Increase the value of your practice through outsourcing. Now that accountants were given limited financial adviser’s license, you see the need to focus your time and energy on this higher value services.
If you will outsource your SMSF accounting tasks, you can retain your existing SMSF clients while developing your advising capabilities. Minus the cost of specialist skills in the office, you will be able to deliver high quality accounting services at 60% of your usual cost in Australia. As you can continue to charge your standard SMSF fees to your clients, profitability and value of your practice will improve. You can even choose to maintain your role as the fund’s independent auditor.
With Infinit Accounting’s outsourcing solutions, you can grow your practice confident that you have the capacity to service your clients. Also, you will be ahead in meeting the increasing client demand for online access to their SMSF data.
Daily/Weekly Transaction Processing
This solution is applicable to clients you are servicing using cloud based SMSF software and data feeds from banks and stock brokers are available.
Our staff will get into your client’s account daily to process all transactions a day or a week before. Thereafter, procedures are performed in the system to ensure the fund’s dashboard show updated information about the fund. Transactions requiring documents or other information prior to processing will be posted under suspense account.
You take care of quarterly and annual tax returns, financial reports and working papers.
Annual Transaction Processing
For clients in the cloud based software – our accountants will process all transactions during the financial year and will post queries and request for source documents only when necessary.
For clients NOT in the cloud based software – we will require that you submit to us transaction documents for the year as specified in our annual processing checklist.
You may choose to finalize the accounts and prepare the tax returns for the year.