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Applications used to run accounting practices

The information displayed on these pages was collected from 750 accounting and bookkeeping Xero partners for the purpose of helping practices quickly learn what apps firms are using to run their practices. We organised the information based upon the services each firm had generated revenue in 2018 so that you easily view the applications these practices are using to deliver their services to clients. This doesn’t mean those apps are right for you – you should always check with an independent expert that what you’re doing is right for you and your practice.

Step one. Decide which service model best fits your plans for next year.

We’ve created three groups of practices based upon the amount of revenue they generated from each of the service categories.

Compliance

  • Practices that generated almost all of their revenue from compliance services defined by having less than £40K of advisory revenue.

  • Accounting, bookkeeping, tax preparation services, payroll services, accounts receivable/control services, VAT and other compliance services.

Simple Advisory

  • Practices that generated at least £40K of revenue from these services in addition to their compliance revenue.

  • Forecasting, budgeting, cash flow and business planning. Startup mentoring, advice and networking/business development assistance. For fee implementation of accounting software for business that are unlikely to become long-term clients and tax advisory.

Complex Advisory

  • Practices that generated at least £100K of revenue from service listed below in addition to their compliance and simple advisory revenues.

  • Virtual financial director/CFO services. Capital raising / financing. Succession planning services. Business app/software (other than accounting) setup, configuration and support services. Business performance benchmarking, HR advisory services.

See results below

The applications firms are using to run their practices are presented in four charts below with one chart for each of the essential app stack categories. The vertical axis shows the percentage of practices currently using the apps. The horizontal axis shows the percentage of practices that are considering to start using by April 2019. The popular applications in the upper right quadrant and the least in the bottom left quadrant.

    Step two. Compare two different service models to see how the practice app stacks are different.

    Step three. Compare app stacks of the service models

    Step four. Compare the average performance of practices of each service model.