Over the last 10 years, Panalitix co-founders Colin Dunn and Rob Nixon have helped thousands of accountants improve their firm’s position across profit, capacity, and growth. Built on a foundation of coaching, content and technology, Panalitix is the ultimate membership community for accountants with access to a library of the best content, resources, courses, client monitoring, and marketing automation tools. With Panalitix, you can improve your firm, train your team and get more clients, anywhere, anytime.
Panalitix + Xero
During the client set-up process, Panalitix syncs with your client’s Xero file and consolidates up to three years’ past data to create a business performance review. On each subsequent day, a sync is performed to update the client’s actual data. The information synced is line by line from the chart of accounts and is then summarized based on mapping criteria, which are built into the product and which the accountant can customize. If targets have been set for the client, the accountant can view actual versus target performance in a dashboard format at any time. A range of reports can then be created for the client, summarizing their position. Business improvement content is then enabled by the numbers – for example, if receivables are a problem, the client is presented with a video and some tips on how to improve receivables.
The sync process is simple for the accountant to complete.
- During client setup, you’re prompted to connect the file to the client’s cloud accounting solution.
- Select Xero and enter your Xero login credentials.
- Select the client. The client’s chart of accounts is then presented in Panalitix with recommended mapping for each account. (Feedback tells us the mapping is accurate 90%+ of the time.)
- Adjust the mapping during a cursory review if required.
- Confirm that the integration is complete. Immediately, up to three years’ past data is then synced from Xero to Panalitix to provide the starting point, a business performance review.