EOFY Survival For Accountants

You know the drill. One minute you're cruising, the next it's mid June and you're up to your eyeballs in tax planning, renewals, and emails marked "urgent" that probably aren't. Sound familiar? Pour a bevvy and pull up a log, because Andrew and Aly have dragged Amy and Will back to the campfire for an end of financial year reality check.

We get into the good stuff: annual service agreements, re engaging clients without losing your mind. Then it gets spicy. Tax planning, final lodgements, trust distributions and a grounded chat about AML that won't put you to sleep.

Equal parts strategy and solidarity, with a few laughs to get you through to 1 July.

Press play, then go tell a fellow accountant they're not alone in the scramble.

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MUSIC
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PRODUCTION
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Transcript

Dad Joke And EOFY Kickoff

SPEAKER_04 0:01

Hey Ellie. Did you hear about the guy who shoplifted a calendar at 30 June?

SPEAKER_01 0:12

No, I didn't.

SPEAKER_04 0:13

They gave him twelve months. That's a pretty pissed poor.

SPEAKER_02 0:18

That was horrible. I didn't mind it.

SPEAKER_01 0:21

Did you have a bad you didn't mind it, Will? Do you have a backup? Not really. Oh wow. I usually laugh at your dad jokes.

SPEAKER_06 0:28

That was I got a couple of snorts.

SPEAKER_05 0:31

I I snorted. It was me.

SPEAKER_06 0:33

Like, oh maybe maybe it's me this time.

SPEAKER_01 0:35

I'm gonna go with your joke. Anyway.

SPEAKER_05 0:36

I've delivered worse, so I appreciated it.

SPEAKER_01 0:38

This is the typical end of financial year episode, everyone, where we have our tech episode people, Amy and Will, joining us. Welcome.

SPEAKER_06 0:45

Hello. Hi, thanks. Thanks for letting us get crushed.

SPEAKER_04 0:49

And I get in trouble for telling shitty jokes because I'm not as prepared as I should be.

SPEAKER_01 0:55

It was a pretty pisspoor joke. Anyway, we're gonna head to the theme tune and maybe you can recover after.

SPEAKER_04 1:00

Thank you. Theme tune, please, Dave, save us. Alright,

EOFY Stress And Re-Engagement Workflows

SPEAKER_04 1:16

yes, it is end of financial year. Uh almost. It's almost 30th of June. This is always the most exciting time in our lives. Isn't that right? No.

SPEAKER_01 1:26

Who's going first? I wish it was. I do know what I've been on this roundabout so many times, and every time I'm like, oh, I've got it, and every year I don't got it, and it gets me every single time. What is it?

SPEAKER_04 1:38

What is it that makes it crazy this time of year for you?

SPEAKER_01 1:42

Look, I I I think it's not just the usual stuff this year. Like I've been put into PTSD COVID times with the budget changes, and then you put on top the AML stuff, where really I still don't think there's a full solution that I'm comfortable with, but just and just all the normal stuff on top of that. Like I'm feeling it this year, I'm really feeling it.

SPEAKER_04 2:06

What about what about you, Amy? Is there anything that this time of year brings up more than the rest of the year?

SPEAKER_06 2:12

Yes. I have spent an inordinate amount of time with clients in their ignition files, getting them all ready to launch their annual service agreements and adopting different ways of processes and procedures and things like that. So I have probably done more client work in the last six weeks than I have for the last 12 months. That's not entirely true. But um, is it like repetitive work though?

SPEAKER_04 2:36

Like you're doing the same shit. Do you start just getting bored of it because it's over and over again? You're sick and tired of saying the same phrase to the people?

SPEAKER_06 2:43

Never, Andrew. I love having this. What's the phrase? What's the fruit of it with conviction?

SPEAKER_04 2:47

What do you keep saying to your to the accounting clients of yours? What is that phrase where we're like, oh, but we don't want to. What do you say at this time of year? I say shut the fuck up and do it because I told you to.

SPEAKER_06 2:57

Like not quite, but find the episode again. Yes, we do. Kind of. Uh I think it's because it's change management. Like ignition as a piece of software is actually not challenging. It's the mentality around how to adopt, how to engage. Do we go up front? Do we bill on completion? Do we take payment up front? Do we split out our proposals so each entity gets a proposal? Yes, is the answer to that one, by the way, so that you are compliant, but anyway.

SPEAKER_01 3:22

And the first year that you do it, it's hard. Yeah. And then you've got at least something to copy, or you know, you can do a bulk increase later. But I think that's another thing that we've added to our end of financial year chaos is you know, the re-quoting and re-engaging, yeah, on top of everything else.

SPEAKER_04 3:42

We keep saying that we're going to spread that out and do them on a quarter by quarter basis. We just never do.

SPEAKER_01 3:47

But do you know, I think, and we I've had I've lamented about this, the the most fulsome, deep uh conversations you have with clients for me is tax planning. And so it's really good to join them together because you're delivering value and then you're re-engaging them for that next year. So I agree. I get I I I can understand trying to push it out over the year, but I'm not sure.

SPEAKER_04 4:09

The question is what percentage of these tax planning meetings you're actually delivering the re-engagement at the same time? Because I feel like there's always the best of intentions to do it, and then reality hits and you get too busy and you're like, oh, we're not quite ready for it.

SPEAKER_06 4:21

I think the challenge is you guys thinking that you need to do them all at the end of the year. Why don't you actually create them, have them sitting in draft ready to go, review the col review the dollar figure, but the actual proposals ready to go, have them sitting in draft and then send them out as and when you have the meeting or post-meeting. I think that's a challenge is actually the creation of the code.

SPEAKER_01 4:38

Don't mic drop me.

SPEAKER_06 4:41

Don't tell me how to do my shit when it's better.

SPEAKER_04 4:44

A lot of the time during tax planning, you actually learn more about what the clients are doing the next year and therefore the scope changes.

SPEAKER_06 4:51

Agreed with that. So then tweak the proposal accordingly, but the core stuff that's in your renewal proposal typically doesn't change.

SPEAKER_04 4:59

Yeah.

SPEAKER_06 5:00

That's all. So just have a lot of people.

SPEAKER_01 5:02

I actually, you know what? I'll I'll t I'll take that teaching. I actually think that's really valid. It's just a thought. And it's something that admin can do. Yes. So it's not something that you know an accountant has to do. So, you know, I think we should just end the episode because we've actually learned something and we can just move on. Amazing.

SPEAKER_06 5:17

Thanks, Ali. Wait, wait, wait, hold on.

SPEAKER_04 5:20

But we haven't heard anything from Will. Yeah. Will you run an accounting firm? You're an accountant firm. It is almost 30th of June. Yes. You still look healthy and well.

SPEAKER_06 5:31

Is this your first end of financial year? It's the second. Okay, right.

SPEAKER_05 5:36

First real one though. First real one. Okay. Was in like last year.

SPEAKER_04 5:42

Yes. How am I How does it feel to get through a to get towards? Because we're not yet 30 June. How does it feel to get towards a 30 June?

SPEAKER_05 5:48

I I hated 15th of May. And I have learnings of what we're going to do better next time. Um, thankfully I've got Amy's advice from a couple of podcasts where we jewelled out what I should be doing versus what I am doing.

SPEAKER_06 6:02

You will receive my interfinancial year bill, Will.

SPEAKER_04 6:05

I wondered why Will was willing to go on a podcast. It's so we can get free advice from Amy.

SPEAKER_01 6:10

This is something that every accountant is. It's not because you well, thank you.

SPEAKER_04 6:14

So he can get free advice from you, Amy.

SPEAKER_05 6:15

I'm not a sacrificial lamb on behalf of everyone listening in. I'm happy to put myself in front of Amy's hotshots about all the shit that I'm doing wrong that I should fix. Everyone can learn on behalf of.

SPEAKER_01 6:25

But this is a question that every tax agent asks each other. What's your percentage this year, Will? Do you know what your lodgement percentage was?

SPEAKER_05 6:32

I do. We cracked 65 uh 61 um 65. Um sorry, 85. I was gonna say when you say that without I was like, okay. But so you know what? What I've

ATO Disputes And Client Advocacy

SPEAKER_05 6:44

learned this year is I think what I re the work I really enjoy doing is the work where I feel like clients are being wronged and there is a fight or a dispute on hand with the ATO. Oh I did not know this about me.

SPEAKER_04 6:59

No, I could I could have picked that years ago. Yeah, you're up for a fight.

SPEAKER_05 7:04

I just it's happened, I don't know how it's happened, but I've picked up a couple um recently where Klein is adamant, things are in good order, and it just it does feel like they're being um the approach is a little bit heavy-handed, there's a little bit of injustice there, and there's a little bit of like try and right the wrongs. I enjoy I enjoy the process of trying to be part of the solution of writing the wrong and getting the right outcome, but it's a very stressful and um because you're not in the power position. No, no. Um, but I've done so our loggement percentage has since dropped because we've taken on a few of these challenging larger groups that have been.

SPEAKER_04 7:43

This is a bit of our experience this year as well, as we've picked up a few and we went, well, we're judged by our clients' situation, not by our situation. So it's it's it's a bit of an unfair one, but you kind of get hit a bit here and there.

SPEAKER_05 7:54

Yeah. And so I think for me the learning is for this year is um not being afraid to be willing to stand up for clients when the system is maybe putting a bit of pressure and rejecting them and putting them in a tough spot when it feels like it's not necessarily right. And at times I've been on calls with ATL auditors where I've felt professionally threatened or in a difficult spot or being a little bit black sheep when all I'm doing is trying to stand up for the client and represent them to the best of my ability. Turns out that I get a kick out of that, but it can feel very isolating when you're coming to a cinema near you, tax man, starring all button.

SPEAKER_06 8:32

Isn't that your role as an accountant to actually stand up on behalf of the client to advocate for them?

SPEAKER_04 8:37

Yeah, there's a depth though. There's a depth where you have to have a skill set to be able to do that. I agree with you. I get that. Like there's only so much.

SPEAKER_01 8:45

Sometimes it's like you're having to train the ATO because they don't get it. They've got the wrong people on, they don't understand the the technicalities and the tax legislation themselves, and so you're teaching them sometimes, which can be enormously um cumbersome and tiresome.

SPEAKER_05 9:00

How do you feel when you do that when you have those conversations and matters, Ali? I'm frustrated.

SPEAKER_01 9:05

Um but after many, many years of doing it, yeah. I just come in from a teaching perspective, an education perspective, and just hold ground. Um or go up the go or go up. Where's your manager? Who can I speak to? Yeah. Um, because you can literally just spin your wheels um and go nowhere. And sometimes I've actually been blunt and said, What are you looking for? What is it that you think is the wrong thing here? What do you think the outcome should be? Or do you have a quota to meet? And you usually get more of an honest answer. Um, and sometimes it's not at all what you think they're looking for. Um or you find something to dedicate your loss so that they have a win and off you go. Um it is it is a negotiation. Um but in saying that I've been contacted by the early intervention ATO program. Um because apparently there's some benchmarks in my business that are wildly out. And look, I'm I I'm happy to mate with them because there's nothing going on. But it's just interesting that you know they contacted me literally on the 5th of June saying, can we have a meet and greet? I'm like, not right now, no. Bad time of year.

SPEAKER_06 10:08

I was like, do you know what time of year it is? Why would you want this? Oh, I I keep getting I get stuff like this. That's right, you're the ATO, you don't care.

SPEAKER_04 10:15

So I get stuff like this for some reason at like 7 p.m. on like a Tuesday night, and this seems to happen like once a month, the ATO calls me on my on my personal mobile phone, which I've never connected to Illuminate. It must be somewhere in my some some like tax practitioner personally, something somewhere. And they're like, hi, I would just like to talk to the um illuminate tax agent about about a client. I'm like, this is my personal mobile number. It is 7 p.m. on a Tuesday night. What are you doing? They're like and they're calling from Perth. So they don't understand time zones, which once again blows my mind that they can't figure that kind of stuff out. But um I'm like then I reckon I've I reckon I've told them and escalated it at least more than a dozen times. I've escalated it, I've come sent complaints in. I'm like, can you just remove this number? Because you call the office and we deal with it as an office. You don't call me on my personal number when I'm like sitting at home having a beer with beer and just watching TV and stuff. That's you don't want to talk to me three beers deep on a Tuesday night. That's not a good conversation if you're at the ATO.

SPEAKER_06 11:15

I have a similar issue with my IT provider. They do the same thing. I'm like, I have given you strict instructions to not call me. My team have full rights, they can say yes. Don't call me, don't call me for permission.

SPEAKER_01 11:25

And the other thing I've noticed recently is that ATO is back on phone calls and it's so annoying. Just email me through the portal. Like, do we manage it? Which is funny because we used to complain about talk to me.

SPEAKER_06 11:37

Oh the irony. I'm like, why is there no human being to talk to? Oh, now it's like, can you go away? I can't have time. I want to I want to speak to people that I like.

SPEAKER_01 11:45

No, if I want to speak to them, I need a human. But when they want to speak to me, you can just go through my portal.

SPEAKER_04 11:52

Alrighty, so it is end of financial year. Uh I

One Word For The Year

SPEAKER_04 11:56

do have like three questions that I need to run through here. Okay. Um question number one is uh can you can you give a word or a phrase that defines the last 12 months within business? And Will, I'm gonna start with you. Because you look the least prepared.

SPEAKER_05 12:17

Uh a word or a phrase last year. Um yeah, no, like validating. So um new into the profession again on the tools, glad I did it. Had a it's been 18 months now, and the past 12 months has been validating that was the right thing to do. Still learning a ton. Um but yeah, no, definitely glad that I've that I've done it and I'm still here. I'm glad that you're still here too.

SPEAKER_01 12:42

So my, so my.

SPEAKER_04 12:44

What about you, mate? What's your real phrase?

SPEAKER_01 12:47

Uh, all in on change. I had some big changes in all in this year. I'm not sure if everyone knows, but Lee has um Lethal. Lethal Lee has decided to move on into another role.

SPEAKER_04 13:01

So um Is this one of the reasons why you're getting this early intervention? Like Lee's just going, see ya!

SPEAKER_01 13:08

No, no, as soon as we've got a client list, my high net wealth individuals are obviously fishing for stuff. But um, it was um something that had been coming for a little while, and she just I think you know what? Um, with all the changes coming through in the profession, she was just like, I'm I'm losing the love a little bit. I'm I'm over it. I want to spend some time with the fan band. So she's taken another role, not in an accounting firm at all, but just in commerce, doing a bit of financial accounting. So that was obviously a major change. And look luckily she left the business in a really great shape in relation to you know, we're eight years in and we've got you know really solid team and processes and things like that. But I think for me that was a big loss and something that I would agree for a little bit. And we're still mates and still catch up, but you know, all in yeah, Lee and I wouldn't have. Oh, I feel the love for you.

SPEAKER_04 14:00

Lee was the first ever member of All In that I ever met.

SPEAKER_01 14:03

Yeah, I met her first. It wouldn't have happened without her, and I need to give her all the props in the world for that. And um yeah, so that's been obviously a big change, but I've had some amazing team members kind of step up. And I look part of that was um I think last year was chaotic because of my personal situation. So I like it's all just kind of combined, I think.

SPEAKER_04 14:25

So yeah, change. Amy, before we go to you, we're gonna hit break pause, we're gonna go to our wonderful sponsors because they're amazing. We're gonna hear from them, and then we're gonna come back and I'm gonna hear your word or phrase about the year. The crew at Fuse Sign, right?

SPEAKER_01 14:55

They're the absolute bum. Yes, I get asked that all the time. It is digital signing done simply, my friend. It is amazing.

SPEAKER_04 15:02

It's so simple. I love it. It gives you great control, heaps of flexibility, and the experience for clients and team is quite exceptional, too, right?

SPEAKER_01 15:09

Super easy to use on both sides.

SPEAKER_04 15:11

Bloody amazing. Excellent. Get amongst it, friends. Fuse your signatures today with Fuse Sign. I love software that continues to innovate over years and years of time, and BGL is one that stands out above the rest, if you ask me, Allie.

SPEAKER_01 15:30

100%, but they do so much as well. Corporate compliance, self-managed super funds, BGL ID verification, and Simple Invest 360. Honestly, there's so much in there.

SPEAKER_04 15:40

It's so good. It means that there's a bunch of stuff within your firm you need to do, and you only have to go to one place to be able to do that, which is fantastic. No mucking about with different things. Just get in, get it done, and make it happen.

SPEAKER_01 15:50

Absolutely. BGL.

SPEAKER_04 15:58

Hey Allie, um, who do you use when it comes to you know additional resourcing for your accounting business?

SPEAKER_01 16:04

Uh 100%. Tell Global, they're the bomb. And you? Yeah, me too. Oh! We are we are the both the best. Why do you use them? Elite talent, my friend, for an accounting firm, and people are job ready.

SPEAKER_04 16:15

Ready, rock and roll. I love it. I think it unlocks firm potential. I think it's really good, and I think it's it allows you to build a strategy to grow your business and service your clients better.

SPEAKER_01 16:24

100%. Get onto it.

SPEAKER_04 16:25

Get amongst the friends, Tower Global. That's where the good stuff's at. Alright, Allie. That was amazing from you.

unknown 16:36

Thanks.

SPEAKER_04 16:36

Yes, I was gonna say Amy, and I said Ellie. I pulled it into Amy. Ellie, that was great for you.

SPEAKER_06 16:46

And then we all laughed.

SPEAKER_04 16:48

I'm too used to recording with Allie and coming out of the brakes coming, hey Allie. As my my brother-in-law Zach would always go, he'd be like, okay, Ellie's friend Amy. Umly's friend Amy, what is your word of phrase for the last 12 months in business?

SPEAKER_06 17:05

Big, hairy, audacious girl. Yeah, big lace girls.

SPEAKER_04 17:10

You've ticked them? If you've ticked her?

SPEAKER_06 17:12

Yeah. Yeah, didn't think.

SPEAKER_04 17:15

Does it mean you need to get a new one?

SPEAKER_06 17:17

Yeah. Yeah.

SPEAKER_04 17:18

Bigger, hairy of the bigger.

SPEAKER_06 17:20

It means that the demon are gonna bali. Amazing. Yeah, which is fun. I just have to book it in. My bad. Um, but it is happening. Um, but it's okay, when I said it, it was a throwaway. Yeah, sure, that's not gonna happen. And we've exceeded the B hag.

SPEAKER_05 17:37

Do you reckon without the reward it would have happened?

SPEAKER_06 17:40

Uh yeah, I do think it would have actually happened, to be honest with it. With you. Um yeah, there's just been we've had a lot of change internally. I think it's more just a refocus, that's a reshift. Um, I've had some personal changes. I've had some physical, personal physical changes as well, which has also helped help with that whole thing. But I think it's really helped to consolidate my mental brain space as well. So I think that's also really helped things. But equally, there's been a lot of amazing things that have happened internally. Like um, we've changed our pricing structure. I have an amazing human being who is doing um the BD side of things, and I have uh phenomenal team members who are delivering the actual service. And we're just I just humming. I love my team at the moment. I'm humming so much. It's just it's humming. It's been yeah, it's been a really good year.

SPEAKER_04 18:28

I I'd I'd like to aim for maybe like a tiny, smooth, realistic target instead of a big hairly audacious goal. Like we should introduce that into like, you know, you know, forecasting and targets for the year. Would you want to throw that? What's your tiny, smooth, realistic target?

SPEAKER_06 18:41

Smooth, realistic target. I like that too.

SPEAKER_01 18:44

My one person they're better every day type thing.

SPEAKER_06 18:46

Look, to be honest with you, I think that this year, like going into the new financial year, we have our end of we have our EFS um strategy day and that kind of thing. I think it will be a little bit more of a realistic. I don't think there'll be a B Hag.

SPEAKER_04 18:56

Well when you have a big one you kick, you kind of it's you don't want to just load up for the next one. Hey, we just killed it, let's just keep killing it. So, all right, maybe we need to just pause and average it out.

SPEAKER_01 19:05

Big year, small year, big year, small yeah, you've got to average it out.

SPEAKER_06 19:07

I've been trying to make it, I've been trying to crack the standard goal for the last 10 years. So when I I was like, my my goal this year was I just want to crack this mark in terms of revenue turnover, that kind of thing. And then I was like, ah, screw it, we'll just we'll chuck a B hag on there as well. So it's taken 10 years of hard work, it's not like it's just happened overnight. Do you know what I mean? Like it's this is chipping away every year, um, that kind of thing. So yeah, it's I love that, Amy.

SPEAKER_01 19:32

I love that for you. It's the accumulation, it's kind of like the overnight success. Um, certainly it was not overnight, let's be honest. But others will talk to you like it is, right? Yeah, no, but it's basically all the hard work that they've gone in and accumulated and all of those little things that you've had to change along the way. Like, I love that the accumulation of it. Thank you, appreciate it.

SPEAKER_04 19:54

What about you? Yeah, well, mine's somewhat connected to yours, Amy. It is uh hairy, is what I was gonna say. And uh and I have a few layers for this because obviously over the last 12 months I have regrown my beard. I have allowed follicles to uh protrude from my hair.

SPEAKER_06 20:11

I'm really grateful for that.

SPEAKER_04 20:12

So yeah, I think most people are when they see me now, they're like, there was that stage when you didn't have the hair on your head and your face, and you we didn't like it. It was just so that's been a part of it. I think the other hair like it. Yes. Okay, good. Yes, I'm ecstatic. Good. Um I'm ecstatic. Um but the other part, I think the hairy element has been like the you know, b business and and the multiple businesses that I'm involved in has has been hairy. There's been there's been challenges that we've overcome, there's been challenges that we haven't overcome. Um juggling the multiple businesses and trying to be around the family and all that kind of stuff. I've found it to be a very, very hairy experience and something that I'm very much keen on having more control over going forward.

SPEAKER_06 20:53

Not repeating or continuing.

SPEAKER_04 20:55

Yeah, yeah. Well we'll see. We'll see. Um, I mean, Ali and I talked about this year of change, and and uh Ali's in a current year of no, and I'm like, next year is gonna be a year of no for me. I get through this year, and it's gonna become a year of no to some extent, and that really just focusing on the thing that I've said yes to. And so I think this year has been that hairy year because I'm trying to position myself where I can start being in a really firm here's my focus, and unashamedly, I'm doing this, um, knowing that it is beneficial for um all those people that are around me within business, within life, and personally as well. That's it, and I can say no to things and be really happy with that.

SPEAKER_01 21:32

Here's a here's a hot tip about saying no, because I am in my year of no. Yes. You start off and it feels a bit uncomfortable. Oh it feels icky. It does, it feels icky, but it's like that muscle that that grows and strengthens. Like, how empowering is not my no is just literally off the tongue, and then I'm like, oh hang on, maybe I should do that. No, but what's it?

SPEAKER_06 21:53

Now everything is no, it's like, oh actually, no, I probably can't do my man.

SPEAKER_04 21:58

No.

SPEAKER_06 21:58

Yeah, no.

SPEAKER_04 22:00

No.

SPEAKER_01 22:03

Now I think I'm too trigger happy on the no. So be careful, be wary of that one. But it's hard to start with, and then you just kind of really get into the flow of it. Yeah.

SPEAKER_04 22:14

Cool. Awesome. Well, that was the last 12

Next 12 Months And Saying No

SPEAKER_04 22:17

months. What I would like to talk about now is the next 12 months, because obviously in a financial year is that like line in the sand to some extent. We get to hit a reset when it comes to PLs. Uh, you know, all targets we might set, we might restart again. Uh, as well as sometimes like mentality changes, I find like I was chatting to one of my team, he's like, I'm really looking forward to get to June 30. June 30. I was gonna delete all my unread emails and start again. I'm like, well, we can we can maybe do it a little bit differently than that way. But I but I can see you know the sentiment of what it looks like is I can just write off whatever happened, the good, the bad, the in between, I can start fresh again. So uh we'll go reverse order, um, but not including me. Um Ali's friend Amy.

SPEAKER_02 22:55

You just did it again.

SPEAKER_04 22:57

I did it on purpose that time, thank you.

SPEAKER_00 22:59

I am a class act.

SPEAKER_04 23:00

Ali's friend Amy.

SPEAKER_00 23:02

Um what's the question? Well, she is my friend.

SPEAKER_04 23:04

What are you looking forward to in the next 12 months? What's the other than Bali? And I I I I'm assuming that the three of us are somehow connected to this Bali trip given that we're on the train. She's by the time. Where we're on the train, like you know, with you know, we've we've given you the position on the podcast Ellie and I have. So I feel like, you know, I feel like that's a thing, right?

SPEAKER_00 23:21

Like she's doing us a service. Come on.

SPEAKER_04 23:23

Sure, we've got to get in there. She's carrying us. I don't know. Bit of BD that's helped.

SPEAKER_06 23:28

Um anyway, what are you looking forward to in the next 12 months? Next 12 months, I think there is an element of travel, definitely, but that's not the main thing. I think the next 12 months for me is probably bedding down what happened this year and actually making it really consistent. So consistency is key for us. Yes, increasing a little bit more, you know, but also just continuing on the same trajectory that we have been on. Um probably not quite as much of a jump as what we had last year. But then again, never say never or this year, sorry. Um but I think yeah, it's actually more about consistency. I think that there will definitely be an element of change as well in the latter half of the financial year, probably early next year, as in like January-esque, um just in relation to some service offerings that we have and things like that, which this space. Um but other than that, yeah, a little bit of change that which will probably potentially be people change and things like that. But yeah, consistency from a Clarity Street perspective and change in other areas. Also, maybe a bit of a fresh new view for Clarity Street, because we're in our tenth year this year.

SPEAKER_03 24:28

Oh, yeah. Is that a rebrand? What is it?

SPEAKER_06 24:31

Up left basically, what's going on? Not entirely, we're not changing. Clarity Road. Clarity Highway. I was waiting for it. For Clarity Way. No, I am and I'm not doing that, uh, not rebranding the name, just possibly just a bit of a just a bit of a freshener, a fresher approach, I think is the best way of saying that.

SPEAKER_04 24:51

Okay. Fresh approach.

SPEAKER_06 24:53

Fresh approach.

SPEAKER_04 24:54

Just change the colours on the branding.

SPEAKER_06 24:56

But even not quite. I think it's just a different tone, etc.

SPEAKER_01 25:00

Branding change anyway. Fun.

SPEAKER_04 25:02

Alright. Well, that's good. I feel like we're I feel like we're about to get kicked out of this room that we're currently recording in. No? Will's just Will's just had like an arm wrestle with uh the front of house. My apologies. Yeah.

SPEAKER_05 25:14

Apologies everyone for the background noise. That's okay. Like I said, I'm enjoying standing up on for the right cause, and uh that was another example. No, I did book this room for this printer's. We do like staying overtime and talking all night together. What do you do?

SPEAKER_04 25:29

Speaking of what you do like, what are you looking forward to over the next 12 months?

SPEAKER_05 25:33

Uh swinging.

SPEAKER_04 25:34

Swinging.

SPEAKER_02 25:37

Oh my god, keys in the city.

SPEAKER_04 25:39

I was gonna say there was no keys in the bowl with the rock top here.

SPEAKER_01 25:42

I didn't know about the keys in the bowl, Amy.

SPEAKER_06 25:45

We said swinging. Sorry, I'm moving on.

SPEAKER_05 25:47

We're gonna swing. Not in that way. Uh my business partner and I we've just decided that I mean, we said this from the start, we're doing Mr. Swing. Um, we took a swing this year, we bought our first firm, it's been going great. Um, we love it, we love the team, we love the clients, and we're gonna swing again, maybe even a couple of times. So next year is the year of the swing. I like it.

SPEAKER_04 26:06

I like how short and concise you are. Like I've got I've got three paragraphs.

SPEAKER_05 26:10

You asked me about last year, and I didn't have a clue what next.

SPEAKER_04 26:12

No, but you were short and concise still. Like Ali and Amy were just like blah blah blah blah blah blah blah. And you were like bang dumb. You know what?

SPEAKER_06 26:18

I like the sound of my own voice, Andrew.

SPEAKER_04 26:19

I like the sound of your own voice. I like the sound of your voice too.

SPEAKER_05 26:22

Ali's friend Amy gave me feedback that I need to shorten and sharpen it up sometimes. And I thought, I'm just taking on that feedback. Maybe, maybe it's the first couple of episodes.

SPEAKER_06 26:32

We can have a waffle on.

SPEAKER_05 26:33

Rabba rabba rabba raba.

SPEAKER_06 26:34

It's a bit of a waffle on. It was quite funny.

SPEAKER_05 26:36

And you know what, Amy? Ali's friend Amy was great at giving I've never heard of it.

SPEAKER_02 26:43

Have you even?

SPEAKER_04 26:43

Anyway, I wasn't supposed to let it pause and hang and that Will knew that what that meant, and then no one else knew it's it.

SPEAKER_01 26:55

He records it and walks away.

SPEAKER_04 26:57

He just a million listeners are now going to realise that I I care deeply about them, but once I'm done, I'm done.

SPEAKER_06 27:03

No, I mean to be fair, Andrew, I'm the same. That's okay.

SPEAKER_04 27:07

It's okay.

SPEAKER_01 27:10

Allie's the quality, she's quality control. And to try and beep out the explicit.

SPEAKER_04 27:14

Anyway, Amy's friend Allie. Um what's what's what are you looking forward to most of the next 12 months?

SPEAKER_01 27:20

Um look, I'm gonna bring the energy. All in energy is what I'll call it. Um, you know, new things, bit of bit of a change up, but in saying that I want the base to stay the same. But I'm feeling a renewed energy um about my work and my team and my clients. So I think there might be a bit of creativity and innovation in there that I haven't had for a long time. So that's what I'm kind of looking forward to. And I think you know, with all the changes that are being forced on us, I want to bring some positive stuff back into biz as well. So not just the compliance and the AML and the lodgments. Like I want to bring a bit of spice and good spice, a bit of spicy, a bit of hairiness, good hairiness.

SPEAKER_04 28:04

You don't want hair in your food, spice in your food, that's what you want.

SPEAKER_01 28:07

No, I definitely don't want hair in my food.

SPEAKER_04 28:09

I mean, some hair can be some hair could be spicy.

SPEAKER_02 28:13

I think so.

SPEAKER_01 28:14

No, I have to say no to that. Definitely not. What about you, Andrew?

SPEAKER_04 28:20

Um I've been I've been percolating over a few things, but I'm I think I'm gonna I'm using the term or the word uh like realised or realization. Uh and my thinking for the next 12 months is like there's been a lot of hard work that uh at a business level and a personal level I've put in over the last 15 or so years of running a firm and I and a few other things outside of that as well. And I am looking forward to and have some hopes, plans, and dreams to realise some of them to like a fruition end point with some of the things that I've been doing too. So a bit of closure. I like that. Yeah, like like closure, maybe. I don't know if it's closure because I I don't see the door closing on those things. I think it's small just like evolving. Yeah, like an element of evolution, but like an element of realization of like of like the the you actually benefit from that now. Uh you know how sometimes you put in a lot of work for ages and it's like hey, I'm just not getting the bang on this kind of thing. Reaping the rewards. Yeah, I think I think that's I think that's gonna be I think that's what I'm hoping for for the next 12.

SPEAKER_01 29:16

You sew.

SPEAKER_04 29:17

Yeah. I like that. Could I do that? Do you like do you like sewing, Allie?

SPEAKER_01 29:21

Do you use a sewing? Oh, do you know what I'm saying?

SPEAKER_04 29:23

I was gonna say people of your age love sewing.

SPEAKER_01 29:26

I am disgusted in you. We've talked about this on multiplications, but I don't mind sewing. I held on for 25 minutes and it came. I don't mind sewing. I also don't mind knitting. I also don't mind gardening.

SPEAKER_05 29:39

I hate gardening.

SPEAKER_06 29:40

You can leave the knitting, but I'm the same with you sewing and like baking. I'm quite uh I'm I'm down with baking, Allie. Fun fact apparently got a cake on the go at the moment, actually.

SPEAKER_04 29:50

Fun fact when I was uh younger, I used to do a lot of stage acting there like, and for one character I was in, I had to learn how to knit because my character in the in the stage play was like a closet knitter. And so for the four months of of rehearsing, me and three other blokes would sit in the front row and knit when we're not actually on stage rehearsing, and it was like it was the most fun four months ever. I just made the I only made scarves because I didn't learn how to actually knit, I just learned how to like make a long line of shit.

SPEAKER_01 30:16

But and and do you do you reckon if you got a set of needles, you know, you'd be able to get it back in there?

SPEAKER_04 30:20

You know, like kind of like I I'd need a bit of warm-up um and I wouldn't be that good, but um it was good. How to succeeds in how to succeed in business without really trying is what that was called. That uh that stage play was. Yep.

SPEAKER_01 30:30

Oh, okay. I thought you were going to say succeeding in business with knitting needles, but no, no, no.

SPEAKER_06 30:35

How do you get knitting needles into that? Anyway.

SPEAKER_04 30:39

I played the president of the organization, he was a closet knitter, it was the thing that no one knew about me in the in a play.

SPEAKER_06 30:45

Did you write the storyline?

SPEAKER_04 30:46

No, no, this is like a massive Broadway thing, mate.

SPEAKER_06 30:48

Oh, okay.

SPEAKER_04 30:49

You uncultured swine.

unknown 30:51

We got Broadway.

SPEAKER_04 30:53

I had to dance and sing and act and everything. Fucking hanging.

SPEAKER_01 30:56

Hang on, hang on. Where is the dancing coming from? You said that you weren't a dancer.

SPEAKER_04 31:02

Yeah, I if I had to, I would.

SPEAKER_01 31:04

Really?

SPEAKER_04 31:05

It wasn't much dancing. I was more than dancing, was it like that?

SPEAKER_06 31:09

But you're not part of the cabaret. Wow, are we digressing just a little bit?

SPEAKER_05 31:12

I think Andrew tap dances. No tapped.

SPEAKER_06 31:14

I reckon closet knitting, closet tap dancing, no tapping.

SPEAKER_05 31:18

You know, Irish pencing, Irish dancing, pole dancing.

SPEAKER_01 31:21

No, absolutely not.

SPEAKER_04 31:23

Anyway, I think we're coming to a close for our our interfinancial conversation. Um is there anything that the three of you feel like we haven't touched on that you really want to bring to the forefront to close this conversation off with?

SPEAKER_06 31:34

I want

AML CTF And Keeping Perspective

SPEAKER_06 31:35

to um bring up something just uh real briefly around the AML CTF stuff because whatever, Andrew.

SPEAKER_01 31:42

It's very important to everybody else.

SPEAKER_06 31:43

Yes, but this is this is my little no.

SPEAKER_01 31:47

Anyway, I'm sure if we asked your team that might have been slightly different.

SPEAKER_06 31:50

I want to remind every accountant out there that up until this point and the 30th of June, you have relied on your intuition around how you feel about the clients that are sitting in front of you when you meet a brand new client in terms of their risk factor. But the AML stuff, whilst it is a regulatory thing that you need to do, is not going to you know remove your ability to actually make a judgment, a sound judgment about whether you want to bring on a client or anything like that. So don't forget that component. This is more just about just the validation, like this is a validation bit, yes, it's a legal thing you have to do, but it's this is just the validation. It's not actually removing your ability to make sound judgment around a potential client. It's just come up recently, and I'm like, I think I need to remind people of that.

SPEAKER_01 32:32

I would just add to that, you know, I know that there's a lot of noise out there. Yes. Sometimes when things are really, really noisy, like you know, when you're driving a car and it's like you're only just so much going on and you turn the volume down. Sometimes we have to turn the volume down. And that means for me focusing on the things that we're really good at and love. Um and yes, those other things need to be done. But to, you know, yeah, absolutely. To not overthink this one, to not get too stressed out, um, and that we have really good risk assessments based upon what we do for a living. Um so yeah, completely concur with you there.

SPEAKER_06 33:07

Thanks. That was all. I'm done now. Great, I've got my soapbox.

SPEAKER_04 33:11

That was good. No, I appreciate it.

SPEAKER_06 33:12

Thanks.

SPEAKER_04 33:12

And if anyone needs help with their ID email or CTF compliance in the next year, I have a chat with uh Amy at Clary Street. I reckon you'll be able to help.

SPEAKER_03 33:18

And definitely not Andrew. Yeah.

SPEAKER_04 33:20

Uh hey, as a matter of fact, thank you very much. My entire team have already had AML CTF training. We've already got the software chosen, and we're already in the implementation phase and almost ready to go live. We already have people assigned to all the different roles. We're on top of this shit. Thank you very much.

SPEAKER_06 33:33

We would like to thank your amazing practice manager for orchestrating that. She is a gun.

SPEAKER_04 33:38

She is a fantastic human and very good at a job.

SPEAKER_01 33:41

Yep.

EOFY Parties And Closing Thoughts

SPEAKER_01 33:42

Well, I my fun my piece of advice to everyone is go and enjoy yourself, friend of natural years. Yes, you know. Oh, yeah, have a party. Yeah, have a party. Are you guys having a party?

SPEAKER_05 33:51

Yeah, we're having a party. Yeah, we've got a bowling alley around the corner. Um, so we're gonna be beers, wings, and bowling. Beers wings and big and bowling. Send and bowling. Yeah, yeah.

SPEAKER_04 33:59

We're uh we're off for some tappers and whiskey bar vibes, and then we'll see where the night goes.

SPEAKER_06 34:05

It doesn't sound like a standard Andrew and a financial year celebration. We came.

SPEAKER_01 34:10

There's no like tattoo artists, or is that for the No, that's for the big that's when we have clients around, we bring the tattoos out.

SPEAKER_04 34:16

Yeah, yeah, not this year. No, we were trying to go, there was this saloon that's opened up around the corner from us, but you can't book because it's like just absolutely packed with humans, so we're like probably not not the best spot to rock up for an AFO party.

SPEAKER_06 34:29

Uh our EFO party is small, uh just leadership take.

SPEAKER_04 34:34

But mighty.

SPEAKER_06 34:34

Yeah, because I'm taking the Dinkabali a month later. So I'm like, yeah, I know. Yeah, let's just combine.

SPEAKER_03 34:41

But I thought you were you budgeted that because if you be, oh geez, taking the gifts away from people.

SPEAKER_06 34:45

No, it's because we all work remotely, so I feel like yeah, it's actually that. If we all were in the same state, oh no, we'd definitely be doing something, but yeah.

SPEAKER_04 34:51

We're actually we're actually flying in our interstate as um for and finish years, so we'll have like three days with them in the lead up to it as well, which is always really nice. We don't get to see heaps of them.

SPEAKER_01 35:00

Andrew, there's always something you are actually incredibly thoughtful. Thank you.

SPEAKER_04 35:04

I'd like to say that a lot of my team drive a lot of this as well. Like, I I I'm I'm grateful that they say, hey, this is what we'd like to do. And we're like, amazing. Yes, yes, but I don't have to be thinking and trying to do this stuff, which is amazing. Yeah, I'm very grateful for that.

SPEAKER_01 35:16

Well, we are doing adventure rooms in Indian. So all the team voted on.

SPEAKER_04 35:21

I don't can you are you fluent in it? How are you gonna be able to do an adventure room in India? I can only do it in English.

SPEAKER_01 35:26

We should be eating Indian food.

SPEAKER_04 35:29

Whilst you're doing an adventure room? That's insane!

SPEAKER_01 35:31

I know. Multitasking, that's what we're good at.

SPEAKER_04 35:36

Anyway, that's wonderful. So for the for the millions out there that are listening, just tap uh tap yourself on the back. What a what a what a finite year it's been. You should be proud of what you've achieved. Absolutely. Uh, and to some extent, if you're in that mindset, clear the whiteboard one July. It's a new year. New new or Hario Day shoot goals or smooth, silky targets, whatever it is you'd like to go for.

SPEAKER_06 35:55

Smooth, silky targets.

SPEAKER_04 35:56

Uh and you know, let's see what the year might bring. Could bring a lot of change, could bring some compliance, could bring a lot of fun. Um, you make it what you want to make it and have a lot of fun with it whilst you do it. Love that. Cool.

SPEAKER_01 36:05

Happy to join. Thanks, guys. Thanks, guys. Bye bye.

SPEAKER_04 36:18

Wasn't that a fun adventure, my friends? Thank you so much. So incredibly much for hanging out with us today. Ali, you've been amazing. Andrew, you've been alright. How good is it to be able to have adventures together?

SPEAKER_00 36:30

It so is, and you know what? Keep following us. We are all over the socials at accounting adventures. Uh check us out on the website, give us a bit of a like. You know how much we love that stuff.

SPEAKER_04 36:42

The best thing about the adventure is the people that we do it with. So thank you so much for listening. Thank you so much for hanging out with us. And please bring all the ideas, keep them recoming. We can't wait to share more cool adventures with you.

SPEAKER_00 36:55

We love you guys.