بلاگ

As part of the program, we publish regular blogs, research notes and deep-dive special reports on specific small business topics. XSBI tracks regional data across British Columbia, Alberta and Ontario. In the three months to September 2024, all three provinces experienced a year-over-year decline in sales. Notably, British Columbia recorded the weakest sales performance (-5.0% y/y), while Alberta had the smallest fall (-2.6% y/y). These are just some of the updates that have rolled out in Xero this month.

Change region

The changes may take some getting used to, but rest assured there has been no change in functionality. Xero now offers automated rule recommendations to make onboarding and completing your 1099s easier than ever. Choose from a set of suggested rules to get set up faster and manage your 1099 reporting with ease. Once you’re ready, e-file your 1099 forms seamlessly through Xero’s connected app partner, Track1099 by Avalara. You can access Track1099 directly from Xero with a new single sign-on to simplify the process of filing your forms to the IRS.

Data entry becomes less of a chore when you upload bills directly to Xero. Effortlessly create multiple bills at once by selecting the files or simply drag and drop. Xero automatically creates draft bills with key details, with the original document attached ready for approval. You’ll be able to filter and group by these columns, offering a more powerful way to analyse transactions in Xero. If there is no invoice number or contact name for the transaction, the field will remain empty. Pull bills and receipts into Xero automatically with Hubdoc.

This allows for more precise tracking and more accurate leave accruals. Additionally, annual leave is now displayed in weeks, eliminating the need for adjustments when work arrangements change. These enhancements will streamline processes, reduce manual tasks, and ensure greater legislative compliance. Keep your practice a step ahead with Xero accounting software. Access Xero features for 30 days, then decide which plan best suits your business. We’re thrilled to announce the global and country winners of the 2024 Xero Beautiful Business Fund, who each share in the NZ$750,000 total prize pool.

Automated features to save you time

You can check out the August edition here, and for a full list of what’s new this September, see the release notes in Xero Central. To help save time and ensure more accurate payroll from the first pay run, we’ve modernised the user interface, included more informative content, and ensured the page meets accessibility standards. These are just some of the updates that have rolled out in Xero this month! You can check out the December 2024 edition here, and for a full list of what’s new this February, check out the release notes in Xero Central. You can now electronically submit amended accounts, we’ve added additional notes on FRS 105 and 1021a allowing you to explain any changes and a handy file button to complete the submission. We’ve made Xero even better with some UK tax enhancements designed to save you time and reduce errors.

US: Streamline 1099 preparation with third-party payment exclusions

Relax and enjoy seamless compliance with the new regulations. You can learn more about these enhancements in this webinar.

We’re kicking off the new year with some exciting Xero updates designed to address some of the enhancements you’ve been asking for, and make things more automated to save you time. Keep reading to learn how these enhancements will benefit you and your business. Report annotations can be used in conjunction with footers, text blocks and schedules to add commentary and life to the numbers. Similar to the older version of our reports, you can click on the ‘add note’ icon next to a cell and start typing.

This will help you share explanations with your advisor or accounting and bookkeeping clients, so everyone understands what story the numbers are telling. US customers banking with PNC Commercial can now connect to a brand-new PNC Commercial bank feed. And if you’re an Australian customer using Suncorp Bank, you can now sync your loan transaction data with Xero thanks to the addition of loan accounts to the Suncorp Bank feed.

Accounting software made for small businesses and sole traders. Plus, you can now set up and manage practice government gateway IDs for Xero Tax in one location. We’ve updated Xero’s e-Invoicing functionality to meet the latest Malaysian government requirements. You can send consolidated e-Invoice statements directly from Xero to IRBM.

• XSBI provides a snapshot of the health of the small business sector measured across sales performance, late payments and time-to-be-paid.
• These tweaks are based on user feedback and make the templates easier to use.
• For US accountants, a key compliance update has been implemented to the Schedule C report.

We also listened to your feedback and switched the total column on by default, as well as displayed whether reports are ageing by due date or invoice date. You’ll have the option to add the contact account number to your report from the column dropdown list, too (we’re planning to add this column to other reports, so stay tuned). You can also save custom reports and can hide any rows you don’t want by using a filter.

What new XSBI data tells us about North American small businesses

Toronto — February 6, 2025 —Xero, the global small business platform, today released its quarterly Xero Small Business Insights (XSBI) data for Canada. XSBI provides a snapshot of the health of the small business sector measured across sales performance, late payments and time-to-be-paid. The latest data shows that while the time it takes to get paid is improving, late payments and sales of goods and services continued to fall over the three months to September 2024. This suggests that Canadian small businesses continue to be resilient, xero blog even in the face of challenging conditions.

This will make it quicker to add similar items to your catalogue, with less chance of manual error. Xero has just been awarded the IDC 2024 SaaS CSAT Award for Finance. Xero placed in the highest scoring group for vendors serving the financial application market.

You can also add simple dollar-value discounts to sales orders you manually create in Inventory Plus. This is helpful if you need to invoice for larger orders directly. This means you can manage your logins for personal tax, partnerships, and soon company tax all in one place.

When it comes to new reporting features, there’s plenty more on the way. Keep an eye out for our new Account Summary report in Xero, as well as more flexibility in comparison periods in the Profit and Loss report too. We’ll keep you updated, but in the meantime we hope you enjoy all the value we’re adding to new reports in Xero. Last year, we announced we were ramping up our investment in new reports. This work is all part of our vision to provide you with a custom suite of reports to help you get answers fast, and streamline your financial analysis.

All pricing plans cover the accounting essentials, with room to grow. An accountant or bookkeeper can be a useful set of hands to help with the accounting heavy lifting. Get the most out of Xero with access to our team of onboarding specialists during your first 90 days. The most important part of making New Year’s resolutions is creating a plan on how you will achieve them – and then taking action.