Tag: cloud

payroll

Xero Payroll plan updates

Posted on | by Allan Hall

Payroll reinstated to Xero business plans

Payroll and auto super upgrades for Xero Ignite and Xero Grow

Xero has announced that Users will soon be able to pay one person on the Xero Ignite plan (as you could on Xero Starter) and two people on Xero Grow (as you could on Xero Standard). You’ll also be able to process automated super payments on both plans.

What this means for Xero Users 

If you were on Xero before July 2024:

  • If you’ve already moved to either the Xero Ignite or Xero Grow plan and would like to stay on it, there’s nothing you need to do.
  • For those moving to either the Xero Ignite or Xero Grow plan in July 2025, Xero’s current timing stays in place. However, the changes to Xero Ignite and Grow will come into effect before then, so you’ll have the option to switch sooner.   
  • If the enhanced Xero Ignite or Xero Grow plan is a better option for Users than moving up a plan, you can switch plans when Xero alerts you that payroll changes to the two plans are live. The flexibility is yours.

If you joined Xero after 1 July 2024 and you’re on the Xero Ignite, Xero Grow or Xero Comprehensive plans, you may want to take advantage of the changes Xero is making that will allow Users to pay more people on the Xero Ignite and Xero Grow plans.

Xero will reach out to Users directly in coming months once the enhanced plans are available.

CONTACT ALLAN HALL BOOKKEEPING

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invoice

Xero retires classic invoicing 27 February 2025

Posted on | by Allan Hall

What you need to know

  • On 27 February 2025 Xero will start to turn off access to classic invoicing, and the new version of invoicing will be the sole invoicing experience in Xero
  • The exact time may vary, so during this transition they advise against using classic invoicing to avoid the loss of unsaved changes to draft invoices
  • Xero Users won’t lose any historical, saved draft or repeating invoices
  • Xero Users can access all previously stored invoices via the Invoice List page in Xero, and from 27 February, they will open in new invoicing.

Features and enhancements recently released

  • Attach a file to invoices by dragging and dropping anywhere on your screen
  • Enter dates efficiently including easy access to calendar picker and new keyboard entry options
  • Use new keyboard shortcuts to quickly save or approve an invoice
  • Manage inventory easily by viewing stock on hand in the quantity cell for tracked inventory
  • Set a currency exchange rate for an invoice
  • Create and use new tracking options when editing invoices to see how different areas of your business are performing
  • Send invoices to customers via SMS and get paid up to three times faster (available with Stripe).

Get up to speed on Xero

At Allan Hall, we are committed to providing tailored bookkeeping solutions that are comprehensive and long term, freeing up your time so you can focus on running your business. Whether you need support to manage your cash flow, forecast income and expenditure, or simply provide more detailed financial reporting, our highly skilled team of bookkeepers will assist you to ensure your business is operating as planned. Read more »

CONTACT ALLAN HALL BOOKKEEPING

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Xero Transitions to New Invoicing System from September
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Xero Transitions to New Invoicing System from September

Posted on | by Allan Hall

Xero Announces Transition to New Invoicing System with Enhanced Features

Xero will begin transitioning users to its new invoicing system starting the week of 2 September 2024.

  • Transition to New Invoicing System: Xero will begin transitioning users to the new invoicing system on a rolling basis from 2 September 2024, with the classic invoicing system being retired on 20 November 2024
  • Enhanced Features: The new invoicing system includes several enhanced features such as a more detailed audit trail, the ability to address invoices to contact groups and faster, more efficient invoice management
  • Further Improvements: Xero plans to introduce additional features before the full transition, including currency exchange rate settings, better inventory management and improved performance.

Xero users will be gradually switched over to the updated invoicing system. Once defaulted, users will experience the new interface every time they log in. To ease this transition, Xero is allowing users to temporarily switch back to classic invoicing until its retirement at 1pm AEDT on 20 November 2024.

Xero’s new invoicing system has already incorporated several improvements, including a more detailed audit trail in history and notes, the ability to address a single invoice to a contact group, and more efficient ways to manage invoices and contacts. Xero has assured users that they will continue to receive further updates, with upcoming features like currency exchange rate settings, enhanced inventory management, and the ability to record overpayments against invoices.

In the lead-up to classic invoicing’s retirement, users can explore the upcoming changes on Xero’s website and blog, which offer detailed information, resources and previews of what’s to come.

At Allan Hall, we are committed to providing tailored bookkeeping solutions that are comprehensive and long term, freeing up your time so you can focus on running your business. Whether you need support to manage your cash flow, forecast income and expenditure, or simply provide more detailed financial reporting, our highly skilled team of bookkeepers will assist you to ensure your business is operating as planned. Read more »

CONTACT ALLAN HALL BOOKKEEPING

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Xero Beautiful Business Fund

Xero Beautiful Business Fund now open

Posted on | by Allan Hall

Xero Beautiful Business Fund now open for entries

The Xero Beautiful Business Fund is back for 2024. Entries are now open — small businesses that use Xero are invited to enter.

Last year, Xero launched the Xero Beautiful Business Fund, which offers more than AU$700,000 in funding to Xero customers across Australia, Canada (excluding Quebec), New Zealand, Singapore, South Africa, the UK and the US.

APPLY HERE

If you haven’t applied yet, here’s how to get started:

Step one

Decide which of the four funding categories you’ll enter. You can submit an entry in each category if you wish.

  1. Innovating for environmental sustainability: How are you taking the next step on your environmental sustainability journey?
  2. Strengthening community connection: How are you serving your community and making a positive impact?
  3. Trailblazing with technology: How are you seeking to innovate and set pace using emerging technologies?
  4. Upskilling for the future: How are you overcoming a skills gap and preparing for the future?

Step two

It’s easy to enter. All you need to do is complete a short online form and record and upload a 90-second pitch video. This can be as simple as a self-recorded video on your phone.

Step three

Submit your entry by 27 August 2024; winners to be announced at the end of October.

For more information, please visit the Xero website »

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Changes to Xero plans from July

Posted on | by Allan Hall

Xero’s New Subscription Plans: Enhancing Small Business Efficiency

Streamlined Plans Tailored for Small Businesses Users from 1 July 2024.

Xero wants to make sure the needs of small businesses are met well into the future — and that means providing Xero users with easier access to tools that help you run your business efficiently. That’s why they’re refreshing subscription plans for small businesses users, which will be available from 1 July 2024.

According to Xero, much consideration has been put into creating streamlined plans with bundled tools and features, to help users solve their most important accounting and people management tasks. 

Find out more about the plans and what’s included for small businesses »

Introducing Xero’s small business plans 

Xero is launching three new streamlined business plans for Australian users, as well as enhancing the Ultimate plan. 

  • Xero Ignite plan — accounting basics made for businesses starting out
  • Xero Grow plan — accounting tools for self-employed and growing businesses
  • Xero Comprehensive plan — streamlined accounting and payroll for businesses with employees
  • Xero Ultimate plan (enhanced) — accounting, payroll and forecasting tools to help businesses scale for future growth.

With the new plan line-up for Australian small businesses available from 1 July 2024, existing Xero Payroll Only, Xero Starter, Xero Standard and Xero Premium plans will no longer be sold. Existing add-ons can no longer be purchased separately from this date.

The new plan line-up has more key features included — with fewer plans and add-ons to navigate. That means easier access to the tools and features users are looking for, so you can spend time on things that count, like running your business.  

Find out more about how new business plans compare with existing plans and what’s included.

Moving to a new plan

With the launch of these new plans, your existing plan will be moved to a new plan in a phased approach. Your current plan (and any add-ons) will be taken into account as part of this, with the migration of all plans projected to be completed by March 2025. 

Xero will continue to keep users updated during the plan change process and you’ll have at least 60 days notice before any changes are made.

How Xero is supporting users 

Xero understands that these new plans may feel like a big change, but please know that you’ll be continually updated during this process. In the meantime, Xero recommends familiarising yourself with the new plans so you can consider the best option for you when the plans are launched. 

Innovative, efficient bookkeeping

Keeping up to date with the business’s accounts payables, receivables, account reconciliations and ATO requirements can be very demanding for any business owner or financial manager.

At Allan Hall, we are committed to providing tailored comprehensive bookkeeping solutions that are comprehensive and long term, freeing up your time so you can focus on running your business. Whether you need support to manage your cash flow, forecast income and expenditure, or simply provide more detailed financial reporting, our highly skilled team of bookkeepers will assist you to ensure your business is operating as planned.

CONTACT ALLAN HALL BOOKKEEPING

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AHBA Xero Platinum Partners against AH office sign

Allan Hall attains Xero Platinum status

Posted on | by Allan Hall

Allan Hall Business Advisors is delighted to be formally recognised as Xero Platinum Partners

What does going Platinum mean for our clients?

Our primary goal is to build a successful accounting and business advisory firm that provides a high-quality, tailored service to business owners and individuals on Sydney’s Northern Beaches.

We didn’t set out with the goal of becoming a Platinum Partner but, looking back, becoming Platinum with Xero is something we’re really proud of. It’s recognition of our hard work and all that our team has done to help our clients and subsequently grow their businesses.

It’s also a great stepping-stone as we continue to work in collaboration with our Alliott Global Alliance colleagues worldwide to extend our capabilities beyond Sydney.

Being a Platinum Partner means a lot to our team.

Going Platinum boosts our capabilities in really unique ways. We’ve worked hard to achieve this goal, and the status shows our efforts have paid off.

As accountants, becoming a Xero Platinum Partner offers several benefits to our clients. Xero is a popular cloud-based accounting software platform, and achieving Platinum Partner status indicates a high level of expertise using the platform as part of our tech stack. Here are some of the benefits:

  • Expertise and Training: Platinum Partners have a deep understanding of Xero’s features and capabilities. We have undergone extensive training and certification, which means we can provide expert guidance and support to our clients.
  • Efficiency Improvements: Accountants who are Xero Platinum Partners are naturally more efficient in using and optimising the platform. This translates into skills we can pass on to our clients.
  • Enhanced Reporting: Platinum Partners can often provide more advanced reporting and analysis capabilities within Xero, helping our business clients gain better insights into their financial data.
  • Customised Solutions: Platinum Partners are better equipped to tailor Xero to the specific needs of our clients. We can create customised solutions and workflows that align with the unique requirements of different businesses.

At Allan Hall, we’re experts in Xero cloud accounting software that’s easy to love. Find out more about using Xero in your business here or drop us a line to get started.

CONTACT ALLAN HALL BUSINESS ADVISORS

using xero on an iphone

Xero research reveals business mistakes

Posted on | by Allan Hall

From working for free to hiring the wrong staff

Xero research reveals 83 per cent of business owners admit to costly mistakes

Xero, the small business accounting and bookkeeping platform, has released research revealing some of the most common learnings shared by Australian small business owners. The findings highlight that hiring the wrong or inexperienced staff and working for free or at low cost are considered the most costly business mistakes, impacting more than one in five (22%) small business owners.

The ‘Do Better Business’ research, which surveyed more than 1,000 Australian small business owners and leaders, not only sheds light on the challenges faced, but offers invaluable insights for businesses embarking on a new financial year, and provides helpful learnings for aspiring entrepreneurs.

“We know running a small business can be incredibly rewarding, enabling people to pursue their passions or achieve greater flexibility. But, as our research has highlighted, it also comes with its unique set of challenges, which have only been exacerbated by a turbulent economic climate,” said Will Buckley, Xero Australia Country Manager.

“As the new financial year commences, it’s a timely opportunity for business owners to reflect on the year that was and embrace key learnings that will pave the way for future success.”

Taking risks and learning from setbacks

Owning a small business is a constant learning process, with the majority (83%) of those surveyed admitting to making costly mistakes over the course of running their business. In addition to hiring challenges and working for free, working with the wrong partners, suppliers and investors (18%) and working with family and friends (12%) were other blunders. Additionally, nearly one-fifth (19%) reported spending every dollar of their personal savings in the early years of running their business.

Among the biggest learnings was a need to implement strong financial management practices, with nearly three-quarters (73%) of those surveyed rating this as the top three priorities they believed small businesses starting up should focus on. This was followed by building a strong network of industry contacts (63%), working with an accountant or bookkeeper (46%), and asking for help when struggling (46%).

Greater flexibility driving business ownership

There are many reasons driving Australians to business ownership, but the survey revealed a desire to be their own boss as the number one reason for 64 per cent. This was followed by seeking greater flexibility (61%) and wanting to pursue a passion or dream (41%). Nearly three-quarters (71%) of small business owners, however, admit to delaying starting their own business, with financial concerns being the number one reason holding them back (35%), followed by a fear of failure (21%). Despite this, 65 per cent of business owners surveyed by Xero say there’s never a perfect time to start a business, but they wish they’d done it sooner.

Small business ownership is also not without its sacrifices, with one in five (20%) small business owners from the survey reporting they missed a significant life moment like the birth of their child, a wedding or a birthday in the early years of running their business. The majority of those surveyed (86%) also wish they could prioritise their personal boundaries more while running their business, especially around their physical and mental health (43%) and spending time with their family, friends or partner (40%).

“Fostering an environment where Australians feel confident to pursue business ownership and are supported throughout their entrepreneurial journey is essential to ensuring a prosperous small business community and a resilient economy. We hope that by understanding some of the challenges facing small businesses, together with industry and governments, we can provide the right tools and technology to ensure businesses have the best possible chance to thrive this financial year and into the future,” said Buckley.

The generational divide and young small business owners holding back

The survey revealed it’s tougher for younger people to get into business ownership, with Gen Z reporting they were more likely to face negativity and discouragement from friends, family and associates about starting their own business venture (77%) compared to Baby Boomers (60%).

The fear of failure was also more common amongst young business owners and entrepreneurs with 29 per cent of Millennials saying they delayed starting their business because they didn’t want to fail, compared to just 12 per cent of Baby Boomers. Despite this, the flexibility of being a business owner was a central reason for 68 per cent of Gen X business owners, with 60 per cent saying they are now achieving this goal.

Considering Xero for your business? Alliott NZ’s Xero Certified Advisors in Auckland are here to answer any questions or to help your business upgrade to or optimise using Xero.

About Xero’s research: The research was conducted by YouGov of 1,022 owners and key decision-makers of businesses with fewer than 50 employees in Australia. Fieldwork was undertaken between 22-30 June 2023.

At Allan Hall, we have extensive experience using a wide variety of accounting software packages and can provide advice on which software is right for you.

CONTACT ALLAN HALL BUSINESS ADVISORS

Moving to new Xero Reports

Moving to new Xero Reports

Posted on | by Allan Hall

Xero is retiring older versions of their reports on 31 July 2023

In coming weeks, Xero will be transitioning some favourite ‘starred’ reports from the old version to the new version.

When users click on these reports in their favourites list, they will be automatically redirected to the new version of that report. This change is being made because Xero is retiring older versions of their reports on 31 July 2023 and they want to ensure that Xero users are prepared.

The new versions offer more flexibility and customisation, quicker access to insights and deeper analysis of business performance. Xero is aware that this change may take some time to get used to and is giving users plenty of time to make the switch.

Using new Xero Reports

Xero is urging users who haven’t yet switched to new reports to start moving their work across now. This way, there is time to adjust before older versions are retired:

  • Users can take a product tour of some of Xero’s most popular reports, such as the new Profit & Loss or Balance Sheet reports, and find a tips and tricks panel on the right-hand side showing links to support articles and how-to videos
  • Check out Xero’s reporting playlist on YouTube for help on tailoring reports in Xero
  • Start using Xero’s layout importer tool in the Profit & Loss, Balance Sheet and Budget Variance reports to bring saved layouts across to new versions
  • If needed, users can return to the older versions via the overflow menu in the Report Centre until 31 July 2023.

At Allan Hall, we have extensive experience using a wide variety of accounting software packages and can provide advice on which software is right for you.

CONTACT ALLAN HALL BOOKKEEPING

invoice

Why businesses should embrace eInvoicing

Posted on | by Allan Hall

eInvoicing is a new way to send and receive invoices electronically directly between accounting systems

How? It’s all done via a secure platform called the Peppol network.

Not only does eInvoicing help facilitate faster payment times, but it’s also more efficient, accurate and – importantly – safer. In fact, everyone from enterprises to software providers and government agencies are jumping on board. And it’s easy to understand why. 

In Australia, eInvoicing represents a $28 billion opportunity thanks to increased efficiencies. What’s more, its security features make it a no-brainer for businesses of all sizes, particularly in today’s climate where cyber safety is a top priority.

To help learn more, Xero talked with Xero advisors Caryn Hill and Gabrielle Crooke to discuss their experiences and the benefits they’ve seen for small businesses. 

What convinced you to look into eInvoicing? 

Caryn: What excited me most about eInvoicing is the security aspect. Invoices travel straight from one accounting software to another via the Peppol network, meaning an email or PDF can’t be lost or tampered with. Everyone who uses it also has to register for the network (as eInvoices can only travel between registered entities), which offers peace of mind in knowing all the information is verified. 

Gabrielle: I have a few clients with quite a high turnover of Bunnings invoices. After I learned that Bunnings is a Peppol-registered company, I talked to my clients about eInvoicing as a potential solution. It’s awesome to see companies like Bunnings leading the way. Especially as research shows that more small businesses would register for eInvoicing if big business suppliers (e.g. Telstra, Woolworths, Officeworks) sent invoices directly to their accounting systems.

Why should small businesses embrace eInvoicing? Tell us about the benefits. 

Gabrielle: Alongside the security features already mentioned, the greatest benefit I’ve seen for small businesses is how quickly invoices appear in their accounting software. It’s faster and more accurate than any other system I’ve seen before, which makes reconciliation and paying bills easier for clients. As a Xero advisor, this reduces manual processing errors like double-ups or wrong dollar amounts – I have complete confidence that all the data coming through is correct. 

Caryn: In all my years as a bookkeeper, I don’t think I’ve ever had a month where every single invoice is just there. But eInvoicing has changed this. Business owners no longer have to scroll through their phones to find a blurry photo from weeks (or even years) ago or try to decipher the numbers on a faded receipt. It’s so easy to verify, reconcile and approve everything at the end of the month because it’s guaranteed that the data has been exchanged. This minimises processing time for me, as an advisor, and my clients, meaning we can both focus our energy on more important tasks.

Walk us through the registration process in Xero. 

Caryn: It was amazing how quick the registration process was for my clients. Everything was just there. For those with a Bunnings Trade account, we didn’t even have to notify them – the invoices immediately started coming in, which was fantastic to see.

Gabrielle: I found the registration process in Xero to be self-explanatory. After I had authorisation from my clients to sign them up, I followed the prompts; it was as simple as that. 

Where can small businesses go to learn more about eInvoicing? 

Gabrielle: My tip for anyone interested in eInvoicing is to do your research. According to Xero’s data, one of the top barriers to adoption for small businesses is not knowing enough about it. This is why Xero has its Resource Hub with plenty of helpful information to get started. And Xero advisors can also guide you through the process.

Caryn: Advisors can be a great source of knowledge when it comes to eInvoicing – after all, many of us are big advocates as it makes our job easier. I’d also recommend talking to your small business peers. If we can get the word out there, we’ll see more registrations which means more people will benefit!

Gabrielle: Ultimately, eInvoicing reduces stress. We all have busy lives, and no one needs more to do. So be sure to register now and thank yourself later.

Considering eInvoicing for your business? Head to Xero Central for a step-by-step guide on how to register in Xero in just a few clicks. And remember, your Allan Hall Xero Certified Advisors are available to answer any additional questions.

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