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A rundown of the latest updates to the Xero accounting platform

If you have accounting or Xero OCD you will be aware of the latest Xero update, however for all non-accountants or bookkeepers, here is a rundown of the latest updates to the cloud-based bookkeeping and accounting platform.

  1. Reports: You can now display formula columns as percentages in the new financial reports.
  2. Xero Projects: you can now allocate project time into your own or your employee’s payroll timesheets.
  3. Payroll: You can now add an allowance type to a pay item in payroll so Xero can group allowances when you report them to the ATO.
  4. CIS: Xero has opened up the beta to more participants for filing your CIS Monthly Return directly to the HMRC from Xero.
  5. Xero for mobile: You can now include file attachments when sending invoices on your mobile device.
  6. Xero for Android: Create an invoice, quote or receipt by pressing firmly on the app from your mobile Home screen. View your bank account balances on the Dashboard so you can reconcile faster.
  7. Transactions: Multicurrency columns have been added to the account transactions report and event include a little flag icon for easy visual recognition.
  8. Credit notes: these can now be linked directly to a project. This means you will always see a true and accurate representation of your project’s profitability.
  9. Xero App: You can now get a quick view of your profit and loss, and how your income and spending are broken up, from your Android or iOS dashboard.
  10. Navigation: The Xero navigation bar is being updated (late November 2018) to make it faster and simpler for you to find the tools you need.

Watch this video to find out more about the changes to Xero:

For more information about using Xero to organise your business finances, please get in touch and we will be happy to help. Contact us here or call on 01392 495483.