If you’re a New Zealand accountant you can start preparing your 2013 tax returns today, because we have again released the new year tax return forms on the first day of the financial year. This past weekend we rolled out all 2013 tax return forms ready for e-file. With close to 300 New Zealand accounting practices using the Practice Manager (WorkflowMax) Tax management solution we are getting an even deeper insight into the efficiencies that Xero and the cloud can bring.
The single ledger has revolutionised the accounting practice, in this specific instance around the completion of the year-end process. Throughout the year accountants can access and adjust client ledger data, resulting in a cleaner, less time consuming, year-end finalisation process.
Having the data in the cloud for accountants and clients to share is just one part of the value proposition. Just as we saw last week with the latest release of Xero, as a cloud software vendor we are able to move nimbly, and release quickly. How many installed based tax management solutions allow NZ accounting firms to begin preparing and filing 2013 tax returns on the first day of the new financial year, without having to do anything other than logging in?
From here, this year the primary focus of the WorkflowMax team is to bring the current user interface into alignment with Xero. It needs to look and feel like Xero so that the user experience is almost identical. This is the first step towards combining My Xero for partners with Practice Manager, Tax and Workpapers into a single integrated “Practice Studio” solution.
Having each of the different component products even more tightly integrated than they already are, sharing the same interface and same database of client data drives even further efficiency gains to the accounting practice. The end result – cost of compliance is again reduced and accounting firms can focus on providing further value to client businesses.
You can see the 2013 forms in action at our Introducing WFM Practice Management/Tax webinars.