Xero is constantly updating

Posted on: November 14th, 2017 by Judith Mallen No Comments

Recent new features include:

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.

Coming Soon:

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.

Expenses

  • 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 Judith.Mallen@broomfield.co.uk  

Leave a Reply

Latest From The Blog


Charities have historically struggled to plug the skills gap in south Wales

The one million trustees, supporting almost 200,000 charities across the UK, help to make the UK the sixth most giving country in the world. With Trustees’ Week (13-17 November 2017) upon us, Sarah Case, director at advisory firm Broomfield & Alexander, offers her experience on what makes a good trustee, the importance of financial skills and how individuals, as well as charities,...

Read more

VAT Alert: Charities will NOT be excluded from Making Tax Digital roll out

Broomfield & Alexander have been working extensively with our clients to move them to accounting software systems. This is in preparation for April 2019 when HMRC will expect VAT registered businesses to be able to pass their VAT return data across directly to HMRC in a digital format.

Liz Maher from Centurion VAT Specialists team – who works with us in supporting...

Read more