why accounts payable should go digital

businesswoman using calculator while reviewing something on laptop screena dedicated credit card can handle all those payables with one monthly payment.

by roman h. kepczyk
quantum of paperless

processing accounts payable is another of the manually intensive processes within the firm’s administrative department that can be significantly streamlined through digital processes.

more on tech spending: remote deposit is a no-brainer | field auditors need right equipment, connections | 3 steps for firm procedures manuals | stop paper at the source: the client | digital workflow systems make tax season easier | who decides what to keep?

consider how many “touches” a single payable creates:

  • receipt of the invoice,
  • timing of payment in a folder,
  • writing the check and attaching the stub,
  • sending it to an owner for signature,
  • filing a copy of check with backup in its own folder, and
  • stuffing, sealing and sending the check to the vendor.

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remote deposit is a no-brainer

man's hands on computer keyboardor keep spending 3.25 weeks per year doing it the paper way.

by roman h. kepczyk
quantum of paperless

one of the easiest processes to convert to paperless with an immediate roi is the firm’s system for depositing client checks.

more on tech spending: field auditors need right equipment, connections | stop paper at the source: the client | who decides what to keep? | how smart accounting firms use intranets to get smarter | unified messaging boosts security | remote access boosts productivity, requires planning | laptop-only workers more common

manually receiving and physically going to the bank to deposit checks can be time-consuming and subject to too many errors.

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field auditors need right equipment, connections

dual monitors on the road? twain-compliant scanners? check and check.

lenovo thinkvision lt1421 14-incj portable monitor
lenovo thinkvision lt1421 14-inch portable monitor

by roman h. kepczyk
quantum of paperless

the advent of today’s audit “document container” applications has transitioned every aspect of audit production into a digital format. the key to successfully using these engagement applications is to make sure your personnel have the optimal equipment with them to work digitally.

more on tech spending: 3 steps for firm procedures manuals | stop paper at the source: the client | how and why to set optimal scanning practices | digital workflow systems make tax season easier | who decides what to keep? | firms need document management standards | unified messaging boosts security | ready for a revolution? your phone is | remote access boosts productivity, requires planning | get ahead of your software updates | ready or not, here comes windows 10 | laptop-only workers more common | scanners allow data capture at the source | in pc monitors, more is better

this includes

  • multiple monitors,
  • image capture equipment and
  • remote communications capabilities.

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soloists, small firms must take software seriously

johnston, garrett, tankersley
johnston, garrett, tankersley

subscriptions and the cloud may not work for everyone. but proper licensing does.

by randolph p. johnston, leslie garrett, and brian f. tankersley
the accounting firm operations and technology survey

software is the reason that firms make investments in computer hardware, yet many firms seem to avoid upgrades until they are forced to make a change. for example, when asked to identify their preferred word processing application,

  • more than 50 percent of respondents in both groups are using a version of the software that is over five years old (e.g. office 2010 or earlier), and
  • a significant number of solo practitioners are using word 2007, which is eight years old as of june 2015.

related: soloists, small firms need tech update plans | soloists, small firms cite tech challenges | an it department of 1? soloists, small firms relate

while we do not think that practitioners should jump the newest version of a product immediately, we also do not think they should be more than two releases behind the current version of their applications for an extended period of time.

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how the smallest firms can make better technology decisions

johnston, garrett, tankersley
johnston, garrett, tankersley

that means hardware, os and licensing (hello, audit!). bonus checklist: business vs. home computer models.

by randolph p. johnston, leslie garrett, and brian f. tankersley
the accounting firm operations and technology survey

computer hardware and operating systems provide the foundation from which firms and their staff members manage their work tasks every day. while some practitioners focus more on the brand of the system rather than the quality of the components it contains, we believe that all of the major hardware manufacturers make some excellent, business-grade hardware, and they all also make some low-cost, low-quality items targeted at home users that are not appropriate for use in a business environment.

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