New Vendors/Suppliers Entries
The purpose of this review point is to display the transactions for newly created vendors. This can help you below ways:
This allows you to review the vendor and validate. If it is a fraudulent charge, you can spot it here.
You can confirm how it has been classified. Imagine if your staff has made an error using the wrong GL Code. If you don't review and reclassify it now, the same error will continue even in the future, as they will follow the historical transaction for the coding. Hence, it is essential to review the coding.
In case you need to request W9 for the same from the Vendor.
New Customers Entries
New Customers entries will show all the transactions of new customers for the selected period. Like newly created vendors, you can quickly validate the transactions and classification.
New GL Account Entries
You don't create a new account every now and then. However, when it is created, you want to ensure it is created for the right reason. At times, it may happen that staff may not find an appropriate account, and they may have created a new account. This review point will give you a list of newly created accounts which you can quickly review and decide whether another account can be used or you're fine with a newly created account.
New Contacts Entries (For Xero)
New Contacts Entries will show all the transactions of newly created contacts for the selected period. You can quickly review and validate the charges. This is exactly the same report for New Vendor/Customer Entries; it is just the difference of name used in Xenett for QuickBooks and Xero clients.