In a statement, Xero said the feature has been designed to help accountants and bookkeepers to increase efficiency, improve accuracy and save time.
Angus Norton, the firm's chief product officer, said Xero continues to deliver innovations to simplify day-to-day tasks and improve the mundane tasks that can often shackle productivity.
“We asked our accountant and bookkeeper communities how we can improve their business and help them focus on meaningful business with their clients,” he said.
“Find & Re-code provides an easy solution to a previously time intensive problem. Xero provides the complete platform for small businesses and their advisers to communicate and collaborate with real time accurate information - and we will continue to listen so we can create even more magic.”
According to Xero, the new release has four key benefits for accountants.
• A powerful search and analytical tool that allows advisers to identify, assess and correct transaction issues easily. Advisers can build complex search criteria through single or multiple search filters across bank accounts, expense claims, invoices or bill transactions so recoding can be completed individually or in group lots. Search by user is especially useful for tracking and amending user errors in bulk. The solution allows advisers to create their own transaction listing reports based on a variety of criteria for easy analysis and correction when necessary.
• Advisers can use a query builder to select and quickly re-code accounts, tax rates, tracking and contacts across multiple transaction lines, removing the burden of making manual adjustments one-by-one. Bookkeepers and accountants have flexibility to work in the way that best suits them, either by editing the source transaction or creating a journal to reflect the change.
• Duplicate or multiple accounts and contacts can be quickly cleaned up into single source files.
• Xero stores a full history of re-coded transactions to ensure transparency.