A quest of quizzes - Keeping up with Kam Part 2

A perilous journey full of quizzes and curses, join us in the second installment as we follow Kam to Mordor and back ...

3 Quizzes down and boy has it been an adventure! As an avid Lord of the Rings (LOTR) fan I found my journey to complete the quizzes easily comparable to the different challenges the characters from LOTR faced during their trials. Much like Frodo, I too had some helpers who led me along my merry way.

I’d like to take this time to thank my partners in crime. Firstly Ian, who is also currently completing his CA with me, he has been the Sam to my Frodo, always pointing me in the right direction and being there to whisper sweet, sweet answers into my ear. Secondly, to Anthony, who much like Gollum tried to be helpful but in the end was more of a hindrance than a help, thanks for the encouragement! 

Finally, a big thank you to Reginald Winterbottom, the Gandalf of my world, your kind and wise words are ever a great source of motivation for me!

Quiz 1 and 2 started off well, very much like the fellowship did when it set off from Rivendell. Much of the content from the first 2 quizzes was familiar to me as it is similar to the work and issues I deal with on a daily basis. As the story in LOTR progresses, so too does the difficulty of tasks faced by the characters (in this case the quizzes!).

Quiz 3, much like the final leg of Frodo’s journey through Mordor was the toughest of the three. While I was familiar with some of the topics covered, there was a lot of new content and issues that usually aren’t applicable to small to medium sized businesses, but it was great to learn about some new and exciting foreign concepts. 

Overall, the quizzes were a good way for us to test to our knowledge prior to the final exam. A few tricky questions but it sure didn’t make a “fool of a Took” out of us!

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Della Nicholson

Della Nicholson Accounting is a boutique accounting firm in Wynnum Manly, Brisbane. Specialising in accounting & taxation services, bookkeeping, web based software and e-commerce. We concentrate on providing superior personalised service to clients and producing high quality services in a timely manner. We would genuinely love your business. Call us today +617 3396 8868. Member of the Institute of Chartered Accountants in Australia, Registered Tax Agent, Registered ASIC Agent, Taxation Institute of Australia Chartered Tax Advisor.

Changes to Xero's standard and premium pricing plans in Australia

Earlier this year Xero publicly announced that they would be updating their pricing plans effective June 2, full details are listed below for you.

Because Xero lives online, updates and new features are delivered automatically – unlike the clunky and expensive upgrades required for desktop software.

Innovative payroll for small business

Processing payroll can be time-consuming and complex – basically, a major headache for business owners.

Payroll in Xero makes it easy to manage your payroll from anywhere. It saves hours of administrative work and lets you lodge reports with the ATO – all from within Xero. Your payroll data automatically appears on your general ledger after a pay run to help keep your accounts up-to-date.

Payroll has rapidly evolved with significant updates in the last two years. Here are some of the recent highlights:

Seamless and compliant superannuation

Auto-super on premium plans automatically makes contributions to different super funds for your employees. Xero’s auto-super is gold-level certified for SuperStream, the ATO’s new superannuation payments standard. All businesses need to use a SuperStream compliant service by 30 June 2016.

Mobile app that cuts the paperwork from leave requests and payslips

With Xero Me, their app for payroll users, employees can request leave and managers can approve or decline it – all from their mobile. Xero Me saves on administration because employees can view their pay history and submit timesheets from anywhere.

Pay out unused leave when employment ends

Save time and hassle by processing final earnings, unused leave balances and any redundancy payments in a single pay run. Increase accuracy because tax on unused leave is calculated automatically.

Easily view and manage leave

It’s now simpler to view accrued leave and opening balances, and leave requests are automatically included in applicable payruns.

And they’re not stopping there

They’re committed to constantly improving what they offer their payroll users. Here are some of the features they’ll launch in the coming months:

  • PAYG and withholding tax will automatically appear in the current activity statement
  • Bonuses and commissions will be supported. 
  • Employment termination payment summaries can be produced and lodged with the ATO from Xero

Plus there’s much more in the pipeline.

Adjusting prices to reflect greater value

They’ve reached a point where their prices no longer reflect the strength of payroll and what’s to come. For these reasons, they’ve adjusted the prices of their plans in Australia.

From 2 June 2016, our pricing plans for all existing and new subscribers will be:

The biggest change is to the standard plan, where the limit of payroll employees reduces from five to one. For businesses with two to five employees, they’ve introduced a Premium 5 plan. Premium 5 has up to five payroll employees and the advanced features of auto-super and multi-currency, for $60 per month.

If you’re on a standard plan and do a pay run for more than one employee in May, you’ll be switched to the Premium 5 plan on 2 June. Otherwise, you’ll remain on the standard plan.

Existing and new premium plans will increase by $10 per month. If you’re on Premium 10 for multi-currency and haven’t ever done a pay run in Xero, you’ll be moved to the Premium 5 plan on 2 June and won’t have a price increase.

There are no changes to starter or partner edition plans.

No matter how this pricing change affects you, it’s a great time to review your needs and make sure you’re on the Xero plan that best fits your business. 

Like to know more?

For more information about the price changes, or if you have any questions about your current plan and whether the changes affect you, give our team a call on 07 3396 8868 and we would be answer any questions or concerns you might have. 

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Della Nicholson

Della Nicholson Accounting is a boutique accounting firm in Wynnum Manly, Brisbane. Specialising in accounting & taxation services, bookkeeping, web based software and e-commerce. We concentrate on providing superior personalised service to clients and producing high quality services in a timely manner. We would genuinely love your business. Call us today +617 3396 8868. Member of the Institute of Chartered Accountants in Australia, Registered Tax Agent, Registered ASIC Agent, Taxation Institute of Australia Chartered Tax Advisor.