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25th June

Catch up on this Engager live training session

Module/Section Title:

Engager Weekly Live: Updates on Time & Profitability Reporting, Budgeted Time, and Upcoming Integrations

Key Topics:

  • Updates to Engager’s time and profitability reporting features
  • Enhancements to completed jobs report (including new filters)
  • Budgeted time settings and customisation per client/service
  • Integration with Xero for WIP reporting
  • Managing file attachments for tasks and services
  • MTD IT: best practices for small clients, software suggestions, and bank account advice
  • Upcoming Adfin integration and webinar details
  • Changes to Companies House filing requirements from 2027
  • Pricing strategies for MTD IT quarterly and annual filings
  • Best practices for invoicing and workflow integration with Xero/QuickBooks/FreeAgent
  • AML onboarding and workflow advice
  • Announcements of upcoming events and conferences

Key Concepts or Theories Explained:

  • Time & Profitability Reporting: Importance of capturing accurate data (time, costs, charge-out rates, service fees) for meaningful profitability analysis.
  • Budgeted Time: Setting default and client-specific budgeted times for job phases; calculation of cost and charge-out rates per phase.
  • Work in Progress (WIP) Reporting: Using Engager and Xero integration to track and export WIP for accounting purposes.
  • MTD IT Compliance: Behavioral change, use of recognised software, and importance of business bank accounts for compliance and efficiency.
  • Invoicing Best Practices: Automating recurring invoices in accounting software vs. ad hoc invoicing via Engager for efficiency.
  • AML Workflow: Customising onboarding phases based on AML supervisor requirements and governing body guidance.

Examples or Case Studies Mentioned:

  • Example of profitability reporting: Job charged at £5.75 with no cost/time tracked (full profit), and a job with £22.50 cost but no billing (loss).
  • Client using personal/savings account for business, resulting in account closure by the bank.
  • Firm’s approach to MTD IT: Charging £45 per quarterly filing (excluding software/bookkeeping), with additional charges for annual returns.
  • Use of Apron and Monzo in the instructor’s own firm.
  • Workflow for reviewing bookkeeping health scores using Xenon before filing.

Learning Objectives:

  • Understand recent updates to Engager’s reporting tools and how to leverage them for profitability analysis.
  • Learn how to set and customise budgeted time for jobs and clients.
  • Gain practical strategies for WIP reporting and integration with Xero.
  • Explore best practices for MTD IT compliance for small clients.
  • Learn about upcoming integrations (Adfin) and how to prepare for them.
  • Understand changes to Companies House filing requirements and implications for practice.
  • Develop pricing strategies for new MTD IT filing requirements.

Interactive Elements (Quizzes, Discussions, etc.):

  • Live Q&A throughout the session (participants asked questions about budgeted time, WIP reporting, MTD IT, AML onboarding, invoicing best practices, etc.)
  • Discussion prompts regarding use of Engager’s new features and feedback on profitability reporting.
  • Invitation to submit feature requests via Engager’s “Request a feature” portal.

Additional Resources or Readings:

  • Engager Help Centre (for webinar recordings and support)
  • Engager.app > Support > Upcoming Events (for event listings)
  • HMRC MTD IT recognised software list (for compliant software options)
  • Social media pages and email newsletters for Adfin integration webinar registration

Assignments/Exercises:

  • No formal assignments, but participants encouraged to:
    • Try out the new profitability reporting and filters in Engager
    • Review and update their budgeted time settings
    • Explore WIP reporting and export options for integration with Xero
    • Submit feature requests for desired functionality (e.g., file attachments for tasks)

Next Steps:

  • Attend the Adfin integration webinar next Thursday at 11:00 (registration via social media or newsletter)
  • Watch for the release of new features (profitability report filter, Adfin integration, Zenon, proposals, TaxCalc integration)
  • Check the Engager Help Centre for the recording of this and future sessions
  • Consider attending upcoming in-person events and conferences listed on Engager.app
  • Review internal workflows and pricing strategies in light of upcoming MTD IT and Companies House changes
  • Join the next weekly live session for further updates and Q&A