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Square Afterpay or PayPal Pay in 4: Which BNPL Service Your Business Should Use

Buy now pay later (BNPL) services are growing in popularity for many retailers.  If you’ve been in store recently, or even online shopping as you go to click ‘proceed to checkout’, you might have noticed a poster or button that advertises how you can pay for your purchase in easy instalments.

Afterpay and PayPal are just two companies that provide BNPL options for customers.  We’ve started to make all our MYOB, Xero and Excel courses available on PayPal’s Buy Now Pay Later platform: PayPal Pay in 4

The best part is that you can use the discount coupons to reduce the price of each course and then pay it on instalments!

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Payroll Training Course Integrations: Square Payroll versus Xero?

Now that paying by card is the norm, retailers have needed to adapt to the cashless customer.  If you’ve been to some local markets recently, maybe a sporting club canteen or even your regular café, you may have noticed that you’re tapping your card on a little white square instead of an EFTPOS machine.

Block Inc. – previously known as Square Inc – is a point-of-sale (POS) system winning over retailers and enterprises across the world.  And it’s not just little white payment terminals, Square offers a range of technology and services that range from POS to payroll to inventory to marketing, AND, they recently purchased AfterPay!

Square integrates with Xero, and considering its popularity, let’s break down what Square is and how it compares to other Xero integrations like Planday.

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Are You Complying With Your Fringe Benefits Tax Liability of up to 47% (especially COVID-19 related ones)?

Do you provide your employees with gym memberships or concert tickets?  Or maybe you work for a company that provides you with a vehicle or accommodation? There are lots of perks that business can provide to their employees outside of salaries and wages – and these are called fringe benefits and they may apply to you if you worked at home due to COVID-19.

FBT is not as simple as handing out freebies.  Employers have to pay tax on these benefits they provide, and the amount can depend on the type of fringe benefit they’re providing. 

We’ve written before about how fringe benefits tax is important to consider when you engage a new worker, but let’s look more in-depth into what fringe benefits are all about, and how to ensure you comply with your liabilities:

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Engaging a New Worker? Here Are The Things You Need To Do, particularly if you’re classified by the ATO as a withholder:

There’s lots to do when businesses engage a new worker.  As an employer, you’ll be busy going through the onboarding process and showing your new employee the ropes, but there are other important things to do when you add a new member to your team.

Keeping accurate records complete with the right information is essential for businesses to maintain, and that means updating and adding data when engaging a new worker.  Here are some things to keep in mind as you go through this process:

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Xero’s Integration With DiviPay Can Help Small Businesses Manage Expenses

Expense management is an important thing to have control of in order to keep a business running smoothly.  But it can be a time-consuming process, full of paperwork, data entry, and chasing up staff members for receipts and invoices.

Xero’s integration with DiviPay promises to make the whole process easier, with seemingly half of it being done by staff members on their mobile phones!

But how does it all work?

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Could This Free Social Media Promotion Work For Your Bookkeeping or Virtual Assistant Business?

Social media isn’t just for selfies and cat pictures anymore.  A quick scroll through any popular social media platform will bring up posts from brands and companies promoting themselves and their products/services.

In their guide to digital marketing, Xero included a quote from a business owner who said the following about her approach to social media marketing:

“I don’t spend money on advertising. I create content aimed at helping my target customer and share it on Instagram or via podcasts. It attracts enough new clients to keep me busy.”

Olivia Park, Olivia Park Coaching

It begs the question: is shareable content the digital marketing that businesses should be focusing on? And not just content the business shares, but content that social media users will then share amongst themselves?

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CommBank and Xero Integration to Help Small Businesses Get Paid Faster

It’s not a secret that in order to stay afloat businesses need to be making money.  Access to funds is essential for businesses to not only pay off debts, but also to finance everyday operations and pay their staff and suppliers.

It can become problematic, however, when a business’ cash flow is tied up in unpaid invoices.  If a business sells on credit – as many do – they might be in the unfortunate position of waiting to get paid by their customer and struggling to make ends meet in the meantime.

There are a few solutions: one is to use credit management apps like ChaserHQ or Debtor Daddy to help automate the process.  Things like chasing up unpaid invoices and escalating debts can be made easier by using these apps that integrate with your accounting software.

The other is to get a loan.  Commonwealth Bank’s (CBA) Stream Working Capital is a digital solution for businesses to access the money tied up in their invoices.  Here’s what you need to know about it:

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ATO’s SUPER GUARANTEE CHARGE Could Slug Employers Extra for Late Super Payments (SG vs SGC)?

For small businesses, getting the administrative aspects of payroll and super in order can be stressful and confusing.  Things need to be paid by certain dates at certain amounts, and failure to comply can have some serious consequences, PARTICULARY when it comes to employees pay and entitlements.

So what does it mean for a small business or employer if they don’t pay super on time?  Here’s what you need to know about the super guarantee charge, and how you can avoid it.

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How are Small Businesses Changing in 2022?

It’s not a stretch to say the last few years have been tough…especially for businesses.  Through lockdowns and restrictions we’ve seen businesses struggle, falter, adapt, and survive. 

Now that we’re in to 2022, and things are (fingers crossed) almost looking normal again, it’s exciting to see how businesses will recover and thrive.

Xero has released a guide to small business trends for 2022, based on surveys they conducted in 2021 of their subscribers in Australia, New Zealand, the UK, Singapore, Canada, and the US. 

Here’s are 10 trends on the rise for small business this year:

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Pandemic Digitalised Small Businesses more than NBN, Xero Report Reveals Numbers?

The pandemic has seen huge changes to the way businesses run, with Zoom meetings and remote working becoming the new normal and working parents are loving it (if they have the space for it).

The common factor here, of course, is the move to digital solutions for businesses.  Whilst ICT expenditure has always formed part of a business’ expenses, the pandemic has contributed to an increase in this area of spending.

Businesses are becoming increasingly digital, and it’s actually improving their performance. One of the areas I’ve noticed is the use of website chat has increased and customer service work can be performed by anyone running a micro business from their own home.

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ALERT: MYOB Essentials Shock New Credit Card Requirement to Trial is Unexpected and Unwanted

Who doesn’t love a free trial?  The great thing about some of the popular accounting software like Xero, QuickBooks, and MYOB is that they provide 30-day free trials where you can use the software at no cost.

It’s great for businesses and contractors wanting to find the right accounting software for them, or for students looking to get experience as they study. 

MYOB didn’t used to require any credit card details when signing up for the trial subscription…but now they do.  Whilst Xero and QuickBooks continue to offer trials with no credit card required, MYOB has diverted from the pack to deliver this unexpected and unwanted change.

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Will This Xero Integration Replace Your Accounting Job or Just Lessen the Load?

With so many integrations, Xero has become a leading software for small business accounting.  From ecommerce add-ons to payroll and workforce management software, there is a Xero integration for most aspects of business management and administration. It’s little wonder that Xero Courses are becoming so popular.

And credit management is no exception.  Chaser HQ is a credit management app that promotes its ability to automate the whole process: from credit checks to chasing up invoices.  It’s a UK-based company, but its integration with Xero could see it being used more and more by accounting staff globally, including Australia.

Daily Transactions like creating quotes and invoices is the bulk of most junior level bookkeeping and accounts jobs and running Accounts Payable and Accounts Receivable Reports then provide work following up with customers so what could this automated process mean for accounting staff that have been doing these tasks manually?

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Get Paid Faster By Using Clear Terms of Trade

The worst-case scenario for many businesses is having to chase up overdue payments from clients.  Not only is it stressful and frustrating for employees, but it can mean cash stays tied up for longer, lengthening the cash conversion cycle.

Considering how many industries – from retail to construction – extend lines of credit to their customers, it’s essential for businesses to know how to collect their accounts recievable with as little time and hassle as possible. 

But what if there was a way to make it easier?

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Sales Tax Simplified With Xero’s TaxJar Integration

Learn How Xero Advanced Certificate Course with EzyLearn Online Courses logo - Taxjar is a Xero integration

Sales tax might not be high on the list of concerns for Aussie businesses since the introduction of the GST in 2000, but if you’re selling to the US it’s a whole different story. 

The US doesn’t have a GST, so each state (and sometimes locality) has its own sales tax rate – which makes it difficult for online businesses to keep track of what they owe and when its due. 

Whilst Xero organises all your e-commerce sales and transactions into an accounting system, it doesn’t account for how much of your income is money collected from your buyers as sales tax – which is money you must remit to the government. 

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16 Apps to Customise Hubspot But Xero Gets the Worst Rating

16 featured Apps in HubSpot Ecosystem and Xero Accounting has lowest rating - Xero Certificate Training Courses for Small Business Owners and Accountants - EzyLearn

HubSpot is a marketing system and CRM built for the modern day content marketing professional. Like most cloud-based services they have their own app store (they call it an ecosystem) and Xero recently boasted about being one of a select group of 16 promoted by Hubspot. They didn’t fair so well though.

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Finally, Xero Acquires an Inventory Management Software Add-on in the US

Xero Inventory Management and Workflow automation purchase Locate Inventory - Learn how to use Xero - Certificate in Xero online training courses - EzyLearn

Xero Accounting software offers inventory management features in their standard software but it has never been spectacular for companies where solid inventory management matters.

I saw that first hand when I was speaking with the owner of a Boating Sales, Repair and Retail business. That business ended up migrating AWAY from Xero and started using QuickBooks Online instead. This changes everything.

Continue reading Finally, Xero Acquires an Inventory Management Software Add-on in the US