Xerocon New Releases

Part 2: Xerocon New Releases

Greater integration with PayPal:

If you use PayPal as a Payment method to accept payments on Xero Invoices, your customers will no longer be redirected to PayPal from the online invoice to pay!

1. Customers can now pay Xero Invoices with PayPal using PayPal connect, it’s like Facebook Connect in that it simply allows the user to login to their PayPal account and the information is pulled over to the present website without having to go over to PayPal.
2. Immediately after the payment is submitted, the Xero Invoice is now marked as paid and available to be reconciled when the payment processes.

So happy about this complete circle.

I did ask about PayPal Invoices and Transaction Detail within PayPal being brought over either as Xero Invoices and Bills or Receive and Spend Money to match up to the PayPal Bank Feed in Xero and was told they are working on that. I trust them and look forward to it.

Direct Integration with Wells Fargo:

 

Previously announced in June, this is something that has never been done before in the world. Banks in Australia and New Zealand have had direct bank feeds with Xero instead of using a 3^rd party, like Yodlee, to bring the data over to Xero. However, no bank has actually partnered with an accounting program to have real time fluid data transfer.

Workflow in Xero

In addition to my wins in Part 1 and the update of items on the roadmap, here are new releases that have either already been unveiled during Xerocon or will arrive by September 2016.

• We can now create Bank Rules for Transfers between accounts.
• When you’ve spoken with a customer who has not yet paid their invoice but they tell you when they can pay it, there is now an Expected Payment Date, in order to help view Cash Flow.
• We can star Performance Reports to show up on the Dashboard
• As advisors, we now have an Assurance Dashboard that is easier to see how, when and where users were working on the account.

There are a lot of updates with Xero Payroll, but Forte doesn’t process payments for jewelry businesses, so we don’t use them. Instead, we are huge fans of Gusto.

Partner Update: Gusto

Like we do at home, Gusto has the Zen(payroll) clean approach to remove shoes at the door. They have cool socks too in case we want to talk about benefits.

In addition to sweet socks, Gusto is offering Health Insurance and 401k plans straight through their system.

They’ve done all the homework, deciphering and translating for us, so employers are guided through their simple, straight forward, and beautiful system. The design is always focused on making it an easy process. They do this exceptionally well.

Some of the coolest new features recently revealed is complete employee self-onboarding. Check out this list from the Gusto breakfast and presentation we attended at the San Francisco office:

What didn’t happen:

In my dreams, Hubdoc & Bill.com will get in bed together and have a sexy baby. I really like certain things about each one or Receipt Bank in place of Hubdoc, but they are redundant to an extent and need to become one application in order to function fully.

We had a huge issue with Bill.com creating duplicate contacts (i.e. creating payment history in a new contact instead of all in one same contact) after they began their direct integration with Xero last November, which was caused by incorrect URL mapping. (resolved)

Hubdoc doesn’t process Credits (refunds) and often mistakes the company tagline or other prominent feature of a bill for the contact name and thereby creates multiple files that have to be consolidated and removed.
Click here to Tweet: In my dreams, @Hubdoc & @BillCom will get in bed together and have a sexy baby. http://bit.ly/2blL2lg @theheartdept @xero

UPDATE:  August 2018:  Xero Bought Hubdoc !!! Now we just need Bill.com to be the baby on board.

Part 1 Updates Part III Mindful Takeaways