Tag: Small business

Celebrating National Payroll Week – Why it counts

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It’s National Payroll Week in the UK – an initiative organised by the Chartered Institute of Payroll Professionals (CIPP). It aims to demonstrate the importance of efficient payroll to the economy.

Payroll is crucial in business management and employee satisfaction. If payroll processes are locked down and run well, businesses will flourish.

If they’re not, payroll can be an administrative nightmare, shifting the focus away from what business owners love doing. Whether you are an accountant acting on behalf of your client, or a small business owner managing the payroll yourself, here’s how the right payroll software can help:

For accountants:

Payroll management has historically been the bain of an accountant’s life. They know their clients don’t want to get employee wages wrong. By combining a smart payroll system like Xero Payroll with Xero, it’s far easier to get the job done efficiently, and quickly.

Xero Me is an employee app that works with Xero Payroll. You can track time, ..

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..

Single Touch Payroll: sorted in seconds

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With Single Touch Payroll (STP) in Xero, you can meet the ATO requirements with a few simple clicks. In fact, simplicity in action is what Xero’s STP solution is all about – just ask Chris Hooper, CEO of Accodex.

“STP is a piece of cake with Xero,” Chris says. “It’s easy to set up and the process is even easier to explain to clients. ‘Oh, is that it?’ is probably the most common reaction I encounter.”

To help make the transition into STP seamless, Xero has arranged automatic deferrals for employers who were required to use STP from the beginning of this financial year until 31 December 2018.

If you are required to report via STP and are not using it yet, the good news is that STP compliance has been made a whole lot easier with Xero’s latest STP product updates and ATO changes on employer authorisations.

Employer annual authorisations
In a welcome change, the ATO has simplified the authorisation process so that registered agents can now obtain a 12-month engagement authority to l..

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..