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What’s coming with Xero Personal

Posted 8 years ago in Product by Adam Moore
Posted by Adam Moore

As the release of Xero Personal gets closer, we thought you might appreciate finding out about one of the features that we have been working on.

Very often small businesses mix their personal and business expenses, using personal bank accounts or credit cards for business purchases. That’s why we’ve made it simple for you to send purchase receipts from Xero Personal directly into into your business organisation to ensure you correctly account for this business expense and also reimburse yourself.

This means that if you are using Xero for your business and you categorise a Xero Personal transaction as a business expense, you will also be given the option to send the receipt to your business organisation.

Here’s a quick overview of how it works.

Step 1

You categorise a transaction as a business expense and then you’re given the option to send a receipt

Step 2

You choose your organisation and include some information in the description field.

Step 3

You hit Send Expense Claim and now a draft receipt will be in your business organisation.

Your transaction will also update inside Xero Personal to show that your claim has been sent.

That’s a sneak preview of  just one of the great features coming with Xero Personal. We know many of you are dying to try it. But it’s not long now – stay tuned for the full product release in the next few weeks.


Ramsay Bell
March 19, 2010 at 11.40 am

Looks like a very useful feature, could have done with this a few years ago. Hope Xero Personal comes out in March 🙂

Glen Barnes
March 19, 2010 at 11.51 am

So what about things like electricity and phone where you only charge a certain % of the cost if you have a home office? Can it do these splits? This would seem to be the most common reason for doing any business transactions in your personal account.

Steven Grant
March 19, 2010 at 12.08 pm

it’s looking good – with Kublax in the UK going into administration, I badly need a tool to use.

Nick Houldsworth
March 19, 2010 at 12.38 pm

I agree, this looks like a very useful way to track reimbursements (especially after I just spend the last 3 hours entering expense receipts from my personal accounts..)

This would work even better if you could split transactions so that some remains personal, and some becomes a business expense. For example, home office expenses (like power bills, rates etc) which are a percentage of the total home square metres. Or private motor vehicles.

ie; Electricty Bill $400

20% Home Office Portion = $80 -> Xero Business Account
80% Personal Portion = $320 -> Xero Personal Account

Just a thought..

March 19, 2010 at 1.54 pm

As a small business owner, who also want to get personal finance in order… Would I need to get both a Xero Personal account and a Xero Business account in the same time?

Sara Goepel
March 19, 2010 at 1.59 pm

@Glen & Nick: Splitting single transactions across multiple categories is something we are looking at, but it won’t be available with the first release. With a business expense when you send it to your business organisation it will bring across the total value of the transaction, however as it’s a draft receipt you can adjust the value before approving it.

March 19, 2010 at 3.50 pm

What a teaser! Can’t wait

Colden Wakely
March 19, 2010 at 7.39 pm

hurry hurry hurry……

March 19, 2010 at 7.47 pm

Looking forward to the release. I’m signing up on Day 1.

vinnie vivace
March 19, 2010 at 9.53 pm

as above, splitting home office expenses would be most useful.

Adrian Pearson
March 19, 2010 at 10.11 pm

Will Xero Personal have forward-looking features – i.e. will it allow forecasting of future account balances, based on known recurring transactions?

I ask because this is something that most personal finance packages lack; only PocketSmith seems to address this need.

I am more concerned about what money I am going to have in the bank at the end of the month / quarter / year than what I spent my money on in the past.

Rod Drury
March 20, 2010 at 8.21 am

Hi Adrian, you’ll see a few specific areas where we focussed for this first release. A lot of effort has gone into bank integration for version 1. Once the software is out then we’ll be listening for where people want us to take it and update frequently as we have with Xero for Small Business. The team is excited about where the features could go.


Nahum Wild
March 20, 2010 at 12.15 pm

+1 for Adrian’s forecasting request.

I’ve played around with Kiwibank’s Heaps! and it doesn’t work for me, so I’m looking forward to finding out more about Xero Personal once it’s released and where it’s gonna be taken in the future.

Earl Rudolfo
March 22, 2010 at 6.41 am

Xero Personal sounds exciting! Just wondering if/how it ties into Yodlee?

Rod Drury
March 22, 2010 at 8.41 pm

@Earl: Right now our focus is integrating Yodlee feeds for use by our business customers. We will be then be reviewing the potential to provide these feeds into the Xero Personal product.

Neil Benson
March 23, 2010 at 10.07 pm

I’m really looking forward to Xero Personal. I’m trying Yodlee, which is great at the integration but not too many useful features and a 1980s user interface.

But one of the reasons why I have to mix business and personal expenses is that Xero doesn’t accept payments by direct debit or standing order from my business bank account, and HSBC (which I chose because it is the only UK bank integrated with Xero) wouldn’t give my business a debit card for the first 12 months. Ironically, I am having to use my personal debit card to pay for Xero. Fortunately, HSBC have had a change of policy — after I requested they close my account and help me move to Santander — but come on Xero UK, make a little easier for business customers to pay you ; )

March 24, 2010 at 2.02 pm

Hey team.. Are you able to give any indication to the actual launch date of Xero Personal other than “soon”? It would be great to be able to run it from the start of the next financial year (1/4/10) if it’s that close..

Customized Web Design Studio
March 24, 2010 at 3.09 pm

When you say “soon”, what you mean? Days, weeks or months?

Catherine Walker in reply to Customized Web Design Studio Xero
March 25, 2010 at 4.07 am

@Customized Web Design Studio @Blair … days away … 🙂

Ramsay Bell
March 24, 2010 at 11.44 pm

@Neil: I had a similar issue with payment to Xero and as a result I had to order a business debit card from HSBC which has now arrived. I am awaiting the release of Xero Personal before setting up Xero for business. I couldn’t understand why Xero couldn’t take payment from my PayPal Business Account via subscription payments.

March 25, 2010 at 8.46 am

@Catherine – ooooh! Looking forward to checking it out.

Simon H
March 25, 2010 at 11.47 am

@Catherine Would it be too much to presume that your downtime on Sun/Mon “for the release of new stuff” might include Personal? I certainly hope so.

Rod Drury in reply to Simon H Xero
March 25, 2010 at 10.40 pm

Presume away 🙂

Suze Ingram
March 26, 2010 at 7.45 pm

@Simon H @Rod Drury ….that’s what I was wondering too. Woo hoo. Bring on Xero Personal 🙂

March 26, 2010 at 10.49 pm

Just logged in to BNZ online banking and it says MoneyMap (Xero Personal) is available from the start of April – I’ve pre registered already.. awesome stuff!

Jared Roussel
March 27, 2010 at 10.26 am

@Blair Looks like Xero got busted! How exciting… I hope it looks sexy on the iPad!

Jared Roussel
March 27, 2010 at 10.37 am

I really like the look of the new buttons and slight font size increase on Xero Personal too. I hope we see those interface improvements deployed to Xero Business. I noticed the login screen was changed already.

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