As usual, Xero have released a number of updates over the last 90 days. Changes this quarter include the ability to create a basic packing slip in Xero, various changes to reports, the ability to create a default due date for invoices in Hubdoc and the introduction of the Xero App Store.
The biggest update of the quarter however is the introduction of Xero Analytics Plus (XAPlus). You may have seen the Business Snapshot and Short Term Cash Flow dashboards under the Business tab in Xero. XAPlus is the next step for these reports. While the basic appearance of these dashboards are similar, the functionality has been increased.
The Short Term Cash Flow dashboard has the ability to predict your business cash flow for up to 90 days in the future. A useful graph is displayed to visually represent your cash flow over the selected period and you can easily view the detailed predictions Xero has made. It uses artificial intelligence to predict your sales and expenses over the selected future period. You then have the option to accept or decline a prediction and add manual predictions. This functionality solves one of the major shortfalls of the standard Short Term Cash Flow dashboard as it was not able to predict wages or tax payments which are two items that can make a huge difference to a cash flow!
The Business Snapshot dashboard has also had a revamp in the XAPlus version. The report will show you a series of infographics about your business financials. You can run the report for a completely customisable date range, adjust what data you want to see on the Dashboard and even remove or add data from calculations and graphs. We see this Dashboard as having huge potential when wanting a visual snapshot of your business financials without being overwhelmed by numbers. It could also be helpful when reporting to a Board or Advisory Committee.
Xero Analytics Plus is completely free until 31st January 2022, afterwhich you will incur a fee of $10/month + GST for access to these reports. Get in touch with us to activate Xero Analytics Plus!
