December can be quieter in the accounting industry, and it is a good time to review and test new systems to make running your accounting or bookkeeping business more efficient for the coming year.
It’s easy to think we need more tools to run our practices more competently, but what’s the best combo? And do you need fewer tools, rather than more?
If you get the right mix of tech tools for your type and stage of business, you will find running your accounting or bookkeeping business more satisfying without wasting time on needless and expensive apps.
Here is what we believe a professional bookkeeping or accounting practice needs to function well. If you’re starting a professional practice, you may not need all these tools, but it’s good to keep them in mind as you grow. And if you’re well established, it’s good to review your systems now and then and to see what new tools exist (especially as AI tools proliferate), or which existing tools you could be using better.
1. A Practice Management System
Track work, assign team members to clients, customise user permissions, create job or client templates and send letters. A practice management system lets you manage all clients and tasks from one place.
2. A Workflow Management Tool
See a bird’s-eye view of your tasks and upcoming schedule; create tasks and jobs, set reminders,and sync with calendars. You want a workflow management tool that tracks tasks, lodgements, communications and syncs with the Australian Taxation Office for up-to-date client information.
3. A Proposal Process
A proposal tool helps you to engage clients, outline the scope, clarify the engagement, and provide terms and conditions and authorisation forms. If the system also includes an integrated digital signature option, it makes it effortless for the client to accept the proposal formally.
4. A CRM System
A client relationship management system can vary from simple to sophisticated. Still, it should include client details, business information, preferences, personal notes, offers, inclusions and exclusions, and provide an audit trail of each client’s interactions and jobs.
5. A Document Management System
Bookkeeping and accounting can require a lot of different documents, spreadsheets and reports, that you need to be able to access quickly and store securely. Choose an online system that offers tight security, version tracking and audit logs for all activity.
Bonus! Authenticated Digital Signatures
There’s no excuse for not using digital signatures that provide authentication and a digital log to prevent fraud. GovReports has provided this solution for 15 years, and its security has never been compromised! If you’re not already using it, set up your digital signature now and simplify the client signature process.
So, How Does GovReports Rate?
What we offer:
- Get up and running in minutes; no laborious setup or training required.
- Use anywhere, anytime on any browser.
- Create letters, proposals, email templates, task lists, and jobs for clients.
- Create practice-specific documents, such as your Quality Management System.
- Track all activity related to a compliance lodgement, from creation to emailing to signing and ATO lodgement. Each report has its own audit trail history tab.
- Sync with the ATO in real time.
- Integrated digital authenticated signatures.
- Practice management and workflow tools, including templates, jobs, tasks, and file attachments for each client.
- Free technical support.
- Platform reliability, international security standards and ISO 27001 accreditation.
- Customisable practice dashboard and a dashboard per client.
- Integration with major accounting software apps.
GovReports Makes Sense
If you run a professional bookkeeping or accounting practice and want to centralise lodgements, client management, workflow and digital signatures into a single suite, then GovReports is a cost-effective solution that is very quick to set up. It’s especially valuable if you manage a team and many clients and want to streamline workflows, reduce admin time and improve compliance.
If you run a large enterprise, talk to us as we can work with you to customise our system to your needs and provide tailored support.
If you use GovReports as your central hub, you only need to add accounting software and email to run a successful practice. As your business expands, consider pairing GovReports with other apps to build a tech toolkit that supports the best management of your bookkeeping or accounting practice and specific client needs.
You may also like to think about using an internal team communications platform, a secure client communications portal, and automation tools.
GovReports can be your central lodgement hub, practice management tool, and bird’s-eye view of your team’s workload, helping you run a successful bookkeeping or accounting business.
Talk to us about implementing GovReports for your business or check our webinars! And we can also help if you’re already using GovReports and want to know how to make the most of the built-in tools available to you.
