At S&W, our team of expert accountants in Sydney has been assisting clients with implementing and utilising Xero for several years. We stay up-to-date with the latest developments in this field and are excited to share the recent news and updates related explicitly to Xero.
- If you are still getting your staff to process and prepare expense reimbursements on paper, you must stop and contact us immediately. Xero has an Expenses Claim tool and is now even better with many more features. You, your staff, and your bookkeeper can seamlessly upload and code up the expenses. You can also now perform better expense analytics.
- Projects and payroll integration – you can now bill your customers for the expenses incurred for the specific projects and reimburse your staff using Xero’s payroll;
- If you want to track the business health or performance of small businesses in Australia, click here – https://www.xero.com/small-business-insights. Xero Small Business Insights is regularly updated using data from over 500,000 Xero subscribers (approximately 24% of 2.1m small businesses in Australia).
- As of last month, Xero has implemented a two-step authentication. This will give Xero users additional layers of security to protect them from phishing and malware.
- Below is a summary of two great Xero Add-ons our clients use.
Unleashed – inventory management tool.
An online inventory management software built to work and integrate seamlessly with Xero. Suitable for manufacturers, distributors, wholesalers, and retailers.
Features:
- Gives you online access to accurate inventory data and sales margin on the go;
- Flexible order fulfilment so you create and manage your orders – no more running out of stock;
- Track and trace all stock through all stages of production. Maintain visibility of perishables with batch number and serial number tracking;
- It can handle multiple currencies, so it is a global supply chain solution
- Can track and report on multiple warehouses in any location
Cost – 14 days free trial with price starting at $1080 for an annual subscription or $109/month for 1 user.
https://www.unleashedsoftware.com/
Receipt Bank – time saver.
This software helps you extract and load suppliers’ receipts and invoices into Xero quickly and accurately. No need to hire someone to do the data entry anymore. Suitable for all businesses
Features:
- Invoices and receipts can be submitted to a custom email address for automatic processing on the go;
- The data is usually extracted and ready for upload into Xero once approved. Usually takes 2-3hrs for the data to be processed;
- Works with Xero to match the submitted invoices and receipts to the bank feed in Xero to save more time when doing the bank reconciliation;
- All invoices and receipts are stored safely and securely and are compliant with ATO requirements;
Cost – 14 days free trial with prices starting at $21.95/month for 50 invoices or $43.95/month for 100 invoices.
https://www.receipt-bank.com/add-ons/xero/
If you have any questions or want to know more about Xero or the addons above, please contact us.
Kreston Stanley Williamson Team
*Correct as of March 2018
Disclaimer – Kreston Stanley Williamson has produced this article to serve its clients and associates. The information contained in the article is of general comment only and is not intended to be advice on any particular matter. Before acting on any areas in this article, you must seek advice about your circumstances. Liability is limited by a scheme approved under professional standards legislation.
