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1. Tax - Multi-VAT tracking for EU companies

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   submitted  ·  8 comments  ·  For small businesses » Accounting features  ·  delete…  ·  Admin →
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   Hans de Ruiter commented  ·  09 May, 2024  ·  Edit…  ·  delete…

   I'm looking into this issue right now. The minimum solution for me, would be for the WooCommerce Xero plugin to assign all VAT/GST/sales-tax from other jurisdictions to accounts other than NZ GST. That would enable me to submit my GST returns without needing any messy adjustments.

   EDIT: There's a help doc for how you can handle this at present: https://central.xero.com/s/article/File-a-GST-VAT-or-sales-tax-return-in-another-country

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   Hans de Ruiter supported this idea  ·  09 May, 2024

2. Multicurrency - Support for new currencies & Bitcoin

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   45 comments  ·  For small businesses » Settings & user roles  ·  delete…  ·  Admin →
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   submitted  ·  AdminMark Blundell (Admin, Xero) responded

   Hello I am the product manager for the group within Xero which looks after the currency capability.

   I follow the digital currency space closely, I find it incredibly interesting both sociologically as well as technically. However as a product manager my role is to ensure that my engineering group works on the things that create the most value, for the most people, and in alignment with the company's long term goals and aspirations.

   Digital currencies continue to have an extremely passionate, but also extremely small group of users who want to see them handled in Xero. The cost remains very high for us to deliver this feature, and does not make a difference to enough peoples lives to justify that investment. There are a lot more touchpoints than many people appreciate to implement crypto properly. Huge decimal precision, UX, currency rate feeds, revaluation logic, reporting - all need changes to support this in the way that needs to be done to allow proper accounting.

   Digital currencies aren’t prioritised in the next year, but our group is working on other initiatives which lay the groundwork so that in the future I truly believe we will be able to justify working on crypto, and that what we produce will be world class.

   I continue to monitor this thread and I look forward to sharing news that is more in line with what you hope for in the future.

   Hello I am the product manager for the group within Xero which looks after the currency capability.

   I follow the digital currency space closely, I find it incredibly interesting both sociologically as well as technically. However as a product manager my role is to ensure that my engineering group works on the things that create the most value, for the most people, and in alignment with the company's long term goals and aspirations.

   Digital currencies continue to have an extremely passionate, but also extremely small group of users who want to see them handled in Xero. The cost remains very high for us to deliver this feature, and does not make a difference to enough peoples lives to justify that investment. There are a lot more touchpoints than many people appreciate to implement crypto properly. Huge decimal precision, UX, currency rate feeds, revaluation logic, reporting - all need changes to… more

   Hans de Ruiter supported this idea  ·  01 December, 2023