Client Accounting
- Purchase orders are coming soon. They will flow into Bills and fully editable. Quotes are improved and they feed directly into Invoices.
Notes: this will help retail stores and wholesale become able to utilize basic inventory management within Xero.
Suggestions/questions: ‘Sales’ should be renamed Revenue and ‘Purchases’ should be renamed Expenses. Would also be great if there was a payment button for multiple invoices on statements.
Files
- Files can now be accessed and attached to Xero invoices, chart of accounts, journals, etc. goes live in Oct. 2013
Note: can email invoices & bills into Xero and drag and drop them to respective xero transactions.
Suggestions/questions: What is the backend? Drobox? Box? Gdocs? Either one would be amazing.
Reporting
- Much more customization: formulas, columns, tracking, filtering – basically, everything you’d want.
- Report packs for accountants: makes scaling easier for similar verticals
Note: This comes live in 2014. Could have more once I get my hands on it, but seems like this is a solid update.
Suggestions/questions: Would like it sooner but c’est la vie.
Payroll
- Seamless accounting and payroll: payroll is embedded, all entries made immediately into P&L and Balance sheet
- Basic HR function with visual graphic for who’s on, who’s requested time off, when, etc.
- Direct deposit, efiling, epayment all the good stuff you’d want.
- Employee dashboard including iphone app
- Basic Timesheets, although open API to connect with other 3rd party services (out in 2014)
Note: Should be awesome. Pricing is more attractive than Intuit Online Payroll. Accounting plus 10 employees for payroll is $70/month. Seems like they are bringing payroll and HR embedded into the program. Expected Nov. 22nd 2013
Suggestions/questions: Needs to be perfect as it is embedded. Would like a full rollout on efiling for all states, but rolling out Fed & CA first and then to other states after that.
Overall, exciting features to look forward to.