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!
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.
If you’re an independent contractor you’re a business owner
As an independent contractor, operating with an ABN, you’re effectively running your own small business (so working capital important), and that means you’re subject to some of the same reporting obligations for the ATO as other small businesses are.
The only real difference is that as an independent contractor, your business model is a lot simpler to other ones.