technology

firms need a ‘learning culture’ to stay current

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businesswoman at desktop computertraining has to be given chargeable credit.

by roman h. kepczyk
quantum of paperless

for many firms, the ability to identify, standardize and implement best practices is the last remaining competitive advantage in business today as communications tools and access to technology have become available to everyone.

more on tech spending: standardize quickbooks support for clients | automating bank deposits offers instant roi | how to ‘go digital’ when partners demand monthly p&ls on paper | digital tools streamline audit production | tech tools for today’s properly equipped field audit teams | how to cut tax prep costs with scanners | making digital tax process easier is all about the workflow | why firms need document retention standards | intranet is the best place for firm knowledge | new tech tools for the 24/7 accounting firm | the single best defense against computer viruses | how to choose the right backup system | where laptops rule at cpa firms today | step 1 in building the paperless firm: scanners

to take advantage of the continuous stream of innovation and opportunities, firms must adopt a “learning culture.” this requires a formal process to capture and standardize best practices in every department within the firm so that every person can take advantage of them.

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who’s minding your client contact information?

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synchronizing data from a tabletleading firms are centralizing client contact updates for consistency, efficiency, security.

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 on tech spending: standardize quickbooks support for clients | how to choose the right client portal solution | streamlining bill-paying at cpa firms | digital tools streamline audit production | accounting firms run on more than checklists alone | going paperless means convincing clients first | making digital tax process easier is all about the workflow | why firms need document retention standards | new tech tools for the 24/7 accounting firm | the single best defense against computer viruses | how to choose the right backup system | how to know it’s time to scrap your old server

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. read more →

walking the walk with a radical cpa

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broken chainget real. get up from your desk. go for a ‘gemba’ walk.

by tom hood
the radical cpa

i remember sending a video intro to jody padar’s first meeting of ic opportunities where i read a quote from the february 2012 edition of fast company magazine in which the editor, robert safian, intro­duced the concept of “generation flux” and it reminded me of jody and her tribe:

tom hood
hood

“in our hyper-networked, mobile, social, global world, the rules and plans of yesterday are increasingly under pressure; the enterprises and individuals that will thrive will be those willing to adapt and iterate, in a disciplined, unsen­timental way… generation flux is a term that describes all of this — the chaotic business era that we have moved into — as well as the people who are poised to thrive in this environment.”

so what is a “gemba walk,” you might be thinking? read more →

standardize quickbooks support for clients

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word "license" on word cloudlicensing can get expensive.

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: how to choose the right client portal solution | streamlining bill-paying at cpa firms | digital tools streamline audit production | making digital tax process easier is all about the workflow | when to adopt microsoft’s new office apps | what windows 8 means for how accountants will work in the future | how to choose the right backup system | how to know it’s time to scrap your old server

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.
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social business: how new communication tools are revolutionizing the accounting profession

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william r. pirolli, cpa/cff/pfs, cgma email vcard bill is a partner with over 30 years of experience in public accounting. bill was formerly managing principal for the accounting firm of pirolli, deller & conaty.
pirolli

and yet, the heart of the cpa business remains a constant.

by william r. pirolli, cpa, cff, pfs, cgma
the radical cpa: new rules for the future-ready firm

at the heart of our profession are people… connecting with people. the human connection to the information we deal with is what makes our profession so personal and rewarding. it should always be at the heart of what we do.

the ways we connect have changed dramatically over time. while we all still use the telephone, fax, face-to-face meetings and the occasional written note, the invasion of facebook, linkedin, twitter, skype, youtube, instagram, cloud-based services and that smartphone or tablet you might be reading this on all serve to make our communications and services immediate, exponential and virtually limitless. read more →

how to choose the right client portal solution

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computer security concept shot, with binary code and password textmost firms already have. what’s holding the rest back?

by roman h. kepczyk
quantum of paperless

many firms have emailed clients copies of tax returns and financial statements over the years. unfortunately, this is not 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.

more on tech spending: automating bank deposits offers instant roi | how to ‘go digital’ when partners demand monthly p&ls on paper | digital tools streamline audit production | tech tools for today’s properly equipped field audit teams | going paperless means convincing clients first | intranet is the best place for firm knowledge | new tech tools for the 24/7 accounting firm | how to choose the right backup system | how to know it’s time to scrap your old server | where laptops rule at cpa firms today | step 1 in building the paperless firm: scanners

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

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identity theft: clients wonder if they can trust their accountants

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click for infographic
click for infographic

the do’s and don’ts clients should hear from you first.

by rick telberg
卡塔尔世界杯常规比赛时间

americans were already afraid of identity thefts involving big companies like target, sony and anthem blue cross.

now the fear and distrust is starting to infect tax and accounting firms.

taxpayers using professional tax preparers are increasingly worrying about the security of their personal financial information, up 6 percentage points from last year, according to 卡塔尔世界杯常规比赛时间 sources.

six percentage points may not sound like much, but when it’s a 40% growth rate. at that pace, if unchecked, next year 29% of clients would need reassurances.

the big data breaches are already legion — target, sony, anthem blue cross. but when taxpayers start to suspect the security at cpa firms and professional tax preparation companies, the profession has a problem. and it’s a fundamental and growing problem.

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streamlining bill-paying at cpa firms

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woman entering credit card information on laptopa dedicated credit card is the solution.

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: automating bank deposits offers instant roi | digital tools streamline audit production | tech tools for today’s properly equipped field audit teams | why firms need document retention standards | digital fax has benefits you may be ignoring | new tech tools for the 24/7 accounting firm | the single best defense against computer viruses | how to choose the right backup system | how to know it’s time to scrap your old server | where laptops rule at cpa firms today | step 1 in building the paperless firm: scanners

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. read more →

automating bank deposits offers instant roi

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businessman carrying piggy bank up rocky hill at nightmanual processing takes 130 hours a year but 63% of firms have found a better way.

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.

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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how to ‘go digital’ when partners demand monthly p&ls on paper?

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technology security with internet digital signature as artwhy 75% of multi-owner firms have already gone to online monthly financial reports.

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.

too 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 their office. read more →

the 3 reasons firms are migrating to digital timesheets

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stopwatch on budget numbers in blue toningbut staffers need convincing and partners are still the biggest slackers.

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.

as many as 32 percent of firms today are still using manual billing sheets, while the rest of the industry is preparing the majority of invoices on screen, according to a survey of 300 multi-owner firms.

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digital tools streamline audit production

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businessman is examining document and woman is working on laptop computer in backgroundsay good-bye to your old friend “saly”

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 on tech spending: tech tools for today’s properly equipped field audit teams | accounting firms run on more than checklists alone | going paperless means convincing clients first | how to cut tax prep costs with scanners | making digital tax process easier is all about the workflow | why firms need document retention standards | is your network drive a disaster waiting to happen? | intranet is the best place for firm knowledge | digital fax has benefits you may be ignoring

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. read more →