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How to make the leap from compliance to advisory with Xero Tax and CCH iQ

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How to make the leap from compliance to advisory with Xero Tax and CCH iQ

Promoted by Wolters Kluwer.

If your firm already uses Xero Tax and wants to keep up with the tax changes Australian individuals and businesses need to know about – now is the time to integrate with CCH iQ and build that lucrative advisory practice you’ve always wanted.

Sponsored Features Wolters Kluwer 11 April 2019
— 2 minute read

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With the advances in open integration in tax and practice management software for accounting firms, there never has been a better time to make the leap from compliance to advisory.

According to Dillon Tsotsis, Regional Director of Tax and Accounting, “we understand a sizable portion of accounting firms are looking for choice. They want to be able to combine their selection of accounting software in the cloud to achieve a ‘best of breed’ solution tailored to their needs.  To help firms achieve their goals we have integrated Xero Tax to our renowned practice management and AI advisory solutions, CCH iFirm and CCH iQ.”

The integration of Xero Tax and CCH iQ allows firms to make the most of the 100+ legislative changes that take place each year – automating event alerts, judicial rulings and ATO updates, communication templates and a new streamlined and highly efficient way of advising clients whilst keeping your overheads down.

Create opportunities and grow your practice

There has never been more information and regulatory complexity for Australian accounting firms. And what’s more clients expect more from their accountant than ever before. This puts us all under pressure to improve productivity levels and client outcomes whilst delivering transformational tax and accounting services to meet these rising client demands.

If you currently find yourself missing opportunities to keep your clients up to date with the changes they need to know about because you just don’t have the time to track, locate, review and assess each change – and draft a letter to each client on how it could impact them directly, consider how Xero Tax and CCH iQ can work together to maximise your efficiency and create new business opportunities. It’s a great way to grow your practice and provide a better service for your clients.

Accelerate your business conversations

With changes in the recently released Federal Budget impacting Australian individuals and SMBs, starting a conversation about what those changes mean has never been easier.

CCH iQ has a specially built web crawling engine to automatically source stories with keywords and phrases that relate to tax changes. Every time we find a tax change that may impact your clients, we match it to your client profile and shortlist which of your clients could be potentially affected by the changes. Our practical tool kit provides letters, checklists, calculators, impact statements and more to help you contact clients and add the intelligent accounting value your clients want. Our plan is to help you better know and engage with your clients.

Six steps from compliance to advisory

Xero Tax users can now update client data in one database and synchronise this with the database in CCH iFirm, saving you time and helping keep your data accurate to best suit your business and budget needs.

  1. Subscribe to CCH iFirm based on your firm’s requirements
  2. Connect your CCH iFirm and Xero Tax accounts through CCH iFirm Integrations settings
  3. Sync your clients between CCH iFirm and Xero Tax
  4. Enable CCH iQ events through CCH iFirm Integrations settings
  5. Tax return data will be imported from Xero Tax
  6. Benefit from client matches in CCH iQ

Learn more about how Xero Tax and CCH iQ can help you keep up with the tax changes Australian individuals and businesses need to know about – and build the advisory practice your clients want. Visit https://www.cchifirm.com.au/xero/ to learn more about our free trial for Xero Tax or CCH iQ or register for our early access program.

 

How to make the leap from compliance to advisory with Xero Tax and CCH iQ
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