Profitdiagnostix gets information from Xero and your practice management software. With this information in one place you have access to reports that combine your accounting information and clinical information.
Benefits of integration:
For service professionals who invoice out of specialised clinical / patient management systems, this integration allows you to:
- Get your invoicing information and clinical services out of your practice management system
- Get fees and services sold from your practice management system
- Get sales information and clinical performance metrics from your practice management system
- Get accounting data, cost of goods sold, supplier expenses, running costs, rent and wages from your accounting software
Once all this important information is in Profitdiagnostix, you can measure your business and staff performance accurately and no longer have to merge hundreds of spreadsheets together and download hundreds of CSV reports from different systems.
Profitdiagnostix also allows you to normalise and adjust your financial statements and reverse out confusing non-commercial accounting adjustments so that your financial reporting is comparable to a business valuation.
About Profitdiagnostix
As a service profession your business information is always in 2 different places: your accounting software and your practice management system. You don’t invoice out of your accounting software like many other businesses, instead you use your practice management system. This means that a lot of your critical financial information is in 2 places.
For example, knowing which staff members completed a job/invoice is stored in your practice management system, not your accounting system. But your wages are stored in your accounting system. So to work out staff productivity you would have to get data manually out of 2 places
Profitdiagnostix allows you to put all this important information in one place and then it AUTOMATICALLY displays dashboards that put all this information together, saving you a lot of time and allowing you to measure KPI’s that you have never managed to measure before.
About Xero
Xero is world-leading online accounting software built for small business.
- Get a real-time view of your cashflow. Log in anytime, anywhere on your Mac, PC, tablet or phone to get a real-time view of your cash flow. It’s small business accounting software that’s simple, smart and occasionally magical.
- Run your business on the go. Use our mobile app to reconcile, send invoices, or create expense claims – from anywhere.
- Get paid faster with online invoicing. Send online invoices to your customers – and get updated when they’re opened.
- Reconcile in seconds. Xero imports and categorises your latest bank transactions. Just click ok to reconcile.
How to connect
If you need help with your connection, our partner accounting firm APL Accountants will assist you in your connection process free of charge. APL Accountants are a Xero certified partner firm. Contact APL Accountants here if you need assistance.
If you want to perform the connection yourself, follow the instructions in our knowledgebase:
https://beefreesoftware.atlassian.net/wiki/spaces/SVA/pages/642416743/How+to+connect+to+Xero
Integration Information
The Profitdiagnostix / Xero integration is a one way integration. Data is copied from Xero into Profitdiagnostix and your Xero data is not altered in any way.
Frequency of connection: The default setting is for the data to be copied once daily at a set time. You can manually start the process at any time by clicking on the ‘Queue’ button. The time for the automatic process to run can be altered to any time of day by ckicking the ‘Schedule’ button.
The following items are copied into Profitdiagnostix using the Xero API:
Chart of general ledger accounts
All general ledger transactions for the last 2 years