Why use a practice management software
Practice management software is essential to run an efficient and profitable practice.
Why upgrade to cloud accounting as part of your practice management software?
Cloud-based accounting software is essential to providing remote access to staff – whether it is to enable work from home flexibility or provide onsite access to client information or documents when meeting with clients at their office. Cloud software is updated automatically, it can be easier to scale and grow and it also offers enhanced security compared to files laying around your office. There can also be reduced costs associated with maintaining your owner server.
What are the features of an accounting practice management software
Essential components in any accounting practice management software include compliance workflow, firm management such as billing, reporting and document management, and finally client engagement tools.
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Accounting Firm Management Software
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Document Management Software
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Client Accounting Software
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Workflow Management Software
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Digital Signature Software
Accounting firm management software
Reduce administration time, gain a 360-degree view of your business with the right firm management software.
How to choose the best accounting firm management software
The best accounting firm management software should help firms avoid bottlenecks with better forecasting and resourcing, enable automation and transparency across all jobs, simplify billing and invoicing clients, centralise data for firm-wide reporting and minimise administration work to maximise billable hours.
It’s essential to consider a 100% cloud solution with a robust jobs management system that also integrates seamlessly with your document management, client communication and even your compliance software.
Software Solutions:
Document management software
No more filing cabinets and piles of paper. With a cloud-based document management system, it’s easier to store and access all important client documents.
How to choose the best document management software
Look for an integrated cloud-based solution with a good reputation for security, and storage of files local to your region. Other key features include easy file retrieval features and organisation structures, version history, automation, PDF editing, compliance with legal requirements, scalability, as well as tailored training and onboarding.
Software Solutions:
Client accounting software
A good client accounting solution can help accountants complete financial statements faster.
How to choose the best client accounting software
Client accounting software should offer a streamline workflow with seamless data sync to your Tax preparation and lodgement software, as well as Workpapers. Ensure you find a solution which is flexible and compatible across platforms, with intelligent and intuitive navigation, robust master report templates as well as the ability to create your own reports.
Software Solutions:
Workflow management software
Workflow management software for accountants is designed to streamline and automate the various tasks and processes involved in an accounting firm.
How to choose the best workflow management software
Workflow management software helps to organise tasks, processes and procedures into more streamlined and automated workflows. For example, can you automate reminders for signature on documents, set up recurring jobs, ensure a set process or checklist for review of Workpapers. These are all essential workflow management features.
Software Solutions:
Digital signature software
As more accounting firms work remotely with clients, it’s important to have a tool that enables your clients to sign documents online securely.
How to choose the best digital signature software
The best digital signature software has robust security features like encryption and compliance with legal standards. Look for software that integrates seamlessly with your existing accounting software (such as the ability to ‘send to portal/ e-sign directly from your Tax software) and has automated reminders and tracking. Remember, accounting firms may not need a full bells and whistles solution with an expensive price tag. Solutions that charge per envelope vs per signature will provide a more cost effective option.
Software Solutions:
Wolters Kluwer’s practice management software
The award-winning CCH iFirm built for your accounting firm management and CCH Entities built for trust and company administration. Utilise either of these premium solutions for an integrated practice management and compliance software experience whilst maximising billable hours and unlock efficiencies.
CCH iFirm suite
CCH iFirm is an award-winning cloud-based software suite designed to enhance your accounting practice management, compliance, and client engagement.
Leveraging the tax and accounting expertise of Wolters Kluwer, CCH iFirm offers a streamlined workflow with interconnected modules that simplify job management, billing, document handling, tax preparation and lodgement, and client communication.
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Accounting practice management software expert insights
Explore our range of expert insights to help you run your business better.
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Accounting practice management software case studies
CCH iFirm Practice Manager is delivering tangible ROI to our customers, every day.
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Case studyTax & AccountingAugust 07, 2024
CCH iFirm enables smooth business operations for Forward Accounting
"We like CCH iFirm because with one integrated platform, you get a client-focussed view, with all your client information in the one place." - Tania Garbes, Director & Chartered Accountant, Forward Accounting NZ Ltd. -
Case studyTax & AccountingJuly 04, 2024
CCH iFirm supports long-term firm growth of Numb1z Limited
"CCH iFirm has grown with our firm and has helped us manage the increasing volume of tax filings, which has significantly expanded over the years." - Moira Robertson-Brown, Director, Numb1z -
Case studyTax & AccountingJune 26, 2024
CCH iFirm enables improved workflow management for RCB Advisors
"CCH iFirm offers a very good solution to the accounting profession ‘under one roof’." - Rajesh Chawla, Director, RCB Advisors -
Case studyTax & AccountingJune 21, 2024
CCH iFirm Workpapers enables efficiency, accuracy and data integrity
"CCH iFirm Workpapers has exceeded my expectations. For anyone using CCH iFirm ledger [Client Accounting] and Tax I can’t see why you wouldn’t use these workpapers and start automating your compliance processes." - Tyler Wise, Director, DFIA
Frequently asked questions about practice management software
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Q: What is practice management software in accounting?A: Practice management software in accounting is a tool that helps firms streamline their operations, manage client relationships, and ensure compliance through integrated features for tasks like jobs management, billing, document management, and workflow automation.
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Q: What does practice management software do?A: Practice management software enables firms to input timesheets, manage jobs, priorities and status, manage debtors and WIP lock-up and reporting.
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Q: What is the purpose of practice management software?A: The purpose of practice management software is to manage business operations of an accounting practice including client CRM or contacts, their associated jobs, documents, invoices and reporting on business performance.
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Q: How much does accounting practice management software cost?A: Cloud-based accounting practice management software is typically charged on a license per user fee system, which can differ depending on the size of your firm and whether it is bundled with other integrated software such as a document management system, portal, client accounting, workpapers or tax prep.
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Q: How to choose the best practice management software?A: Look for robust features and functionality, customization, ongoing training and local support as well as job scheduling and capacity planning features.
Contact a practice management software consultant
Complete the form to learn more about Wolters Kluwer (CCH) practice management solutions.