Xerocon 2018 Summary

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This year Ashfords sent five attendees to represent the firm at Xerocon in Brisbane. This was an exciting time for the team to meet with a range of different add on software providers within the app marketplace, and network with other professionals and share experiences.

The Xerocon experience in Brisbane was actioned packed! Our team had the opportunity to attend various networking events hosted by Practice Ignition, Receipt Bank and the Xerocon Wrap Up Party.

During days 1 and 2 of Xerocon, our team attended various sessions, each collecting new knowledge and information to share with the rest of our firm. Some of the key takebacks were:

  1. Training and Development:
    1. Account transaction reports – multiple new features including multicurrency and running balance. This added flexibility allows for greater efficiencies with compliance processing
    2. Profit and loss reports – percentage of sales column. This tool is a handy feature to identify errors, spot trends over time and compare your business performance directly with other businesses and industry benchmarks
    3. Xero payroll two-step authentication – a reminder that this is now mandatory for all payroll admin and subscriber users as required by the ATO
    4. Xero payroll unscheduled pay runs – now available for each week of the financial year.
    5. Xero conversion toolbox – this new tool is a game changer for onboarding client’s data across to Xero. The tool allows you to import a range of data including your client’s chart of accounts, conversion balances, contacts and historical balances for up to five years.
    6. Xero online payment options – helping your clients get paid faster and decreasing late payments by 22% on average

 

  1. Marketing/Security:
    1. Boma Marketing – allowing businesses to manage their social media and email campaigns with good content
    2. Synergy8 – an all-in-one platform for digital marketing including website design, analytics, social media and email campaigns, marketing, events and commerce
    3. Security – increased threats of invoice manipulation through compromised email addresses, as well as hackers obtaining login credentials. Stay up to date on the latest security issues at ‘Xero Security Noticeboard’

 

  1. Bookkeeping:
    1. Xero acquired Hubdoc on 31/07/2018. The new fetch functions specialise in linking with banks and vendors, so you no longer have to log in and manually download statements
    2. Receipt bank – new developments and functionality including bank and reconciled match (matching items to reconciled items in Xero), customisable category rules, auto-publishing, accelerated extraction speed, auto-collect data from suppliers (fetch) and expense reports

 

  1. Business Services:
    1. Xero learn – easily create reusable course content to support your teaching, and give students access to a full live version of leading online accounting software, Xero. Provides an innovative learning platform and hands on learning experience
    2. New invoicing – new improvements and functionality for quicker processing of invoicing
    3. Xero Mobile App developments – Xero have invested a lot of time and resources in improving their suite of apps including:
      • Xero Accounting and Invoices (bank reconciliations, sales, purchases, etc);
      • Xero Me (payroll);
      • Xero Expenses; and
      • Xero Projects.

Overall, it was a fantastic experience with a lot of new and exciting features that we have taken back to share with our team and clients, to provide greater efficiencies with processing and compliance, and allowing greater and stronger knowledge towards business advisory and other services.

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