Getting up close and personnel
Martin Parry Nigel Simmons
Practice Background Started 2009 Chartered Association of Certified Accountants Seven staff 250 clients all small or medium sized businesses Management and business experience as well as practice experience
Acconomy Current Catchphrases Proactive Accountant?? Trusted Advisor?? Create an annuity practice??
Acconomy
Old World Business Accountant
Old world attributes Once a year contact Can only report on history Limited scope for tax planning No value added Large proportion of fees error correcting Accounts software out of date
New World Accounts software Business Accountant
New world attributes Collaborative working Once a month/quarter update Error reduction & HMRC penalty regime Management reporting Tax planning Cost savings Value added
Scenario 1 Total outsourcing Business Activities Acconomy Activities Raise sales invoices Process purchase invoices Chase debtors Process expenses Submit expenses Reconcile bank Complete VAT return Produce management accounts Provide tax saving advice
Scenario 2 Review & advise Business Activities Acconomy Activities Raise sales invoices Reconcile bank Chase debtors Complete VAT return Submit expenses Produce management accounts Process purchase invoices Provide tax saving advice Process expenses
Acconomy FreeAgent Xero Xledger Increasing business complexity
How has it changed Acconomy 95% of clients adopt a Virtual Finance Department approach More profitable - less invisible reworking More tax advice and related income generation
How has it changed Acconomy Proactive Accountant Trusted Advisor Annuity Income?
How has it changed Acconomy Annuity Income? Systems Implementation and support Annuity Income
For accountancy practices and their forward thinking clients Exploit the opportunities presented by the new world
Who are we? + A company with an excellent pedigree + Default supplier to Accountancy practices in Scandinavia + Over 5300 customers worldwide + Rapidly growing and profitable + Sustainable business model
What is Xledger? A cloud-based Accounting and Financial Management System designed for growing and dynamic organisations Highly scaleable application Pay as you use - software is charged on a monthly basis
A comprehensive system Financials Cash management Reporting Project accounting Timesheets Expenses Invoicing Scanning and OCR Electronic document archive Purchasing and Stock Drill Down Workflow XRM/CRM
Big-system capabilities Integrated bank solution with automatic remittance, payments, reconciliation and account statement Sophisticated currency handling and multi-company functionality Automated business processes Business information dashboard
Run the business, not an IT company + Server hardware + Software + IT technical skills + Backups + Upgrades + Disaster recovery
What can Xledger do for you?
The old world Software version A Multiple Software versions Travel Data Client IT management Backups Upgrades Disaster recovery IT management Backups Upgrades Disaster recovery Accountancy practice Data Software version B Out of office? Travel IT management Backups Upgrades Disaster recovery Client
The old world Software version A IT management Backups Upgrades Disaster recovery Accountancy practice Multiple Software versions Travel Lots of wasted time Data Infrequent involvement Backward looking Client Data Low perceived added value Software version B IT management Backups Upgrades Disaster recovery Out of office? Travel IT management Backups Upgrades Disaster recovery Client
The new world Access from anywhere A real-time clear view of the business Payment process automation OCR Automated invoice management Accounting Head office Consultant Project Manager
Dashboard info
Dashboard info
Drill down to invoice
Analysis by area
Who contributes the most to your business
Profitability for time based projects
Profitability for non time based projects
Analysis by sector
The new world Accountancy practice Far greater time efficiency Fast response to questions Forward looking and proactive High perceived added value Faster, better, quicker, cheaper Client Out of office Client
What s in it for you? An additional revenue stream Increased billing capability with same headcount Better client retention achieve the virtual FD model Attract new clients
Annuity Income in your first year Between 200 and 3000 per month After We have partners earning 10000 plus per month
Contact Martin Parry martin.parry@xledger.com Tel 0117 3291050 Nigel Simmons nigel@acconomy.co.uk Tel 0207 2504752