Don’t Write off this Year End
How to avoid making bad client data your issue this End of Financial Year
Stream this recording multiple times at your convenience.
- $180.00 incl. GST
- PD hours: 1
Poorly Reconciled Client Software Files Can Break your Budget for preparing the Tax Return and Financials.
Clients perceive that by using accounting software they will make the process of preparing the Tax Return and the Financials more efficient. However, the reality is that many clients (and some Bookkeepers) still fail to get the Accounts fully reconciled and proofed before handing over the file to the Accountant at end of year which can significantly increase the Accountant workload and the resulting fee (or Write Off).
With many clients transitioning to Cloud based solutions could this issue actually be growing instead of improving. Whilst the notion of a Single Ledger, that the Client and the Advisor work on simultaneously is possible in some software this is not always a practical solution for all clients.
So what can you do to make this end of financial year the most efficient ever?
Step 1 is to understand the key areas of the accounts that are causing the major issues and why?
By following a comprehensive end of year review checklist, we will walk you through the process of reconciling and proofing the key accounts within the clients data file. A documented process that you can then implement within your firm as a part of the review of the very next client data file that comes into the office.
Webinar Learning Outcomes:
- Key practical steps to review client data files, quickly and efficiently at year end.
- How to quickly spot potential issues and how to respond to a bad client data file before you chew up the entire budget trying to sort out the mess.
- Tips on how to play a proactive role by educating the client in proofing their own data file prior to sending it into the firm.
- Discover the key areas that cause the most grief when it comes to reconciling and relying on a client prepared set of books.
- Implement a file review checklist that enables you to quality control the clients work before you begin doing your Year End Work.
This session is suited to all Accountants within Accounting firms who are involved in the production of Financial Statements and Tax Returns off the back of client produced bookwork. The session is particularly relevant to anyone involved in the Business Advisory Services of your firm.
Clayton Oates has been recognised as a world renowned Thought Leader in the Accounting Technology Profession. In 2015 (and again in 2016 and 2017) he was named in the Top 25 Accounting Technology Thought Leader list compiled by USA CPA Practice Advisor, becoming the first Australian to be included in this prestigious list. In the past 12 months he has invested more than 60 days attending and presenting at many of the major Accounting Technology events in the USA, NZ and Australia. This experience has enabled him to attain unique insights into where technology is heading and the impact it will have on the Accounting Profession and you.
Clayton speaks from experience; starting out his professional life at PwC (Melbourne) followed by time in Industry before moving to Northern NSW where he established QA Business (a specialist IT consultancy division within an Accounting group). Now independently operated, QA Business helped thousands of SMB's and their ABC's (Accountants / Bookkeepers / Consultants) in the use of Accounting & Business Technology solutions. The QA Business mission is to help small business and their advisors build stronger, more efficient businesses by implementing technology solutions that not only drive efficiency but also enable business owners and operators to buy back time from their business.
Claytons Professional Qualifications Include:
- Bachelor of Business (Accounting) Monash University
- Fellow Institute of Public Accountants
- Accredited Software Consultant with Various Software Vendors
- Fellow Association of Accounting Technicians
- Top 25 Thought Leader in Accounting Technology (USA CPA Practice Advisor)
You will be provided with:
• PowerPoint presentation slide deck
• Supporting documentation
• Webinar Recording to view multiple times for up to 6 months
• An opportunity to ask questions to the presenter