It’s been a huge year for Xero with 2011 looking like our biggest yet. We thought for Christmas we’d give you a sneak peek into another of the big projects we’ve been working on.
Xero Payroll is shaping up well and is due for release early next year.
Wages and salaries are the largest expense for many businesses, so sending detailed cost information from a pay run straight into the accounting ledger gives business owners a much better understanding of where the money is flowing. They can then prepare for the deduction of large expenses and the likes of superannuation payments.
This video previews how Xero Payroll will work:
Xero Payroll is ideal for small businesses that still run their payroll manually. With Xero Payroll you create your template payslips to use each week and easily copy previous pay runs for faster processing where the amounts don’t vary much. We’ve introduced a ‘payroll admin’ user, so only people with this access can see the detail of a pay run anywhere in Xero, and there’s also a new employee contact for pay transactions.
Xero Payroll complements our existing payroll partners who take the payroll process a few steps further to include automated tax calculations, leave accrual and other payroll specific functions. Over time we envisage these partners will continue to build out on Xero’s core payroll features and provide other valuable services such as self-managed employee kiosks.
Xero Payroll is included free in our business editions, and users of the Xero Small plan will be delighted to know that invoices created by our payroll function, to post amounts into the ledger, won’t affect invoice limits each month.
Managing payroll is a big chore so we want as many people as possible to get off manual systems.
Stay tuned for this release in 2011.