We have company clients that are Australian subsidiaries of overseas companies. Some now require General Purpose - Reduced Disclosure (instead of Simplified Disclosure), some require full General Purpose financial statements.
For the latter, we have always had to go outside of Xero to prepare their financial statements and reports. We have previously used Thomson Reuters for this, but they are too expensive, and they are still not compliant at this stage - we have to transpose into Excel, and amend. Very time consuming.
For the former (GPFR-Reduced Disclosure), we now have to go externally also.
But, for both, adaptation/modification within Xero would not be difficult, if it was available, because Xero is far more easy to work within than, say, Thomson Reuters.
We have company clients that are Australian subsidiaries of overseas companies. Some now require General Purpose - Reduced Disclosure (instead of Simplified Disclosure), some require full General Purpose financial statements.
For the latter, we have always had to go outside of Xero to prepare their financial statements and reports. We have previously used Thomson Reuters for this, but they are too expensive, and they are still not compliant at this stage - we have to transpose into Excel, and amend. Very time consuming.
For the former (GPFR-Reduced Disclosure), we now have to go externally also.
But, for both, adaptation/modification within Xero would not be difficult, if it was available, because Xero is far more easy to work within than, say, Thomson Reuters.
Thank you.