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What’s new in Xero – September 2024

Xero

This allows for more precise tracking and more accurate leave accruals. You can download your historic RTI submissions from the RTI filings table in payroll. You can now specify a work pattern of up to two weeks in length for employees, which gives you more flexibility in defining their working hours.

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Latest product news — October 2022

Xero

In the weeks ahead, you’ll be able to filter transactions by accrual date, and use the new uninvoiced amount column to help you stay on top of your project cash flow. This secure e-signing solution allows clients to easily view, download, electronically sign and return documents to their accountant or bookkeeper — all within Xero.

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Steps to ensure a seamless EOFY in Xero Payroll

Xero

Process any outstanding superannuation payments To claim a deduction on superannuation accruals submitted via auto super for the current financial year, super batches should be approved no later than 2:00pm AEST, 14 June 2023. Be sure to check that all of your pay runs have been filed to the ATO successfully using STP.

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Bookkeeping Cleanup Checklist: Six Steps to Get Caught Up

Less Accounting

Download, print, or screenshot all receipts and file them physically or electronically somewhere like Google Drive. There may be circumstances where you need to manually adjust entries to account for accruals, depreciation, or amortization. Start by going through your email. Now is a great time to call in the professionals!)

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Speedway Motorsports Discovers the Horsepower of AvidXchange’s Accounts Payable (AP) Automation Software

AvidXchange

Accruals in particular posed a hurdle, requiring a day and a half to gather data via paper purchase orders (POs). The accrual process is really one of the heavier, more labor-intensive processes during month-end close. In addition, Speedway Motorsports has shortened its month-end PO accrual process from a day and a half to 30 minutes.

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Free Excel Bookkeeping Templates to Keep Your Books in Order

Jetpack Workflow

For businesses using the accrual method of accounting, it means double the work, entering data twice for every transaction. Once you have the correct entered data, you can generate and download key financial reports like cash flow and profit and loss statements with year-to-year comparisons for data analysis. Run payroll.

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Here’s How a Leading Credit Union Streamlined Accounts Payable Processes and Divorced Paper

AvidXchange

Integration was important because we need to easily run system reports without getting bogged down with separate spreadsheets, downloads, or conversions. They also implemented AvidPay, AvidXchange’s payment automation software. The AvidAscend solution seamlessly integrates with the MDT-hosted Symitar Episys platform relied upon by LAFCU.