3 ways Xero can make EOFY easier for your business
With the right software, you can streamline your whole tax time process!
Sponsored by Xero. Right now, you can save 90% on the first 6 months of your Xero plan. So if you get started now, you'll be setting yourself up for success during tax time! To find out more, visit the Xero website today.
When you run your own small business, you know that you need to wear a lot of different hats.
Management, sales, HR – even accounting!
But if you don't give yourself the right tools, you're not setting yourself up for success. Especially at tax time.
So today, we're looking at some of the benefits that Xero can offer to small businesses.
Xero is a cloud-based platform that can help you transform EOFY from a burden into a streamlined, insightful process.
With Xero, you're able to access your business financials anytime, anywhere, and collaborate effortlessly with your advisor.
Ultimately, it can save you time, reduce stress, help maximise your deductions and provide clarity.
That lets you get back to doing what you do best: building your business and thriving into the new financial year.
1. Automated bank reconciliation & real-time financials
Pitch: "Ditch EOFY stress! Xero's automatic bank reconciliation keeps your books tidy and tax-ready, giving you real-time insights without the manual grin
Tax time means reports. And a lot of them, too.
You need to make sure you've got accurate information at hand in order for your books to be tidy and tax-ready.
Simple in principle. But often incredibly time-consuming in practice!
Fortunately, Xero can help you eliminate manual data entry and ensure that your financial insights are accurate.
This can help cut down on potential errors, reduce EOFY stress for you and ensure long-term accuracy – without requiring massive manual effort from you.
💰Special offer: Save 90% on your Xero plan for 6 months💰
Right now when you sign up to Xero, you'll save a whopping 90% on your subscription plan for the first 6 months.
There are a variety of plans available to suit your business size and future growth.
Additionally, you're able to trial Xero for 30 days for free. This way, you'll be able to see exactly how it can fit into your workflow.
2. Simplified payroll & STP Compliance
ATO-compliant Single Touch Payroll (STP) reporting is critical for managing your EOFY processes smoothly.
The good news is that Xero can help you handle this process.
With Xero, you're able to automate:
- Payroll
- Superannuation
- STP reporting
This means you can drastically speed up your EOFY payroll finalisation, while also ensuring compliance.
3. Easy invoicing & bill management
Cash flow is key for any company, no matter the time of year.
Having Xero in place allows you to easily issue invoices, as well as keeping track of their status.
This allows you to speed up payments while also ensuring accurate income and expense tracking.
Xero can also be used to pay for a range of business bills and expenses.
In conjunction with one another, Xero's invoicing and bill management ensure all income and expenses are captured accurately before June 30.
Online resources at Xero.com
In addition to software solutions, Xero also provides a range of resources on its website for small businesses.
At the moment, you can find an EOFY guide on Xero's site that takes you through:
- Key financial year dates
- Lodging your tax return
- Payroll reporting
- Working smarter with Xero apps
Xero's blog also offers regular features on current and upcoming happenings in the tax world, such as new legislation or procedural changes.
Discover how your business can get started with Xero today
Sponsored by Xero. Right now, you can save 90% on the first 6 months of your Xero plan. So if you get started now, you'll be setting yourself up for success during tax time! To find out more, visit the Xero website today.