The update we have all been waiting for – prepopulated wages in the Activity Statement report are now available.
Learn more below...
Finally – Xero have solved our biggest issue with the activity statement report! Payroll now links directly to the Activity Statement, however there is some manual updating from your end to ensure this works smoothly.
You will need to manually mark the pay items as reportable at W1 on the activity statement (ie reported as ‘Gross Wages’), and the instructions are as follows:
- Go to Settings, click General Settings.
- Under Features, click Payroll Settings.
- Click the Pay Items tab.
- Click Earnings.
- Click the pay item you want to include as W1 (for example, Ordinary Hours).
- Click the Reportable as W1 on Activity Statement check box.
- Click Save.
For example; you would include ‘Ordinary Hours’, ‘Overtime Hours’, ‘Allowances’ and ‘Commissions & Bonuses’ as reportable on W1 – depending on your business you may have others that need to be included.
More detailed instructions around this can be found here.
Part of the most recent update, you can also manually mark superannuation contributions as paid when using Auto Superannuation and there is Office365 email integration with your contacts now available.
On another note; Xero are currently reviewing their subscription plans, we will confirm these changes in the coming weeks.
If you'd like to discover more about Xero, check out our Introduction to Xero blog.
Alternatively, contact your advisor at HTA Advisory to find out more about this update.