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Welcome to the May edition of the Cloudoffis bulletin

It’s an exceptionally busy time for the SMSF industry, especially our Auditors who have been working overtime to hit deadlines. We’d like to share our gratitude to all the SMSF Auditors out there that are working tirelessly to keep our industry, SMSF Accountants and Trustees, safe and compliant.

This month, we’re proud to feature a new tip sheet to help you rethink your practice management as you head into the new financial year. The feedback from across our network has demonstrated that there is a strong need for improved operational excellence to help with growth and compliance. Based on these conversations, we’ve compiled three proven trategies to help you enhance your practice management in 2024. Take a read below.

We’re also sharing some short videos that our team has been working, providing you with a new way to consume the Cloudoffis product updates for Auditors and Accountants alike. Grab a coffee and jump on in

Industry trends

Rethink your Practice Management: 3 proven strategies

Are you an auditor looking for ways you can rethink your practice management to help you stand out from the competition without resorting to price reductions?

The answer lies in delivering exceptional customer service as your point of difference, ensuring customer satisfaction and generating referrals from their network.

Download the guide


Maintain your brand integrity with secure data sharing and storage

If safeguarding your brand reputation and securing your clients’ data is a top priority, we invite you to review our updated Data Security Policy.

Our platform not only ensures secure data storage but also features robust access controls to protect you, your staff, and your clients. With administrator-defined access levels in Cloudoffis, your team members can only access the information necessary for their roles, ensuring maximum security and efficiency.

Product update

Say yes to manual files and start auditing straight away

In an industry first for our Auditing community, Cloudoffis has delivered an easy way for you to receive manual files such as PDF, excel or CSV from your clients.

With our manual uploads feature, we turn your manual files into structured data that’s ready to audit immediately, so you can say goodbye to intricate, error-prone ways of working and hello to new revenue and happy clients.

Watch this 2 minute video to learn more about this much loved feature that can help you increase your revenue.




Import and export documents securely between SMSF Sorted and FYI

Document management is a time-consuming, yet important task to get right, which is why we are thrilled to introduce our integration between SMSF Sorted and FYI.

With just the click of a button, you can access and import all your documents stored in FYI from your SMSF Sorted account and once your workpapers are generated, you can effortlessly save them back into your preferred cabinet in FYI, all without leaving SMSF Sorted.

If you’re an accountant looking to boost productivity, watch this 1 minute video to see how you can securely transfer documents between Cloudoffis and FYI Docs so you never have to go searching for paperwork again.

Automate, submit and track your audit jobs with ease

Keen to see how the new and improved Class x Sorted Lite integration works? Watch this short video to see how you can automate your workpapers, submit workpapers in just one click and track your audit jobs.

Experience more of the new Cloudoffis

More than 55,000 funds have been processed on Cloudoffis in FY23. If you think there’s room for you to optimise your practice, enhance operational efficiency, or elevate customer experiences this year, now may be an opportune time for us to connect.

Book a time to chat that suits you.

 

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The Cloudoffis Bulletin April Edition

Welcome to the April edition of the Cloudoffis Bulletin. We hope that you have had a profitable month, despite the multiple public and school holidays that crop up at this time of year.

 

We’re moving into the busy season for Auditors so we’ve kept this April’s edition short and sharp but jam packed with important updates for both accountants and auditors.

 

Enjoy this month’s issue.

Current trends

At Cloudoffis, we are on a mission to educate our SMSF community about ways to drive operational efficiency in their business.

Did you know, the top three* operational challenges faced by the industry today are:

  • Managing manual processes
  • Dealing with client information stored in multiple places, and
  • Managing multiple systems

Download our guide to help you achieve operational excellence in your practice.

We’ll cover:

  • How operational excellence leads to incredible customer service and happy customers
  • The challenges other SMSF industry leaders face in achieving operational excellence
  • Three proven strategies to improve the operations in your practice

Download

*Cloudoffis Operational Excellence research, 2024

Product update

If you’re an SMSF Accountant, it’s time to shift towards running your practice entirely in the cloud.

 

Last month we updated you on the amazing new experience that Cloudoffis is delivering for Class customers, free of charge.

 

Did you know we also integrate with more of the industries favourite software including FYI Docs, Microsoft Office and of course BGL and SuperMate?

Visit our website for more information about our integrations for accountants and auditors.

Explore

Run your entire Auditing practice with Cloudoffis

 

SMSF Auditomation by Cloudoffis is uniquely designed for Australian SMSF Auditors to help make your day-to-day operations a breeze from within one intuitive platform.

 

Every day, our customers rely on Cloudoffis for all their practice management needs from streamlining operations, real-time reporting, accelerating cash flow and securing their customer data.

 

Whether you’re new to Cloudoffis or a long standing client, find out how Cloudoffis can take care of your business operations, all from within one easy-to-use platform.

Visit our website

 

SMSF Sorted Pro – New ‘Signed Off’ feature

 

We’ve added a new “Signed Off” feature to Sorted Pro’s workflow, making it easier to track who has approved financials.

 

At the approval stage simply click the “Signed Off” checkbox to create an audit trail in the Statement of Financial Position and Operating Statement. These details can also be viewed when downloading the Sorted Work Paper file or you can monitor the sign-offs directly from the dashboard.

Find out more

 

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The Cloudoffis Bulletin - March Edition

Welcome to the March edition of the Cloudoffis Bulletin, with so much happening at Cloudoffis and across the industry, it’s a jam-packed issue.

Last month we attended the SMSF Association’s National Conference, Level Up. It was great to reconnect with our peers and feel the buzz of the industry up in Brisbane. A huge thanks to so many of our customers who came and said hi and had a chat about industry trends.

You may have noticed a few changes around Cloudoffis recently, with new team members joining, a refreshed brand, a new website and constant updates to the product. We’ve covered it all below.

Current trends

Introducing the growing Cloudoffis team

We’d like to give a warm welcome to Kresant Mahilall, Head of Sales, and Dilnar Tangri, our new Senior Customer Success Manager, who have recently joined the Cloudoffis team.

We asked them to share some of their highlights since joining Cloudoffis plus trends they’re witnessing from their conversations with Accountants and Auditors.






The SMSF Association National Conference

It was great getting out to connect with industry peers at the recent SMSF Association National Conference, Level Up, in Brisbane. From our ongoing conversations, several common challenges continue to emerge industry-wide, including the imperative to streamline processes for improved ROI and heightened concerns surrounding compliance and customer data security.

With the Cloudoffis platform constantly evolving, perhaps it’s time to ensure your team and clients are getting the most out of your subscription. Be sure to book time with our Customer Success team, Jocelyn and Dilnar.

In just 30 minutes these amazing ladies can give you tips on how to get the most out of Cloudoffis, which will translate into hours of time saved each week, happier employees and a better ROI.

Book a consultation

The SMSF Auditors Day

This took place on Friday, 22nd March in Sydney. Kresant took the stage to highlight how Cloudoffis drives the industry forward by delivering Operational Excellence. Drawing from invaluable feedback on the daily challenges faced by auditors and accountants, the presentation showcased how Cloudoffis provides tailored solutions to foster better insights, enhance team capabilities and promote stronger collaboration.

Product update

Cloudoffis is leading the way to drive collaboration

The Cloudoffis products SMSF Sorted and SMSF Auditomation connects the processes of SMSF Accountants and Auditors like no other tools in the industry. Here’s how it works:

  • Accountants submit workpapers from Sorted to Auditomation with one click
  • The workpapers, docs and data are automatically organised for the auditor upon delivery, helping speed up preparation time
  • Accountants and auditors collaborate on queries & track job statuses securely within the Cloudoffis platform
  • Audited funds are securely stored in the SMSF Auditomation and SMSF Sorted platform and can be shared back to your favourite apps such as FYI Docs, Class and BGL 360.

Explore

Manual Audits

In an industry first for our Auditing community, we have simplified the process of manual fund uploads, helping auditors to seamlessly upload manual funds into the SMSF Auditomation platform.

With over 25% of funds still being processed manually, we recognised the urgent need for change to help our Auditing customers to service this segment of the market.

Say goodbye to intricate, error-prone procedures and hello to new revenue and happy clients.

Find out more


Great news for Class Customers

We’re excited to announce that the enhanced Class Workpapers powered by Cloudoffis is now live for Class SMSF Accountants. The introduction of over 10 new features and enhancements to Cloudoffis Sorted Lite further streamlines the management of your client SMSF's on Class.

What's New:

  • Simplified Activation Process: No more lengthy forms. Simply log into your Class account, navigate to 'Settings' and then 'Integration' and activate Cloudoffis Sorted Lite.
  • Single Centralised Platform: Manage everything from one place. Prepare workpapers, audit, manage queries and collaborate with auditors seamlessly from the Cloudoffis portal connected to Class.
  • Audit Console Page: Track the progress of workpapers and audit submissions with the new Audit Console page. Gain insights into queries with your auditor.
  • Integration with Class DMS: Load documents directly from Class DMS to Sorted Lite and save final workpaper files back to Class DMS. Maintain document tags between Cloudoffis and Class effortlessly.
  • Working with Multiple Auditors: Connect with multiple auditors and submit funds to them hassle-free.
  • Sorted Lite Dashboard Options: Enjoy new options on the Cloudoffis Sorted Lite dashboard, including viewing documents, status in audit and queries and updating the latest financial data.
  • Easy Switching Between Different Businesses: Switch between different businesses in Class effortlessly, simplifying fund management for multi-business firms.

For a more information, check out the Class Help Doc. For a detailed walkthrough, check out our Demo Video.

New Feature: Historical records captured

Many of our customers turn to us for support with their compliance needs. That’s why this month we’re thrilled to announce this new feature for auditors that will simplify the way your team works.

Now, auditors using SMSF Auditomation will have a historical record of when and who prepared, reviewed, audited or approved paperwork at each stage of the process.

We’ll also ensure your organisation is well-prepared in the event of an ATO audit by helping you maintain digital records of your team’s work, conveniently accessible in one easy-to-navigate location.

Find out more

Update: Organised Documents enhancement in SMSF Sorted Pro

Every little detail is important to us to help you claw time back in your day, that’s why we have enhanced the way you classify your documents in the new organised documents screen.

Now, all unclassified documents will be available in the organised documents screen, ready for bookmarking, without having to leave the screen you’re on. Once you have organised the document, you can roll it forward from the document workflow. The classification of documents can be sorted quickly and bookmarked in multiple file locations as necessary.

Cloudoffis, reimagined

Have you noticed things are a little different at Cloudoffis? We’ve recently unveiled our reinvigorated brand at events and launched our updated website. Whether you’re looking for more information on how SMSF Auditomation or SMSF Sorted work, who we integrate with or you’re looking for to stay updated on industry events and Cloudoffis product developments, our new website is here to support.

Go to homepage




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Introducing the
growing Cloudoffis team

We’d like to give a warm welcome to two team members who have recently joined the Cloudoffis team.

Kresant is the Head of Sales and is responsible for helping new businesses understand how Cloudoffis can solve their vision for simplification, growth and compliance.

Dilnar is a Senior Manager responsible for our Customers Success and ensures our new and lifelong customers are getting the most from their Cloudoffis experience every day, introducing new features or providing helpful hints and tricks to save your team time.

If you think there’s room to optimise your practice, enhance operational efficiency, or elevate customer experiences this year, now may be an opportune time to connect with Kresant or Dilnar.

Highlights since joining Cloudoffis

We asked both Kresant and Dilnar to share some highlights since joining the team:

Kresant Mahilall,
Head of Sales,

Book a demo with Kresant

“Since joining Cloudoffis, I’ve had the privilege of engaging with some of Australia’s leading SMSF Auditors and Accountants to understand some of the challenges the industry is facing.In my discussions, several common challenges have emerged industry-wide, including:

  • The need to streamline processes for improved ROI
  • Heightened concerns surrounding compliance and customer data security
  • The burning need for off the shelf cloud technology solutions

Many businesses have revisited Cloudoffis and have been pleasantly surprised by the significant advancements we have made within our platform to address these challenges which gets me excited about the number of new businesses we can help in 2024”.

Dilnar Tangri,
Senior Customer Success Manager

Book a consultation with Dilnar

“Spending time reconnecting with many friends and colleagues in the industry has been a highlight for me, coupled with the opportunity to get a better understanding of the burning need that many of them have for a platform that is as advanced as Cloudoffis. The fact that we solve day to day problems for both Accountants and Auditors was an important factor for me joining the team and I’m proud of the solutions we’re delivering for the industry”.

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The Cloudoffis Bulletin - February Edition

Welcome to 2024!  We hope the year has started well for you and your team.

This marks our first newsletter of the year, and we’re looking forward to sharing monthly updates on industry trends, new product features, and upcoming events for us to connect at.

If you’re attending the SMSF Association’s National Event in Brisbane later this month, don’t forget to come and say hi at our booth. Our team will be there to assist with your SMSF Accounting and Auditing needs. You’ll find more information on how to find us below.

 

Current Trends:

Compliance

At Cloudoffis, we’re noticing a growing trend of industry leaders reaching out to discuss their compliance requirements. This observation comes as no surprise, especially with ASIC recently taking action against 9 more SMSF Auditors for non-compliance.

Across the industry, there’s a growing demand for a structured approach to managing day-to-day tasks, coupled with a desire for peace of mind that compliance processes are up-to-date. Businesses are increasingly seeking solutions that not only support them in running their processes but maintaining historical records whilst also ensuring readiness for potential audits by ASIC or the ATO to guarantee uninterrupted business operations.

If you’re seeking ways to safeguard your business and bolster your team’s reputation, we encourage you to get in touch with us today for a conversation.

Whether you’re already leveraging Cloudoffis and aiming to maximise your experience or exploring our platform for the first time, we’re here to assist with your compliance needs.

Get in touch

 

Product update:

Data security

At Cloudoffis, data security is paramount in all aspects of our operations. We recognise the critical importance of safeguarding both your data and that of your customers to uphold your reputation.

To highlight our commitment to this topic, we have recently published our data security measures. We trust the attached document will provide clarity on our unwavering commitment to protecting your valuable information.

Read in detail

 

Unlock operational excellence

Looking for a way to improve your businesses profitability this year? Our team of experts have shared their 3 hot tips to help you improve operational excellence across your team in 2024.

Get your tips

 

Upcoming events:

SMSF Association

The countdown is on! Not long now until we hit Brisbane for the SMSF Association’s National Conference.

We will have both our customer success and sales team attending, so put us on your radar to come and say hi on Day 1 at Booth No. 42!

 

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5 trends that piqued our interest in 2023 and our forecast for 2024

Recapping 2023

A year in review

It’s been a dynamic year for the SMSF Audit industry, and as we enter the festive season, at Cloudoffis we’ve been reflecting on the pivotal trends that have shaped the landscape throughout 2023.

Read on to see 5 trends that piqued our interest this year and our forecast for what 2024 will bring the industry.

Pricing is no longer a point of difference

Across the industry, auditors are grappling with an increasing challenge to distinguish their value proposition amidst stiff competition. Earlier in the year, we saw this lead to a heightened focus on price as the primary differentiator. However, the reliance on discounting posed a risk to profit margins, and we’ve since seen a strong trend in audit businesses approaching us who are conducting a reassessment of their current operational models to maintain their competitive edge. Leading businesses are differentiating themselves by offering more valuable services to their clients, such as easier ways to collaborate, better insights and faster turnaround times.

Technology Supporting Profitability

The industry has experienced a reduction in the number of auditors compared to 2022, influenced by natural attrition, ASIC’s stringent measures, and the impact of inflation and rising wage costs. Navigating these challenges has made it a demanding year for auditors seeking to maintain a profitable practice. These macro impacts have led to a spike in the number of auditors and accountants who are embracing forward-thinking strategies such as adopting technology to sustain profitability.

Data security

In 2023, Australians grappled with a surge in data breaches, impacting individuals and businesses nationwide. The consequences of data breaches on brand trustworthiness have been significant, leading to a rise in digital mistrust. Incidents from large institutions have prompted businesses to question the usage and protection of their clients’ data and we’re seeing a trend across the SMSF industry to pay more attention to how clients data is stored, shared and what level of access individuals within an auditing firm have to client information.

A Spotlight on Compliance

ASIC’s crackdown on compliance has reverberated through the industry, particularly after a period of no SMSF audits during the COVID-19 pandemic. Notably, ASIC cancelled 364 SMSF auditors licences in January for failure to lodge annual statements. Recent actions against firms for breaches of auditing standards, independence requirements, and registration conditions underscore the intensified regulatory scrutiny in turn, leading auditors are turning to technology for compliance support. We’re noticing an increase in the need for businesses to have a digital record at their fingertips to enable them to react quickly to audit requests and tighter ATO deadlines linked to SMSF processes.

Accountants Seeking Growth Partners

A noteworthy trend is the emergence of accountants adopting a growth mindset, actively seeking ways to expand capacity to meet increasing client demands. Given the accounting industry’s cloud-first orientation, many accountants are on the lookout for partners aligning with their current cloud-based processes and practices. We’re witnessing a shift towards stronger collaboration through technology between like-minded accountants and auditors to service the industry more effectively.

Outlook for 2024

As we approach 2024, auditors face an unprecedented requirement to safeguard their businesses against compliance risks and streamline operational processes for enhanced efficiency.

The evolving landscape demands a proactive approach to stay resilient in the face of challenges and capitalise on emerging opportunities. Luckily, with the advancement of technology aligned to a constantly changing environment, SMSF auditors who adopt technology and prioritise operational efficiencies across their workflows will be supported to deliver more audits faster, with more confidence, than ever before.

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Simplify manual data uploads and say yes to more clients.

At Cloudoffis, we make it our mission to help Auditors scale, reduce risk and help improve their own customers’ success. That’s why we invested in simplifying the process of manual fund uploads, an industry first, which allows auditors to seamlessly upload manual funds into Auditomation.

In an industry where over 25% of funds are still processed manually, we recognised the urgent need for change to help our Auditing customers to service this segment of the market. We heard from our Auditing customers that they consistently faced challenges receiving & organising clients data when it was delivered to them in various formats including PDF, CSV and XLS. Translating this data into SMSF Auditing Software often led to intricate, error-prone procedures, turning a necessary task into a time-consuming, low-value chore.

Simplify data upload and management

With the launch of the manual funds feature, Cloudoffis is now able to convert any type of manual file, including PDF, Excel and CSV within seconds and make it presentable for auditors to start auditing.

“We have delivered on our vision of hassle-free data upload and management whilst providing flexibility and ease for Auditors irrespective of how they receive information from their clients” said Manish Sheladia, Co-Founder of Cloudoffis. 

The integration of AI has been pivotal to process improvement. Cloudoffis smart technology reads and extracts data from trial balances, effortlessly mapping it to its required destination. This minimises errors and ensures consistently reliable data whilst enabling teams to preview and update trial balances before taking any action.

Automation for efficiency: Save up to 1 hour per fund

Our commitment to efficiency has led us to automate the mapping of individual and bulk transactions to their respective buckets. The innovation significantly accelerates the processing of auditing and financial data, saving auditors up to one hour of admin time per fund.

Over time, the feature becomes more intelligent,  memorising mapping rules for years to come, carrying forward any manual adjustments for the following year and reducing manual effort for recurring line items in the future.

Experience the future of Auditing today

Join auditors who have embraced a simplified auditing process with Cloudoffis. Try this new feature today and revolutionise the way you handle manual fund uploads, whilst expanding your network of clients you run audits for. Unlock efficiency, save time and gain valuable insights with ease.

Schedule a demo


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Import & Export documents seamlessly between SMSF Sorted & FYI

At Cloudoffis, we are constantly innovating to enhance your SMSF workpaper experience. Document management is a time consuming, yet important job to get right, which is why we’re thrilled to announce our latest integration between SMSF Sorted and FYI.  This exciting integration with FYI, a leading Document Management System (DMS), will revolutionise the way you work by saving you time and reducing effort, whilst keeping your important client documents secure.

“With the FYI integration, SMSF Sorted expands the Accountant’s ecosystem, empowering you to manage documents seamlessly. Together, we’ve unlocked the potential of document management.” – Manish Sheladia, Founder, Cloudoffis

Let’s dive into the details and discover how this integration will benefit you.

  • Import docs securely from FYI into Sorted
    To save you more time and reduce the risk of error, you have the option to select the default FYI cabinet to upload files to SMSF Sorted ensuring the correct documents are stored in the same, selected cabinet every time. You can also filter the results by year, and cabinet and search for the document name from the Search Bar while uploading any document from your existing FYI Cabinet.
  • Tag line items with ease
    Organising your line items just got easier. Our integration allows you to tag-line items against the documents you retrieve from FYI. So you can say goodbye to manual tracking and hello to an effortless organisation.
  • Upload final workpapers back into FYI
    Gone are the days of bouncing between platforms and having to download and upload final documents. Now, once your workpapers are generated, you can effortlessly save them back into your preferred cabinet in FYI, all from with with your SMSF Sorted portal.
  • Make sure you’re on Sorted Pro to enjoy the benefits
    If you are currently using SMSF Sorted Basic, you’ll need to upgrade to SMSF Sorted Pro to take full advantage of the FYI and Cloudoffis integration. To witness the full potential of the FYI and SMSF Sorted integration, we invite you to schedule a demo with us. Our team will guide you through the integration to demonstrate how it can transform your workflow.

Make sure you’re on Sorted Pro to enjoy the benefits

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Save time and get paid faster with Auditomation Billing

At Cloudoffis, we’re always looking for ways to improve processes for our SMSF Auditing community, so you save time, deliver a better customer experience and improve your bottom line.
When we started to talk to our customers about how much time was spent on billing-related admin processes, we could see this area was ripe for improvement.  Our customers agreed, they needed support automating the process and speeding up the time it takes to get an invoice to a client, so they could get paid faster.

Introducing Auditomation Billing by Cloudoffis

With our new billing add-on, you can save up to 15 minutes of admin time for each invoice your team prepares. For firms auditing 1000 funds, that’s an incredible 250 hours saved per year and around $7,500 in admin costs that can be reinvested back into your business. The new Billing add-on also helps your business get paid faster, which is critical for business cash flow. Xero cites six important tips to speed up payments including emailing your invoices as soon as possible. When talking to Cloudoffis audit customers, we heard that a key reason for their accounting clients to delay their invoice payments included supporting job documentation not being attached to the invoice or the final invoice amount being incorrect. By automating the billing process inside of Auditomation, Cloudoffis helps you to mitigate these breakpoints. We also help increase your team’s productivity by reducing the time spent on invoicing queries. Once the audit is complete, your team’s attention can be turned to new customers to generate new revenue, instead of chasing late payments.

Here are some of the key features of the new Auditomation Billing add-on that will make your admin tasks seamless:

  • Set up billing rules for clients at a global or individual firm level so you have a single source of truth for pricing to ensure consistency across all your clients’ jobs, whilst reducing errors & double handling.
  • Once an audit job is complete, the nominated administrator can add the billing information, including base costs and additional services, to the job and raise the invoice instantly.  The invoice information can be sent from Auditomation to Xero so the invoice is raised immediately.  If you’re not using Xero, the invoice can be raised directly from Auditomation.
  • Once the invoice is raised, it will automatically be attached to the relevant job within Auditomation and can be viewed again with the click of a button at any point.
  • If you need to make changes to the invoice after it’s been raised, you can manage this from your Auditomation account, and if you’re using Xero, the updated invoice information will appear in both Xero and Auditomation automatically, ensuring real-time access to billing information.
  • If your accounting client is using Sorted by Cloudoffis, you can share the invoice and relevant reports directly from Auditomation into Sorted, so you don’t have to bounce between different platforms. You also have the option to download the invoice and reports if you prefer to attach them to your own email.

Over the coming months, we will continue to invest in the Auditomation Billing add-on including adding permissions into the process to ensure your existing stakeholder sign-off processes for customer invoices remain consistent. This feature is free to our existing customers, if you’d like to share your feedback on this new feature, please get in touch via support@cloudoffis.com.au

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First class SMSF: How Macquarie saves 40% by using SMSF Sorted Pro

When Christina Mainey from Macquarie Business Accounting began using SMSF Sorted by Cloudoffis in 2020, she quickly witnessed efficiency savings of more than 40%. It’s big news that SMSF Sorted Lite—a core version of SMSF Sorted Pro which includes powerful OCR tools—is now included with Class at no charge. So thousands of SMSF accountants are ready to enjoy similar efficiency gains. But with a simple upgrade to SMSF Sorted Pro, much more is possible. Looking at How Christina and Macquarie use SMSF Sorted Pro shows why—and is just the start of the SMSF revolution on its way with a groundbreaking AI engine that offers next-generation accounting features.

Why Macquarie chose Sorted.

Before SMSF Sorted, Macquarie’s accountants were spending too much time on workpapers—especially with the outsourcing of other firms creating price pressure. Christina knew there were options, but chose SMSF Sorted for the support and integration. “We were already paperless, and we’d trialled a few options—but Cloudoffis SMSF Sorted was head and shoulders above the rest”, she says. According to Christina, the time savings are priceless. “OCR is my favourite because it saves me time as well as the reviewer. Up to 40%—and with the updates and releases we’re expecting that to reach 50% very soon”. Christina also says SMSF Sorted delivered more than she’d bargained for. “I knew it was integrated with Class and BGL—but I had no idea how well. It’s more than trial balances—it has 17 reports with all kinds of checks”.

Next-generation accounting.

For Macquarie, SMSF Sorted Pro is opening the doors to the next generation of SMSF accounting—with the release of a new AI engine for industry-first automation that removes whole accounting steps. “The automated wrap statement reconciliation is next level”, says Christina. “Some of our wrap reports are up to 200 pages—so importing them for automatic reconciliation is a game-changer”. Christina says this kind of automation can often over-promise but not deliver—but not with Cloudoffis and SMSF Sorted Pro. “With other software you expect things and it maybe doesn’t work. With Cloudoffis, you can believe it—and it just gets better with every release”, she says.

Automation and optimisation.

The Cloudoffis AI is built on strong foundations of automating and optimising day-to-day SMSF accounting. Because SMSF accountants have their own methods, Sorted Pro includes 8 ‘Excel-like’ workpapers for easily customised reconciliation checks. Automated push notifications and query alerts keeps workflow moving and save dead time between necessary changes. But for Christina and Macquarie, the bedrock of automation is the over-21 that standardises compliance checks with automated red flags. “With observations, it’s great to double-check my work with observations—whether work tests are met, payment summaries done, pensions allocated—it just really helps”, says Christina.

There’s a portal for that.

The unique Cloudoffis portal—which supports the accounting, review and auditing processes alike—is a huge plus of using SMSF Sorted for Christina. “Our auditors are already using SMSF Auditomation—so we can take full advantage of what’s possible”, she says. “There are fewer queries about workpapers, and we’re using comments to never write anything twice”. But the portal dashboard offers more than just seamless audit integration—it’s a “great snapshot of how many jobs, how many ready for review”, says Christina. “We’re cracking down on budget with very high accuracy”, she says. “It just gets better with every release”.

Your smartest upgrade.

Using SMSF Sorted Pro to revolutionise Macquarie’s SMSF accounting, Christina’s not looking back. “It’s amazing—“I can jump in at night and do a few things, then jump into Class—it’s so easy”. And on whether the upgrade to SMSF Sorted Pro is worthwhile? “Anything less than SMSF Sorted Pro wouldn’t be enough”, Christina says.

Book your live demo today or call 1300-979-457.

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