Xero Blog

One of your most important accounting jobs — bank reconciliation — relies heavily on getting accurate banking data into Xero. Yet entering bank transactions manually is often time-consuming and error-prone. Regular bank reconciliation not only saves you time, it also gives you a wealth of insights at your fingertips.

By now, you’ll be familiar with Single Touch Payroll Phase 2. This will see your business build on its existing STP reporting to share more information with the ATO and additional government agencies whenever you process a pay run.

eInvoicing is a new way to send and receive invoices electronically directly between accounting systems. How? It’s all done via a secure platform called the Peppol network. Not only does eInvoicing help facilitate faster payment times, but it’s also more efficient, accurate and – importantly – safer.

Get ready to switch to new reports If you haven’t made the switch to new reports, we urge you to start moving your work across now, so you have plenty of time to get used to them before the older versions are retired.

Last updated: 20 December 2022 In the 2022 budget announcement, Singapore’s Minister for Finance announced the GST rate will increase from 7% to 8% on 1 January 2023, and from 8% to 9% on 1 January 2024.

Over recent months, we’ve been keeping you updated on Xero’s Single Touch Payroll Phase 2 roll out. This will see your business build on its existing STP reporting to share more information with the ATO and other government agencies whenever you process a pay run.

It’s been a big year for reporting at Xero. We released a stack of exciting new features, introduced some brand new reports, and announced that we’re retiring the older versions of reports on 31 July 2023.

From late November 2022, we’re introducing a new safety measure for automatic superannuation (auto super) payments within Xero Payroll. This requirement will see new and existing customers connect an active bank feed to their registered auto super account. 

Last updated 7 December 2022 Hubdoc is one of our most advanced tools to capture bills and receipts, get the data into Xero and easily reconcile the transaction. We’re always looking for ways to automate this process, to help you become more efficient in your business or practice.