In
By Oliver Prillto make it easier for small busi ness owners to access this vital resource. We know that getting credit is even more important to our members in these challeng ing times: not just in terms of the rising cost of doing business, but also when high street banks are typically slower to offer smaller businesses loans. The SME fund ing gap in the UK alone is esti mated to be £56 billion.
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eral
As Planday completes its recruitment pro cess for the CEO role, Chris O’Neill, Xero’s Chief Growth Officer, will oversee the Plan day business. Christian’s final day at Planday will be on 31 December 2022.
Since 2011, Christian has led Planday through important stages of its internation al growth to become one of Europe’s lead ing scheduling and workforce management solutions supporting more than 400,000 employee users, through to its acquisition by Xero in April 2021. He has built a strong team who since the acquisition have achieved a number of milestones including establish ing operations in Melbourne, Australia - led by Planday co-founder and Executive Gen
In September 2022, this
launched Planday's first public beta for Aus tralian customers ahead of plans to launch to the market in early calendar year 2023.
Christian has also supported Planday’s UK business in product integration activities to further payroll and Time, Attendance & Scheduling functionality in that market.
Today, Planday operates in Denmark, Nor way, Sweden, the UK, Germany, Australia and the US.
Planday aligns with Xero’s strategic prior ity to grow the small business platform, and collectively support more small businesses around the world. Xero estimates Planday has a Total Addressable Market of 100 mil lion employee users. Xero is committed to helping make employment management...
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customer and company outcomes. She will work closely with the existing EMEA team as well as global leadership to optimise the company’s positive impact in EMEA.
Miranda Kendall today joins Spotlight Re porting as Director EMEA. This role was spe cifically created to help meet the growing demand for Spotlight Reporting’s account ing and financial services software solutions in EMEA.
In this role, Miranda will be prioritising UK & South African growth, market share,
With a robust career spanning more than 20 years, Miranda brings extensive eco-sys tem experience from her previous roles as Managing Director UK for Karbon and Sales Director UK for Unleashed. Miranda also spent a number of years with Trustpilot in Australia as Sales Director APAC and Direc tor APAC.
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SPOTLIGHT REPORTING IS CONTIN UING ITS EXPANSION IN THE U.K., IRELAND AND SOUTH AFRICA WITH A NEW ADDITION TO THE COMPANY’S LEADERSHIP TEAM.
W
XU BIWEEKLY - No. 44
Newsdesk: If you have any news or updates that you would like us to consider for inclusion in the next edition of the XU Biweekly, please email us at: newsdesk@xumagazine.com
New Budget Toggle
Custom FX Rates –more base currencies
This makes it easier to con figure your FX rates as you’re no longer restricted to using USD as the base currency. Simply go to the Reporting Configuration page to select your base currency.Repeating Report Period Headers
Multi Currency Plans
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new reports
We’ll now remind you to save your custom report before you navigate away from it, so your changes aren’t lost
You can now add a Cash Summary report and Executive Summary to re port templates in Xero HQ
When you select the figures in the ‘This month’ column on your accounts watchlist on the Xero dashboard...
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OAdvertising: advertising@xumagazine.com www.xumagazine.com
‘Xero’ is a trademark of Xero Limited (New Zealand). XU Biweekly and XU Magazine is collaboratively produced by an independent group of Xero users and is not affiliated in any way with Xero. All other trademarks are the property of their respective owners.
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Dext has always strived to deliver a suite of book keeping efficiency tools that allows accountants and bookkeepers to man age the demands of mod ern-day accounting. Now, as we approach a land mark moment in HMRC legislation, Dext is deter mined to continue that promise by supporting firms (and their clients) with a best-in-class prod uct for MTD ITSA.
From 5 December, Dext’s MTD ITSA solution will be available to all ex isting Dext Prepare cus tomers in the Dext prod uct. Those that aren’t a Dext Prepare customer can register their interest for the full release in ear ly 2023, by clicking here. The functionality builds on the same award-winning accuracy, extraction and categorisation customers
N DECEMBER 5 2022, THE FIRST RELEASE WILL BE AVAILABLE TO EXISTING DEXT PREPARE CUSTOM ERS AS PART OF THE DEXT PREPARE PROD UCT. IN EARLY 2023, WE WILL MAKE THE MTD ITSA SOLUTION AVAILA BLE TO THE WIDER MAR KET. DEXT’S SOLUTION WILL INCLUDE THE OP TION TO SUBMIT DIRECT LY TO HMRC ON BEHALF OF SELF-EMPLOYED AND LANDLORD CLIENTS.already know and trust Dext to deliver.
Details on Dext Pre pare for MTD ITSA:
• A robust tool that builds on Dext Prepare’s award-winning func tionality: Building on the same accurate extrac tion and categorisation tools, accountants and bookkeepers can trust Dext to provide a solu tion that works for cli ents of all shapes and sizes
• Flexible functionalities that fit your current way of working: Dext’s solu tion slots seamlessly into the systems firms and their clients already use allowing them to meet new obligations without having to make wholesale changes
• End-to-end function ality: From extraction and categorisation, to review and HMRC up dates, Dext is your first and last touch point for all things MTD ITSA
• Support and user expe rience: Dext provides world class user-experi ence for firms and their clients, with hands-on onboarding and ongo ing training and support
Technical features
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HAS INTRODUCED MUL TI-FACTOR AUTHENTICATION (MFA) TO ADD EXTRA SECURITY TO HELP KEEP YOUR DATA SECURE.
Mandate MFA for your Avaza Account
•
Require Multi-Factor Authentication for Team Members
Require Multi-Factor
ANNOUNCING
As of today, WorkGuru will be offered in two editions, WorkGuru, and WorkGuru+ with WorkGuru+ being the full-featured platform that everyone has had until now, and WorkGuru being for those clients who don't want or need to track inventory.
By providing customers with the option to choose the level of complexity, WorkGuru becomes an option for more of our Archi tecture, Engineering, Consulting and Profes sional Services clients, who want the power of our job maangement - but who would never use the inventory module. The base product still has all of the best-in-class fea tures that WorkGuru+ does when it comes to managing your Quotes, Projects, Pur chasing, Invoicing and Timesheets, as well We've been asked for a while now to make this a reality, and it was one of the big take aways from Xerocon, that for those custom ers without inventory needs, the price point made WorkGuru a stretch. By reducing the complexity of the standard WorkGuru offer ing, we're able to drastically reduce the price point for our less complex customers, and... Keep reading
AU - Brevity empowers community care organisations, providing a single system for planning, resourcing, ser vice delivery and billing. Improve busi ness by bring people, processes and technology together.
GLOBAL - An integration applica tion with over 850+ integrations. Make integrated automations to sycn your data between numerous systems, in cluding CRM, sales, marketing, and communications.
By Cam Anderson
IN EARLY NOVEMBER WE RELEASED OUR THIRD GENERATION ACCOUNT TREES AND WE’VE HAD VERY POSITIVE RESPONSE TO THE ADDITIONAL FLEXI BILITY. BUT WAIT, THERE’S MORE! NEW IN CALXA NEXT WEEK WE’LL GO ONE BET TER AND GIVE YOU THE ABILITY TO ADD KPIS TO YOUR ACCOUNT TREES.
This upcoming release will also include a couple of much-requested report templates:
1. Profit & Loss with Prior Period
2. And, one with 2 prior periods.
KPIs Inserted as Rows will be New in Calxa
KPIs are important additions to your man agement reporting and embedding them within your reports will give them valuable context.
• Show Income, Cost of Sales and then Gross Profit. Follow that with the Gross Profit percentage and you immediately provide better information to your audi ence.
• Do your non-accountant board members struggle with the Balance Sheet reports? Insert some ratios to show working...
IT’S BEEN A BIG YEAR FOR REPORTING AT XERO. WE RELEASED A STACK OF EXCITING NEW FEATURES, INTRO DUCED SOME BRAND NEW REPORTS, AND AN NOUNCED THAT WE’RE RETIRING THE OLDER VERSIONS OF REPORTS ON 31 JULY 2023.
As the deadline to switch gets closer, it’s a good time to reflect on what we’ve delivered this year and give you a sneak peek at what’s coming next.
If you haven’t made the
switch to new reports, we urge you to start moving your work across now, so you have plenty of time to get used to them before the older versions are retired.
This year, we’ve been able to deliver an average of three new features a month — a pace unheard of a cou ple of years ago, when we had yet to start the latest upgrade of our technology.
When prioritising work, we listened carefully to
longstanding feature requests, votes in Xero Product Ideas and sug gestions from our partner communities. Some of the highlights include:
• new features like the ability to add notes, switch to compact view, and enjoy sticky horizontal and vertical headers as you scroll
• beautiful visualisations, including charts in Top Customers and Top Vendors reports, and variance columns with red and green arrows...
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By Alex HoffmanWE'VE BEEN EXPANDING OUR AU DIT OFFERING EVER SINCE WE LAUNCHED IT AND OUR LATEST INTRODUCTION IS SUSPENSE ACCOUNTS.
The suspense account is one area where our Head of Education and Training, Jodilee, saw fraud back when she worked as an audi tor. It's a critical part of your books to keep tabs on both in terms to preventing or de tecting fraud and ensuring that your records are correct.
But what exactly is a suspense account? And how can the new suspense account function on Syft help you prevent error or fraud in your own business? Let's unpack this.
You know when you receive money and you're not entirely sure where it came from? When this happens in a business, an account is created in which items are entered tem porarily before the money is allocated to the correct or final account. Sometimes, only the debit side of an entry is known and the...
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T LIGHTYEAR, WE UNDERSTAND THAT SOMETIMES IT'S ALL IN THE DETAILS. SO WE'VE FOCUSED
By Abhisha NirmalathasTHIS BLOG IS A QUICK GUIDE TO SETTING UP SIGN UP WITH XERO USING .NET — ALL XERO CERTIFIED APPLI CATIONS NOW REQUIRE USERS TO BE ABLE TO USE THE SIGN UP WITH XERO FEATURE.
All of our MYOB & QuickBooks Online cus tomers have been upgraded onto the new API platform. This provides a deeper inte gration by bringing back more details and makes the set-up process easier for growing businesses that need new accounts.
• We'll sync more accounting settings (GL codes, bank details, etc) into Lightyear
• Auto publish - meaning zero touch exports
• Send document files as attachments along with exported data
• Automatic rounding rows for instances where rounding variances would have...
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This means, users don’t need a separate registration to use an app on the Xero App Store. They simply log in with their Xero creden tials, and a new account within the app is provisioned automatically.
Adding Sign Up with Xero into apps has caused some confusion amongst the de veloper community histori cally. Today, we’re going to walk you through two brand new sample apps that we’ve developed to help guide you through this process. Both apps make use of the rec
ommended flow for Sign Up with Xero — where the app automatically provisions an account after the standard OAuth 2.0 flow is complet ed, rather than populating a registration form to cre ate a new account with Xero (which is the modified flow, for more info check this Youtube video out where it mentions Project 2).
If you’re hearing about Sign Up with Xero for the first time, check out our docs which explain how it works and the different flows.
To follow along, make sure you clone the relevant repo from Github or check out our explainer here.
The recommended flow for Sign Up with Xero can be implemented in two ways, and it’s important to under
stand how these both work to identify which method is most appropriate for you.
When an app is trying to sign up a new user using their Xero account, the Xero identity provider requires details to authenticate and authorise access to the cor rect organisation with the appropriate permissions (or scopes).
First, the identity serv er needs to know the app ID to identify which app to connect to. The scopes also are required to determine what actions the application can perform. At a minimum, the OpenID Connect scopes (openid, profile, email) are required — these ensure that details of the user are re turned once authenticated. Sometimes it might be pre ferred to know the user's... Find out more
WE’RE SAD TO ANNOUNCE THAT CON NECT4 WILL PERMA NENTLY CEASE TO OP ERATE FROM THE 23RD DECEMBER 2022. IT’S NOT A DECISION THAT HAS BEEN TAKEN LIGHT LY, BUT ULTIMATELY, THE BUSINESS IS NO LONGER SUSTAINABLE.
We want to take this opportunity to say a big thank you to everyone who has supported us over the
past three years; custom ers, investors, partners and so many others across the accounting sphere. Build ing software is challeng ing. But it’s been a real joy to work so closely with so many members of the ac counting and investment communities and to watch Connect4 actually improve people’s working life.
OVER RECENT MONTHS, WE’VE BEEN KEEPING YOU UPDATED ON XERO’S SINGLE TOUCH PAYROLL PHASE 2 ROLL OUT.
This will see your business build on its existing STP re porting to share more in formation with the ATO and other government agencies whenever you process a pay run. And now, we’re pleased to announce that all three stages of the roll out are available, meaning you can
get your payroll data STP Phase 2 ready today.
Not sure where to start? Don’t worry – we’ve com piled all the information you need below. What’s more, your advisor is always there for support, so be sure to reach out if you need further guidance.
Xero’s STP Phase 2 report ing deferral is through to 31 March 2023, meaning Xero Payroll customers will have until the New Year to...
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WE’RE
WE’RE DELIGHTED TO ANNOUNCE THAT SOLDO IS ONE OF DELOITTE’S FAST 50™ WINNERS FOR 2022. THIS IS THE SECOND YEAR IN A ROW WE’VE BEEN RECOGNISED AND WE’RE PLEASED TO BE PLACED 35TH, JOINING OTHER MARKET-LEADING BUSI NESSES LIKE MULTIVERSE, MONEYBOX AND CERA.
Highlighting the fast est-growing tech compa nies, Deloitte’s Fast 50™ is one of the UK’s foremost
technology awards. Now in its twenty-sixth year, the awards are ranked by reve nue growth over the last four years.
As businesses across the UK and Europe continue to face rising prices and interest rates, we’re work ing hard to help them get visibility and control over their spending. Our team of dedicated, brilliant people worked seamlessly through the COVID pandemic and are continuing to perform...
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By Alex von Schirmeisteraction on net-zero. But for smaller businesses, it can be difficult to know where to start.
We spoke to Jan Ko recky, co-founder of Dat amolino, about their story and how they make lives easier for business owners and their accountants.
It’s a familiar but impor tant tale – problem solvers seeing certain behaviours and asking themselves, “how can we do it bet ter?”. Datamolino got its start when Jan and fellow co-founder Andrej Gle zl noticed the amount of manual and repetitive ad min tasks that accountants and bookkeepers perform day-to-day.
“We figured there must be an easier, more...
It’s more important than ever for the business com munity to play its part in protecting our planet. During the recently con cluded COP27, there was an increased call during the summit for stronger
Ecologi’s app will give thousands of ser vice-based small busi nesses the opportunity to access Ecologi Zero, a simple-to-use and accu rate carbon accounting platform for free – allow ing them to measure their emissions. This will help to make carbon tracking and climate action more ac cessible for smaller busi nesses. Read more
Through this initiative, customers could speak with a company representative directly via the company website without making phone calls. Because it was widely believed to be exces sive and expensive, it took a while to catch on with busi nesses. Still, customers were more used to calling or visit ing the business to get their questions handled.
Our dependence on screen-based forms of communication like email and text messaging has in creased as technology has
advanced. Live chat servic es gained in popularity and use as more people started using immediate text mes saging.
Due to the sudden out break of the coronavirus disease (COVID-19), govern ments of various countries have imposed complete lockdowns. Consequent ly, businesses that sell their products through offline dis tribution channels have been closed temporarily. This, in turn, has increased the sales of food items and different products on e-commerce channels and escalated the demand for live chat soft ware to provide 24X7 cus tomer support and... Keep reading
WE’RE EXCIT ED TO WEL COME BRIS TOL-BASED CLIMATE TECH START-UP, ECOLO GI, TO THE XERO APP STORE TO SUPPORT SERVICE-BASED SMALL BUSINESSES IN THE UK TO TRACK AND REDUCE THEIR IMPACT ON THE ENVIRONMENT.
All three stages of Xero’s STP Phase 2 roll out are now available – it’s time to make the transitionLIVE CHAT SERVICES ENTERED THE BUSI NESS REALM IN 2002 WITH THE LAUNCH OF LIVE CHAT.
IT WAS AWESOME TO BRING TOGETHER 26 SMALL BUSINESS OWN ERS, ADVISORS AND APP PARTNERS FROM ACROSS AUSTRALIA TO ACKNOWLEDGE THEIR OUTSTANDING CONTRI BUTIONS TO THEIR LO CAL COMMUNITIES AND THE WIDER WORLD OF BUSINESS.
So what did the win ning experience involve?
In an exclusive two-day event hosted at Xero’s Mel bourne HQ, the group had the chance to learn from industry professionals, network with like-minded entrepreneurs, and fine dine at one of Melbourne’s most iconic restaurants. Below, we’ve covered all the highlights of what was undoubtedly a memorable celebration.
Throughout years of running the Xero Awards program, we’ve learned our winners often share one thing in common – a desire to stay at the top of their game. This is why
the awards experience was all about equipping our champions with the tools they need to level up their professional and personal development. Here’s are some standouts from the sessions:
Fiona Killackey:
Fiona Killackey – a.k.a. the founder of the high ly successful consultancy company My Daily Busi ness Coach – stopped by to share trade secrets on the art of personal brand ing. Through an interactive workshop, Fiona covered everything from how our beliefs and values inform the way we show up at work, to the emotional drivers behind every suc cessful marketing cam paign.
This was super valuable for some of our award win ners, like Christina Guthrie of The Guthrie Collective – a disability support busi ness focused on age ap propriate social experienc es and Xero’s FY23 Sole Trader of the Year. “I loved Fiona’s session. My busi ness is literally centred on people, so bringing it back to what matters most – our teams and clients – was re ally fantastic,” she says.
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IT WAS AN ABSOLUTE PRIVILEGE TO SPEAK AT MY VERY FIRST XERO SINGAPORE ROADSHOW LAST WEEK – OUR FIRST MAJOR IN-PERSON EVENT IN NEARLY THREE YEARS. WHAT AN INCREDIBLE DAY IT WAS, MEETING THE MORE THAN 750 AC COUNTANTS AND BOOK KEEPERS WHO SHOWED UP TO ENGAGE WITH THE COMMUNITY, SHARE THEIR KNOWLEDGE AND EXPER TISE. AN EXTRA SPECIAL THANK YOU TO ALL THOSE WHO TRAVELLED FROM HONG KONG, MALAYSIA, THE PHILIPPINES, INDONE SIA AND ELSEWHERE IN THE REGION TO ATTEND.
The theme of this year’s event, One Step Ahead, fo cused on discussions around competitiveness and guid ance for partners on getting ahead in today’s challenging climate. Featuring indus try leaders and Xero’s own experts, we covered plat form tech trends, employer branding and talent reten tion, as well as the critical nature of human expertise to maximise the value of digitalisation.
As we continue to face significant volatility and un certainty in our macro en vironment, these areas will remain top of mind for our customers and clients. It is clear that practices and SMEs alike are looking to remain competitive in this tough post pandemic busi ness climate.
At Xero, we are committed to helping SMEs and their advisors grow and thrive. We also know that digital transformation is key to this.
We break down this journey into three distinct waves, which I spoke about in my keynote.
While many Singapore an accountants and book keepers have already begun riding this wave with their clients, some have yet to take this first step. However, thanks to grants and initia tives facilitated by IMDA and Enterprise Singapore, we see that Singaporean SMEs lead their counterparts around the world in tech adoption.
We welcomed 17 app part ners as exhibitors this year, demonstrating the power of our ecosystem in helping clients digitise other impor tant jobs outside of core ac counting. From time sched uling and attendance, POS systems, inventory manage ment, payroll or facilitating access to capital, tapping into the wider digital eco system is critical to stream lining the business.
Xero’s platform offers seamless connectivity to over 1,000 business solu tions that enable SMEs and their advisors to harness critical data, along with ac tionable insights to help themselves and their clients plan for the future, or even just nail what they need to day.
In case you missed it...
THE WORLD OF AC COUNTING IS PIV OTING WITH IN CREASING GOVERNMENT REQUIREMENTS AND EVOLVING CLIENT NEEDS.
IF YOU DON’T MANAGE CHANGE IN THE COMING YEARS, CHANGE COULD MANAGE YOU—LEADING TO A CAREER FOREVER ON THE TREADMILL. TAKE CONTROL NOW AND EN SURE THE COMING YEARS ARE EVERYTHING YOU WANT THEM TO BE.
The pandemic showed how accountants are the true superheroes of the business world.
Yes, there was significant extra work. But a door was opened. As accountants performed tasks like helping clients prepare reporting to access government assis tance, clients were educated about a closer relationship with an advisor they could trust.
Similarly, Making Tax Dig ital in the UK has indicated that client relationships can evolve as accountants focus more on additional service offerings, such as periodic financial check-ups, and less on basic compliance now that the government de
mands technology do much of that work.
All of this is becoming the norm, rather than the excep tion.
In the very near future, more and more taxes will be digitalised—everything from income tax to corpo ration tax. Simultaneously, governments worldwide are increasing business regula tion.
that’s right for everybody. But it’s wise to jump off the treadmill for just a few min utes and plan your route. The focus should be less about the specific and unique challenges. Instead, look at the ways you can navigate through the challenges in a way that will create a future perfect for you.
Scaling up, scaling down, specialising or more rad
As the philosopher Alan Watts said, the only way to make sense out of change is to plunge into it, move with it, and join the dance.
For accountants, this means scaling their practice to exploit challenges in the coming years.
But while basic growth is simple—do more of what
decade, resulting in an in evitable fight to the bottom when it comes to pricing and profit. Nowadays a high street accountant competes with online services.
Providing more of the same is unlikely to be effec tive. Instead, fresh service offerings and increasing your practice’s understand ing of client needs must be central to any plans to scale.
clients being able to cope with the increased demands of at least quarterly reports for each trade and landlord income, plus discrete end of period statements (EOPS).
And that’s before we discuss the requirements for digital record keeping and digital linking.
Clients that scribble down income and expenses as they occur, then hand this over to their accountant each January along with a bag full of receipts, are in for a huge shock.
But some accountan cy practices are seizing the chance to manage this change and in doing so, they illustrate perfectly the mind set needed for practices looking to scale.
You need to choose how you and your practice will fit into this new world.
The issues are the same as they ever have been: ensur ing you’re relevant to clients, pricing services optimally, remaining profitable, and so forth, all while being guided by your values.
There isn’t a single path
ical options—all must be explored, and a destination selected.
And that’s perhaps the most important point. All journeys start with a single step. But less often men tioned is that all successful journeys start by choosing the best destination for you.
you’re already doing—ac countancy practices have opportunities to instead evolve what they do, driven by aforementioned increas ing government require ments and changing client demands.
After all, basic account ing services have become commoditised over the last
For example, Making Tax Digital for Income Tax Self Assessment (MTD ITSA) ar rives in the 2024/25 tax year, with the expectation that many businesses will signup to the pilot programme ahead of time as of the 2023/24 tax year.
There remains indus try-wide incredulity about
MTD ITSA’s quarterly re porting requirement in par ticular means some business owners and managers will need to have much more contact with their account ing.
Because of the obvious re luctance of those clients to do so, some accountancy...
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Clay Sandoz, the founder and owner of Wellstead Solutions described his experience with G-Accon and proved that this add-on is a game-changing tool for any business.
By Andrey Kustarnikov, G-AcconOur app excels in integrating Google Sheets with various cloud accounting plat forms. With G-Accon, you can automatically export, import, email, and refresh your data and reports. You can pull data from apps like Xero, Quickbooks, and Freshbooks; make needed changes; and send the data back to your accounting software. You can also use a variety of pre-existing flexible templates to make 50+ reports including things like Ac count Transactions, Purchase Orders, Profit and Loss, Income Statement, Balance Sheet, and more.
From how we’ve described it, G-Accon might sound like the perfect glue that can hold your business’ data together. However, it can be more difficult to actually visualize how G-Accon would be used in your day-today operations. That is why we’ve started this new interview series!
We firmly believe that there is a whole story behind each individual client and busi ness. In this series, we aim to explore these stories and show how G-Accon is used to day by real, thriving companies. This will allow you to reflect on your own business and think about how you could use G-Ac con to streamline your operations. For this
particular magazine issue, we had the dis tinct pleasure of talking to Clay Sandoz, the founder and owner of Wellstead Solutions.
Wellstead Solutions is the product of Clay looking at the market, seeing a gap, and fill ing it himself. Wellstead Solutions is essen tially a consultant company for people who want to create their own non-profit foun dations. Clay saw people and businesses in the market who wanted to make the world a better place but lacked the logistical sup port. This is where Clay stepped in with his skillset. Now, he helps these new nonprofits with logistics by creating structure and es tablishing processes so that the businesses can focus less on operations and more on doing good.
“G-Accon has been crucial in allowing me to reduce my time doing something a com puter can do, greatly reducing error (no copy/paste or manual entry) - all of which has allowed me to scale my business”.
Behind the scenes, mid-sized nonprofits require full-service financial operations, in cluding donation processing, bookkeeping, accounts payable, expense reimbursements, payroll, and more. One of the biggest fac tors that has to be handled is processing all things donation related. This means process ing physical checks, overseeing online... Find out more
UNDERSTANDING THE OVERALL HEALTH AND FINANCIAL STATUS OF ANY BUSINESS CAN BE DIFFICULT WITH OUT THE RIGHT INSIGHTS AND REPORTS. FOR YOUR TRADE CLIENTS, DAY-TODAY TASKS INVOLVED IN RUNNING SERVICE, PRO JECT AND MAINTENANCE WORK OFTEN KEEP THEM BUSY, SO THEY RARELY HAVE TIME TO LOOK AT DATA. BUT BY NOT PAY ING ATTENTION TO DATA WITHIN THEIR BUSINESS, THEY ARE MISSING AN OP PORTUNITY FOR GROWTH.
Consistently dedicating time to review and man age business data enables your trade clients to identify workflow blockages, eradi cate outdated information, pinpoint discrepancies in revenue and much more. As their expert advisor you can be the driving force behind this change, encouraging them to run these reports as part of their regular data analysis processes.
Whether you have clients already using simPRO, or you’re new to the software, we’ve put together the top five reports that are availa ble in simPRO to help your trade clients take their busi ness to the next level.
This report helps moni tor materials and supplier costs, and helps identify when your clients may need to switch suppliers to get a better price for them and their customers.
Trades clients can review individual items on supplier invoices, such as price dis crepancies, applied credits and updated pricing.
Stocktake is a time-con suming task for many busi nesses. Controlling the amount, location and type of inventory is a huge job in itself, then add to it the need to regularly account for the value of materials and you’ve got a big (and frequent!) headache for the business.
The Stock Value Report helps track the value of in ventory throughout the year. It displays an overview of the value of stock across all of your storage devices - in cluding separate warehous es, work vehicles, and site locations.
Trade clients can also use the extended Report View to see the quantity and value of stock items according to
part number.
Not every job progresses in a straight line from start to finish, especially right now, where there are fre quent fluctuations in mate rial costs. It’s important to be able to stay on top of job progress at every stage, as timeline disruptions cut into cash flow, especially if your trade clients don’t regularly invoice.
That is where the Job WIP Report can help. It shows trades clients which jobs are partially or not yet invoiced, which helps identify issues early on so they can manage cash flow and other jobs ac cordingly.
Profit and loss analysis helps trades businesses as sess their performance by reviewing the profit/loss sta tus of invoiced jobs.
By evaluating profit and loss per job, you can help your trades clients under stand:
• Which jobs are most prof itable
• What common factor causes a loss on similar...
IF YOU ARE A BUSINESS OWNER, G-AC CON CAN IMPROVE THE WAY YOU MAN AGE YOUR COMPANY.
You might have already noticed these changes in the app and questioned why things look a bit different. Keep read ing below to find out what’s new, what’s changed, and – if you’re wondering where some of our old features have gone – what’s coming back soon.
In the new version of our app, we’ve split the More menu into two sections: Profile Settings and Products & Servic es. We’ve listened to feedback from our members who found the old More menu to be too cluttered and tricky to navi gate, and we hope you’ll enjoy the im proved experience.
If you’re looking for: Profile, Member ships, Team Members, Login and Secu rity, Computer Access, and Business Switcher, you’ll find these in Profile Set tings. To access Profile Settings, simply tap your profile icon in the top right of the screen.
We know that, as a business owner, you’ll appreciate that the best things take time. While we work to make our new app even better, it might take us a little longer to get some of your favourite features ready:
• Adding VAT to a transaction. At the moment, you won’t be able to add VAT to a transaction from the mobile app –but you can still do this using Tide on the web
• Exporting transactions in different...
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CLEARBANK LTD., THE ENABLER OF SECURE ACCOUNTS, REAL-TIME CLEARING, AND EMBEDDED BANK ING FOR FINANCIAL INSTITUTIONS, TO DAY ANNOUNCED THAT IT HAS REACHED PROFITABILITY. CLEARBANK LTD. HAS GENERATED £45.4M IN REVENUE YTD AND FROM OCTOBER HAS REACHED MONTHLY PROFITABILITY IN THE UK.
• The Embedded Banking provider secured £45.4m revenue in YTD to October 2022, reaching monthly profitability for the UKbased bank.
• 2022 revenue growth is being driven by increased transaction volumes, new cus tomer sales, interest income, and the ramp up of its FX and multicurrency proposition.
• ClearBank has plans to expand to Europe and the US, beginning with the launch of ClearBank Europe in The Netherlands in 2023.
The fintech bank has nearly tripled its 2022 YTD revenue compared to the same period last year. And FY2021 was the second consecutive year that ClearBank’s revenue grew by over 100%. Growth has been driven primarily by growing transaction volumes, new customers, interest income, and the ramp-up of the bank’s new FX and multicur rency proposition.
ClearBank now supports over 200 finan cial institutions, including Chip, Raisin, and Recognise Bank. With 17.5m bank accounts and £3bn held in balances, ClearBank has dramatically increased in scale.
ClearBank’s continued growth has been spurred on by the permanent move towards digital payments which has been heavily in fluenced by the Covid-19 pandemic shift in how people and businesses move money. This shift has meant a greater use of contact less, online, and mobile wallet channels at the expense of cash, all driving up payment volumes. Despite increasing headwinds from wider market conditions, ClearBank antici pates continued and sustainable... Find out more
WE’RE BACK WITH ANOTHER BIG IM PROVEMENT TO SPENDING IN SIGHTS, HOT ON THE HEELS OF 36 NEW SPEND ING CATEGO RIES CREATED IN JUNE.
This time, the whole Spending Insights tab has had a refresh. Everything you already love is still there, and there’s some new features to discover too.
Just update
your app to enjoy the chang es. Take a look
Check out your spending in bar chart form, and spot trends immediately.
The graph is defaulted to show your spending for the current month. Just swipe back and forth on the graph to shuffle through previ ous months.
Tap on an in dividual bar, and
we’ll show you a total for the time period it represents.
Prefer to compare weekly spending instead? Just tap the date range and choose ‘This week’ instead. If you’ve never changed the range, it will be labelled as ‘This month’.
When you swipe back on the graph now, you’ll be scrolling through previous weeks.
You can also select ‘This year’. To see a specific peri od, such as a recent holiday, create a custom range...
WE DIDN’T THINK WE COULD MAKE SENDING AND RECEIVING MONEY EASIER, BUT HERE WE ARE. WE SPOKE TO YOU AND FOUND OUT WHAT OUR CUSTOMERS REAL LY WANTED FROM OUR FINANCIAL SUPER APP. SO, WE’VE HAD A MINI MAKEOVER!
There are a few updates to our app that make it faster, easier, fun, and less ~awkward~ to send and re quest money. Keep read ing to find out how we’ve saved you valuable sec onds...
Chat feature currently available in the UK, EEA, and US
Send with two tapsliterally
It’s easier than ever to discover features that can make sending money easy and quick.
You’ll be able to see re cent contacts, check our his torical payments to specific people, and manage group expenses all in-app, all just a tap away.
So easy, a technophobe can do it - you can even add a gif (since the kids love those). Congratulations, you’ve saved enough time to put the kettle on
Bring every awkward chat to Revolut
No need for any more awkward money requests. In our recent UK and Europe an survey of 8,000 people, found that 67.5% find it dif ficult to discuss money. So, our new Chat feature in-app aims to make talking about
cash less awkward by keeping all things finance in one place!
To start chatting, go to the ‘Transfer’ section inapp. The Chat window will open right after tapping on one of your contacts –no need to open multiple windows, apps or tabs!
Use Chat to settle up, split bills, and you’ll never have to text your old flat mate, or ex, again
• Flash your own personal QR code, because who has time to text out de tails
• Share your revtag, or search for your friends unique username - ac count numbers? We...
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MEET THE CARD THAT SPEAKS YOUR VALUES.
In the beginning there was corn. Then thousands of years later plastic came along, with all its climate-ruining chemicals and toxic waste in tow.
We know how much our customers love using Pleo when they’re out travel ling, so what’s the logical next step? Mak ing the pre-travel bits just as delightful! So we teamed up with TravelPerk to do just that.
TravelPerk is an all-in-one travel plat form that gives you and your team the world’s largest inventory of travel, instant set-up, full carbon offset, a built-in risk management solution (at no extra cost), and employee onboarding! Sounds pret ty smooth, right? Well here’s where it gets smoother…
You make a booking on TravelPerk us ing your Pleo card … and we do the rest. We fetch the receipt and make sure all the details are present and correct for bookkeeping, and we’ll set the GL code, allocated by department and cost cen tre.
That’s it. You don’t need to do a thing. No frantically searching multiple in boxes for the receipt. No approval in Pleo. No reporting (unless you want to). Certainly no being out of pocket. No manual reconciliation. Just book … and go (OK, maybe pack first).
So as a global technology fintech compa ny, we thought — what can we do to make a small contribution to the fight against the biggest threat to humanity? Our debit card is the only physical thing we produce. And, like most bank cards, it’s plastic. Not fantas tic for the environment.
Enter corn. Non-edible, biodegradable corn. You can make debit cards out of it. So we did.
Meet the Wise eco card.
But what’s in it? Not a lot.
Tandem Bank has
What does all of this mean for you? Loads of time saved and fewer manual errors! Thank you automation.
But that’s not all. This smooth-as inte gration means you can also track travel costs in real-time (spend data is synced across both platforms including cost centres and VAT codes), set individual spend limits and travel policies, and help your team stop spending out of pocket. You get full control and a complete overview of all travel spend and your team gets a world-class travel experi ence and the peace of mind that comes...
Find out more
You’ll notice the eco card is light on print ed details. Ink isn’t biodegradable, so any thing that wasn’t completely necessary to the card — your pan number, for one — was taken off.
That meant some tough choices. No green, a pared-back logo. Maybe that means it doesn’t look very “Wise”. But it was more important to us for the eco card to be as eco as possible. What’s the point otherwise?
DAVID MCCARTHY HAS BEEN APPOINT ED AS TANDEM’S CHIEF FINANCIAL OFFICER (CFO) BECOMING A MEM BER OF BOTH THE BANK’S BOARD AND EXECUTIVE COMMITTEE. DAVID JOINS TANDEM FROM ATOM BANK WHERE HE HAS BEEN CFO FOR THE PAST EIGHT YEARS, FOLLOWING PREVIOUS CFO AND SEN IOR FINANCE ROLES AT BRITANNIA BUILDING SO CIETY, CO-OP BANK AND BANK OF IRELAND.
Wahid Ali is joining Tan dem as Chief Risk Officer (CRO) from specialist lend er Masthaven and will join David as a member of Tan dem’s executive committee. Wahid has 20 years' risk management experience from across the banking sector including holding
senior positions at Barclays, RBS and Al Rayan Bank, as well as the Prudential Regu latory Authority (PRA).
The arrival of both senior executives underlines the continued momentum and growth of Tandem as one of the UK’s original digital chal lenger banks.
Tandem announced the appointment of industry stalwart Paul Pester as Chair man in June, and has recent ly confirmed that Deputy CEO Alex Mollart will shortly step up to become CEO.
Alex Mollart, Tandem Bank’s Deputy CEO, said:
“I’m thrilled to have both David and Wahid on board for the next stage of Tan dem’s journey to becom ing the UK’s greener, digital bank.
“There’s no question David and Wahid bring a wealth of knowledge, exper
tise and experience to the Tandem team as we contin ue to grow and become the go-to option for customers transitioning to a lower-car bon lifestyle.”
Drawing on Tandem’s dig ital credentials and strong customer proposition, the bank is positioning itself to be the go-to green bank, helping customers to ac cess finance and practical advice that will help them transition to a lower cost and lower-carbon lifestyle; from retrofitting their homes and reducing their emissions with electric vehicles, to sav ing money on energy with solar panels and other low carbon technologies.
Tandem recently launched a specialist green mortgage and created its ‘Tandem Marketplace’, a hub for...
An easy way for us to avoid plastic waste was to just not use plastic. Not a typical one anyway.
Bioplastic is an alternative material that you’ll find in things like biodegradable cut lery. And bioplastic can be made of sweet, non-edible corn. It was perfect for the eco...
WE’VE JOINED FORCES WITH TRAVELPERK TO BRING YOU WHAT IS PROBABLY THE SMOOTHEST END-TO-END BUSINESS TRAVEL AND EXPENSE SOLUTION THERE IS.
strengthened its executive team with the appointment of two new senior executives.