With Christmas and the lure of a true relaxing break with family around the corner, it comes time to offer up gifts from the AccountKit family. We have been a touch on the quiet side since Xerocon with our attention finely focussed on bug fixing, optimising and polishing. That’s not to say there hasn’t been a bunch of other cool things in the pipeline, for indeed there has. Here’s what you’ll find in your AccountKit stocking this year.
- History & Notes for a couple of the registers
- XPM Sync exceptions reporting
- Inter-entity loan tool – V2.0
- AccountKit Support Invite
- Equipment finance polish and incremental additions
History & Notes
We’ve introduced the new capability of tracking historical changes to the mail register and correspondence register so you always know who’s changed what, when! Adds that little extra feeling of security knowing that things can’t be changed without everyone knowing about it.
- The history lines track any changes made by users and time stamps them along with what was changed. The only catch here is that we don't capture exactly what has changed within the content of the detailed description field given the volume of content capable of being saved. All other fields you can see the before and after.
- You can add notes at any time in case you need to describe why a change was made if it's not clearly evident from the history.
- There is more yet to be done, and once polished it shall slowly be rolled out across a majority of the tools.
XPM Sync Refinements and Exceptions
The XPM sync side of things has had a checkered past, but this is soon to be a thing of the past. Beyond working around a bunch of API limitations to increase the functionality of the sync process, there is soon to be a new exceptions report that will available each morning. Overnight we run a check to see what differences exist between our client data and XPM and highlight where there's any differences to be resolved.
This is not the end of this process, for we've finally enabled the syncing of contacts, but we're finding that there's a lot of duplicated client info there, so we're assessing the best way of handling this so that you're not having to maintain client details in multiple cases - this will be an ongoing saga.
The end game for this is to have a robust system for cross checking client data across all connected platforms so you can feel confident that a change in one platform is properly being applied and matched against all of your other software – no more double handling of client information!
Inter-entity Loan Tool – V2.0 [Beta]
Xerocon this year saw the Alpha release of the new improved inter-entity loan tool (IEL). Since then we’ve re-written whole elements as user testing showed up some less than desirable behaviour. It’s now in a feature complete state that we feel content to progress it out of Alpha and into Beta. We’ve many more ideas on how we can improve on it and it’s not 100% bug free, but if you want to take a step into the future of reconciling IELs, jump in for a try – it really is pretty awesome!
The key features with this new release includes as follows:
- It's now super fast to select, reconcile and unreconcille. Posting entries to Xero can be a touch slower at times, but it's come a long way since the Alpha release at Xerocon
- You can now add a description in case you have multiple inter-entity loans between the same two clients.
- Added functionality for handling of tracking categories
- Modified or voided reconciled entries now appear in red, enabling you to unreconcile and re-reconcile as required.
- Implemented deep-links – so you can now click through from a transaction direct into Xero.
- The number of unreconciled entries shows on the list page and in the tab of each inter-entity loan.
- We now show the legal and display names for each connected Xero file
- Show the Xero connection status of a client, which can then be re-enabled if accidentally disconnected.
Since the last release at Xerocon, we’ve added a bunch of new functionality based on the feedback received. Some of the more interesting changes include.
- Ability to bulk post to a set date from the list page, rather than all available transactions. Useful if you only want to post up to the date a schedule was paid out.
- New logic within the schedule to check for early or late payments when checking to see whether the accounts reconcile with Xero - highlighted with a (i) icon.
- Optimisation to the bulk post function - it's much faster now.
- New Summary Movement Report enabling you pick a period across the practice or for a family group that shows the opening balances, new schedules, payments, debt reductions and closing balances across the various accounts.
- Updates to the Excel and PDF reports to handle the non-current, current and unexpired interest charge splits properly.
- Reworked how we handle residual / balloon payments to enable you to specify when a balloon payment is expect; Defaults to the month after the last payment.
- Refined the methodologies of how the interest is calculated and apportioned over the life of the loan.
- You can now set the "Start of Financial Year" month both globally in practice settings and on a per schedule basis. This updates the annual summary tab and associated PDF and Excel exports.
- New functionality to enable the use of tracking categories in the interest and purchase journals.
- Journals you want to clear can now be voided rather than reversed, which is much faster.
- Lots of bugs squashed - too many to mention here.
AccountKit Support Invites
Whilst not necessarily as exciting as some of the above, it's super exciting for the support team! You now have the ability up under the help menu to invite in AccountKit Support. Previously it was a labourious process to manually invite one of the support team in. But now it’s a simple click where you can enter a brief description of your issue before submitting it. We then have the ability to access your AccountKit to help resolve any issues until such time that you rescind access.
The Road Ahead
There’s still much to be done across all areas, but our core focus is going to be primarily around polishing what we have and rolling through things like the history notes to other tools. We believe that 2-Factor Authentication is a must within the coming months also, apart from the ATO requiring this sort of security, it’s simply a good idea when dealing with such sensitive data. Changes with the Xero API mean we’ll need to find a way of matching against TFN’s also, since they won’t be fully available anymore. 2018 is going to be a massive year!