2016 was another BIG year at Xero, releasing so much great product and enhancing our existing awesomeness.
Here’s the monthly update on what we released in December, and a quick snapshot of what we are working on.
Released in December 2016
- New Advisor Directory
- Bank Account Transactions – Running Balance
- Industry Settings
- Changes to the Advisors Menu
- Statutory Payments Payroll update (UK)
90 Day Window – What’s Coming
- Common Dates for New Reports (MTD, QTD, YTD)
- Quotes on Android
- Improvements to login and invoicing on iOS
- Improvements to check printing (US)
- Fixed Asset enhancements (AU)
- Move New Report Templates into the Report Centre
- Preview Invoices
- Payroll Updates
- Leave Liability Reports (NZ)
- Auto-Enrolment with Pensionsync (UK)
- UK Payroll API (UK)
- “BackPacker” Tax Features (AU)
- Employee Set-Up Improvements (NZ)
- Direct Deposit Payroll (NZ)
- Adding more state calculation and filings (US)
Remember you can find all changes and release updates to Xero in the Help Centre.
New Advisor Directory
The new Advisor Directory is now live, making it super easy for small businesses to find the right Xero advisor for them. The enhancements will also make it simple for Xero advisors to update their listing using the new Xero HQ Advisor Directory listing setup. Check out this video for more on the new advisor directory.
It’s now much easier to select the industry your organisation works within right from setup. Use a smart search to find the industry which best relates to your business. This information helps your advisor understand which services and apps they can offer you, and helps Xero better understand the businesses using Xero, so we can serve your business where it matters.
Changes to the Advisors Menu
In December we started decluttering the Advisor Menu to make the navigation around Xero easier and more streamlined. This included moving the following to the new Report Centre so everything is in one place:
- Management Report Pack
- Reconciliation Reports
- Annual Accounts – SPFR/Exempt (UK/NZ/US/Global)
- Year-end Report (US)
- Abbreviated Accounts (UK)
- Sales Tax Reports (VAT, Activity Statement, GST Return)
These will now live in the “Accounting Section” of the new Report Centre – and are able to be favorited so they appear in your Reports Menu if you use them regularly. The Report Templates under the Advisor Menu will also be moving to the new Report Centre in the new year, so they will be even easier to find.
Read more about the changes to the Advisor menu on the blog.
Statutory Payments – Maternity and Sick (UK)
UK employees may be eligible for statutory leave and pay for sickness and parental reasons. UK Payroll in Xero will make this process significantly easier and more accurate with the release of Statutory Leave and Pay for UK Payroll.
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.
View Quotes on Android
The ability to view existing quotes on your Android device and the introduction of a new ‘Sales’ tab, is now available, bringing invoices and quotes under one roof for Android users.
You can soon look forward to creating quotes and turning quotes into invoices from your Android mobile. More work in this space is taking place in iOS too, so Apple lovers can enjoy the same features soon too.
Bank Account Transactions – Running Balance
The new running balance includes all reconciled transactions, as well as any unreconciled Spend Money and Receive Money transactions. Now you get the full picture of your cash position based on future transactions. Check out the blog for more info on the Running Balance.
90 Day Window & What’s Coming
We aim to give you as much information as possible around what’s coming. But as our customer’s needs shift, so do our priorities. Here’s a look at what we’re looking to release in the next 90 days.
It is super important to remember that while we want to ship everything yesterday, it’s not possible to get everything out at once. 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.
So what’s coming…
Common Dates for New Reports (MTD, QTD, YTD)
With our latest Reports release, we are enhancing the date picker to include dates that update themselves as at today’s date (MTD, QTD, YTD). So you will be able to run your regular reports and get a daily snapshot of where your business is at for the period to date, without having to make any changes. It’s almost magic.
Fixed Asset enhancements (AU)
The Fixed Assets development team have been working hard on the next piece of work to be released for Australia. Fixed Asset Tax Values and Pooling is a top feature request and important compliance capability.
In addition to managing Fixed Assets book values, Advisors will be able to use Xero Fixed Assets to enable and calculate tax depreciation and manage pooling.
- ‘Turn on’ tax and pooling capability with an effective start date.
- Add tax deprecation details to your assets
- Create pools easily including templates for Low Value and Small Business pools.
- Add/transfer assets to pools.
- Adjust pool values and balances for adjustments or other corrections.
- Tax or Pool values are automatically calculated when you run depreciation.
- Detailed audit trail in History and Notes to see what happened and when.
- Some detailed reports to help you complete tax returns for asset values.
More details coming soon as we get closer to release, so stay tuned.
With the ‘Preview Invoices’ release, users can now see their customer’s view of the invoice as they create it.
Use the new Preview button on the invoicing screen and toggle between a mobile view and web browser view to check the invoice layout. Invoice users will also be able to see how edits change the layout as they work, which makes creating and sending beautiful invoices faster and easier than ever.
Improvements to check printing (US)
With further enhancements to check printing, Xero gives you the ability to print checks from scratch or onto pre-existing check stock and easily adjust elements of the check to suit the layout. It will enable Drag and drop functionality; docx support – download a docx that has a fully formatted check; Mica strip support; print multiple checks on a page.
Improvements to login and invoicing on iOS
Soon users will be given the option to unlock the Xero app automatically when they unlock their device making it faster and easier to access Xero Mobile and organisation search and selection will be enhanced also. Invoicing on iOS has also been redesigned to improve the way you create, view, and edit invoices.
This is the start of many more improvements to come to Xero Mobile.
Auto-Enrolment with Pensionsync (UK Payroll)
PensionSync is a 3rd party that provides an API to automate the data exchange between payroll and multiple pension providers. This is a critical component of the Auto Enrolment effort and will allow customers to integrate with many pension providers through a single API connection.
“BackPacker” Tax Features (AU Payroll)
Due to new legislation passed in December 2016, AU Employers have to register to withhold back packers tax by 31 Jan 2017 and will be penalised if they don’t do so. We will building functionality into Payroll in Xero to help users apply the BackPacker Tax.
Employee Setup Improvements (NZ Payroll)
Setting up employees in Payroll correctly with accurate opening balances is critical to avoiding major payroll issues such as being paid erroneous leave amounts, inaccurate annual and leave entitlement levels and incorrect leave amounts on payslips, Xero Me and My Payroll features. Improving opening and leave balances in setup will help reduce risk of incorrect leave calculations.
And that’s a wrap.