Xero has continued 2023 in strong fashion with their latest quarterly update. With new features being added, improvements on current functions and the removal of outdated functions and reports, you could say there is a new look to Xero.
At the end of this blog, there will be two ‘Top Tips’ that will help make your day-to-day Xero usage more efficient, so stay tuned!
New Reports
From 31 July, old reports in Xero will be retired. Make sure to update your favourites to the new reports to maintain quick and easy access. This can be done by locating the report and clicking the star icon.
Foreign Currency
If you have foreign currency transactions within Xero, you can now reflect this in the following reports:
- Balance Sheet
- Profit and Loss
- Budget Variance Report
Additionally, in other reports such as, Payables and Receivables, Summary and Detail, you can now:
- View transactions in the currency they were created.
- View foreign currency and the base currency side by side.
- Sort, filter and group data by currency.
In future updates, Xero are looking to add the conversion rate as at the date of the transactions.
GoCardless
For Direct Debit customers, you can now send GoCardless links before even issuing your sales invoices in Xero, so that the connection is set up in advance.
Bank feeds
Bank of Ireland bank feeds are now available again.
Quick tips
Share invoices - If you use the Xero mobile app, you can now share your sales invoices through social media platforms such as WhatsApp and WeChat. To do this, select an approved invoice, click Options, then Share, and then choose your preferred app out of the range of options.
Use placeholders in repeating journals - If you post regular manual journals, you can use placeholders in repeating journals to automatically include information about the period the journal relates to. From a draft repeating journal, complete the Narrative box, then click Add placeholder to set up any placeholders you feel are necessary.
The next step
For more information, please contact Cael Ogden on c.ogden@uhy-manchester.com, or your usual UHY adviser.
