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BAS Management Reports

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but don't have the time or resources to do it? ... the use of powerful macros which sit behind the scenes and run automatically at the click ... – PowerPoint PPT presentation

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Title: BAS Management Reports


1
Want to offer your clients VALUE ADD with their
BAS but dont have the time or resources to do it?
Want to provide your clients with HIGH QUALITY
reports like this each BAS?
Want to have your junior staff produce them
QUICKLY AND EASILY with no fuss and minimal time
on the WIP?
2
The answer is BAS MANAGEMENT REPORTS The quick
and easy solution to your BAS reporting
requirements. There are three different report
templates one to link to your clients MYOB
file, one to link to their BankLink file and a
manual entry one for all other accounting
programs.
3
Key Features
  • The Profit Loss is summarised into meaningful,
    user-defined groups which makes it much easier
    for clients to understand. It also includes a
    variety of eye-catching graphs which are quite
    often easier than numbers for some clients to
    read and interpret. You also have a choice of two
    different report layouts (either the standard
    income less expenses layout or the cost of goods
    sold layout) depending on the nature of your
    clients business.
  • Once the setup has been done for the client it
    should only take 15 to 20 minutes (quite often
    less) to generate subsequent reports for future
    BAS periods and it can be easily done by junior
    accounting staff or support staff, thus
    minimising your costs and freeing up senior
    accounting staff. Only minimal Excel knowledge is
    required as all the bells and whistles have been
    automated.
  • There are three different templates one to
    link to your clients MYOB file, one to link to
    their BankLink file and a manual entry one for
    all other accounting programs. They are priced at
    only 595 each (plus GST). Payment for the
    templates is one-off there are no ongoing
    annual fees and you can use each template for as
    many clients as you want and install it on as
    many computers in your office as you want.
  • These templates are designed by an accountant
    for accountants. They have been written by a
    former partner of an accounting firm who is well
    aware of the various pressures that exist within
    an accounting practice as well as the demands and
    expectations of clients. As such there is a real
    emphasis on high quality output yet ease and
    simplicity of use.

4
Details
  • When GST was first introduced, many clients saw
    the BAS (and hence the accountants fee) as just
    another compliance cost. Sound familiar? The idea
    of these management reports is to overcome this
    negativity by making use of the clients
    up-to-date information to provide them with some
    meaningful, easily understood feedback on how
    their business is performing.
  • The benefits to the client are obvious in them
    being able to get access to timely results
    instead of waiting until months after the year
    end for their annual figures. In doing so, many
    clients will start taking a more active interest
    in their business financial performance
    especially when accompanied by the eye-catching,
    informative graphs. This should result in a very
    positive flow-on effect to the accounting firm
    with the client seeking more assistance and work
    from you.
  • Providing these management reports to your
    client will help cement your relationship with
    them and help you to differentiate yourself from
    your competition. Your clients will see you as
    someone offering more than just a compliance
    service and it will open the door for you to
    provide even more value added work.

5
The idea is to take these traditional reports
(which are typically too detailed for the average
client to easily understand) from MYOB, BankLink
or any other program that your client is using
and turn them into the following reports which
consists of a summarised PL and a variety of
graphs.
6
You have the option to choose either Monthly or
Quarterly as well as either Last Year or
Budget and it will automatically extract the
figures accordingly.
You have the flexibility to choose the number of
summarised income groups and expense groups you
require (between 1 and 10 of each) with powerful
macros automatically hiding the unwanted groups
at the simple click of a button.
The options you choose for this report flow
directly through to the graphs on the following
pages.
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10
  • The key to making this cost effective for the
    accounting firm is ensuring that the reports can
    be generated each month or quarter by someone on
    a lower charge rate (eg junior accounting staff
    or support staff) and that they can be generated
    quickly whilst at the same time making sure that
    errors cant occur.
  • All this is achieved through the use of powerful
    macros which sit behind the scenes and run
    automatically at the click of a button. This
    means that once the setup has been done for the
    client, the reports should be able to be
    generated each subsequent reporting period in no
    more than 15 to 20 minutes. With all the
    difficult and time consuming spreadsheeting work
    being automated it also removes the risk of
    errors being made.
  • In addition to this, the templates contain many
    data validations and error checks to eliminate
    user error. They are also locked to prevent
    changes being made. This should give a great
    degree of certainty to the client manager and
    allow them to confidently delegate the reports to
    the more junior staff thereby freeing up the
    senior staff to concentrate on more high-end work.
  • These templates are designed by an accountant
    for accountants. They have been written and used
    in practice by a former partner of an accounting
    firm who is well aware of the various pressures
    that exist within an accounting practice as well
    as the demands and expectations of clients.

11
This sounds great in theory but youre probably
wondering how it all works! The following pages
are screen shots to give you an appreciation of
how the templates come together and the ease that
it takes to use them.
12
The Home Page
Option to choose either Monthly or Quarterly
and it will automatically extract the figures
accordingly.
You can easily change dates to extract an
alternative period.
Option to choose one of two different report
layouts.
Option to use either Last Year or Budget as
the comparative period.
13
The Input Page
Click on these buttons to automate the macro to
change the number of income groups and expense
groups you require in your summarised
report (between 1 and 10 of each).
Enter the name of each income and expense group.
If you have chosen the Cost of Goods Sold
report layout, you will get another 10 groups in
addition to these to enter your cost of goods
sold expenses.
14
The Input Page
A completed example using the Income Less
Expenses report layout with 4 income groups and
7 expense groups.
15
The Detail Page
15 rows should be enough room for a particular
group, however, if it isnt simply click here to
expand it to either 35 or 70 rows (which will be
more than sufficient).
More hyperlinks to help you navigate.
These pages are the heart of the spreadsheet.
This is where each of the MYOB, BankLink or other
accounting programs chart of account codes are
mapped to their respective income, cost of goods
sold or expense group.
The figures from MYOB, BankLink or other
accounting program are automatically extracted
based on the account code range you entered.
Enter the account codes here.
16
The Custom Page
A blank page is also included to give you the
option of inserting additional, customised
reports for individual clients (eg some KPI's
specific to that client). You dont have to use
this page if you dont want to.
17
Instruction Page
A detailed instruction page has been included.
18
Technical Details
  • There are three different report templates
    available depending on the accounting software
    used by the client one to link to their MYOB
    file, one to link to their BankLink file and a
    manual entry one for all other accounting
    programs (see next slide for additional details
    about the manual entry template).
  • All three templates are just standard Excel
    files they come as xls files and are saved as
    xls files (ie the normal Excel format). They
    dont use any fancy Excel add-ins but instead
    rely on detailed macros (wholly contained within
    the file) which means that they should work from
    a standard Excel installation. There are no
    licensing issues with the templates you can use
    them for as many clients as you want and you can
    copy them onto laptops, remote office PCs, home
    computers, replacement computers etc without any
    hassles, in the same way you would with any other
    Excel file.
  • There are no direct links into the MYOB or
    BankLink databases. Instead, you generate a
    specified report within either MYOB or BankLink
    then export the report to Excel. You then copy
    this Excel report into the Excel management
    report template (via a simple copy and paste).
  • The templates can be used with all versions of
    MYOB Accounting, MYOB Accounting Plus and MYOB
    Premier. They cannot be used with MYOB Business
    Basics nor MYOB First Accounts due to their
    limited exporting capabilities. They can be used
    with all versions of BankLink. They can only be
    used with Microsoft Excel 2000 and higher. Please
    note that these spreadsheets have not been
    endorsed by and are not supported by MYOB
    Australia nor BankLink. The aforementioned
    products are registered trademarks of MYOB
    Limited www.myob.com and BankLink Pty Ltd
    respectively.

19
Manual Entry Template
  • As the name suggests, the manual entry template
    allows for manual entry from accounting software
    such as QuickBooks, APS, Solution 6, Phoenix etc
    (ie all those programs where automatic transfer
    of data is either unavailable or too
    complicated). This template works exactly the
    same as the MYOB and BankLink templates the
    only difference is manual entry of the data
    instead of automatic transfer from the accounting
    software.
  • In addition to being able to link to many
    different types of client accounting software,
    the manual entry template provides extra
    flexibility to those accounting firms that like
    to transfer their clients figures into their
    practice management software first to make
    adjustments prior to preparing the BAS.
  • As it is only the PL that needs to be manually
    input and given the typing speed of most staff
    these days (particularly the junior staff and
    support staff) it is envisaged that this manual
    entry will only add minimal extra time to the
    report generation process.

20
Price Ordering Details
  • The price is only 595 (plus GST) per template
    for each of the three different templates
    (remembering that you can use each template for
    as many clients as you want and on as many
    computers as you want).
  • There are no ongoing monthly or annual
    maintenance fees. The above price is for an
    outright purchase of the templates. The pricing
    has been designed to make them very affordable
    in fact, you should recoup the purchase price
    within the first few reports you generate for
    clients.
  • As an example, assume you charge a token 200
    per report and that it takes 20 minutes to
    prepare by someone on a 90 per hour charge rate.
    The cost to prepare it therefore is only a paltry
    30 resulting in a profit of 170 per report (or
    a considerable 567 write-on!) which means you
    recoup the purchase price of each template in
    only the first two clients. After that, youre
    well ahead.
  • Taking this example one step further, if you
    assume you prepare this report for only 50
    clients each quarter, this will generate an
    additional 40,000 income per year for only 67
    hours work (thats 600 per hour and it can be
    done by junior staff!) not to mention the value
    you are adding to the client and the ongoing
    relationship that you are building with them.
  • Email pike.stephen_at_bigpond.com for an order form
    and payment details or if you have any queries.

21
Sound too good to be true? The good news is that
not everything in your working life needs to be
difficult. Some things can be made easier. These
management reports live up to the claim of being
simple and easy to use … and you be the judge of
the quality. Many accounting firms around
Australia have already purchased them and are
reaping the benefits with their clients. What
about you?
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