XU Magazine - Issue 41

Welcome to Issue 41...

Main Contacts -

CEO:

David Hassall (Co-Founder)

Managing Editor: Wesley Cornell (Co-Founder)

Chief Revenue Officer: Alex Newson

Account & Partnership Assistant: Robyn Consterdine

Creative Assistant: Aidan McGrath

Editorial/News Submissions:

If you have any editorial content (news, comment, tutorials etc.) that you would like us to consider for inclusion in the next edition of XU Magazine, please email us at editorial@xumagazine.com

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‘Xero’ is a trademark of Xero Limited (New Zealand). XU Magazine is collaboratively produced by an independent group of Xero users and is not affiliated in any way with Xero. All other trademarks are the property of their respective owners.

© XU Magazine Ltd 2014-2024. All rights reserved. No part of this magazine may be used or reproduced without the written permission of the publisher. XU Magazine is published by XU Magazine Ltd (08811842), registered in England and Wales. Registered office: Office 1, Brunswick House, Brunswick Way, Liverpool, Merseyside, L3 4BN, United Kingdom. All information contained in this magazine is for information only and is, as far as we are aware, correct at the time of going to press. XU Magazine cannot accept any responsibility for errors or inaccuracies in such information. If you submit unsolicited material to us, you automatically grant XU Magazine a licence to publish your submission in whole or in part in all/ any editions of the magazine, including in any physical or digital format, throughout the world. Any material you submit is sent at your risk and, although every care is taken, neither XU Magazine nor its employees, agents or subcontractors shall be liable for loss or damage. The views expressed in XU Magazine are not necessarily the views of XU Magazine Ltd, its editors or its contributors. The independent news source for users of accounting apps & their ecosystems

8 COVER STORY AutoEntry

AccountsPrep: The fast way to prepare accounts for simple clients

14 INTERVIEW Mimo

Exclusive interview with Mimo CoFounder & CEO Henrik Grim

18 CASE STUDY Intuit Quickbooks From 4 Hours to 4 Minutes: How Spire Accounting Uses QuickBooks Tax to Streamline Year-End Compliance

22 Ignition 7 strategic steps to run a smart, profitable, and efficient accounting firm

24 CASE STUDY WorkflowMax by Bluerock From Paper to Precision: How Katalyst Cloud & Business Services and WorkflowMax Help Roof Improvements Make DataLed Decisions

We have been working closely with the CPD Certification Service to have our articles CPD Certified. As you are reading through the magazine any article that shows the CPD Certified logo has been approved to count towards your CPD points. We are really excited to have been able to secure this for our readers as it means all approved articles can now be used towards your CPD points and building up your CPD register.

Bookkeepers Assemble for the ICB Bookkeepers Summit 32

Fishbowl Scooping Up Success: Sajani Cups and Cones Freezes Out Stock Issues with Fishbowl

34 MYT

Accounting Ignorami: The Reluctance to Embrace AI for Making Tax Digital

36 RecHound What’s one software tool that your business is missing? Making it yourself may actually be an option!

38 ApprovalMax Debunking the 'Too Small' myth

fumopay The New Way to Get Paid 42 CASE STUDY Frontline Accounting Expanding Capacity: How DTA Solved Their Staffing Crisis with Frontline Accounting

46 Tidy Hunting for Success: How Bene Footwear found their perfect solution

48 QX Accounting Services Tax Season: You’ve Been Doing It Wrong All Along!

52 The Back Room From Tuatapere to Global Talent: How The Back Room Redefines Offshoring 54 Mercury Is cash basis or accrual accounting better for my startup client? 56 Projectworks The new Projectworks Academy

58 Buddy Empower your skills in Payroll

62 AdvanceTrack Outsourcing

Advancetrack® launches Podsourcing® for accountancy practices

INTERVIEW...

Henrik Grim Co-Founder & CEO Mimo

64 G-Accon #1 Google Sheets Integration for QuickBooks and Xero

66 Expense on Demand From Paper to Pixels: The Journey to a Paperless Accounting Future

68 Spotlight 5 powerful features of Spotlight Forecasting you aren't using (but should)

72 EVENTS

The Business Show UK

The World’s Biggest Business Show | Golden 50th Edition

74 EVENTS

The Accounting & Business Show Asia

The Accounting & Business Show Asia made its successful debut on 16 - 17 October in Singapore

78 ApprovalMax Accounts receivable automation for end-to-end control

80 HR Partner

The Return-to-Office Debate: Choosing the Right Path for Your Company in 2025

82 Tim Hoopmann

How Small Business Owners can take Care of their Mental Health

84 Chaser

Celebrating 10 years of innovation

86 Revolut

Revolut reaches 10 million customers in the UK

88 XERO NEWS

What’s new in Xero –October 2024

90 UPDATES AND NEW RELEASES

92 CLASSIFIEDS

96 XERO NEWS

Hello, Xerocon Brisbane 2025

AccountsPrep: The fast way to prepare accounts for simple clients

@autoentry

Keir Thomas-Bryant, Product Specialist, AutoEntry by Sage

Keir’s background is in journalism, where he spent two decades doing things like editing newsstand magazines and writing award-winning textbooks. For the last eight years he’s worked for Sage, where he’s written blogs, guides and more about core issues for accountants and bookkeepers, such as Making Tax Digital and practice management.

Accountants are struggling with their workload. The recent Practice of Now global trends update from Sage reported that 66% of accounting professionals say their current workload gets in the way of serving client needs.

The cause is often manual processes, such as clients providing 12 months’ worth of paperwork at tax time, and expecting their accountant or bookkeeper to make sense of it.

Even if manual entry is automated via a tool like AutoEntry, there’s still a need to

reconcile and adjust the data to get to an accurate trial balance.

However, here at AutoEntry we have found the perfect solution.

Cloud accounting

Cloud accounting like Xero provides one solution, of course. Yet as all accountants and

bookkeepers know, a stubborn subset of their client base won’t use any kind of accounting software.

This might be because they arguably have no need to do so. Small-scale landlords are a good example, where identical income arrives monthly and expenses are minimal. Other clients with simple accounting needs might be side hustlers, who earn a taxable income in addition to their day job.

But as you know, many clients simply can’t, or won’t, make use of technology no matter how powerful a case their accounting and bookkeeper makes.

We could call these do-it-forme clients. They want you to do everything for them. That can be a lot of work, with little financial reward.

AutoEntry has a perfect solution: AccountsPrep. Its users tell us it can turn hours of work into mere minutes. It forms an efficient workflow to use as a foundation in your practice.

AccountsPrep: The biggest cost and time saving tool you’re ever going to use Lee Coombes Accountancy Digital

Accountant Lee Coombes has been using AccountsPrep for several months and had this to say about how it has transformed the way he works with simpler clients.

How do you use AccountsPrep?

It’s brilliant for end-of-year work. I did a job this morning for a client who gave us 12 months’ worth of bank statements. With AccountsPrep I can literally just bash out a job with 500 transactions in about 30 minutes. And that’s not even rushing! Previously that would’ve taken me up to four hours.

You can also do things like VAT Returns because you can set AccountsPrep for quarterly filing, too. I used AccountsPrep this morning to prepare a VAT Return for a carpenter. There were 157 transactions and with AccountsPrep, it took me about three or four minutes to process.

I even use it daily. We have restaurant clients where we use AccountsPrep daily to pull the transactions off the bank account. I use software that turns the bank account into a CSV file and then I import this into AccountsPrep.

What clients do you use AccountsPrep with?

It’s for clients don’t have accounting of any kind. They don’t use or they don’t need accounting software. They use cash accounting, rather than accrual.

And there are a lot of clients out there like this, believe it or not. In my practice, I’d say there’s a 70/30 split in favour of clients who don’t use accounting software. We’re moving them all over now to AutoEntry and AccountsPrep. Often these are clients like construction industry workers, or within the hospitality

industry, like pubs and restaurants.

AccountsPrep is open to so many different types of clients, even up to medium-sized businesses as well as smaller.

Typically with these clients, they’re paid through the bank, and everything they buy is through the bank (or cash, or on account with a supplier). Effectively, the bank account is their general ledger. Everything I need as an accountant is there. And AccountsPrep lets me turn that into accounts incredibly easy.

You can use it for limited companies, too. You can input the opening balances from the previous year, then pull through the new data from the bank accounts and so forth. You can then produce journals for end of year, produce a trial balance, and then import that into accounting software.

Is AccountsPrep useful now governments require the digitisation of tax?

Here in the UK we have Making Tax Digital (MTD) for Income Tax coming in 2026. I’m building my MTD proposition around AccountsPrep. The fact is that clients who don’t want accounting software now are not going to want it when MTD comes in, either.

We can pull regular bank transactions in and we know what they are, obviously. But we can also manually input to AccountsPrep, as well.

So even if a client’s using their personal account they can give us a list of their debits and we can pull them in manually from their bank account. Even more than this, we can use AutoEntry to extract the data for clients with cash

paperwork receipts, or invoices for things out of the ordinary, and put it straight into AccountsPrep.

We can just ask them for access to the bank account. It’s faster and cheaper for them, too, compared to a cloud accounting subscription.

MTD requires client data to be sent to HMRC every 90 days. But with AccountsPrep we can be updating their accounts once a week or once a month. We’re not chasing clients for data. We’re just going to do it live, all the time.

What are the strengths of AccountsPrep?

The coding, reconciling and adjusting is so simple. Just click the income button so all the income transactions at the top, select them all, and code them as sales straight away. Then just list all the outgoings by alphabetical order so all the identical ones are next to each other, and it’s just a process of tick-tick-tick to code them. From a cost point of view, it’s perfect.

If you can use a spreadsheet, you can use AccountsPrep. I can use my own chart of accounts, like I do for corporation tax with limited companies, or use the ones that are already there for sole trader clients.

We use the reporting feature to output a profit & loss for some clients, too.

The price is perfect. We use a fixed pricing model, so if we can save time, it’s a no-brainer for us. Clients don’t care how we do it. They don’t care if it takes you one hour, or ten hours.

AccountsPrep is the biggest cost and time saving tool you’re ever going to use for fast coding bank transactions.

Introducing AccountsPrep

AccountsPrep means you can prepare, adjust and output a trial balance for an unlimited number of clients as an add-on to an AutoEntry subscription.

You can then output to a final accounts solution for compliance purposes.

It’s tax season in the UK right now. Accountands and bookkeepers can upload PDF or print bank statements into AutoEntry in the usual way for

extraction. The data is then imported into AccountsPrep where it can be reviewed, updated and fast-coded to a chart of accounts (for which templates are provided, or you can use your own).

Cheques and deposits can be created and matched, too, and off-statement journal adjustments posted via three methods— standard journal, double journal, and manual quick edits direct in the journal.

Single transactions can be split

Why AccountsPrep is so important Phil Thornton Sage

Phil Thornton is Senior Director of Product Management at Sage, and responsible for development of AutoEntry and AccountsPrep. Here he explains why accountants and bookkeepers need to use both.

How would you describe AccountsPrep?

How are you working today with those clients who turn up periodically with bags or boxes of paperwork? Or who email you all their paperwork once a year?

You can try and digitalise them to avoid this happening. Not all clients are interested or willing to use accounting software, however.

AccountsPrep expands AutoEntry’s data entry automation into full digitalisation of their accounting through to trial balance, profit and loss and balance sheet. For tax submission, as an example, you can use it maybe every quarter or 12 months to get to trial balance. With Making Tax Digital for Income Tax here in the UK, AccountsPrep in conjunction with AutoEntry will speed up the process of digitalising records and producing reports for the quarterly reviews and check points with clients.

More than this, though, AccountsPrep is about servicing these clients as efficiently as possible. You go from getting their bank data through to accounts in the fastest possible time, while retaining or even improving accuracy.

Where did the idea for AccountsPrep come from?

We are lucky enough to have a panel of accounting professionals who advise us on the best way forward for our products.

Those firms seeing the benefits of AccountsPrep already regularly tell us how important this tool is to their practice and supporting their clients. When we show AccountsPrep to new firms, they are blown away by the simplicity and efficiency.

AccountsPrep is unique. We feel there is nothing else like it on the market. And we’re very proud of it.

What kind of people should use AccountsPrep?

It’s for accountants and bookkeepers, in any size of practice. AccountsPrep solves a problem for sole practitioners all the way up to firms who are managing the affairs of thousands of clients.

into several lines for multiple nominal/tax codes, and you can make transfers between multiple bank and credit card accounts.

Once reconciliation has finished, you can instantly output reports such as a P&L, balance sheet, trial balance or tax report. Crucially, you can also export to your accounts production software of choice for tax compliance.

Easy-to-understand visuals demonstrating cash flow and yearly results can be created to provide clients with insight.

We feel it’s very much a tool for the practice who are doing work on behalf of their clients in a way that collects the data and produces the required reporting as efficiently as possible. If clients are looking for a way to manage their own finances in conjunction with their accountant, then a cloud accounting solution would likely be best placed.

What are the benefits of AccountsPrep?

There are so many.

At its core, it’s the simplicity. It’s just so easy to use, and that’s a strength: Get the data such as invoices, receipts and bank statements from the client, feed them into AutoEntry, then use AccountsPrep to instantly reconcile, adjust and prepare the reports.

Add to that speed and efficiency I’ve already talked about. We can’t think of a better or faster way to do this job. Accountants and bookkeepers are able to use AccountsPrep to reduce the time it takes to service those shoebox clients, while maintaining fee structures which ultimately leads to stronger margins. We love that!

AccountsPrep

AccountsPrep is available now as an addition to any AutoEntry subscription at £50 per month, for use with an unlimited number of clients (€55 in Ireland, with other countries following soon).

This continues our “unlimited” approach, where with each subscription to AutoEntry, our customers pay only for the data extraction they use. All AutoEntry customers get unlimited client companies, user accounts and cloud storage for scanned docs.

If you’re an existing AutoEntry user, all you need do is open your dashboard, click Settings, and then select to add AccountsPrep.

If you’re a new customer, you can sign-up for a free trial of AutoEntry (and get 25 free credits!) Then after you’ve selected any subscription package, you can add AccountsPrep.

FIND OUT MORE...

Get a free trial of AutoEntry and learn more about AccountsPrep: autoentry.com

AccountsPrep features

Quickly prepare accounts in arrears for clients who don’t use accounting software. Prepare, adjust and output a trial balance for an unlimited number of clients with just one flat monthly subscription as an add on for any AutoEntry subscription. It’s ideal for tax submissions of any kind.

• Import a chart of accounts, or use one of the readymade templates.

• Split large transactions into individual

lines for separate coding.

• Make adjustments via standard, double or manual quick journal edit.

• Cheque and deposit creation and matching.

• Transfer between multiple bank and credit card accounts.

• Help future-proof clients for government tax digitisation demands (e.g. Making Tax Digital in the UK) by moving their existing accounting into the digital realm.

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Q&A

Henrik Grim

Mimo Co-Founder & CEO

XU: Can you briefly introduce Mimo and the vision behind its creation? What problem were you and your co-founders aiming to solve in the accounting and finance space?

HG: Mimo was founded with the mission to simplify financial management for SMEs, accountants, and bookkeepers by streamlining the way they handle business payments. We saw that many businesses and their accountants & bookkeepers struggle with managing payments—both incoming and outgoing—leading to cash flow problems and inefficiencies in reconciliation processes. So we created Mimo to provide a platform that automates these critical financial operations and helps businesses take control of their cash flow without the headache of manual effort.

XU: Can you tell us about the founding team behind Mimo? How did you all come together, and what unique skills and experiences does each cofounder bring to the table?

HG: My co-founders and I first met over a decade ago while working at iZettle (now Zettle since its

acquisition by PayPal) where we worked on solving payment problems for small businesses. Since then, we’ve gone on to work in different fast-growing tech companies, where we gained deeper expertise in finance, software development, payments, and SME products. What brought us back together was a shared realisation that, despite the advances in fintech, small business owners are still grappling with many inefficient financial processes. And that’s the very problem we set out to solve with Mimo.

XU: Since launching Mimo, how has the company evolved, and how do you see your platform fitting into the broader financial and accounting ecosystem?

HG: We just launched publicly 6 months ago, but we’ve already evolved significantly since then. We initially started with our accounts payable product, Mimo Pay, as well as our built-in credit line, Mimo Flex. But we have always known that granting accountants and SMEs with the ability to handle both sides of the cash flow

equation was essential. By having everything in one place, it’s easier for businesses to stay on top of their finances, which we think is going to be crucial as we continue to integrate more deeply into the broader financial ecosystem.

XU: What kind of company culture are you building at Mimo, and how do you ensure that the team remains aligned with your mission, especially as the company scales?

“Automation is at the core of what we do”

HG: At Mimo, innovation and putting our users first are at the core of everything we do, so we foster an environment where thinking outside the box and maintaining a customer-centric mindset are key. What that means in practice, is an emphasis on a flat organizational structure, where we hire a few, highly experienced people who act as individual contributors. It also means that we work in smaller, dedicated teams that align on weekly execution against short-term targets, while we within the larger company do quarterly planning sessions to maintain focus on the

The Mimo team at their latest kick-off.

longer-term mission. It’s a fastpaced environment, but this way of working ensures we’re all pulling in the same direction, which is crucial as we scale.

XU:

Let’s talk about your new Mimo Get Paid product. Could you explain what it is and how it fits into Mimo’s broader suite of offerings?

“Get Paid provides the tools to give accountants time to have high-value engagements with clients”

HG: Mimo Get Paid is designed to help businesses get paid faster by streamlining their accounts receivable. It automates the process of getting paid, from sending out payment requests and reminders, to reconciling bank transactions.

Together with our existing Pay product, which handles accounts payable, Mimo forms a complete cash flow management system, allowing businesses to manage both incoming and outgoing payments from one platform. This not only optimizes the

payment cycle but also ensures that businesses have better control over their financial health.

XU: What specific pain points in accounting and bookkeeping does Get Paid aim to solve for businesses and accountants?

HG:

One of the biggest pain points we’ve identified is the time-consuming nature of reconciling payments and chasing down late invoices, which can be particularly frustrating for SMEs with limited resources. Additionally, it helps accountants by providing realtime visibility into cash flow, making financial reporting and planning more accurate and less labor-intensive.

XU: Could you walk us through the key features of Get Paid and how it helps streamline cash inflows for businesses?

HG: There are several key features in Get Paid designed to get paid faster. First, it allows you to set up automation workflows to send reminders, reducing the need for manual chasing. Second, it

allows businesses to offer flexible payment options, including bank transfers, direct debits, and credit cards, which makes it easier for customers to pay on time. Finally, it provides automatic reconciliation of payments across any payment method, so businesses can see at a glance which invoices have been paid and which are still outstanding. These features work together to help businesses get paid faster and manage their cash flow more effectively.

XU: Automation is a growing trend in accounting. To what extent does Get Paid leverage automation, and how does it reduce manual processes for users?

HG: Automation is at the core of what we do. The platform automates many of the traditionally manual processes, such as sending out invoices, following up with reminders, and reconciling payments with bank transactions. This not only saves time but also reduces human error, ensuring that businesses have accurate, up-to-date information about their cash flow. For accountants and bookkeepers, it means less time spent on tedious tasks and more time focusing on strategic financial management.

XU: With Get Paid offering more automation and control over cash inflows, do you see the role of accountants changing? How do you think they will adapt to this new technology?

HG: I think accountants and bookkeepers will continue to play a crucial role, but their focus will shift more toward advisory services and helping clients manage financial planning, as automation takes over many of the manual tasks. Get Paid provides the tools to give accountants more time to have more frequent, high-value engagements with clients, and I believe they’ll embrace this shift

Excited to be back at the tradeshows, this time attending Accountex Manchester.

as it allows them to provide even greater value.

XU: How can small and medium-sized enterprises (SMEs) benefit from Get Paid? Are there specific features tailored to address the challenges these businesses face with cash management?

HG: With Get Paid, SMEs can benefit from automated payment reminders, flexible payment options, and instant reconciliation, greatly minimizing the time and effort required to receive payments. Additionally, through the Mimo platform, they can also access flexible working capital, further supporting healthier cash flow. Given the current economic environment, we know this to be more important than ever.

XU: The accounting tech space is competitive, with many tools aiming to simplify financial processes. How does Get Paid differentiate itself from similar offerings in the market?

HG: What sets Get Paid apart is that it’s part of a fully integrated platform that handles both accounts payable and accounts receivable. Many

tools focus on one side of the equation, but we believe that managing cash flow effectively requires both AP and AR to work seamlessly together. By offering a single platform for all paymentrelated processes, we provide businesses with a holistic view of their cash flow, making it easier to optimize both sides of the ledger. Further, by offering flexible finance natively embedded, we provide more options for both SMEs and their customers to make payments on terms that suit them and reduce potential negative cash flow impact.

XU: Looking ahead, what do you think the broader implications of Get Paid and similar tools will be for the accounting profession as a whole?

HG:

From what we’re hearing from our users, the continued advancement of automation is enabling accountants to broaden their offering and take on more clients, while becoming more focused on providing services like financial analysis, strategy, and planning. It’s an exciting time for the profession, and I think automation is only going to elevate the role of accountants in the future.

XU: Are there any future developments or features in the pipeline for Mimo?

HG: We’re constantly improving and expanding our platform in terms of functionality. In particular, we are working on a set of features around helping Accountants, Bookkeepers and business owners understand and control short-term cash flow in their payments workflow, with new data and finance products embedded into the Mimo platform. We are also working with increasingly large accounting firms, where we are building out broader support for their specific needs. Stay tuned—there’s a lot more to come!

The Get Paid release includes sleek payment portals to send to customers, including automated reminders.

From 4 Hours to 4 Minutes

How Spire Accounting Uses QuickBooks Tax to Streamline YearEnd Compliance

@quickbooksau

Damien Greathead

Accounting and Advisor Group

Lead at Intuit QuickBooks

Spire Accounting: How QuickBooks Tax Powered by LodgeiT Transformed the Firm's Client Work - a Case Study

N

erang, Queenslandbased Spire Accounting was first established in 2016, when then-sports marketer Ken Bensley and his accountant Joel Gurciullo decided to go into business together.

Fast-forward eight years, and they’ve built a thriving six-person firm known for its personable, laid-back approach. Spire specialises in small and mediumsized construction businesses and

their owners, helping them stay compliant, grow the business, or manage their SMSFs so they can save for retirement.

However, Spire’s journey wasn't always easy. The firm originally used MYOB Accounting Office (AO) to handle its clients’ tax work—but this caused endless headaches.

Spire needed a new solution.

That’s when it came across QuickBooks Tax, powered by LodgeiT.

A Time-Consuming Tax Nightmare

Despite their fast-moving ethos, Spire’s tax software and subsequent processes were anything but.

“The software was too complex for our clients’ needs, and the team wasted countless hours on manual data entry and other administrative tasks like chasing signatures.”

-

Ken Bensley

According to Joel, “The MYOB portal was slow, complex, and unintuitive”. Worse still, it caused the team and its clients to waste countless hours each month on admin.

One specific pain point was MYOB AO required clients to log in with a password to provide digital signatures. Unfortunately, clients kept on forgetting their passwords or thinking they needed to create a MYOB account themselves to access their files. There was constant confusion.

What’s more, there was no way to automate approval reminders

within the MYOB AO platform— meaning the team had to spend a significant portion of each week manually chasing client approvals. As Joel describes, "We were constantly hounding clients for signatures. It was a nightmare"

The team often waited weeks to get all-important sign-offs to complete reports. Spire quickly realised it couldn’t continue working this way and needed to think differently. So, it decided to look for another alternative solution—one that could help it save precious time.

“The Best In The Market”: Embracing QuickBooks Tax

Ken and Joel decided to give QuickBooks Tax a trial run after hearing about its evolution over the years. Ken was immediately impressed. “It was absolutely remarkable”

Eager to see if others felt the same, he asked the rest of his team to test it out themselves. They were just as enthusiastic as he was. “MYOB AO was archaic compared to QuickBooks Tax”, says Kieran Dingley, one of Spire’s accountants. “It was generations behind”

associated with generating financial statements. “It’s an absolute game-changer” explains Ken.

Automated Reminders

“Once people see the integration of Prep for Taxes into QuickBooks, I think it’ll blow their minds. It’s seriously the best in the market.”

and its clients. What’s more, it integrates directly with QuickBooks’ Prep for Taxes tool, saving hours on creating financial statements.

Spire has reduced its return approval wait times, improved the client experience, and lightened the administrative burden on their team thanks to QuickBooks Tax’s automated reminders.

- Ken Bensley

Bearing these features and the team’s feedback in mind, Spire decided to pivot to QuickBooks Tax.

How QuickBooks Tax Helps Spire Effortlessly Create Financial Statements

Unlike other reporting systems, QuickBooks Tax uses a single import and classification exercise to automatically populate Working Papers, Tax Forms, and Financial Statements.

With features like automated reminders, instant data-sharing, and a userfriendly interface, QuickBooks Tax eliminates the headaches

“Getting client approvals used to take weeks. Now, we often get signatures back overnight. It’s worlds apart.”

- Joel Gurciullo

QuickBooks Tax, powered by LodgeiT, uses two-factor authentication (2FA). This means increased security, no more lost passwords, and enhanced security for both Spire

What’s more, QuickBooks Tax automatically populates followup emails—all the team needs to do is send them off. Then, clients can approve with one click. No more pesky passwords they need to remember. “It’s made life just so much easier on our end”, says Joel.

QuickBooks Tax users receive unlimited e-signatures included, as one of the benefits in the ProAdvisor Program. Helping accelerate client approvals, you can see at a glance which clients have approved returns, and who you’re waiting on. You can even automate or send reminders to sign in bulk.

Having switched over to QuickBooks Tax, Spire only has to follow up manually with 5% of its clients. This is a far cry from the 30 - 40% that was the norm when the firm used MYOB AO.

Instant Data-Sharing

QuickBooks Tax automatically prefills tax forms and creates corresponding financial statements using data imported directly from QuickBooks’ Prep for Taxes tool. This virtually eliminates the need for the team to rekey data, meaning financial statements that used to take half a day to prepare now only take a couple of minutes.

“You can build a set of financial statements in three or four minutes, as opposed to three or four hours” explains Ken.

And while QuickBooks Tax streamlines the process for importing client data from QuickBooks Online, it also lets you import client-side financials from clients using Xero, MYOB, Reckon and many other platforms—even Microsoft Excel.

User-Friendly Interface

The Spire team find QuickBooks Tax’s dashboard feature particularly useful when it comes to maintaining an up-to-date view of all live tasks. The dashboard view means the team can see immediately if any clients have paperwork outstanding, or need an automated reminder to submit their data.

Making Tax Time Less Taxing

QuickBooks Tax, powered by LodgeiT, has transformed Spire’s operations. Thanks to its automated reminders, easy authentication, and effortless integrations, the firm now spends significantly less time on admin and data entry—all while providing a smoother client experience.

Now, Spire can focus on what it does best: building great

relationships with its clients. Less time chasing signatures, more time catching up with clients for a coffee or beer out on the firm’s veranda.

Access to QuickBooks Tax is free for members of the QuickBooks ProAdvisor Program. This Program is free to join*. Simply add more QuickBooks Online subscriptions for your clients to access additional tax and BAS lodgments.

7 strategic steps to run a smart, profitable, and efficient accounting firm

@mckanas

Matt Kanas, VP, Partnerships & Ecosystem, Ignition

Matt Kanas is a seasoned professional who serves as the VP, Partnerships & Ecosystem at Ignition. With a proven track record of driving growth and innovation, Matt has earned a distinguished reputation within the technology industry. He brings over 18 years of experience in the accounting software industry, including working for leading companies such as Intuit.

If inefficient processes are holding your firm back from maximising revenue and profitability, it’s time to consider a smarter way to run your business.

Here are seven proven steps for fast-tracking your revenue, cash flow, and efficiency.

1. Clearly define your services, pricing, and packaging

Many firms are using outdated ways to price and package services. Yet strategic pricing and packaging can significantly enhance your firm’s profitability and operational efficiency. Effective pricing strategies start

by clearly defining and breaking down your services into detailed components. Once you’ve identified the services you’re offering, only then can you determine the value and put a price on each of those services.

This is where a three-option pricing system comes in, enabling your business to offer predefined service packages to clients. Clients understand exactly what they’re getting, when, and for how much, which improves

communication and sets clear expectations.

Using a platform such as Ignition allows you to easily build your service library and create predefined service packages using proposal options.

2. Re-evaluate your billing model

Holding on to traditional billing models is another common culprit that can hinder efficiency and profitability for service-based businesses. Billing by the hour, manually tracking billable hours, billing after you’ve completed the work, chasing clients for payments – these are all entrenched habits that drain your resources and your profits.

Updating old billing models is key to managing your firm’s revenue. This includes rethinking how you bill and get paid – for example, shifting from billing upon completion to billing upfront or taking a deposit before the work begins.

When re-evaluating your billing practices, it’s important to have a billing and payments solution that can help you successfully navigate this transition. Ignition’s flexible

billing options mean you can bill hourly or use fixed fees, apply one-off or recurring fees, take upfront payments or deposits, and more.

3. Shift to upfront client payments

It’s no surprise that many firms suffer from cash flow issues if they’re stuck using outdated billing practices.

Even if your business isn’t ready to make the leap from hourly to fixed-fee billing, you can still implement billing processes that will guarantee you’ll get paid. Just like when signing up for a gym membership, firms can collect payment details upfront when clients sign a proposal using a tool such as Ignition. This puts you, rather than your clients, in control of the payment process and allows you to collect the payment automatically when the invoice is due. You can then transition to upfront payments, before the work even begins.

4. Transition to recurring revenue

If your business is stuck on a roller-coaster revenue recycle, it may be time to transition to recurring revenue or diversify your revenue streams to protect your cash flow year-round. For Marcus Dillon, CPA and President of Dillon Business Advisors (DBA), transitioning from a traditional accounting practice to offering more comprehensive client advisory services (CAS) has led to increased revenue. DBA now

clients with a ‘quick favour’ or spend time on the phone giving advice you probably should be charging for. Ultimately, it all adds up and means you and your staff are working, at least in part, for free.

Effective pricing strategies start by clearly defining and breaking down your services into detailed components.

offers Essential, Premier, and Elite core packages for CAS.

5. Engage clients with a clear scope of work

One of the fastest ways for firms to lose out on revenue and profits is by not having a clearly defined scope of work when engaging clients. You’re not only missing out on an opportunity to communicate your firm’s true value, but also introducing ambiguity to the client relationship. Clients don’t know exactly what they’re paying for, and your staff members are unclear on the services they should be delivering – exposing your business to scope creep.

When sending clients your proposal or engagement letter, it’s vital to include the scope, frequency, and pricing for the services you’re offering, alongside your payment terms, so everyone is on the same page.

Luckily, Ignition enables you to templatise proposals and engagement letters, meaning it takes only minutes to create proposals that provide clients with complete clarity on the scope of services.

6. Get paid when the scope changes

Even if your business is diligent in engaging clients with a clear scope of work, chances are that you’re not charging them for all the ad hoc services you’re providing. It’s all too easy to assist

The solution? Refer back to your original signed agreement to remind clients what is or isn’t in scope, and charge them for additional services appropriately.

Thankfully, Ignition makes it easy to bill for any ad hoc or out-ofscope work using the instant bill feature

7. Automate time-consuming processes

Once your firm has redefined its approach to pricing and packaging, engaging clients, billing, and payment collection, it’s time to tackle the biggest challenge holding many firms back – administrative burden. Automating manual client engagement, billing, and payment processes is the key to scaling your business, and your revenue, more efficiently.

Taking stock of your current processes is the first step to helping you identify the biggest efficiency gains for your business. You can then implement platforms, such as Ignition, to help automate the way you run your business and unlock more revenue.

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From Paper to Precision

How Katalyst Cloud & Business Services and WorkflowMax Help Roof Improvements Make Data-Led Decisions

Ryan Kagan, Head of Growth and Partnerships, WorkflowMax by BlueRock

With 20+ years' experience scaling businesses through digital solutions, Ryan Kagan, Head of Growth and Partnerships at WorkflowMax by BlueRock, is a seasoned leader in account management, product, partnerships, and business growth. Formerly a Director at BlueRock Digital, he propelled the startup to success. Prior roles at Deloitte Digital involved driving digital enablement and transformation through strategic advisory. Now, Ryan strives to build a thriving platform community where all prosper.

This article is

Residential roofing specialists, Roof Improvements, have been in business for three decades, which meant dealing with legacy tools, outdated systems, and manual processes. Discover how Katalyst and WorkflowMax stepped in to provide the tools that transformed their decision-making and boosted their efficiency.

Residential roofing is a big and increasingly complex industry in Aotearoa New Zealand, and one that plays a vital role in protecting Kiwis and their infrastructure from the elements. And it’s not just the wild weather that’s testing the industry, either. Strict and changing regulations, skills shortages and strong competition all put roofing companies under pressure.

Roof Improvements, an Aucklandbased residential roofing company that specialises in long-run iron, has seen it all in its

three decades of operation. Over many years Roof Improvements has grown from a small operation to a multi-million-dollar business servicing private and state-funded homes.

Naturally, as the company has grown over the years, they’ve found the manual processes, handwritten documents and reams of paper invoices just don’t cut it when it comes to efficiency, data clarity, or scalability. So they reached out to Glennis Stuckey at Katalyst Cloud and Business Services to see how WorkflowMax could streamline the company’s operations and offer better insights into its financial performance.

A foundation of manual processes

Co-founder Dean Foster was on the tools, Dawson Chung managed quantity surveying and Clare Barrett took care of the administration.

“WorkflowMax has just been phenomenal.”Clare Barrett, Owner Operator, Roof Improvements

“We had a couple of contractors that worked with us, but we were very small scale. My husband’s a roofer, and has been since about 16,” explains Clare.

The opportunity for the business to expand came along when Dawson, who came from a quantity surveyor background, agreed to join as their business partner, and bring on the skillsets they lacked. That was 25 years ago, and Roof Improvements has evolved significantly since then.

Like so many businesses, Roof Improvements started out small.

For one, Dean is now off the tools, and the team has grown to around 30 including directors, shareholders, roofers and contractors. As Roof Improvements expanded its

operations, it became increasingly evident that its manual processes were hindering the business’ growth and profitability.

“In the early days, you had to be an idiot to not make money in the building industry – not to sound like a prat. But we knew we had to get better than just writing out an invoice in Microsoft Word, dictated from some handwritten notes. We saw a lot of time being wasted on not being able to get your hands on information when you needed it.”

“The way we were doing things meant that we needed something more powerful. I couldn’t drill down to where we made and lost money,” says Clare.

“Sometimes your perception of where you’re making money isn’t accurate. You might have a great relationship with a business or person, but you need to know what it’s taking to make a deal, and where in your workflow it’s actually costing you.”

Manual processes were timeconsuming and prone to errors and delays. “We’d spend half a day looking through a stack of paper for a purchase order. That just wouldn’t do.”

The Katalyst for change

By 2016, the challenges had become overwhelming. Clare began exploring accounting software solutions. While their accountant had set them up with Xero, the team quickly realised they needed more than just an accounting tool—they needed a comprehensive job management solution.

quickly to solve the problem,” Clare says.

After investigating a few options, they reached out to Glennis Stuckey at Katalyst, to see what tools would be right for them – and Glennis immediately recognised the challenges Clare and the team were facing.

“There was a lot of custom data they were trying to track,” explains Glennis. “Roof colour, gauge, and profile, all needed to be taken into account – not just for quoting, but for accessing that information down the track for additions or issues.”

different places,” she adds. “This was a highly complex business with custom needs.”

For Glennis, the solution was clear: WorkflowMax – a comprehensive job management software designed to help businesses streamline their operations and improve efficiency. It offers a wide range of features for contractors like Roof Improvements, and at the time WorkflowMax was a Xero offering, so the fit was natural.

Glennis and Clare discussed at length the other features Roof Improvements wanted or were already using, like GPS tracking and time tracking for the installation teams.

“When you’re pulling the timesheets together to make sure you’re billing correctly, it was super time consuming, the information was coming from three

“WorkflowMax saves you time and does it easily. Don’t complicate. Automate.” - Glennis Stuckey, Owner Director, Katalyst Cloud & Business Services

“We had all parts of the business on different platforms. And if there were issues down the road, finding an email or an invoice was hard. Everything was scattered. It worked to a point, but if there was an issue, it was mind-blowing how hard it was to find the exact information

After completing a thorough assessment of Roof Improvements’ existing processes and requirements, Glennis started configuring WorkflowMax for them.

“When implementing WorkflowMax, Clare and I ended up creating an impressive 130+ custom fields and templates to account for all the variations and features they wanted to track,” Glennis says.

“The Roof Improvements team are heavy users of the system. Clare knew that there was a need for

L-R: Brendon and Glennis from Katalyst Cloud & Business Services Ltd Foundational Implementation Partners of the new WorkflowMax by BlueRock

Cont...

Glennis Stuckey, Owner Director, Katalyst Cloud & Business Services

general process improvements to their systems, in particular accessing historical information quickly. Now they could easily go back to 2016 and review their jobs to find all the information they need.”

“As a bookkeeping company, we tend to look at things from the bottom up – efficiency, ease of use, and best reporting possible. We like to make it easy; we can always complicate it later! It’s often best to start with implementing basic features, to get it to stick. If we go in too hard and fast, people get overwhelmed. Start with a job, record time and costs and invoice it. Then roll on extra features.”

Clare adds that “implementing the original WorkflowMax came with some challenges. It’s a beast to feed, because of the level of stuff that I want out of it. But that’s what’s made it such a successful solution for us.”

“There’s a bit of pain at the start, because you’ve got to train people, you’ve got to investigate what the business is capable of. But Glennis was integral to taking us through those steps. Every now and then she’d point out new things that WorkflowMax was capable of, and we’d get excited again!”

How Katalyst kept WorkflowMax close at hand

A few years after implementation, a fresh challenge arose. Xero was retiring WorkflowMax from their suite of offerings, and BlueRock was to take over the brand and build a new version called WorkflowMax by BlueRock.

“We had this beautiful system that worked really well,” says Clare. “And then we were told that we’d have the pain of having to learn a new but similar system.”

Glennis and Clare saw the challenge. Clare describes herself as a visual person, so needed a solution that would have an effective user interface that would continue to make sense. And Glennis knew that whatever solution they chose for Roof Improvements, it would have to deliver similar or better results.

Glennis notes: “We did investigate a few options that were similar to WorkflowMax, but these all cost two or three times more. In the end, we knew that sticking with WorkflowMax was the right move – but that it would come with some more changes to keep it moving.”

the final migration was completed on schedule. It’s been very much a process of testing, reviewing, and refining along the way!”

For Clare, it was hands-off. So much so that she could continue with her planned three-month European holiday.

“You need someone key in the business to make implementing a tool like WorkflowMax quick and easy, and a partner who makes it easy and works with you to get the results and changes you want.” - Clare Barrett, Owner Operator, Roof Improvements

As Clare says, “The timing couldn’t have been worse! But I had confidence that our in-house team along with Glennis as an implementation partner were all over it. Any time you’re integrating a new piece of software, there are going to be issues. But you stick with it. And Glennis has been integral to that.”

Inspiring an award-winning business

“We completed 133 migrations for clients transitioning from Xero's WorkflowMax to the new WorkflowMax by BlueRock. For Roof Improvements, the extensive data in their system required multiple passes to ensure a thorough migration. I maintained close communication with the WorkflowMax by BlueRock team to guarantee everything ran smoothly, while also keeping in touch with one of Clare’s team members to ensure

The partnership between Roof Improvements and Katalyst, coupled with the implementation of WorkflowMax by BlueRock, has been transformative for the company. They can see the revenue and costs for individual teams and contractors, manage their data, and deliver better outcomes for their own clients too.

Clare now raves about the ability to determine which teams are profitable – something that would

have been impossible with paper records. “I prepare all the KPIs for our business, and that level of drilling down I found really exciting. We’ve already gained so much new stuff, like making sure that some options are checked before a quote is approved (which makes it clearer for billing and install).”

“Your ability to be successful in business comes down to your ability to identify issues quite quickly, and make changes –and we have that, thanks to WorkflowMax and Katalyst.”Clare Barrett, Owner Operator, Roof Improvements

The level of data has also helped protect their reputation by showing entire timelines of conversations, emails and engagements to prove accurate information has been shared. In fact, information is so accurate that they’ve been able to free up their clients from the difficulties of bureaucracy.

“Our industry has become quite bogged down with the detail we have to provide – and there was no way we could do it manually. When the licence for building practitioners came in for roofers, WorkflowMax made it quite easy. And it meant it

could be easy for our customers. We could prepare the record of work, notify council on their behalf, upload documents to council on their behalf. And I got really good feedback for that – they’d say how amazing our admin was. WorkflowMax and Katalyst have enabled us to take that pain away.”

“We sent in an application to the Roofing Association of NZ, and won Roofing Training Company of the Year because I could easily get references from our clients to say how amazing our admin is.”

“I can do stuff quickly now, identify issues with people or jobs, and stay on top of it. Your ability to be successful in business comes down to your ability to identify issues quite quickly, and make changes. And if you don’t have a mechanism in place to ID stuff that goes wrong, then you’re in for a nightmare.”

The partnership between Roof Improvements and Katalyst, coupled with the implementation of WorkflowMax, has been a resounding success. “I had an issue only a few days ago, and could have got one of my team members to look at it,” says Clare. “But the relationship with Glennis and Katalyst is really good, so it was nothing to pick up the phone. Glennis can deal with my quirks! Nothing fazes her,” she laughs.

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Want to become a WorkflowMax partner?

From full implementation partners, to certified business advisors and ecosystem partners – we encourage you to join our community.

Find out more about the new WorkflowMax by BlueRock partner program at

workflowmax2.com/ become-a-partner

Bookkeepers Assemble for the ICB Bookkeepers Summit

Experienced bookkeepers, novices and bookkeeping students are all welcome

@ICBUK

Elizabeth Carter, Head of Marketing, Institute of Certified Bookkeepers

Elizabeth has been working with accountants and bookkeepers for longer than is believable. Now fully immersed in the bookkeeper community, previous homes include PracticeWEB, Senta and IRIS Software Group.

If you're a bookkeeper, there’s no better place to be this November than the ICB Bookkeepers Summit! The event is packed with everything you need to thrive in an ever-evolving industry — plus, a chance to meet fellow bookkeepers who really get what it’s like to balance ledgers while balancing life.

Bookkeepers attending the 2024 Bookkeepers Summit have plenty to look forward to, as this year’s event promises to be packed with valuable insights, networking opportunities, and exciting new industry developments. Hosted on Monday 11November at the Park Plaza Hotel in Westminster, the summit is a full-day, in-person event, complemented by virtual sessions from November 13-14, designed to equip bookkeepers with future-ready tools and strategies.

Keynote Speakers and Industry Experts

from Craig Ogilvie of HMRC, and Paul Aplin OBE will be interpreting the impact of the government’s first budget.

Practical, Actionable Advice

REMEMBER:

The agenda includes several sessions aimed at helping bookkeepers succeed in their businesses. Bev Flanagan from BFF will lead a session on actionable steps for practice success, while Gem Malek from FreeAgent will discuss how to future-proof your practice for

You don’t need to be an ICB member to attend. All bookkeepers are welcome.

One of the major highlights is the roster of industry experts lined up to speak. Allister Frost, former Microsoft leader, will open the day with his keynote on “The Future Ready Mindset,” offering valuable perspectives on how bookkeepers can adapt to the rapid changes in the profession. Delegates will also hear about how to support clients through the introduction of MTD

long-term growth. Attendees can also look forward to tips from Kate Powell MICB of Kingston Bookkeeping on delivering goldstandard client services, ensuring bookkeepers are prepared to elevate their client relationships

The best bookkeepers stories

Be inspired by stories from fellow bookkeepers. Over the course of the summit, you’ll hear from experienced bookkeepers including Lara Manton MICB, Natasha Everard, Jo Wood &

LUCA Awards: The Oscars of the bookkeeping world

Everyone’s favourite part of the Bookkeepers Summit, the LUCA Awards Ceremony is the hotly contested awards ceremony for the bookkeeping world. The highlights include awards for new practices, ICB students, large practices and Bookkeepers Champion of the Year. The vendor space is also recognised, with awards for software, financial services and training providers voted for by the ICB membership.

Zoe Whitman, Libby Walklett, Helen Bower FICB PM Dip and Emma Fox. All with a great story to share, and real life, practice experience to share.

Keep up to date with the latest tech and innovation

Learn how the brightest software companies are innovating to meet the changing needs of bookkeepers. Throughout the day, partners including Xero, Dext, FreeAgent, Apron, IRIS Software Group, Intuit

What to expect

QuickBooks, and Sage will share their latest advancements in bookkeeping tech. The summit will also feature an exhibition where attendees can meet new vendors, network with fellow bookkeepers, and explore the latest products and services that can help streamline their business operations

The virtual summit

If you opt for the in-person summit you also get access to two days of virtual content. Or

you can opt for just the virtual summit. This year, we’re proud to introduce the Student Selection track, which includes advice for students past, present and future from the ICB education team, Ideal Schools and Training Link.

The Bookkeepers Summit is a hybrid event, with both in-person and virtual events happening across Global Bookkeeping week. You can choose to join in as much or as little as suits you - but do join in!

Monday 11 November

In-person Summit

Park Plaza Hotel, London

Be in the room where it happens! Join your fellow bookkeepers for a day of talented speakers, actionable insights, and unparalleled possibility. Hot lunch included. Hotel bedroom discount codes are available.

Book here

Weds 13 November

Virtual Tech Day

Explore the best tech in the market to enhance your practice and streamline your work with demos from our software partners.

Book here

Thursday 14 November

Virtual Summit

Our virtual summit draws together key industry speakers for practical insight and advice. Offering three tracks GO BIG, STAY STRONG and STUDENT SELECTION you'll find the right information for your personal journey.

Book here

Scooping Up Success

Sajani Cups and Cones Freezes Out Stock Issues with Fishbowl

ith new trend data revealing that almost half (46%) of food distribution and manufacturing businesses will this year be investing in tighter inventory management systems, Sajani Cups and Cones turns to Fishbowl for the way forward.

The recent CommBank Manufacturing Food & Drink Insights Report found that producers and distributors have navigated an operating environment marked by higher costs, constrained skills, and fluctuating customer demands by prioritising productivity.

When over 1 in 3 (37%) of food distributors and manufacturers confirm their biggest challenge is ineffective operating systems, many are turning to technology for the fix.

For almost half, they’re investing in new technology and software (46%) alongside new operating systems (49%).

Sajani Cups and Cones choose new inventory technology to meet challenges

When experienced business owner, Sue Boor, General

Manager of Sajani Cups and Cones bought this family owned business she knew change was immediately needed.

“We knew this business had great potential but not a lot of structure. So we had utilised Fishbowl at another business that we have and it worked extremely well there, so we decided to utilise Fishbowl here in Sajani, which has proven to be amazing.”

There was an immediate focus on improving stock management, streamlining purchasing, and winning back customer respect lost from previous stockout issues.

“We have thousands of types of stock, and one of the major issues of having a business with a lot of parts, is that it’s extremely difficult to keep on top of all those parts and make sure that we've got enough stock to be able to supply our customers,” said Sue.

“The last year has saved us thousands of dollars because we don't have any issues with not having things in stock anymore. Our customers are confident that we're able to supply them with the goods that they need, when they actually need them.

@fishbowl

Craig Scarr, Fishbowl Marketing Director, APAC

Craig Scarr is a marketing professional and business leader with passion and focus to help organisations and leadership teams to generate outstanding results. Craig has extensive experience as a business professional spanning strategic marketing, brand management, partnership development, content, and digital media marketing across a diverse range of industries including FMCG, financial services, not for profit organisations and software solution providers.

“Any staff member at any time can see what's on order. Fishbowl gives me the flexibility and the knowledge to be able to answer questions at any time.

“Everything is more efficient. It has probably cut off probably two to three hours a day in staff hours because its streamlined our business incredibly.”

Significant growth and importing precision achieved

“Fishbowl is a very powerful tool. It gives me the information I need when I want it. It gives my staff members the information they need when they want it and that's the most powerful tool that you can have in a business,” continued Sue.

“Fishbowl has allowed us to actually get true costs of the products that we're selling. We import and now there’s no guesswork on exchange rates and pricing anymore.

“Fishbowl has also increased our sales because we have become a reliable supplier. When we purchased the business we probably had about 3,000 line items. We've expanded that to around about 5,500. Without Fishbowl, we wouldn't have been able to do that.”

Staff empowered with confidence to master their work

Head gelato chef at Sajani Cups and Cones, Jean Aveline, or Frenchie as he’s known, recounts the relief that Fishbowl has given him to do his job well.

“I use Fishbowl on a daily basis to update the system so we know how much stock we have,” said Frenchie.

“Fishbowl has just made everything so much more efficient. Your customers can see what stock you have, they can order from there. Your workers know what's in there. It helps with the visibility of stock and communication all across the board.”

“The support for Fishbowl was easy. It was nice and easy to use. Everyone just showed me what I needed to do. And yeah, it's pretty hassle free.”

New technology ever evolving and Fishbowl at the forefront of AI

As is the nature of any technology adoption, the landscape is ever changing and along with it businesses are seeing the opportunities to continually

improve. The food and drink industry is no exception, with the CommBank report citing emerging technologies set to make its biggest impact in the next five years.

These include supply chain integration platforms, track and trace technology for supply chain visibility and AI and machine learning.

With the launch of Fishbowl AI Insights, APAC Managing Director, Simon Jupe, acknowledges that food manufacturers and businesses are set to reap even greater benefits.

“It’s clear from Australia’s largest food and drink industry trends research report that inventory management is front and centre,” said Simon.

“The arrival of AI technology has enabled this. It’s a huge opportunity, but with it those who don’t adopt quickly may find themselves left behind.

“Community expectations are quickly changing and more than ever people expect to deal with an efficiently run business. So, businesses must rise to a new challenge.

“We’re excited to be at the forefront of that change and able to offer our customers this new technology.”

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Want to learn more about how AI is shaping the food and drink industry? Click here to download our free e-Book:

“Food Manufacturing 2025: AI Technology Drives Inventory Innovation”

Accounting Ignorami: The Reluctance to Embrace AI for Making Tax Digital

s HMRC’s "Making Tax Digital" (MTD) initiative draws closer, mandating quarterly digital tax submissions for the selfemployed by 2026, accountants should be leading the charge in adopting technology that simplifies compliance

Instead, a culture of Accounting Ignorami (AI) has surfaced— accountants who remain resistant, even oblivious, to the benefits of AI-powered tools like MYT. This hesitancy is more than a quaint attachment to traditional methods; it’s a failure to modernize that could hold both accountants and their clients back.

MTD aims to streamline tax reporting, minimizing errors, ensuring up-to-date records, and ultimately easing compliance burdens for sole traders. AIpowered tools like MYT are perfectly positioned to facilitate this shift, automating data entry, categorizing expenses, and providing valuable insights for users. Yet, the Accounting Ignorami remain unmoved, clinging to manual methods

that leave little room for error reduction or efficiency.

This resistance often stems from a misconception that AI threatens traditional roles, or an outdated belief that tax practices don’t need “fancy” technology. But tools like MYT don’t seek to replace accountants; they’re designed to enhance their work, allowing professionals to automate time-consuming tasks and focus on advisory roles that add true value. These tools integrate seamlessly with existing systems, ensuring timely submissions and providing real-time compliance alerts. Ignoring them, however, leaves accountants ill-prepared to navigate MTD’s evolving demands.

By choosing to stay in their comfort zone, Accounting Ignorami risk not only regulatory non-compliance but also the erosion of client trust. As technology becomes increasingly essential for financial transparency and efficiency, clients will seek out accountants who embrace tools that prioritize accuracy and convenience.

@app_myt

Oumesh Sauba, CEO, MYT

Oumesh Sauba is the visionary founder and CEO of MyT Limited, an innovative AIpowered accounting app and software tailored to meet the bookkeeping and recordkeeping needs of freelancers and micro businesses. He previously directed Sauba and Daughters Co, a wellestablished accounting firm based in Croydon. With over 15 years of experience as a Chartered Management Accountant, Oumesh specializes in financial accounts, management accounts, and taxation.

Stubbornly resisting AI’s transformative benefits does a disservice to both clients and the accounting profession, risking irrelevance in a field that must keep pace with technological progress.

The MTD initiative presents accountants with an opportunity to modernize, streamline, and improve service. Embracing AI-powered tools like MYT isn’t a luxury—it’s a necessity to stay competitive. The future of accounting is digital, and those who break free from the Accounting Ignorami mindset will find themselves not only compliant but also better equipped to deliver exceptional value in a changing industry.

This article is

What’s one software tool that your business is missing?

Making it yourself may actually be an option!

Alex Lacota, Co-Founder, RecHound

With over 10 years of experience as an accountant, Alex is all about finding smart, tech-savvy ways to streamline accounting tasks. Now, transitioning into app development, he combines his accounting experience with the latest technology to make balance sheet reconciliations as smooth and hassle-free as possible.

Turning a software idea into reality is not as far-fetched as you may think.

ot a great software idea but no technical experience? You may not believe it, but even without coding, development, or marketing skills, building an app is actually within reach.

I’ve been an accountant for nearly 10 years and developed a Xero application for the last 2 years with no entrepreneurial background. Here’s what I've learned:

1. Start with a Problem You Know Well

The best ideas come from personal experience. For me, it was Balance Sheet Reconciliations - I was pretty shocked when I discovered that there was no Xero app to tackle these. Think about challenges you face in your industry. If you’re familiar with the problem, you'll understand how much people could benefit from a solution.

2. Partner with the Right People

You don’t need to know how to code to create an app. I took my idea to my brother-in-law who had coding skills, and he quickly came around to my vision. The key is to find people who not only believe in your vision as

much as you do, but I would also recommend finding someone you can really open up to. Whether it’s a co-founder or a freelance team, they must align with your goals, and be able to support you through ups and downs. At RecHound, our supportive co-founder relationship has been the driving force behind our application.

3. Find a channel that supports your idea

it, gather feedback, and improve. It’s not about creating something flashy—it’s about solving a real problem practically.

If you’re familiar with the problem, you'll understand how much people could benefit from a solution.

Use friends, colleagues, in-person groups or online forums to bring in feedback for your idea. Check if others may be willing to use your idea if developed, and ask for their ideas too. You will start to see trends very early on from people within your industry.

4. Focus on Simplicity

It’s easy to get excited about new ideas and features, but try to resist the temptation to commit to everything. Focus on a minimum viable product (MVP) that addresses your core problem. Keep the interface clean and intuitive, so users see its value immediately. The simpler your app, the faster you can test

5. Tackle Big Challenges HeadOn

You might hit technical hurdles that seem overwhelming, but every challenge is an opportunity. At RecHound, we spent a lot of time on the transactional clearing feature, which seemed impossible initially but once built, it became a unique selling point. Embracing these challenges can set your app apart and lead to defining features.

Building an app is more about persistence, problem-solving, and creativity than technical expertise. If you have a clear vision, you can bring it to life by focusing on solving a real problem, building the right team, and staying committed.

Debunking the 'Too Small' myth

Why Every Business Needs Strong Approvals

@laramanton1

Lara Manton, Head of Bookkeeping EMEA at ApprovalMax & Director of LJM Bookkeeping

Lara Manton has over 10 years in the industry, running LJM Bookkeeping Ltd. She helps clients of all sizes with their finance function, as well as consulting on software implementation and process efficiencies. She won ICB’s Small Practice of the Year 2021 and has been nominated for multiple Accounting Excellence awards, including Highly Commended in Bookkeeping Team of the Year 2023.

Her love of software and tech led her to winning the inaugural Xero Innovative Partner of the Year in 2023, and she gives software providers a bookkeepers perspective.

Time and time again, I hear from bookkeepers that their clients ‘aren’t big enough’ to need approvals. This type of thinking holds so many businesses – of all sizes – back from experiencing the benefits of strong approvals and tools, like ApprovalMax, that support it.

With my clients, I focus on process efficiency and setting up the structures and systems that work best for their unique business, including building the right cloud-based tech stack. Sometimes, they put this off for far too long; many think they have to get to a certain size before they can use certain software but actually using the software might help them grow.

Here are three recent clients I’ve suggested ApprovalMax to, how I suggest they use it, and why:

The sports club

This local sports club moved to Xero and Dext a few years ago but struggles with controlling spend. The club only has one full time employee and is otherwise supported by a team of volunteers, so it’s important to do more with less.

Although they’re using budgets in Xero, unnecessary costs slip through the cracks and lead to budgets spiralling out of control. Currently, it takes the volunteer treasurer two days per week to manage the finances.

Suggested approach:

• Start issuing POs via ApprovalMax, which will need to be signed off by the treasurer before issuing and checked against budgets to avoid surprises when final invoices come in.

• Reduce subscriptions by using ApprovalMax Capture to replace Dext when the purchases come in, including bill-to-PO matching, and push bills through approval before payment.

What will ApprovalMax solve?

• With ApprovalMax, the treasurer

can add a layer of security and limit access to Xero, while adding a more stringent approval process.

• The team can monitor budgets better and all spending will be signed off by the treasurer in advance before purchases are made.

• The audit trail will automatically save time by tracking each and every transaction for better continuity, especially when the volunteers switch over.

The media agency

At this fast-moving media agency, the team regularly shares quotes with clients on short notice. Sometimes, this means the quotes don’t go through the right approval process before sending to clients, or get lost in emails. With an average 200 jobs a year, things get confusing – fast.

The agency also bills for extra

time each month. Currently, one team member emails each and every client for confirmation before invoicing, then each invoice has to go through the right internal approvals.

Suggested approach:

• Roll out sales quotes using ApprovalMax and Xero to ensure all quotes are correct and checked internally before sending onto each client.

• Swap the POs to go through ApprovalMax so final invoices can be matched with the POs to tie every job up.

• Save time and use ApprovalMax Capture to extract data from ~200 jobs per year, instead of entering invoice details manually.

• Use additional reporting in ApprovalMax to track everything is linked together.

What will ApprovalMax solve?

• The team can make sure quotes are internally approved first so the business is not under or over charging each job, then signed off by clients every time using the sales quote function.

• This gives the clients visibility and means there will be no queries around VAT or prices.

• Adding ApprovalMax will ensure costs are linked to POs, along with clear quote sign off, which ensures the team has full visibility across all processes.

• At the moment there’s no way

to connect POs and purchases in Xero if they come in via a separate system – this will make sure they’re billed correctly and in the system.

The sweepstakes firm

This client already uses an approval automation tool. However, its limitations are seeing the team spend hundreds of pounds in excess fees each month. The firm processes 300 invoices each month with a huge amount of manual workarounds; for example, the tool’s OCR tool takes 24 hours to upload so can’t be used for tight deadlines, meaning they need to be manually input or circulated via email.

All of this results in wasted time and resources, for both approvers and accounting staff.

Suggested approach:

• For continuity around controls, replace the current system with ApprovalMax and get all approvers to download the app.

• Build workflows for regular suppliers so they filter automatically and encourage the internal team to make comments directly in ApprovalMax.

• Build email rules on the accounts inbox and supplier rules in Dext to import bills faster.

What will ApprovalMax solve?

• It will speed up the processing time for incoming invoices, through Dext connected to ApprovalMax since they use QuickBooks Online.

• Currently, there are no supplier rules, which means each item needs to be coded manually. It’s easy to build workflows in ApprovalMax for different suppliers and amounts.

• The app will make it simple for approvers to see urgent items and the team can message directly in the system, rather than having to email.

Getting started

So, where’s the best place to start if you have a client that’s a good fit for approval automation? Start with a product demo, then think about your approval workflows. That’s when you can get the ball rolling with a free trial to see the difference it makes in automating approvals and building strong financial controls.

FIND OUT MORE...

To learn more about ApprovalMax or start your free trial now, visit:

approvalmax.com

The New Way to Get Paid

How fumopay uses Open Banking to support small businesses with collecting payments

Kevin Ludford, Founder, fumopay

Kevin founded fumopay in 2020, to champion innovative payment solutions, specifically to help small businesses with their cash management. Kevin has a wealth of experience in the digital payments and the eCommerce industry, having founded a development agency back in 2011 and later being acquired by a PLC.

Discover how small businesses can adopt Open Banking to improve their liquidity, by collecting payments online and in-person.

Challenging the traditional ways to get paid

This article is

For many years small businesses have been neglected when it comes to payment technology, often having to choose between

the slow process of bank transfers or paying high fees to accept card payments.

However, the rise of Open Banking has sparked a wave of innovation in the payments industry, particularly benefiting SMEs. In this article we explore the advantages of small businesses embracing Open Banking solutions like fumopay, as a new way to get paid.

Removing

payer friction

High debtor days are a common challenge for small businesses across the UK, often leading to liquidity issues.

details, and process invoices in their banking app. Although it seems like a minor inconvenience, in today's fast-paced world— where purchases on platforms like Amazon can be made with just a few clicks—such tasks are easily postponed, often leading to payment delays.

“Our credit card transaction fees have significantly dropped, thanks to our clients paying via fumopay”

fumopay solves this issue by leveraging Open Banking technology, enabling direct bank-to-bank transfers with just a few clicks. No manual data entry is needed, making the process quick and seamless for customers. The result? Less hassle and faster payments.

While several factors contribute to this widespread problem, one frequent cause of delayed payments is as simple as customers having to manually set up new payees, enter account

Transaction fees & instant settlement of funds

Businesses that accept payments by credit card often face two main

challenges: losing a portion of their invoice value to transaction fees and waiting for funds to clear before they reach their account.

With fumopay, these issues are resolved. Transactions are processed through Open Banking, resulting in instant, bank-to-bank payments, with funds deposited immediately.

Since there are no intermediaries, fumopay offers 0% transaction fees, allowing businesses to retain 100% of their invoice value.

Real world examples

The adoption of Open Banking by small businesses is on the rise, with many already using it for payments without even realising. If you've recently made an HMRC payment, chances are you’ve used Open Banking. So, if we’re using it to make payments, why not use it to collect them too?

Connolly Accountants and Business Advisors has made

the switch, and Founder Declan Connolly shared his experience:

"We were actively searching for an alternative to credit card payments due to the high transaction fees. We discovered fumopay and switched our Xero online payment method. Over the past few months, our credit card transaction fees have significantly dropped, thanks to our clients paying via fumopay.”

Expanding Capacity: How DTA Solved Their Staffing Crisis with Frontline Accounting

Solving Capacity Issues for Accounting Firms with our Premium Offshore Services

Mark McNee, Country Director UK, Frontline Accounting

As the EMEA Director at Frontline Accounting, I'm responsible for running and scaling the UK & European operation of a leading offshore resource for accounting firms and businesses. With over 15 years of experience in strategic growth roles, I have a proven track record of delivering meaningful business improvement by challenging the accountancy status quo. I am also an ACCA student, pursuing a diploma in accounting.

DTA & Company Ltd. grew from a dining table startup to a thriving eightperson team with the help of Frontline Accounting’s offshore talent.

e’re excited to bring you a conversation with one of our valued clients, Deborah Taylor (DT) and Andrew Taylor (AT) of DTA Accounting.

In an in-depth interview, Deborah and her husband, Andrew, share their journey of growth and adaptation, including their decision to partner with Frontline Accounting for offshore support. From initial reservations to discovering the transformative impact of offshoring on their business, Deborah and Andrew walk us through the challenges

they faced and the successes they’ve achieved.

"It

DTA, which stands for Deborah Taylor Accounting, has been in business in Falkirk for 12 years this June. The company was founded by Deborah, and her husband, Andrew, has since joined her in managing the company.

was either try offshoring in the Philippines or keep struggling"

just wanted to solve a problem. It all started over ten years ago, with Deborah working from their dining room table. Business grew, as it does, but the team didn’t. They needed staff. The right people. And finding them wasn’t easy.

DT:

Deborah and Andrew never planned to take DTA global. They

“We were stuck. We tried advertising, but no one fit. COVID made it worse — people wanted to stay at home, and hiring became impossible.”

AT:

“We couldn’t keep going like this. We needed to try something else.”

So, they turned to offshoring and found Frontline Accounting.

Finding the Right Fit

Hiring people you’ve never met, halfway across the world, might sound like a leap. For Andrew, it felt more like a cliff.

AT:

“I was dead against it. I wasn’t keen on

outsourcing or offshoring. The whole thing seemed risky—people in another country handling our clients’ work? It didn’t sit well with me.”

But the situation was dire. They’d tried everything locally, and nothing worked. So, Andrew and Deborah decided to give it a go.

They turned to Frontline Accounting, a firm specialising in premium offshore services from the Philippines.

AT:

“It was either try offshoring in the Philippines or keep struggling. So we jumped in, and we’ve never looked back.”

Starting Off

Remote Team, Real Growth

Managing a team remotely came with its own learning curve. Andrew had always believed in face-to-face interaction. He liked having people in the office. But with offshore talent, he had to learn to manage differently. Zoom calls became a daily habit. They used Slack, WhatsApp, anything to stay connected.

AT:

“We couldn’t have scaled like this without Frontline. We’d still be spinning our wheels, trying to hire locally. Now, we have a reliable team."

Why Offshoring?

It’s not always easy. The learning curve is steep. There are hurdles, especially in the beginning. But the rewards are real.

"Offshoring was hard at first. We worked through it. Now, the whole firm runs smoother."

Offshoring isn’t without its hurdles. The Taylors hired Kate as their first offshore accountant, and the initial months were not without their challenges.

Kate’s written English was excellent, but the Scottish accent can take a little getting used to for Filipinos. At the time, there were also no written procedures to guide the new team.

DT: “It was hard. We had to build everything from the ground up.”

AT: “It’s not like hiring someone down the street. You’re dealing with distance, language, and a different way of working.”

But Kate was patient, as were the whole DTA team and their clients. Kate established processes and wrote down procedures, and with every call and email, things improved. Slowly but surely, the barriers fell away.

AT: “You learn as you go. The important thing is, you stick with it. And now, we’ve got systems that make the whole firm run smoother.”

And it worked. Kate integrated into the team, managing her own clients and getting work done. They trusted her, just like they trusted their UK-based staff. Then, they hired Alex, an admin assistant, who immediately lightened Deborah’s load.

DT:

“She’s brilliant. She’s taken over my emails and managed the little tasks that kept me bogged down. Now, I can focus on growing the business instead of getting stuck in the dayto-day grind.”

The Results Speak for Themselves

Fast-forward two and a half years, and DTA’s team now runs like a well-oiled machine. Systems are in place. Kate manages her clients with minimal input, Alex takes care of the admin, and Deborah and Andrew finally have room to focus on the big picture.

They’ve even planned a trip to visit their team in the Philippines—a move that both strengthens relationships and shows their commitment to the offshore staff.

DT: “We’ve been working with them for years now, it’ll be great to meet them in person."

For the Taylors, offshoring wasn’t just a solution to a staffing problem. It was a catalyst for growth.

AT: “Give it a go. It’s worth it in the end."

DT:

“Don’t be afraid of the challenges. It’s not perfect from day one, but if you stick with it, the results will surprise you. It’s freed us up to focus on what matters."

Frontline Accounting has helped firms like DTA solve capacity issues with premium offshore talent from the Philippines for over a decade.

It’s not always easy. The learning curve is steep. There are hurdles, especially in the beginning. But the rewards are real.

The process isn’t just about filling vacancies—it’s about building a team that can handle the workload and help your firm grow.

In the end, DTA took the plunge. And it paid off. Their firm grew, their team thrived, and they found the right balance between working on the business and in it. Frontline made it happen for them. We can make it happen for you.

FIND OUT MORE...

Schedule a call today to solve your capacity issues offshore.

Hunting for Success

How Bene Footwear found their perfect solution

@tidyint

Amelia Douglas, Content Creator, Tidy

Amelia began working as an apprentice in the Marketing team at Tidy at the beginning of this year. With a passion for creating engaging content with a positive impact, Amelia provides an exuberant flair in bringing Tidy’s vision to life.

After two years of searching, Bene Footwear found their perfect solution. But what made it all worth the wait?

The Origin Story

Bene Footwear’s story began in 1991 in Upper Hutt, New Zealand. Originally a small store focused on safety and first aid supplies, they gradually transitioned to wholesale distribution of highquality footwear and rebranded to Bene Footwear.

Today, they have a network of dedicated distributors across New Zealand, bringing three incredible brands, Andrew Footwear, Grisport, and Crispi, to customers nationwide.

The Neverending Hunt

Like most small companies, Bene Footwear started by managing their stock with handwritten invoices and statements before adopting a software solution. For

25 years, this solution worked.

However, in the last ten years, they became increasingly dissatisfied with the “on-prem” software, which was too slow and costly and becoming rapidly outdated by not evolving to keep pace with the new era of cloud technology, softwareas-a-service (SaaS).

Ed Lenders, Director of Bene Footwear, explains, "They changed from being a flexible personal company to a corporate company. Every time there was an upgrade, software was more difficult to use and became more expensive.”

With frustration mounting, Bene Footwear made the decision to search for a new software solution. For two years, they looked for an alternative that could tick all their boxes. As a wholesale company, it was difficult to find something that

could do everything they wanted, but Bene Footwear continued their relentless hunt for the perfect solution.

During this search, they stumbled across Tidy, a stock and project management solution that seamlessly integrated with Xero, an accounting software.

“At first, Tidy couldn’t do everything we needed, but they had a good attitude to get us everything we wanted,” Ed says.

“We also liked that Tidy is New Zealand-based, and we would end up with a much better package than what we had previously.”

Understanding the steep learning curve involved with changing software, Ed researched Tidy thoroughly and had the software trialled by other members of staff before taking the plunge.

Bene Footwear now uses TidyStock, Tidy’s inventory management solution, in their day-to-day operations. In conjunction with Xero, Tidy is now how they work to process all orders and control stock.

Crafting the Perfect Look

While stock control at Bene Footwear was now running smoothly, they were also battling another issue. Their B2B website

This article is

Bene is your destination for premium Italian hunting, hiking, and outdoor footwear in New Zealand

was built to work with their former stock management software solution, which was often slow and required a lot of patches and other software to make it work.

“It was very expensive to build, cost a lot of money to run every month, and was never designed to be used as an e-commerce platform,” Ed says.

After a disappointing attempt to remake their B2B website with their own web developers and a large European-based e-commerce platform, Bene Footwear reached out to Tidy for help and discovered TidyCommerce, an e-commerce solution that connected with TidyStock.

“I got talking with Daryl [Operations Director at Tidy], and given our short timeframe and costs, we decided to rebuild with TidyCommerce,” recalls Ed.

“The package that Tidy offered us was unbelievably good. We were well looked after the entire time, and we really felt that Daryl and Alice looked after us on our journey.”

Alice Holloway, Tidy’s web developer, worked on the site, and her extensive knowledge of TidyCommerce allowed her to work quickly, completing it in just two weeks. She describes the build as a “simple process”.

“I started by logging in to Bene's TidyStock account to understand their needs and customer price tiers. From there, it was easy to connect the API and transfer the data across from TidyStock into TidyCommerce,” she explains.

“Once this was done, they only needed to tweak the minor changes they wanted to the visual layout of the B2B and test!”

The Final Solution

Bene Footwear and their customers are delighted with the website, and Ed raves about his experience:

“We were really impressed with Daryl’s passion and technical knowledge. We wanted a B2B site that our customers would love to

use, so we listened to them, and they love it.”

Today, TidyStock and TidyCommerce work as a powerful duo in Bene Footwear’s daily operations, increasing customer satisfaction at the storefront and streamlining internal processes behind the scenes.

Their journey from handwritten invoices to integrated cloud-based inventory management and e-commerce solutions with Tidy has been transformative. Bene Footwear stands as a testament to the benefits of perseverance in finding the right tools to propel their business forward.

To find out more about how you can make your business Tidy, visit: tidyinternational.com/ solutions FIND OUT MORE...

Plooto automates your clients’ AP and AR in one place. And since it integrates with accounting software like Xero, it saves you hours on managing finances and balancing books.

Tax Season: You’ve Been Doing It Wrong All Along!

Unless you've hit deadlines, boosted productivity, and increased profits all at once!

Craig Chatwin, Director of Strategic Growth, QX Accounting Services

Craig is a seasoned leader with 25+ years of experience in driving growth, strategic transformation, and operational excellence. His career includes senior roles such as Partner and Head of Tax for Scotland and COO of an accountancy and wealth management firm.

At QX, Craig focuses on fostering a high-performance culture, mentoring leaders, and expanding the firm's presence across the UK and Ireland while implementing innovative strategies for growth.

90% of UK accountants face burnout, with 33% reporting it as a ‘severe concern’, especially during the busy tax season.

This statistic is alarming and can cost your firm significantly in terms of increased errors, missed deadlines, and potential revenue loss. You may be wondering, “But what am I doing wrong?”

Tax season is often a grind.

With last-minute requests piling up, it's tempting to push your team too hard. This leaves them

overwhelmed and burnt out, resulting in unexpected staff exits, sick days, and chaos just before the deadline.

The mistake many firms make is not getting the right support at the right time. Firms that thrive during the tax season understand that success requires strategic partnerships, particularly through outsourcing.

By leveraging outsourcing, you can ensure your team isn't stretched too thin, allowing them to focus on higher-value tasks and client relationships.

Here’s how QX can support your firm during the tax season:

• Diverse Talent Pool: As outsourcing industry leaders, we provide you with access to a wide range of certified and

Payroll solutions for successful businesses

Set-up, training and free ongoing support via phone and email

Comprehensive Reporting Suite with 50+ reports including HR

Suitable for all business sizes (1 - 1,000 employees)

ipayroll.co.nz cloudpayroll.com.au

experienced tax preparers who can handle your firm’s increased workloads without compromising quality.

• Quick Turnaround Times (TAT): With efficient processes in place, we can turn around your tax prep quickly, ensuring you meet every deadline without stress.

“QX staff are extremely competent. They understand UK tax law and have fantastic communication skills.”

• VolumeBased Discounts: We understand that tax season can strain budgets. Our volume-based pricing allows you to save money while ensuring you have the support you need. The more you outsource, the less you pay!

• Trusted by 500+ Clients: Our track record speaks for itself. With a CSAT score of 96%, we’re trusted by firms like TaxAssist Accountants and DSK LLP, showing our commitment to your success. When you partner with us, you’re choosing a provider that prioritises your success.

- Laura Dutton, Partner, DSK Partners, LLP

Real Success, Real Impact

Get Tax Prep Right with Us!

• GDPR Compliance: We prioritise data security and adhere strictly to GDPR regulations, giving you peace of mind that your clients' data is protected.

Outsourcing isn't just about offloading work; it's about driving sustainable success and increasing profits while keeping your existing team intact. A great example is a Surrey-based accountancy firm that partnered with QX to manage a heavy workload of 700+ returns during peak tax season.

With QX handling 40-50 tax returns per week, the firm completed all 700+ returns before the deadline with 100% accuracy. This allowed the practice to boost tax season productivity by 33% and generate an additional £70,000 in profit.

Don’t let burnout disrupt your tax season. Partner with certified experts who can help your firm thrive. Our tax prep services start at just £40*. This tax season, get the right support at the right time and watch your firm excel.

or request

Transform in Action

Exclusive access to our resource hub featuring a wealth of templates, guides and training to optimise your Advisory services.

Drumm Nevatt & Associates Limited

Five powerful products

Use our Xero integration to create powerful reports and forecasts. Import your data and transform numbers into insights in just a few clicks.

From Tuatapere to Global Talent

How The Back Room Redefines Offshoring

This article is

Wayne Findlay, The Back Room Offshoring Inc., CEO & Founder

Wayne Findlay is the founding director of The Back Room. With a passion for information technology, he explores new software and drives innovation in the business. A dedicated family man, Wayne shares his love for the outdoors and sports with his two children and often rides his bike to work, opting for Lycra over a suit.

Discover how The Back Room connects global talent with accounting firms.

From the Farm to the Forefront of Offshoring Innovation.

Growing up in town of Tuatapere in the deep south of New Zealand, my brother Scott and I learned valuable lessons in independence and problem-solving. Surrounded by stunning landscapes and a supportive community, we cultivated resilience and a strong work ethic that helped us navigate rural challenges. Inspired by these experiences, we founded The Back Room to redefine accounting firms globally. You too can replicate this success by embracing challenges, building a supportive network, and focusing on efficiency and trust in your own endeavors.

The Offshoring Advantage

Offshoring shouldn't be confused with outsourcing. While outsourcing often means relinquishing control to a third party, offshoring with The Back Room allows you to maintain full oversight over your operations while benefitting from a global talent pool. This unique approach enables you to gain the advantages of skilled professionals who can contribute to your team without sacrificing quality or security—elements that are particularly critical in the accounting industry where precision and trust are paramount.

Here are a few key benefits of offshoring with us:

• Efficiency: By delegating routine accounting tasks such as bookkeeping and data entry to our offshore team, your onshore staff can concentrate on high-value services. This shift not only enhances client relationships but also drives significant business growth by allowing your team to focus on strategy and innovation.

• Talent Access: Offshoring opens the door to a diverse pool of skilled professionals from around the world. These individuals can grow alongside your business, bringing fresh perspectives, specialized expertise, and innovative ideas that can elevate your team to new heights. Having access to this talent means you can effectively respond to evolving market demands.

seamless teamwork, especially when managing projects across different time zones and locations.

"Embrace offshoring to work smarter, not harder."

• Cost Savings: One of the most compelling reasons to consider offshoring is the potential for significant cost savings. By leveraging reduced labor costs and operational efficiencies, your firm can allocate resources to other critical areas, such as technology upgrades or employee training programs, ultimately driving further value and performance improvement.

How to Get Started with Offshoring

• Cultural Fit: Our rigorous recruitment process ensures that your offshore team aligns with your firm’s values and work culture. By selecting candidates who share your vision and approach, we foster an environment of collaboration and trust, which is crucial for

For those considering offshoring, it's crucial to conduct a thorough needs assessment to ensure a successful transition. This involves evaluating your current operations and identifying areas where offshoring could provide the most benefit. Here are the steps to kickstart your offshoring experience:

• Identify your needs: Start by understanding which roles or functions can be effectively offshored. This may include repetitive tasks that don’t require direct client interaction,

freeing up your local team to focus on roles that add greater value to your firm.

• Select the right partner: Look for a provider with proven expertise in your field. It's essential to ensure they have a track record of success and a deep understanding of your industry nuances. Evaluate potential partners based on their experience, technology solutions, and client testimonials to make an informed choice.

• Integrate seamlessly: Use cloud-based tools and technologies to ensure seamless communication and integration between onshore and offshore teams. Establishing collaborative platforms can foster a unified work environment, making it easier to manage projects and share information in real-time.

• Focus on training: Invest in onboarding and continuous development to maximize the potential of your offshore team. Providing comprehensive training and regular feedback ensures they are well-equipped to meet your firm’s standards

and adapt to changing requirements over time.

Offshoring is about freeing your time so you can work smarter instead of harder. By embracing offshoring, firms can streamline their operations, harness global talent, and ultimately position themselves for sustained success in the marketplace.

Building a Community of Success

Beyond mere business transactions, fostering a supportive community is essential for all parties—clients and staff alike—to thrive. Clients value the new career opportunities created by this model, which not only enhances operational capabilities but also enriches the lives of everyone involved. Meanwhile, offshoring professionals benefit from rewarding relationships with firms worldwide, contributing to a positive work culture.

Ultimately, a successful partnership is dedicated to mutual growth and success. This collaborative approach ensures that businesses can flourish as they unlock the freedom to dream bigger and achieve more. At The Back Room, we understand that

by caring about our staff and their well-being, we drive our clients' success, making it a win-win for everyone.

Where does this leave us?

To begin your offshoring journey, start by identifying the specific needs of your business and exploring potential partnerships with skilled global talent. Offshoring can enhance operational efficiency, reduce costs, and provide access to a wider range of expertise. By embracing this strategy, you can unlock new opportunities for growth and innovation, allowing your business to thrive in a competitive landscape.

Take the first step today, and discover how offshoring can transform your operations and propel you toward success.

"Success is measured by relationships, family time, and balance in life."

Explore Offshoring with Us!

Is cash basis or accrual accounting better for my startup client?

@mercury

Dan Kang, VP of Finance, Mercury

Daniel Kang is VP of Finance at Mercury working to reimagine a better banking experience for startups and businesses of all sizes. Before leading finance for Mercury, he was VP of Finance for Digit and has also worked in finance and strategy at Square, Vista Equity Partners, and Bank of America. He holds a BS in Finance and Philosophy from NYU Stern School of Business.

As an accounting professional serving startup clients, understanding the nuances between cash basis and accrual accounting is crucial for guiding your clients towards financial success. This guide can help you navigate the complexities of these two accounting methods and their implications for startups.

Cash Basis Accounting: Simplicity for Early-Stage Startups

This article is

Cash basis accounting offers a straightforward approach that can be beneficial for early-stage startups with simple financial structures. This method captures transactions only when cash physically enters or exits the business, providing a clear mirror of cash flow. For instance, if a startup brings in revenue on a new software subscription customer in March, but the deal was finalized in February, it would be recognized in March when the cash is received, not when the agreement was made.

The simplicity of cash basis accounting makes it ideal for startups with uncomplicated financial transactions, reducing the time and effort required for bookkeeping. This can be particularly advantageous for your founder clients who are managing day-to-day accounts themselves. In the early days, founders will care a lot about their cash flow and runway versus having accurate, GAAP-compliant financials. Additionally, cash

basis accounting offers potential tax flexibility by allowing for the deferral of tax liabilities, as revenue is only recognized upon receipt of payment.

However, cash basis accounting has its limitations. For one, it can cause a skewed view of a startup’s financial health by ignoring receivables and payables. This financial misrepresentation can be problematic when seeking investment or loans, as it doesn’t provide the comprehensive financial insight often required by investors and lenders. As startups grow and their financial needs become more complex, it may be beneficial to transition to accrual accounting.

Accrual Accounting: Comprehensive Financial Reporting

Accrual accounting offers a more nuanced and robust view of a startup’s financial activities, aligning financial reporting with economic realities. This method works by recording revenue and expenses at the moment they’re generated rather than when cash changes hands. For example,

if a startup delivers a project in February but doesn’t receive payment until April, accrual accounting would record this revenue in February when the work was completed.

The primary advantage of accrual accounting is that it provides a complete financial picture by including a view of future cash activity from income and expenses that have already been earned or incurred. This offers a more accurate reflection of a startup’s financial status at any given time, which is crucial for assessing profitability, financial stability, and operational efficiency. The detailed financial insight provided by accrual accounting empowers better strategic decision-making, allowing your startup clients to anticipate future cash needs, evaluate profitability across different business segments, and understand the timing of income and expenses.

Of course, accrual accounting comes with its own set of challenges, too. While accrual accounting offers a complete picture of financial health, it can

sometimes obscure immediate cash flow issues. A business might appear profitable on paper while facing cash shortages in reality, necessitating diligent cash management and forecasting.

Guiding Startup Clients in Choosing the Right Method

When advising startup clients on selecting an accounting method, several factors should be considered. The size and complexity of the startup’s operations play a crucial role. For smaller startups with simple operations, cash basis accounting may suffice, while more complex operations might benefit from accrual accounting.

Industry-specific needs also influence the choice. Businesses operating on a straightforward cash-in, cash-out basis, such as retail, may prefer cash basis accounting for its clear view of cash availability. Conversely, industries engaged in long-term projects or experiencing significant delays between invoicing and payment might opt for accrual accounting.

The startup's growth trajectory and funding plans are equally important. Startups aiming for rapid growth or seeking venture capital may benefit from accrual accounting’s comprehensive financial picture, which is often preferred by investors and lenders.

It’s important to note that certain businesses are restricted from using cash basis accounting due to their size, structure, or nature of operations. These include public companies, large corporations, tax shelters, businesses with significant inventory, and financial institutions. If you also plan to be audited, accrual accounting adhering to GAAP principles will be required.

As an accountant, your role extends beyond merely explaining these methods. You should anticipate the need for transitioning from cash to accrual accounting as startups grow, educate your clients on the long-term implications of their accounting method, and develop customized solutions when appropriate. You should also feel comfortable recommending accounting software that can handle both methods and

facilitate a smooth transition when necessary. Most importantly, make sure your clients understand how to interpret accrual-based financial statements so they better understand their business.

By understanding these nuances, you can be an invaluable guide to your startup clients, helping them align their accounting practices with their business goals and growth trajectories. Remember, the right accounting method can significantly impact a startup’s financial reporting, tax obligations, and overall strategic direction. Your expertise in navigating these choices will be crucial in setting your clients up for long-term financial success.

"When advising startup clients on selecting an accounting method, several factors should be considered. The size and complexity of the startup’s operations play a crucial role."

The new Projectworks Academy

Real-world

expertise

at your fingertips

@projectworksio

Alison Murtagh, Partner Marketing Manager, Projectworks

Alison Murtagh is a talented writer and the Partner Marketing Manager at Projectworks. Passionate about connecting with accountants and bookkeepers, she helps them better serve their clients through insightful, impactful content.

We’re excited to introduce the Projectworks Academy, a free online resource crafted to empower professional services leaders with actionable insights and real-world expertise.

YThis article is

our professional services and consulting clients are powering real change and innovation.

From building our schools and designing public spaces, to combating climate change and cyber security, the work delivered by professional services and consulting businesses is incredibly necessary. But the industry has its challenges, as most do. They experience fluctuating markets, and growing pains like everybody else. So in order to keep doing what they’re doing, they need a little expert help.

Enter the Projectworks Academy.

Developed by and in collaboration with industry experts who truly understand the consulting industry and its challenges, Projectworks' new courses are designed to equip the learner with the skills and strategies needed to tackle today’s consulting challenges and drive meaningful change.

Here’s a quick overview of the Academy’s first two courses.

Positioning 101: How to stand out in the market

A marketing course built for non-marketers in the consulting industry. By taking this course, learners will gain strategic clarity and practical marketing skills, all grounded in realworld examples, to help them grow their firm and overcome business challenges.

Consulting businesses can take this course to:

• Learn how to craft a cohesive brand message that connects with their ideal clients and sets their firm apart.

• Gain the skills to confidently articulate what makes their services uniquely valuable and appealing to the right clients.

• Discover expert strategies to

differentiate their firm from the competition and showcase their unique strengths.

• Break through growth plateaus with actionable strategies to help their firm grow to the next level.

• Access simple, practical marketing techniques designed for non-marketers to help their firm grow.

[Go to this course]

Course Teachers

Mark Orttung - CEO, Projectworks

Mark was president of the President and COO of fintech platform Bill.com for seven years before becoming CEO of consultancy firm Nexient in 2014, which he led through a period of brand re-positioning, growth and acquisition.

Ellen Daley - Board Member, Advisor

Ms. Daley currently serves as an independent board member and advisor on several private professional service company boards, including Pierce Washington, Carbon60 & Astrica Ms. Daley most recently was CEO of Acorio, ServiceNow’s largest

boutique Consultancy that was sold to NTT DATA in 2020.

Jacob Lawrie - Head of Marketing, Projectworks

Jacob is a marketing leader and advisor to high-growth businesses. Prior to joining Projectworks he led marketing at Timely which was acquired by Nasdaq listed EverCommerce in 2021, and earlier was a part of cloud accounting software giant Xero

1% Advantage: How small changes can drive big results

Learn what small, practical changes can drive profitability. The 1% Advantage course leverages expert real-life examples and lived experience to teach professional services leaders and their advisors how to increase margins through small, impactful operational changes.

Consulting businesses can take this course to:

• Learn how to optimize employee utilization to capture every billable hour and stop leaving money on the table.

• Discover simple, strategic changes that help reduce operational costs and increase

the firm’s margins.

• Find clarity in their growth strategy with small, manageable steps that bring order to the chaos.

• Learn the metrics benchmarks of most professional services firms, and gain the tools to measure their own performance.

• Learn what small, impactful changes to make that will drive results without feeling overwhelming or disruptive to the firm.

[Go to this course]

Course Teachers

Stuart Watson - Education Manager, Projectworks

Stu is an education expert who joined New Zealand’s booming tech industry in 2014 after a decade in further education. He has combined his skills in education with tech innovation at various startups.

After years in various roles, from marketing, building products, and building one the first product teams for a government department. He has returned to his first passion with the aim of strengthening the Professional Services community.

Summary

The Projectworks Academy is made for your consulting clients to enhance their business skills and grow their professional services firm with practical insights from experienced leaders. If your professional services or consulting clients are struggling with growth, then The Projectworks Academy is for them.

Technology, educational resources, and business advisors such as accountants and bookkeepers, are vital for creating a thriving consulting and services industry. As we approach the end of year slow down, now is the time to prepare to start 2025 with a bang. Share The Projectworks Academy with your professional services and consulting clients (or even take the course yourself) and you’ll arm them with the knowledge and skills to fuel their growth in 2025 and beyond.

About Projectworks

Projectworks is a professional services automation platform that helps consulting and professional services companies around the world to better plan their projects, resources, and profits. Providing insights into real-time project performance and bottom line projections, Projectworks enables their customers to maximize billable time, streamline operations, and fuel growth.

Projectworks have a global network of business advisory and software implementation partners who help their clients succeed using Projectworks. Interested in joining the Projectworks Partner Community? Apply here.

Empower your skills in Payroll

Think outside the box with your Payroll Career

Becky

Dillon

, UK Customer Success Manager, Buddy UK

ICB Payroller of the Year 2024 after setting up a UK Payroll Bureau within an Accountancy Practice and building up a team of six and streamlining processes and using the best in tech. Over 20 years experience working within Payroll. On both in-house Payroll Processing to Ad-Hoc project work. Making the switch from a Payroll Manager to transform more companies lives by working in a up and coming Payroll software. A champion of making Payroll a career choice. Been in schools to motivate the younger generations and be educated on how important checking your payslip is and what to look out for. Qualified life coach. Has organized walk and talk events and is an advocate for mental health and wellbeing.

ayroll careers are all about the right opportunity. In her 20 years of experience, Becky Dillon has seen all the different sides of payroll: from employee of in-house payroll, to working in a bureau, management roles to bureau owner, and now a customer success Manager for Buddy in the UK.

In the earlier stages of her career, she struggled with her mental

health and consequently her confidence in the workplace. In her journey to becoming the ICB Payroller of the Year 2024, Becky needed to be given the right opportunities to grow her confidence.

As she took on more managerial roles, her skills expanded from payroll knowledge to more practical, high-impact decisions. This included overhauling processing workflows and

choosing the right software to deliver the right service for her customers.

Success in a payroll career requires the freedom to explore solutions that enhance one workflow. Reflecting on her experience, Becky sees that the ability to transform her customer feedback into actionable changes allowed her to shine.

Becky understands that payroll is much more than providing a service within a firm. Her work in the payroll work transcends what one envisions of a typical payroll job. She has visited schools in promoting payroll understanding, both as career choices and to empower future employees to understand their payslips. She's also published a video on NIC Changes which amassed over 74,000 views on social media and created debate around the UK government.

And now, she took the brave step into the other side of payroll: working as a Customer Success leader for Buddy's UK market.

This article is

Buddy sightseeing London :)

This new opportunity allows her to align her recent-found passion for wellbeing and life coaching, for which she became qualified during lockdown. In this role, Becky feels a new ability to impact a larger number of people through her work at Buddy.

In her previous role, Becky created a payroll bureau from the ground up, employing six in the team who fully utilised cloud aspects, integrations and API functions to deliver an impeccable workflow with a low budget. She was successful in improving the lives of her clients, and now wants to do so at an even larger scale.

It's with this enthusiasm that she embarked on her Customer Success role at Buddy. With her expertise and ability to put herself in the clients' shoes, Becky is helping Buddy fully understand the experience of bureau payrollers. She's met with numerous customers and prospective customers and is intrigued by the impact that payroll software can deliver.

In her first month at Buddy, she has observed customer feedback being implemented and is excited to be part of a team that will

make a huge impact to payrollers in the UK. In comparison, payroll software she is used to often lag behind, masquerading a static product with a pleasant user interface.Buddy differs in that they are evolving in the right direction and prioritising customer feedback in their product design.

One of the features that excites Becky the most is EverRoll™, Buddy’s take on automated payroll. Bureaus can automate tasks such as posting journals to integrated accounting software, freeing up a lot of time from manually syncing or inputting data between software

It’s a surprise that several Payroll Managers are still stuck with processes of manual input and sending documents manually, due to the lack of trust in their existing software. These managers feel like they have to “put up” with their current process.

More than anyone, Becky understands how daunting it is to switch software. That’s what sets Buddy further apart! The product includes onboarding and migration tools that aim to

simplify this process. In addition, the team at Buddy offers to be part of the onboarding journey and provides very prompt support, assuring you that clients are more than just another number.

As she entices more businesses to trust Buddy with their payroll, she is prepared to face the challenge of hesitation. Making the switch to ‘the new kid on the block’ takes courage, but Buddy is creating something truly special.

She hopes that managers see this as an opportunity of freedom, like the ones that gave her the confidence that is foundational to her career. The future of payroll is all about giving payrollers the right opportunities.

FIND OUT MORE...

To find out more, visit our website: buddy.hr/uk

DAS24

Advancetrack® launches Podsourcing® for accountancy practices

The best of both offshoring and outsourcing is codified by Advancetrack, as Podsourcing® is to be offered to accountancy practices looking to grow.

@AdvanceTrack

Vipul Sheth ACA CTA, Founder and Managing Director, AdvanceTrack Outsourcing

Vipul is a UK based ICAEW Chartered Accountant and Chartered Tax Advisor.

Vipul trained with a regional UK firm before moving to Ernst & Young and KPMG. AdvanceTrack is a UK Headquartered Accountancy Outsourcing Company with offshore operational centres, delivering services around the globe.

AdvanceTrack demonstrates compliance with international security laws including GDPR through certification to ISO27001:2013, ISO27701:2019 and BS10012 audited by BSI. Quality is certified to ISO9001:2015 and Business Continuity certified to ISO22301:2019

A podsourcing®

n evolution that could lead to a revolution in the resourcing of accountancy practices: welcome to Podsourcing® by Advancetrack.

An evolution that could lead to a revolution in the resourcing of accountancy practices: welcome to Podsourcing® by Advancetrack.

With 20 years of experience, Advancetrack has continued to develop the models that underpin its outsourcing and offshoring offerings to accountancy practices.

As such, Advancetrack is now ready to offer Podsourcing® services to the market.

What is Podsourcing®?

Podsourcing® acts as a hybrid of our outsourcing and accounting offshoring solutions, with named experts brought together by a multi-skill and multi-service team, offering you a more cost-effective and scalable solution for your outsourcing needs. This dedicated team of Advancetrack specialists will work with ONE accountancy practice client.

Our tried and tested team-based approach.

How is Podsourcing® different to offshoring and outsourcing?

There are similarities and differences between both. Outsourcing offers a variety of specialists to work with an accountancy practice client, and can be scaled, but without a dedicated connection to that practice.

Offshoring offers dedicated specialists that work for one practice, but they can often be isolated and difficult to replace.

Podsourcing® provides both specialists that are dedicated team members for the accountancy practice client, but the pod’s depth of members and collective knowhow is much more resilient than with individual offshored staff.

What are the benefits of Podsourcing®?

Podsourcing® offers a host of benefits to both firms and clients alike, unlocking new opportunities for further growth.

This includes:

• Improved scalability: it’s easier to add on new services or enhance existing skillsets to better service customers.

• Mitigates service disruption: with our team-based solution, service delivery is maintained as Podsourcing® removes an overreliance on individuals.

• More time for strategic thinking: more experienced team members can focus their efforts on more creative, strategic approaches, keeping customers happy and allowing them to focus on where the growth lies.

• Team skills development: through our Podsourcing® structure, junior team members have the opportunity to learn from senior, experienced accountants, learning on the job and staying motivated.

• More efficient and costeffective: work is completed by qualified and highly trained individuals at the right level, meaning it is completed to a higher standard in optimal timeframes.

For firms with more complex needs, and who will benefit from the strategic thinking of a seasoned accountant, combined

with the enthusiasm of a support team, Podsourcing® provides an appealing solution.

A team of talented individuals will bring their varying levels of expertise to better serve clients in the most time and cost-effective manner possible. When your accountancy firm decides to outsource accounting, finance, tax, audit or payroll services, it means your in-house team can focus on the specialist delivery of even more value and benefit for your clients.

Working as a multi-service team, our pods are a team of trained and qualified accountants based overseas with a focus on providing high-quality accountancy-related services, advice, support and insight.

Above all, Podsourcing® allows firms to keep clients more satisfied with the support they are getting, thanks to the flexibility and scalability of the team.

Who can access Podsourcing®? Is it being used?

In reality, we have offered iterations of this service to our

We chat to experienced tech sales chief Rishi Ruparelia about sharing a supportive mindset with accountants.

What is your current role and responsibilities?

I’m the sales account executive for Advancetrack. That means I look after existing customers from a sales perspective – i.e. do they have the right hours and people to get work undertaken; and then I actively engage with other firms about using Advancetrack.

What is your background?

I’d say that I’ve been in the professional services sales environment for ever! I initially sold legal software and then was headhunted by Xero back in 2014 to look after their London area. I ‘fell in love’ with accountants during this time.

largest accountancy practice clients for many years. However, we are building this model out more widely, enabling it to be offered to more firms. And, alongside some of our larger practices, we have other existing clients moving to this model right now.

“Podsourcing® offers the benefits of both outsourcing and offshoring,” explains Advancetrack founder and MD Vipul Sheth.

“Certainly, for accountancy practices looking to scale and grow, then we think Podsourcing® is the answer to what is a huge resourcing issue in the market.”

Podsourcing® and Advancetrack® are registered trademarks of E-Accounting Solutions Limited. Unauthorised use is prohibited.

To find out more, visit our website:

In profile: Rishi Ruparelia

I think I fit in well with accountants: they genuinely want to help clients and have a variety of skills and experience to use when supporting them. My instinct is to help the businesses I work with and sell to, whether it’s being more efficient from a process or financial perspective.

How did you get the role? How have the first few weeks gone?

I had offers floating around but because Vipul is seen as a ‘white knight’ in the industry I wanted to align with that. Ultimately, Advancetrack is viewed as a company that ‘does things the right way’, helping its people and that of partner practices develop.

Outsourcers and offshorers often provide ‘bodies’ to undertake work, whereas it differs at Advancetrack; not only are the staff well-rounded, but there is great

support from the managers behind the scenes – there is a team in the background providing support and making sure things get done properly. The practitioners I’ve spoken to have flagged up this positive aspect of their working relationship with Advancetrack’s people.

What does success in your role, and for Advancetrack®, look like?

It would be helping accounting practice leaders manage their productivity and resource needs, supporting them to achieve their firm’s ambitions. Practices have to get a grip on efficiencies (and having quality and timely data at hand) to both free up resources and then provide a more valuable service.

#1 Google Sheets Integration for QuickBooks and Xero

Save Time and Reduce Errors with Powerful Automations

-Accon is transforming financial reporting with seamless Google Sheets integration for QuickBooks and Xero. Effortlessly pull and push thousands of rows, automate your workflows, and eliminate manual data entry errors.

Unlock Efficiency for Accountants and CFOs

Managing financial data across multiple sources is complex and time-consuming. G-Accon’s features like Formatted Consolidated Reports allow users to consolidate data from Xero, QuickBooks, and other accounting platforms into a single, coherent report— automatically.

This powerful automation saves hours of manual work and reduces the risk of errors, streamlining complex financial tasks.

Why Automation Matters

Manual data entry isn’t just tedious; it’s risky. Human errors in financial reporting can lead to costly mistakes. G-Accon’s automated data synchronization ensures real-time accuracy, so finance teams can focus on more valuable tasks like analysis and decision-making.

“With G-Accon, we’ve streamlined processes that used to take us hours. Now, it’s just a matter of a few clicks.” — Jonathan Gaunt, FD Works

Customise Your Reports with Ease

Andrey Kustarnikov, CoFounder & CEO, G-Accon

Andrey Kustarnikov is the Co-Founder & CEO of G-Accon, with over 25 years of technical expertise in software development, microservices architecture, and cloud integration in the financial and banking sectors. He received an MBA degree and an MS in physics. Using these skills, he was able to build G-Accon, a tool that has proven its value to accountants and CFOs using Google Sheets. Andrey is excited about G-Accon’s future.

“G-Accon

cut our manual workload by over 40 hours a month” - Michael King, The CFO Accelerator

G-Accon’s White Label feature lets you tailor your reports to reflect your brand, making them professional and clientready. Financial professionals can customise templates and designs to create visually appealing reports that meet their specific needs.

“It really does elevate the perception of the value of the brand.” — Michael King, The CFO Accelerator

Real-World Impact: Success Stories

FD Works, a Bristol-based firm, struggled with manual data entry and rigid reporting tools. By integrating G-Accon, they automated these tasks and gained the flexibility to customise reports directly in Google Sheets, delivering faster and more accurate insights to their clients.

Similarly, Michael King from

The CFO Accelerator faced the challenge of over 40 hours a month lost to manual data tasks. With G-Accon’s integration, his team automated these processes, freeing up time for strategic work and significantly improving client outcomes.

“We were spending over 40 hours a month on manual data importing, exporting and manipulation. With G-Accon, that problem was eliminated.” — Michael King, The CFO Accelerator

Transform Your Financial Reporting

From small businesses to large enterprises, G-Accon’s advanced integrations save time, reduce errors, and elevate the quality of financial reports, helping you make informed business decisions effortlessly.

FIND OUT MORE...

Explore G-Accon’s features at: accon.services

From Paper to Pixels

The Journey to a Paperless Accounting Future

@ExpenseOnDemand

Sidd Nigam, Director, Expense On Demand

Sidd brings extensive experience in strategic partnerships across sales, product development, channel partnerships, engineering, operations, legal, and marketing. He excels in driving revenue growth through post-sales partnerships and optimising customer and partner experiences.

With a background at companies like Goldman Sachs, Microsoft, and Meta, Sidd now leads sales and marketing efficiency initiatives as a Director at ExpenseOnDemand

Learn how ExpenseOnDemand and Xero are driving the transition to paperless accounting, boosting the efficiency of businesses and reducing environmental impact.

ore and more businesses are recognising the limitations of traditional paperbased receipt management and are transitioning towards digital solutions to enhance efficiency, protect the environment, and drive sustainable business operations.

At the forefront of this transition to digital expense reporting is ExpenseOnDemand, which, in partnership with Xero, is making great strides in creating a world where accounting is paperless.

Let’s see how.

Protecting the Environment

If you haven’t given much thought to the waste generated by paper receipts, the statistics can be shocking. In the UK, over 11.2 billion paper receipts are printed each year

That’s equivalent to 200,000 trees being cut down and 10,640 tonnes of paper waste.

By making it possible (and more efficient) to use digital receipts for expense management, ExpenseOnDemand is actively decreasing paper consumption and waste generation, positively contributing to the preservation of the environment.

By relying more on digital receipts and digital expense reports through solutions like ExpenseOnDemand, accountants become less reliant on paperbased practices, significantly reducing carbon emissions associated with printing, shipping and disposal of paper receipts.

ExpenseOnDemand is also promoting eco-friendly practices across its user base, with features like carbon footprint tracking. With ExpenseOnDemand, users can designate expense categories for carbon footprint monitoring and can also track carbon emissions associated with mileage expenses, helping businesses stay eco-minded and committed to sustainability.

Driving Efficiency Gains

While protecting the environment is of course essential, the reality is that businesses will be slow to adopt eco-friendly solutions if they don’t increase their bottom line. Fortunately, digital receipt management with ExpenseOnDemand improves efficiency too

ExpenseOnDemand streamlines the entire process from receipt and expense report submission to expense approvals and reimbursement. Expense management automation can reduce expense processing time by up to 60%, and can also reduce errors that come with manually organising paper receipts.

Paper receipts are also easy to lose and prone to physical damage and fading. Digital receipts, on the other hand, can be stored safely and securely, and through ExpenseOnDemand’s integration with Xero, digital receipts can sync directly to a client’s existing accounting system. Integration with Xero also provides real-time

data insights, enabling proactive decision-making and financial management.

Overall, expense management software saves time for employees so they can focus on driving growth and innovation in the business.

Creating a Sustainable Business Model

The adoption of expense management software is also leading to more sustainable business models. For example, digital receipt management significantly reduces paper usage, reducing costs associated with printing and paper. One telling report found that the cost of processing expense claims can be reduced by as much as 78% per transaction with an automated expense management system.

With ExpenseOnDemand and Xero integration, businesses can track expenses in real-time to make sure they are up-to-date and accurate. ExpenseOnDemand also minimises human error by automating data entry and updates.

ExpenseOnDemand’s approval workflows can ensure that only

valid business expenses are approved by accounting. Proper compliance can ensure you maximise your tax deductions and are thoroughly prepared in the case of an audit.

For a small business with a few employees only, paper receipt management may be feasible. However, as a company grows it will naturally hire more employees and incur more expenses, making paper receipt management overwhelming.

Digital solutions like ExpenseOnDemand can scale with your business as it grows, accommodating more users. With multilayered approval hierarchies,

users can approve an increasing number of expenses, and through integration with Xero it’s easy to get a detailed overview of expense reports.

Through its commitment to sustainability, innovation, and efficiency, ExpenseOnDemand is paving the way for a completely paperless accounting future.

Simplify. Control. Grow Seamless Expense Management Software

Book

5 powerful features of Spotlight Forecasting you aren't using (but should)

et’s say we could see the future for our client, they want to retire but need to know their business is going to give them the retirement they want. In this case, it would be nice to have a crystal ball, wouldn’t it?

That’s where Spotlight Forecasting comes in (not quite a crystal ball, but still), our all-in-one budget creator, three-way forecasting, and scenario builder can help your clients prepare and plan for the future.

Our product is extensively customisable, and as you peel the layers back you’ll unlock a whole new level of insight. So whether you’re looking to impress your clients with insightful data, or want to dive deeper into your forecasting experience, we’ve put together five features for you to explore, test, and use. A few of these features will change the way you work, and some, well we just want to show off…

1. Driver Based Forecasting

You can set up drivers to enter business inputs which drive your forecasts. For example, you might want to budget for a specific number of units sold at a particular price. With the Drivers option, you can create additional accounts to hold this information and then use them in a dynamic rule to calculate the values for

the account. By updating the underlying drivers, you can quickly see how changes – for example, a price increase next year – affect your forecast.

2. Cloning/Duplicating/Copying Tasks

Once you've set up a forecast or budget, you can make a copy if needed. For example, you may want to take an existing forecast and amend it to show a different potential outcome for the business, such as increased revenue or costs, or a possible loan or asset purchase.

3. Optimise Loan Repayments

Does your client already have a business loan? What your clients might not know is that an existing loan they secured in the past could be relatively expensive in the present. This is an opportunity for you to work through different loan scenarios to improve the impact on your client’s cash flow. In Spotlight Forecasting, you can use Scenarios and the Loan Amortisation Rule to easily show the impact of selecting different loan variables.

4. Forecast Bank Covenants

This is one of our lesser-known expert features: KPIs and Covenants. You can quickly surface loan covenants in one place to help monitor metrics and

@spotlightrep

Matt Kekena, Product Experience Lead, Spotlight Reporting

Working closely with customers, Matt drives the product vision, strategy and experience to help you solve problems and open new opportunities.

assist with decision-making. So, how would you use this? Let’s look at an example:

Debt to Equity Ratio and Interest Coverage Ratio are two metrics that businesses need to monitor. Using the drag-and-drop formula builder in Spotlight Forecasting, you can quickly create these ratios and produce a ready-to-share report for your client or Board. A glance at the covenants will show all actual and forecasted values for the specified period. You’ll see how the business in question is tracking against these covenants, and the projected position based on forecast data.

5. Consolidated Forecasting

Consolidated Forecasting for up to 75 related entities. Save time and effort, and give your stakeholders the power to make confident decisions across multiple entities.

Want to stay in the loop? Follow us on LinkedIn to be the first to know about new features when they’re released. Ready to try Spotlight Forecasting?

Prepare, adjust and output a trial balance for an unlimited number of clients with AccountsPrep, an add-on to any AutoEntry subscription.

Make life easier

AccountsPrep is packed with features to make life easier for accountants and bookkeepers:

•Import a chart of accounts, or use one of our templates.

•Split large transactions into smaller for individual coding.

•Make adjustments via standard, double or manual quick journal edits.

•No more manual input of statement data into Microsoft Excel or accounts software.

•Create output for import to final tax software, or create P&L, balance sheet, trial balance, or tax reports.

• Single monthly subscription for use with an unlimited number of clients.

Get started now

The World’s Biggest Business Show | Golden 50th Edition

Connecting SMEs with renowned international brands and leading figures in business

Liz

Ainger, Marketing Executive, Business Show Media

Liz works in the Marketing Team at Business Show Media, responsible for writing press releases, articles, blogs, and managing the social media channels for our wide range of shows in the UK, Asia, and the US.

Save the dates: November 13th-14th for the Great British Business Show at ExCeL London. Join us in celebrating 50 editions of supporting entrepreneurship, innovation, and small businesses!

At ExCeL London, we’re celebrating 50 editions dedicated to championing entrepreneurship, innovation, and supporting small businesses. Whether you're just starting out or have been in the industry for years, there’s something for everyone at our expo, and there’s always something new to learn.

With free admission, our event features exciting keynote

speakers from major household brands like DELL, Hilton, LinkedIn, Google and Tesco, as well as our iconic speed networking concept, interactive stands from hundreds of businesses, masterclasses, panel discussions, dynamic product demonstrations, and much more.

Over the years, the show has been a hub for entrepreneurs and business professionals to network with like-minded individuals,

gain insights, discover new opportunities, and expand their networks.

Returning Keynotes

To celebrate our journey, we’re bringing back some of the most influential keynote speakers from prominent business platforms such as BBC’s Dragons' Den and Brewdog such as Levi Roots, Rachel Elnaugh and James Watt. Attendees will have the exciting opportunity to hear directly from these industry leaders, who will share their personal stories, insights, and invaluable lessons learned along the way. These sessions are designed not only to inspire but to equip you with actionable strategies that you can implement with your own ventures.

The £100k Launchpad Opportunity

The £100k Launchpad, debuting at the 50th edition of The Business Show, is an exciting initiative designed to kickstart your small business idea. Whether you’re starting with a new concept or are in the early stages of development, you can

submit your business idea and future plans for a chance to win a remarkable £100k package.

Participants will be shortlisted, and finalists will pitch their ideas live at the show in front of a panel of judges. The winner will receive £10k in cash, a free stand at next year’s event, and a comprehensive package of products and services worth £90k, thanks to our generous sponsors and exhibitors. This package includes financial support, professional courses, certifications, advanced software solutions, one-on-one workshops, expert consulting, tailored development, premium coaching, and intensive training programs.

Speed Networking

Imagine connecting with other professionals in a whirlwind of one-minute mini-meetings. Sponsored by DELL, this corporate twist on speed dating offers a fantastic opportunity to expand your real-life network with individuals from various sectors and industries. With each minute focused on making a strong impression, you’ll switch partners as soon as the whistle blows.

Whether you're seeking employment or recruitment opportunities, someone to handle your admin, a mentor in your field, or a potential business partner, the possibilities are limitless. Speed networking at

our show is designed to maximize your chances of making valuable connections in a dynamic and engaging format.

Interactive Stands and Masterclasses

Our interactive stands are where innovation meets opportunity. Engage directly with hundreds of businesses showcasing their latest products and services. From household names like DELL, Barclays, and Metro Bank to exciting new startups, discover what’s new and see firsthand how these companies are shaping the future of their industries.

Our masterclasses cover a wide range of topics essential for business success. Led by experts, these sessions will provide you with practical skills and knowledge, whether you’re interested in digital marketing, property management, or scaling your business.

See You There!

We look forward to welcoming you to a dynamic celebration of innovation, networking, and business excellence.

Prepare yourself for an event designed to inspire, educate, and elevate your business potential. Let’s make this 50th edition our most impactful yet!

The Accounting & Business Show Asia made its successful debut on 16 - 17 October in Singapore

Over 3,100 attendees enjoyed a buzzing expo floor, a jam-packed schedule of CPD-accredited conference sessions and amazing networking opportunities

@accandfinshow

Laura Binns, General Manager, Accounting & Business Show Asia, Terrapinn Asia

Laura joined Terrapinn in 2018 and launched the first edition of the Accounting & Business Show Asia. With a brand new name and identity, The Accounting & Business Show Asia sets the stage for innovation, agility and growth for accounting, finance and business professionals. The 2025 edition is set to return on 22 - 23 October at Sands Expo Singapore.

Recap the pumping energy and check out the key takeaways of the 2-day exhibition and conference

ast month, the Accounting & Business Show Asia made its successful debut with a brand new name and identity at the Sands Expo and Convention Centre Singapore

The 2-day event welcomed over 3,100 finance leaders, accountants in practice and business, bookkeepers, human resource, sales, marketing, IT

teams and business owners, who enjoyed a buzzing expo floor, a jam-packed schedule of CPD-accredited conference sessions and amazing networking opportunities. The event truly cemented its place as an unique forum for learning, discovery and engagement.

Over 130 sponsors, exhibitors and partners showcased the latest innovations in accounting

software, finance technology and digital business tools, offering attendees an unrivaled opportunity to explore a swathe of solutions and services designed to make their lives easier. They include Title Sponsor Xero (7th year running), Diamond Sponsor Summit and Platinum Sponsor Intuit Quickbooks.

Attendees witnessed innovation in action at the brand-new Start-up & Pitch Zone, which saw more than 70 of the region’s newest and brightest sharing industry findings and trending solutions that are redefining the future of accounting, finance and business. More than 35 Start-up founders also had the opportunity to deliver concise and impactful pitches to highlight their value propositions, promoting knowledge sharing and building a synergetic ecosystem.

5 CPD-accredited conference theatres (Digital Innovation, SME

This article is

Title Sponsor Xero taking a groupfie before the event kicks off

Finance Transformation, Digital Practice, The Enterprise CFO and the new SME Leaders Theatre) covered a diverse range of topics vital for accounting, finance and business leaders of tomorrow. Attendees clocked in up to 14 hours of CPD points while gaining valuable insights from more than 200 influential and seasoned expert speakers.

There was only standing room at the opening Keynote session by Xero, where Sarah Foo, Head of Sales - Asia emphasised on the importance of digital transformation, which allows businesses to thrive by improving efficiency, unlocking new revenue streams, reducing costs and making better decisions.

Juvanus Tjandra, Partner - Digital Finance Leader, KPMG also took the keynote stage and gave the

attendees some food for thought, including how accountants and finance business leaders need to have a venture capitalist mindset. The brand-new Roundtable Discussions also received overwhelming response, as attendees gathered in 9 intimate groups for focused discussions on the hottest topics and fostered collaboration.

Industry experts who took the stage include:

• Amanda Newton, Group Manager – Accountant Segment, Global Markets, Intuit Quickbooks

• Anneliese Ng, Director of Finance, FCM Travel Asia

• Bernard Aw, Chief Economist for Asia-Pacific, Coface

• Cyl Lin, Human Resources Director & APJ HR Business Partner, Tech Data APAC

• Daniel Hustler, Education Manager - Asia, Xero Asia

• Dr. Prasart Jongjaroenkamol, Co-Director of Master of Professional Accounting, SMU School of Accountancy

• Dr. Vincent Lim, Managing Partner, Eco Sustainability Group

• Garima Mamgain, Global Segment Marketing Manager, Auto Electrification, 3M

• Grace Lee, Head of Finance, Procurement and Risk, NTUC Health Co-operative Limited

• Ivan Phuah, Finance Transformation Partner, PwC South East Asia Consulting

• Jet Chan, AKA Services and

Digital Chief Financial Officer, GE Healthcare

• Jo-Ann Chung, Chief Executive Officer, Summit

• Joanne Ng, Senior Manager, E-Invoice Project Office, IMDA

• Kala Subramaniam, Chief Executive Officer and Board Member, Enam Asset Management (Singapore) Pte Ltd

• Lee Yun, Senior Manager, Goods and Services Tax Division

– General Branch, IRAS

• Nicholas Mclaren, Chief Financial Officer, dnata

• Sarah Foo, Head of Sales – Asia, Xero Asia

• Will Wyld, Finance Director, Digital Transformation, Unilever

• Xue Xia, Founder and Chief Executive Officer, Xenturo Strategies

The sense of community felt throughout the event was truly remarkable and it was a hub for innovation, agility and growth. We are extremely elated to announce the 2025 edition, which will take place at Sands Expo & Convention Centre on 22 - 23 October 2025. Prime booth positions and speaking slots are already filling fast. If you have a solution that you want to get in front of thousands of accounting, finance and business leaders from Asia and beyond, act fast to secure your ideal booth position and speaking slot. Submit your enquiry or reach out to the team now to discover a range of sponsorship or exhibition packages customised to your budget:

Laura Binns

General Manager

Email: laura.binns@terrapinn.com

Bess Delarosa

Business Development Manager

Email: bess.delarosa@terrapinn. com

Only standing room in the keynote theatre

Attendees making sure to commemorate their visit to the event with a photo

Accounts receivable automation for end-to-end control

Create professional sales quotes and invoices in ApprovalMax

ince 2018, ApprovalMax has been working with businesses globally to streamline their approvals and accounts payable processes. To help businesses get paid faster, we’ve released a series of features to help manage the accounts receivable process; from sales quotes through to sales invoices.

Getting started with sales quotes in ApprovalMax

To help you remove the time, hassle and stress from your invoicing process, businesses using Xero can now use ApprovalMax to create, approve, and send sales quotes to customers. Customers can accept the quote without

needing to access ApprovalMax. This gives sales teams more visibility over which sales quotes have been accepted and which ones need to be followed up on.

Here’s a step-by-step breakdown of a typical workflow in ApprovalMax for sales quotes:

1. Create quotes

Prepare quotes faster with quote templates. Benefit from overall consistency while speeding up the quote creation process.

2. Approve quotes

Ensure quote accuracy with internal approval. Handy for approving discounts, resources,

@approvalmax

Konstantin Bredyuk, CEO, ApprovalMax

With roots in business process management and optimisation software development, Konstantin has undertaken hundreds of product implementations for ApprovalMax clients worldwide.

Konstantin has advised numerous organisations on automation, financial controls, and client collaboration capabilities using Xero-based trusted app stacks, with business profiles ranging from SMEs to large accounting and advisory practices.

delivery dates, job details and more.

3. Send quotes

Easily share quotes with your customers. No need to email the quote – ApprovalMax sends it automatically once it’s fully approved.

4. Accept quotes

See when a customer accepts the quote. Allow sales to track the status of quotes and follow up on them.

Once this workflow is complete, create a similar workflow to move the sales quote over to a sales invoice.

This article is

Sales Invoices in ApprovalMax

To help save time and keep things moving, our accounts receivable invoicing process workflow has been built with layers of smart automation.

Here’s a step-by-step breakdown of a typical workflow in ApprovalMax for sales invoices

1. Create invoices

Quickly turn quotes into a sales invoice. Benefit from design and detail consistency while speeding up the invoice creation process.

2. Approve invoices

Approve details before sending to customers. Good for approving the total amount and whether goods or services have been fulfilled.

3. Send invoices

Easily share invoices with

customers. The invoice is sent to the customer straight away once it’s fully approved.

Why use ApprovalMax for accounts receivable processes?

We’ve built these new features to help organisations gain better financial controls over their accounts receivable process. ApprovalMax will help you and your client’s business to:

Say goodbye to manual approvals

Such as emails, personal messages, phone calls, and paper based approvals.

Speed up approvals

Remove the manual burden that comes with sales quotes and invoices, and have more visibility over your documents and where they sit. With ApprovalMax, 50% of requests are approved in less than one day.

“Many businesses have customer facing staff preparing quotes and invoices, but these need to be reviewed before they get sent to the customer. This can create a bottleneck in the process and result in lost business. ApprovalMax speeds up the time it takes for quotes and invoices to get created and sent to the customer, helping increase cash flow.”

Justin Campbell Solutions Engineer at ApprovalMax

Reduce errors

Cut down on AR errors and manual handling by using an automated process and organised workflow for sales quotes and sales invoices.

Get the full picture of the AR cycle

With ApprovalMax, it’s easy to see who has created a sales quote or an invoice, plus who has approved or rejected it. You can even see what’s been accepted and what’s pending, which gives you a tidy view of what’s going on at any point in the AR cycle.

Protect you and your client’s business

Confirm and approve details of the job such as service availability and delivery dates when billing, and sign off on important details to keep everyone on the same page. Further protect you and your client’s business with automated audit trails of the agreed quote that’s been approved by internal departments.

FIND OUT MORE...

To learn more about sales quotes and sales invoices, visit: approvalmax.com

The Returnto-Office Debate

Choosing the Right Path for Your Company in 2025

@HRPartner

Debbie Gainsford, HR Partner

Debbie draws on years of collaboration with HR professionals to guide HR Partner's customers. Her deep understanding of their needs ensures customers grasp all the platform's features and can leverage them to create a smooth, efficient user experience for their employees. She has a particular passion for highlighting the benefits of employee wellbeing, for both employees and employers.

No matter which model a company chooses—whether fully in-office, hybrid, or remote—having the right tools in place, like an HRIS, is essential to manage HR processes effectively and make informed decisions

AThis article is

s we head towards 2025, companies are taking a fresh look at the structure of their workplaces.

While some businesses are embracing a full return to the office, others are leaning into hybrid or fully remote models that have proven successful over the past few years. The decision is no longer just about where employees work, but about creating a work environment that supports collaboration, flexibility, and productivity. For many organizations, the key question now is: “What’s the best path forward for our workplace?”

No matter which model a company chooses—whether fully in-office, hybrid, or remote— having the right tools in place is essential to manage HR processes effectively and make informed decisions. An HRIS, such as HR Partner, can be a game-changer by streamlining HR administration and providing valuable insights through reporting on key data points. By centralizing employee information, tracking attendance trends, and measuring engagement levels, HR Partner equips leaders with the data needed to make evidence-based decisions about the ideal work model for their company.

fosters collaboration and boosts productivity. However, this approach may not suit every organization. In fact, a recent report from ResumeBuilder. com found that nine out of ten companies will have some form of return-to-office policy by the end of 2024, but many will still embrace hybrid or flexible arrangements.

Returning to the office isn’t just about reverting to old ways—it’s about evolving to meet the future needs of your organization

Evaluating the Right Fit for Your Workforce

Major companies like Amazon, JPMorgan Chase, and Goldman Sachs have made headlines by mandating a 5-day-a-week return to the office, arguing that face-to-face interaction

Choosing the right work model isn’t about following trends—it’s about understanding what aligns with your business needs and employee preferences. The key to navigating this decision lies in assessing factors like workforce demographics, geographic considerations, and company culture, while also leveraging tools like an HRIS to support your chosen approach. With the ability to easily report on metrics such as employee satisfaction, turnover rates, and remote productivity, HR Partner helps organizations make data-driven decisions.

Step 1: Assess Whether Return to Office is Right for Your Workforce

The first step in determining if an RTO policy is suitable for your organization is to identify your “why.” Begin with a deep evaluation of your business needs, workforce composition, and culture. Consider the following questions:

• Demographics: Are your employees predominantly younger, more tech-savvy, or do they have family commitments that make remote work more appealing?

• Geographic Considerations: Do most of your team members live within a reasonable commute to the office, or have they relocated during remote work?

• Nature of Work: Does your business require inperson collaboration, or are your processes and goals achievable with remote or hybrid systems?

• Employee Sentiment: Have you conducted employee surveys or focus groups to assess their preferences? An HRIS can help by easily gathering and reporting survey data, allowing you to track trends over time.

• Cultural Impact: Is inoffice interaction crucial to maintaining your company culture, or has remote work actually fostered more inclusivity and flexibility?

• Financial Costs: Will the cost of maintaining an office space outweigh the benefits of returning? Does remote work result in cost savings or productivity boosts for your company?

What works for a company like Amazon may not be the best fit for your business. It’s important to evaluate your unique dynamics and align your decision with the needs of your workforce. Using an HRIS like HR Partner allows for easy analysis of key data points that can guide these choices.

Step 2: Implement Best Practices for Returning to the Office

If a full or partial return to the office aligns with your goals, here are some best practices to guide your transition:

• Set Clear Guidelines for In-Office Days: Establish consistent days for in-office collaboration to ensure teams can maximize face-to-face time. Make sure the time spent in the office is productive and facilitates meaningful interaction.

• Maximize Flexibility: While some companies are opting for five-day office weeks, flexibility is still key. Options like staggered hours or hybrid arrangements help maintain employee satisfaction while meeting in-office requirements.

tasks, maintaining compliance, and enabling employee selfservice, HR Partner ensures that your HR practices remain consistent and efficient across various work models.

In addition to streamlining administrative tasks, HR Partner offers robust reporting capabilities. This allows businesses to analyze key data points, such as absenteeism trends, employee satisfaction levels, and turnover rates, helping HR teams make informed decisions about work models and identify areas for improvement.

Choosing the right work model isn’t about following trends—it’s about understanding what aligns with your business needs and employee preferences.

• Design for Focus and Collaboration: Plan in-office days for activities that benefit from face-to-face interaction, such as team meetings and client presentations, while reserving remote days for tasks requiring deep concentration.

• Move Away from the Traditional 9-to-5 Model: Even with a five-day office week, work schedules don’t need to follow a strict 9-to-5 structure. Consider flexible hours, shorter in-office days, or compressed workweeks.

The Role of HR Partner in Supporting Your Workforce

No matter where your employees are based, managing HR processes effectively is crucial to keeping your team engaged and productive. An HRIS like HR Partner can simplify HR management, providing a cloud-based platform that works seamlessly for office-based, hybrid, and remote teams. By automating time-consuming

Looking Ahead: Finding the Right Balance for Your Company

As companies like Amazon advocate for a full return to the office, it’s crucial to remember that not every organization has the same needs. Hybrid and remote models continue to provide significant advantages, including work-life balance, cost savings, and access to a broader talent pool.

The future of work in 2025 is about creating an environment that fits your company and your people, whether that means returning to the office, adopting a hybrid approach, or staying fully remote. With the right tools, like HR Partner, in place, you can manage your HR needs effectively—no matter where your team is located.

Returning to the office isn’t just about reverting to old ways—it’s about evolving to meet the future needs of your organization. Book a demo to find out more

FIND OUT MORE...

hrpartner.io

How Small Business Owners can take Care of their Mental Health

or small business owners, maintaining mental health can be challenging due to the constant demands and pressures of running a business. However, prioritising mental well-being is crucial to sustaining both personal and professional success. Consistent research and data show that small business owners are more impacted by mental health issues than the general population.

Here are some strategies for busy small business owners to take care of their mental health:

1. Set Boundaries

Define Work Hours: Establish clear start and end times for work, and avoid letting business tasks spill into personal time. This can help prevent burnout and improve work-life balance.

Delegate Tasks: Accept that you can’t do everything yourself. Delegate tasks to trusted team members or outsource specific functions like accounting or marketing to reduce your load.

2. Practice Time Management

Prioritise Tasks: Focus on highimpact tasks and eliminate or delegate lower-priority ones.

Schedule Breaks: Taking short, regular breaks can boost productivity and reduce stress.

Even 10-15 minutes of downtime can make a big difference.

3. Develop a Support Network

Build a Peer Group: Connect with other small business owners or join business communities where you can share experiences, get advice, and provide mutual support.

Consider Professional Support: Therapy, coaching, or business mentorship can provide an outlet to discuss stressors and find strategies to cope with challenges.

4. Mindfulness and Stress Management

Incorporate Mindfulness Practices: Even a few minutes of meditation, deep breathing, or mindful reflection can help reduce anxiety and improve focus.

Physical Activity: Exercise is a proven stress reliever and mood booster. Even short walks or a brief workout can improve mental clarity and well-being.

5. Celebrate Small Wins

Acknowledge Achievements: Recognising and celebrating small successes can provide motivation and a sense of progress. It helps shift focus from constant challenges to positive growth.

Set Realistic Goals: Break down big goals into smaller,

Tim Hoopmann, Speaker and Trainer

Experienced founder with a demonstrated history growing small business. Strong entrepreneurship and professionally skilled in Business Planning, Cloud Technology, Sales, Marketing, and Operations Management. A passion for helping small businesses use technology as a key enabler to increase productivity and decrease costs.

manageable steps to reduce overwhelm and allow for moments of accomplishment.

6. Maintain Healthy Habits

Prioritise Sleep: Poor sleep can exacerbate stress, affect decision-making, and reduce productivity. Create a sleep routine that allows you to recharge properly.

Healthy Eating: Balanced nutrition can have a direct impact on energy levels and mood. Avoid skipping meals and aim for nutrient-rich foods.

7. Learn to Say No

As a business owner, there will always be opportunities and demands for your time. Knowing when to say no to certain tasks, meetings, or projects that don’t align with your priorities is key to protecting your time and mental health.

8. Take Time Off

Even short breaks or “mental health days” can rejuvenate you and prevent burnout. Plan vacations or at least extended time off from business tasks to disconnect and recharge.

By incorporating these strategies, small business owners can create sustainable habits that support both their business and their mental health. Balancing selfcare with business demands is essential for long-term success.

Chaser, the leading accounts receivable platform, is proud to mark its 10-year anniversary.

What began in 2014 as a tool to automate overdue invoice reminders has evolved into a globally recognized platform, and has empowered over 7,000 businesses to manage credit control efficiently. In the past decade, Chaser has helped businesses recover £30 billion in late payments and saved more than 6 million hours of manual work by continuously advancing the field of credit management with AI and automation.

Since its founding, Chaser has been dedicated to solving the critical issue of late payments, which continues to affect businesses worldwide. Over the past 10 years, the platform has evolved significantly to include a comprehensive suite of AI-powered features and automation tools designed to streamline credit control and ensure businesses are paid on time.

10 years of growth and technological advancement

Chaser’s dedication to innovation

has driven the development of cutting-edge AI features, including predictive tools that offer businesses actionable insights on credit risk and payment behavior. Key advancements include:

• AI-driven late payment predictions: Allowing businesses to forecast late payments and take proactive steps to reduce credit risk.

• Recommended chasing times: Optimizing when reminders are sent, ensuring businesses engage with customers at the most effective times.

• Payer ratings: Providing realtime summaries on customer payment behaviors to help businesses prioritize collections and make efficient, data-driven decisions.

• Revenue forecast: Lets businesses improve their financial planning with accurate, AI-generated revenue predictions using advanced machine learning models.

By implementing AI and automation into these aspects of accounts receivable management, Chaser helps businesses save time, improve cash flow, and

reduce reliance on manual processes.

Recent years have also seen Chaser further advance its automation capabilities, to make invoice payments faster and easier for businesses.

The introduction of automated SMS payment reminders, as well as automated debtor calls and postal letters in 2023 and 2024 has given businesses more ways to follow up on late payments.

The launch of the user-friendly Payment Portal in 2021, followed by Chaser Pay in 2023 provides debtors with an easy portal to settle invoices with multiple payment options.

These Payment Portals can be linked to within automated follow up channels like SMS reminders, postal letters via QR codes, and email payment reminders; helping businesses offer debtors maximum convenience, and bringing payments in an average of 35+ days faster.

Integrating with leading business tools

Chaser’s open API, launched in 2023, represents a major step

in enabling greater flexibility for businesses. The API allows Chaser to integrate with any accounting system, ERP, or CRM, making it easy for companies to embed Chaser into their existing workflows.

Partnerships with leading platforms such as Microsoft Dynamics 365 Business Central, QuickBooks, Sage, AccountsIQ, Zapier, and Stripe have further strengthened Chaser’s position as a versatile tool for businesses across a wide range of industries over the past decade.

Industry recognition and achievements

Chaser’s commitment to innovation and technology has been recognized with numerous awards, underscoring its leadership in the accounts receivable space. In 2024, the company was named best technology provider at the

Credit Strategy Awards, and in 2023, Chaser won best use of innovation in business from Management Today. Other accolades, such as being named Xero App Partner of the Year (2023) and receiving the best use of technology award at the Credit Awards (2022), further highlight Chaser’s impact on the credit management industry.

CEO's vision for the future

Reflecting on this milestone, Sonia Dorais, CEO of Chaser, said: “Reaching this 10year mark is a significant achievement, but it’s only the beginning. We’ve grown from a simple tool into a platform that automates the entire accounts receivable process. Our goal is to continue pushing the boundaries of innovation in credit management, making sure businesses get paid on time, in the most efficient way possible."

Looking to the future, Chaser is committed to further enhancing its platform with AI and automation, helping businesses overcome late payments and improve their financial stability.

FIND OUT MORE...

If you’d like to find out more about how Chaser can support your business with late payments, speak to an expert at Chaser today.

Revolut reaches 10 million customers in the UK

Revolut, the global financial technology company has today announced it has reached ten million customers in the UK. Revolut’s largest market, and where the company was founded in 2015 has added nearly two million UK customers so far in 2024 and continues to grow. Revolut has over 45 million customers globally.

Francesca Carlesi, CEO of Revolut UK, commented: “Today’s announcement is a tremendous achievement for Revolut. Ten million customers across the UK makes us one of the largest payments businesses in the market, and we are incredibly grateful to our growing customer

base, who continue to use Revolut more and more.

The UK is our home market, and is the base for the company’s wider global expansion plans. As we work towards launching the bank in the UK in the coming months, we will continue to offer products and services that improve the financial lives of everyone who uses Revolut.”

Key company highlights in 2024:

• In August, Revolut signed agreements with a group of leading technology investors to provide liquidity to employees through a secondary share sale at a $45 billion valuation.

• In July, Revolut received its UK banking licence with restrictions from the Prudential Regulation Authority (PRA).

• In July, Revolut announced the appointment of Fiona Davies as Head of Growth for UK, Ireland, and Nordics.

• In June, Revolut announced it will move its global headquarters to the YY London building in the centre of Canary Wharf, committing to a ten year lease

• Revolut launched a number of products to UK customers including; RevPoints, eSIM, Mobile Wallets, Wealth Protection, and others.

What’s new in Xero –October 2024

This article originated from the Xero blog. Any content, imagery and associated links are directly from Xero and not produced by XU Magazine. You can find the original post here

his month’s Xero product updates include exciting new features and enhancements to streamline your workflows and boost productivity.

From rolling out new tools for our accountants and bookkeepers, to improvements to the Xero Accounting app, and tools for managing inventory, Xero’s

October updates offer valuable enhancements for both small businesses and advisors alike. Read on to discover how these updates can benefit you.

Global: Get a snapshot of your client’s financial health in Xero Practice Manager and Xero HQ

Client insights is now available for all Xero partners.

The insights screen in Xero HQ (and coming soon in XPM) shows you the latest financial data across all your business edition clients, to help you identify which clients would benefit from your support or advice and a timely conversation. Read more in the blog post: A new Xero dashboard to elevate your advisory services.

Global: Manage finances from anywhere with Xero Accounting app enhancements [Product Idea]

We’ve also made it easier to share invoices from the Xero Accounting app on iPhone, so you can manage them more efficiently on the go. You can now share invoices on any available app on your mobile device (e.g. Messages, WhatsApp and more) with a few simple taps.

Global: Managing your inventory is now more efficient [Product Idea]

It’s now easier to navigate your products and services list and view key information at a glance with new inventory filtering options within Xero Inventory. Filter inventory items by type (tracked or untracked) and apply this filter to your export. Your export file will also show the quantity on hand.

Plus, you can now customise your columns and save your preferred view as a default. These small (and highly requested) improvements will make it easier to track your inventory, to ensure you have the right stock on hand.

Global: Preview reports from the layout editor

Check out the new preview panel in the layout editor of all reports in Xero. This enhancement will help you to customise report layouts with minimal effort.

AU, UK, NZ: Accept payments without the hassle of creating an invoice

Xero customers can now sell any time, anywhere, by creating a payment checkout without the need to create an invoice. Simply generate a payment link to share with your customers, and keep track of when you’ve been paid. No set up is required, but you

must be connected to an online payment provider such as Stripe, GoCardless, or Paypal.

Laura Binns General Manager

Bess Delarosa Business Development Manager

Updates and new releases from Xero connected apps

Are you a Xero-connected App? Got a new feature or update you’d like to share with the Xero User community? Email alex@ xumagazine.com New feature shout-out

ApprovalMax approvalmax.com

Want to know more about what else is new in ApprovalMax? Our other recent updates include:

• Record expenses and revenues accurately - Xero Accrual Reports Improve editing with bulk actions - Xero Line Items

• Merge bills from suppliers and streamline paymentsApprovalMax Pay

• Assign reviewers to check and edit requests before approval - Review step for QuickBooks Online

• Snap photos or PDFs on mobile - ApprovalMax Capture (coming soon)

Expense On Demand expenseondemand.com

1. Expense Claim Reports / Claim Reports: The Finance Manager (FM) can enable the "Expense Claim Reports" feature, allowing users to organise expenses into a CLAIM REPORT for submission. This feature streamlines tracking, with options to partially approve or reject items for more flexible approval. Once activated, all expenses must be submitted via claim reports.

2. Scan and Receipt: The feature now gives users full control over when to scan receipts and match them to credit transactions, ensuring a smoother and more efficient process.

3. Split Map: Finance Managers can create and manage special categories in Expense

Management. Claimants can break down expenses into sub-categories on Web and Mobile. Approvers review detailed expenses, while Finance Approvers handles split expenses with VAT adjustments. Exports can include sub-category breakdowns with multiple line items.

4. Split Category Changes: Finance Managers can create and manage special categories in Expense Management. Claimants can itemise expenses by sub-category on Web and Mobile. Approvers review itemised expenses, and Finance Approvers handle split expenses with VAT adjustments. Export options are also available.

G-Accon accon.services

We’re excited to announce two new additions to G-Accon:

1. White Label Feature: Customize your financial reports with your brand’s logo, colors, and style. Create professional, branded reports that reflect your unique identity.

2. Formatted Consolidated Reports: Easily combine data from multiple Xero and QuickBooks entities into one cohesive, organized report. Streamline multi-entity reporting with automated formatting for clarity and consistency.

from clients and the industry, QX is thrilled to introduce our new Virtual Admin Services. Now, you can focus on your core tasks while we handle your administrative workload. Delegate the seemingly easy, anyone-can-do-jobs and save up to 66% of your in-house costs.

Rechound rechound.com

• Reconciliation approvals and certification

• 445 and custom period functionality

• Printable monthly report for audit and validation

• Account groups for reporting

Tidy

tidyinternational.com

Check out the latest releases from TidyClinic:

• Two-way SMS now supports multiple scheduled reminders by appointment category and allows customisation for specific days. SMS replies are shown across various pages, and appointments are now approved automatically from patient responses. Learn more here: https://academy. tidyinternational.com/tidyclinicguides/how-to-set-up-automaticappointment-reminderscheduling-via-sms

• Treatment plans now require selection between charging or completing before showing

Bookkeepers Assemble!

Live & on demand 13 - 14 November From £99 In person

Experienced bookkeepers, novices with numbers and bookkeeping students are all welcome at the Bookkeepers Summit.

Hello, Xerocon Brisbane 2025

Save the date for Xerocon Brisbane, from 3-4 September 2025 at the spectacular Brisbane Convention & Exhibition Center. Following the sold-out success of Xerocon Sydney 2023, you won’t want to miss out.

What to expect at Xerocon Brisbane 2025

An unmissable conference

Join the Xero community from around the world and be part of conversations shaping the future of accounting and business. Xerocon is a unique opportunity to celebrate our collective achievements, connect and explore the latest innovations on the Xero platform.

Immerse yourself in beautiful Brisbane

Discover Brisbane’s charm, where the river meets parklands, with a

vibrant arts and hospitality scene. With the Brisbane Convention & Exhibition Center as our home for 2025, Xerocon will embody the lively spirit of the Sunshine State, famous for its sunny weather and welcoming atmosphere.

Our best line-up yet

Dive deep with industry insights from world-class speakers and valuable networking opportunities, alongside like-minded peers. Xerocon Brisbane will feature speakers discussing technology, sustainability and wellbeing, making it what we think will be our most exciting event yet.

Enhance your offering with our Ecosystem Partners

Connect with Ecosystem partners offering solutions that integrate with the Xero platform. From payment and financial services to people and inventory management, discover tools to help streamline workflows, boost productivity and empower you and your clients' businesses to operate more efficiently.

The Xerocon wrap party

This article originated from the Xero blog. Any content, imagery and associated links are directly from Xero and not produced by XU Magazine. You can find the original post here To keep up to date with the

Xerocon wrap parties are legendary (if you know, you know), and the Xerocon Brisbane party will be no exception. Join us for an unforgettable night wrapping up two huge days. While the venue, theme and acts are under wraps, trust us—this will be one for the books!

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Prepare, adjust and output a trial balance for an unlimited number of clients with AccountsPrep, an add-on to any AutoEntry subscription.

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