UPDATES FROM XERO

Xero News October 2021

Updates from Xero The latest in product, ecosystem, partnerships and business at Xero

What we’ve been working on... What we’ve been working on

Deep dive

Steve Vamos, CEO, Xero

Xerocon returns in 2022

ew predictions feature for bank reconciliationNThis article is After a two-year hiatus due to the pandemic, we’re bringing Xerocon back for our community introduced a new application of AI to the Xero platform, to reduce in the US and Canada. The conference, to be held in New Orleans in May next year, will provide a much-awaited manual data entry and save At Xero, we recently reached opportunity for accountants and bookkeepers to connect businesses time. a significant milestone in our with their peers, colleagues and the broader community, to celebrate their accomplishments, and learn more artificial intelligence (AI) strategy about the latest Xero tools and features. The new feature uses machine with the roll out of new bank Coined by some as ‘Coachella for accountants’, Xerocon learning to predict the contact reconciliation predictions. has been one of our true passion points and an incredibly unique way for us to bring the Xero community together and account code for transactions over the years. The predictions feature has that cannot be matched to invoices or bills using an organisation’s bank rules, Xero’s matching logic, or memorisations. Previously, businesses had to manually enter new contacts or account codes to reconcile these transactions — a time-consuming process that risks manual error. Bank reconciliation predictions add to our growing portfolio of AI-enabled product features, designed to help businesses and advisors plan for the future with confidence.

While virtual events have helped sustain the community over the past few years, we’re excited to have everyone physically come together in 2022. In the spirit of resilience, we have also established a fundraising campaign with Americares to support the people and communities impacted by Hurricane Ida, the California wildfires, and other natural disasters. Xero has also pledged to match up to US$20,000. Americares is a health-focused relief and development organisation that responds to people affected by poverty or disaster with life-changing medicine, medical supplies and health programs.

Xerocon Sydney confirmed for September

We have confirmed Xerocon, the unmissable event for cloud accounting leaders, is coming back to Sydney in 2022. The ‘Coachella for accountants’ event is a chance for thousands of accountants and bookkeepers to connect, learn and get inspired.

We’ve been unable to host Xerocon in person for the past two years as a result of the pandemic, but we’ve learnt that nothing replaces the power of face-to-face interactions and we’re very excited to finally be bringing the accounting industry together.

Xerocon Sydney will be taking place from 7-8 September 2022.

Other Xero updates...

We’ve made a number of updates on the Xero platform

We’ve made a number of other updates on the Xero platform over the past month, including:Simplifying inventory management

Global

GoCardless direct debit forms in Xero

If looking at product or service items in the inventory list, easily available and identical to users can now see a summary of key information at the top the item creation page. Before of the page. The editing button is more easily available and confirming any adjustments, identical to the item creation page. Before confirming any adjustments, users will now be shown not only what has users will now be shown not only changed, but by how much. what has changed, but by how much. users to assign staff to different projects and decide what they can and can’t see using different levels of visibility. You can now mark a project as public or private, so you can control who can see project information.

Xero updates

Improving staff access in Xero HQ

We’ve made a number of updates on the Xero platform over the past month. Improving staff access in Xero HQ

We are making it faster and easier for users to edit staff access to Xero organisations with improved bulk actions. GlobalNow when selecting multiple clients, users will be able to edit staff access to their subscriptions in one go, with the full list of role types available. GoCardless direct debit forms in Xero

We’ve made it easier for users to import direct debit forms from We’ve made it easier for users to import direct debit GoCardless and match them to forms from GoCardless and match them to contacts in contacts in Xero, even if they were Xero, even if they were created elsewhere. Users can now created elsewhere. Users can now manually match these forms to specific contacts and manually match these forms to specific contacts and continue continue to collect all future payments for that contact using GoCardless in Xero. to collect all future payments for that contact using GoCardless in Simplifying inventory management Xero.

We are making it faster and easier for users to edit staff access to Xero organisations with improved bulk actions. Now when selecting multiple clients, users will be XERO NEWS — FEBRUARY 2022 able to edit staff access to their subscriptions in one go, with the full list of role types available.

Easy expense management for employees

Australia

Report payroll information for STP Phase 2

To help accountants prepare for the STP Phase 2 compliance date at the end of the year, we’ve launched a new STP2 Information Hub. Users simply click the banner from the overview dashboard within Xero Payroll to 2 find the latest information on new pay items, including bonuses and commissions, directors fees and cashed-out leave.

US

Simplifying inventory If looking at product or service items in the inventory list, management users can now see a summary of key information at the top of the page. The editing button is more easily available and identical to the item creation page. Before confirming any adjustments, users will now be shown not only what has changed, but by how much.

If looking at product or service items in the inventory list, users can now see a summary of key information at the top of the page. The editing button is more The new Budget Variance report is being refreshed with a new design and some updates to help with financial analysis. Our users will be able to access the layout editor to format reports and view arrows to better understand budget variance formulas. We’ve also included the ability to sort by account code in the new ‘More’ button.

Assign different permission levels in Xero Projects

We’ve released new functionality in Xero Projects that allows admin

Stay compliant with the 2021 Schedule C report template

Simplifying inventory We’ve released a 2021 Schedule management C report template (View in Spanish) to help US advisors prepare income and expenses If looking at product or service items in the inventory list, for sole proprietor tax returns. users can now see a summary of key information at the top It’s now available as an option in of the page. The editing button is more easily available and their report templates. To make identical to the item creation page. Before confirming any sure there’s no confusion, we’ve adjustments, users will now be shown not only what has changed, but by how much. removed the default template for 2020. Users will still have access to customised templates, as well as templates that have been saved or published in their client organisations.

Improving staff access in Xero HQ

We are making it faster and easier for users to edit staff access to Xero organisations with improved bulk actions. Now when selecting multiple clients, users will be able to edit staff access to their subscriptions in one go, with the full list of role types available.

As part of Xero’s continuing commitment to gender Xero business news Xero has acquired TaxCycle, a leading Canadian tax preparation software company for accountants and bookkeepers. Together with TaxCycle, Xero is striving to make year-end tax simpler and more beautiful for our Canadian customers. Based in Calgary, Alberta, TaxCycle was founded in 2010 by Canadian tech industry veteran Cameron Peters. Cameron created some of the first tax software for electronic filing in the mid-90s and has been continually innovating in the space since then. Xero acquires TaxCycle to simplify tax in Canada Xero included in 2022 Bloomberg Gender-Equality Index As part of Xero’s continuing commitment to gender equality, we are proud to announce our inclusion in the 2022 Bloomberg Gender-Equality Index (GEI). This is the third consecutive year we have been included in the index, and we’re pleased to see our scores improve each year. The index is made up of 418 global companies spanning 45 countries who are committed to a more equal and inclusive workplace. Xero has acquired TaxCycle, a leading Canadian tax preparation software company for accountants and bookkeepers. Together with TaxCycle, Xero is striving to make year-end tax simpler and more beautiful for our Canadian customers. Based in Calgary, Alberta, TaxCycle was founded in 2010 by Canadian tech industry veteran Cameron Peters. Cameron created some of the first tax software for electronic filing in the mid-90s and has been continually innovating in the space since then. TaxCycle’s software provides a full Canadian income tax suite, with almost 4,000 tax firms and over 16,000 individual accountants, bookkeepers and tax Canada Xero acquires TaxCycle to simplify tax in Canada equality, we are proud to announce our inclusion in the 2022 Bloomberg Gender-Equality Index (GEI). This is the third consecutive year we have been included in the index, and we’re pleased to see our scores improve each year. The index is made up of 418 global companies spanning 45 countries who are committed to a more equal and inclusive workplace.Xero business update... Xero included in 2022 Bloomberg Gender-Equality Index TaxCycle’s software provides a full Canadian income preparers using its solution. tax suite, with almost 4,000 tax firms and over 16,000 individual accountants, bookkeepers and tax This acquisition advances Xero’s commitment preparers using its solution. to extend and enhance our product offering to This acquisition advances Xero’s commitment Canadian customers, following recent additions to extend and enhance our product offering to such as provincial sales tax return reports and Canadian customers, following recent additions such as provincial sales tax return reports and Canada chart of accounts templates. Canada chart of accounts templates. Global Canada for electronic filing in the mid90s and has been continually innovating in the space since Xero acquires TaxCycle to then. TaxCycle’s software simplify tax in Canada provides a full Canadian income tax suite, with almost 4,000 tax Xero has acquired TaxCycle, firms and over 16,000 individual a leading Canadian tax accountants, bookkeepers and tax preparation software preparers using its solution. company for accountants and bookkeepers. Together This acquisition advances Xero’s with TaxCycle, Xero is striving to commitment to extend and make year-end tax simpler and enhance our product offering to more beautiful for our Canadian Canadian customers, following customers. recent additions such as provincial sales tax return reports Based in Calgary, Alberta, and Canada chart of accounts TaxCycle was founded in 2010 by templates. Canadian tech industry veteran As part of Xero’s continuing Cameron Peters. Cameron commitment to gender equality, created some of the we are proud to announce our first tax software inclusion in the 2022 Bloomberg Gender-Equality Index (GEI). This is the third consecutive year we have been included in the index, and we’re pleased to see our scores improve each year. The index is made up of 418 global companies spanning 45 countries who are committed to a more equal and inclusive workplace

XERO NEWS — FEBRUARY 2022 4

XERO NEWS — FEBRUARY 2022 4