Each month I will be bringing you updates with what’s new on Xero. These tips & tricks can be used to make your accounting and bookkeeping even easier. This month we will look at the new GST codes, the change of buttons in the Bank Reconciliation and the new User Roles.
GST Codes
The New GST Codes have been implemented to make preparing your BAS easier. The No GST and GST Exempt codes have been removed, and many new codes added. Tax codes now include:
• GST on Income
• GST Free Income
• GST Free Exports
• GST on Expenses
• GST Free Expenses
• BAS Excluded
• GST on Capital
• GST Free Capital
• Input Taxed
Bank Reconciliation buttons
To assist all that have ever struggled with the decision of whether to “Delete” or “Unreconcile” a bank transaction, Xero have now replaced these two buttons with one button – “Remove and Redo”. This button will do as it says, remove the transaction created from reconciling a statement line and make the unreconciled statement line available for reconciliation again in the Reconcile tab of your Bank Account. The “Mark as Reconciled” button has also been removed. If you used to use this button and now do not know what to do please don’t hesitate to contact your HTA Xero Guru to assist you in this process.
User Roles
New User Roles have been added to provide you with further control over what your Xero users can and can’t do. You can now provided Standard Users with Cash Coding so your staff can quickly put lots of transactions in Xero without seeing bank balances and other sensitive information. And for Invoice Only, you can now choose whether Users can only access Bills and/or Sales only invoicing. This means they can raise a bill without having the ability to raise a sales invoice or vice versa. For further detail in regards to new updates, refer to the Xero Help Centre Recent Update.
