Today’s release brings a new balance sheet report, a quicker way to get to the new reports, as well as other smaller enhancements.
If you follow our blog, then you will have seen the release of our new P&L, which enabled a raft of new features when creating layouts. At the time we mentioned that the balance sheet would be the next big financial report to get a makeover, and here it is!
Like the Profit and Loss report, there is a clean new look with a focus on readability, and a brand new layout editor that let’s you do much more than the original. When modifying the layout of your balance sheet, you can now reorder the groups, rename them, delete them, and you can place accounts in a specific order and create formulas as well. As with all new reports, the dates are entered using a convenience date picker to quickly select common dates, and of course, they can now be run on a specific day, not just end of month.
If you are a UK customer and want to place your accounts in liquidity order, now you can. If you are in education and want to create a working capital layout then that too is possible with the new layout editor. Create the layout which is most useful to you!
To make it easier to get to the new reports while we transition our reporting system there is now a direct link in the Reporting menu to take you straight there.
What’s coming up next from the reporting team?
- Text notes – very soon you will be able to add text sections to all reports, as many as you need. Summary, signatory note, disclaimer, you name it.
- Movements in Equity – this report is close to completion
- Drilldowns from all the new financial reports to the new account transactions report which supports multiple accounts
However, reports are just one part of Xero which we are working on, the Sniper team have also been busy!
New Contact account number
New Contact Account Number is here! And while there is so much more that we have planned for Contacts, we know from the many Community threads requesting this feature or similar that this is a valuable change that we could deliver now.
Use this field for whatever is useful for your business – it’s a user-defined reference that you can give your customers or suppliers and it doesn’t even have to be a number – so long as its different or unique for each contact.
And we pretty much put it everywhere – search your contacts using it, display it on your invoices, bills and purchase orders by simply turning on its display from Invoice Settings. Whether you see it or not is over to you.
To help get you moving we have also prepared some detailed guidance on bulk updating your contacts, updating standard branding themes and DOCX.
Oh… and as we just couldn’t wait to get this to you, updates to Mobile and the API are coming soon.
Powering up contact search
We know your contacts are everything to your business. Finding the correct one when you create your invoice, bill or reconcile your bank account is something that should be super easy.
In today’s release we have included some pretty big changes to the contact search that are worth highlighting.
- Mistyping and accidentally creating new contacts is such headache. Now you will know explicitly when you are adding a new contact with the + New Contact indicator.
- Search your contacts by email address or contact account number.
- Looking for someone’s surname or the second part of a business name? The ‘contains’ search now works for as few or as many characters as you like, prioritising occurrences based on whether the characters appear at the start of any word.
- Faster. We have also significantly optimized the search and included some additional caching, meaning we can better keep up with your keystrokes.
- And finally we’ve added it to the bank reconciliation.
Void checks on specified date (US edition)
If you’re in the United States and track your checks via the check register in Xero, you will well know the consequences of voiding a stale or expired check and having the related payment automatically deleted on the check’s creation date as if it never happened.
Now with void check on specified date there is an alternative void option that allows you to choose the date you want the check void to occur and the date the related payment reversals are to be reported.
And, just in case you selected this new void option by mistake, entered the wrong date or the check turns up and is cashed… you can now unvoid.
Allow your votes to do the talking
We’d heard a bit of feedback that 5 votes in our Community isn’t enough, so a few weeks ago we gave everyone 5 more. Now is a great time to see what you’ve already voted on, just log in, and go to your Public Profile.
We also want to see all the smaller pain points highlighted so make sure to add your votes on other features/improvements.