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Latest product news – December 2021

Posted 9 months ago in Advisors by Anna Curzon
Posted by Anna Curzon

Last updated 9 December 2021

As we close out another big, but challenging year in business and practice, we hope that the products we delivered in 2021 helped to make a real difference in your day to day. We’re thrilled to share the final product news of the year, and look forward to seeing you achieve even more successes in 2022. Have a safe holiday period from all of us at Xero.

New features

Connect data from Shopify quickly – Global

To help you make the most of ecommerce opportunities, we’ve built a new Xero & Shopify app that’s available in both the Shopify App Store and Xero App Store. You can see how much revenue and profit is being made each day, send sales transactions to Xero for easy bank reconciliation, and easily track your cash flow. Customers using existing Xero-Shopify integrations will be unaffected.

View transactions your way to reconcile – Global

To create a consistent look and feel across the Xero platform, we’ve started rolling out a new update that gives you two ways to view transactions on your bank reconciliation screen. You can now choose between an enlarged, zoomed-in view, or a compact view that displays more transactions. Simply move the toggle to choose the view that best suits your needs.

Reconcile with ease using machine learning predictions – Global

As part of our mission to take the toil out of bank reconciliations, we’ve developed machine learning algorithms that can predict your transactions’ contact and account codes using millions of reconciliations across Xero. We are rolling out this functionality in a phased approach, so if you aren’t seeing these predictions yet, you should soon.

Plan with confidence using Xero Projects – Global

If you’ve been using Xero Projects for a while, you may notice some feature enhancements aimed at providing you with more actionable insights. A new project report details financial transactions to help you see how your expenses are tracking against your budget, and dates for expenses are now editable within projects. You can also access project reports from within the Xero Projects page, saving you the hassle of accessing them from reporting.

Enjoy quick access to your reports – Global

Our new report centre allows you to click the star for quick access to your favourite new reports, common formats and older versions of reports from the top of the page or Accounting menu. Reports are grouped under clearer headings, and you can also toggle report descriptions on or off. We’ve also enhanced our search functionality, so you can easily search for a report even if you don’t know the name. The new report centre is now available in Canada, and will be followed by other regions in the months ahead.

Access common formats in more reports – Global

We’ve extended our popular common formats functionality to new Income & Expenses and new Account Transactions reports. This means you can customise more of your reports at the click of a button and get the answers you need fast. Common formats for these reports are located in our new report centre. This report is now available to customers in the US, and will be followed by other regions in the months ahead.

Enjoy more control in your Budget Variance report – Global

The new Budget Variance report is being refreshed with a new design and some updates to help you with your financial analysis. You’ll soon be able to use the layout editor to format your report, and view arrows to help you better understand your budget variance formulas. We’re also including the ability to sort by account code in the new ‘More’ button. This report is now available to customers in the US, and will be followed by other regions in the months ahead.

Add ‘More’ detail to your reports faster than ever – Global

To help you discover our new reporting features, we’ve replaced the existing cogwheel icon with a single, intuitive ‘More’ button. Depending on the report you’re creating, some of the options you might notice include being able to quickly add ‘YTD’ and ‘Total’ columns, show or hide decimal places, or opt to display your report on a cash or accrual basis.

Customise your Cash Summary report in a click – Global

The new Cash Summary report will soon include a number of additional features, including more flexible date ranges with comparative options, full layout editor control, visual performance indicators and the ability to save custom reports. Plus, the ‘More’ button will offer the ability to sort by account code, as well as show percentage of income. This report will be available to customers in the US first, followed by other regions in the months ahead.  

View ATO information directly within Xero Tax — AU

We’ve now made it easier for you to prepare tax returns for your clients, by viewing even more documents held within the ATO’s online portal. Information such as capital gains tax events, or whether the taxpayer has sold cryptocurrency can now be viewed as a PDF directly within Xero Tax. It’s available for 2020 and 2021 income tax returns.

Manage employee profiles with a fresh new look – NZ

We’ve released an updated design of employee profiles in Xero Payroll. It has everything you love from the older version but with a few improvements. This includes the ability to view a full history of salary and wage information, create new custom pay items with fewer clicks, and new page names for a better experience when setting up employees.

Forecast with confidence using Xero Analytics Plus – UK

You’ll now see a VAT breakdown in your Xero Analytics Plus short-term cash flow projection. We’re hoping this helps you factor these payments into your upcoming cash flow. If you’re registered for Making Tax Digital (MTD) and sales tax, you’ll now see VAT payable and refundable for both current and previous sales tax filing periods when it’s due.

Streamline file management in the VAT report – UK

If you’re a small business or adviser preparing a VAT return, you’ll know how often you need to view or attach files associated with the transaction to validate accuracy. To help you become more efficient, we’ve added a much-anticipated feature request within the VAT report that enables you to view, attach and delete files with drag and drop functionality in line with the transaction.

Save time with automated pension re-enrolment – UK

To help you manage your important pension re-enrolment compliance obligations, we’ve created a pension re-enrolment workflow. You can now enter a re-enrolment date, and we’ll automatically assess and re-enrol the employees within the pay run that includes your chosen date. When you’re close to your next re-enrolment, we’ll prompt you to provide either the last completed date, or the next one.

Prepare 1099s more efficiently – US

We’ve added a new contact management dashboard within the 1099 report to help you easily identify and view contacts — all in one place. Using the dashboard tool, you can update contact details, indicate a business type, and add contacts to a new 1099 default group with the tick of a box. To save you more time, you can also copy rules over from the previous year. 

Personalise your Executive Summary report – US

The new Executive Summary report will soon be available to customers in the US. It will be located in the new report centre and include a number of new features that you’ve requested, including more flexible date ranges, more comparative periods and the ability to add commentary text. You’ll also have the ability to save custom reports.


Linda Morrison
December 6, 2021 at 7.32 am

Is there any chance, even a teensy weensy chance, that Xero will look at Payroll and improve the UK Payroll, or at least bring in some of the features widely available in other parts of the world? Please?

Xero in reply to Linda Morrison Xero
December 6, 2021 at 10.37 am

Hi Linda – thanks for your comment, which has been shared with our product team. There are a number of things underway to upgrade and improve different areas of payroll – would it be possible for you to raise a case with our support team detailing which features you are referring to specifically. Thanks so much!

Angela Nicholson
December 8, 2021 at 6.09 am

It seems to have changed the interface significantly and I can no longer swap between two different business or even find my contacts for the business that I can access. Are you in the process of ironing out bugs?

Xero in reply to Angela Nicholson Xero
December 9, 2021 at 12.09 pm

Hi Angela, are you referring to the recent update to the bank reconciliation screen? If so, can you please raise a case with our support team so we can take a closer look and hopefully give you a hand? Thanks so much!

Rafael Bennemann
December 18, 2021 at 9.31 pm

Hi team, thank you for the features.
I’m wondering how the inventory between Xero and Shopify should work.
Is there any way to link xero stock level with Shopify?

Thank You

Xero in reply to Rafael Bennemann Xero
December 21, 2021 at 2.26 pm

Hi Rafael, thanks so much for your comment. In regards to your question, can you please raise a case with our support team so we can give you a hand directly? Thanks!

January 4, 2022 at 2.09 pm

Hi design team,
I feel the toggle between compact view and large view was a waste of your time as it is of no substantial benefit to us, the users.
A feature that would be of far better use would be an option to turn on or off the ability to view more of the transaction details without having to click on ‘More details’ and then click on the close x. This feature would save me a lot of time when reconciling transactions in the bank feed.

Xero in reply to Leanne Xero
January 11, 2022 at 9.42 am

Hi Leanne, thank you so much for sharing your feedback with us. It has been passed onto our product team, who are currently evaluating all the feedback.

January 6, 2022 at 12.53 pm

Within Xero’s small business clientele, there has been an ongoing plea for years: “Allow custom fields on invoices and contacts”. When we joined X a few years ago, I added my vote to the list. I was around the 1,000th Xero client to vote for the feature. Xero had promised that when any Feature Request received 1,000 votes that it would seriously consider the request.
Two years later, hidden though it is, that vote count for custom fields has grown to 1,672 Xero clients. And that’s just the desperate/clever people who happen upon Ye Olde Xero Business Community’s page, a precursor of Xero Central.
We’re telling Xero what we want/need — why does Xero ignore the gold mine of client input yet another year?

Xero in reply to Cheryl Xero
February 15, 2022 at 5.03 pm

Hi Cheryl, thanks for your comment. All the feedback that is shared and feature requests we receive from our community is incredibly important to us and it all does play a vital role in our strategies. However, feature requests can’t be the only factor considered – as you can imagine, we receive thousands of requests and changes to fit the needs of many different business types, sizes and industries who use Xero. We have the important task of not only looking at the immediate but anticipating what hasn’t yet been asked for that will be crucial to innovate in the future. We appreciate that this may be frustrating – but we promise that we are listening and carefully evaluate every request that is submitted and voted upon by our community.

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