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We’re excited to announce that partnership tax has arrived in XeroTax. You can now manage most of your clients’ tax needs – corporate, personal, and ordinary partnerships – in one simple, secure platform. Your practice can now gain all the benefits of XeroTax across your ordinary partnership clients.
The next phase of Making Tax Digital is coming. In April 2026, Making Tax Digital for Income Tax (MTD for IT) will be introduced, and its set to shake up the record keeping, reporting and tax requirements for self-employed people and landlords. MTD for IT filing will be available in all Xero business plans.)
Welcome to our monthly roundup of what’s new in Xero. This month, we’ve introduced updates designed to help you to get paid faster, streamline tax rules and regulations compliance, and manage your sales tax with ease. These are just some of the updates that have rolled out in Xero this month.
We’re kicking off the new year with some exciting Xero updates designed to address some of the enhancements youve been asking for, and make things more automated to save you time. Xero automatically creates draft bills with key details, with the original document attached ready for approval.
We also heard your feedback, and so now you can automatically prepare partnership annual accounts and tax returns using Xero data and seamlessly file them with HMRC (read more in the previous edition of Whats New). You can access the option to include or exclude accounts with zero balance or activity feature via the More button.
With another tax year almost wrapped up, are you ready to tackle year-end payroll? Finalising your 2024/2025 tax year Wrap up outstanding items Before processing your last pay run for the 2024/25 tax year, approve any outstanding leave requests, timesheets and overtime to ensure your employees’ final pay is accurate.
Ellie Redfern , Enterprise Account Manager at Xero, recently spoke with Symon Barkway , a partner at the Xeinadin Sittingbourne office and the area managing partner of the North Kent region, on his journey with Xero and why he’s passionate about helping other accounting firms embrace change. Xero does everything well.
It’s part of Malaysia’s broader digital transformation strategy to promote transparency, reduce tax evasion, and improve the efficiency of financial processes. Cloud-based accounting solutions like Xero offer seamless e-invoicing capabilities, ensuring compliance with new regulations. Ready to embrace e-invoicing?
You win, or you learn – that’s one of Tennick Accountants’ internal mottos, and one that encouraged the firm to put themselves in the running and enter the 2023 Xero Awards UK & Ireland. What we have done over the last 12 months, which ties back so much to the values of Xero, has been incredible.
In last month’s edition we shared how we’re making it easier for you to navigate and tab through fields in invoicing , and in July we rolled out the ability to toggle payment methods on and off in your payment settings without leaving Xero. This allows for more precise tracking and more accurate leave accruals.
If you have a Xero Premium plan and have added a foreign currency to your settings page, then you can jump in and give it a go. Check out our reporting playlist on YouTube , visit the tips and tricks panel in our most used reports, or reach out to the team at Xero Central if you need support.
That’s why we have prepared some resources to guide you through a frictionless payroll year end, and be ready for the start of the 2023/24 tax year. We have also introduced a new checklist within Xero Payroll to streamline your tasks and make it easy as we approach year end.
Sempar Accountancy and Tax have been crowned the Xero Mid-size Firm of the Year at the 2023 Xero Awards for UK and Ireland. As a 100% Xero practice, Sempar is able to maximise the benefits of Xero’s software and other integrations for their clients. says Aludia. “It’s Congratulations again!
This EOFY in Xero Payroll will be slightly different than previous years. Check your employees’ records As part of STP Phase 2, there are key compliance requirements that affect the way employees are set up in Xero. These requirements involve changes to details in the Employment and Taxes tabs.
It’s often said that (almost) no one goes into business to do their own accounting. So it’s no surprise that many entrepreneurs lean heavily on a trusted advisor for support, particularly around busy times like EOFY when tax, compliance, payroll and other business obligations come into play. What Xero tip would you add to this list?
I’ve really missed the opportunity to connect in person with our amazing accounting, bookkeeping and app partner communities — especially on such a large scale. Our teams have been working hard behind the scenes on Xero Go for some time now, and it’s great to launch the early release in the UK with more features coming soon.
It’s all part of our work to connect our practice tools, so that in the future, as you manage your clients’ tax obligations in Xero, the data flows seamlessly into our practice management tools. This will help you work more efficiently, collaborate with your clients more effectively, and manage everything for your practice within Xero.
Completing your EOFY is better off on Xero. Check your employees’ records As part of Single Touch Payroll (STP) , there are key compliance requirements that affect the way employees are set up in Xero. For more details on reporting categories, check out our guide in Xero Central.
The annual Xero Awards is a particularly special night for us at Xero. It’s a chance for us to show our appreciation and admiration to the many incredible accounting, bookkeeping, and app partners in our community. With the support of a strong community, many firms have been able to turn these challenges into opportunities.
I’m delighted to announce that Xero has partnered with Parolla , to offer Xeroaccounting and bookkeeping partners and small business customers a free VAT solution, enabling you to easily prepare and generate revenue-compliant VAT3 returns for direct upload to Revenue Online Services (ROS).
We know it’s not enough to just create really #beautiful accounting software – we also need to teach you to use it. Spending time educating yourself on Xero can help you get time back once you’ve built up your confidence. . You probably know by now that when you have a question about Xero, Xero Central is your first stop.
We’re excited to be coming to a city near you with the Xero UK Roadshow, bringing you the latest updates in Xero. Whether you’re new to Xero or a seasoned expert, there’s something for everyone. Why not bring your team with you to experience being part of the Xero community? It’s a win-win all round!
Here’s what we’re doing to make it easy for you to manage this change in Xero. We’ll make the new 8% rate available in Xero by 9 December 2022. There are a number of areas where you can set default tax rates in Xero. This includes your contacts, your inventory items, and accounts in your Chart of Accounts.
For accountancy firms, growth is extremely welcome but not without its challenges. Davenports Accountancy , founded over 20 years ago by Scott Davenport with partner Jason Davenport, who heads up the separate marketing division, has enjoyed a period of rapid growth. . Challenging times. The right solution. Everything connected.
If you’re an accountant or bookkeeper, it can save you time chasing documents and manually entering data. Refreshed partner portal We’ll be updating the Hubdoc partner portal soon, which helps accountants and bookkeepers easily find and manage their clients’ documents.
We’re incredibly excited to share that Baker Tilly Canada has achieved Xero’s Platinum Partner status, which demonstrates the audit, tax and advisory network is helping to lead the way with the future of cloud accounting in Canada. Learn more about Baker Tilly Advantage’s next-level cloud accounting here.
At Xero, we are committed to helping Singapore small businesses simplify their accounting processes. And this is why we are thrilled to announce that you can now submit your GST F5 returns quickly and directly from Xero to IRAS in one click, making the filing process simpler. Save time and file accurate tax returns.
This year’s US Roadshows were nothing short of inspiring, with accounting, bookkeeping and app partners showing up from all over the country to attend our events in Austin, Atlanta and Los Angeles. Over time, we plan to expand this functionality across other areas of Xero. Here are a few of the highlights.
Xero continues to grow in the US and Canada, and it’s important that we continue to seek feedback from our partners and advisors on how best to meet their needs. We recently hosted our US Xero Partner Advisory Council (XPAC) meeting in Denver to hear from our valued accounting and bookkeeping partners about what matters most to them.
In my role as GM of Xero Go, I speak with sole traders, accountants and bookkeepers and have learned so much about the ups and downs of running a business solo. With all that in mind, this is why we created Xero Go, a free to download mobile app that helps ease the financial admin burden of running your own business.
When it comes to manual tasks, there are few that are more burdensome than sales tax. Automate your sales tax calculations in Xero Auto sales tax brings advanced sales tax management directly into Xero, helping you automate sales tax calculations, reporting and filing. But we have some great news.
Our Xero Small Business Insights report shows embracing digital tools can help small businesses accelerate their growth. . This is where the new Xero App Store comes into play. Complex approval processes can hold up your accounts payable and receivable. Streamline your workflow by automating your financial approval processes.
Last year, we announced that we had started upgrading the technology that underpins the Xero platform, so our teams can build new features faster than ever before. Today, we’re excited to share that we’ve hit a significant milestone on that project when it comes to reporting in Xero. Start unlocking more value from your reports.
From April 2024, self-employed people and landlords earning over £10,000 annually, will need to follow Making Tax Digital for Income Tax Self Assessment (MTD for ITSA) rules. . As an accountant or bookkeeper, you will need to prepare yourself, your clients, and your practice for these changes. Four quarterly updates .
This is a guest post by accountant Daniel Hardy of Xero Platinum Partner firm Caveo Partners. Recently, Caveo Partners was named the best boutique firm of the year at the Australian Accounting Awards. . Your accountant or bookkeeper. . How often should I see my advisor at tax time? .
We’ve made some great progress towards creating a single source of truth for your client data across Xero Practice Manager (XPM), Xero HQ and XeroTax. Here are our latest updates and what they mean for accountants and bookkeepers in Australia and New Zealand.
With another epic Xero Awards evening behind us, it’s time for us to reflect on the success of our accounting and bookkeeping community. We were thrilled to award the Sole Practitioner of the Year award to Joan Adams of Adams O’Rourke Accountants. Congratulations, Adams O’Rourke!
Payroll year-end sees a business wrap up the tax year for payroll purposes. Youll also need to issue P60s to your employees and make any adjustments to tax codes for the new tax year. This is in contrast to your usual payroll which happens every payday usually weekly or monthly rather than just at the end of the tax year.
We’ve made a number of enhancements to the Xero platform in the last month, including updates to quotes, reporting, Xero Analytics Plus, WorkflowMax and more. The details will also integrate into Xero, if you use it. Tailor your business snapshot in Xero Analytics Plus — Global. Reimagine your Xero experience — Global.
From pandemic restrictions to Making Tax Digital (MTD), hospitality businesses have had to stay agile and adapt to many changes in the past few years. In this guide, we’ll look at what the government’s Making Tax Digital initiative means for your hospitality business in practical terms. A closer look at MTD for hospitality.
Accountants and bookkeepers can help businesses be more sustainable. Most importantly, accountants can remind clients that they can be sustainable businesses if they operate with sustainability as the underlying principle in everything you do. First, for policy, it means a progressive extension of HMRC’s Making Tax Digital (MTD) work.
*Please note that while the process remains the same, all references to XeroTax are applicable to Australia and New Zealand only. One of the most important ways we’re helping you save time and grow your practice is by moving towards a future where Xero Practice Manager (XPM), Xero HQ and XeroTax will be seamlessly connected.
The team at EOG Accounting , a solely Xero practice based in North Wales, understands the need to meet business targets, but also to make a positive impact whenever possible. . We speak with Rhys Edwards, founder of EOG Accounting, to learn more. . Which is to try to do some good on this planet before we leave it. .
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