Today, Xero announced the availability of improved financial reporting tools for small businesses and their advisors across Canada. PwC Canada’s Cashflow Coach is now available for the Canadian market on the Xero app marketplace to help small business owners and startups take control of their cash flow management challenges.

Xero has also released two new cash flow management tools – business snapshot and short-term cash flow – to help small businesses and their advisors easily view key financial metrics and insights.

Cash flow is the life blood of any business, and it’s an area where many small businesses are feeling vulnerable with today’s economic uncertainty. Maintaining a healthy cash flow can make all the difference, and we’re proud to provide small businesses with a variety of options. This includes Xero’s financial reporting tools and the Cashflow Coach app so business owners can feel confident about their financial position. It also

I’m pleased to see governments in Singapore, Hong Kong and Malaysia stepping up to launch more dedicated SME (small and medium-sized enterprise) digitisation grants to back digitisation of small businesses. These grants support those impacted by COVID-19 to diversify their business models. In most cases, this means moving into the cloud. 

In response to this, I’m excited to share that we have extended our partnership with DBS Bank, one of the Singapore Government’s Start Digital Partners, to encourage more SMEs to adopt cloud-based accounting and software services in Singapore through their Start Digital Pack. We launched a similar partnership with OCBC under their Start Digital Initiative last year. 

COVID-19 has underscored the importance of cloud-based offerings over legacy desktop. If you are thinking the same for your business, here are digitalisation grants you may be able to take advantage of: 

  • Singapore: Heng Swee Keat, Deputy Prime Minister and

With the challenges that COVID-19 has brought, the advisor community has experienced a phenomenal increase in workload. Speaking to accountants and bookkeepers, they all say they have been run off their feet. They are making a difference, helping clients apply for wage subsidies and loans, preparing cash flow forecasts and scenario planning the list goes on.

Advisors have quickly changed the way they work with clients. Some are interacting weekly or fortnightly, providing more regular assistance with cash flow and acting as a financial sounding board for small business owners. Some have been, and still are, dealing with really tough circumstances and the fallout that follows. While there’s no silver bullet for businesses experiencing a downturn due to COVID-19, it’s become essential to track real-time data on a daily basis, to run regular cash flow forecasts and to seek expert advice.

I’d like to think that this season has

During this challenging period, many small business owners and their advisors have been busier than ever. But while the impact of COVID-19 continues to be felt, the requirements of year-end remain. And, now more than ever, it pays to be prepared. 

As part of our series, ‘The sum of us’, the Xero team is exploring the relationships that pave the way for mastering tax time. Today, we’re speaking to Melbourne-based BAS agent Line Paras of Counting Clouds and accountant Tony Nagle of Nagle Accounting to uncover not only how they take on year-end together, but why they couldn’t do it without each other.

How did your collaboration begin?

Tony: Line and I got to know each other about four years ago because we had mutual clients. It turned out we both specialise in creatives – artists, musicians, craftsmen. It might be a sole trader who just bobbles along for

I recently had the pleasure of hosting a live session on LinkedIn where we discussed the latest trends and strategies for businesses looking to sell online. We were joined by Stephen Rogan, from e-commerce platform Shopify, who provided great insight and practical advice on how to set up and grow an online business.  

So without further ado, here are the key takeaways from the session. You can watch the recording below, or download our dedicated guide to access a host of practical tools to get going with your online business.

Setting the scene

Over the past few months, most businesses have had to rethink how they reach their customers online. “There was no planning for this… and the fact that so many businesses have been able to grow during this time is a credit to what they’re doing,” said Stephen. 

When it comes to common trends and themes, Shopify

Xero App Partner Guest Blog, written by Troy Brown, Founder at XBert.

It’s been a few months since the world was thrown into crisis. Some businesses have collapsed and suffered, while others have adapted and transformed. One thing is true for all business will never be the same.

Can businesses not only survive this crisis, but emerge stronger, more sustainable and better prepared for future challenges?

From my experience, quality data, efficient accounting workflows and ongoing collaboration between owners, bookkeepers and accountants are all essential for business survival. I learned this the hard way, in the wake of the global financial crisis (GFC), when my company went from $1million profit to $1million dollar loss. Now we’re faced with a more far-reaching and destructive crisis propelled by lockdowns and a global health pandemic.

While the GFC severely impacted my company, it was poor decisions (due to inaccurate financials), lack