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tech
compliance is not dead, it’s evolving
personal education is key.
by seth fineberg
accounting firm operations and technology survey
for all of the talk of automation taking away basic accounting work and the bell tolling for any practitioner not moving toward more advisory work, the fact is compliance is not going away.
if anything, the evolution of technology has made compliance work easier – and i dare say more profitable – for particularly small accounting firms that rely on this work as an annuity, their “bread and butter” if you will. the point is, and particularly for the small firms that make up the majority of the accounting profession, compliance is not going away but it is evolving.
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why your firm needs procedure manuals
make sure you include all steps.
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: beyond email: new digital tools | why scanning procedures matter | using databases for document management | survey: firms split on mobile device management | need internet? grab your phone | survey: im still not common at cpa firms
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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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beyond email: new digital tools
the top 3 remote screen control tools to help clients.
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: why scanning procedures matter | digital tax workflow requires a system, not projects | survey: 60% of firms employ remote access tools | collaboration should tie in messaging
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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why scanning procedures matter
cpas’ top picks: fujitsu fi and canon dr.
by roman h. kepczyk
quantum of paperless
for the next few years, it is anticipated that accounting firm clients will continue to deliver a significant amount of their organizers and supporting tax documents to the firm in a physical format. to utilize this information in a paperless environment, it must be effectively scanned and managed at the lowest possible cost.
more: digital tax workflow requires a system, not projects | who deletes documents and when? | capture firm knowledge on an intranet | survey: how many firms back up data to the internet? | the new risks in cloud efficiencies | survey: how many firms use unified messaging? | is it time to update your offsite backups?
early paperless adopters scanned the tax return and the supporting documents at the back end of the process when a return was complete. this is still usually the first step when firms transition from a completely manual environment.
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digital tax workflow requires a system, not projects
why the difference matters.
by roman h. kepczyk
quantum of paperless
the most important aspect of transitioning the firm’s tax process to a digital environment is managing electronic files that are no longer physically viewable in assorted stacks around the office. this requires a digital tax workflow system that lets everyone know the status of every return and easily connects that person to digital copies of the return and the source documents.
more: who deletes documents and when? | using databases for document management | survey: firms split on mobile device management | need internet? grab your phone | survey: im still not common at cpa firms | the best defense against malware
under traditional manual tax systems, firms utilized due date tracking databases that identified when a return was due, but not what information was missing, or the preparation, review or extension status, which was often recorded manually on a physical routing sheet.
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automation and the future of accounting
how one firm uses bots to its advantage.
by jody grunden
there’s no doubt that advancements in technology are changing the world, and the accounting industry is no exception. technology is making us more productive, more efficient and more connected.
more: do you want to be a virtual cfo? | the only three metrics you need to measure staffers
on the flip side, it’s also taking over some of our jobs. this is a reality in the accounting industry that we cannot ignore. technology is driving major changes for the future of the accounting world. we need to be aware of what’s happening and take strategic steps to advance along with these changes. otherwise, we are going to be left in the dust.
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who deletes documents and when?
like everything else in your practice, document retention needs a system.
by roman h. kepczyk
quantum of paperless
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: survey: 60% of firms employ remote access tools | capture firm knowledge on an intranet | survey: how many firms back up data to the internet? | the new risks in cloud efficiencies
unfortunately, as digital files are on the network and “out of sight,” many firms are not really aware of what files are stored, the most current versions and whether or not they should be deleted.
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using databases for document management
many have integrated portals for transferring files to clients.
by roman h. kepczyk
quantum of paperless
the network drive in most firms is not very well organized and requires the most cleanup. this happens because it is usually managed with microsoft windows explorer, which allows almost anyone to create or access a file anywhere on the drive.
more: survey: 60% of firms employ remote access tools | capture firm knowledge on an intranet | survey: how many firms back up data to the internet? | the new risks in cloud efficiencies | survey: how many firms use unified messaging? | be careful with microsoft office upgrades | survey: have you dumped manual invoices yet?
unfortunately, there is seldom a firm standard that is adhered to, allowing users to create files with any naming convention they want and store it anywhere they choose. the result can be files that are hard to find and slow to search across the network.
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survey: 60% of firms employ remote access tools
accountants’ favorite app: gotomeeting.
capture firm knowledge on an intranet
dashboards may speed up the search process.
by roman h. kepczyk
quantum of paperless
firm knowledge and information is usually stored in one of four “buckets.”
more: survey: firms split on mobile device management | collaboration should tie in messaging | survey: nearly half of firms use videoconferencing | plan right for remote access | survey: only 32% of firms providing non-phone devices | jumping to windows 10
the most obvious is within the accounting applications themselves where tax, audit and accounting programs store client files in a format that can only be accessed with that program. files are usually indexed and accessed in designated directories so there is not much the firm can do about moving these files.
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survey: firms split on mobile device management
has your firm implemented a mobile device management application to secure your mobile devices and access to the firm’s network?
survey: centralized scanning on the upswing
trend watch: there is a notable shift toward centralized scanning.
accounting firm operations and technology survey