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A few weeks ago, Xero announced a competition to win 5 tickets, flights & accommodation to Xerocon 2015 in Melbourne. The brief: submit a creative and persuasive reason why you should win.The lure of the challenge could not go unmet, and Anthony Courtney & Sharna immediately started throwing ideas around which grew and grew until they took on a life of their own. Not quite believing any of those ideas would actually get put into place I sat in my dutiful corner seat nodding and smili... More...
By Sharna CouperXero has recently announced a number of exciting new Payroll features, which are coming in their update this month. The feature that we are most excited about is the automatic integration of payroll transactions into your General Ledger. We have found in the past that the process of creating and approving bills for pay runs has been a source of confusion for many of our clients. This new release will mean that once you have posted your pay run, Xero will do the rest for you -... More...
With the new financial year rapidly approaching employers need to be aware of tax and superannuation changes that will affect their employees.Superannuation rateFrom 1 July 2014 the superannuation guarantee rate will increase from 9.25% to 9.5%. For employers using Xero, whose employees are set up to receive the 'statutory rate' of superannuation, this change will automatically be applied for the first payroll after 1 July 2014. If you are using Xero, it is worth reviewing your employee list... More...
Written by Adele WardleyWe are all back in the office after a fun time at XeroCon last week (yes, accountants can have fun!).Xero GrowthXero now has over 200,000 paying customers worldwide with 75,000 of those in Australia. Over 40% of new customers in Australia have never used accounting software before. Growth is continuing at a rapid rate (customer numbers are doubling each year) and Xero expect this growth to increase along a typical bell curve - which means there is still a lot of accel... More...
From 1 July 2013 employers will need to pay 9.25% superannuation contributions on ordinary times earnings of their workers, an increase from the current rate of 9%. The superannuation guarantee percentage will continue to rise each year, until it reaches 12% in the year commencing 1 July 2019.This change will hit businesses bottom line, and you should ensure your budgets for the coming year reflect the increase. For larger employers the change may be substantial. It is also worth reviewing y... More...
Written by Courtney Marsh. I love it when things can be simple and easy to understand. This is something Xero does extremely well. Xero have listened to customer feedback and made some changes that might seem minor, but will simplify the book keeping process.Xero have simplified the bank reconciliation process by replacing the “unreconcile” and “delete” buttons with a simple “remove and redo” button. This small change will help reduce confusion when a mistake has been made reconciling the ba... More...
Written by Adele Wardley. We know book keeping has traditionally been time consuming and boring, but it doesn't have to be that way any more.Xero is a fantastic product centred around the user (YOU) not the accountant that helps business owners get organised and stay organised with their book keeping and invoicing. Our first xero seminar of 2013 was extremely well attended, so book in quickly for our April session to ensure you reserve your spot. There is no cost to come, and we will provide... More...
Written by Adele Wardley. Xero's latest payroll release is here (installed while you sleep!) and now facilitates employee's entering their timesheets directly to Xero payroll from their employee portal.We hate duplication, and we love automation. This latest, much anticipated, release allows your employees to enter their daily hours worked in their employee portal. These hours will then flow through to your payroll for the week - in addition to the existing options to enter their leave reque... More...
Written by Adele Wardley. It seems an unlikely choice – between a book keeper or a Chief Financial Officer (CFO) – one reduces the daily drudgery of invoices, bank reconciliations and administration – the other is a high level executive charged with providing strategic advice.When a small business owner is pressed for time (and frankly, who isn’t), a book keeper seems like the logical port of call to ‘gain back some time’, find that ‘work-life balance’, ‘free yourself up’, and allow yourself... More...
Written by Adele Wardley. Today’s smartcompany article reveals that the average cost to a business of tax compliance is $28,000 and 493 hours per year.Ouch! Imagine what could you do with an extra 500 hours per year.Are you spending your money wisely? Are you getting value for money?Are you leveraging your tax records to help your business make more money?Are you waiting for the government to simplify tax regime or are you going to do something about it? You might be waiting a while! we are... More...