While we are all in lockdown I have been keeping my Xero accreditation up to date by learning about the new updates which have been released recently, and those due over the next couple of months ...
So what's new?
- Credit Limits
You can now add a credit limit to a contact record and then the limit will display on the front of the contact card together with any credit remaining, or if they are over their limit
You can also view the details by hovering over the customer name after they have been added to your invoices, and in new invoicing, you get an alert if the invoice will push your customer over their credit limit.
- Mobile App Improvements
When new features are rolled out for the app sometimes they are available on just android and sometimes just iOS, but then the features are rolled out to all platforms over time.
- You can attach files to transactions when doing a bank rec on both iOS and android now - Creating and saving quotes in Android has an improved look with more auto-entry options making it easier - You can now add 'non-reimbursed' expense claims on both platforms, so if you have made a purchase using the company debit or credit card rather than your own, you can enter it and once approved it creates a spent money transaction on the appropriate account - There is a new mileage feature which is being improved and developed all the time, so keep checking it out on both platforms to see what you can do - CIS invoices can now be raised in both platforms with the CIS deductions being calculated for you too
- Future developments
One of the biggest features requested by users is the ability to set up your supplier payments straight out of Xero so you don't have to log into your bank and set them up yourself. Xero has partnered with Transferwise and this will allow an automated bill payment solution direct from within Xero itself.
There will be three tiers of pricing for this extra service depending on the number of transactions you need to arrange in a month. The more you need, the cheaper the cost per transaction will be.
This is currently being trialled by a limited amount of users and will be rolled out over the next few months.
If anything I've written here resonates with you, call me on 01604 420057 and let's see how we can help you.