- About Us
- Products & Pricing
Prepping, in accounting terms, is preparing the client’s files for End of Year Annual Accounts, and it is one of the keys to the success of our system. It’s one of the core functions of the offshore team where it can cover up to 70% of the overall task.
With Xero you have the client information at your fingertips, why not take advantage of this and start preparing for the End of Year Financials at your discretion rather than at your client’s request?
It adds up to more efficiency and less write-offs on jobs which equate to more margins on year-end work.
At Findlay & Co we used prepping on all our end-of-year financial accounts. Just after the balance date we would create a list of client jobs for the year and set the priority of when we wanted or expected that work to come in.
We would then start the year end process on those jobs with our prepping team, this included the following items:
We did an analysis of our jobs prepped, and on average, the prepping process took about 2 hours to do with the job well over 50% completed. The benefits we got as a result of prepping were enormous and completely changed our accounting firm for the better:
Initial Scoping – We look over the Xero files you want to be prepped and come back to you with a quotation
On Acceptance – We get access to the data we need and systems you use plus a priority list of clients to complete
Prepping – Prepping completed in a timely manner using our Prepping Checklist
Post Prepping Check-Up and Feedback – It is important to get regular feedback and follow up on post engagement
Minimum files per firm is 20, for larger entities that fall outside scope we can quote on a case by case basis, all prices will be in NZD and will only be available to New Zealand Accounting Firms. (Australia will be released in July). For more information see our White Paper on Prepping for Accountants.