Are they right for the cloud? You have a meeting with a prospective client wanting to move to a cloud based accountancy package. What do you need to ask them and does one size fit all?
G
et the basics right
accounting history and also establish if they operate with multiple currencies as this will dictate the version of Xero that they should use. Systems and Procedures
First and foremost you need to understand the client and establish what the issues are with their present accounting package. They may currently use a manual It is essential before you plan their system, want to be ready for new accounting package that you Making Tax Digital, require better understand the reporting or they work in processes and multiple locations so systems that need easy access “I often find that they currently to their financial clients have an idea have. Discuss this data. The list is with the client endless! Whatever what they want but and confirm the the reasons, many are not aware document flow this information of the apps that work and approval will allow you alongside Xero� processes as this to establish the will all feed into the requirements and the development of their new deliverables needed. accounting package. Next, you need to find out about Start Simple the client – this includes what do they do, where they operate and I often find that clients have an if they are VAT registered. Ask idea what they want but many are them about the shortfalls of the not aware of the apps that work system they use at the moment as alongside Xero. this will help you find out exactly what they want to achieve. This is Start by informing them about the essential as you need to address their needs at the outset. By getting benefits of bank and credit card feeds, apps to reduce processing to know them and letting them times (such as Receipt Bank and tell you their current problems, Autoentry) and apps to assist them you can customise the solution with reporting and forecasting such to their needs and suggest some as Futrli and Fathom. ideas which they may not have considered. Not all apps need to go live on day one. By implementing the system Another decision to be made in multiple stages, the client can is if they want to migrate their 70 / Issue 15
@MHUpdates
Caroline Harridence joined MHA MacIntyre Hudson Peterborough office in February 2017 having originally trained with PWC. Caroline is a Business Services Manager running the outsourcing team. Her team provides the full spectrum of services from general bookkeeping and payroll functions, through to the preparation of management accounts for presentation to clients at their monthly board meetings. Caroline has a keen interest in Cloud Accounting and is the Eastern Regional Cloud champion.
become familiar with it and gain confidence and experience before adding further apps at a later date. Migration Date Suggest migration at the end of the financial year or at the end of the VAT quarter if the client is VAT registered. Where they are not registered for VAT, there is no need to be as specific on the migration date as it is less critical. The target date to go live on the new accounting package will require forward planning because there will be preparation time needed. This is the perfect time to clean up the accounts, including tidying up customer and supplier information and reviewing and modifying the chart of accounts. Transaction volume Remember, some businesses are too big for Xero. This is not based on their turnover or profit but on the number of monthly transactions. Therefore always ask the client transaction volumes when deciding on a cloud package. Authorisations and Approvals Establish who is required to approve and authorise documentation at each step during the process. It may be that apps outside of Xero (such
XU Magazine - the independent magazine for Xero users, by Xero users. Find us online at: xumagazine.com
