How PDF Health Checks bridge the gap between tax and advisory

A person working on a laptop with a cup of tea, wearing a light beige suit, with stacks of PDF health check management reports next to them.

It’s that time again in Australia – the new tax year has begun. We’ve found an effective and well-received approach to introducing clients to advisory services is to discuss benefits of PDF Health Check reports.

Making this part of the everyday processes with clients and including it in all 2018 compliance work helps you identify who might qualify for advisory. It’s a quick and easy report to generate, giving your clients some extra value for your services. And, importantly, these reports help you start new conversations with clients away from tax.

Put client data into Futrli to run reports quickly and easily

In Futrli, select the organisation you’re working on, set the time frame and connect your forecast (you can create this just based on last year’s actuals). Once you do that, the data is automatically updated.

The client gets the benefit of seeing two years compared against one another, on a quarterly basis. They’ll see insight into the areas that are performing well (or not), rather than with the standard P&L and balance sheet. You can load this up, identify trends and, importantly, it’s not the whole P&L or balance sheet – it’s just some relevant KPIs.

You may find you need to edit the formula behind the wages, for example. It’s all about tailoring to the client’s chart of accounts. The visual appeal of Futrli is so much greater for clients, as opposed to working in spreadsheets. You’re also letting your client know you can do much more than just compliance work.

Include this in with their financial statements. It adds a lot of insight to business owners and is a nice, simple introduction to advisory work. They can, if they choose, add commentary to any of the cards, too.

The next steps

Once you’ve tried this out with a few of your clients and obtained some feedback, you’ll begin to see who else on your books would benefit from advisory work. Make this part of your everyday work.

Use the Health Check dashboard across all of your clients – all you need to do is duplicate it and bulk edit. This will apply it to the client you select. Have a look and see if there are any areas of concern with the five key KPIs.

Ask clients questions to identify pain points. Here are a few to get you started:

  • What are your plans for the year ahead?
  • Are you thinking of hiring?
  • Have you won any new jobs or contracts?
  • Have you offered any pay rises?
  • What worries you about your business?
  • Are you looking to expand or move?
  • If you secured funding what would you do with the money?

Futrli works as a platform to present to client data, help you show how they can improve, and their areas of concern. This process immediately adds value to all of your clients. Stop making assumptions and get your clients to tell you what they need.

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