Xero Roadshow - what's on our radar

Xero is constantly innovating and improving their services to make it easier for businesses to manage their finances. They recently acquired the Planday rostering system, which will be integrated with Xero - you can sign up to be one of the first to see this integration! This exciting new feature will help businesses save on admin and labour costs, improve employee experiences, and even alert them about any conflicts or rules that need following. Not only does this integrate with Vend and Square but it also combines all your wage costs into one visual green/red percentage of income. You'll also be able to approve timesheets for payroll, Xero sync, run payroll reports, check it and post pay runs easily.

In addition to this new rostering system, Xero has added a number of other great apps to their ecosystem such as Coho (great app for sustainability reporting), Everperform (great app for employee well-being) and implemented e invoicing using Peppol so you can get your Xero invoice using e-invoicing from May 2023. Large companies like Bunnings are already starting to implement this. You can also get paid faster by adding Stripe pay by card & Go Cardless direct debit in multiple currencies including a big “pay now” button on the invoice.

STP2 - 31 March Step 4 start enrolling for STP2! Xero's payroll area has received some upgrades too with the new Payroll History feature which shows all changes in payroll file - plus you'll soon be able to add notes to timesheets on both the app & desktop with Xero Me.

As far as reports go there will be a new General Ledger report in the new format which you can filter, reorder, add columns and summarise as well as a Journal report that allows you to manually add journals plus other columns.

There's a Bank Rec report available now plus a tool that helps convert old client report settings over into the new reports format; saving layouts & bringing over rules too! The Ecosystem reporting section includes Syft, Spotlight, Fathom, Calxa, Futrli while the ABS business reporting is connecting automatically with Xero soon. The ABS is looking for people who want to trial the beta version of it.

Lastly there's some mental health funding available called Beyond Blue NASBO specifically designed for small business owners - so definitely look into that if you feel you'd benefit from it!