Tag: Platform

Exploring The Future of Global Payments

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The ability to seamlessly move money has always been at the core of our economy. It enables the exchange of value, makes it possible to build new businesses, and fuels long-term growth. It’s been with us, in one form or another, since the very beginning of civilization. In 9000 BC, people traded grain, cattle, and jewels. A generation ago, people relied on cash, cheques and paper invoices. Today, we have credit cards and mobile wallets such as Apple Pay.

The technology underpinning money movement has changed, but the fundamental needs of business owners have remained consistent. There are four key things that all business owners want to know: How much money do I have? Who do I owe? Who owes me? Am I making a profit?

At Xero, we’re always working to help our customers answer these four questions quickly and easily, so they can make informed decisions about what is right for the business. One of the most important ways we do that is by continuing to strengthen our open platform and pa..

Helping Small Businesses and Advisors Do More With Data

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Advances in technology are increasingly making data the most important resource a business has at its disposal. Artificial Intelligence and Machine Learning features are increasingly leveling the playing field by giving small businesses, accountants and bookkeepers the ability to leverage data in ways that were previously available only to larger companies.

We believe that giving our customers control over their data is one of our most important responsibilities. One of the key ways we deliver on this is through secure, direct bank feeds, which automatically import transactions from a customers bank or financial institution directly into a Xero organization.

Direct feeds eliminate the need for manual data entry, and even more importantly, make it easy for a business to see a complete picture of their business’s finances within Xero. By accessing and presenting this data in a seamless way, customers and their advisors can more easily answer essential questions such as, ‘is the busin..

Solving compliance for the UK with Instafile for accounts preparation and tax

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We were excited to announce at Xerocon London the acquisition of Instafile. This accelerates our development of accounts preparation and tax filing within Xero, connecting the ‘last mile’ between our platform in the UK and HMRC.

Instafile will automate the process of tax filing and financial reporting in the UK for Xero partners, seamlessly connecting Xero directly to UK compliance bodies, including HMRC.

What does it mean for me and my clients?
Combined with the launch of our Making Tax Digital for VAT open beta functionality, we’ve set out to provide valuable direct tax filing functionality for accountants to manage for their clients in the UK.

In keeping with our passion to grow small businesses by connecting them with advisors who are fully equipped to support them, we’re including these new capabilities within Xero at no charge to our Xero partners.

Toby Woodhead, Solution Architect at Xero platinum partner firm Armstrong Watson – who has been supporting Xero with the developm..

When connecting CCH and Xero Tax makes sense

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This is a guest post by Lisa Kim, a Tax & Accounting Product Manager from Wolters Kluwer.

We understand that each practice has different needs and when it comes to choosing software, there’s no one-size-fits-all solution. But now, with a closer partnership between Wolters Kluwer and Xero, you’ve got more options than before.

Integrations between Wolters Kluwer and Xero
Wolters Kluwer provides a number of integrations with Xero Tax:

CCH iFirm Practice Manager and Xero Tax
CCH iKnow and Xero Tax
CCH iQ and Xero Tax (for early 2019 release)
If you’re looking to take advantage of the efficiency gains from these integrations, contact Wolters Kluwer and ask about their year-end promotion or speak to your Xero account manager.

CCH iFirm Practice Manager and Xero Tax integration
In three clicks, you can connect CCH iFirm Practice Manager to Xero Tax and take advantage of the extensive job management and reporting tools in CCH iFirm Practice Manager while seamlessly creating and lodging t..

Integrating with CCH to Save Accountants Time This Tax Season

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With tax season around the corner, we’re excited to announce the launch of a new integration between Xero and CCH Axcess Financial Prep.

The new API integration eliminates the need for tax and accounting professionals to manually export, import or enter data. By automating the flow of data, we’re working to save accountants time on administrative tasks so that they can focus on providing insights and advice to their clients.

Xero already makes tax prep more efficient and accurate with key features, including:

Cash Coding: Xero makes it easy to rapidly code a large number of transactions. Accountants can quickly process a whole year’s worth of bank statements in a single operation. Cash coding is especially valuable for accountants working with clients they only interact with once a year at tax time, as well as new clients.
Find and Recode: this feature allows accountants to update thousands of line items at once. This means accountants can quickly find and then fix incorrectly co..

Building a Platform to Tip the Balance in Favor of Small Businesses and Advisors

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Data is the currency of the 21st century economy. In our deeply connected, internet-driven economy, every interaction produces some sort of data. The biggest tech companies of our age — from Amazon to Apple to Google — have succeeded by building platforms that leverage data to deliver new products and services.

Data-driven innovation will only accelerate in the years to come. Headlines continue to flash bold predictions about a future in which technology that relies on massive data sets, such as AI and machine learning, will increasingly dictate the way we work, communicate and consume.

It’s clear how tech giants will continue to thrive in this new world. But what about the rest of the economy? How will small businesses — and the people who support them, such as accountants and bookkeepers — come out ahead?

At Xero, we’re hard at work building a platform that is tailor-made to deliver on the promise of leading-edge, data-driven technology on behalf of small businesses and their advi..

Predictions for small business technology in 2019 from Xero app partners

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As apps get smarter, so too do their users. Technology doesn’t just revolutionise small business – it guides the way we interact with customers, their data, and influences their decision making.

For those embracing emerging and existing technologies, 2019 will see SMBs ramping up demand and internal capabilities in reporting, cash flow and bundling for app solutions.

We spoke to some of our high growth, high performing app partners to see what tips, tricks and trends your small business or advisory practice needs to know about in 2019.

Your single source of truth can be anywhere
With reports that the average enterprise uses over 1,900 cloud services (up from 1,427 in 2016), Bear Douglas, Director of Developer Relations at Slack, predicts we’ll see an increased demand for easy interoperability between more cloud services.

“Imagine you’re a marketer working with design and data science on a large-scale campaign. Your design team will need to use specialised software to create visua..