How to choose the right accounting practice management software

Accounting practice management software is designed to help accounting firm owners run their practice more efficiently and improve their business performance.

Accounting practice management software helps solve common challenges such as resourcing or capacity planning, job scheduling & prioritisation, managing and monitoring job progress, reducing WIP and debtor lock-up and identifying areas for improvement across the business, such as opportunities to enhance billings.

What is accounting practice management software?

Accounting practice management software enables firms to easily organise, assign and track jobs, manage time budgets, billing and invoicing, maximise resource utilisation and enable efficient client communication – even with team members working remotely. Practice management software also enables a ‘centralised source of truth’ for all your client information, so that you can easily find all documents, tax returns, emails relating to a job or client.

Practice Management software should help:
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1. Avoid bottlenecks with better forecasting and resourcing
2. Enable automation and transparency across all jobs
3. Simplify billing and invoicing clients
4. Centralise data for firm-wide reporting with up-to-date insights
5. Minimise administration work to maximise billable hours

Choosing the right practice management solution is critical to gaining a competitive edge. The right cloud solution helps you and your people improve productivity and reduce costs, making your firm more profitable.

This Buyers Guide shares the critical features and functionality to assess to help you make the most appropriate software choice for your accounting firm.

Wolters Kluwer is a leader in guiding accounting and tax firms through digital transformation. Across Asia Pacific, Wolters Kluwer inspires productivity, innovation and collaboration through CCH iFirm solutions.

CCH iFirm is a unified cloud-based platform providing an integrated software suite designed specifically for accountants. The CCH iFirm suite helps accounting firms run and grow their practice through deeply integrated modules, increasing automation and productivity. The solutions include: Cloud Tax (for ATO and Inland Revenue lodgments), Practice Manager, Intranet, Portal, Document Manager, Billing, Resource & Capacity Planning, CRM, Workflow Automation, Reporting, and much more.

As the first to market with cloud solutions, we deliver business insights and intelligence tools, information and software to some of the region’s most successful firms. With the integrity and accuracy of over 50 years’ experience in Australia and New Zealand and over 175 years internationally, Wolters Kluwer is committed to raising the bar for software, knowledge, tools and education.