Xero introduced a new Find & Re-code tool that enables bookkeepers and accountants to easily find and fix transactions that have been miscoded or need to be re-coded.
With this feature, users can quickly correct the errors that come with small business accounts, including tax or account codes that need adjustments when reviewing client files at year-end or taking on new ones. Find & Re-code was added to simplify and automate the process of searching for and updating transactions at once.
The tool’s key features include:
- Find, the search and analytical tool advisors can use to identify, assess and correct transaction issues. Users can build complex search criteria with single or multiple search filters across bank accounts, expense claims, invoices or bill transactions so recoding can be completed individually or in group lots.
- Re-code, which advisors can do for accounts, tax rates, tracking and contacts across multiple transaction lines instead of manual one-by-one adjustments. Users can either edit the source transaction or create a journal reflecting the change.
- Reconcile contacts, quickly cleaning up duplicate or multiple accounts and contacts into single source files.
- Recorded history, as Xero stores a full history of re-coded transactions to accomplish transparency.
“Xero continues to deliver innovations to simplify day to day tasks and make the mundane tasks, that can often shackle productivity, magical,” stated Angus Norton, Xero’s chief product officer. “We asked our accountant and bookkeeper communities how we can improve their business and help them focus on meaningful business with their clients. Find & Re-code provides an easy solution to a previously time intensive problem. Xero provides the complete platform for small businesses and their advisors to communicate and collaborate with real time accurate information—and we will continue to listen so we can create even more magic.”
