Data entry/collection no longer need to be inefficient and cumbersome like it used to before in the accounting profession. Gone are the days of outdated manual entry and piles of client documents. Many powerful and secure web-based platforms have streamlined data collection and review process. Accountants should leverage these web-based technologies to get rid of inefficiencies. That, in turn, will shift valuable accounting hours from gathering client records to more value-added tasks.
For accountants, manually collecting data from clients lead to a significant amount of inaccurate data, misspelled numbers, and misplaced files. Not to mention, security is also an issue with such a process.
Even though going paperless using email might seem like a step up from manual processes but unfortunately, they can be just as cumbersome, sluggish and confusing. If you’re collecting documentation from multiple clients via e-mails, you’re probably not aware that there are simpler methods out there.
Using an application, such as Dropbox, for example, might make the job substantially easier and much more secure. Here your clients can easily submit their documentation, and you can at any time transfer those to another system through built-in integrations with other software. Since Dropbox is a web-based platform, you can easily access client documents online from anywhere and on any device.
Without a doubt, the most time-consuming accounting chores is getting together with clients to get their signature. In a scenario where you’re meeting up at a certain location to sign documents, you could be spending hours needlessly. One of our personal favorites is DocuSign. It’s secure and easily accessible from anywhere and any device.
Throughout the US, electronic signatures are both legal and valid, which means that you can easily obtain them in seconds. The problem is – what if the bulk of your documentation is in physical format?
If that’s the case, there’s not much you can do about it in this tax season, but you should definitely consider making it your priority to transition to e-documents for the next. If you don’t have that many clients, we strongly suggest that you make the switch as soon as possible.
Managing multiple client data including trips and business transactions can be an organizational challenge for CPAs and their team. TripLog offers an all in one dashboard for Accountant teams known as the TripLog for Accountants dashboard. This dashboard allows CPAs to easily and quickly request and access mileage data. Built-in integrations to QuickBooks, FreshBooks and Xero accounting software makes data review and actual accounting work a breeze during stressful tax seasons. To learn more, check out details on our website here.
Educating your clients to streamline their processes
It’s probably true that as an accountant you’re already aware of the technology we’ve mentioned so far. However, the data collection process is a two-way street – if your clients don’t know how to use software for the process, you’ll still have plenty of work on your hands.
By educating your clients, you ensure that the work is completed efficiently on both ends. The best thing is most applications are very user-friendly and mindful about onboarding experience. So, don’t let old timey cumbersome data collection process bog you and your practice down. Talk to your clients today for the shift toward a more streamlined and efficient working partnership.