Xero Payroll in New Zealand: The First 90 Days

Xero Payroll in New Zealand was released last April 2015, just in time for preparation as the financial year ended and another began. Payroll in Xero has saved time and improved accuracy with less manual data entry. It is easy to be implemented and can be securely accessed from your devices without downloading any software or installing any updates. With Xero, it has become easy to process pay runs, pay your employees, file reports with Inland Revenue, and stay compliant – all in one place.

Payroll in Xero lets you stay in control of your cash flow at all times. Transactions represented as journals seamlessly flow and automatically updates into the general ledger as it impacts the accounts immediately.

The employee app aims to increase employee engagement. It allows them to apply for leave, access pay history and leave history, including balances, download pay slips and view personal details anytime – all without seeing the rest of the business and payroll financials. Moreover, they can submit leave requests on behalf of employees with the optional ‘manager’ role. The employee app was made available online at itslaunch, and is coming soon to iOS and Android for mobiles.

Reporting your payroll information to Inland Revenue is made stress-free as all of your required reports are created and pre-populated for downloading. All you have to do is upload them to Inland Revenue, invite your adviser or payroll administrator to view and even manage payroll information in Xero for a smoother collaboration. You can control their level of access and view of the business financials. Now you can get their real-time, valuable advice whenever you need it.

This platform can also get leave types to meet the needs of any business. These include unlimited and flexible earnings, deductions and reimbursements. Xero offers pay calendars to suit any business – and there are no limits in the number of pay calendars you can create.

Payroll in Xero keeps you compliant as tax (including updates on tax rates), KiwiSaver, and leave calculations are automatically looked after you. Ir-Files like Employer Deduction Form (EDF), Employee Monthly Schedule IR348 (EMS) and KiwiSaver employment details (KED) are made available recently as Xero enhances some of its features. Here are more improvements over the past few months:

Xero continues to work on improving the payroll experience in New Zealand, including seamless payments direct to your online banking and powerful web and mobile timesheets, to make this platform the complete package for growing businesses. It encourages users to submit feedback through a dedicated area on its community page, or share ideas through their Feature Request section.

Seamless online accounting and payroll with Xero saves time and money, and increases productivity, changing the way small businesses do accounting.

The Outsourced Accountant supports Australian and New Zealand accounting firms by helping them understand and implement outsourcing solutions to help them become more proactive and truly add value to their clients. If you want to know more about outsourcing, call us at 1300 896 522/0800 452 853, and download our e-book.

REFERENCES

https://www.xero.com/nz/accounting-software/payroll/

Process, Pay and File with New Zealand Payroll

Introducing New Zealand Payroll in Xero

New Zealand Payroll the first 90 days

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