Cloud business software maker Xero has added new features designed to help small businesses find and fix transactions that may have been miscoded or need to be changed. The company says the Find & Re-code feature helps more rapidly correct errors that often come through with small business accounts.
“Xero continues to deliver innovations to simplify day to day tasks and make the mundane tasks, that can often shackle productivity, magical,” said Angus Norton, Chief Product Officer, Xero. “We asked our accountant and bookkeeper communities how we can improve their business and help them focus on meaningful business with their clients. Find & Re-code provides an easy solution to a previously time intensive problem. Xero provides the complete platform for small businesses and their advisors to communicate and collaborate with real time accurate information - and we will continue to listen so we can create even more magic.”
It’s common for tax or account codes to need adjustment when reviewing clients files at year end or taking on new clients, and its very normal for busy business owners people to make coding mistakes when they do their own books. Find & Re-code simplifies and automates the process of searching for transactions and updating them all at once.
“Time is money to both advisors and small business owners. Xero’s suite of practice tools adds value through creating efficiencies that benefit both the accountant or bookkeeper and their clients. Tasks that used to take hours to complete can now be completed in seconds,” said Grant Anderson, Head of Accounting (NZ).
Xero’s suite of tools assists accountants and bookkeepers to increase efficiency, improve accuracy and save time. The addition of Find & Re-code will also enable Xero users to maintain accurate data whether it may have been miscoded by a client or transactions need to be moved from an expense to asset code as they hit a threshold.
“With best practice bookkeeping and our training program, keeping a tidy ledger with data integrity for management reporting is our number one priority and a GIVEN so we continue to be a chartered accountants dream! All too often we have to answer an SOS call from a client with no training and an abused ledger where all you want to do is remove and redo everything and start fresh. Find and recode is a bookkeepers saviour from hours of TLC fixing codes one by one and crying at the injustice of ledger neglect. Thank you xero for always future proofing bookkeepers added value to clients!” - Lisa Martin, Go Fi8ure Bookkeeping (NZ).
Key benefits of Find & Re-code include:
- Find: A powerful search and analytical tool that allows advisors to identify, assess and correct transaction issues easily. Advisors can build complex search criteria through single or multiple search filters across bank accounts, expense claims, invoices or bill transactions so recoding can be completed individually or in group lots. Search by user is especially useful for tracking and amending user errors in bulk. Allows advisors to create their own transaction listing reports based on a variety of criteria for easy analysis and correction when necessary.
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