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New releases in the last 90 days
Web updates
* Reports – The new reports within Xero have now been updated to allow you to either type in the relevant dates you require or select from the calendar.
* Short-term cash flow & business reports – These reports were on a trial basis and will now continue to be available at no extra cost on the business subscriptions. If you have not used these yet they are really useful and worth a look at.
* Billable expenses – When using the new invoicing style you can now easily view and add any outstanding billable expenses.
* Quotes – When you go to either close your internet tab down or computer you will get a pop up message warning you that the changes will not be saved so you do not lose your work.
Mobile updates
i-phone Update (IOS):
* Find and match for bank reconciliation – This feature has been updated so that you can now select multiple items. For example when one payment has gone out of your account you can search for and allocate the payment against multiple bills
* Part payment – You can now allocate a part payment against a single invoice or bill during the bank reconciliation
Android Update:
* Find and match - When reconciling for a bank statement line you can now see a list of transactions to match with, once the transactions have been selected and the amounts reconcile you can simply match against each other.
Updates over both devices:
* Dark mode – The expenses app on both devices have now been updated to enable dark mode
Other updates:
* ReceiptBank app – Why not scan receipts as you go?...
With the ReceiptBank app you can scan your receipts as you receive them, upload into the app and let ReceiptBank do the rest of the work. You can then dispose of the receipt with no need to worry about losing or storing it.
* MTD (Making Tax Digital) – From April 2021 the “soft landing period” will be coming to a close. From the 1st VAT return starting on or after the 1st of April 2021 you will no longer be allowed to either copy and paste or cut and paste. You will now need to make sure that you have digital links in place between your accounting and VAT filing systems. The good news is that Xero is compliant as a digital link, if you are currently registered for MTD however filing outside of Xero you just need to convert over to the MTD VAT returns. If you have any concerns please get in touch with your Ward Williams client manager.
App Partners
Reducer integrates with your accounting software, analyses your spend data and compares prices from 100’s of suppliers to produce personalised cost-saving recommendations. If you decide to take up the savings, they handle the switch. They work like a price comparison site so it’s completely free to use.
Reducer will look at your spending in electricity, gas, water, payment processing, telecoms, broadband, waste, recycling and hosting services. On average, businesses find savings of £1,500 per year.
Way2VAT is digital solution to reclaiming foreign and low value VAT, by connecting to your accounting software using a patented artificial intelligence technology to read receipts for any relevant VAT. Once these transactions have been highlighted they will prepare an additional return separate to the usual VAT return and submit to HMRC. This risk free approach is attractive as they accept responsibility for any returns that are submitted to HMRC.
Spotlight Reporting allows accountants and business owners to create easy, great-looking performance reports, dashboards, cash flow forecasts and consolidations. Spotlight Reporting offers a great range of comprehensive performance reports, full three-way forecasting, customizable dashboards and advanced consolidated reports for multi-entity businesses and franchises. Our software empowers accountants to have great conversations with their clients and to add value to the relationship.
If you have any questions about the MTD changes please feel free to get in contact with a member of WardWilliams Creative.
