technology

portals, encryption vital to securing client documents

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keys against background of datapasswords? not enough; those can be removed.

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: survey: cch tops audit solutions | make your accounts payable digital | survey: 62% of field auditors use multiple monitors | enter t&e daily | survey: firms divided on esignatures | firms need ‘best practices’ manuals | telling clients: go digital, or just go
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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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make your accounts payable digital

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woman entering credit card information on laptoplook for cash rebates.

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: remote deposit saves 130 hours per year | survey: 76% of auditors rely heavily on remote access | enter t&e daily | survey: firms divided on esignatures | firms need ‘best practices’ manuals
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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.
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remote deposit saves 130 hours per year

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person writing check with pen and checkbookuse enough services and your fees will fall.

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: survey: 76% of auditors rely heavily on remote access | digital swap stems ‘overauditing’ | survey: vertical monitors not the norm yet | survey: 53% of firms deliver tax returns digitally | why a digital tax workflow system is vital
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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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going 100% digital

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senior businesswoman using tablet and desktop computerspssst … here’s a way to get owners comfortable with portals.

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: enter t&e daily | survey: 62% link audit, tax software | digital swap stems ‘overauditing’ | optimize scanning procedures | why a digital tax workflow system is vital | how long do you need that file?
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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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blockchain: what you need to know now

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20 key concepts for now. 5 key questions for the future.

by hitendra patil
accountaneur

social media. big data. automation. artificial intelligence. machine learning. there is already a lot of technological impact on the accounting profession. now comes blockchain.

more: the what, why and how of artificial intelligence for accountants | the client of the future | the rise of the robot accountant: opportunity or threat? | six never-before opportunities for the accounting profession | urgently required: a new definition of accounting | certified blockchain accountant: from cpa to cba
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as a cpa, should you worry about blockchain? let’s examine.

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enter t&e daily

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scale with coins on one side, alarm clock on the otherbilling? that can be done daily, 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 that is sent out with the completion of each billable project.

more: survey: 62% link audit, tax software | digital swap stems ‘overauditing’ | survey: vertical monitors not the norm yet | survey: 53% of firms deliver tax returns digitally | why a digital tax workflow system is vital | survey: cpa firms split on ocr for tax scanning
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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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