As a small business owner we wear a lot of hats:
Think your good old spreadsheet or notepad is good enough to keep track of employees’ wages? Think again!
On 12 February 2019, the Parliament has passed the laws requiring all businesses use single touch payroll from 1 July 2019.
This means that from 1 July 2019 onwards, all businesses that employ staff, whether it is 1 or 100, are required to register for single touch payroll to keep track of their employee wages, PAYG Withholding and superannuation obligations.
There comes a time when you need to upgrade your current phone to a new one.
When upgrading phones, our focus is mainly on ensuring your precious photos are kept (or backed up elsewhere) and working out how to keep the contact details so you don’t have to add them back manually in your new phone.
For Xero users, there is one more thing to do before you ditch the old phone: disabling the Authenticator app properly for it to be set up on your new phone.
In recent years many desktop accounting systems started chasing after “the cloud” by establishing their online presence. Some are moving their software to the server/online environment, while the others completely revamped the look and functionality of their software to compete with other online software.
Cloud Accounting is the new, easy and efficient way for you to take control of your business paperwork and have more time to increase your profits or spend with your family. What will you do with the time you save?
In early September 2018 two of us went to XeroCon in Brisbane to learn about the new tips and tricks of using Xero to make it a better experience to our Xero clients. During the 3 intensive but fun days, we learned new ways to do things to improve business in general, such as ways to reduce the number of days for an invoice to be paid, new ways of using the Xero mobile app and more…
A summary of a handful of the new features that will be implemented are:
Complete revamp of Xero mobile app
– you will soon be able to view reports such as Profit & Loss account on your mobile app. Currently you need to log on to the desktop version of Xero to run the reports and see how the business goes. With the improved Xero mobile app business owners can see how well their businesses perform on the go.
– revamp of the invoicing module – Xero is moving towards a “code free accounting” meaning that Xero will take care of where the transaction be coded to so you don’t have to worry about it, making it easier and faster for you to prepare and email invoices out to customers – and get paid faster too with their new payment services (see below)!
– (iOS app users) ability to attach files directly from cloud storage and ability to use AirPrint – huge improvement for those who would like to attach photos to invoices and print out invoices to non-Xero clients.
Updates to Xero Business
– Email to bills – for those who keep track of bills on Xero, you have the option to email the PDF bills to Xero where it will create a draft bill to be approved. Xero is improving on this by using machine learning to extract information out of the bills and pre-fill them onto the bills – so you don’t have to!
– new API to allow all banks to integrate with Xero – we expect this will mean a simpler process in setting up bank feeds on Xero with any bank account.
– automatic bank rules reconciliation – a great time saver for those who set bank rules to help reconcile their transactions – instead of clicking OK on each transaction, soon you will be able to reconcile it all in just one single click!
– ability to preview invoice on both desktop and mobile version prior to sending them out
– Xero has partnered with Go Cardless to provide payment services through their invoices – this is similar to current payment services like Stripe and Paypal.
