A New Zealand bookkeeper explains EOFY

Tips and Tricks for Achieving a Successful EOFY with Clients

As a bookkeeper, you know how important it is to prepare for the end of financial year (EOFY) and help your clients get their books in order.

But how do you manage the workload, the deadlines, and the expectations of your clients?

How do you ensure that you deliver quality service and maintain a good relationship with your clients?

To answer these questions and gain some valuable insights, I sat down for a chat with with Sue Inkersell, Director of 3^rd Arm Admin in Wellington and Hamilton. 

Sue is a successful NZ bookkeeper and is also a five times winner of the MYOB NZ Bookkeeper of the Year award. 

Sue has more than 20 years’ experience and has developed effective strategies for achieving a successful EOFY with her clients.

She shared with me her tips and tricks for managing the New Zealand EOFY process, communicating with clients, and staying on top of the latest changes and updates in the profession.

Questions and Answers

Sue, How do you plan and prepare for the EOFY?

Planning and preparation are key for a smooth and stress-free EOFY.

Firstly, I start by reviewing my client list and prioritising the ones that need more attention or have more complex requirements.

Secondly, I also set realistic deadlines and expectations for myself and my clients and communicate them clearly and early.

Finally, I use a checklist to make sure I have all the information and documents I need from my clients. I follow up with them regularly to remind them of their obligations and deadlines.

How do you manage the workload and the pressure during the EOFY?

The EOFY can be a busy and stressful time for bookkeepers, but it can also be rewarding and satisfying.

I try to manage the workload and pressure of my and the team’s workload by staying organised, focused, and flexible.

We use a calendar and a task management system to keep track of deadlines, and I delegate other tasks.

We also take breaks and look after our health and wellbeing, as well as rewards to celebrate our achievements.

DOWNLOAD: MYOB’s FREE NZ EOFY resource guide

How do you communicate with your clients during the EOFY?

Communication is vital for building trust and rapport with your clients, especially during the EOFY period.

I communicate with my clients frequently and proactively, using various channels such as phone, email, or online platforms. Also, I update them on the status of their work, inform them of any issues or changes, and advise them of any actions they need to take.

Finally, I also use this opportunity to educate them on the best practices and latest trends in the accounting field, and to provide them with value-added services and solutions.

How do you keep up with the changes and updates in the accounting field?

Our profession is constantly evolving and changing, and bookkeepers need to stay on top of the changes to ensure compliance.

I keep up with these changes by reading newsletters, blogs, and magazines from reputable sources, attending webinars, workshops, and seminars, and joining professional networks and associations.

I also use software and tools that are up to date and compatible with the latest standards and regulations.

What are some of the tips and tricks you would like to share with other bookkeepers?

Some of the tips and tricks I would like to share with other bookkeepers are:

• Be proactive and plan ahead. Don’t leave everything to the last minute and avoid surprises.
• Be clear and consistent. Communicate your expectations and deadlines with your clients and follow up with them regularly.
• Be flexible and adaptable. Be prepared to deal with changes and challenges and find solutions that work for you and your clients.
• Always be professional and ethical. Maintain high standards of quality and integrity and comply with the rules and regulations.
• Be curious and eager to learn. Keep yourself updated and informed and seek opportunities to improve your skills and knowledge.

We can add value to our clients by helping them implement best practices that boost their efficiency.

Now, speaking of best practices, it would be remiss of me not to ask about your favourite MYOB features and tools for New Zealand EOFY?

Leanne, I love bank feeds, it makes our job so easy to have visibility over all our clients bank transactions. We set up rules and allocation templates to automate as much as we can for our clients. 

I also love Report Packs, it provides us with a consistent and professional set of reports. 

My clients love the apps, Invoicing on the go, and Capture for digital receipts into the MYOB Intray for us to have visibility on all their source documents. 

I’m also really excited about the latest release of Online Invoice Payments with Stripe. I can see this will automate debt management and improve cashflow for our clients.

I would also like to thank Sue, a Certified MYOB Partner and Practice, for her amazing insights and tips.

As you can see, MYOB has a range of features and tools that can make your New Zealand EOFY process easier and faster.

Whether it’s bank feeds, report packs, invoicing apps, or online payment solutions, MYOB can help you streamline your workflows and provide value to your clients.

If you want to learn more about how MYOB can support your practice, visit our website or contact us today.

Information provided in this article is of a general nature and does not consider your personal situation. It does not constitute legal, financial, or other professional advice and should not be relied upon as a statement of law, policy or advice. You should consider whether this information is appropriate to your needs and, if necessary, seek independent advice. This information is only accurate at the time of publication. Although every effort has been made to verify the accuracy of the information contained on this webpage, MYOB disclaims, to the extent permitted by law, all liability for the information contained on this webpage or any loss or damage suffered by any person directly or indirectly through relying on this information.