We’ve been able to develop improvements we know our customers have been wanting like widening the view, and being able to view the count of transactions into the new experience. You can now filter transactions, easily check which returns are due or overdue, and view late claims in the new ‘Late claims’ tab. To make it easier to manage online payment methods and help you customise how you get paid, we’re rolling out the ability to toggle payment methods on and off in your payment settings without leaving Xero. These changes will be complete this month, so if that’s something you requested via Product Ideas or something that you’ll find helpful, be sure to check it out. Today, Syft is available through the Xero App Store as an app partner. And we know that many Xero customers know and love Syft for its beautiful custom reporting and visualisation features.
Urban centers lead decline in Aotearoa’s small business labor productivity
The new updates are part of Xero’s broader investment in reporting, to help advisors and small businesses easily customize reports, get answers fast and streamline their financial analysis. Syft also provides insights by aggregating data from other software that small businesses and accountants and bookkeepers use – whether that’s accounting software, Excel, or partners such as Stripe, Square, Shopify and Gusto. These are all things we believe will bring greater value to the Xero experience and support small businesses and their advisors to have a deeper understanding of their business to make informed decisions.
UK: Updates to existing chart of accounts templates
We’ve always been focused on reimagining how accounting software can empower small businesses, as well as their accounting and bookkeeping partners, by providing insights to help them to run their business better. Syft supercharges our ability to serve customers in this way. Over the next few months, Xero users will notice a variety of other enhancements, including new ways to access and search for reports, the ability to customize content and layout, add cell annotations, and build management reports. With more editing options and a refreshed design, accountants and bookkeepers will be able to better customize reports to suit their unique needs and style. We appreciate that updating sales tax codes for your products and services took up a lot of time.
Check out tax time changes, and lodgement changes for all the details. You can now edit and make adjustments to your items without leaving the product and services screen, making it quicker to keep your inventory list accurate and up to date. We’ve released more than 40 amazing updates across Xero, made some pretty cool product announcements at Xerocon London, and got ready for the new Australian tax year.
Xero data reveals small business owner wellbeing lags general population
We aspire to build a higher performing global SaaS company; to do so, we must deliver better for our customers and execute against a disciplined growth framework. This is why we are streamlining and reshaping our organisation. While we remain committed to our broader platform strategy, to further focus our efforts, we have also made the decision to exit Waddle, the cloud-based lending platform we acquired in 2020. The results highlight our continued strong revenue growth, which contributed to Xero’s emerging profitability. These are just some of the updates that have rolled out in Xero this last month. For a full list of what’s new this July, check out the release notes in Xero Central.
- Within the payroll switching wizard, you can now import employee opening balances from your latest FPS file and enter organisation opening balances to complete payroll setup.
- This includes many of the leaders who are here to support you and are absorbing the news themselves in parallel.
- Please connect with your People Leader, Senior Leader or People Experience (PX) team.
- Access Xero features for 30 days, then decide which plan best suits your business.
Since then, we’ve heard from you, our community, that we didn’t quite… It’s been a busy month in Xero Payroll and some great features have made their way to you. We’d heard from many of you using UK payroll that changing the date an employee’s leave accrues was important. So you can now select a custom leave year for leave to accrue at an employee level, reducing manual work and saving you time.
This, along with disciplined cost management and restructuring outcomes, supported a 90% increase in EBITDA compared to H1 FY23, to $206.1 million. This reflected our ongoing focus on balancing growth and profitability, and resulted in an increase in free cash flow to $106.7 million, representing a free cash flow margin of 13.3% compared to 2.4% in the prior period. This focus was also reflected in our net profit, which increased to $54.1 million compared to a net loss of $16.1 million in H1 FY23. Find out about Xero, the emerging global leader of online accounting software that connects small businesses to their advisors and other services. We’ve added more automation to report templates based on a product idea.
Access Xero features for 30 days, then decide which plan best suits your business. Today we announced Xero’s half year financial and operating results to 30 September 2023 (H1 FY24). View and download images of Xero offices, our leadership team and product. To request an alternative format, or for any other inquiries, please contact the Xero media team.
Xero launches Xero Verify to bring world-class data protection to all small businesses and partners
Xero provides a product customers love and value, as shown by our continued revenue growth and improving profitability. We are committed to evolving our business to deliver on our global aspirations. The opportunity ahead is significant and we remain focused on our vision, to be the world’s most insightful and trusted small business platform. At Xerocon London 2024, we announced a suite of product innovations to streamline key accounting tasks for UK small businesses and their advisors.
- This involves a deeper redesign of our Technology function, which may result in role impacts of a smaller magnitude.
- Curzon offers a sneak peek into these exciting changes, and more to come in the months ahead, in this YouTube video.
- The acquisition of Syft aligns with our values and open ecosystem principles.
- As part of this, we made some changes to how payroll was included in our plans.
This supports an easy, accurate and efficient switch any time during a tax year. Do you need to find a specific statement from a particular tax year? And because being able to correct a ‘failed’ activity statement in Xero is helpful, we’ve also recently released the ability to revert failed statements to draft in Xero. Once you’ve made corrections you can re-lodge the statement to the ATO in Xero. Additionally, if your practice uses Xero Tax, you’ll be pleased to hear that we’ve recently released all of this year’s compliance changes, in line with the rules for the new tax year.
Xero and Allinial Global partner to bring the power of cloud accounting to more member firms globally
As we look forward, we’re sharpening our focus on Xero’s key levers of growth as we aspire to become a higher performing SaaS company. We will continue to balance growth and profitability, while delivering more value to our customers. Within the payroll switching wizard, you can now import employee opening balances from your latest FPS file and enter organisation opening balances to complete payroll setup.
We are committed to moving through this time of change together with care, compassion and fairness. In FY23 we made the decision to slow the rate of incremental headcount growth significantly which has helped, but not enough. On my CEO listening tour, I also heard from many Xeros about how we can improve our focus and prioritisation of resources to become more effective. As we discussed recently, as Xero continued to scale in recent years, we have grown our headcount, areas of focus and cost base at a faster rate than our revenue. Today’s news affects everyone at Xero, but most of all it affects the many talented colleagues and friends who have contributed so much to Xero and whose roles are potentially impacted. It is now our commitment to support them, and you through the coming weeks, and I will outline the steps we are taking shortly.
If you use the Xero integration with Avalara for US sales tax, you can now update your sales tax codes for your inventory items in bulk. You can also export and import your items in a CSV with a new column for sales tax codes, helping you keep your inventory list updated with correct tax information, faster. Xero is continuing to invest in and work with the partner community to enrich reporting with new features, customization options and insightful analysis, as it simultaneously works to strengthen its underlying technology. Recent improvements to new reports include greater control over accounts and balances in the Account Transactions report, and powerful one-click settings that tailor reports to suit user needs.
Syft is the most used reporting and insights app in the Xero App Store and has been awarded several accolades this year, picking up Xero Awards across multiple countries. As we look to the next phase of Xero’s growth, many of you have asked me what change is needed for us to simplify focus, strengthen our execution and balance growth with profitability. Today I want to share an important update and the extremely challenging news that comes with it. Last year we introduced a new line up of plans for our Australian customers to simplify our offering and make it easier to choose the right plan. As part of this, we made some changes to how payroll was included in our plans.
It also includes enhancements to Xero’s report styles in Xero HQ, giving users the ability to change font sizes, as well as adding preset and custom watermarks. Our goal is to bring the power of premium insights and advanced reporting functionality to our customers so they can reap the value for their business. This is what our open platform is all about – providing our customers choice so they can use the software that best meets their specific needs. We’ll also work to embed Syft’s functionality within Xero over time, to provide powerful visualisations, analytics and reporting capabilities for new and existing customers.
In the coming quarter, we will look xero news twitter to redesign the way we work across key functions, in order to operate with greater clarity, speed and effectiveness. This involves a deeper redesign of our Technology function, which may result in role impacts of a smaller magnitude. We expect the full organisation design work to be completed by July this year. We’re really proud of the work we do to make life better for people in small business. Please connect with your People Leader, Senior Leader or People Experience (PX) team.
It’s been a busy month with lots of highlights, so read on to discover what’s new in Xero. The acquisition of Syft aligns with our values and open ecosystem principles. We couldn’t be more excited to welcome the Syft team to Xero so we can continue to empower small businesses and their advisors customers with the tools they need to make informed business decisions.