Xero has added inventory and other major new features to the latest release of its cloud accounting software.
This week's Xero update delivers simple inventory management and online quotes.
While advanced inventory management has been - and still is - available to Xero users via add-ons, there have been long-standing requests from users for the addition of at least basic inventory functionality to the core Xero product.
Xero's inventory function provides real-time tracking of quantity and value, and makes it easier to add items to quotes or invoices.
While Xero added integrated quoting earlier this year, the new release includes the ability to produce online quotes that are viewed within the Xero web site. This parallels Xero's online invoice facility.
Bank feeds are an increasingly popular way of reducing the data entry load on small businesses, and Xero now supports an additional 1692 bank feeds, although the company did not mention how many of them are from Australian institutions.
Xero Files has also been enhanced. This feature allows user to store digital or scanned documents such as receipts within the system and linked to related transactions. What's new is that such documents can now be viewed while the transaction is being entered or completed.
For accountants, the new practice reports feature allows accountants to develop customised report formats that can be populated with clients' data in real time.
"With Xero delivering inventory most businesses in the world now will be more productive with cloud software," said Rod Drury, CEO, Xero. "Today we've not only matched most of the features of traditional desktop software, but taken it beyond in terms of ease-of-use, mobility, value and performance."
Most of the new features are available now at no extra charge. The exception is practice reports, which will arrive "shortly" in Australia. Xero subscriptions start at $25 per month.