Unleashed Software recently announced a solution for businesses to handle Wine Equalisation Tax (WET). What great news this is, not only because it opens doors to working with wineries and cider makers (two of our favourite sectors, and not just because of the possibility of being invited to a tasting), but also because it’s been a missing piece of the puzzle. For many years it has been difficult for businesses in these sectors to use Xero and all of the available add-ons, due to limitations around WET. No doubt WET is a complex beast so it’s good to see Unleashed investing in and finding a solution to this challenge for wine manufacturers. If you manufacture grape wine (sparkling and some fortified), grape wine products (marsala), fruit wines and vegetable wines, some ciders and perries, mead and sake, then this is very good news for you.
There are thousands of businesses in Australia needing a WET compliance solution and Cloudsolve is here to help you get it right. Without going into all the gory details of how to do it, here’s a few salient points on how the power of Unleashed + Xero can help you nail your WET compliance.
Sales – The flexibility to sell to multiple types of customers(eg to consumers, to retailers, to distributors, etc), via multiple sales channels at both WET and non-WET rates.
Purchasing – a Purchase Ordering system that will sync with your accounting software, keeping your stock accurate and eliminating re-keying of transactions.
Invoicing – Clear and compliant invoices with WET and GST values displayed
Compliance – ATO compliant in-period and year-end tax reporting
Batch Tracking – this well-loved product feature is a mainstay of Unleashed, and the application to the wine industry is essential
All in all the WET solution by Unleashed + Xero really is a beautiful full-circle solution. If it’s been one you’ve been waiting for, please email us at support@cloudsolve.com.au and we’ll help you get this integrated!