We last caught up with Advise Accountants director Matt Sharwood in 2018, when he and his team were using AccountKit to manage everything from fuel tax credit calculations and ASIC compliance to inter-entity loan reconciliations and correspondence registers.
Since then, Advise Accountants has gone from strength to strength – in big part thanks to the help of AccountKit.
“We’re now doing a lot more advisory work and a lot more bookkeeping,” Matt says. “Those are probably the two areas in which the business has grown the most.”
“We’ve been with AccountKit for a hell of a long time now and we’re still using pretty much all the tools. For us it’s really about automating a lot of transactions in the Xero files. It’s just a blessing. Over the years I’ve referred AccountKit to heaps of accounting firms. I say it automates, saves a lot of time and keeps good records. Those are all critical things.”
Today, Matt and the team still use their old AccountKit favourites, plus some new additions.
“As a team, we often use the Fuel Tax Credit Calculator and the Inter-Entity Loan Reconciliation Tool. My favourite feature is still the Equipment Finance Tool for hire purchase arrangements. All the data posts automatically so I know it’s up to date.”
“But the Client Map Tool is the big new thing for us. It’s so useful to explain the structures to our clients and the team internally. We look after some very big groups that have lots of companies and trusts. It’s good to have a visual view of what owns what, shareholding and that sort of thing. It definitely adds value to our clients.”
The team also achieves end-to-end efficiency and visibility through integrations with Xero Practice Manager and NowInfinity, and plan to integrate with FYI, which they’ve recently switched to, in the coming months.
Onward and upward
Matt says AccountKit’s time-saving tools have played an important part in propelling Advise Accountants forward and allowing the team to spend more valuable time with clients.
“AccountKit has had a huge impact on our efficiency. Our goal was to have live data at all times and it’s helped us achieve that. Especially when it comes to CFA-type work, we know all the data is there and updated automatically. It saves so much time.”
“Our overall goal has always been to spend less time doing ‘accounting’ and spend more time talking to our clients. The more that we can automate behind the scenes with AccountKit, the better the client experience we can provide.”
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