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Xero release: 23 June 2014

This morning we released a ton of updates to Xero. Here are some of the highlights – check out the Xero release notes to see the rest.

Xero TV on the login screen

23 June 2014 Xero release includes Xero TV on the login screen

We now display education videos right on the login screen making it easier for all users to be smarter with Xero, and discover new features. Our education team has been investing significantly to create useful content for Xero TV and it’s the best place to learn about Xero.

Support for four decimal places on unit prices

We’ve heard you! Plenty of you have been asking for Xero to support unit prices with more precision – a bit more to it than you might think but we hire smart people, so good to be able to tick this off. For most of you it will just work – however, if you use DOCX invoice templates you need to make a small update.

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Apply for an accounting, economics or finance scholarship

Do you know anyone in the US who is in school – or about to head to school – to get an accounting, economics or finance degree? Could they benefit from a little financial help? If so, make sure to tell them about Xero’s $5,000 accounting, economics or finance scholarship.

Here at Xero, the accounting and financial worlds are obviously a huge part of what we do. What’s more, we know that accounting, economics and finance students go on to play an extremely important role in the small business world. So we’ve decided to award $5,000 to a student who is majoring in one (or more) of these subjects.

Xero is offering a $5,000 accounting, economics or finance scholarship to US university students

Who can apply for Xero’s accounting or finance scholarship?

All legal US residents who are currently enrolled full-time at an accredited university or business school (which must also be in the US). Applicants must be majoring in accounting, economics or finance. There is no age limit and it doesn’t matter what stage of study the student is at (see below for GPA requirements).

What can the scholarship money be used for?

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Xero Practice Manager released

Today we released Xero Practice Manager, our online practice management solution, delivering job, time and invoice management to accountants and bookkeepers.

This release is the culmination of months of effort by our product development team and is a strong demonstration of our investment in our partner community. Xero Practice Manager is currently available at no software license cost to members of the Xero Partner Program who have Silver status or above.

Over the past few weeks we have previewed several of the key features of this release, but today marks the general availability of the solution. For a complete overview, take a look at the video below.

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Company Tax Return in Practice Manager

Xero Practice Manager - Company Tax ReturnWe’re almost there!

As we get closer to our next Tax release we thought it was time to go into the new features in more detail and give you guys a little sneak peek so you know what to expect.

Our next instalment welcomes our first version of Company Tax Returns which gives you the ability to create Company Tax Returns for 2013 and 2014 and lodge them to the Australian Tax Office.

The attractive new interface, designed in heavy collaboration with our partners, results in a clean and easy to use experience. You’ll also have the benefit of real time auditing, which means your Company Tax Return will be checked for errors before you attempt to file, saving you time and the hassle of rework.

Worksheets and Schedules you’ll see with this release include:

  • Non Individual Payment Summary schedule
  • Capital Gains worksheet and schedule
  • Losses schedule
  • Dividends and Interest schedule
  • Franking account balance worksheet
  • Capital Allowances (UCA, LVP, SBE) worksheet

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Positioning fixed assets to your clients – in Xero it’s easy

Fixed assets come up regularly as an area of uncertainty when we’re talking to businesses. So we’ve put together a brand new webinar for UK accountants and bookkeepers that want to get their clients up to speed. It explains all the ins and outs of fixed assets and guides you through how to deal with them in Xero.

I caught up with our resident education and training expert, Ashley Driver, to get the lowdown on what fixed assets are, in accounting terms, and the benefits of a better understanding of how to account for them.

Ashley Driver, Xero

Ashley Driver presenting at Accountex 2014

So over to Ashley to explain what fixed assets are…

How would you describe fixed assets to a client?

“Fixed assets in a business are essentially anything that’s owned by that entity that’s of worth and is retained over a period of time. So that could mean motor vehicles, land, buildings or machinery etc. – basically, anything that isn’t likely to be sold or converted to cash quickly.”

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Cloud accounting adoption rising among UK accountants

In September 2013 we commissioned market research organisation, OnePoll, to survey 250 UK accounting firms about cloud adoption and found that 28% were already using cloud based software and a further 27% hadn’t yet made the move but intended to so. We also got a bunch of other data about what was driving adoption, attitudes to security, client demand, etc.

Six months later, to coincide with our presence at the Accountex exhibition in London earlier this month, we re-ran the same survey (same questions, same research company, same poll size) to get an up-to-date sample.

This time around we found that the ‘already using cloud’ measure had grown from 28% to 34%, and the ‘almost there’ constituency had lifted from 27% to 31% – an overall swing in positivity from 55% to 65% in favour of the cloud in a little over six months.

So, we set out some of the key comparative findings in this info-graphic, all of which are pretty encouraging.
Cloud accounting stats

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Xero Practice Manager – Quick Time Entry Preview

In the lead up to the first release of Xero Practice Manager in mid-June, we’ve been previewing a number of the new features. To date, we’ve looked at:

Today, we’ll preview the new Quick Time Entry capability.

Quick Time Entry allows you to quickly and easily capture billable time without interrupting your workflow, ensuring all your time is captured and visible within WIP. By making time easier to record, you can increase the recovery of time for your billing staff as well as make it easier to manage how time is being used.

As you can see, the new Quick Time Entry makes it easy to capture time for all those small interruptions throughout your day.

 

The Australian Tax Roadmap – Company Tax Return

dev photo1The Australian Tax solution within the all new Practice Manager is about to hit a new milestone with our first installment of Company Tax Return.

Since launching online activity statements and tax file declarations in Practice Manager, we’ve seen over 100,000 lodgements on our Australian Tax Service platform. The team is now about to launch into a series of releases to deliver the next components of our solution.

As the new Product Manager for Australia, I’ve picked an amazing time to join Xero.

So, what does this mean for you?

It means that we’re one step closer to the tax solution you’ve been asking for. A big step.

What will you get with the first installment of Company Tax Return?

You’ll be able to create and lodge Company Tax returns for 2013 and 2014 tax years through the new Practice manager.

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Xero Practice Manager: Global Search preview

Over the past two weeks we’ve previewed the new Filters and WIP Manager in the upcoming first release of Xero Practice Manager.

Today we’ll preview Global Search.

Finding information quickly can often be difficult and disruptive to your workflow.  The new Global Search allows you to quickly find key information for a client, supplier, contact, job, quote, invoice or lead without having to leave the page you’re on or interrupt the task at hand.  If you need further information, you can simply drill down into the search results to view more detail.

As you can see, the new Global Search allows you to quickly and efficiently locate the information you need when you need it.

 

Changes to Xero reports

Today marks the first in a series of updates we have planned to introduce a brand new way of running reports in Xero. We’ve designed these new reports from the ground up, taking into account the feedback we’ve received from you and they’re looking great.

To get the ball rolling we’ve launched a new set of Aged Reports and are currently working on a Depreciation Schedule, Disposals Schedule, Account Transactions, and Profit and Loss reports.

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