Technology for the Modern Accountant

4 Accounting Practice Management Software Tools for the Modern Accountant

14-Mar 2020

Looking back at legacy accounting practice management software there were just two featured functions: tasks and timesheets. We've come a long way since then! The modern practice management system is now designed to help you run the full array of tasks your practice requires. The efficiencies found in a new system save you time, allowing you to spend valuable time focusing on your clients and less time on non-billable administrative tasks.

According to a recent report, 56% of accountants said that a key benefit of leveraging technology was the increase in productivity. With the help of accounting practice management software, your practice is able to improve multiple facets across your company from systemizing your separate tools, boosting operational efficiency, enhancing team collaboration, and nurturing client relationships.

It's important to do your research to find the software that best suits your practice needs. We've compiled a list of four potential contenders (in no particular order) and highlighted their top-notch features and the advantages that come with each one.

1. Practice Ignition

Practice Ignition's tools enable accountants and CPA firms to seamlessly onboard and engage new clients, as well as manage your current client base as it expands. Major benefits include the ability to create engagement letters (aka proposals or quotes), collect payments on proposals, handle e-signatures, maintain visibility with a business dashboard to monitor revenue, and automate payments to help dedicated professionals win business.

2. QuickBooks Online Accountant

The QuickBooks Online Accountant is aimed to help accounting professionals run and grow their business. Quickbooks helps you track clients and work conveniently - all in one place. You can also use the platform to utilize templates to get a jumpstart on upcoming projects, and set your own schedule with the ability to access your clients' books anywhere at any time. Plus expand your potential client network with the Find-a-ProAdvisor directory and promote your services with a customizable listing to attract and connect with prospective customers.

3. Xero Practice Manager

With Xero Practice Manager, you're able to manage your workflows with a real-time view of your ongoing jobs, convert your work-in-progress records to invoices easily, customize reports specific to each of your clients, as well as create tasks, monitor staff performance, and client profitability within the system. 

4. Accelo

Accelo's platform helps CPA firms, accountants, and other service businesses improve client relationships and automate your business processes. Accelo integrates your staff, clients, work, and billing in a central system, so the entire team has real-time access to client information. Leverage automation to track all your work to maximize billable time, take advantage of the Utilization dashboard to assign work more effectively, and streamline your workflows by managing projects throughout the timeline including overseeing budgets, resources, and time. 

Pro tip: You can make your accounting practice management software even more powerful! Accelo integrates with each of the platforms above to help you get more bang for your buck.

Accelo's Practice Ignition integration

Connect the work you're actively budgeting, tracking, and billing in Accelo to the proposals, which you're creating and negotiating in Practice Ignition, saving you ample time and eliminating frustrations. 

Accelo's Quickbooks integration

Track your work on client services and effortlessly connect accounting with QuickBooks. Forecast your projects with real-time Gantt charts, milestones, and budgets and see what's going on from a single screen. 

Accelo's Xero integration

Manage your contacts from prospect to close in one integrated platform. Import your client contacts and sync them with Xero to get a single view of client work, invoices, and payments. You're also able to track your opportunities, pipeline, and conversion from one place. 

Empower your accounting firm to work more effectively, save valuable time, and grow your business with comprehensive accounting project management software. Give Accelo a try today!

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