UPDATE: Storage limit, file type added.
Cloud accounting company Xero has added the ability to store documents in its online accounting program. Xero has for a long time allowed users to attach PDF invoices to a bill. The program had expanded that into a basic document management system that let users attach documents to other types of financial data.
“Files enables businesses to manage records efficiently without having to maintain files physically in filing cabinets or separate systems” said Chris Ridd, Xero managing director for Australia, in a press release. “By providing external branches and offices direct access to Files via the cloud, interoffice collaboration is enhanced”.
Users could drag and drop files from their desktop to an inbox in the Files section in Xero. Multiple files could then be attached to a new or existing bill, expense receive, fixed asset, spend money and receive money transactions.
Once attached, the files disappeared from the Files inbox. A user could create folders in the Files section such as Contracts, Customer Docs and Price Lists to keep track of documents.
UPDATE: Files up to 25MB could be uploaded in bmp, csv, doc, docx, gif, jpeg, jpg, odf, pdf, png, ppt, pptx, rar, rtf, tif, tiff, txt, xls, xlsx and zip formats. Xero Files had a “soft” maximum storage of 1GB, the company said.
Documents could also be dragged onto the screen wherever the Files icon appeared, such as on bills, expense receipts and the spend money or receive money transaction screen.
Documents could be added to transactions within the reconciliation screen. Xero included basic image editing tools such as rotation to properly display scanned receipts and other documents. Xero suggested that filing documents in Xero could be a service accountants and bookkeeper could offer to business owners. Documents could include contracts, company incorporation documents, board minutes and warranties that could be shared between the business owner, accountants, bookkeepers and directors in the one place, the company said in a press release.
Accountants could also attach Excel spreadsheets containing manual calculations to reports. Xero users could add photos and receipts of fixed assets to create an asset register, a Xero demonstration video said.
Documents could also be added to contacts (suppliers or customers), stepping Xero towards a lightweight customer management (CRM) tool.
Xero released a video (below) showing how Xero Files could be used.