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The 8 Steps to Accounts in < 2 hours and a $690 average hourly rate.

I love helping people. At Change Accountants – we’re not interested in getting our clients an extra cappuccino a week - we change people’s lives!

 But… if we don’t embrace change these days… we may be left behind very quickly. Change used to happen slowly so everyone could adjust, the world won’t wait that long anymore. What took 6 years to change now happens in 6 months. We’re in the middle of the digital age - a rollercoaster ride – hold on to your hats and enjoy the ride, or be flung right off!

 This brave new world that is unfolding before our eyes has 2 paths - one for the traditional accountant and one for the advisor - at Change we call ourselves ‘Life Accountants’.

Here are 4 reasons why traditional “compliance” accounting and tax fees will be under HUGE DOWNWARD pressure in the immediate future:

1.  Offshoring / Outsourcing – Competing with $6/hour CPA’s overseas.
2. Tax Returns to BAS at the click of a button in the next 3 years.
3. Worldwide advancements is Tech and Automation – Making things easier, cheaper and more convenient for everyone.
4. Consumer sentiment – Clients want more for their money and from their accountant / advisor.

 Here’s the secret: Technology is NOT the answer. It’s merely a tool that is used to create an efficient outcome.

 As much as we love Xero (and especially the people behind Xero) – Xero alone is not the answer. It’s how you USE IT to do great things for your clients – and benefit yourself by working smarter not harder.

 And while many people in the accounting industry are flogging outsourcing and offshoring – many clients and accountants for their own reasons aren’t comfortable with this.

 BIG QUESTION: I’ve seen pictures of the offshore accounting “sweat shops” full of people working at PC’s. “Security is great” we are told. USB ports are superglued – no-one can take any information out.

 CONUNDRUM: What’s to stop someone from leaving the sweat shop, going home and logging on Xero / Reckon / MYOB with a username and password and doing whatever they want with your client’s data??? No amount of super glue can stop that!

 Who can you trust??? Seriously!

 Our solution: AUTOMATE rather than offshore.

 How?: Outsource to Xero, rather than to the Philippines!

You can also download the infographic for the webinar here

Highlights and Time Codes

Introduction: 00:00

Who is ChangeGPS?:- 00:45

Life Accountant Movement:- 02:45

What is ‘Value Add’?:- 07:00

Introducing the ‘New Way’:- 10:00

Step 1 – Use Xero Practice Manager | Give your client an UPFRONT ESTIMATE of approx. $1,500:- 10:35

Step 2 - Outsource to Xero Cashbook, don’t Offshore to Philippines | In July set up a Xero Cashbook at $10 per month (or $19/month if you need GST) and set up Bank feeds.  Then leave it for 12 months:- 16:00

Step 3 - Train in house Jnr Accountants to Quick Code | It takes 30 min to code the years’ worth of imported data (based on 5 – 10 transactions per month):- 17:20

Step 4  – Use Xero Workpapers | Import that data into Xero Workpapers.  Compare this year vs last.  Create and send query email:- 19:12

Step 5 – Use Xero Ledger to Prepare Accounts (1 hr) | No need to suck it into a MYOB or Handisoft Ledger:- 22:23

Step 6 – Use Xero Tax to Prepare Tax Returns (1 hr) | Say goodbye to MYOB or HandiTax soon:- 27:38

Step 7 - Use BOX as a Cloud Document Manager | Upload source documents to the client folder in BOX using the native app within Xero Practice Manager for easy access anywhere, anytime from any device:- 30:45

Step 8 – Hold a mini AGM face to face or on Skype | Using the ChangeGPS Year End Tax and Accounting Summary Report:- 32:03

Step 9 – Be a Life AccountantTM | Replace the 4 hours of created CAPACITY with Freedom Planning - the most meaningful work you’ll ever do as an Accountant:- 32:45

If you would like the slides from this webinar OR you just want to delve a little deeper you can book in for a group exploration session for the ChangeGPS toolkit here

Introducing, the NEW way

$1,500 minus $120 (Xero Cashbook cost) / 2 hours = Equals $690 per hour.

Step 1 – Use Xero Practice Manager | Give your client an UPFRONT ESTIMATE of approx. $1,500 plus GST using our BEAUTIFUL Proposal templates and Quote Manager.

Step 2 – Outsource to Xero Cashbook, don’t Offshore to Philippines | In July set up a Xero Cashbook at $10 per month (or $19/month if you need GST) and set up Bank feeds.  Then leave it for 12 months.

Step 3 – Train in house Jnr Accountants to Quick Code | It takes 30 min to code the years’ worth of imported data (based on 5 – 10 transactions per month).

Step 4 – Use Xero Workpapers | Import that data into Xero Workpapers.  Compare this year vs last.  Create and send query email.

Step 5 – Use Xero Ledger to Prepare Accounts (1 hr) | No need to suck it into a MYOB or Handisoft Ledger.

Step 6 – Use Xero Tax to Prepare Tax Returns (1 hr) | Say goodbye to MYOB or HandiTax soon.  Yes!

Step 7 - Use BOX as a Cloud Document Manager | Upload source documents to the client folder in BOX using the native app within Xero Practice Manager for easy access anywhere, anytime from any device.

Value Add | Step 8 – Hold a mini AGM face to face or on Skype | Using the ChangeGPS Year End Tax and Accounting Summary Report.

Value Add | Step 9 – Be a Life AccountantTM | Replace the 4 hours of created CAPACITY with Freedom Planning - the most meaningful work you’ll ever do as an Accountant.