Today we’ve released the latest changes to payroll and we also wanted to take this opportunity to share with you whats coming soon as we continue to see increased usage of payroll in Xero.
You’ll notice an updated Payroll Overview design that shows what needs your attention – time off requests or timesheets that need approval or pay runs that need paying. We’re also showing Taxes & Filing obligations to ensure you file and pay your payroll taxes on time. Overdue obligations are always shown as well as upcoming filings or payments. The overview header bar provides you with quick links to common tasks like adding a new employee and other useful information around your payroll.
We’ve also updated the Employees list, New Employee and Employee Details screens to improve the flow and make them easier to navigate. The employee header now provides Continue reading ›
Around here, we want to make it super easy for you to move your existing clients to Xero. Why? Because we want you to leverage a beautiful accounting platform built for the cloud. Practitioners who are tired of forced migrations, sloppy upgrades and a confusing interface are now only a few clicks away from leaving it all behind for Xero.
“The conversion tool is awesome. We can convert a client’s existing file and bring over the year-to-date work and keep them operational with minimal time delay and no duplicate data entry.” – Mariah C. Venus, Director of Operations, BookKeeping Express.
With the release yesterday, Xero US Partners can submit a QuickBooks Pro, Premier, Mac or Online data file for automatic conversion.
Anytime, anywhere: It’s that easy
Feel free to convert a file anytime, anywhere. Simply follow these steps:
From within My Xero:
- Select “Add organization.” You will be given the option to upload a file. When you select QuickBooks from where you are converting from, you will be able to choose your file for conversion.
- Upload the file. We will email you an invite to view your newly, fully-populated Xero organization.
Hey, I’m Matt. Following on from Penny’s recent post about a release, I’m the other Product Owner in our ever-growing Sniper team at Xero. Some of you may know me from my previous roles at Xero with implementation and sales. Naturally, it’s a great move for me to change things up after six years and get one step closer to our product’s engine room. It’s also great to be directly contributing to product decisions after having spent so much time at the coalface working with Xero inside small businesses and accounting firms.
As many of you know, the Sniper team are tasked with the development of a range of smaller (and increasingly larger!) features to make life a little easier for all our customers.
I wanted to give you a bit of background on some of the highlights from today’s release.
- Edit standard layout for remittance advice – when sending remittance advices to suppliers, you now have the option of including branding, such as a logo, and displaying an alternate address.
- Bank reconciliation improvements – Xero has always helped you reconcile transactions by automatically suggesting coding options – this is great when you code similar transactions the same way every time. However, in some cases, this isn’t necessarily what you want, so you can now control this behaviour by turning off (or on) the ‘Suggest previous entries’ option for your organisation by bank account.
In June 2014, we reached the huge milestone of processing over one billion Australian dollars per month of Australian payroll with employers paying over 200,000 employees. This was the first time we’ve gone over that amount in one month and it continues to grow!
Over 350,000 employees, approximately 3% of the working population of Australia, were managed by Australian Payroll in Xero in the last financial year. We’ve seen amazing growth in both the number of businesses and amount of Australian payroll processed using Xero.
End of Financial Year Payroll
Your feedback from the EOFY release has been mainly positive and thank you to everyone who has taken the time to share your thoughts, it helps us help you better in the future. If you still need to submit your report to the ATO we have a recorded version of our EOFY Payroll training available here. The PAYG Payment Summary Annual report must be lodged with the ATO by the 14th August. Continue reading ›
We’re pleased to announce our second direct bank feed in the United States from our friends at Silicon Valley Bank. Silicon Valley Bank is well known to the San Francisco start-up industry, and has been a popular choice for California’s leading technology businesses and investment community.
By linking Xero directly with SVB’s online banking platform, you get reliable overnight delivery of the prior day’s bank transactions directly within Xero. As a result, you can make smart business decisions by getting an accurate and comprehensive view of your finances, without the hassle and costly mistakes caused by out-of-date cash flow balances.
Silicon Valley Bank has also recently launched operations in the United Kingdom, and we’re pleased to report that UK customers will also soon be able to apply for bank feeds with Silicon Valley Bank, giving us our second direct feed in the UK.
I’ve been working with Mulcahy and Co., a mid-sized firm based in Ballarat, for a while now and I’m excited that they have made it to Xero Platinum Partner.
As one of the top five firms in the region, they look after an interesting mix of clients, with around half of their client base being farmers and the rest being SMEs in Ballarat and beyond (they also have clients in most other states).
From the moment I caught up with Jamie and Chris Mulcahy – the charismatic brothers who set up the firm in the late 90s – and Mark Cunningham, who’s been a team member since 2003 and a Partner since 2010, it was clear they were the kind of guys with boundless energy to grow their business and help their clients do the same.
What’s really blown us away is how quickly Jamie, Chris and Mark and their team have progressed from Bronze to Silver and now Platinum Partner. Starting in March 2013, they got to Gold Partner just a few months later in July and then leapt ahead to Platinum Partner in June of this year, adding 500 Xero clients in just 15 months. And they’re the first independent firm in Australia to reach this milestone, which is a stellar achievement.
Clearly, an effort like this deserves a big pat on the back (and then some), so we invited Jamie, Chris and Mark (pictured below with Stuart McLean, Xero’s Chief Revenue Officer, Chris Ridd, MD Xero Australia, and myself) to our Melbourne office for a chat about how they did it.
The one-day event was primarily focused on reviewing and discussing a comprehensive whitepaper that has been been recently developed by the IPA in collaboration with Deakin University. The whitepaper looks at a range of key issues facing small businesses in Australia, and aims to provide substantive policy input to the Federal Government. The document is due to be submitted to the Federal Government in December.
Casting my eye around the room, I saw a who’s-who of influential people in attendance, so I knew this was going to be a good, productive session. There were representatives from government, business, regulators and industry bodies, including Australian Small Business Commissioner (Mark Brennan), ACCC Deputy Chairman (Dr Michael Shaper), CEO of the Australian Chamber of Commerce & Industry (Kate Carnell AO), as well as senior executives from NAB, REIA, Telstra, Family Business Australia and more.
Central themes of the day
Six key topics were covered over the course of the day, and each one was fleshed out into a well-considered list of new initiatives and recommended policy changes that can positively impact and invigorate the small business sector.
- A simplified and targeted small business tax system which supports small business growth
- Australia’s small business are appropriately regulated – providing a safety net without stifling entrepreneurship
- Competition policy which supports and promotes small business by creating a level playing field
- Adequate and affordable access to responsible finance for small business
- Promoting productivity through innovation and use of technology (such as Standard Business Reporting)
- Links to our regional trading partners being facilitated to open export markets for small business
The Honorable Bruce Billson MP, Federal Minister for Small Business joined us as the beginning of the day. His passion for this whitepaper was clear. And so it should be, with his department declaring an ambitious agenda to cut red tape in small business to the tune of $1B per annum during the Liberal Party’s current term in government.
Minister Billson made some impressive announcements about reducing SME reporting burdens from 260 down to 26, and the government’s recently-announced ‘Digital by Default’ initiative, which is all about small business embracing online and cloud technologies to create more seamless exchange of data with government bodies. It was also great to hear Minister Billson give a shout out to Xero, commending us for our ground breaking efforts in embracing SBR in our recent tax platform. Continue reading ›
Following hot on the heels of ASB, Kiwibank has also launched support for next-gen banking with Xero, providing further validation of the vision to bring internet banking and accounting software closer together.
Kiwibank has added support for automated provisioning to their business banking customers, who can now quickly set up feeds for Xero. They can also send payments from Xero back to internet banking for approval.
By creating connections between Xero and the data and systems provided by the banks, businesses can have better control of their financial position. Plus, with the help of their advisors, they can now react more responsively to changing business dynamics.
But our vision goes beyond the simple flow of transaction data from the bank to the accounting system. Our platform will allow customer instructions to be seamlessly sent to the bank from Xero, which allows accounts and feeds to be created automatically. This removes the traditional friction associated with dealing with banking systems, while providing better visibility and control over a small business’s financial position.
And this is just the beginning. When customers connect Xero with the banks and their systems, their businesses can take advantage of additional banking products and services. This will allow them to react faster than ever before, and give the banks more opportunities to help their customers be successful.
By establishing relationships with ASB Bank, TSB and now Kiwibank, Xero is opening up new opportunities for small businesses to interact with their banks. This will save them time, improve their financial visibility and, ultimately, give them even more control over their business and its financial needs.
To use this service, sign in to internet banking and visit Your Settings & Services, click on Xero Services and follow the instructions.
And for our Australian customers, direct feeds have arrived for:
Rural Finance – provides banking services to the Victoria region, and in particular to the agricultural business sector. More details are in our Help Centre. Feeds are available now.
Maitland Mutual - services clients in the Maitland and Hunter valley regions of New South Wales, and are one of the oldest building societies in Australia. They’re providing feeds to Australian customers. Feeds are available now.
IMB (Illawarra Mutual Building Society) - is the oldest building society in New South Wales and the third largest building society in Australia. We are currently transitioning existing IMB customers over to direct feeds – we’re accepting applications now and feeds will start on the 9th of July. More details are available in the Help Centre.
Our current list Australian direct feeds is available in our Help Centre. More to come soon.
We’ve released updates today in payroll make it even easier to manage your end of financial year for Australian payroll. We’re holding free online payroll training sessions to get you ready and give you an opportunity to ask any questions. Book now to make your payroll end of year as easy as possible.
Payment Summary Annual Report
You can now lodge your payment summary annual report online from payroll. If you’re an employer you need to lodge this report with the ATO each year. Your report includes all the payments you made to your employees and the tax which was withheld. You can make it easier for your employees to lodge their tax returns by lodging your report early and electronically.
Lodging your payment summary annual report online from payroll is the quickest and most secure way to meet your obligations. All you need to lodge online from payroll is an AUSKey. This is a secure login that identifies you to the government on behalf of a business. For more information access our Help Centre guide.
Payment Summaries can be emailed to your employees from payroll or made available for them to download from My Payroll. They need to be issued to your employees by the 14th July and the annual report lodged with the ATO by the 14th August.
Updates for Auto-Super
We’ve also released a number of changes to further enhance Auto-Super in payroll including:
- Changes to ensure your compliance with the SuperStream data requirements.
- The ability to include a negative super accrual to ensure that any adjustments made, e.g. overpayments, are included within the total super payment owing for that employee.
- Plus other smaller tweaks you won’t see like support for international phone numbers when using SMS authentication.
Starting the new financial year ready to go
The Superannuation Guarantee (SG) rate increases from 9.25% to 9.5% on the 1st July. Moving relevant employees to the new rate has been automatically taken care for you so you don’t have to do anything in payroll. We’ve also updated the payroll tax tables as we do every year so you don’t have to worry.
If you like what you see and haven’t yet made the change to Xero check out our conversion partners or contact to one of our certified advisors. We have some exciting updates coming soon to Payroll and we’ll share these with you as soon as they’re ready.
For full details please check out our release notes.
Today we’re pleased to announce the release of Federal e-file in US Payroll. Back in April we released the first version of Taxes & Filings. This provided you with signature ready completed tax forms to ensure you could meet your filing obligations.
Easily meet your Federal payroll tax obligations with Federal e-file
With Federal e-file, Xero creates and electronically files your Federal payroll tax forms for you. This allows you to file with the IRS online, at anytime from anywhere to meet your filing obligations. Federal e-file is available to customers on Premium pricing plans. To use Federal e-file it’s required that you enroll your business with Xero. For instructions on how to enroll please click here.
Although we’re not yet at our goal of making everything electronic, we’ve achieved a key milestone in this release with Federal e-file. We’re now focused on bringing you Federal electronic payments and other key improvements to continue to strengthen the experience.
Our vision is to provide you with the worlds best payroll experience for small businesses, in all states, allowing you to manage your payroll; easily and without fear. However, at this time we have no plans in the short term to support more states as we focus on the experience in the current states. With our Payroll Add-Ons you can still benefit from using Xero by using one of our integrated partners to manage your payroll.