survey: your top tech problem?
security ranks first. workflow comes next.
by randy johnston and brian tankersley
the accounting firm operations and technology survey
tech and fintech
deliver internal reports digitally
yes, even to the owners.
by roman h. kepczyk
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. 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.
more: why daily t/e entry matters | the case for digital auditing | teach your clients to send info digitally | the 4 buckets of firm knowledge | internet bandwidth: how much is enough? | why you need windows 10 with automatic updates | laptops vs. desktops
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most firms consider these documents confidential and yet copies are distributed throughout the office, many of which are not secured. a better solution is to set up an “owner’s drawer” on the firm’s portal or document management system and post one copy of the monthly financial statements when they are ready.
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survey: if only we had time for …
sure, relaxing, but prospecting and professional development are right up there.
by randy johnston and brian tankersley
the accounting firm operations and technology survey
why daily t/e entry matters
how about better cash collection?
by roman h. kepczyk
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: the case for digital auditing | what your auditors need in the field | why you want a digital tax workflow system | why digital communications matter | the right tech tools for covid work-from-home | it’s 10 p.m. do you know where your backups are? | the best scanners to buy today
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. this can work only if all time and expenses for all personnel are captured within the system. while most firms have a daily time entry “policy,” the biggest abusers of the policy are often owners and managers, so it is about time for them to get on board and use the system.
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be more efficient with tech stacks
standardizing also makes you better connected.
by jody grunden
building the virtual cfo firm in the cloud
i believe it’s important for accounting firms to standardize their technology “stack.” having a standardized tech stack of applications helps to automate every corner of your workflow.
more: put bots to work for you | not all employees want the same perks | what running a virtual cpa firm really costs | give your leadership team time to lead | hate billing? use a different method | use bots to your advantage
the applications you use should be seen as an extension of your business. your onboarding process will be more effective if your team doesn’t have to learn a new set of tools every time a new client comes on board.
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survey: where do you get clients?
can you say “referrals”?
by randy johnston and brian tankersley
the accounting firm operations and technology survey
the case for digital auditing
it’s time for some outside help.
by roman h. kepczyk
traditional audit practices use the previous year’s audit programs and processes updated for the current year as their standard operating plan. 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.
more: what your auditors need in the field | the value of firm procedures manuals | retaining documents: how long and who decides? | the case for wireless broadband access | maximize your office 365 roi | how the cloud impacts server replacement
many firms have rightfully transitioned to digital “document container” applications such as caseware, wolterskluwer/cch engagement and thomson reuters engagement cs. not all of these firms have changed their approach to reviewing progress on the audit and the financial reporting on a computer screen in a digital format.
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put bots to work for you
how one firm does it.
by jody grunden
building the virtual cfo firm in the cloud
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: not all employees want the same perks | not all employees will work out | learning to love video calls | be more effective remotely with disc | protect client files from cyberthreats | get ready to launch virtual cfo services | riches in niches
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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survey: what is the hardest part of your job?
recruiting remains the sorest spot.
by randy johnston and brian tankersley
the accounting firm operations and technology survey
what your auditors need in the field
twain compliance dictates some choices.
by roman h. kepczyk
the advent of today’s audit “document container” applications has transitioned every aspect of audit production into a digital format. the key to successfully using these engagement applications is to make sure your personnel have the optimal equipment with them to work digitally.
more: the value of firm procedures manuals | teach your clients to send info digitally | the 4 buckets of firm knowledge | internet bandwidth: how much is enough? | why you need windows 10 with automatic updates | laptops vs. desktops
this includes
- multiple monitors,
- image capture equipment and
- remote communications capabilities.
blockchain implications for cpas
futurist jack shaw explains how blockchain is changing the way cpas practice.
with steven sacks
solutions to results llc
the economist magazine describes blockchain as the most important advance in business record keeping since the innovation of double-entry bookkeeping, in florence, italy in over 500 years. but now, blockchain may eventually even replace double-entry bookkeeping.
more 卡塔尔世界杯常规比赛时间 video: blockchain implications for business | the myths of performance management | how covid rewrites the rules for recruiting | the art and science of hiring: three essentials for the covid age | what’s a bot? new tech tools to boost your practice | replay: covid impact on cpa firm m&a | your competition isn’t who you think it is | replay: how to dazzle clients in the covid age |
exclusively for pro members. log in here or 2022世界杯足球排名 today.
six key takeaways
1 – we will see more business being reflected in blockchain-based transactions.
survey: business is still about taxes
the value of firm procedures manuals
where does the most potential benefit lie?
by roman h. kepczyk
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.”
more: teach your clients to send info digitally | why you want a digital tax workflow system | why digital communications matter | the right tech tools for covid work-from-home | it’s 10 p.m. do you know where your backups are? | the best scanners to buy today
unfortunately, when these people leave the firm, their unique knowledge of specific processes and shortcuts goes with them. 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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