At S&W we have been helping clients implementing and working with Xero for years. There are always new developments happening in this area so below we have listed the latest news and updates relating to Xero.
- If you are still getting your staff to process and prepare expense reimbursements on paper then you need to stop and contact us immediately. Xero has an Expenses Claim tool and it is now even better with a lot more features. You, your staff and bookkeeper can upload and code up the expenses seamlessly. 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 are keen to track the business health or performance of small businesses in Australia then click here – https://www.xero.com/small-business-insights. Xero Small Business Insights is regularly updated using data from over 500,000 subscribers on Xero (that is 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 that our clients are using.
Unleashed – inventory management tool.
An online inventory management software built to work and integrate seamlessly with Xero. Suitable for manufacturers, distributors, wholesaler and retailers.
- 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;
- 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.
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 just to do the data-entry anymore. Suitable for all businesses
- 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 is 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.
If you have any questions or would like to know more about Xero or the addons above please feel free to contact us.
Kreston Stanley Williamson Team
*Correct as of March 2018
*Disclaimer – this article has been produced by Kreston Stanley Williamson as a service to 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 contained in this article, it is imperative you seek specific advice relating to your particular circumstances. Liability limited by a scheme approved under professional standards legislation.