June 6, 2015 7:00am by David Farrar

Automatic stats data from Xero

Statistics New Zealand hopes to provide a quicker and more accurate picture of how small businesses are faring as a result of a deal with accounting software firm Xero.

Businesses which use Xero’s cloud software will be able to volunteer to have some details of their business, such as their profit and loss, transmitted automatically to the government department.

Statistics NZ said the trial would test the feasibility of the department automatically collecting financial information electronically and if it was successful it could mean business owners would spend less time in future filling in forms.

If this means I have to spend less time every year filling in those 20 page business surveys, then I’ll be a very happy man.