Product wrap from Xerocon Sydney 2022

Any method you slice it, the previous two years have examined us all. None extra so than you all — our valued accounting and bookkeeping companions — who’ve helped your shoppers navigate a digital acceleration and shift their enterprise fashions to outlive (and thrive). 

As we speak at Xerocon Sydney, we had been in a position to rejoice what we will obtain after we work collectively to assist small companies throughout Australia and New Zealand. Should you missed it, right here’s a recap of the product highlights.

Simplifying folks processes with Xero and Planday

We launched our Altering world of labor experiences for Australia and New Zealand, which shine a lightweight on the workforce challenges that your shoppers face, the office experiences of their workers, and the vital function of know-how on this altering world of labor.

The experiences discovered that small companies are struggling to remain on high of necessities round worker entitlements and funds, with round half agreeing that it’s demanding and complicated. Actually, 37% of small companies in Australia and 29% in New Zealand are anxious their employees shall be paid incorrectly as a consequence of complicated payroll obligations.

Our suite of worker administration instruments at Xerocon — together with Xero Payroll, Xero Me, and Xero Bills — make it simpler for employers to handle their workers, giving them the instruments they should create an empowering and constructive expertise, which helps them entice and retain expertise in an more and more aggressive surroundings. 

We had been excited to launch a brand new beta trial of Xero Payroll plus Planday at Xerocon. The Planday beta is offered now for eligible small companies utilizing the Retail and Clerks Awards in Australia. This integration will empower your shoppers with seamless scheduling of time and attendance, to allow them to get pleasure from correct payroll information and compliant rostering.

We additionally showcased our recently-added begin, finish and break instances performance within the Xero Me app. This function helps your shoppers seize correct worker timesheets, save time on guide processes for a quicker pay run, and assist timesheet record-keeping necessities.

Managing Australian payroll within the digital economic system

With Single Contact Payroll (STP) Section 2 on the horizon for our Australian prospects, we dived into the instruments we’re constructing in Xero to make it straightforward so that you can meet the brand new STP Section 2 submitting necessities. Don’t neglect to go to our STP Section 2 portal inside Xero Payroll to grasp and motion the steps to transitioning your follow.

One other compliance replace we shared with advisors at Xerocon Sydney was one in every of our most extremely requested options: payroll historical past. We shared the primary section of this new function — worker data — and defined the way it will aid you determine, audit, and reconcile your shoppers’ payroll shortly and precisely. 

Serving to your shoppers keep away from the money circulation crunch

Money circulation continues to be a problem for small companies throughout Australia and New Zealand, with our newest Xero Small Enterprise Insights report discovering that 92% of small companies in Australia and 95% of small companies in New Zealand had at the least one month of adverse money circulation — or ‘money circulation crunch’ — in 2021. 

At Xerocon Sydney, we shared some instruments to assist your shoppers handle their money circulation. These included a brand new pilot that may floor your shoppers’ GST and PAYG figures from their BAS, to allow them to see them of their short-term money circulation projections. A second beta that’s coming quickly to Xero Analytics Plus will predict invoice and bill funds, together with people who come from our app companions, making our short-term money circulation forecast extra correct.

Getting fast entry to solutions in Xero

We shared some new updates in Xero that may aid you shortly discover the knowledge you want. In Xero Follow Supervisor, our redesigned job supervisor will make it straightforward to seek out and handle jobs with sorting, filtering, in addition to updating the precedence and state straight within the desk. You may get early entry to the new-look job supervisor by signing as much as the Xero Insiders’ Program.

There was lots to share in reporting too — together with some new options on the way in which, together with:

• a brand new instrument that will help you deliver saved layouts from outdated Revenue and Loss and Stability Sheet experiences, throughout to the brand new variations
• the choice to mechanically group accounts based on their account code
• a beta that encompasses a visible chart within the Bills by Contact report, to assist your shoppers perceive their information
• the power to use default settings throughout all experiences in an organisation, similar to whether or not experiences are on a money or accrual foundation
• upgraded variations of extra experiences, together with Financial institution Reconciliation, Normal Ledger, and Journal experiences
• international foreign money columns and disclosures in new experiences

It was nice to share all of the methods we’re supporting you as you put together to make the change to new experiences earlier than the older variations are retired on 31 July 2023.

Harnessing the facility of group

There’s one thing actually particular about our companion group and I’ve little doubt that we’re a greater enterprise after we work carefully with you on merchandise which can be smarter, less complicated and extra seamless than ever earlier than. Thanks as all the time for every part you do, and please get pleasure from the remainder of Xerocon!