ARE YOU FRUSTRATED WITH COLLECTING INFORMATION FOR INVESTOR TAX RETURNS?

I recently attended the ATSA 2017 conference in Sydney. There were some great time-saving tools for accountants on display.

I am always interested in ways to save time in an accounting practice, whether it be time saving with administration, workflows or preparation of information and reports for clients.

Have a think about all the time that you spend collecting information from investors for the preparation of their income tax returns. And even more frustrating than that is when your clients misplace information, or even worse still, just happen to find another dividend advice after you have finalised their income tax return. These problems are now resolved with a new product called myprosperity.

In the days when I was practising, I always found the preparation of investor financial information and income tax returns to be very time consuming. Do you have the same issue with the preparation of these returns?

If you find yourself spending too much time gathering information for the preparation of investor income tax returns, myprosperity has the solution!! Instead of chasing information you will be receiving information. And how much time will that save you?

myprosperity captures information for investors via live feeds. This means that the investor has live, accurate and up-to-date information on all of their investment information. And for you, the accountant, that is a big time-saver in the preparation of income tax returns and other reporting for your investor clients. It follows in the footsteps of cloud-based accounting. Think of the time that you have saved in your accounting practice by the adoption and implementation of cloud-based accounting software. Now think about how much time you could save if investor information could be collected with the same methodology.

They also have a bookkeeper program where bookkeepers can get certified to help you roll out myprosperity across your client base. To get certified, bookkeepers have to complete an online training session; they are then added to a directory on the myprosperity website. It’s a simple and convenient way to leverage bookkeepers’ expertise to make the whole process easier.

Chris Ridd is the CEO of myprosperity. Chris was the managing director for Xero for a number of years. During his tenure as managing director at Xero he was responsible for saving thousands of hours for accountants across Australia and New Zealand. With myprosperity he is continuing with his legacy to help accountants to save time, increase productivity and improving efficiency and profits.

Click here to find out more about how you can prepare investor income tax returns in a fraction of the time it would normally take.