Xerocon San Francisco

Xerocon San Francisco

What's happening in the Xero space? Here is what we uncovered during Xerocon San Francisco.

Have you noticed that your Xero has gone offline for an hour or two in the last couple of weeks? This is because Xero is moving to a new platform, one that will allow them to develop further the technology that they include within their software.

Such developments as, machine learning (the ability for Xero to nearly completely reconcile your transactions, without your input), predictions on data entry side of the accounting, removal of account codes for some transactions and a Facebook integration with Xero! 

While we are yet to receive the specifics of these new developments, they were announced to be out within the next 12 months, although I expect much sooner based on Xero's previous history with their developments.

The other benefits of moving to this platform are increased stability, speed and security. An improvement on three important aspects of Xero's existing platform. Xero is the first of all of its competitors to move to this AWS platform, the potential of this new platform is exponential, we cannot wait to see what the future holds in both the Accounting world and further.

Xero Touch - the mobile app.

Most of you will be aware of the existing mobile application for Xero. This will be updated to make the invoicing much easier, and will include some of the machine learning technology, mentioned above.

This will make the already quick invoicing process much quicker!

If you use a Samsung Galaxy or other Android device, you will now have the option of contacting your adviser (Us!) directly from the mobile application. If you have an iPhone, no need to fear, Xero promise that this feature is just around the corner.

A long-time coming...

Another new announcement at Xerocon SF is the ability to create "bank transfer rules". This will mean that you don't need to select transfer the corresponding bank account to perform a "transfer" within Xero.

This is a very welcome feature, and we will certainly be making sure that our clients have these set up where appropriate.

Xero's developing ecosystem

There have been some more specific Xero "add-on" developments and pipeline developments coming up soon. Should you be on a Xero add-on such as Cin7, Dear Inventory, Receipt Bank, Deputy or Vend, we suggest that you get in contact as there may be something in the pipeline that will further enhance the benefit of being on the cloud software.

Should you only be using Xero, we also suggest that you get in contact with the office, as there are many cost effective Xero add-ons that make running a business just that little bit easier.

There were also very many new add-ons entering the ecosystem, so while there may not have been a perfect solution for you six months ago, an innovative tech company may have solved this for you! We spent considerable time at Xerocon interviewing all of the existing add-ons as well as he new players in the market. We were pleasantly surprised by all of the new entrants, most of which will be making their Australian ecosystem debut at Xerocon South, next month.

Just in case you missed it before:

Xero has finally released their new reporting engine, allowing for further customisation and a Rubix cube of opportunity. Key changes include new template layout, creation of schedules and custom reports, including custom templates. Should you wish to further develop your understanding of the new reports, or have us guide you in creating reports for your business, we suggest that you give us a call, so we can help you get the most out of your Xero subscription.

Other handy recent features include the inclusion of the wages and PAYG amounts in  BAS without having to run a separate report and input these figures manually. You will need to select a tick box on all of those wages line items, so if your BAS isn't pre-filling, make sure you check your payroll settings for each one of your pay items.

A fun fact for you to finish up this summary. To hit home how quickly technology is adapting, currently in China, it's possible (and is done regularly) to "print" an entire house including all furnishings (including the forks and mugs!) in as few as 8 hours!

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Join us for our first Mornington Peninsula retailers breakfast and learn how you can not only survive but thrive in an Amazonian retail environment.

There's been a lot of talk recently about the threat of giants like Amazon on bricks & mortar stores. But it doesn't have to be all bad.

Presented by Craig Bass from VendHQ and Shannon Smit & Nadia Hughes, Directors of SMART Business Solutions, here's a taste of what we'll be covering and why you need to get on board the Amazon Express

What you'll get from attending this session

*Using Amazon for your gain
*How to compete with Amazon by not competing with them
*How to use technology to win
*Breakfast

Who Should attend?

*Retail owners and managers
*Business that engage with and service retailers

When: Wednesday 6th September
Time: Arrive from 7 am for a 7.30am  kick off  - finish by 8.30am
Location: Benito's Restaurant, 1196 Nepean Highway, Mornington

FIRST 25 REGISTERED RECEIVE COMPLIMENTARY TICKETS! otherwise tickets are $25 per head but include a wonderful hot breakfast

A healthy cash flow is vital to keeping your business operating optimally. Should a large percentage of your customer's delay, their payments or – in the worst-case scenario – refuse to pay you, your business could be placed in a very difficult position.

Building wealth is not a product, it is a strategy

An event not to be missed:

The 3 Key topics of discussion will be:

1. Australia : As funny as it sounds, is a hidden tax haven

2. There is only one reason you should pay tax - to avoid paying more tax!

3. Recent increased tax exemptions that benefit small to medium businesses