February 2022

Quarterly product update

New releases in the last 90 days:

Dashboard:

  • Account watchlist – budget column – You can now show a ’Budgets’ column in the account watchlist to track your spending against your Xero budget.

Projects:

  • Project Financials report – We’ve created a new Project Financials report that details financial transactions to help you track your expenses against your budget. You can also now access project reports from within the Xero Projects screen, saving you the hassle of accessing them from the Report Centre.
  • Xero Projects – Edit dates for expenses – You can now edit dates for expenses you’ve created within Xero Projects.
  • Xero Projects – Manage staff access – Assign staff or subcontractors to projects to limit what they can see:
    • ‘Limited’ users can see public projects whether they’re assigned to them or not, and private ones if they're assigned to them.
    • ‘Admin’ and ‘Standard’ users can see both public and private projects.

Expenses:

  • Xero Expenses – manage expense setup – Employees can now set themselves up for expense management and enter their own bank details into Xero Me. This streamlines the expense-claims process and eases the administrative burden for Xero admin users.

Invoicing:

  • Products and services – We’ve updated the UI for the Product Details, Edit and Adjustment There’s a summary of key information at the top of the item view, and the Edit item button is now more easily available. The new Adjustment button is now more obvious, and when confirming any adjustments you’ll be shown not only what has changed, but by how much.

Bank:

  • Bank reconciliation – compact view – The new Compact view switch on the Bank Reconciliation screen displays a condensed view that shows more transactions per page.
  • Bank reconciliation – predictions – We’ve developed machine-learning algorithms that predict the contacts and account codes of your transactions. Check out our blog on 'using data for good' for more information on how this works.
  • GoCardless – Import and match mandates – The new ‘mandate matching’ feature lets merchants import their active mandates so they can manually match the mandates to their customers.

Reporting

  • Budget Variance report and variance column – We’ve created a new Budget Variance report, and added it as a common format of the Profit and Loss report so you can access it with one click. You can also add variance columns to reports like the Profit and Loss and the Balance Sheet.

VAT:

  • Attach a file on a VAT return – You can now attach most standard file types to a VAT transaction from either the Transactions by VAT box or Transactions by tax rate tabs of a VAT return.

Mobile:

  • Xero Accounting mobile app (Android) – new contacts UI
    • The improved search returns all results where the search term appears at any position in the search field, making it easier to find the contacts you need.
    • The new Contacts screen also shows what each contact owes or is owed, without the need to open each contact.

What’s coming:

  • Cash Summary report – We’re working on a new Cash Summary report that has more customisation options and provides a refreshed experience in line with other new Xero reports.
  • Executive Summary report – We’re building a new stand-alone version of the Executive Summary report that includes some of your most-requested features, including:
    • More flexible date ranges with a year-to-date option and comparative periods
    • The option to save as custom
    • The ability to add commentary text
  • Report templates – We’ll soon introduce an improved grid and settings panel for report templates. All the great features will still be there – we’re just making it more intuitive and efficient, and giving it a fresh new look.
  • Short-term cash flow – You’ll soon be able to bulk-update the date you’re planning on paying bills or expecting payment from a customer. You’ll also be able to download the report as a PDF, so it can be shared and saved.
  • Xero Accounting mobile app (Android)
    • Your clients will soon be able to create and edit a purchase order on their mobile device. At the moment, they can only view purchase orders they’ve created through the desktop.
    • We’re adding the ability to select which bank accounts are included in the overall cash balance on the Home screen.
    • Your clients will soon be able to create cash transactions from the Find and Match screen on their mobile device.
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