Xero: Online Accounting
Notice: Single Touch Payroll (STP)
New legislation has been passed requiring small businesses (19+ employees) to report their employee's super, pay, PAYG withholding and Tax to the ATO every time you complete your payroll. ABC Business Solutions makes this easy by setting up your STP with your already existing Xero payroll.
Contact us to find out how.
Why have a computerised accounting system?
To get an understanding of what is happening in your business!
ABC Business Solutions is a Xero Silver Champion Status Partner with 3 Xero Consultants. Part of ABC’s Xero team is Carol Roberts who is a certified Xero Online Accounting Advisor. As well as being an ABC Partner, Carol is a Fellow IPA, and has worked in management accounting for many years.
Being a certified Xero Advisor Carol and Scott can assist your business with correct information, setup, installation and training solutions. Carol specialises in the Ostendo-Xero integration and can assist with setting your SMSF on Xero with integrated downloads of dividends and share portfolio updates to allow you to access your Xero account anytime anywhere you can have Xero as an app on your iPhone or iPad, or connect via your Android phone.
Xero now comes with an inbuilt payroll, with the small business in mind who has only a few employees, this keeps all your financial information in one file.
What is Xero Online Accounting?
Not only is it beautifully designed and easy to use, there are a range of benefits and features that come with Xero accounting software. Xero lets you work together with your clients and customers online. There is no need to download or upgrade software as the back-ups are done automatically. You can access client data anywhere, anytime (provided there is an Internet connection). You can also give other staff various levels of access.
Xero Online Accounting is a comprehensive accounting system, with bank data automatically imported daily, debtors, creditors, GST, expense claims, fixed assets and it is a great tool for simplifying multi-currency.
Our favourite Xero features include:
Dashboard: A real-time view of your business at a glance with a snapshot of all your transactions.
Banking: Easy bank reconciliation that keeps your accounts accurate and up to date. Also features automatic bank feeds, which get your transactions into Xero with ease.
Contacts: Manage the individuals and organisations that you do business with and have them appear easily in invoices and transactions.
Web-based: Access your accounts and run your business anywhere in the world on your PC, Mac or mobile devices.
Invoicing: Get a single view of where your money is coming from and when. Xero Online Accounting allows you to create, send, receive and report on invoices all from one place.
Payables: Manage how much money you owe, what’s overdue and what’s waiting payment.
Expense Claims: Enter and manage personal expenditure easily.
Reporting: Generate reports in real-time, anytime. Your financial advisors can also create and publish reports for you
Xero Integrated Payroll
You can now use Xero for payroll and a pay run can easily be entered anywhere and at anytime. Make bulk payments and email or print payslips for your employees. Xero will manage superannuation, PAYG, rostered days off, annual leave and personal leave accruals with ease.
Pay runs can be set up for weekly, fortnightly or monthly.
Up to 50 employees
Automatic tax tables updates at no extra cost
Employee self-service portal – so employees can go in and request leave, print payslips, review leave balances at anytime
Pay run journal – this allows you to check the transaction is processing to the correct general ledger codes.
There is a number of Payroll reports to meet all of your reporting requirements. The Leave balance report provides not only the number of hours but also the dollar amount.