Any approach you slice it, the previous two years have examined us all. None extra so than you all — our valued accounting and bookkeeping companions — who’ve helped your shoppers navigate a digital acceleration and shift their enterprise fashions to outlive (and thrive).
Right this moment at Xerocon Sydney, we had been capable of rejoice what we are able to obtain after we work collectively to help small companies throughout Australia and New Zealand. If you happen to missed it, right here’s a recap of the product highlights.
Simplifying folks processes with Xero and Planday
We launched our Altering world of labor reviews for Australia and New Zealand, which shine a lightweight on the workforce challenges that your shoppers face, the office experiences of their workers, and the crucial function of know-how on this altering world of labor.
The reviews discovered that small companies are struggling to remain on prime of necessities round worker entitlements and funds, with round half agreeing that it’s disturbing and complicated. Actually, 37% of small companies in Australia and 29% in New Zealand are frightened their employees will probably be paid incorrectly resulting from complicated payroll obligations.
Our suite of worker administration instruments at Xerocon — together with Xero Payroll, Xero Me, and Xero Bills — make it simpler for employers to handle their workers, giving them the instruments they should create an empowering and optimistic expertise, which helps them appeal to and retain expertise in an more and more aggressive surroundings.
We had been excited to launch a brand new beta trial of Xero Payroll plus Planday at Xerocon. The Planday beta is out there now for eligible small companies utilizing the Retail and Clerks Awards in Australia. This integration will empower your shoppers with seamless scheduling of time and attendance, to allow them to get pleasure from correct payroll information and compliant rostering.
We additionally showcased our recently-added begin, finish and break occasions performance within the Xero Me app. This characteristic helps your shoppers seize correct worker timesheets, save time on handbook processes for a sooner pay run, and help timesheet record-keeping necessities.
Managing Australian payroll within the digital financial system
With Single Contact Payroll (STP) Section 2 on the horizon for our Australian clients, we dived into the instruments we’re constructing in Xero to make it simple so that you can meet the brand new STP Section 2 submitting necessities. Don’t neglect to go to our STP Section 2 portal inside Xero Payroll to know and motion the steps to transitioning your follow.
One other compliance replace we shared with advisors at Xerocon Sydney was considered one of our most extremely requested options: payroll historical past. We shared the primary section of this new characteristic — worker information — and defined the way it will show you how to establish, audit, and reconcile your shoppers’ payroll rapidly and precisely.
Serving to your shoppers keep away from the money movement crunch
Money movement continues to be a problem for small companies throughout Australia and New Zealand, with our newest Xero Small Enterprise Insights report discovering that 92% of small companies in Australia and 95% of small companies in New Zealand had at the very least one month of destructive money movement — or ‘money movement crunch’ — in 2021.
At Xerocon Sydney, we shared some instruments to assist your shoppers handle their money movement. These included a brand new pilot that can floor your shoppers’ GST and PAYG figures from their BAS, to allow them to see them of their short-term money movement projections. A second beta that’s coming quickly to Xero Analytics Plus will predict invoice and bill funds, together with people who come from our app companions, making our short-term money movement forecast extra correct.
Getting fast entry to solutions in Xero
We shared some new updates in Xero that can show you how to rapidly discover the data you want. In Xero Follow Supervisor, our redesigned job supervisor will make it simple to seek out and handle jobs with sorting, filtering, in addition to updating the precedence and state straight within the desk. You may get early entry to the new-look job supervisor by signing as much as the Xero Insiders’ Program.
There was loads to share in reporting too — together with some new options on the way in which, together with:
- a brand new software that can assist you deliver saved layouts from outdated Revenue and Loss and Steadiness Sheet reviews, throughout to the brand new variations
- the choice to robotically group accounts in accordance with their account code
- a beta that includes a visible chart within the Bills by Contact report, to assist your shoppers perceive their information
- the flexibility to use default settings throughout all reviews in an organisation, corresponding to whether or not reviews are on a money or accrual foundation
- upgraded variations of extra reviews, together with Financial institution Reconciliation, Basic Ledger, and Journal reviews
- international forex columns and disclosures in new reviews
It was nice to share all of the methods we’re supporting you as you put together to make the change to new reviews earlier than the older variations are retired on 31 July 2023.
Harnessing the facility of neighborhood
There’s one thing actually particular about our companion neighborhood and I’ve little doubt that we’re a greater enterprise after we work intently with you on merchandise which are smarter, easier and extra seamless than ever earlier than. Thanks as at all times for the whole lot you do, and please get pleasure from the remainder of Xerocon!
