Xero, one of the leading accounting software providers, is making some changes to their Premium plan pricing and the payroll for their Standard plan subscriptions.
Xero, which was voted the most-loved accounting platform for three-years running, announced in a recent article that these changes would come into effect from 28th September 2018. We have outlined the key changes below.
Price Increase
Xero will be increasing their prices to reflect the improvements that they’ve made to their product and to reflect the cost of servicing larger subscribers on a per-employee basis. Starter and Standard plans will not be affected by this price rise. However, Premium plan holders will experience changes to their billing amounts.
The Xero team have highlighted that it’s been a while since their last price rise.
“Since early 2016, we’ve devoted almost $250 million to research and development including new regulatory compliance such as Single Touch Payroll. We don’t adjust prices often, but we do revisit them from time to time to ensure they’re aligned with the value we’re delivering.”
Standard Plan
Another change that Xero will be making is to expand the payroll for its Standard Plan subscription level. If you’re on a Standard plan level subscription, you will now be able to do payroll for two employees, rather than just one which the current levels offer. “As small businesses add their first employees, they can be even more confident of keeping costs down,” advises Xero in a recent article.
What does this mean for me?
If Walker Hill holds your subscription and you’re on a Premium plan
If you’re on a Premium plan subscription with Xero, you will still receive your 15% discount on the adjusted price.
We will send you an updated engagement letter in the week beginning Monday 17th September 2018, which will need to be accepted to confirm payment of the new amount.
If Walker Hill does not hold your subscription and you’re on a Premium plan
Presuming that you use Xero for your accounting software and Walker Hill doesn’t hold your subscription, the next invoice from Xero following from 28th September will reflect the price change.
If you’re on a Premium 5 plan but have two people that are on a payroll
If you are on a Premium 5 plan and wish to be moved to the Standard plan, please contact us by email or call our office on 07 3367 3155 and we can assist with this downgrade.
