The Xero-branded Practice Manager, a re-imagination of WorkflowMax Practice Manager, will form part of Xero’s Practice Studio suite of solutions for accountants, bookkeepers and financial advisers.
Speaking to AccountantsDaily, Laura Cardinal, product manager at Xero, said the updated Practice Manager will include several new features designed to make workflow easier for accountants and bookkeeping professionals.
One such feature is improved integration with Xero’s existing cloud-based accounting solutions, she said.
“Accountants won’t need to import any data or export any data to and from the practice management system, and with the cloud there is no additional hardware, they can access it anytime and the data is backed up,” she said.
Other new features highlighted by Ms Cardinal include an improved work in progress (WIP) management function.
The release of Practice Manager will provide a new user interface allowing accountants to better manage and view their WIP.
“This gives accountants better visibility over their productivity,” she said.
“It means accountants can get an idea of where they are spending most of their resources, on which clients, which is really helpful for them running their practice.”
Ms Cardinal also highlighted the 'company tax return' feature, giving accountants the ability to create company tax returns for tax years 2013 and 2014 and lodge them directly with the ATO.
“You’ll also have the benefit of real-time auditing, which means your company tax return will be checked for errors before you attempt to file, saving you time and the hassle of rework,” Ms Cardinal said.
Other improved features of the re-worked system include:
• Client module
• Global search
• Adhoc time entry
• Invoice and quote manager screens
• Header navigation