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Activity Statement: Calculate Wine equalisation tax in Australia (WET)

Started by Mark Bourne in Feature Requests | Idea

Does Xero have the capability to record and account for the wine equalisation tax (WET) in Australia?
In particular it would be great to be able to record it for sales of wine to a wine distributor which does not attract the WET on their invoice, but you need to calculate it and report it on top of each sale to a distributor each BAS so you claim the WET rebate (if applicable).
Official Xero Reply
Hey everyone, it's been a while since we jumped in here, so I wanted to pop my head in and give you all an update as we enter Dec 2020. Wish all of you a happy next year and break or holidays.

I appreciate all your comments (& votes) on this request. Our Community Managers and I have had our eyes over the convo here since the beggining and can promise the team are aware of the feedback coming from you all.

I know this request has been around for a while now and it's important to all of you who have voted and commented. With feedback from customers coming through multiple channels and 8,000 requests alone in Community, we do have to consider several different factors on how we priorities our work at Xero. We have a blog post that expands on the different things and relativities we have to consider.

I know it won't change your need for this functionality, but I do hope it sheds some light on why we don't build everything for everyone.

Being honest with you all here, we don't have plans at this time to develop a dedicated solution for WET calculations or reporting. I know it's not the news you're after, but I want to be upfront with you on our plans so you can make decisions on how you'd like to account for these transactions. If our plans do change though, I'll be back on here in quick time to let you know.

In terms of accounting for this right now, our app partners have solutions you can integrate to Xero that provide this functionality (there are a few). There are also workarounds for people that want to use Xero solely to calculate WET, which we understand it's preferred by many.

If anyone would like help producing an invoice for WET, Xero does have a flexible invoicing feature that allows you to add information info that you might need. The team in Support would be more than happy to help with the steps for this - just drop in a case and the team will get back to you.
 

Tim Wright (Xero Staff)