here’s what you’re looking for: roman h. kepczyk

how many versions do you support … and why?

by roman h. kepczyk
quantum of paperless

in the united states, quickbooks is the most dominant small business accounting product on the market and will be the application that the majority of the firm’s clients use. therefore, it is obvious that the firm must become proficient with supporting quickbooks.

more on tech spending: portals are vital for secure file transfer | why you should process ap digitally | revamp daily t&e entry | is your tax workflow digital yet? | the 4 types of firm knowledge
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unfortunately, one of the biggest wastes of time is when firms support too many older versions of the software, which often leads to incompatibilities that can corrupt the database and make it unusable for clients. fixing these errors creates lost time that is seldom charged to clients and instead impacts the profitability on these jobs. firms have found that it is significantly more productive to support no more than the three most recent versions and to either require the client to update their software or include the cost within the monthly service fee.
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look for notifications and audit trails.

by roman h. kepczyk
quantum of paperless

when dealing with digital files, the most effective way to transfer them is electronically over the internet either with secured email or through a portal.

more on tech spending: why you should process ap digitally | remote banking offers instant roi | how to stop ‘overauditing’ | devil’s in the details of digital file delivery | preventing document retention headaches | which wireless? | remote access takes planning | transitioning to windows 10
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many firms have emailed clients copies of tax returns and financial statements over the years. unfortunately, this is not always the most secure method as the firm does not have control of the various internet service providers and the relay servers between the firm’s email server and the client’s email account.
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don’t forget to use naming conventions.

by roman h. kepczyk
quantum of paperless

processing accounts payable is another of the manually intensive processes within the firm’s administrative department that can be significantly streamlined through digital processes.

more on tech spending: remote banking offers instant roi | deliver all reports digitally |  how audit field equipment has changed | optimize scanning applications and procedures | document management requires firm standards | why unified messaging matters | get in front of application updates | why you need offsite backup | use scanners to capture source documents
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consider how many “touches” a single payable creates: receipt of the invoice, timing of payment in a folder, writing the check and attaching the stub, sending it to an owner for signature, filing a copy of check with backup in its own folder, and stuffing, sealing and sending the check to the vendor. now imagine doing this a hundred times per month, every month. imagine the volume of physical accounts payable vendor files both onsite and in storage, that can be eliminated by storing these images digitally.
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bonus: your bank fees may decrease.

by roman h. kepczyk
quantum of paperless

one of the easiest processes to convert to paperless with an immediate roi is the firm’s system for depositing client checks.

more on tech spending: deliver all reports digitally | revamp daily t&e entry | how and why to establish firm procedures manuals | is your tax workflow digital yet? | the 4 types of firm knowledge | back up your bandwidth
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manually receiving and physically going to the bank to deposit checks can be time-consuming and subject to too many errors. the manual procedure requires firms open mail on a daily basis, make copies to file in a binder, complete deposit slips and then send a person physically to the bank, which can easily take a half hour every day, five days per week, 52 weeks per year.
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when owners use portals, they’ll feel comfortable recommending them to clients.

by roman h. kepczyk
quantum of paperless

improving firm efficiency means that the owners have to get on board.

more on tech spending: revamp daily t&e entry | how to stop ‘overauditing’ | devil’s in the details of digital file delivery | preventing document retention headaches | which wireless?
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one of the more obvious opportunities is the delivery of the firm’s own financial reports. many firms still print a hard copy of the monthly financials and distribute them to each owner, many of whom physically store these documents in a binder or drawer in their office.
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commitment has to come from the owner, not just staff.

by roman h. kepczyk
quantum of paperless

studies done over the past two decades have clearly shown that there is a significant improvement in realization for firms that enter, release and post time and expenses on a daily basis. this process allows for daily or “hotel”-type billing that is sent out with the completion of each billable project.

more on tech spending: how to stop ‘overauditing’ | how audit field equipment has changed | optimize scanning applications and procedures | document management requires firm standards | why unified messaging matters
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the next step in the evolution of time and billing systems provided real-time dashboards to report on firm activities and effectively allow firms to generate invoices. this can work only if all time and expenses for all personnel are captured within the system.
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it’s institutional knowledge; keep it in the institution.

by roman h. kepczyk
quantum of paperless

every firm has accountants who are 10 percent, 20 percent or even 50 percent more productive in their departments than other personnel because they have simply “figured it out.” unfortunately, when these people leave the firm, their unique knowledge of specific processes and shortcuts goes with them.

more on tech spending: devil’s in the details of digital file delivery | optimize scanning applications and procedures | document management requires firm standards | why unified messaging matters | get in front of application updates
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it is the responsibility of firms to capture these individuals’ best practices so that that specific knowledge can be shared and accessed by all firm members, both now and in the future. this can be accomplished by making a concerted effort to develop a best practices manual within each department.
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some client education likely will be in order.

by roman h. kepczyk
quantum of paperless

one of the most critical steps in transitioning a firm to a paperless environment is capturing information in a digital format at its root source as that information enters the firm.

more on tech spending: optimize scanning applications and procedures | is your tax workflow digital yet? | the 4 types of firm knowledge | back up your bandwidth | how to choose which microsoft office version to use | time to replace a server? consider the cloud | monitor real estate: more is better
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at the base level, this means having clients provide you information in a digital format, which can be done via email, digital fax or through a portal rather than with a physical document. while email is currently the most prevalent tool utilized by clients, it is anticipated the security concerns will help clients transition toward portals.
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software will flag potential errors right off the bat.

by roman h. kepczyk

for the next few years it is anticipated that accounting firm clients will deliver the majority of their organizers and supporting tax documents to the firm in a physical format.

more on tech spending: is your tax workflow digital yet? | preventing document retention headaches | which wireless? | remote access takes planning | transitioning to windows 10 | desktops vs. laptops

to utilize this information in a paperless environment, it must be effectively scanned and managed at the lowest possible cost.
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be sure to set expiration dates.

by roman h. kepczyk

managing digital files is in many ways similar to managing paper files in that the firm must have standards for who can

• create a document,
• add to or edit a document,
• file it and eventually
• purge the file.

more on tech spending: document management requires firm standards | back up your bandwidth | how to choose which microsoft office version to use | time to replace a server? consider the cloud | monitor real estate: more is better | why you need an independent security review

 

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