Person filling out a invoice on a laptop.
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Feb 26 2024

New Xero invoicing system for financial management

At the end of January, Xero announced that it would be retiring its classic version of Xero invoicing on September 2nd, 2024. As a piece of software that has been integral to the operations of bookkeepers and accountants for years, you’d be forgiven for thinking this announcement is going to cause disruption for businesses. Not so. The new version of Xero invoicing promises to bring many exciting features, all of which we’ll be discussing in this article.


What is new invoicing in Xero?

Unless you’re an accountant, you probably didn’t know that Xero has had two versions of their invoicing feature for some time – classic and new. Indeed, many chartered accounts like Jan McDermott Chartered Accountants, have already been using some of the new features to provide their clients with customisable, simple, and fast invoicing solutions.

The aim of Xero in discontinuing classic invoicing is so they can focus all their resources on updating the more modern interface, instead of maintaining the older system at the same time. If you want guidance on Xero implementation and training, the Jan McDermott team is here to help. Our accountants Birkenhead team will help you get used to the new interface and transfer all your settings and templates seamlessly over to the new system.

Features of the new version of Xero invoicing

Before we take a look at some of the features of the new Xero invoicing, it’s important to note that many of the classic system features aren’t going away. Instead, they’re simply being incorporated into the new version alongside the features which are to be introduced. The existing features that will be carried over include:

  • The ability to copy customer information to a new device.
  • Select products and services directly from the invoice screen.
  • Remembers previously selected invoices for easy, regular invoicing.
  • Keyboard shortcuts for quicker invoice creation.
  • Recording invoice payments along with customer credit.

The following are just some of the new features you can expect to see from the new invoicing between now (February) and September include:

  • Detailed invoice history and audit trail.
  • Attach files direct from the Xero file library.
  • The ability to copy invoice information to a range of other documents such as quotes.
  • Recording overpayments against invoices to allow credit to be applied on future payments.
  • Viewing tax rates and tax breakdowns in the creation screen.
  • Auto-generation function when invoicing a contact group for the same amount and breakdown.
  • Ability to set a currency exchange rate.

Looking for chartered accountants Wirral?

Jan McDermott Chartered Accountants are a firm that believe business financial management shouldn’t be a chore. That’s why we make our expertise in using Xero invoicing your strength too. With our help, you’ll be able to customise your invoicing with Xero so it meets the needs of your business. We understand that organising and processing payments is something business owners must do all the time. Don’t go it alone, get in touch with us and a member of our friendly team will be happy to talk you through what we can offer.