Xero : 01/04/2021 - Xero News April 2021

Xero News April 2021

The latest in product, ecosystem, partnerships and business at Xero

What we've been working on

Deep dive

Xero invests in the future of e-invoicing globally

We recently announced that Xero will acquire Tickstar, an e-invoicing infrastructure business that allows businesses like Xero to connect to e-invoicing networks around the world. We believe e-invoicing is one of the next big innovations that will help small businesses and advisors streamline their accounting work and get paid faster.

E-invoicing provides significant efficiencies for small businesses- reducing administration time, invoicing errors, and the risk of invoice fraud. It also makes it easy for governments and businesses to pay invoices faster, as the process is automated and there is no need to manually enter data or chase missing information.

We currently use Tickstar's technology to connect Xero customers to e-invoicing networks in Australia and

New Zealand. This acquisition will provide Xero with continued access to e-invoicing networks, while providing Tickstar with additional resources to service their existing customers and acquire new ones.

As other Xero markets around the world adopt e-invoicing, we will be able to use Tickstar's technology to connect to the e-invoicing network in that region. We may also be able to provide important infrastructure to governments hoping to set e-invoicing up in their market.

Take a look at our e-invoicingfact sheetto find out more about the infrastructure we have acquired, including how e-invoicing works and where it has been adopted around the world.

Find out more at the Tickstar

Enhancing our infrastructure in Singapore

In addition to Tickstar, Xero has acquired Invoici, an app that makes it easy for our customers in Singapore to send and receive e-invoices.

The Singapore Government has mandated e-invoicing capabilities for accounting software providers like Xero. Bringing Invoici into our portfolio of products will ensure continuous access to e-invoicing for our Singapore customers, without relying on a third-party provider.

How does e-invoicing work?

Sender

creates an e-invoice in Xero

Sender's access point

(Tickstar technology)

E-invoicing network

Receiver's access point

PAY

Receiver

The e-invoices appears pre-populated in their software system ready to be approved and paid

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Other Xero updates

We've made a number of other updates on the Xero platform over the past month, including:

Global

Securing accounts with Multi-Factor

Authentication

To make sure we continue to keep Xero accounts secure, we're making Multi-Factor Authentication (MFA) mandatory for all Xero customers globally in the year ahead. Businesses can set up MFA on their account by downloading our new authenticator app called Xero Verify, which only takes a few minutes to set up and sends a push notification when they log in.

Accounting
CIS Return
July - Aug
	CIS
John Smith	750
Dora Patterson	200
Jen Kim	610
	Submit to HMRC

Display and sort reports by account code

Reporting in Xero now displays and sorts Profit and Loss and Balance Sheet reports by account codes. Businesses can select 'show account codes' in the options menu in reporting to get a better understanding of the chart of accounts within reports.

Enjoy a new GoCardless experience in Xero

We've released a new GoCardless integration that makes it easy to set up direct debits (automatic bank-to-bank payments). Businesses cna set up one-off and recurring payments via the payment services screen, or from an invoice.

Share receipts with Xero Expenses

Submitting expense claims on the go is now easier than ever. Businesses can simply open a receipt on their mobile from an email, photo or folder, tap share and select the Xero Expenses app. This automatically creates an expense claim with the information on the receipt and gives businesses a notification when the claim is ready to be submitted.

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Other Xero updates

We've made a number of other updates on the Xero platform over the past month, including:

Global

Split transactions across accounts and tax rates

Android users can now create a new spend or receive money transaction during the bank reconciliation process in the Xero Accounting App, and code it to as many accounts and tax rates as needed. We're bringing this feature soon to iOS users.

Upload more documents to Hubdoc

The latest Hubdoc update allows businesses to upload up to 1,000 documents to Hubdoc in a 24-hour period, up from a previous limit of 300 documents.

New apps join the Xero App Marketplace

We've had a number of apps join Xero's ecosystem this month, including:

Pet Manager, DataSights giniPredict, JobFlow, Lucida and Review You.

Learn more about Xero updates

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Other Xero updates

We've made a number of other updates on the Xero platform over the past month, including:

Australia

Manage activity statements in Xero Tax

Automatic activity statements in Xero Tax and Xero Practice Manager are a huge time saver for accountants, but we know that some businesses prefer to lodge activity statements themselves. That's why we're now giving accountants the option to select which clients manage their own logements, in the client record. They can also select which period activity statements should be created for other clients.

Save time and energy with document packs

Document packs in Xero HQ are now available to all Xero partners in Australia. Document packs combines tax returns from Xero Tax, reports from a client's Xero organisation, and PDFs from a local device in one single pack. Advisors can add signature lines, upload to a secure online portal, and invite their clients to sign using Xero Sign powered by Adobe Sign.

New Zealand

Stay updated on payroll changes for EOFY

New Zealand employers have a number of changes to payroll to keep on top of this year, from increased minimum wages to new tax rates. We've made it as easy as possible for them to manage EOFY tasks in Xero Payroll, with many of the changes automatically applied, so they can pay employees correctly and stay compliant.

United Kingdom

Manage off-payroll workers in Xero Payroll

We've made it fast and easy to onboard, manage and process off-payroll workers in Xero Payroll. The required reporting is sent via RTI filings, so businesses can feel confident that they'll remain compliant with HMRC legislation. These changes are in line with the IR35 legislation that will come into effect on 6 April 2021.

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Xero business update

Global

Xero to acquire Planday

A few weeks ago, we announced Xero's acquisition of Planday, a workforce management platform that will help us deliver on our purpose to make life better for people in small business, their advisors and communities around the world.

Planday integrates with Xero, other accounting solutions and third-partyworkforce-related apps to deliver a real-time view of staffing needs and payroll costs, alongside key business performance metrics. Founded in Copenhagen, Denmark, in 2004, Planday serves more than 350,000 employee users across Europe and the UK. Its product

is available in 14 languages, and it can be tailored for new regions.

Planday will operate as a Xero subsidiary and continue to focus on serving small and medium businesses and enterprise customers. Currently, Planday is available to our UK customers through the UK app marketplace. Following the acquisition, we will work closely with Planday to expand its presence into other markets where Xero operates, supporting our long-term growth plans.

Find out more about Planday

BDO becomes Xero Global Partner in new agreement

We have signed a three-year global agreement with BDO, to help businesses build resilience and plan for success. BDO has been awarded Xero Global Partner status, and Xero will become BDO's preferred accounting solution for its small and medium-sized clients globally.

Working closely with Xero, BDO advisors will be able to deliver real-time data and help clients both understand and apply this information. These accurate financial insights will be invaluable to small businesses. They'll enable business owners to focus on what matters to them - whether that's growing their business, diversifying their products and services, exploring new markets, improving processes, or going completely digital.

The initial participating firms are expected to include BDO Australia, New Zealand, UK and Canada and we look forward to welcoming many more over the course of this agreement.

Find out more

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