Monday, January 05, 2015
Is the Tax Return and financial reporting aspects of Xero PM now up and running? If not, what is the expected timeframe?
Cloud Financial Reporting: At Change Accountants and Advisors we use Xero for financial reporting. We have 100% of our clients on Xero and this is how we did it. I believe you missed the initial wave of opportunity 3 years ago where a lot of Businesses moved from MYOB (and their non Xero Accountant) to Xero and a pro-cloud firm like Change. I believe the second wave is happening NOW, the difference is that a lot more (not all) Accountants are now Xero savvy.
Cloud Tax: At Change Accountants and Advisors we are currently using a blend of HandiTax and Xero Tax.
Xero Tax currently has Individual Returns, Companies and Partnerships. We hope the remaining forms will be complete in early 2015, so our Accountants can start testing.
Once we’re comfortable with Xero Tax we’ll be able to turn off our HandiTax subscription, once and for all!
Can ATO prefill reports be imported into Individual tax returns?
Yes! Read more on the release here - https://www.xero.com/blog/2014/10/australian-tax-roadmap-ato-prefill-individual-tax-return/.
Posted by Joe Winston
on Monday, January 05, 2015