QuickBooks Practice Manager
What is QuickBooks Practice Manager?
QuickBooks Practice Manager is the new leading practice management solution just launched by the accounting software company. It is oriented to small and larger accounting firms that use QuickBooks as their preferred accounting solution for their clients. It will provide deep integration with QuickBooks for Accountants and QuickBooks Online, as well as providing everything to manage clients, deadlines, workflow, email and their team in one easy-to-use app.
QuickBooks Practice Manager is now available to a reduced number of clients through its closed Beta, and aims to launch to all its customers by Summer 2023.
Xama compliance integration in QuickBooks Practice Manager
The integration between Xama and Practice Manager allows Practice Manager users to seamlessly keep track of their client list and all related AML compliance in Xama.
When a client or contact is created within Practice Manager, you will immediately see the same in Xama, ready to perform onboarding steps and AML checks.
As you perform identity verification steps and the client risk assessments in Xama, the status of these are automatically synced to Practice Manager, making it easy for all staff to track the progress of onboarding and ongoing compliance.
What's more is that any Practice Manager user who integrates the Xama platform into Practice Manager will qualify for an automatic 20% discount on our usual rates. You will gain the following functions, available straight from a contact record within Practice Manager.
Document collection verification
Send a request to your customer from where they can securely submit their home address and upload their identity documents. Xama will verify any documents that are submitted and extract relevant information for completing anti money laundering checks without having to do any data entry!
Total Cost: £2.00
Easily perform AML checks on your contacts from within Xama. These include identity verification as well as PEP and Sanctions screening.
The status of AML checks are synced back to Practice Manager so that you can easily track the progress of onboarding.
Total Cost: £1.60
Gain access to comprehensive company reports on a pay as you go basis.
Company reports can be extremely useful in determining beneficial owners but also helps with KYC compliance as it includes trading history and any negative information, such as CCJs.
Total Cost: £3.20
Getting Started with Practice Manager and Xama
Getting started with Xama in Practice manager is simple, quick and free. Here is what you need to do.
Implementation consists of the following steps, and you can get going straight away:
- First, sign up for a free Xama account by visiting the registration page.
- In Practice Manager, navigate to ‘Settings’ and ‘Integrations’, and click on the icon in the Xama box to view the details for the Xama integration. You will need your Secret API Key and your Company Key to connect to Xama.
- Once you have these details, return to your Xama account and click on the ‘Gear’ icon on the top right corner of the page to access the ‘Settings’ page.
- In the left navigation, under ‘Integrations’, click on ‘Hub Apps’ and select ‘Connect’ next to QuickBooks Practice Manager from within the list.
- Use the Secret API Key and the Company Key from Practice Manager to complete the connection.
- Next, match your client types in Practice Manager to the client types in Xama. For example, if you have a client type in Practice Manager that is a sole trader, this will map to an individual within Xama.
- The final step is to click on ‘Import clients and contacts’, which will bring all your clients through as well as the contacts that are connected. This can take up to a few minutes. Please note that you can only do this step every 24 hours.
The below video describes in detail the steps which you can follow to set up the Practice Manager to Xama integration.