Xero’s newest release offers an updated accounting dashboard designed to help business owners get a clear view of their financial performance, putting them in better control of key business metrics. It also offers a number of new automated features intended to help business owners get more time back by eliminating some time-consuming tasks.
Rod Drury, Xero’s chief executive, said the release was designed to help accountants best utilise their time.
“The beauty of Xero is that it makes it simple and easy to stay in control – and the more you use it, the more time you get back,” he said.
A statement from Xero outlined the software provider’s new features:
• Users can gain a clear financial picture at a glance through dashboards that are easily personalised and prioritised – leading to smart, timely business decisions. This refresh paves the way for Xero’s upcoming Business Performance Dashboard, with big data insights for small businesses, due out early 2015.
• Built on Xero's new reporting framework, it’s now possible to click to view the detailed numbers in key reports such as Profit & Loss and Balance Sheet. This includes the Account Transactions report, which provides additional columns and groupings including gross, tax and net.
• It’s now possible for business owners as well as their accountant advisers to create repeating journals. This saves you time by apportioning costs such as business insurance throughout the year, eliminating the need to manually enter the cost multiple times. In addition, you can keep your manual journals organised with new bulk actions and archive capabilities.
• Repeating invoices are ideal for paying or receiving recurring payments of the same amount for items like rent, insurance or subscriptions. Once the invoice details and frequency are defined, Xero takes care of the rest. Owners can define dynamic placeholders that refer to the invoice or bill date – which eliminates the need to do it manually each time an invoice is sent.