WHAT IS OUTSOURCED ACCOUNTING?
Outsourced Accounting is a system where businesses engage the services of professional accountants to undertake the functions of a traditional accounts department. In the case of Hopscotch Accounting, we use cloud technology and automated systems to provide efficiencies that improve organisational operations and outcomes.
WHAT IS THE BEST CLOUD ACCOUNTING TECHNOLOGY FOR MY BUSINESS?
Hopscotch Accounting are Xero Gold Partners. That means we get ongoing training and support from one Cloud Accounting’s leading platforms. All staff actively stay across accounting technology developments and we can recommend the best platforms for our not for profit and business clients.
HOW DO I STAY ON TOP OF COMPLIANCE REQUIREMENTS?
The benefit of working with the Hopscotch Accounting team is that we stay on top of these compliance requirements for you. We regularly meet with our clients and can also provide advice to NFP boards related to accounting compliance requirements.
WHAT’S THE PROCESS FOR CLIENT MEETINGS?
We arrange at least 3 or 4 face-to-face client meetings per year, with at least one of these meetings for annual planning purposes. Additional monthly meetings are held using Zoom, conveniently enabling us to share screens with our clients. We can also attend monthly Board meetings if required with arrangements detailed in individual client agreements.
HOW DOES HOPSCOTCH HELP CLIENTS INTERPRET REPORTS THAT TELL THEM THE STORY BEHIND THE NUMBERS?
We provide analysis of management reports through graphs, KPIs and analysis of results versus budget. We also schedule a monthly meeting where we discuss the numbers with clients. Typically, this would be one to two business days after clients have received the month-end report pack.
WHAT IS DIFFERENT ABOUT THE HOPSCOTCH ACCOUNTING TEAM?
We are a Chartered Accounting firm and both owners are registered Tax Agents, which is a higher qualification than a BAS agent.
We have ten professional staff with six chartered accountants, one studying CA, one studying an undergraduate accounting degree and two experienced bookkeepers who have 20+ years’ experience between them. All members of our team are able to assist clients, ensuring consistency of service.
HOW DOES HOPSCOTCH UNDERSTAND THE NFP SECTOR, INCLUDING CHARITABLE STATUS REQUIREMENTS?
We have been working in the NFP sector for several years, with a growing number of clients across different industries. We have significant experience in the preparation of acquittal reports for external agencies including state and federal bodies, as well as state and federal regulators like Fair Trading and the ACNC.
HOW DOES THE HOPSCOTCH TEAM STAY UP TO DATE WITH CHANGES IN XERO?
Our team are all Xero-certified advisors, and regularly attend Xero online training. All staff attend either Xerocon, Xero Refresh or Xero Roadshow throughout the year. We regularly share our understanding of Xero and collaborate in our weekly team meetings.
HOW DOES THE HOPSCOTCH TEAM ADD VALUE TO OUR CLIENTS?
We focus on streamlining and automating current processes, particularly the invoicing process, making it more efficient. We are always up to date with the latest technologies and Xero add-ons in the marketplace. We currently work with clients to assist with their budget and forecasting. We also provide a detailed analysis of the management reports through graphs and budget variances.
WHAT KIND OF ADMIN TRAINING DOES HOPSCOTCH PROVIDE TO CLIENTS?
Training modules are tailored to specific areas of the system we are implementing, such as:
- Training the administration team on processes for reporting to our office
- Training the administration team on the basic timesheet and rostering system
- Training in Xero systems and add-ons.
Clients learning new systems can access training videos by Xero and receive office support.
HOW CAN HOPSCOTCH HELP WITH TRANSITION MANAGEMENT?
We work with client organisations to delineate staff roles and the documents that may be under their control. Our groundwork ensures that staff redundancies are handled smoothly and transparently. We make sure there will be no issue with personnel changeover and that systems continue to work.
WHAT ARE SOME OF THE KEY AREAS FOR NFPs TO WORK ON?
Hopscotch understands the complexities of NFP accounting, and provides assistance and support in key areas such as:
- Calculating Fringe Benefits Tax (FBT) and salary packaging arrangements
- Managing credit card reconciliations
- Producing reports/acquittals for tenders and grants.