Xero Product Updates
Xero has announced a few updates and changes in their 2023 Xero Roadshow last month. We would like to share the following updates that may be relevant to your business.
Other new releases will be rolled out in the coming months, please stay tuned.
Payroll History Improvements
Xero has added history under all tabs of the employee records except for the Notes tab. Changes that have been made to employee details can now be traced and identified. Payroll history is also available in the Payroll Settings area of Xero. It is now possible to track the who, what and when of any changes made to your overall organisation settings, pay calendars pay item details or super fund details.
Xero also announced that history will be added to the Payrun section in payroll in the coming months. These improvements should achieve greater transparency and accountability and leave a clear audit trial in the accounting software. For more details, please follow the link below.
E-Invoicing through Peppol network
E-invoicing has been implemented in response to the government push for secure electronic transmission and receipt of invoices in Australia through the Peppol framework (click here to learn more). It is designed to increase efficiency and accuracy of invoicing by removing manual processing, minimising the risk of fraudulent invoices, facilitating faster payments and improving cashflow for business.
Xero users who connect to Peppol can now securely send invoices directly to their customers who are also connected to Peppol. The recipient does not need to be using the same accounting software and vice versa. If you feel E-invoicing may be of benefit to you or your customers, please follow the links below to explore.
Bills to pay – Register to receive E-Invoices
Send Invoices – Send an E-Invoice
New Reporting
You might have already noticed certain new reports and prompts on your screen. Please note the Old version reports will be retired on 31 July 2023 and will no longer be available from that date onward. Any published/archived reports will stay in the reports panel for you to view and export only. If you’re still using the old format reports in Xero, it’s time to switch to new reporting format.
If you are have customised reports/layouts under the Old version reports, please follow the prompts and Tips and Tricks panel to roll over the reports to the new version.
You can also complete the Reporting & Tracking course (click here) in Xero Central to learn about generating standard and customised reports.
Contact us if you would like to discuss.