Expenses new and improved interface is free until the end of the year, but then will be a chargeable service added to the subscription. The new features include:
- New user permissions
- Ability to submit expenses on behalf of someone else
- Easier review and payment features
- Expense claims analytics reports
New payment services added to Xero invoices for quicker payments. You can add the payment services you use when raising invoices and you can also charge on any bank charges that apply to the merchant.
Invoicing enhancements improvements within Xero which is moving away from coding. Xero creates a learning model based on chart of accounts and bills already entered. Xero has the ability to learns from what you’ve entered previously so it makes a suggestions on what code you wish a bill to be posted. You can override if it needs to be different, but should save lots of time.
Multiple addresses – now enabled. This works if billing head office, however you are shipping to different address. Allowing you to add multiple addresses to contacts.
Fixed Asset Register can be updated for private usage.
Construction Industry Scheme
Xero aims to provide a great experience for contractors, subcontractors and accountants involved in managing CIS. Deductions will be automatically calculated from subcontractor invoices, and in the future you’ll be able to submit returns to HMRC with one click – so you can be confident you’re paying the right amount.
What you will be able to do:
- Add contractor and subcontractor information into Xero
- Automatically calculate CIS deductions before making payments
- Automatically produce contractor monthly CIS Return
- Create subcontractor payment and deduction statements
- CIS suffered report
- Enable CIS deductions on cash transactions
- File HMRC submission with one click
- Verify subcontractors from within Xero
- Payroll integration
- Bulk email of payment and deduction statements
Projects in Xero is a simple time and cost tracking tool that:
- Focuses on the financial side of project management.
- Integrates with key Xero features, including contacts, invoicing, and bills and bank reconciliation.
- Provides flexible, easy project invoicing.
- Supports fixed price and time billing.
- Monitors project budgets and financials.
- Mileage tracker
- Spend money transactions (non reimbursable expenses)
- Integration of expenses with payroll and projects
Bank Rules on Transfers
You will be able to set up bank rules for bank transfers.
If you have any questions about these updates please get in touch with Judith Mallen at [email protected]