Small business accounting maker Xero has expanded its integration with Microsoft by adding Microsoft-owned MileIQ to its growing ecosystem of app partners.
MileIQ allows independent contractors to automatically track mileage, classify drives and accurately report in Xero. Plugging directly into Xero +C, MileIQ enables independent contractors to more accurately deduct their mileage on their Schedule C reports. The companies made the announcement at Xerocon Austin, Xero’s annual conference in the Americas for cloud accounting leaders.
“Integrating with MileIQ is another example of Xero’s embrace of the gig economy,” said Anna Curzon, Chief Partner Officer at Xero. “Together, Xero and MileIQ provide a smarter, simpler way for our users to manage their businesses. With the MileIQ integration with Xero, we’re making it easier for independent contractors to reap the benefits of a more simplified accounting process too.”
Thirty-six percent of the nation's workforce is now freelancing, according to the 2017 Freelancing in America study by the Freelancers Union and Upwork. And 26 percent of U.S. employees say they are likely or somewhat likely to become a freelancer or independent contractor, according to a report from ReportLinker. As the gig economy continues to grow, demands for more simplified reporting processes are rising as well.
Chuck Dietrich, CVP of Mobile Data Labs at Microsoft said, “Whether it’s a business looking to reimburse its employees or an independent contractor filing a Schedule C report, MileIQ makes it easy to create accurate mileage reports all in one central place.”
MileIQ will be integrated with Xero to support expense reimbursement with Xero Expenses and bills in Xero, enabling businesses to sealessly track and reimburse their employees and independent contractors for travel-related expenses.
As a value-added benefit for accountants and bookkeepers, MileIQ is also launching MileIQ for Xero Advisors - an exclusive partner program for Xero Advisors. The program benefits include a free MileIQ Premium subscription, 20 percent discount for clients, unique MileIQ + Xero educational and sales enablement materials.
In addition to the new MileIQ integration Xero has several existing integrations with Microsoft Office 365, including:
- Xero add-in for Microsoft Outlook to￼ turn emails into client notes directly in Xero HQ.
- See Microsoft Outlook messages alongside transaction and activity details in Xero Contacts.
- Export reports from Xero to Microsoft Excel to do further analysis and collaborate with business financial data.
- Extract valuable insights and improve business performance with the Xero content pack in Microsoft Power BI.
The MileIQ integration with Xero +C will be publicly available later this month. The integration for expense reimbursement will be available next quarter.