Xero, developer of online accounting software, announced plans to roll out an integrated payroll feature in the U.S. The announcement was made at the company’s inaugural U.S. Xerocon in San Francisco.
The new Xero payroll will seamlessly integrate with Xero’s accounting software. The offering will feature automatic tax calculations, direct deposit and checks, a mobile employee payday app, electronic tax filings and payments and an open API platform. Xero’s payroll solution will help streamline workflow between accountants and their small businesses clients.
“With Xero’s payroll solution, small businesses get a general ledger that is updated in real time with all their payroll information. At the same time, employees can use the employee portal or mobile app to submit time sheets, request time off and access pay stubs – anywhere, anytime,” said Jamie Sutherland, Xero US President.
Xero payroll is designed to make it easy to collaborate and maximize efficiency by removing manual data entry and external exporting and importing of client payroll data. Small business owners will be able to manage payroll from anywhere, giving them true mobility. Xero payroll will support all the accounting functions Xero currently supports plus direct deposit, check printing and federal and state filing. State filing will initially be available in California before rolling out to other states. In addition, employees can use the app to submit time sheets and schedule time off right from their mobile device.
“Now small businesses and their financial advisors can calculate payroll, pay staff, file tax returns and make payments electronically with Xero. Because this system was built from the ground up, our payroll solution syncs seamlessly so your books are updated automatically,” said Stuart Mcleod, Xero VP of Global Payroll.
Xero payroll is scheduled for release in early December. To help customers prepare for the launch, Xero is embarking on a 20-city road show starting October 21 and hosting a series of webinars and how-to videos.
“The addition of payroll strengthens Xero’s comprehensive, seamless accounting platform and eliminates the need for time consuming, manual entry processes for small businesses,” said Sutherland. “No company has done this before. It is an absolute game changer that brings total transparency to the financial spectrum.”