It is now official, all businesses no matter how many employees they have will be required to electronically file each pay run with the tax office using Single Touch Payroll (STP) as of July 1. With 40% of the nation’s workers employed by small businesses, this is a big opportunity for cloud-based solutions to overhaul the efficiency of your small business.
Xero has been the royalty of cloud-based solutions for some time now, with STP being only two clicks away. For the 90,000 businesses yet to embrace any software, this is a great time to start looking.
What does this mean for micro-businesses?
As of last week, Xero announced a standalone solution for micro-businesses with four or fewer staff. This payroll-only product will process, pay and report information for up to four employees, with an expected price of just $10 a month (what a steal!).
Did you know RA Business Advisors are long term Partners with Xero? If you want to hear more about what Xero can do for your business, give us a ring on 07 3367 0852 or email your questions through to mail@raaccountants.com.au