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…by roman h. kepczyk quantum of paperless 9. tax season launches with a whimper tax practitioners say they’re ready for anything. and they may get it. by rick telberg cpa…
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centralize contact administration
your practice management application will be home base.
by roman h. kepczyk
quantum of paperless
many firms today maintain contact information within multiple applications such as practice management, outlook, tax systems, and other marketing and crm (customer relationship management) programs.
more: cutting your quickbooks costs | how to transfer files securely | going digital with a/p processing | avoid over-auditing with ‘document containers’ | beyond email: new digital tools | who deletes documents and when?
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too often, a significant amount of time is wasted in firms pulling contact information together, reconciling and verifying lists for mailings, invitations, and even organizers. it is critical that firms centralize the updating of contact information for consistency.
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cutting your quickbooks costs
are licenses getting too pricey? there’s a workaround.
by roman h. kepczyk
quantum of paperless
in the united states, quickbooks is by far 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 in supporting quickbooks.
more: how to transfer files securely | how digital a/p processing boosts productivity | how an ‘owner’s drawer’ boosts security | the top portable monitors for auditors | why scanning procedures matter
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 of these jobs.
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how to transfer files securely
portals should integrate with your workflow software.
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: how digital a/p processing boosts productivity | reclaim time with remote deposit | why daily t/e entry should be required | digital tax workflow requires a system, not projects | survey: 60% of firms employ remote access tools | collaboration should tie in messaging | the best defense against malware
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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how digital a/p processing boosts productivity
dedicate one credit card to this purpose.
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: reclaim time with remote deposit | going digital with a/p processing | avoid over-auditing with ‘document containers’ | beyond email: new digital tools | who deletes documents and when? | capture firm knowledge on an intranet
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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reclaim time with remote deposit
banks often provide the scanners.
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. manually receiving and physically going to the bank to deposit checks can be time-consuming and subject to too many errors.
more: going digital with a/p processing | how an ‘owner’s drawer’ boosts security | the top portable monitors for auditors | why scanning procedures matter | using databases for document management | survey: firms split on mobile device management
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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going digital with a/p processing
recommended action: use a special a/p credit card.
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: how an ‘owner’s drawer’ boosts security | why daily t/e entry should be required | why your firm needs procedure manuals | digital tax workflow requires a system, not projects | survey: 60% of firms employ remote access tools | collaboration should tie in messaging
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.
how an ‘owner’s drawer’ boosts security
bonus: you sneak in some training.
by roman h. kepczyk
quantum of paperless
improving firm efficiency means that the owners have to get on board. one of the more obvious opportunities is the delivery of the firm’s own financial reports.
more: why daily t/e entry should be required | avoid over-auditing with ‘document containers’ | beyond email: new digital tools | who deletes documents and when? | capture firm knowledge on an intranet | survey: how many firms back up data to the internet?
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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