What santa has for you

Today is our last major feature release for 2009 and as usual the elves have been hard at work.

In this release we have completed our end-to-end creditors functionality with the introduction of batch payment features.  Xero is now a powerful solution for restaurants and cafes or anyone that needs to manage lots of payable invoices.

This video shows you  how easy it is to save several hours a week:

Payment batches are supported for all banks providing automated bank feeds in New Zealand and Australia.  A UK batch file, using BACS, will be coming very soon.

More flexible invoicing

A number of our most asked for requests (see What’s on top) are around more flexible invoicing, so we’ve been chipping away at improvements. These include:

  • Add description only lines – great for adding headings to groups of items on your invoice, or for adding detail before or after you list the charges
  • Add a line with a 0 value – great for letting your customer know when you are adding free goods and services to their invoice
  • Add an invoice with a 0 total – great for when you are offering a 100% discount, or a free trial and want to inform your customer
  • Fully edit the invoice after you approve it, but before its paid – great for fixing up mistakes that you only notice once you hit the Approve button
  • Select tax inclusive or no tax – and Xero will remember your preference for next time

Here’s another lovely video to walk you through the possibilities:

Tax on imports

If you’re an importer, then you’ll be familiar with the process of buying goods from overseas, then paying the GST/VAT as the goods come through customs.  In these cases, you make a separate tax payment which is 100% refundable.  If this is you – then please note that the way Xero handles GST and VAT on Imports has changed. To record GST/VAT on imports you should now code this to the GST or VAT account and use the ‘GST/VAT on imports’ tax rate.  This will ensure that your GST/VAT account balance is correct without needing manual adjusting journals and  it will be correctly reported in the GST Return, BAS Return and VAT Return.

If you have a balance in your GST/VAT on imports account or want to use the new imports tax rates, then please check our Help Centre for more information including what you’ll need to do to close off the balance of this account.

Merry Christmas

We wish all of our customers and readers a stress-free Christmas, knowing that your accounting is in good shape.  If you have reached the end of 2009 in better shape, with more visibility of your cash-flow and business, then we’ve done our job.

You can find out more about all the goodies released today here.

5 Comments

alex
December 12, 2009 at 1:23 pm

In your post it says, Payment batches are supported for all banks providing automated bank feeds in New Zealand and Australia.

SO i have a batch file i created for kiwibank, how do i load it into kiwibank?

alex
December 12, 2009 at 1:27 pm

imagine if you could just click a button and it would automatically load the payment data into the bank. then you could login to your bank and click on authorise, and pay everyone wihtout having to type it all out twice.

bet it will take the banks a while to pickup on that concept.

Catherine Walker
December 12, 2009 at 1:48 pm

@alex, can I ask if you have a business banking account with Kiwibank? Usually batch payment functionality is offered by banks within their business accounts and not personal accounts.

Help Centre: Export a batch file

Regards,
Catherine

Donna Wylie
December 12, 2009 at 8:03 pm

Love todays release – thank you to all the elves at Xero. Happy customers and a happy Xuru team!

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