Case Study

Clear Path Accounting
See how Clear Path Accounting was able to increase profit & open more team capacity through automating their asset depreciation.
asset registers moved to AssetAccountant™

minutes saved
per client, per annum*

based on only
*one journal per client per annum

Challenges

Faced with Xero | CCH iFirm

Lack of consistency

Limited real-time reporting

Multiple Manual Processes

Re-Keying errors

Separate systems for Tax and Accounting

Advantages

With AssetAccountant™

Standard process for all clients

One-click reporting and journaling

Automated, efficient and easy to use

No re-keying of data

One system for Tax and Accounting

We love using AssetAccountant. The time savings for every client’s depreciation entries means not only is profit increased on every job, but our additional team capacity can be directed to more valuable work. There is literally no risk in the investment of AssetAccountant software.

Suzanne Walker, Director – Clear Path Accounting

Benefits

AssetAccountant™ is easy to use. The team quickly learned how to use all of the software’s functionalities.

The accounting staff both here in Australia and offshore, easily process depreciation in a systematic way, saving time and money.

AssetAccountant™ is a centralised cloud-based process applied to ALL client accounts, completely irrespective of the General Ledger used.

Automation: Depreciation rates for asset categories can be set to automatically apply to assets applied to those categories, even luxury car limits.

Complex depreciation entries are now processed effortlessly thus significantly decreasing risk of misinterpretation and misclassification errors.

Personal use calculations are efficiently processed (where applicable).

Tax and accounting depreciation reporting with a click of a button, without having to re-key anything.

Export asset depreciation journals to QuickBooks Online with another click of a button.

Flexibility of depreciation journaling frequency (monthly, quarterly or annually).

Retrospective journal adjustments are handled easily.

Reporting: Tax depreciation reports are added to clients’ tax returns and the Accounting depreciation report to their financial statements. Clients easily see the difference between the 2 methods.

The process of transitioning clients’ depreciation data to AssetAccountant™ is quick and easy.

Confidence of future reporting: The opportunity was taken in the transitioning process to review any outdated fixed asset registers.

The AssetAccountant™ team responds quickly to feature update requests and team queries.

About Clear Path Accounting

Clear Path Accounting is a mid-sized strategic, future-focused accounting firm located in Blaxland, serving their clients in the Blue Mountains and Penrith areas, Western Sydney. 

They share relevant solutions, provide outstanding support, and inspire positive change. They strive to unlock the full potential of a business and bring clarity and simplicity to the financial side of business. 

Cloud Based Accounting Specialists: In all aspects of bookkeeping, accounting and taxation, including business tax returns, BAS/IAS statements and preparing financial statements, Clear Path Accounting insists on leveraging the latest cloud technologies to ensure obligations are met in the most efficient way.

The firm’s capacity is increased to take on more clients, for more valuable work, with the same number of team members.