Customer story · Keystone Advisory & Tax
Keystone Advisory & Tax cut the rework out of Division 7A and simplified its stack.
Kat Abrahams tested AccountKit for two years before moving the firm’s stack across in May. It has taken the rework out of Division 7A, given the team a flexible way to allocate and review jobs after a restructure, and cut the trips back into XPM.
“It’s about making it easy to find all that information, so having that connection with your clients is still as easy to do.”
- Who
- Kat Abrahams, owner, 20 years in accounting
- Firm
- Boutique firm in Surry Hills, Sydney, with a team of 12
- Clients
- Small to medium businesses, with a focus on the creative space
- Stack
- Xero, XPM, AccountKit, SharePoint, FuseSign
The starting point
Every review change meant redoing the Division 7A calculation.
With the ATO calculator, “you don’t get to save it. As soon as it goes in for review and it comes back with a change, you have to go and redo all your calculations. There’s an hour of your time, at least.” Parts of the old stack were also creating bottlenecks.
The firm’s week, before and after
Every review that comes back
Before1 hour+Redo every calculation in the ATO calculator.
NowThe data stays in AccountKit: re-run the scenario and push the result through to Xero.
Allocating jobs
BeforeA job handed to someone could “disappear into the ether”.
NowSole traders sit in an unallocated bucket for a review group; larger jobs go to a named reviewer.
Moving between systems
BeforeJumping back into XPM to make changes.
NowThe two-way sync with XPM means far less bouncing between systems.
The lodgement tracker
BeforeManual input from the whole team to keep it up to date.
NowWorkflow and lodgement reports pulled straight out of AccountKit.
What they switched on
The tools Keystone Advisory & Tax runs in AccountKit.
Alongside Xero, XPM, SharePoint, FuseSign. Each tool links to how it works.
- ComplianceDivision 7AThe reason she came. “I wanted the Div7A calculator, basically. That’s all I wanted.”
- ComplianceInter-entity loansEarned its place on a large group with multiple inter-company transactions.
- AdministrationWorkflowA review page and work-in-progress lists filtered by team member, built by Kat herself.
- AdministrationDocument managementThe folder structure the team preferred over the old system’s database model.
- AdvisoryClient mapsPart of the stack that moved across in May.
The result
What changed at Keystone Advisory & Tax, in their numbers.
- of rework removed each time a Division 7A review comes back with a change
- 1 hour+
- people on the team, including a new starter already “super proficient”
- 12
- years of testing on a single client before the whole stack moved
- 2
XPM is still “our Bible”, as Kat puts it, and AccountKit is “this umbrella that sits over everything.”
Figures and quotes from the Keystone Advisory & Tax case study, first published on the AccountKit blog.
See how it fits your firm
Try the tools behind this story on your own clients.
Start a 14-day trial, or book a demo and walk through the setup Keystone Advisory & Tax uses with the team.
