September 25, 2018 — After their successful Xerocon in Brisbane, the accounting software company released yet another rundown of the latest features of Xero for the month of August.
Features included in this product release update mostly focused on improving security, management of fixed assets, payroll, activity statements as well as invoices within platforms like Xero Projects.
Here is a roundup of the latest developments for Xero as of August 2018:
- Find & Recode Upgrade
- Mandatory 2SA for Payroll (AU)
- 2SA Alternative Email Address
- Private Use Depreciation (NZ)
- Lodging Activity Statements (AU)
- Running Balance in Report
- Upgrades to Xero Projects
- Access to Invoice List (Mobile)
- App Recommendations
1. Find & Recode Upgrade
Enhancements were added to the search functionality within the Find & Recode feature, as search parameters like bank account, reference as well as invoice number are already available, thus making Find & Recode a walk in the park.
2. Mandatory 2SA for Payroll (AU)
Payroll admins and subscribers in Australia are now required to have 2SA (two-step authentication) activated for Xero Payroll, in line with the new ATO requirements when it comes to the security of taxpayer information.
Two-step authentication is designed to create extra layers of security, in which you have to enter a security code as produced by your phone’s authenticator app once you log into your Xero account.
Compulsory implementation of 2SA had already started in September 11, 2018. Be able to learn on how to setup your two-step authentication by visiting this article from Xero Central.
3. 2SA Alternative Email Address
Users can now also add an alternative email address for recovery purposes in case you already setup 2SA, but doesn’t have access to your authenticator application.
Check out this article to learn more about setting this feature in Xero.
4. Private Use Depreciation (NZ)
For NZ Partners — you would now be able to separate client assets into private and business purposes for easier tax designation of assets to the business portion, and fixed assets for private use depreciation.
5. Lodging Activity Statements (AU)
As previously mentioned at Xerocon, Xero partners — specifically BAS agents can now lodge their Business Activity Statements (BAS) with the ATO (Australian Taxation Office) with Xero’s Submit BAS function. Learn more about this feature by visiting this article.
6. Running Balance in Report
Also, account transactions report in Xero has a running balance feature which allows you to easily keep track of your accounts as well as reconciled transactions, without the need for too much hassle in calculation!
7. Upgrades to Xero Projects
For mobile users of Xero Projects, you can now create invoices straight from your device and be able to send out invoices to your customers anytime, anywhere!
Also, users of web version can now link credit notes against invoices for an accurate view of their A/R inside the platform.
8. Access to Invoice List (Mobile)
Also on mobile — improvements were also added to the app’s invoices list, in order for you to get an instant view of your list of receivables using your device.
9. App Recommendations
Xero now has an extension page inside the accounting software which would help you look for the cloud-app solution that you need. Just go to apps.xero.com and set your industry to view recommended apps, straight from the Xero app marketplace!