Every quarter we will be keeping you up to date with what is new in the world of Xero.
With the third quarterly product update of 2023, Xero have introduced more new features, alongside improving reports and functions to make usage more effective.
Make sure to read to the end to learn about four key ‘shortcuts’ to utilise within Xero reports.
New reports
From 31 July, old reports in Xero were retired. With the new reports, you can set specific reporting preferences for the organisation you are working on. This eliminates the need to adjust the settings for each report and allows the saving of templates that use the preferences automatically.
Also, within the reports page, you can now use the global search function to search for invoices, bills, contacts and more, without having to navigate away from your report into a different tab.
All reports exported to spreadsheets will open at the default size of 100% as opposed to 150%. Titles and subtitles have been made smaller whilst main text font has been made larger. This improves clarity and gives the reports a cleaner look upon initial review.
Bank summary report
You can now add columns for:
- Bank account type to express whether an account is a regular bank account or a credit card.
- Status, to show whether an account is active or archived within Xero.
There is also now a field available within the reconciliation summary report, to input the statement ending balance, which allows you to view the balance and the reconciled statement lines in the same report.
Trial balance
New columns have now been added for:
- Debit – Month
- Credit – Month
This allows you to view monthly movements for quick and easy analysis.
Fixed asset reconciliation report
Within the report you can now navigate to the Account Transactions, Balance Sheet and Depreciation Schedule Reports. This, along with the addition of the ‘difference’ underneath each category, makes it easier to identify any incorrectly coded assets and check the accuracy of other transactions within Fixed Assets.
Bills/purchase invoices
The following improvements have been made to the bills list page:
- Data automatically refreshes when you click on a new tab.
- ‘Show overdue bills’ filter is now accessible on all tabs that display any unpaid bills.
- You can now export an empty file if your search returns no results.
- Customisation of columns to reorder and remove them to view those with highest importance.
Xero mobile app
Users of the mobile app that complete bank reconciliation can now:
See important information about a transaction (Date, Amount, Payee) without needing to click into it.
View multiple transactions on a single page.
View and easily scroll through a list of transactions.
Click ‘more options’ instead of needing to swipe left or right.
KEY shortcuts
Within reports, Xero have now added the following keyboard shortcuts to save you scrolling time:
To open up the list of keyboard shortcuts to turn them on and off, press Ctrl /
- Shift s – Updates the report automatically.
- Shift f – Filters the report.
- Shift d – Opens up the date range selection option.
- Shift e – Edits the layout of the report.
Xero are hoping to add more shortcuts in the future, across the whole of Xero and not just within the reports page, so keep a look out for future updates.
The next step
For more information, please contact Cael Ogden on c.ogden@uhy-manchester.com, or your usual UHY adviser.
