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Tips for Cash Flow Forecasting using Xero

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We’re approaching the end of the financial year and everyone will be reading and trying to understand their annual financial reports, particularly if they have outstanding Superannuation to pay (and claim) or they need funding.

I’ve written in the past about how to create a cashflow forecast using Xero and Excel and this post is a summary of good practices and recommendations when it comes to cashflow reporting

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Business Owners Learn MYOB & Xero with EzyLearn ANSWERS

Many accounts are affected when you pay an employee - Journal Entries - MYOB & Xero Bookkeeping Courses - EzyLearn

Business owners who need to learn how to use MYOB and Xero like the added support that is available if they have a question that relates to their own business.

Unlike Job Seekers who choose MYOB and Xero COMPLETE training courses to learn as much as they can about these bookkeeping programs, Business owners often have questions which relate to things they want to resolve in their business.

Most of the questions students have are solved as they progress through the logical order of the courses we’ve created but sometimes things get a little weird.

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QuickBooks Payroll brand is changing to Employment Hero

Employment Hero owns KeyPay - workforce management training courses and employee benefits, loyalty and team building - EzyLearn

Intuit revealed the name change to their QuickBooks Payroll customers today as part of an acquisition of KeyPay owner by Employment Hero.

If all that didn’t make sense the only real change here is that KeyPay will be rebranded as Employment Hero. Employment Hero has been around since 2014 and purchased KeyPay owner, Webscale Pty Ltd in 2021.

The messy part of this from my perspective is that Intuit, who owns Tsheets is now depending on Employment Here for their payroll solution. It also means that we now have an Employment Hero training course 🙂

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Deputy, KeyPay, Square Teams, QuickBooks Time Training Course NOW Available

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These are the market leading workforce management integrations for rostering, scheduling and time and attendance monitoring. Deputy was one of the first but the major accounting software companies are now snapping them up.

The most interesting story here has been KeyPay. I’ve loved the fact that Intuit partnered with the Australian company KeyPay to provide all of the local Australian payroll functionality in their QuickBooks Online software. Tsheets would also have been in this list but you know what happened to them..

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Does Xero Integrate with Twitter? Why?

Make enables integration between Xero and Twitter - Xero Training Courses from EzyLearn & Career Academy

My last blog post was about the different ways that Twitter can make money. One of the most compelling reasons that I read about recently was as a payment gateway like WeChat. Apparently WeChat is a SuperApp that does lots of things and Elon Musk was impressed by it when he learnt about it in a visit to China to open his Tesla Gigafactory there.

Naturally I dug a little deeper to see if Xero currently integrates with Twitter and it does but not for payments.

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MYOB Touting Business (Essentials) Pro and Lite through Westpac – 12 months for FREE

MYOB Business Essentials (Lite and Pro) Training Course & Bookkeeping Certificate - 12 months FREE software with Westpac - EzyLearn Bookkeeping Academy

It’s Christmas season once more and you can even get a great deal on your MYOB Business Lite or Pro accounting software if you have an eligible Westpace account.

There are some exceptions, however, and these exceptions show where all the accounting software vendors are making their money: Payroll, Inventory and deeper functionality through integrations.

This is not the first time MYOB have partnered with a major corporation to get its software promotions sold. The last one I wrote about was when Telstra was pimping it last year. This offer is different..

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Xero Prices Increase By $2 Again But No New Features – Are They Desperate for Cash?

One of Australia’s most popular small business accounting software has upped its pricing again, but with no new major added features for users (like when they included Hubdoc features in a previous hike).

Xero has announced that from September 1, 2022, three of its plans will increase in price, with the smallest increase at $2/month through to a $14/month hike.

So why are Xero prices increasing and what does it mean for users?  Xero has some pretty expensive recent purchases, and their share price is still declining, so could this spell financial troubles for Xero?

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The Best Xero Course in Australia

Xero COMPLETE Training Courses Online Suite - EzyLearn

The ‘Best Xero Course in Australia’?!  That’s a pretty big claim.  You might be wondering how EzyLearn can attach this line to our Xero courses, and what actually makes our courses the best?

Well, it’s not just because EzyLearn has over 25 years’ experience in developing training content and helping students achieve their goals.  And it isn’t just the feedback we’ve been getting from our course graduates about how their course helped them find work, upskill, and gain confidence.

EzyLearn’s market research helps us to see what people are looking for in a course, what other business offer, and what pricing is best.  But what is market research, and how does it lead to our Xero courses being the best in Australia?  Here’s what you need to know:

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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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Planday for Xero or Square Team Management: Which Should Your Business Use?

Physical timesheets and all the manual data entry of employee scheduling is a hassle.  Even with technology like email and text, it’s always a task to try and figure out who swapped shifts with who and coordinate a schedule that works for all your employees.

Workforce management software like Planday and Square Team Management have become popular alternatives.  Planday is now owned by Xero, and Square Team Management is a service offered by digital payment company Block Inc. (formerly known as Square Inc.)

But which one should your business use? Let’s go through some of the main features you’d expect of a workforce management software, and see how Planday and Square Team Management compare:

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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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Why is Xero Saying Your PayPal Bank Connection Needs Updating?

If you’ve connected PayPal with Xero, and have been using it for quite a while, it might come as a bit of a surprise when you get an email from Xero telling you that your existing PayPal direct bank connection will no longer be supported and will stop importing transactions into Xero.

Why is Xero emailing you this?  Especially considering there’s a timeframe in which you need to switch to the new PayPal bank connection, you’re probably eager to figure out what it all means.

Don’t stress, here’s what you need to know.

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Here’s What Businesses Need to Know About eInvoicing in Xero

Invoices can be a hassle for both businesses and their clients.  There’s nothing fun about chasing up that client about their late payment, nor is it an efficient use of time to trawl through emails and  inboxes trying to find that invoice from however long ago.

The Commonwealth Government is pushing ahead with an alternative, that looks like it will make things a bit easier for everyone.

eInvoicing is on the rise!  And since software like Xero has jumped in on the change, it’s important for small businesses to know what eInvoicing is all about:

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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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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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Xero Announces New Product Features – EzyLearn Offers 12 months Course Access and Support!

New year, new Xero features! 

Xero has recently announced its updated product features, and they include improvements to integrations, interfaces, and information.

We updates our Xero Training Course content regularly and every student gets 12 months course access and support – this includes access to all updated and additional course content. Here’s a rundown of recent changes Xero have made to their software.

Continue reading Xero Announces New Product Features – EzyLearn Offers 12 months Course Access and Support!