Latest product news — December 2022

Get ready to switch to new reports

If you haven’t made the switch to new reports, we urge you to start moving your work across now, so you have plenty of time to get used to them before the older versions are retired. Here are the latest features we’ve introduced to new reports:

• We’re introducing a current financial year by month report as well as a Bank Reconciliation report pack
• We’ll now remind you to save your custom report before you navigate away from it, so your changes aren’t lost
• You can now add a Cash Summary report and Executive Summary to report templates in Xero HQ
• When you select the figures in the ‘This month’ column on your accounts watchlist on the Xero dashboard, you’ll now be taken to the new version of the Account Transactions report
• Any columns with zero balances will no longer be displayed in Profit & Loss report (tracking common formats), so you’ll only see the columns that contain data
• Our Xero Analytics tools, short-term cash flow and business snapshot, are now available in the report centre, as well as the business menu in the navigation bar
• We’ve released a new 2022 Schedule C report template for advisors in the US. The old template will still be available if you need to catch up on your 2021 filing

See how we’re Building on Beautiful

We’re making some changes in Xero as part of our commitment to Building on Beautiful — which is about continuously upgrading our technology to build new features faster, giving our platform a consistent look and feel, and making sure we keep accessibility top of mind.

• We’re making design improvements to the groups feature on the ‘All contacts’ page in contacts. There will be no change to functionality
• We are introducing payroll history to the Organisation, Calendars, Pay Items and Superannuation tabs in the payroll settings section of Xero Payroll (Australia only) 
• The invoice list in the Xero Accounting app (Android only) is being refreshed, making it easier for you to view and find information about your business.
• We’re refreshing the new item creation page in products and services, within inventory in Xero
• We’re refreshing the leave, timesheet and approve screens within Xero Me

Other new features in Xero

Hubdoc credit note detection — Global

Hubdoc will use machine learning to identify when a document may be a credit note and flag it to you for review. This feature will be rolled out gradually over the coming weeks.

Changes to XPM and Xero HQ — Global

We’re making changes to your Xero Practice Manager (XPM) and Xero HQ account. Some changes were introduced in November, while additional changes to fields in Xero HQ will apply from 12 December.

Enhancements to job manager in XPM — Global

We’re rolling out enhancements to the job manager ‘All Jobs’ tab in XPM from 1 December 2022. It features new sorting, filtering and search functionality, as well as the ability to update the priority and state directly within the table.

New customers default to new invoicing — Global

We’ve started to make new invoicing the default experience for new Xero customers. Classic invoicing is still available and you can switch between the two at any time.

Get help within Xero — Global

You can now access Xero Central support articles without leaving Xero, by selecting the question mark icon in the navigation bar at the top of the screen.

Sort document packs in Xero HQ — Global

You can now sort document packs by the date they were completed, as well as their created and sent date. The unique URL can also be bookmarked or shared for later use.

Map different tax rates in Shopify — Global

We’ve updated the Shopify integration by Xero with improved sales tax functionality for businesses in Australia, NZ and the UK. This will help you manage your tax obligations, while streamlining the process of reconciling Shopify sales with payouts. Try it free for 30 days on the Xero App Store.

Auto super accounts in Xero Payroll — Australia

To keep your Xero account secure, we’re asking you to connect an active bank feed to your registered automatic superannuation account.

Final stage of STP Phase 2 transition — Australia

We’re pleased to let you know that all three stages of the STP Phase 2 transition are now available in Xero Payroll, to help you update your data to the new filing standard.

Additional fields in Xero Tax — Australia

We’ve added 26 company return fields to our report builder in Xero Tax. This will provide you with richer data, so you can manage time-sensitive lodgements for your clients.

New GST rate in Xero — Singapore

The GST rate for Singapore businesses will increase from 7% to 8% on 1 January 2023. We’ll make the new 8% rate available in Xero by 9 December 2022. Find out how to manage this change on the blog.

Changes to tax rates for low-value goods — Singapore

There will be some changes to tax rates of imported low-value goods and remote services that will apply from 1 January 2023. We’ll have new tax codes to account for these transactions in Xero.

ZAR billing now available — South Africa

We are now offering Rand (ZAR) billing to customers in South Africa. Our team will help existing customers to move their subscriptions across, with new subscriptions only available in ZAR.

New BMO bank feeds — US and Canada

Our BMO bank feed is now available for small businesses in the US and Canada, allowing you to see your BMO transactions automatically flow into Xero once a day.

Import clients in bulk to Xero HQ — UK

You can now use the ‘Import clients’ option to add sole trader and individual client types (with tax data) in bulk to Xero HQ.

Partnership income in Xero Tax — UK

We’ve added a new schedule to help accountants and bookkeepers report their clients’ share of partnership profits. Xero uses the details to produce a SA104 form and calculate the correct amount of tax.

Store government gateway IDs for personal tax — UK

You can now store government gateway ID information in Xero Tax and easily toggle between details when submitting a personal tax return.

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Source: Xero Blog