First up, thanks to the small businesses, bookkeepers and accountants who’ve joined the Xero revolution. We couldn’t have got this far without your support. You chose Xero because you wanted a better way of doing business, and we’re working hard to deliver innovative new features, partnerships and products to you.
Creating and implementing game-changing ideas is what drives and inspires us. And it’s not just talk – Forbes ranked Xero as the World’s Most Innovative Growth Company in 2014 and 2015, and we were BRW’s Most Innovative Company in 2014.
We’ve channeled over $100 million into the Xero platform in the last two years, made hundreds of product updates, and added powerful new features and integrations. Because Xero lives online, updates and new features are delivered automatically – unlike the clunky and expensive upgrades required for desktop software.
Innovative payroll for small business
Processing payroll can be time-consuming and complex – basically, a major headache for business owners.
Payroll in Xero makes it easy to manage your payroll from anywhere. It saves hours of administrative work and lets you lodge reports with the ATO – all from within Xero. Your payroll data automatically appears on your general ledger after a pay run to help keep your accounts up-to-date.
Payroll has rapidly evolved with significant updates in the last two years. Here are some of the recent highlights:
- Seamless and compliant superannuation
Auto-super on premium plans automatically makes contributions to different super funds for your employees. Xero’s auto-super is gold-level certified for SuperStream, the ATO’s new superannuation payments standard. All businesses need to use a SuperStream compliant service by 30 June 2016.
- Mobile app that cuts the paperwork from leave requests and payslips
With Xero Me, our app for payroll users, employees can request leave and managers can approve or decline it – all from their mobile. Xero Me saves on administration because employees can view their pay history and submit timesheets from anywhere.
- Pay out unused leave when employment ends
Save time and hassle by processing final earnings, unused leave balances and any redundancy payments in a single pay run. Increase accuracy because tax on unused leave is calculated automatically.
- Easily view and manage leave
It’s now simpler to view accrued leave and opening balances, and leave requests are automatically included in applicable payruns.
And we’re not stopping there
We’re committed to constantly improving what we offer our payroll users. Here are some of the features we’ll launch in the coming months:
- PAYG and withholding tax will automatically appear in the current activity statement
- Bonuses and commissions will be supported
- Employment termination payment summaries can be produced and lodged with the ATO from Xero
Plus there’s much more in the pipeline.
Adjusting prices to reflect greater value
We’ve reached a point where our prices no longer reflect the strength of payroll and what’s to come. For these reasons, we’ve adjusted the prices of our plans in Australia.
From 2 June 2016, our pricing plans for all existing and new subscribers will be:
The biggest change is to the standard plan, where the limit of payroll employees reduces from five to one. For businesses with two to five employees, we’ve introduced a Premium 5 plan. Premium 5 has up to five payroll employees and the advanced features of auto-super and multi-currency, for $60 per month.
If you’re on a standard plan and do a pay run for more than one employee in May, you’ll be switched to the Premium 5 plan on 2 June. Otherwise, you’ll remain on the standard plan.
Existing and new premium plans will increase by $10 per month. If you’re on Premium 10 for multi-currency and haven’t ever done a pay run in Xero, you’ll be moved to the Premium 5 plan on 2 June and won’t have a price increase.
There are no changes to starter or partner edition plans.
No matter how this pricing change affects you, it’s a great time to review your needs and make sure you’re on the Xero plan that best fits your business.