Xero eliminates small business payroll pain

17th February 2015

Xero has announced its seamless, all-in-one cloud accounting and payroll solution in front of more than 700 accountants at its annual fintech conference, Xerocon. 

 

 

 

Xero managing director Gary Turner says building on top of its existing online accounting solution, the company is able to do for payroll what it has already done for accounting. “Small businesses have been waiting too long for companies to innovate in payroll and improve their experience, which up until now has been painful.

“We’re now able to offer each of our 60,000+ UK small business customers an innovative solution within Xero that enables more capability than any of our competitors and talks directly to our accounting solution.”

With Payroll in Xero, small business owners and their employees can schedule time off, view payment information and more – from any device, at any time. And for the business owner, there’s no need to worry about submitting RTI to HMRC again, with submissions automatically handled after each payroll, along with PAYE, student loan and National Insurance calculations. The information is then automatically updated in their Xero accounts, with no duplication of data-entry, giving business owners more time to focus on running their business.

“Payroll is typically a costly, dry and time-consuming aspect of running a business, but we’ve built a platform that makes it quick and simple for people to undertake once mundane, manual tasks. And the cost is included within your Xero subscription. “

“For the business owner, running a business is much easier when you combine two of the most critical back office tasks: accounting and payroll. Now small businesses can save time and money by getting exactly what they need in this all-in-one, easy-to-use, seamless accounting and payroll solution.”

Xero’s payroll announcement comes alongside the launch of its business performance dashboard following its recent investment in business intelligence architecture. Using big data for small business to provide a full picture of key financial ratios and performance metrics. 

The company has also today welcomed revolutionary high street bank Metro Bank to its growing network of automated bank feeds, alongside RBS, HSBC, Natwest and Silicon Valley Bank, enabling more small business owners to simplify their workflow processes between accounting and banking.

“In this age where changes to government legislation are constantly making it tougher for UK small business, it is important for us to support our 400,000 small business customers around the world with smart software that will arm them with greater insight, mobility, and control of their core business management,” says Turner. “This is just the start of a new wave of innovation we have planned as we further leverage our powerful accounting platform.”

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