You’ll now be able to access the updated 2024 Schedule C template. The older 2022 version has also been removed, but the 2023 version will still be available. Plus, you can now set up and manage practice government gateway IDs for Xero Tax in one location. You can now electronically submit amended accounts, we’ve added additional notes on FRS 105 and 1021a allowing you to explain any changes and a handy file button to complete the submission. Data entry becomes less of a chore when you upload bills directly to Xero.

Does Xero integrate with Brex?

• The automated connection maintains consistency between both platforms, providing a single source of truth for all corporate card transactions.
• This collaborative approach ensures efficient workflow management and timely financial decision-making.
• When creating new items in your products and services inventory list, you can now duplicate and edit an existing item.
• Xero learns from previous entries to categorize transactions automatically and flags potential discrepancies for review.

Xero serves a diverse range of businesses, from self-employed professionals and small startups to established midsized companies. The platform particularly excels for businesses with multiple employees, remote teams, or those requiring collaboration with external accountants and financial advisors. Growing ecommerce businesses benefit from inventory management capabilities, while service-based companies leverage project tracking and billing features.

Each tier includes progressively more advanced features and capabilities to support businesses as they scale. Stop chasing late payments and take control of your accounts receivables. Learn how aging reports can transform your collections process & boost your cash flow.

The platform consolidates multi-currency transactions into standardized reports, simplifying international business operations and financial reporting. This comprehensive guide will dissect Xero’s innovative approach to accounting, demonstrating how cloud technology, automated workflows, and intelligent integrations can revolutionize financial operations. We’ll examine the platform’s core capabilities to uncover how Xero empowers businesses to streamline processes, gain real-time financial visibility, and make more informed strategic decisions.

UK: Streamlined tax workflow and compliance

The platform streamlines financial operations through automated bookkeeping and accounting processes, building upon a robust foundation of essential features. These include a structured chart of accounts, an integrated general ledger, and comprehensive financial reporting accessible through a customizable dashboard. Daily operations are simplified through automated bank reconciliation and intuitive cash flow management tools, while Hubdoc integration streamlines document handling for bills and receipts. The platform’s core workflows center around automated bank reconciliation, where transactions are matched against bank statements for accuracy and categorization. Users can create xero blog and manage professional invoices, track payment status, and set up recurring billing schedules. Bill payment processes include automated reminders, approval workflows, and payment tracking.

US: Simplify wholesale operations with enhanced sales orders

In an era when data-driven decision-making is more important than ever, traditional accounting workflows mired in spreadsheets and paper-based expense management processes are increasingly falling short. Businesses require agile, comprehensive financial tools that provide instant insights, enable seamless collaboration, and adapt to rapidly changing economic landscapes. Built-in compliance features handle tax calculations and reporting requirements automatically. Xero maintains audit-ready financial records, calculates sales tax, and generates required reports. This automation reduces compliance risks while ensuring businesses meet their regulatory obligations without extensive manual oversight. Xero provides comprehensive cash flow management through real-time payment tracking and automated reminders.

This collaborative approach ensures efficient workflow management and timely financial decision-making. Implementing the right accounting software can transform how businesses manage their financial operations and drive growth. Here are the top five benefits that make Xero a powerful solution for businesses seeking to streamline their accounting processes.

Real-time access to financial data combined with automated processes significantly reduces manual bookkeeping tasks. The platform automatically processes bank feeds, categorizes transactions, and updates financial records, saving hours of data entry time while maintaining accuracy. This allows businesses to focus on strategic projects rather than routine accounting tasks. Automated bank reconciliation matches transactions with accounting records in real time through direct bank feed integration. Xero learns from previous entries to categorize transactions automatically and flags potential discrepancies for review.

Xero’s extensible platform grows alongside your business through third-party integrations and customizable features. The software adapts to increasing transaction volumes and complex business requirements while maintaining performance. Real-time analytics and reporting provide actionable insights for informed business expansion decisions. Toronto — February 6, 2025 —Xero, the global small business platform, today released its quarterly Xero Small Business Insights (XSBI) data for Canada. XSBI provides a snapshot of the health of the small business sector measured across sales performance, late payments and time-to-be-paid. For established businesses requiring comprehensive features, the Established plan is priced at $4 USD per month (regularly $80), which is a substantial savings of $456 over 6 months.

In the three months to September 2024, all three provinces experienced a year-over-year decline in sales. Notably, British Columbia recorded the weakest sales performance (-5.0% y/y), while Alberta had the smallest fall (-2.6% y/y). The use of Brex’s platform is subject to eligibility requirements and terms of service, learn more at Brex.com/legal. Service-specific terms apply, including but not limited to our Brex Card Program Terms, Rewards Terms and Travel Terms.

How does Xero accounting software work?

If you’re a payroll admin, it’s now easier for you to access historic real-time information (RTI) submissions for reverted and deleted pay runs, giving you better transparency and ability to self-serve. You can download your historic RTI  submissions from the RTI filings table in payroll. You’re now able to download sales order PDFs in Xero Inventory Plus to use for a variety of purposes.