The whole signup process of Elements is optimised to immediately create serious value in the businesses that you're advising.
High Level Process
- Create an Account for your practice.
- Connect your first business by linking to their accounting platform.
- Review the Insights generated on either Slack or Insights section of Elements.app
Elements.app imports sales data from:
Intuit QuickBooks Online Xero MYOB Accountright (Elements.app is always looking to interface with other cloud accounting or point of sale applications. Contact firstname.lastname@example.org for further information)
Elements relies on the existence of a central point of sales data which includes:
- Reference #
- Transaction Date
- Client Name
- Transaction type
- Sale Value
Start with your own business. (Importing data)
Import your sales from as far back as exists in your data file. You derive meaningful trends from reviewing past data so most data is preferable.
Confirm that your data is accurate and complete.
- all invoices and adjustment (credit) notes refer to trading stock only. Delete asset sales or refunds and any other non-sales related transactions. (Removing a line of data)
- Apply the "Sales Equation" to a few transactions listed on the Growth screen under "Data". Confirm their accuracy (no more than three or four lines is prudent)
Income = Active Clients x Average Sales Value x Number of Transactions
Income for any period agrees with the Trading Income on your Profit and Loss Statement. If they do not agree, reconcile for discrepancies. Check for the presence of non-trading income (as described above) in the P&L Income figure.
Learn how the app works.
What is your story?
Think about your responses to the information and notifications generated.
Then promote it to your clients.
It is not a bank reconciliation, compliance work or a standard report. If you are a bookkeeper or accountant, Elements.app represents exceptional value.
Elements is a tool for growth. Your client will want to work with you for fantastic advice.
It will add exceptional value to what your regular service.