CCH iQ integrates with Xero Tax to generate new levels of profitability and efficiency, allowing you to grow your practice and provide a better service to your clients!
What is CCH iQ and how does it work?
With over 300 substantial trigger events occurring each year across case law, macro-economic events, legislative changes, ATO rulings and announcements, it can become quite a burden to stay up to date with tax changes. With CCH iQ, these trigger events transform into real business opportunities.
CCH iQ’s web crawling engine works for you 24 hours a day, crawling websites that have been selected by our subject matter experts. When stories come out as they happen, our engine picks up on them right away based on keywords and phrases, recognising this as a ‘trigger event’.
As a result of this tax change, or trigger event, a client profile is created to determine which of the clients in your database will or could be potentially affected. With CCH iFirm, this process is taken to the next level with the power of ‘client match’, where CCH iQ not only tells you the types of clients affected but who the exact clients impacted in your database are.
Once CCH iQ has helped you identify the impacted clients, you also get access to all the practical tools you need to create value add service to your clients through letters, checklists, calculators, impact statements and more.
When combined with Xero Tax, client data can be updated in CCH iFirm and synchronised between the two databases, allowing you to efficiently maintain accurate data in both systems while using a combination of software solutions that best fit your business needs.
Stay Up To Date
CCH iQ combines Wolters Kluwer Tax and Accounting research expertise with best in class software. When new tax legislation triggers a “tax event,” the system will perform a search across client tax data, for those who will be impacted by the tax event.
Develop Your Opportunities
Move away from reactive compliance to proactive advisory work. You can click on the event to see a list of clients that might be affected. The system also includes a client letter that explains the change. Links to CCH iKnow
give you access to even more information and tools.
Make A Plan
With this information at your fingertips, you can reach out to affected clients and explain the impacts of a tax event . You can send the letter that CCH iQ generates, or you could invite the client to engage in a more in-depth discussion about their needs post change.
How to connect
- Connect your iFirm and Xero Tax accounts through the iFirm Integrations settings
- Sync your clients between iFirm and Xero
- Enable CCH iQ events through iFirm Integrations settings
- Tax return data will be imported from Xero
- Start seeing client matches in iQ
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