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Heather Smith
Chartered accountant. Cloud solutions expert. Business automation virtuoso. YouTuber. Podcaster. Author. Speaker.
Chartered accountant. Cloud solutions expert. Business automation virtuoso. YouTuber. Podcaster. Author. Speaker.
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Before asking the question, where will I find my first client, here are a few elements I suggest accountants and bookkeepers consider when thinking about who their clients will be:

What industry would you like to work in?
What type of clients give you energy, and will keep you interested and focused. Life in your accounting practice will be so much more enjoyable if you are working with clients you want to work with. Once you identify an area, I suggest you further refine it. So if you liked animals, perhaps you could focus on being a Veterinary accountant. According to the Australian Veterinary Workforce Survey 2016, there are 11,418 registered veterinarians in Australia. You only need a small portion of that market to run a thriving accounting practice.

Where will your clients be located?
Your clients don’t need to be in your local area. I’ve set up and supported a dozen businesses over the years for a client, who until recently, I’d never spoken to or met. Cloud accounting enables us to work with people across Australia and beyond. While the tax is specific to jurisdictions, accounting is an international language. Depending on what services you’re planning on offering, you may be open to working with a global client base – insurances permitting!

Read more here: https://heathersmithsmallbusiness.com/2017/12/11/will-find-first-client/
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My thoughts are if you’re a cloud accountant, bookkeeper or advisor and you’re feeling disrupted and know you need to do something but not sure exactly what – then seriously consider specialising in ecommerce. Do you like shopping – either bricks and mortar style or online with a chardonnay in hand style (or is that just me)? Thinking about it, even if you turned your focus to ecommerce, you could still narrow it down even further, niching down to gifting, toy & hobbies, electronics & Hi-Fi, the possibilities are endless. And the future ecommerce opportunities are flourishing. Do you think you could find an ecommerce niche that you would love working with?

https://heathersmithsmallbusiness.com/2017/11/07/benefits-niching-working-partner-programme/
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Are you a cloud accountant or advisor who is interested in business intelligence tools? Then join me at the Cloud Accountants and Advisors Monthly Meetup for the presentation “5 Key Global Business Intelligence Trends, and why
Xero users should care?" from Martin Kratky at Clear Jelly.

RSVP: https://www.meetup.com/Cloud-Accountants/events/244368825/

Martin Kratky CEO and Founder of Clear Jelly – will cover the following themes:

* Common Planning, Reporting and Analysis Challenges for Xero Users
* Why common approaches to this problem often fall short
* How you can solve this problem, cost effectively with next level business intelligence
* A step by step process of how to implement BI into your business
* A step by step guide in how to integrate Clear Jelly and Xero
* Q&A

What is Clear Jelly?

Clear Jelly helps small business make smarter, data-driven decisions with next level business intelligence. Clear Jelly’s pre-built data warehouse allows users to seamlessly combine cloud-based financial data with non- financial data for a 360 degree of performance. It leverages the might of Microsoft Power BI Desktop, for simple, self-service data visualisation.

For the finance users who love the familiarity of Excel but hate the risk associated with it, Clear Jelly offers something special. Finance can say goodbye to manual data export and preparation, uncontrolled user access and large, inconsistent files. With Clear Jelly Excel Add-in you build best practice planning, analytics and reporting solutions directly in native Excel. It unites all your spreadsheets and models in one powerful multidimensional in-memory database with secured access and data integration from any number of source systems.

But who’s going to put all of this together? Well, that’s where our Software Enabled Services kick in. Data skills are scarce and in high demand. In turn, they are expensive. We’re making world-class business intelligence affordable for everyone with fixed price packaged data services. With Clear Jelly software enables services, you work on the business, not in it. For Business Advisors, this is a triple win. Two additional revenue streams, without the overhead, Advisors can scale their business by reselling Clear Jelly’s software and services but best of all…you can delight your customers with stunning and intelligent dashboards and forward-looking insights you can trust.

Out of the box, Clear Jelly integrates with:

* Salesforce
* Google Analytics
* Online Weather Services (A construction company can forecast their cashflow against the weather forecast)
* Any SQL Database
* Microsoft Dynamics 365
* Excel

Bio of Presenter: Martin Kratky

After finishing his Master’s Degree in Business Administration at the University of Economics in Vienna, Martin has worked for more than 20 years in the business intelligence space.

After founding and selling the Australian branch office of MIS AG, a German provider of business intelligence solutions, in Australia in 2003 Martin focused on setting up and running multiple technology ventures that span software as a service (SaaS) businesses in the analytics and events space, as well as new IOT sensor technologies.

Currently, he is focused on the global rollout of a new breed of analytics products that combine technology and related services in the business analytics space. Clear Jelly and the Enterprise version Agility Planning, enable business users to get started with advanced data discovery, interactive dashboards as well as comprehensive planning and forecasting processes that encompass all their relevant data sources.

Who would benefit from attending?
VCFO, Management Accountants, Accountants, Bookkeepers, who want to see how emerging software for business can shape their professions and businesses.
If you have specific questions about this solution – enter them below to ensure they can be covered during the session.

Clear Jelly have kindly agreed to sponsor 🍕 and 🍺!

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As an accountant or bookkeeper in practice, it's easy to adopt cloud accounting, stay behind closed doors in the office all day, and never get out and meet people in real life. However to achieve your full potential, I recommend embracing business networking. There are numerous benefits for this including; strengthening relationships, providing inspirations, raising your profile in your local industry, opening doors, facilitating industry conversations, and enhancing your support network.

On Thursday 2nd Nov I’m involved with an event that combine networking with you’re your peers, education, and food.

It's a breakfast for those of you who are in “practice” and interested in an introduction to Receipt Bank the bills and expenses scanning solution, and other cloud tools that can help your practice grow. More information here https://www.cvent.com/c/express/218bb0df-90cb-428a-b6ad-6cc734c0218f
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Accounting has given me the flexibility to work and enjoy my kids. How has life changed now they’ve flown the coop?

For the last decade, I’ve been a virtual, soloist worker. It’s been both rewarding and flexible. I’ve attended countless musical performances, sports events and volunteered at heaps of children activities. I’ve used my brain, helped thousands of small businesses, and I’ve been a present parent.

My kids are two years apart and between the first arriving and the last starting university, it’s been a twenty-year journey. Of course, parenting never ends but the most time consuming mundane parenting activities are over. I’m finally at the other side.

Read more here: http://www.flyingsolo.com.au/working-smarter/professional-development/ideal-lifestyle-business-career-choice
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Recently I’ve been speaking with accountants moving from larger firms to launch their own accounting practice. The common concern they’ve raised with me in these conversations is – where will I find my first client?

Here are a few elements I suggest they consider when thinking about who their client will be:

What industry would you like to work in?

What type of clients give you energy, and will keep you interested and focused. Life in your accounting practice will be so much more enjoyable if you are working with clients you want to work with. Once you identify an area, I suggest you further refine it. So if you liked animals, perhaps you could focus on being a veterinary accountant. According to the Australian Veterinary Workforce Survey 2016, there are 11,418 registered veterinarians in Australia. You only need a small portion of that market to run a thriving accounting practice.

Read the rest of the article here: http://www.pubacct.org.au/blog/setting-up-shop
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Dealing with partial payments in Xero

What has happened is $ 2,000 has perhaps been deposited into the bank account. But the actual invoice in is $ 10,000. So what I need to do is apply that $ 2,000 to the $10,000 invoice and reduce that invoice into an outstanding amount of $ 8,000.

To do this, what I need to do is locate the partial payment, select the find and match option, select the matching transaction and then select the reconcile button. I'm here in Xero in the reconciliation area and on the left-hand side; I've received $ 2,000 from Jakaranda Maple Systems.

So what I would do is go and have a look at the invoice that I can apply that against. So I come over to the right-hand side here and click on find and match. Now I have the options down here to search by name, reference number or search by amount.

Now, it's pointless in searching by amount because this is a partial payment. But I could type in here, 'Jakaranda' if I needed to, and that would come out with one option there. You can see that I have an invoice for $ 10, 000. I come over to the left-hand side and select the invoice and I'm applying the $ 2,000 to the invoice.

Across here it says split; and if I click on split, the $2,000 has been applied to the $10,000. And I recognised the split has been applied by clicking the green button. And that has come up here; matching up there has been reconciled. And you'll notice down here its recognising that $ 8,000 is remaining outstanding against Jakaranda Maple System's invoice. And I'm going to come up here and click OK to reconcile and then you have it.
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