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.
Elements imports sales data from:
Intuit QuickBooks Online Xero Accounting / PSO / Sales Reporting systems that can create reports in CSV format
Inherent in Elements is the use of online accounting and Point of Sale systems. The POS system must have a client name attached to the transaction as in a "loyalty system".
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.
- your reference numbers are sequential and that none are missing.
- 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
(If discrepancies occur, contact support (firstname.lastname@example.org))
Income for any period agrees with the Trading Income on your Profit and Loss Statement. If they do not agree, check for the presence of non-trading income (as described above). There could be errors in Elements or 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 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.