2022 Tax Time Bundle for Individual ITR Clients

This ultimate tax time template bundle will save HOURS of your valuable time and will help create more efficient and profitable processes this tax time. It will help your clients become more organised so that their tax returns can be completed so much quicker due to missing information.

The bundle includes:

• ITR Practice Workpaper (Excel & PDF). Every accountant in your practice completes this workpaper, ensuring everything is picked up and it looks very professional as you work through the return with your client. Capture everything on this workpaper during your client appointment or as you are sorting through dropped off records and then data entry directly from the worksheet. As it follows the ITR flow in your software, you can even hand to admin and they can do all the processing for you and if it matches your manual calculations, the return is ready to be sent out.
• ITR Client Questionnaire (Word) – client completes prior to appointment or record drop in and it ensures that they bring all of the information in and makes ITR preparation easier. In most cases, the tax return can be completed in one sitting as no going back and forward chasing outstanding documents. This also captures the client’s details which allows easy updating into your practice management software while they are waiting in reception. An added bonus is that it also includes the engagement terms that they can sign at the same time. Great for next time you have a CAANZ/CPA/IPA practice review! This is going to be a godsend with the ATO’s new requirement to provide granular details of deductible expenses.
• Rental Property Client Questionnaire (Word) – client completes prior to appointment or drop in and benefits are as above. No worries about them leaving their agent rental summary or loan statements at home!
• ITR Master Fee Schedule (Excel) – this schedule is for everyone’s desk so they know what to quote and charge, making the invoicing process streamlined, standardised and less taxing. Complete with an indicative current pricing for 15 itemised service taken from my comprehensive Menu of Services Price List. Both of these resources are great if you have you wondered if you have been charging enough and whether you should be increasing your fee in the coming year.
• ITR Fee Request Schedule (Excel) – this ready reckoner slip can be given to your admin team to bill while you are still in with the client. The invoice can be waiting for them at reception allowing them to pay on the day and you can attend to lodgement on the day. Also saves valuable admin time chasing your money!
• Tax Return Front Cover (Word) – a front cover in your brand colours and with your logo and contact details on it to be attached to the front of your PDF ITR bundle or printed ITR bundle which finishes the package off and makes it look professional and in the clients’ eyes more valuable than a few pieces of paper with numbers on it. Because it’s branded, clients tend to think of you during the year if they have to get their ITR out to take to the bank or just as they are filing – your firm’s branding is on show. It also makes it easy for them to contact you for an appointment the following year as they just have to pull last years out!
• Logbook (Word front cover and inserts) – again in your brand colours and with your logo and contact details on it you have a professional product that doesn’t costs a lot to produce – a nice little giveaway for clients with motor vehicle claims. They think of you and your firm as they complete the logbook over 12 weeks or during the year and you have more to work with next tax time. It also avoids those embarrassing moments when a client gets an ATO audit and their logbook has been constructed/reconstructed before the date the newsagency logbook was printed.
• Rental Property Income and Expense schedule (Excel) – a complete workbook that allows you to capture and summarise information from the agent (monthly or annual statement), you can hyperlink that document for ready reference and for use in the event of an ATO review/audit, capture all loan transactions for the year including drawdowns which may affect the deductibility of interest borrowing costs and bank charges with this information all flowing into the final income and expense schedule where you can capture additional income earned and expenses incurred. The ATO will love this workbook and you can be sure everything is captured.
• Rental Property CGT schedule (Excel) – captures all purchase costs and allows you to keep adding capital costs during the years. Builds loyalty and again looks very professional from a clients point of view. It’s also a chargeable, value added service, with the added benefit being that a quick and easy CGT calculation can be attended to should the client decide to sell down the track. No more waiting for cost base information when a client request comes in!
• New Client Information and ITR Terms of Engagement (Word) – captures ALL new client information and sets the scene for your firm’s professionalism and attention to detail.

This is a huge timesaver for your admin staff, ALL client data is ready to enter into your practice management or tax software and you have an engagement letter already signed prior to the appointment.

I want you to stress less this financial year!

Is this something you want too?