Xero, an easy-to-use accounting software package, boasts some 1.2 million users worldwide. Created in New Zealand, the cloud-based program has grown to dominate the accounting software market in Australia, New Zealand, and the U.K. Xero allows accountants and bookkeepers to link up with their clients online, giving up-to-date access to a client’s numbers. Pairing the program with accounting outsourcing professionals gives accounting firms a powerful system to service far more clients in far less time.
BOSS’ (Back Office Shared Services) overseas accountants and bookkeepers are already certified for all Australian and New Zealand accounting procedures. With the introduction of Xero, they now pursue a six-week induction program plus ongoing training that will allow them to interact with accountants or directly with individuals or businesses via Xero.
The virtual accountants can now take over a wide variety of accounting and bookkeeping tasks, freeing up immense amounts of time for their clients. Tasks covered by Xero include:
- Accounting firms can set up and manage their practice through the software
- Accepting contributions and rollovers
- Code and reconcile cash transactions utilizing bank rules, cash coding, and bank feeds
- Deductible expenses
- Deducting prior years losses
- Franking credit
- Manage expenditures and accounts payable through expense claims, purchase orders, and bills
- Manage sales and receivables with quotes and invoices
- Personal service income
- Run, customize, and share basic reports
- SBE concessions
- SBE pooling and UCA
- Streamline daily work processes through automation tools
- Superannuation reconciliation
Lee Court, BOSS’ Client Relationship and Marketing Manager, lays out BOSS’ plan: “The whole reason BOSS exists is to help accountants, businesses, and individual clients achieve their financial goals. For accounting firms, pairing Xero with accounting outsourcing professionals is a no-brainer.
The accounting itself becomes immensely easier for the firm, and all the number-crunching is handed over to a virtual accountant to handle at a fraction of the cost of hiring in-house staff members. The accountant provides much more information for each individual client to work with while at the same time offering the accountant more time to work on expanding his or her firm. And business owners and individuals get a simplified method to get their accounting done.”
About BOSS, BACK OFFICE SHARED SERVICES PTY LTD
BOSS (Back Office Shared Services Pty Ltd) was founded in 2004 to provide skilled accountants and bookkeepers on a full-time, part-time and casual basis to commercial enterprises, accounting and financial services firms in Australia.
BOSS India is a subsidiary of BOSS Australia and runs just like an ultra-modern paperless Australian public practice because the Director and Accountancy Practice Principal, Peter Vickers, has been operating his own successful Australian public practice for over twenty years.
