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Using Xero to Make Taxation Easier

Written by | Published on 22nd February 2015 | 3 min read

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Using Xero to Make Taxation Easier

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Using Xero to Make Taxation Easier

Our Xero integration makes it easier for our you to deal with tax-related concerns. Xero has over 40 financial reports including profit/loss, tax returns, depreciation schedule, foreign currency gains and losses.

Financial reporting tool

With this feature of our Xero integration, you can view and share interactive reports and budgets in real time – no more waiting for the end of the month. This means that you can complete tax returns in minutes.

Tax Rates

This feature shows the tax rates you’ve set up for the organisation so that you can amend/record specific tax amounts on invoices, tax amounts on invoices, bills, and transactions that you enter into Xero. Setting your own tax rates is available for all countries, however for New Zealand, Australia and the UK, there are some pre-set tax rates already in Xero. You can have as many tax rates as you need as each tax rate can have multiple components if required, for example sales tax, state tax and import tax.

Use Xero Workpapers

Xero Workpapers (which is free for Silver partners) is an online tool that makes thee year-end compliance process quicker and easier. Data is exchanged between Xero and Workpapers so changes only need to be made in one place, and the information needed to complete your year-ends is imported from Xero. You can also use this tool to work with your clients online, so there’s no need for paper copies.

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Written by Jodie Pride

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