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Xero Tax in action with Synergy Bookkeeping

Posted 4 years ago in Bookkeepers by
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The bookkeeping industry demands innovation. It’s a fun and dynamic time to be involved in a highly disruptive business field. We love it.

Synergy Bookkeeping began in 1998. This was when the cloud was still a meteorological event, and before bookkeeping became sexy and hip. We used Excel spreadsheets to track our compliance records, and filed everything in cabinets. In 2012 we made the leap from desktop versions to the cloud with Xero. Our practice has now doubled in size in both revenue and staff numbers.

I’d like to put it all down to our excellent management skills, but that’s not the case. The truth is, we’ve introduced and continue to bring in excellent systems and employ skilled staff to follow those systems.

“One size fits all” is yesterday’s thinking

Here at Synergy we embrace an array of software. We need to provide the best solution for each client’s differing requirements. One size fits all is yesterday’s thinking. Being able to choose from a wide range of core products and the best fit “add ons” is a minimum requirement for our clients today.

We were given access to Xero Practice Manager in 2013. At the time, we were still holding onto our old Excel-based recording of BAS lodgements – due dates and all things compliance. It wasn’t that we didn’t trust Xero Practice Manager. We just treated it like a time-tracking and invoicing tool, not aware then of how much more it could be.

It’s a whole new world with Xero Practice Manager

Fast-forward three years and we’re in a whole new world. We’ve replaced Our old manual folders, with elastic bands and dog-ears, full of signed and lodged BASs and printed copies of emails. Now we have electronic storage within the client job on Xero Practice Manager using Xero Tax. Job and client associated correspondence is scanned or forwarded to the job as well. Times are recorded by all staff – sometimes from the convenience of their own home. Wages are paid, client invoicing is done, and with our regular WIP reviews we can take up the expected value of unbilled work each period to give us more realistic profit and loss reporting.

Before using the Xero Practice Manager, we would lose who knows how many billable hours by not recording times efficiently (or at all). On many occasions, at the end of a week we would try and recall what we worked on the previous Monday. Since adopting Xero Practice Manager, we’ve never looked back. It’s become an integral part of our operating systems. Without it, we wouldn’t have the continued growth or financial outcomes we see now.

Our office is paperless

Well, we still handle paper. But we don’t store it in boxes anymore. Not it’s scanned and uploaded to the client’s job. It’s clean, tidy and easily available if and when required.

A great addition to Xero Practice Manager is the Xero Tax product with a new and beautiful BAS form that also enables clients to e-sign their BAS returns!

Do you think eSign will help you with your BAS returns?

Find out more about eSign

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