This article outlines the process to follow when sending a proposal to a prospective client. Let's call him David. The below steps assume the David does not exist in either Xero Practice Manager or Practice Ignition, so we will be creating him from scratch. Here is what David needs from us:
- David would like the following services delivered on an annual basis:
- Annual Accounts and Tax Returns (for both himself, and his business - David Industries Ltd)
- 2 Monthly GST (VAT, BAS, etc)
- Quarterly Coaching
- David would also like the following services delivered on a one-off basis
- Previous years Annual Accounts and Tax Returns (as these are overdue)
- 3 Way Cashflow Forecast
In this situation you will have three proposals to send to David. One for the recurring annual engagement, one of the previous years Annual Accounts work, and one for the 3 Way Cashflow Forecast. Here is what you need to do:
- Log into Practice Ignition, go to the clients tab, and hit +New Client. Enter David Industries Limited, and David as the contact.
- Click into the proposals tab and hit +New Proposal. You are first going to create the recurring annual engagement which will be billed over a 12 month period. This is known as a "Fixed Price Agreement".
- Enter the following information:
- Proposal Name: 202X Annual Engagement
- Client: David Enterprises Ltd
- Contact: David
- Proposal Start Date: If you are billing in advance, make the start date the start of the current financial year. If you are billing in the contract period, make the start date the start of the current month. If you are billing in period, make the start date the start of the next financial year. More information on which option to choose here.
- Proposal end date: 12 months after the start date.
- Leave recurring billing set as on*
- Recurring monthly
- Recurring invoice date: up to you!
* When a new proposal is accepted where you have rolled over the existing one, it will automatically switch off the continuous recurring billing on the old one. If there is a delay getting a new proposal accepted, it's easier to move an invoice to a different job, that to follow up a missed payment. It is therefore best to leave this togged 'on'.
- Click into the services tab and add the services Annual Accounts, 2 Monthly GST, and Quarterly Coaching. These should be mapped to the appropriate job templates in XPM under the library > services tab.
- It is important to ensure you only have one job when setting up these services. All three services should be under a single job for billing purposes.
- Edit the values of the service as appropriate, ensuring you have selected "recurring" as the billing type. You can then click into "Job Settings" and update the job name to be consistent with the proposal name (if it isn't already). Review the start date and end date, then hit save.
- Ensure you have the correct terms template select from the "terms" tab.
- In the Presentation tab, add a personalised message and a video (if you wish to do this). To speed things up, you can set up email templates in Library > Notifications > New Proposal Message and just use the default each time.
- Click into the payments tab and ensure these are togged on.
- Lastly, click into Apps, and ensure jobs will be created in XPM, and invoices will be created in Xero.
- You can then hit "Create Proposal" which will take you back to the proposal. Hit "View of Accept in Period" to see what the proposal will look like for David. Review it to ensure there are no spelling mistakes, and the values are correct.
- You can then create your next two proposals for the one-off Annual Accounts, and the 3 Way Forecast. When you do this, ensure the billing type is "On Acceptance" or "On Completion". If you choose "On Completion", it's a good idea to include a deposit so you can get some money up front for the work.
- Once you have created all three proposals, send them to David.
- Once David accepts the proposals, PI will create a David Industries Ltd in XPM, and create the jobs using the job templates that are mapped to the services.
- You then want to contact David to gather all the information for AML requirements. Enter all the missing information into XPM, and any other systems you use to keep AML records. You can capture this information using a Google form, pen and paper, or some other means. Yoiu can try automate this process using Zapier , but generally it just causes issues because the client already exists, so just keep it simple and get one of your administrators to enter these details.
- The last thing to do is schedule the tasks. Jump into the jobs and allocate the tasks to the appropriate team members and set due dates on the tasks. This will ensure the tasks end up on someones list with a due date, and do not get lost.