Xero Update Q4 2021
As we start to think of the end of 2021 Xero have provided their final quarterly update of the year with their new features and what to expect in the coming months. We have highlighted our top updates for the quarter relevant to small businesses.
Invoicing
All the features for invoices listed below are for the new invoicing layout. This is accessible to all users when creating a new invoice you can either see a “switch to new invoicing” (in which case you are currently in the classic style) or you will see “switch to classic invoicing” (in which case you will be in the new invoice style).
show/hide invoice fields
On the new invoicing layout there is a button show/hide fields here you can select what fields you want to see when creating your invoice. Any that aren’t ticked will be removed from the invoice. This will allow for a cleaner and clear invoice for both you and your customer.
add last items
Add last items will allow you to fill out the invoice for a customer using the information from the last invoice created for them. When you select a customer in the to field an option will appear to add the last items, once you click this all the details from the last invoice will be pulled through to the current invoice from which you can then edit to be up to date.
repeating invoice banner
If you use repeating invoices, you may not be aware of when you are editing a repeating one or a one-off invoice. You will now see a banner appear at the top of any repeating invoice to show that this is how the invoice was generated. The banner will also highlight the frequency of the invoice and provide a link to the template that is being used for the invoices.
Bank rule search
You can now search for bank rules by either their name or the condition. To find your bank rules click the three dots next to your bank account then select bank rules. You will then have a search bar at the top of the screen where you can search for the various rules that you may have set up.
Reports
Common formats panel
There is now a collapsable side panel within your Profit and Loss and Balance sheet. This will allow you to quickly select the common formats for comparison in those reports. The report will then be built using the format selected so you don’t have to create it from scratch.
What’s coming up
Report description/ layout
Xero is working on a new report centre to make the reports you need easier and clearer to find. They will soon be adding report descriptions so that you can get a better understanding of what each report does and how this will help you understand your numbers as small business owners.