Until now reporting software for accountants has been extremely complex, expensive and disconnected from the software used by their clients. With the release of Report Packs today, accountants can now create customised report templates at a practice level and populate these with any kind of client data.
Report Packs are the holy grail of productivity improvement for accounting firms. Bringing together small businesses accounting and accountant-side reporting tools on a single ledger is great for a couple of reasons. Clients only pay for the software once and it also removes the cost of time spent transferring data.
The first cab off the rank for Report Packs is New Zealand. As you’ll appreciate introducing a completely new concept like this requires a tight feedback loop. We’re already well underway with this initiative in Australia, the UK and very soon the US.
Given that every business owner has a different Chart of Accounts, we’ve standardised these data sets using Reporting Codes.
Within the adviser tab of the client organisation, reports can be customised specifically for that client.
Which means every client can now have a customised set of reports! But the problem for the accountant is they have to customise each set of reports for each client, which isn’t a very productive use of time.
With Report Packs, accountants can define at practice level a different pack of reports to suit a specific vertical or segment of client – such as clients in hospitality for example.
The reports can also be customised to suit that vertical or segment – changing things like the layout of key reports such as the Profit & Loss, Balance Sheet, and Movements in Equity.
For accountants looking for the detail about how this works, watch this video: