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5 tips for a happy financial year in 2021

by XBert Team ~ 3 min read

Accountants and bookkeepers should take stock of their systems and processes now to ensure they miss out on headaches, errors and mistakes at the end of the financial year in 2021

Most people are celebrating the fresh start of 2021 but if you’re an accountant or bookkeeper, you know we’re only just on the downhill run towards the end of the financial year.

Instead of discovering the usual EOFY headaches at the final hour, now is the time to take stock and ensure you have the systems and processes in place to make the 2021 financial year smooth and pain-free.

Here are some tips to ensure your accounting practice workflow runs like clockwork come June 2021:

1. AI-auditing

In the world of cloud accounting, spending countless hours checking and re-checking your work and your teams work is a thing of the past. Using an add-on with AI-auditing within your accounting and bookkeeping practice removes the margin for human error, giving you peace of mind knowing your books are clean.

XBert features hourly AI-audit of your client’s data, with machine learning algorithms flagging coding errors, bookkeeping mistakes and discrepancies in real time.

2. Automate your processes

Forget lengthy and complicated spreadsheets: automating your process management will revolutionise your workflow (and your brain space). Imagine waving goodbye to spreadsheets and instead being alerted to what tasks need to be done, by when.

That’s the service offered with XBert. With the ability to create Templates for all your recurring Processes like End of Month, BAS Checklists or Quarterly Tax Preparation, you remove the need to manually create many of the recurring and usual tasks for yourself or your team.

3. Streamline your workflow

If you’re managing a team, spreadsheets aren’t always effective in knowing where they’re at and what they’re up to. Using a task management system that allows you to easily view what tasks need to be done, by who and when revolutionises how your practice is managed. Instead of learning about mistakes or someone being behind at the final hour, you can manage workload in real time.

The Work dashboard within XBert is a one-stop shop to view all the tasks that need to be done by each person within your practice. You have the ability to assign new tasks, re-assign if someone is on leave or under the pump, check the status and add due dates.

4. Easy client collaboration

Managing clients is a fact of life for most businesses. Helping them meet their tax reporting obligations in a timely manner is in any accountant’s job description. Getting all the information you need in a timely manner is not always easy. However - having the ability to quickly collaborate and communicate with your clients from within your cloud accounting is a game-changer.

Accounting add-on XBert not only features email integration but also features a Browser Extension that allows you to create tasks and ask client’s questions, while working within your accounting software.

5. Ensure data integrity

Great accountants don’t just look at the numbers – they’re able to advise clients on those numbers so they can make the best decisions for their business. Having data integrity is key to ensuring you’re giving the right advice at the right time.

XBert Analytics and BI Reports give advisors the tools they need to give correct, accurate and beneficial advice to their clients, without trawling through months of data. Available at the click of a button, these deep insights allow you to grow your advisory and add meaningful value to your accounting clients.

XBert BI Reports

But wait, there’s more…

Working with the correct tools in your business means smarter, more effective work and delivery. It doesn’t matter what niche market you’re in or what the scale of your business is – if you’re an accountant or bookkeeper, XBert has been developed specifically to help you.

With our AI auditing, task and process automation and analytics, XBert is the only tool for the industry that combines all the necessary functions for a smarter, streamlined practice workflow.

Why would you use just a task tool when you can have AI-audit, analytics and BI reporting built-in?

Find out how XBert can revolutionise your business by starting your free trial today.