New year. New Xero: What you need to know in 2019

StuartBusiness Technology, Cloud Accounting

As we enter the New Year, our friends at Xero have been hard at work making loads of planned changes to help us to even more beautiful business in 2019.

Like Xero, we’re on a quest to make record keeping easier, safer and more efficient. So keeping track of improvements will ensure you are getting the most out of your Xero and spending your time efficiently.

Check out Xero’s biggest changes and super exciting improvements to expect in 2019, below.

 

Two-Step authentication mandatory in 2019

Updated security requirements from the Australian Taxation Office (ATO) has meant compulsory two-step authentication is required when using any software that connects to the ATO. Find out more about 2SA and other ways you can protect your data here.

 

Lodge activity statements via Xero

Say goodbye to paper forms and manual data handling with direct lodgement of activity statements from Xero, straight to the ATO. This streamlined process takes the frustration out of lodging your BAS and reduces human error.

 

Single-Touch Payroll + allowance categorisation

Businesses with 20+ employees are now required to use STP to report directly to the ATO each time they pay their employees. This eliminates the lengthy process at tax time of compiling and submitting payroll information to the ATO.  In addition to this update, Xero have introduced further categories for allowances, which were once simply filed under ‘Other’.

 

COMING SOON

Improved connections to bank feeds

Xero is working to improve the connection of bank feeds that require paper application forms by eliminating manual steps involved in the process.

 

Bill management via mobile

Small businesses will soon be able to add and edit bills using Android or iOS, providing small business owners the flexibility they need to manage their accounts on the go.

 

To keep up to date with Xero updates and announcements, head to Xero Central or subscribe to our blog here.

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