It's widely recognised Xero is a top choice among accounting software for businesses. It’s also no secret that errors in Xero are easy to make and can prove costly. What often surprises users is the magnitude of these costs. Typically, such errors remain undetected until year-end, when your friendly Lion Accountant is trying to prepare your annual accounts. By then, the only option is to invest considerable time pinpointing the issues, often delaying the completion of the accounts and adding additional costs
A CLIENTS EXPERIENCE
At Greenlion, we encounter frequent errors and oversights with Xero. In a move to be proactive, we've engaged ClockworX. They recently assisted a client of ours who had made several mistakes in Xero. These inaccuracies led to inaccurate financial statements. ClockworX conducted a Xero Health Check, assessing the accuracy of the business’ data. The findings revealed only a 24% correct application of Xero, highlighting numerous errors, missing documents, and coding discrepancies. ClockworX then guided the business in rectifying these issues. A subsequent Health Check a month later showed a perfect score—100% accuracy!
EXCLUSIVE OFFER FOR GREENLION CLIENTS
Naturally, when such a great result was achieved for one client, we wanted all our clients to have access to ClockworX Xero Health Check. Angela Fisher, director of ClockworX, has kindly agreed to offer a complimentary check for 10 Greenlion clients. This is a generous offer, valued at $750 per Health Check. Angela says she’s helping business owners succeed and thrive in today’s environment by providing this service. She regularly sees small Xero errors culminating into big consequences. Financial data is after all the backbone of a business. This is what led Angela to offering the ClockworX Xero Health Check.
BENEFITS CLIENTS RECEIVE
We asked Angela how a ClockworX Xero Health Check operates and what are its benefits. She told us the Health Check program employs advanced algorithms and machine learning to detect coding inconsistencies, duplicate transactions, and anomalies. It evaluates the data in Xero and assigns a health score out of 100%. This score gives a clear, objective view of a business’ bookkeeping and identifies areas for improvement. These are not the only benefits a Xero Health Check provides.
The ClockworX Xero Health Check acts as a risk mitigation and fraud detection tool, flagging potential risks such as suppliers with different bank account numbers. It also analyses large volumes of transactions, such as invoices, bills, and bank transactions to determine whether the transactions are being processed efficiently by the bookkeeper.
Finally, staying on top of IRD compliance is easy when a Health Check is completed. That’s because a report is provided on transactions that have source documents missing. This avoids countless hours of trawling through paperwork to find supporting documentation long after the transactions have occurred. It may also avoid the imposition of IRD penalties should an audit be conducted and record irregularities are found.
Ultimately, the ClockworX Xero Health Check ensures greater accuracy, compliance and efficiency, giving the business owner peace of mind and confidence in their data. It usually results in an improvement in a business’s data keeping, reducing expenses and improving operation efficiency. Given these benefits, any business owner would be remiss not to book a ClockworX Xero Health Check.
FIRST COME FIRST SERVED
If you think your business would benefit from the ClockworX generous offer, contact ClockworXs directly by emailing angela@clockworx.nz. Their help could save you lots of time and ultimately money.
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