Updates! Check Out Xero’s Latest Updates!

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Xero has given the people what they want – even more fantastic new updates to their cloud accounting software. The latest updates give Xero users even more flexibility!

WorkflowMax Mobile Job attachments

Xero users are now able to attach supporting files to jobs using the WorkflowMax mobile app. This new functionality allows for photos, written documents, audio, and some video file types to be added as attachments. Managing jobs documentation has been made easier by this new Xero update, the documentation can be added to or changed, regardless of where you are. So you can say goodbye to lengthy searches for documentation and say hello to business efficiency.

Trial Balance Report

The Trial Balance report can now be added to templates by Xero Advisors. Giving you greater visibility with the ability to cross-reference account balances against work papers. This new update helps with the identification and rectification of coding errors. The Trial Balance report means you can easily extract balances for tax filing.

Xero HQ Open Banking Changes

From the 14 September 2019, new EU standards changed the way some banks connect to Xero. New direct feeds using Open Banking will replace many of Xero’s bank feeds in order to comply with the new requirements. Advisors can find a list within Bank Explorer in Xero HQ, of the clients affected by these changes.

New Direct Feeds Using Open Banking

Now available to small businesses and advisors, the first of Xero’s new direct bank feeds using Open Banking, giving them the ability to set up bank feeds to the following:

  • NatWest
  • Royal Bank of Scotland
  • Ulster Bank (UK)
  • Barclays
  • HSBC
  • Marks & Spencer
  • First Direct
  • Nationwide
  • Danske Bank (UK)
  • Bank of Scotland and Allied Irish Bank (UK)

Connecting your bank to Xero can now be achieved through a completely digital process. Importantly, you can import up to 12 months of historic transaction data, giving you complete control over your numbers.

Xero HQ VAT Now Live

Xero HQ VAT is accessible to advisors for no additional cost! In Xero HQ VAT you can get an up-to-date view of each client’s Making Tax Digital VAT returns. Managing VAT clients is straightforward with all VAT information being stored in one place. This feature helps you to work more efficiently and speedily.

Bulk Geo-Tagging for Advisor Directory

The Xero Advisor Directory is used by thousands of small businesses looking for the best fit for a bookkeeper or accountant. Xero have added the ability to Geo-Tag in bulk, in order to get your practice in front of the right people, as the directory uses a location-based search. This new feature allows you to Geo-Tag where you and your clients work, helping you get greater exposure to potential clients!

Payrolling of Car and Van Benefits

Save time with this new feature now available in Xero Payroll. You can set up company car benefits as well as being able to assign them to employees. You can file PAYE tax on the benefit as part of Real Time Information (RTI) submissions to HMRC. Xero says, “A company van’s cash equivalent value can also be calculated, and takes into account factors that will reduce the employee’s tax on the benefit, such as whether the van is shared. Existing employee benefits that can already be payrolled in Xero include private medical and dental insurance.”

You can find out more about our Xero services, here. And I should mention, we’re Official Xero App Integrators, chosen and trusted by Xero. So you can rest assured we’ll help you find the best solution for your business.

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