Looking to get on top of your small business finances? Then you may be interested in these new features from Xero.
Xero has announced a swathe of new small business accounting features, including an easier way to manage car expenses, estimate and quote jobs, and understand the “health” of your business.
The car expenses feature automatically calculates fuel and mileage expenses and reimburses staff. It uses new automation features in Xero Expenses, and is designed to help users avoid accumulating a big pile of fuel receipts, according to a Xero announcement.
Users can input the distance travelled into the Xero Expenses app or on the web, and the system calculates the value of the claim based on the rate per kilometre offered by their employer.
It’s also now possible to estimate, quote and track jobs in Xero Projects. And you can create estimates based on likely hours required to complete work and any expected expenses.
You can use Xero to send those calculations as professional quotes to your customers, and then track the time and expenses for the work and tie all this information to the quote. Xero's sales pitch is that this will help users quote more accurately and quickly, which could help them win work.
Xero also announced it is working on a “Business Snapshot” feature that it will pilot early next year. The feature will provide a “high-level view” of important metrics and trends using “beautiful visualisations”.
And it's working on a way to help users avoid accidentally emailing invoices to the wrong person.