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More ways XBert helps you make better decisions and give the right advice for smarter business

by XBert Team ~ 6 min read

Man at desk looking at computer and talking on phone.

In business, informed decisions are the best decisions. And the only way you can be truly informed, is to make sure that the data and financial reports behind those decisions are accurate and up-to-date. XBert's released new AI-driven business alerts, called XBerts, and workflow and risk reporting features to help businesses, bookkeepers and accountants collaborate and make smarter decisions.

Timely and accurate financial information has always been important, but during an economic crisis when businesses face daily challenges, it's crucial. You need full visibility over business health at any time and an understanding of your cash flow, debtor behaviour, patterns and risks so that any decisions you do make, are the right ones.

Bookkeepers, accountants and advisors have been invaluable during this crisis and will continue to be during the recovery. They've helped small businesses navigate and implement changing legislation, stimulus packages and employment schemes in what's been the toughest financial year for many. They've done this in addition to their usual compliance, tax, strategy and advisory work.

Up-to-date and accurate data leads to accurate reports and better advice for clients looking to survive downturns and upheavals, strengthen their position and enjoy sustainability and success when things improve.

At XBert, we decided the best way we could help businesses was to reach out to our customers and seek their feedback and guidance on what we had in the pipeline. We also asked what they needed to manage their workflow and client risks better, streamline processes, reduce the time spent on manual tasks and enhance what they do.

Recent features and updates

In XBert CONNECT for bookkeepers, accountants and advisors, we've introduced pagination on our Process Status dashboard which has sped up the page load time for practices who've added many client organisations. Your Process Status dashboard allows you to easily track and manage XBerts and tasks, team workload, unreconciled transactions and client risk. You have complete oversight of all outstanding and completed items or items for a reporting period across all of your clients and processes.

You can now add clients on MYOB, QuickBooks, Sage, Reckon or any other accounting system to your CONNECT workflows. These client organisations appear on your dashboards, and you can create and allocate Template Tasks and ad-hoc tasks to organisations, as usual, then assign these tasks to a team member or client to complete.

At the moment XBert integrates with Xero, but MYOB, QuickBooks and other software data integrations are coming soon. Although you won't receive data-driven XBert alerts for these organisations, add these organisations so you can track workflow and never miss a deadline!

You can read more and learn how to add non-Xero organisations to your CONNECT account here.

CONNECT users now see and can monitor each client's risk amount and the number of unreconciled transactions on their Process Status dashboard. Selecting the unreconciled number on your dashboard links you directly to the unreconciled transactions in Xero.

To keep things simple and streamline process management, you can now only allocate one Process for XBerts and tasks. XBert comes pre-loaded with over 15 standard bookkeeping processes such as Sales, Purchases, Cleanup, Compliance and Banking. You can customise these by editing, deleting or adding your own. Our XBerts are automatically mapped to the relevant process, but you can also customise the mapping.

We've made a few other improvements to the navigation, user interface and the creation of Template Tasks based on customer and partner feedback.

Email and HubSpot integration

Did you know you can create tasks in XBert from emails?

Each XBert account or XBert CONNECT account has a unique email address. When you send or forward an email to that address, you create an XBert task that appears within an organisation's XBERTS & TASKS dashboard or in your CONNECT portal's TASKS board after the next data sync.

The email subject becomes the task name, and any text in the email body becomes the task description. Once the task appears on your dashboard, can assign the task, set a due date, make it a recurring task, add more details or comment. But wait, there's more!

You can also include smart tags within the email to automatically set due dates, assign a team member, allocate the task to one of your Processes set up in XBert or add the task to a client or linked organisation for CONNECT accounts. Learn more.

We've also integrated XBert with leading CRM HubSpot. CONNECT users can triage client emails, create tasks, track conversations and tasks, access attachments and emails that form reporting processes, and know when emails have been responded to.

With XBert and HubSpot you can move away from the world of inboxes, paper lists and whiteboards, gain streamlined visibility across your practice, standardise how you manage your processes and client relationships and gain a full understanding of the value of your client relationships.

HubSpot has a free plan and if you're looking to explore how you can use XBert and HubSpot together, please email us at support@xbert.io and tell us about your practice and clients.

Client Risk Reports

For our CONNECT enterprise customers and in collaboration with our Step Ahead Partner Program members, especially Bentleys Queensland, we've developed interactive Risk Reports that can be customised and shared with clients.

These reports offer real-time, accurate client risk analysis and are a valuable tool for meaningful conversations on managing and mitigating financial risk. Customised Risk Reports are coming soon for enterprise-level partners, and we're working on a standardised version for CONNECT customers.

XBert Blog InPost Images BI RiskReport Example Image is of an example Risk Report only and is not based on a real client or data.

AI-driven Business Alerts

We know that for many of our business and bookkeeper customers, the greatest value they get from XBert are our AI audits of Xero data to detect risks, errors, anomalies and patterns that happen multiple times a day. So, our team has been busy working on more XBerts, short for expert business alerts.

  • Contact bank account has changed: Sometimes, the bank account details for a contact need to change, for instance, if they open a new account or switch their banking provider. However, a change can also indicate a data entry mistake or malicious activity like fraud or invoice scams. If bank account details are incorrect, payments could fail, or the wrong business or individual may receive the money.

  • Contact bank account same as existing supplier: Although not common, there are times when multiple suppliers or contacts in your accounting system may have the same bank account details. For example, if a supplier is part of a parent company or operates several registered businesses. However, a change to bank accounts can also indicate a data entry mistake or fraud or invoice scams. If bank account details are incorrect, the wrong business or individual may receive the payment.

  • Bank statement line missing: Generally, deleting bank statement lines is only required to remove duplicates. Deleting statement lines for any other reason should be investigated as it may relate to fraudulent behaviour, such as trying to hide personal expenses from the business. Manual deletions alter the statement balance for bank accounts in the accounting software compared to the actual balance.

  • Month-end journals missing: We'll alert you if previous activity suggests that some or all month-end journals could be missing or are lower than expected for the month. Keeping month-end accrual and prepayment journals (amongst others) up to date provides an accurate representation of the business' financial position and helps identify issues early.

  • GST registration required (Australian customers): When revenue posted for the current financial year exceeds the threshold for goods and services tax (GST) registration turnover. You must register for GST within 21 days if your revenue for the year exceeds $75,000.00.

  • Multiple attachment ABNs on supplier bill (Australian customers): XBert scans attachments in Xero like bills, receipts and invoices to enhance our alerts and double-check entries and data from automated reader apps. Typically, all attachments on a bill should have the same Australian Business Number (ABN), as they relate to one supplier and associated ABN. Ensuring contact details are correct, including ABNs is important for reporting to the Australian Tax Office (ATO). When contact details are incorrect, you may pay GST you don't need to, or you may receive credit for GST paid that you are not entitled to.

  • Donation to a non-DGR entity (Australian customers): Organisations or entities who are entitled to receive tax deductible gifts such as donations are called deductible gift recipients (DGRs). For a donation or gift to be tax deductible, it must go to an organisation or fund that has DGR status.

XBert Blog InPost Images Alerts Bank Journals GST Registration

Powering efficiencies and accurate data for smarter business decisions

We're on a mission to make XBert the most amazing cloud accounting add-on for businesses, bookkeepers and accountants. To achieve this, we've consulted and collaborated throughout the entire development process and will continue to do so.

Trial XBert for free now and experience all the features and benefits for yourself.

If you're a bookkeeper, accountant, advisor, franchise or owner of multiple businesses, XBert CONNECT is XBert at scale plus extensive AI-driven process workflow management and collaboration tools to manage organisations efficiently. Load as many Xero files and invite as many people to your XBert CONNECT account as you want, including your advisory clients.

We have a tailored partner program where we work with you to set up process management flows and have catch-ups to ensure you're getting the efficiencies you need and meeting your goals. To request more information, please email us at partnerprogram@xbert.io and tell us a little about your practice, team and clients.

XBert is an easy-to-use, powerful Xero add-on for business owners, finance teams, bookkeepers and accountants to stay a step ahead in business.

If you're serious about business success, sync your accounting data with XBert. In minutes, you'll know the amount of money at risk and how to prevent losing it.

You can book a demo or start your FREE trial now!

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