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Xero: Product wrap up for January 2017
Wed, 8th Feb 2017
FYI, this story is more than a year old

The first month of 2017 is already over, but online accounting software firm Xero has had a busy January, releasing numerous products and updates already this year.

We headed over to Xero's official blog page and had a good look at what the company has been up to so far this year.

Released in January 2017:

Preview Invoices

You are now able to see how your customers view an invoice as you create it. Use the new Preview button on the invoicing screen; you can switch between web browser view and mobile view to make sure you're happy with the invoice layout.

Invoice users are able to see their edits to the invoice in real-time. This release allows you to send invoices faster and easier than before.

Partner Toolkit in My Xero

Our partners are now able to access the partner toolkit from within My Xero. Previously, partners weren't able to access the new toolkit while using Xero day to day. Learn more about what tools are available to you.

Add Stripe as a payment option in Xero (NZ, Ireland, Singapore, Hong Kong)

Now users around the world can set up a Stripe account and start accepting credit card or debit card payments on their Xero invoices.

Get set up now, begin taking payments and spend less time chasing overdue invoices and more time working on the things you love.

Payroll Updates

Leave Liability Report (NZ)

When businesses prepare their annual financial statements or monthly management reports, they need to include the value of any leave liability. We are pleased to announce that this feature is now included within Xero Payroll for NZ.

We are also working on improving the employee opening balance experience to create a better overall experience with reducing time and improving accuracy around understanding leave liability.

What's next?

Xero has also provided a snapshot on what users can expect in the next 90 days.

“We're eager to provide you with as many updates as possible around what we're working on,” Xero says.

“We have restricted this to a 90 day window as we're moving at a rapid pace and things change all the time,” the company explains.

“Things can change and occasionally product releases will be delayed, and so, in order to give you an update of ‘What's Coming', we ask that you bear this in mind,” Xero adds.

What's coming…

·       Fixed asset tax depreciation - pooling (AU)

·       Xero for iOS updates

·       Quotes on Xero for Android

·       Live contacts - risk indicators

·       Check printing

·       Copy/Transfer bank rules

·       New invoices beta launch

·       Auto-enrolment PensionSync integration

·       Backpackers Tax (AU)

·       WorkflowMax app for Android (for Xero Practice Manager users)

·       Practice Overview in Xero HQ

Live contacts look-up - credit risk assessments (AU) payment risk assessments (NZ)

Coming soon is the long awaited live contacts look-up and credit risk assessments in Xero. With contacts in Xero, it'll be simple to search businesses using the live look up function. Once a business is selected, their info will be pre-populated – no more half empty, inaccurate contact cards from the Business Name Registry in Australia and the Companies Office in New Zealand.

Along with the business's contact details, Xero will display a credit risk assessment (AU) or payment risk assessment (NZ), which is an assessment of your contact's risk of default or non payment based on their credit history (AU) or payment history (NZ). This information arms you with insights that could help you decide to ask for full payment or a deposit up front, or offer a better deal if they're reliable payers.

Copy/Transfer Bank Rules

We're currently working on a release that lets you easily transfer any bank rule applied to another organisation. The ‘copy bank rules' button will allow you clone rules from another org and bring them into a current org, saving you time and effort. You'll have the option to set up rules as default and apply to all bank accounts. The enhance validates each rule and should any information be missing, the rule will show up as ‘pending' until edited and saved to get it activated.

Xero for iOS updates

We've been working on a number of enhancements for Xero for iOS. A summary of those available to you now:

New login

You'll now have the option to unlock the Xero app automatically when you unlock your iOS device – no Touch ID or pin are required should you choose this security option.

Org Search

We've added org search on the My Xero screen, so you can start typing the org's name and the results will be show up right away without having to scroll through a long list to find the right one. This enhancement is particularly useful for our accounting partners.

Create Quotes on Xero for Android

With the latest Xero for Android release you can now create and send a quote while still on site for example, and get approval faster. We're working on the same feature for Xero for iOS, sit tight and watch this space for any updates.

Change invoice reminder settings in bulk

You are now able to select your invoice reminder preferences in bulk. Allowing you as a small business owner to bulk select groups of invoices and switch reminders on or of from the main invoicing list without having to open each invoice individually. You can already do this for your customers from the main contact list, but adding the same functionality to your invoice list makes managing reminders even easier and more tailored to your preference. Bulk selecting invoice reminders will save you time and lets you manage debtors and your cash flow the way you want.