Xero launches new app – Xero Go

Xero Go new app

Last month, myself and our Business Services Manager, Ben Friend, attended Xerocon London, a two-day conference that has been described as being the ‘Glastonbury for accountants’ and it did not disappoint!

Xerocon provided us the opportunity to hear all about future trends and product updates within Xero, so we can stay up to date with all the latest technology available to us and our clients.

During the conference, Xero unveiled their new app, Xero Go, which has been created to help sole traders access entry-level accounting and help to prepare them for Making Tax Digital for Income Tax Self Assessment (MTD for ITSA).

Preparing for MTD for ITSA

From April 2024, self-employed individuals and landlords earning more than £10,000 per annum will be required to:

  • keep digital records of their income and expenses
  • send quarterly summary updates to HMRC, via MTD-compliant software
  • Send an End of Period Statement and Final Declaration, via MTD-compliant software

How will the Xero Go app help sole traders?

It can be difficult for sole traders to stay on top of complex accounting and regulatory changes while they’re busy running a business, but with Xero Go, they can have all the tools they need at their fingertips.

Xero Go app fingertips

Once subscribed to the app, they can have access to the following:

  • Expenses: Sole traders can record expenses anywhere, any time, using the Quickscan feature, powered by machine learning. Quickscan extracts expense information from receipts, imports them into Xero Go and auto-suggests tax categories to save you time when tax coding
  • Invoices: Users can create, send and track customised invoices on the go. They can set up auto-reminders for late payments, and even add a Stripe ‘pay now’ button to get paid faster using Apple or Google Pay
  • Dashboard: Sole traders can keep a finger on the pulse of their finances in one place. See unpaid or overdue invoices, track who has and hasn’t paid, view profit and loss by month, and gain insights such as top expenses for the month.

How do you download and subscribe?

The mobile app, is now available for UK subscribers and is free to download on iOS – with a paid ‘add-on’ invoicing feature, which includes the ability to add Stripe payments to invoices.

An Android app and additional functionality will be added in the coming months. 

How will this app benefit us as your accountants?

The Xero Go app is complemented by the Xero Go Partner Plan, an edition for accountants and bookkeepers that hosts all the up-to-date financial data we need to service our clients, without the need to chase for paperwork.

Clients can invite their accountant to link with their Xero Go account, so we have secure access to all the information we need for filing quarterly/end-of-year returns etc.

Xero Go connected

How to invite your accountant to link to your Xero Go account?

Once you have downloaded and subscribed to the app, follow these steps to send an invitation to your accountants:

  1. Tap More.
  2. Tap Invite your accountant.
  3. Enter your accountant or bookkeeper’s email address.
  4. Tap Send Invite.
  5. Your accountant accepts the invite and can now view your expenses, income and paid invoices

Still need to know more?

If you would like to talk to Blue Spire about the Xero Go app and how this could help your business, then please don’t hesitate to get in touch with us today.

Source: Xero

James

James

Director, Blue Spire.

We're Here For you

Let's talk

Our friendly team are ready to help you and answer any questions you may have. Just use the form below and get in touch.

Scroll to Top