Latest XERO accounting software news

May 09, 2023

Xero has made power developments and upgrades, and this article will comprehensively assist you in learning the latest news in March.

Here are the latest features we've rolled out in new reports (don't forget we're retiring legacy reports on July 31, 2023): 

  • Foreign currency columns are now available in the Invoice Detail, Invoice Summary, Invoice Detail and Invoice Summary reports 
  • Advisors can now add Tax Disposal Schedule, Tax Depreciation Schedule, Consolidated Summary and Consolidated Detail Reports to report templates in Xero HQ.
  • In Short-Term Cash Flow, you can now sort by description and amount and reverse the sort order in the summary view of the forecast segment.
  • Chart icons appear next to Business Snapshots and Short-Term Cash Flow in Report Center to indicate that they contain charts.

How XERO build on the beauty

Xero is making some modifications as part of their commitment to building beautifully - it's about constantly updating technology to develop new features faster, giving our platform a consistent look and feel, and ensuring maintaining Accessibility eyes.

  • Changes to the language and design of the online bills customers receive (without adding online bill pay) to make them easier to manage and act on
  • Xero is updating some pages to help you request bank feeds using paper forms to make setting up bank feeds easier.
  • An added keyboard shortcut for new invoices, a tab to navigate, enter to select items, and more.

More new features

Xero has updated the list of business structures in Xero Practice Manager (XPM) and Xero HQ to be region-specific for both tools, including all relevant legal entities. 

Add and edit notes for contacts

You can now add and edit notes for contacts. It can be done from the Add/Edit page in Contacts. Notes display on the contact overview page. 

New customers receive a new bill by default 

New Xero customers are now redirected to the new bill by default. You can switch to the old "Classic Invoice" at any time. 

Globally Available Chart of Accounts Templates 

The Xero HQ CoA template is now available for consultants worldwide. You can copy and modify this template to suit your practice or import a new one.

Domestic violence leave added to Xero payroll - Australia 

Payroll administrators can now deal with domestic violence leave in the home under new legislation for employers. It shows as regular income on pay stubs but is reported to the ATO as a holiday. 

Mid-Year Migration to Xero Payroll - Australia 

Switching payroll software in the middle of the tax year can be challenging. Our new migration reporting feature reduces complexity by linking single-touch payroll data from your legacy provider to further information reported through Xero Payroll. 

Single Touch Payroll Phase 2 - Australia

With just over a month until Xero's reporting delay ends on March 31, 2023, all customers using Xero Payroll can now complete the transition to Single Touch Payroll Phase 2 reporting.

New BAS Overview Page - Australia

Xero has created a new BAS overview page which will replace the current drop-down menu in the disconnected BAS on March 30, 2023. This page allows you to understand the records of your business activity better. 

Calculating the State Pension Age for Xero - UK

Xero will automatically detect if your clients have reached the statutory retirement age and ensure that social security contributions are exempt from HMRC filings.

Data Extraction from Paper Bank Statements - USA and Canada

You can now use Hubdoc's statement extraction feature to extract data from scanned PDF paper statements (not just digital versions downloaded from banks). 

Remove Tax Rate Field in Products and Services - USA

Xero removed the "Purchase Tax" field in Products and Services to simplify the "Add Item" and "Edit Item" experience and improve the accuracy of tax calculations and financial reporting.