technology

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
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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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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
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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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trend watch: recruiting talent issues are back with a vengeance, while focusing on managing the practice has come to the forefront.

accounting firm operations and technology survey read more →

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?
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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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this means owners and managers, too.

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, which is sent out with the completion of each billable project.

more: avoid over-auditing with ‘document containers’ | the top portable monitors for auditors | 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 | the best defense against malware | survey: 59% deliver invoices on paper | is it time to update your offsite backups?
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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.
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two software apps to compare.

by roman h. kepczyk
quantum of paperless

traditional audit practices use the previous year’s audit programs and processes updated for the current year as their standard operating plan.

more: how to equip field auditors | 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
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eventually this can lead to a significant amount of “overauditing.” breaking this habit is difficult as every level of staff has been trained in the manual processes and falls back on them when deadlines approach.
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test out mobile monitors before buying them in bulk.

by roman h. kepczyk
quantum of paperless

the advent of today’s audit “document container” applications has transitioned every aspect of audit production into a digital format.

more: why your firm needs procedure manuals | beyond email: new digital tools | who deletes documents and when? | the new risks in cloud efficiencies
exclusively for pro members. log in here or 2022世界杯足球排名 today.

the key to successfully using these engagement applications is to make sure your personnel have the optimal equipment with them to work digitally. this includes multiple monitors, image capture equipment and remote communications capabilities.
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