Covid-19 resources for your business

Xero have created a Business Continuity Hub in Xero Central with all the latest updates that Xero have released, such as articles, webinars, FAQs, loan eligibility trackers and even support for working remotely, to help your business through the Covid-19 pandemic.

They have also created two adviser-only reports – the Business Insights pack and Business Loan pack, which you can access if you contact your Client Manager. These will allow you to review and track the Key Performance Indicators (KPIs) you need to be monitoring in the current climate.

Core product releases

  • Xero are constantly releasing new mobile updates so you can manage your business on the go. New features include:
    • The ability to attach documents to bank reconciliations in Xero from your mobile
    • Location tracking for mileage claims so that mileage is mapped directly from your journey
  • Xero have also introduced a new credit limit functionality when setting up a customer. This will filter through to each of your invoices and flag up when a customer has exceeded their credit limit, allowing you to make the decision as to whether to sell to them or not.
  • If you use Xero Projects, quotes accepted by your customers can now be converted into invoices directly within the project without having to go back and forth linking the two together.

CIS update

  • The function to create CIS invoices from your phone is now available where previously this could only be done via the browser.
  • A new CIS audit report has now been released which shows you all CIS transactions within the period. This will make it much easier for you to review the background data and easily spot any errors.

Expenses update

  • Updates to the Xero expenses app now enable you to account for expenses which are non-reimbursable.

Payment methods update

  • For those that regularly create batch transfers, TransferWise has now been updated to make the existing process more user friendly.

Small tweaks to make your life easier

  • You can now search reference field data in the bank reconciliation screen. This is particularly helpful for those of you who use Stripe.
  • In addition, Stripe feeds can now be deactivated directly via Xero and can be reactivated within three days. This could be previously only be done directly from your Stripe account.

If you have any questions or want further information on anything discussed above or have questions on products you could be using to make your life easier, please contact your Client Manager or call us on 01474 853 856 or email discovery@a4g-llp.co.uk.

Contact me today!

Emma White

FCA

Partner

01474 853856

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