Blog

Sometimes it can be easy to forget the importance accounting has to the success of your business. Your accounts tell you the true story of your business, and are essential in you predicting and shaping the future of your business.

Cloud technology has become more mainstream in recent years, giving small businesses the opportunity to adapt the way in which they work. Here at XO Accounting, we utilise Xero software, which can improve every step of your digital process, including collating, managing and submitting your financial data.

The ATO has become aware of people in some suburban areas of major cities attempting to encourage others to illegally access their super early (generally for a fee) to help them to purchase a car, to pay debts, to take a holiday, or to provide money to family overseas in need. The ATO advises that anyone approached by someone telling them that they can access their super early, or anyone hearing about it from family, friends or work colleagues:

The move to the cloud is often not a question of if it will occur but more likely when it will occur, for most small businesses. So what is the reason for so many businesses embracing online cloud software?

For employers who began using Single Touch Payment (STP) before 1 July 2018, the ATO has provided further information regarding employee pay summaries for 2017/18 and how they may change using STP, including:

XO Accounting has received their award for elevating to Platinum Status as a Xero Partner.

The growth of identity theft and in particular Tax File Number theft on the rise XO Accounting have increased our efforts in keeping our client’s data safe.  Recently XO Accounting partnered with Practice Protect to install their state of the art Cyber Security App to manage our firms data security.  The App allows us to meet some of the world’s most stringent data security accreditation and monitoring programs. 

Recently it was announced by Xero that XO Accounting had been elevated to their highest level of Partner Status of Platinum which reflects XO Accounting’s ongoing commitment to the benefits that Xero software brings our clients and our practice as a whole. 

As well as the Platinum Status we have also retained our Xero Champion Status which is an acknowledgement of our knowledge and expertise of Xero’s software.  Over the past 6 months XO Accounting staff have all undertaken Xero Adviser Certification with the goal of also being certified in Payroll and Migration by the end of 2018.

Want more insight into the workings of Xero accounting software? Whether you are switching software or using one for the first time, we at XO Accounting know that learning a new online system can be a challenge. 

Back in early April the Four Corners program aired a segment on the conduct of the ATO.  A large portion of the program was devoted to the ATO management's instructions to staff to ignore their own guidelines and issue more Garnishee Notices as they were behind on the year end revenue targets.