Is your Accounting firm generating leads for other firms with Cloud Accounting?

We've been running Cloud Accounting quality audits with firms for over 12 months and we have seen a worrying trend...

Cloud Accounting is being implemented in a poor manner and is essentially becoming advanced bridging software for Making Tax Digital (MTD).... Having discussed this with many firms over this period, they hadn't realised the risk they have with this type of setup - they are generating leads for other firms, we call it the HOPS (Helping Other Practices Succeed) syndrome.

So what do we mean by quality? Cloud Accounting system in place with:

  1. Real-time Bank Feed (should be less of an issue with Open Banking)
  2. Invoice Automation - connected to a ReceiptBank, AutoEntry, Hubdoc, Datamolino, Lightyear, etc.
  3. Regular processing frequency - monthly as minimum.

This level of quality setup gives the accounting firm the foundation to offer their clients comparative reporting, forecasting and offer App Advisory services such as Virtual Credit Control - essentially a much more...

Continue Reading...

50% Complete

Join the Newsletter