Powered by MOMENTUM MEDIA

Website Notifications

Get notifications in real-time for staying up to date with content that matters to you.

Xero announces price freeze, tax-time features

The accounting software provider has now announced a price freeze across its plans in response to COVID-19, alongside new software features ahead of the upcoming tax season.

Technology Aidan Curtis 05 June 2020
— 1 minute read

Xero will now halt any price increases to its plans in light of the current COVID-19 situation, with any future increases to be communicated to customers 90 days in advance.

Advertisement
Advertisement

In an email to users, Xero said it recognised the need to support its partners and small-business customers, noting that the delay in any price rise would “help them manage costs and cash flow during these times”.

Separately, Xero has also announced a number of new software features as it looks to address increased levels of remote working for tax time.

The new features include document packs, automated business activity statements and new chart of accounts templates.

Xero managing director Trent Innes said the new features come as the profession expects a tough tax season in light of the COVID-19 crisis.

“This tax season will be one of the toughest on record for Australia’s accounting and bookkeeping community, with their small-business clients dealing with the ongoing impacts of COVID-19 on the heels of a catastrophic bushfire season,” Mr Innes said.

“We want to give advisers the tools and workflows they need to be able to work more efficiently so they can spend the time saved on guiding small businesses through this period.

“These new cloud-based tools mean they can more easily automate their compliance workflows and onboard new clients faster.”

One of the new features includes tax agents being able to opt to receive email notifications from the ATO when a client receives a Notice of Assessment.

Mr Innes believes the changes will help navigate remote working by enabling the virtual signing of financial documents and tax returns.

“In a time of social distancing, legacy desktop isn’t able to meet the needs of those working remotely,” he said.

Xero announces price freeze, tax-time features
image intro
accountantsdaily logo
Technology
FROM THE WEB