Time-saving tools to reclaim your day


Time-saving-tools-to-reclaim-your-day.jpg From streamlining BAS and year-end tax preparation to managing the workflow in the field, a number of tools available through QuickBooks can help smaller businesses operate more efficiently and profitably.

According to the industry, there are more than 30,000 “micro-consultancy firms” in Australia: auditing and accounting firms that employ up to four people and are unable to use many of the resources of larger companies.

With this in mind, Intuit is developing its suite of solution-oriented software, explains Meagan Wood, director of consultancy strategy at Intuit QuickBooks Australia.

“Smaller companies keep showing us how agile they are. All we do for these companies is to be efficient, give them time to run their business and give them the advantage of being successful, ”she says.

Rationalization of operations

Data from the Australian Tax Office (ATO) shows that approximately 60 percent of an accounting firm's revenue comes from compliance work. This is one of the key areas where micro-consultants can benefit from increased productivity.

This is especially true for tax time, says Wood, where QuickBooks Tax, supported by LodgeiT, can streamline the way tax and BAS agents file returns directly with the ATO.

QuickBooks Tax enables users to create and file their clients' BAS and tax returns faster by integrating data from QuickBooks Online as well as other tools like Xero and MYOB, Wood explains.

“We took an agnostic approach. We know companies have customers for a range of software. Hence, we support this reality by optimizing their compliance workload so that it is more efficient and effective and hopefully more profitable. "

QuickBooks Online Accountant (QBOA) helps the company manage its own business. With QBOA, the company has a full view of their practice, from assigning and tracking tasks assigned to team members, to seeing the time the team is tracking, to managing their customers (and their own) QuickBooks subscriptions a single login.

“Micro-consultants can handle up to 1200 customer jobs per year. So you have to keep track of where all these jobs are in the office and who is working on them, ”explains Wood.

"For jobs where the company bills their time, getting the job done more efficiently means getting the work billed faster, which increases the chance of getting paid faster."

Streamlining such processes not only increases productivity, but frees up the micro-advisors' time to focus on business growth and move from transactional relationships with customers to higher-quality advisory functions.

Wood adds, "Ultimately, they will have more time to have an informed, proactive business discussion with their clients and provide guidance on how to grow or minimize taxes."

Value-adding rewards

QuickBooks Tax is just one of many free benefits available through Intuit's tiered loyalty program, the QuickBooks ProAdvisor program.

When accountants and bookkeepers complete QuickBooks certification or recommend QuickBooks Online to customers, they earn points, which increases their status and unlocks a range of rewards. The free program also provides members with customer support (both online and over the phone) as well as marketing tools and wholesale discounts on QuickBooks online subscriptions that they can give to customers or integrate into their business model.

In addition, members can list their details in the program's Find-a-ProAdvisor directory so that small businesses looking for a QuickBooks-certified accountant or bookkeeper can easily find them.

“One of the top five challenges for consultants is finding new customers. So we try to find them whenever we can, ”says Wood.

"We're always looking for new ways to add value to our bookkeeping and bookkeeping community and help them achieve their business goals."

For companies that want to manage the new financial year with a sophisticated online tax solution and save time and money, LodgeiT's QuickBooks Tax is available free of charge today. Learn more.


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