Xero (ASX:XRO) launched a new Irish VAT tool that combines VAT 3 and Return of Trading Details submissions into one connected workflow, according to a Tuesday statement.
The new offering makes it easier for Irish accountants and bookkeepers to prepare submissions by minimizing manual entry on individual tax returns, with information flowing into the returns directly from transaction data in Xero, the company said.
The Irish VAT tool also allows accountants to work on whichever basis their clients use, including cash receipts or invoices.
Xero shares gained 1% in recent Tuesday trade.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.