Xero Simple
Xero has introduced a new plan called Xero Simple, designed to assist small businesses and their advisors in preparing for the upcoming Making Tax Digital for Income Tax (MTD for IT) requirements. Effective from April 2025, this plan will be available to accountants and bookkeepers, with general availability to small businesses starting in summer 2025.
Key Features of Xero Simple
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Invoicing and Quotes: Create and send up to 10 invoices or quotes per month.
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Data Capture with Hubdoc: Effortlessly capture bills and receipts.
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Bank Transaction Import: Automatically import bank transactions for reconciliation.
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Bank Reconciliation and Reporting: Automate bank reconciliation and generate financial reports.
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Client Access: Invite clients into the plan for collaborative management.
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MTD for IT: Send quarterly updates and final declarations directly from Xero (beta version available from April 2025, subject to registration and eligibility).
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Compliance with Xero Tax: Streamline accounts and tax returns.
Existing non-VAT Xero Cashbook subscribers will be seamlessly migrated to Xero Simple in April 2025, gaining access to these new features at no additional cost.
If you need assistance with transitioning to Xero Simple or have questions about its features, feel free to ask!