OBC goes to Xero's Evolve Roadshow

For five years now OBC has been working closely with the New Zealand cloud accounting package Xero.

We pride ourselves on keeping up to date with all new releases and bringing them to our clients as soon as we can.

Therefore, we take this opportunity to detail what we learnt at the latest Xero event yesterday.

 

Find and Recode – A new function to amend transactions that have already been reconciled. It can be found under the advisor tab. It allows you to find and select bulk transactions and change a certain thing about them all at once. It could be the account, the tax code, the payee name etc. This should save time when wanting to correct a large quantity.

 

Payroll function – Xero are advertising this as an alternative to your payroll bureau. After the initial set up, this function could allow you to run and amend payroll directly through Xero. It has all the functions needed with regards to auto enrolment and HMRC submissions. There is a slight uplift on the normal Xero charge and is currently only suitable for a business with a small number of employees but we are looking into this for some of our clients

 

Management ratios – This is an upcoming feature that will be released sometime this year and seems very useful. It gives different ratios such as debtor days, creditor days, current ratio, gearing etc over the specific time period you select in the form of graphs but also detailed figures. No input needed – it feeds through from the Xero data.

 

Xero Add-Ons – We spoke to many Add-On partners yesterday including Receipt Bank and Chaser. These are very useful systems which can save a business time on input and credit control.

 

If you wish to have further details on any of these subjects or other matters relating to Xero and its Add-Ons, please contact me on katyb@obcaccountants.com

 

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