The start of a new financial year is the perfect time to look at what’s changed in your accounting software. Xero has quietly rolled out some useful new features and improvements that can make your workflow more efficient and your reports more insightful.
Here’s a roundup of the most relevant Xero updates for 2024–25—and how you can make the most of them.
🔹 1. Enhanced STP Phase 2 Functionality
Xero continues to refine its STP2 features, making it easier to:
- Map pay items to ATO reporting categories
- Auto-fill employment and income types for new employees
- See flagged errors before lodging
✅ Tip: If you haven’t reviewed your payroll setup in a while, now’s a great time to run a quick check.
🔹 2. Improved Bank Reconciliation Screen
The reconciliation screen has had a minor facelift, now with:
- Better visual separation of transaction lines
- “One-click add” suggestions for more rule-based transactions
- Easier access to document uploads alongside each item
✅ Tip: Start using bank rules more consistently—especially for subscriptions and regular payments.
🔹 3. New Short-Term Cash Flow Reporting (Beta)
Xero has expanded its short-term cash flow tool, allowing you to:
- Forecast inflows and outflows over 7, 30, or 90 days
- Add custom expected transactions (e.g. upcoming bills or invoices)
- See the effect of scenario changes on cash position
✅ Tip: Use this tool monthly to keep an eye on seasonal slowdowns or cash gaps.
🔹 4. More Flexible Report Layouts
You can now:
- Move rows and columns directly in the report builder
- Add subtotals, groupings, and new formulas
- Save custom views and share them with your team
✅ Tip: Create a standard management report pack to reuse each month.
🔹 5. Better Integration with Third-Party Apps
Xero has expanded integrations with tools like:
- Square, Shopify, and Stripe (more automation, better matching)
- Dext and Hubdoc for cleaner document capture
- Fathom and Syft for visual performance tracking
✅ Tip: Consider reviewing your tech stack—are you making full use of what’s already available?
📋 Need help with any of this?
If you’re not sure how to get the most out of these features, or if your file’s feeling messy after EOFY, I offer:
- Xero Health Checks
- Custom Report Setup
- Ongoing support or one-off help
📅 Book a session here → [Insert link]
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