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Noodle Live: Embracing creativity and innovation

This World Creativity and Innovation Week (15th – 21st April), Clemi Hardi, Head of Pencils at London-based event technology company Noodle Live, tells us how creativity and innovation helps improve the event experience for her clients’ customers.

Clemi

World Creativity and Innovation Week is a week focused on encouraging people and businesses to get their creative juices flowing and make the world just that little bit better. If you could do anything, what would it be and how would you do it?

As an event technology company, Noodle Live has always embraced innovation and creativity. It’s ingrained in everything we do. The seed of our business came from a desire to innovate and offer a better solution to the established norms. Our RFID enabled smart badges are now disrupting the events industry, enabling people to collect, share and store information easily in ways that they couldn’t previously. And that’s a direct result of not being happy with the status quo.

For Noodle Live, creativity is really important. It’s an ability to look at problems and challenges in new ways, and that’s what we’re all about. Technology is sometimes lambasted for killing creativity, but this is certainly not our experience. We find that it can in fact unlock the creativity that may lay dormant within us. Our clients and end users, motivated by using our event technology, regularly create new use cases for us as they realise the potential of our event tools.

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Save on foreign currency payments with TransferWise and Xero

UK and US small businesses can now avoid hefty hidden bank fees when paying foreign currency invoices thanks to a new integration between TransferWise and Xero.

Using TransferWise, a London-based foreign currency transfer business, small businesses can now save up to 89% when sending foreign currency invoices directly from Xero. Avoiding hefty 3-6% commissions from banks, businesses are offered a fair mid-market exchange rate and charged a small, transparent fee of no more than 0.5%.

How does TransferWise work with Xero?

Xero customers can sign up and log in to TransferWise to see their outstanding foreign currency invoices on Xero. They can then select the invoice they want to pay using either a bank transfer or debit card through the TransferWise system.

The exchange rate at the time of the transfer is locked in for 24 hours and the user will need to pay the amount to TransferWise during that time. Payments typically arrive within 1-2 business days. Users will be notified via email that the money is on its way, and after the payment is completed, the bill is then reconciled onto the user’s Xero dashboard.

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Growth is the name of the game

In this guest blog, Laura Beatrix Green from MarketInvoice discusses the challenges of growth, how to avoid them and how those unexpected happenings can be the making of you. 

Recent years have seen record levels of new business start-ups in the UK, meaning there are hundreds of thousands of new entrepreneurs looking to make their venture a big success. The relative strength of the UK economy means this is a great time to be growing a business.

Investing for and managing rapid growth creates different challenges for all businesses, but there are some basics that apply universally. For many business owners, growth isn’t a priority. For some it isn’t even a distant wish. They’re happy with a comfortable stasis that pays the bills and brings in a nice income. For others, growth is the name of the game, follow these tips to avoid the pitfalls that could accompany your success.

market invoice

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Podcast with Financially Insecure Entrepreneur

At Xero, we rarely make references to being “financially insecure.” Mainly because we love to focus on the positives of well-organized and balanced business financials. But for the Financially Insecure Entrepreneur (FIE) podcast, we made an exception – and joined as a guest speaker.

Leading the charge is our very own Arthur Garcia, Regional Sales Director. Arthur sat down with Xero Partner Michael De Lucia of De Lucia + Co. to discuss the value of online accounting.

And not to overstate this – but this is so cool! Financially Insecure Entrepreneur is a popular resource in the small business community and a great example of how an accountant is educating his audience.

Take a listen as Arthur puts on his (smooth) radio voice and chats about all things Xero, including:

  • Is the cloud safe?
  • Can you really automate bank feeds?
  • What does anytime, anywhere mean?

Listen to Arthur’s Financially Insecure Entrepreneur podcast

Speaking of podcasts, did you know that Xero has a podcast? Yes we do. Please give it a listen and let us know what you think.

 

Quick tips for keeping a closer eye on your inventory

If you hold items to sell on to your customers, you’ll know that efficient inventory management is the lifeblood of your business. Lose track of your items, or fail to keep up with customer demand, and you’ll feel it on your bottom line. So here are some tips from Grant Anderson, Xero’s Head of Accounting, on how to stay on top of your inventory management:

  1. Get organised

It could well be time for a cleanup. Take this opportunity to look at the items you have and delete old lines, write off stock and also review your pricing. You can use the inventory template that’s available for you in Xero to start listing your items.

  1. Think about your inventory handling process from purchase to sale

Are there some steps that  can be eliminated by using a single ledger, cloud based application? Map each step and see where you can create some efficiencies to save time.

  1. Track your items and monitor your quantity on hand

Run regular reports to monitor your stock levels so you never run out of those high moving items you know your customer will always want.

  1.  Pricing

Take some time to review your buy and sell price for each item. Get a feel for what the current market rates are for your type of item (so that you can remain competitive and don’t price yourself out of the market). If you use Xero, you can easily run reports to review your pricing information.

  1. Connect with a Xero Advisor

We have a pool of skilled Xero advisors who are only too happy to get you started using inventory in Xero.

If you’re in the manufacturing industry or have large quantities of items with multiple warehouses, your advisor can also work with you to select the best add-on inventory product to suit your needs. Find your nearest Xero Advisor.

 

Helping the world while Xero handles the numbers

Daniel Flynn and his team have a lot to be thankful for. Rising brand fame, an expanding product range, and numerous endorsements and accolades. All this from an idea they had in university — Thankyou Group.

Through all that, the group has stayed true to the vision that kickstarted the whole Thankyou movement. To fund and facilitate water, food, hygiene and sanitation projects for people in developing nations.

“We’re driven by helping people who are in need by making a positive and enduring impact on their lives. And to date we’ve raised over $2 million for our programs overseas. We’ve helped over 132,661 people get access to safe water, and we’ve helped over 153,507 people get access to health and hygiene training. Plus we’ve funded over 5.2 million days’ access to food aid,” said Daniel, co-founder and Managing Director of Thankyou Group.

While these numbers are the lifeblood of the Thankyou business, they aren’t the only ones Daniel and his team need to keep a keen eye on.

Keeping track of the numbers

As a business with stakeholders both in Australia and abroad, the team count on Xero when they’re away from their head office in Collingwood. They need to track their profit and loss, balance sheets, superannuation, expenses and overall business finances, even when they’re overseas. Continue reading ›

 

US tax time countdown

It always happens, every year, just like clockwork.

You roll up your sleeves at the start of tax season and prepare to take on the rush. But by April, you’re face-to-face with loads of outdated QuickBooks files, clunky Excel sheets and the dreaded shoebox of receipts. It’s enough to make you loopy.

Chin up! Xero has you covered.

How Xero helps at US tax time

Save your sanity these last two weeks with five Xero features that take the pain out of tax prep:

  • Automatic conversion. Break the habit of fixing neglected QuickBooks and Excel files by automatically converting clients to Xero. Free, and found inside Xero Partner Edition, this conversion tool helps you dive into write-up work – fast.
  • Xero Files. Bid the shoebox bye-bye. Scan source documents directly into your client’s GL for all-in-one access with Xero Files. And if you have dual monitors, put Xero Files on one screen and Quick Spend Money on the other for fast data entry.
With Xero, US tax time is a breeze – and you can say goodbye to shoeboxes... or itty litter boxes... filled with receipts!

Yep, there are clients who keep receipts in a litter box.

  • Cash Coding. Talk about a time-saver! Cash coding lets you reconcile hundreds of transactions with a click.
  • Journal entries. Create adjusting journal entries, single or repeating, to balance the books manually.
  • Export to tax. Great for Schedule C clients, export client data to TaxACT, Lacerte Tax, ProSystem fx Engagement or CSV.

Partner exclusive plans

Despite the rumors of tax work being seasonal, keeping clients compliant is a year-round job. That’s where Partner plans like Cashbook ($12/month) and Ledger ($3/month) come into play. Perfect for tax clients, these low-cost versions of Xero help attract new clients and keep them organized throughout the year .

Find out more about Xero for tax work

 

Why you need online accounting

Today’s guest author is small business and finance expert, and co-host of Sunrise, David Koch.

I’m a huge fan of new technology David Koch believes online accounting improves businessand the ease and flexibility it brings to work. I can video call in to Port Adelaide executive meetings, bring up the latest finance figures on my tablet for Sunrise and access my small business’s accounting files from the couch.

So you can understand why I’m so enthusiastic about new technology. This is also why I say that your business really needs to consider an online accounting system if it’s not using one already. Here’s why.

Peace of mind

I don’t want to scare you, but all it takes is one office disaster and your files are compromised. A dodgy employee, fire, flood or break-in and you’ve got a problem. Hard copies of old accounts are often irreplaceable, and a lot of the time businesses don’t fully recover from disasters for this reason.

Using online accounting gives your business access to the latest software and data security that’s safer than the lock on your front door. Simple as that.

Incredible convenience

Having the books in the cloud means our accountant can log in to her work without coming into the office. We can keep a finger on the pulse with staff raising invoices and expenses as they need to. It also lets everyone run project numbers when they’re on the road.
Being able to check accounts and invoices from anywhere is invaluable for businesses that aren’t office based like tradies and others on the road all the time. It’s like having an office in the palm of your hand. Continue reading ›

 

UK Payroll now available to pay employees and report to HMRC

Following on from last weeks huge #xerospeed week, Xero with all the time-saving features you need for your business now includes payroll.

Buy or upgrade to Premium 10 before May 1st and pay just £25 per month for 12 months. This includes all the Xero features you know and love and now payroll for 10 employees. One price for all your accounting and payroll needs.

Transactions from payroll seamlessly flows through to and impact the accounts immediately – the way it should be with payroll transactions represented as journals. This impacts the Profit & Loss and Balance Sheet, reflecting the impact of the approved payroll immediately in your accounts.

Payroll in Xero was enabled earlier in the month and from April 6 you can use Xero to pay your employees and stay up to date with your tax filing and payment obligations with HMRC. RTI filings happen automatically, employees can self-service using the online employee app and lots more.

We’ve created a series of videos to help you get started in Xero U. Step through the setup process and learn more about Payroll in Xero.

You will not be able to use Payroll in Xero to manage your end of year processes for the 2014/2015 financial year. You should complete your final submission and employee P60s in your current payroll software. Continue reading ›

 

Process, Pay and File with New Zealand Payroll

Following on from the huge #xerospeed release week, Xero with all the time-saving features you need for your business now includes Payroll. From April 1st you can process your payroll and pay your employees using Xero.

Transactions from payroll seamlessly flows through to and impact the accounts immediately – the way it should be with payroll transactions represented as journals. This impacts the Profit & Loss and Balance Sheet, reflecting the impact of the approved payroll immediately in your accounts.

By using Payroll in Xero to manage payroll yourselves you stay in control of your cashflow at all times. Xero will never take money out of your account so we don’t require a letter of credit. We provide you with the bank files you need to pay your employees and information required to pay the Inland Revenue. You make these payments yourself directly.

We’ve created a series of videos to help you get started in Xero U. Step through the process and learn more about Payroll in Xero. Continue reading ›