SPFR to GPFR Conversion Support | Entry Counts
For Australian accounting firms

Convert SPFR to GPFR with a controlled process.

Identify transition gaps, prepare comparatives and rebuild the report in Xero under the agreed GPFR framework.

Book a free conversion review See what’s involved
500+ accounting firms helped across Australia 400+ Xero implementations since 2017
The conversion journey
STARTSPFRPrior report, policies and accounting basis
REVIEWTransitionGaps, comparatives and approved adjustments
OUTPUTGPFRMapped statements, notes and controlled review
The direct answer

What does the conversion change?

It begins with the prior signed report and ends with a controlled GPFR supported by mapped data, comparatives and relevant disclosures. The amount of work depends on the previous accounting basis.

Starting point

Existing SPFR

  • Prior policies and reporting basis
  • Signed statements and audit outcome
  • Existing Xero mapping and comparatives
Gap review
Agreed output

Controlled GPFR

  • Confirmed transition pathway
  • Approved balances and comparatives
  • Mapped statements and disclosures

Terminology: Standards generally use SPFS and GPFS for the statements. Firms also use SPFR and GPFR for the overall reports.

More than additional notes

Six areas that may change.

A report that already applied all relevant recognition and measurement requirements may follow a different pathway from one that applied them selectively.

01

Recognition and measurement

Review whether relevant requirements were applied to existing balances.

02

Consolidation

Assess group reporting and whether consolidated statements are required.

03

Comparatives

Consider opening positions, prior-period data and transition adjustments.

04

Complex balances

Review leases, financial instruments, impairment and tax.

05

Policies and judgements

Update policies, related parties and material judgements.

06

Explanations

Prepare relevant transition disclosures or reconciliations.

Agreed conversion support

What Entry Counts can handle.

Scope depends on the prior basis, data quality, reporting tier, group structure and deadline.

Transition review and preparation

  • Prior report, audit and policy review
  • Transition assumptions and gap analysis
  • Current and comparative trial balances
  • Approved journals and supporting schedules
  • Statements, notes and Tier 2 disclosures

Xero workflow and finalisation

  • Account and report-code mapping
  • GPFR template and disclosure structure
  • Transition explanations or reconciliations
  • Controlled drafts and approved changes
  • Agreed audit support and white-label delivery
A controlled workflow

From prior SPFR to reviewed GPFR.

Five steps make gaps, decisions and approvals visible.

  1. 01

    Review the previous basis

    We examine the prior statements, audit outcome, Xero file, group structure and supplied framework.

  2. 02

    Assess transition gaps

    We identify missing information, accounting issues, disclosure changes and comparative work.

  3. 03

    Prepare data and Xero

    Trial balances, mapping, schedules and approved adjustments are prepared for the GPFR.

  4. 04

    Build and review

    We prepare the report; your firm reviews the draft and confirms decisions.

  5. 05

    Finalise and support audit

    We update the agreed version and address included preparation queries.

The transition pathway

Does the conversion use AASB 1 or AASB 108?

It depends on the reporting tier, previous statements and whether all relevant recognition and measurement requirements were applied.

Possible route

AASB 1 pathway

May apply to some first-time Tier 2 transitions, depending on the entity’s reporting history.

Depends on the facts
Possible route

AASB 108 approach

May apply directly in some circumstances where AASB 1 is not used.

The entity and its advisers confirm the pathway, eligibility and policies. For Tier 2 reporting, see our AASB 1060 support.

Start with the right information

What we need—and what stays with you.

Information commonly needed

  • Prior signed statements and audit report
  • Current and comparative trial balances
  • Prior adjustments and Xero access
  • Entity structure, framework and deadline
  • Policies, schedules and audit timetable

Your firm and the entity retain

  • Legal obligation, eligibility and framework
  • Policies, estimates and approved adjustments
  • Complete source information
  • Final approval, signing and lodgement
  • Independent audit or review opinion
A reusable reporting platform

Can SPFR be converted to GPFR in Xero?

Yes. Xero can hold mapped statements, comparatives, notes and reusable templates—but it does not determine compliance.

Learn more about GPFR in Xero →
Mapped balancesConnect the trial balance to the GPFR structure.
ComparativesBring current and prior-period data into review.
Relevant notesBuild policies and disclosure structures.
Reusable processConvert one report or prepare for future periods.
Pricing

Clear scope before work begins.

After a short review, we confirm the responsibilities, deliverables, timing and fee.

Book a free conversion review

What shapes the proposal

Reporting tier Prior accounting basis Data quality Comparatives Disclosures Consolidation Audit support Deadline
Frequently asked questions

Quick answers about SPFR to GPFR conversion.

Still assessing the transition?

Ask Donnie about the conversion →
Are SPFR and SPFS the same thing?

They commonly describe the same report. Standards generally use SPFS; the same distinction applies to GPFR and GPFS.

Is conversion just a matter of adding more notes?

Not always. It may also affect recognition, measurement, consolidation, balances, comparatives and policies.

Can Entry Counts decide whether a client must prepare GPFR?

We document the supplied basis and flag issues. The entity and its advisers decide the obligation, eligibility and framework.

Can Entry Counts convert an existing Xero report template?

Yes. We can adapt the current setup or build a more suitable GPFR structure.

Will comparative figures need to change?

Possibly. It depends on the pathway, prior accounting basis and applicable requirements.

Does Entry Counts audit or lodge the GPFR?

No. An independent auditor provides assurance, and an authorised party completes lodgement.

Can the conversion remain white-label?

Yes. Delivery, communication and file exchange can remain behind your firm.

Move the report forward

Start with a clear transition plan.

Convert one report or build a repeatable GPFR process in Xero while your firm keeps the client relationship.

Book your free conversion review Free initial review · Clear next steps · No obligation