Reflections on Xerocon NZ 2015

Monday 1st June 2015

To summarise Xerocon - it was far from a 'stuffy boring accounting conference'.

Emcee Te Radar brought Xerocon alive with some brilliant comedy, while the rest of the Xero 'show' was all inspiration, execution and excellence. It was clear that Xero is growing at such an impressive rate worldwide.

Rod Drury spoke at pace and excitement in his keynote about NZ being a great test lab.

He stated that banks in NZ are practically real-time as opposed to the states (where there's still seven days to bank a cheque). NZ banks have a 3 hour window for processing transactions, and we NZer's have the possibility of "no fee" transactions if we build/use services that operate in the 3 hour banking window.

Pipe dream - it would make regular and reoccurring online gifting even more attractive if no credit card fees applied.

Rod talked about crowd funding platforms - kickstarter, indiegogo and crowdfunder, which combined did 5 billion dollars turnover last year, with NZ versions such as Pledgeme starting to appear.

Rod also made quick mention to new mystery banking technology called “airlocking” for providing security vacuums in banking to Xero.

Crowdfunding is great news for charities looking for different sources of fundraising.

Video of the keynotes are available: here

Xero and charities

Infoodle had lots of good discussions about making not-for-profits processes simpler with Xero and passionate accountants.

Laurenson Chartered Accountants have produced a report pack for the new DIA and Charities Commision XRB reporting standards for NZ charities. They have built the report pack on Xero report codes.

Xero will at some stage be creating their own report pack for NZ charities but in the mean time for a premium option Laurensons is good start.

The end of the paper receipt

Xero signaled a deal with paymark. Paymark do 70% of all eftpos transactions in NZ.

This will help my “Please tell your eftpos machine I don’t want a paper receipt” thoughts every time I make a purchase. It will be great to do away with a wallet full of receipts.

End of year tax receipts on donations

Xero have left the building of yearly donation tax receipts to Infoodle to focus on the knitting of accounting. So while they didn't mention. Much similar pains exist for charities in receipting.

It certainly got us thinking about giving. Each year people giving receive multiple paper tax receipts from multiple charitable organisations. That need to be collated, filed and copied to their tax agent.

There must be a better way..

The real solution is possibly emailing receipts. It is making this process much simpler for people giving. No longer do they consider if their receipt is lost or hasn't come they can just check their inbox. Also payment processors or gateways can sent email receipts at point of transaction.

Send through any of your own thoughts on Xero, Xerocon or on how charities can look like rock-stars to their donors in simple things like tax receipts.

Post written by : Rory, infoodle