Having taken over a small practice I have been able to see the time saved by good practice management software.
We use Accountancy Manager but any decent practice management software will offer similar services
- A simple spreadsheet upload of all client standing data and services so everything is in one place (the PA from the new practice kindly provided this in the form of multiple spreadsheets which we merged)
- Engagement letters generated based on the services provided
- Engagement letters and accounts signed online
- Clients can update any missing information and changes of address in their standing data
- Automatic requests for missing data eg proof of ID or a UTR
- Recurring tasks set up automatically for each service
- Adding our own internal deadlines for tasks eg 3 months for accounts and 2 weeks for VAT returns rather than the 9-10 months and 5 weeks for the statutory deadlines.
- Automatic records request emails generated from those tasks and deadlines (all templates can be modified to suit your personal style)
- Time recording as the new practice still uses hourly billing
- Marking a task as complete automatically sets up the next occurrence
- Automatic links to Companies House to keep deadlines etc updated
- Generating confirmation statement reminders and submitting from within the software (a small handling charge on top of the Companies House fee)
- Tracking emails between clients and team members so they don’t have to CC me on everything
- Central repository of all information which helps as all the team are part time and even I am juggling two businesses.
It hasn’t been perfect (I’ll share my learnings/improvements separately) but it has been relatively smooth.
This technology has freed me up to ‘meet and greet’ the new clients as tech is still no replacement for human relationships.