Why EOFY is the best time to move to Xero!

At Clarity Street, we're all about efficiency and best practice. That's why we work together with a variety of specialists in the industry to help provide our clients with the best experience possible. One of these specialists is Donnie Buchanan from Entry Counts. Donnie Buchanan helps accountants have their Xero Ledgers and Financial Statements process streamlined. This helps you save both time and money!

In the next few weeks, we'll be releasing a few articles written by Donnie that we thought would be beneficial to our clients. This first one focuses on 'Why EOFY is the best time to move to Xero'.

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History shows that accounting firms always find the June and July period as the best time to move to Xero.

So... why? There are a number of reasons!

1. Xero offers discounts and incentives

• There are always great deals from Xero around this period. Ask your Xero account manager.
• Don't know who that is? Go to Xero HQ / Practice / Overview / Bottom right - the name, phone and email address will be there.

2. Your lodgements are up to date

• Normally you have completed all lodgements or you are pretty close. So your tax software has some pretty accurate reports for you.
• You can often pull out items such as, the number of trusts, companies, partnerships, SMSFs & individuals that you have on your books.
• Expect around a 90-95% accuracy here. These reports will help you determine the COSTS of moving to Xero. 

3. Staff are excited

• Once the previous financial year is completed, staff often feel a sense of satisfaction and are eager to replicate this again, so enthusiasm and morale is high. 
• They feel like they can do anything and this is the perfect time to capitalise on that!

4. A clean start for a new year

• There is nothing worse than starting mid way through the year for a new system. So 1 July starting point is perfect to avoid these issues. 
• Set all clients up and cut off the old system and use the old system for read only access or data exporting. This reduces confusion significantly.

5. Consultants work better with cut off dates (Such as 30 June)

• Ask any consultant who is hired to enable and manage change and they will always say the best results for clients is when the client can choose a good cut off date. Accounting practice consultants only know this too well and see it every year. 30 June is the best time for accounting firms.

Summary
The main thing to remember is that you NEVER want your customers to notice a thing while you change. They should only see improvements, not problems. Only expert consultants will help you avoid these issues.

Donnie Buchanan
Xero Reporting Consultant
Entry Counts Tax, Accounting & Xero

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If you're interested in finding out more about Xero and how it could help your business, or if you're interested in finding out more about the services Donnie Buchanan offers, get in touch with us!