Xero product release update: March 2017

And that is the first quarter of 2017 done and dusted. What a start to 2017! We hope your first quarter was a successful one. Like our recent release of machine learning, we’re continuing to invest heavily in our product development. We are super pumped for the next 9 months and we know you will be too, once you see what’s in store.

Remember you can find all changes and release updates to Xero in the Help Centre. Another great place to keep up to date with some of our coolest releases is our feature timeline.

Released March ’17:

• Account code suggestions on new invoices (machine learning)
• Cash coding – discuss tab enhancement
• Bank rec – update to search
• Advisor Menu & Report Centre update
• Xero HQ practice overview
• Common Dates (MTD, QTD, YTD) in Reporting

Payroll updates

• End of fiscal year updates

Mobile updates

• Xero Practice Manager staff assignment (iOS)
• Xero for Android – Quotes enhancements

90 Day Window – What’s Coming

• Find & Recode enhancements
• Aged Receivables & Payables added to New Report Templates
• Contacts lookup & indicators of credit risk (AU & NZ)
• Indirect statement of cash flows
• Check printing (US)
• Transfer bank rules
• Summarised Reports
• Attach files to quotes (Android)

Account code suggestions on new invoices (machine learning)

As of March 2017 we introduced machine learning to a pilot group of customers that automatically suggests account codes on new invoices. This model learns your invoice coding behaviours. It notes any mistakes recognised by accountants or bookkeepers, and includes corrections, reaching 80% accuracy after only four invoices. Learn more this pilot release on the blog.

Bank rec – search multiple invoice numbers or reference fields

In bank rec, when you go to find & match, you can now search multiple invoice numbers or reference fields at once. In the “search by name or reference” field, enter invoice number or full reference, divided by a vertical bar for each query. The search results will return matches for each item.

Cash coding – pull through description from the discuss tab in Find & Match into bank rules

In bank rules, if you enter “[Comments]” in the Description field, the contents of the Discuss tab in Find & Match will be pulled through to cash coding. After bank rule is applied on the cash coding screen, the comments from the discuss tab are copied into the description.

Advisor menu & report centre update

Following on from our latest update, we have made further changes to the advisor tab and cleaned up our navigation to make way for some more cool product coming later this year. Check out the blog for a number of enhancements to the advisor menu and report centre.

Practice overview in Xero HQ

Additionally practices can now track their Xero partner status in real time using the practice overview. Learn more about how you can track your journey with Xero on the blog.

Common Dates (MTD, QTD, YTD) in Reporting

We have enhanced the date picker to include dates that update themselves as at today’s date. So now you can 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. Check out the blog for more.

Payroll updates

Mobile updates

Xero Practice Manager staff assignment (iOS)

In the latest release of our WorkflowMax iOS app for Xero Practice Manager, you can now assign staff to jobs and tasks. Don’t have the iOS app yet? Download here or get WorkflowMax for Android. Read more about the release on our blog.

Xero for Android – Quotes

Enhancement 1 – With the latest Xero for Android release you can create and send a quote while still on site for example, and get approval faster.

Enhancement 2 – You can now mark quotes as sent, accepted or declined and view this status in the app.

90 Day Window – What’s Coming

Find & Recode enhancements

With the upcoming Find & Recode release for advisors, you soon can easily recode manual journals. You’ll be able to search for transactions by bank account, invoice number or the reference. Consequently cleaning up accounts in Xero is now done at lightspeed.

Aged Receivables & Payables added to report templates

Our community have requested that we provide Aged reports in the new Report Templates. This will enable our Xero Advisors to bundle up Xero Reports together and provide Management Reports using our powerful new reports for their clients.

Contacts lookup & indicators of credit risk (AU & NZ)

Soon you’ll be able to search for a business in Xero using their street address, postcode, business name, business location, or ABN. Xero will pre-populate the business contact’s information and provide a view of their credit risk (AU) or payment risk (NZ) inside Xero, based on data provided by our integration with Equifax. Find out more about this release on the website www.xero.com/nz/equifax/  for NZ and www.xero.com/au/equifax/ for AU. 

Indirect statement of cash flows

You’ll soon be able to create a GAAP-compliant Statement of Cash Flows report in Xero using the Indirect method. No more need to cobble it together from other financial statements, just one click and you’re done! As with all our new reports, you’ll have all the customization options you need.

Check printing (US)

Xero will shortly give 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.

Transfer bank rules

Soon you’ll be able to create a bank rule to transfer money between bank accounts. So once we’ve released this feature, next time you do a bank transfer between 2 accounts in your Xero, these will auto code for you. Simply hit ‘OK’ and move on.

Summarised Reports

Currently our Report users see a lot of detail in some of our reports. With this new enhancement coming out soon, by summarising group totals users can focus on key reporting information. Therefore the new feature will assist in preparing trial balances by showing movements for the selected period and assist UK partners who require this for more efficient compliance work.

The post Xero product release update: March 2017 appeared first on Xero Blog.

Source: Xero Blog