Business growth is an exciting prospect, but it can also be tricky. If you are looking to grow your business, here are some things you should consider.
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Business growth is an exciting prospect, but it can also be tricky. If you are looking to grow your business, here are some things you should consider.
Continue readingVisit MBIE’s website for more information about increased sick leave entitlements.
You need to review and update your employees’ records to account for the new minimum sick leave entitlement. Xero automatically assigns one of the following sick leave statuses to an employee’s record based on their next anniversary date:
Choose the the correct Sick leave status below and follow the steps to update your employee’s record.
Employees with the sick leave status Needs review have their next sick leave anniversary on or after 24 July 2021 and either:
To review and update the sick leave entitlement for each employee with Needs review status:
Repeat the process for each employee with Needs review status.
Employees with the Minimums met status have their next sick leave anniversary on or after 24 July 2021 and:
We recommend reviewing these employees’ employment agreement to determine if they are entitled to more than the minimum.
If you need to make any adjustments to these employees’ annual entitlement, for each employee with Minimums met status:
Repeat the process for each employee with Minimums met status.
No action is required at this time for employees with a Review Later status. Their next sick leave anniversary falls before 24 July 2021.
When these employees have been included in a pay run that spans their anniversary:
Once the employee’s anniversary has been included in a pay run, return to the Sick Leave Review tab to review the employees status and make any updates needed.
For the whole of February, Xero is hosting a stack of free online webinars to help you brush up on your business smarts, learn how to improve your resilience and foster wellbeing in your team.
Here’s what you’ll learn
It’s a chance to dive into topics like:
For these topics and more, register here.
Can’t make the live sessions?
If you can’t make it to the live webinars, visit Xero Central to watch the recordings. They will be available from 3 March to 3 April 2021.
These webinars are designed for everyone, so let your team know and help them get a better understanding of how Xero helps power small businesses around the globe.
It’s been a tough year for small Kiwi businesses, so it’s always nice to get a little bit of good news. Last month Xero announced changes to its Starter plan, the entry-level Xero monthly subscription – a way to support small businesses during the pandemic as on-the-go accounting is more important than ever.
Check out the upgrades to the Xero Starter plan, effective from September 14, 2020:
Previously | Now | |
Bank reconciliations | Limited to 20 per month | Unlimited |
Invoices | Limited to 5 per month | 20 per month |
The Starter plan is $27.50 per month, although new users can pay $13.75 per month for the first four months – and you can try Xero for free for 30 days. Remember that if you’re an SME Financial client, you get a discount on your Xero subscription, which we pass onto you.
The bank reconciliation feature keeps your numbers accurate, and you can set up bank rules to automatically reconcile regular transactions, saving you time. You also have Hubdoc, which means you can automatically get bills and receipts into Xero, making reconciliation easier. With the new higher limit on invoices, the Starter pack means you can send an invoice almost every working day of the month. Check out this video for invoicing shortcuts, and don’t forget to set up automatic reminders to help you manage outstanding accounts.
With these changes, the Starter plan is perfect for small businesses. It is designed to provide you with the flexibility to grow, at an affordable price. The Starter plan might be ideal if you’re a sole trader, a freelancer, contractor or tradie. It might even work if you’re a better-established small business owner doing only a small number of invoices each month. A few of our clients are switching from the Standard plan at $60 per month down to the Starter and saving themselves over $30 a month.
SME Financial is a Xero Gold Partner, which means our team gets a high level of training and support from Xero. We pass on that knowledge to our customers through our Xero training services and ongoing Xero support.
You can explore all the features here, and the changes are already in place so if you’re currently a Starter pack user you can start using them right now.
Questions about Xero? Wondering whether you’re in the right plan for your business needs? We can help. Get in touch with SME Financial today.