Automating Accounting and Reporting Tasks in Advance Practice Management

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Advance Practice Management provides accounting firms with a powerful solution to manage their practice. However, many tasks have to performed manually, which is time-consuming for employees and gets in the way of invoicing, reporting and the fee earning process, which can strangle cash flow.

Automating many of the manual accounting and reporting tasks of the Advance Practice Management system will help organisations improve cash flow and streamline admin processes. Codeless Platforms’ BPA Platform can automate a wide-range of these manual tasks, including the creation and distribution of reports, invoicing, fee processing, as well as the monitoring and enforcing of company rules and procedures.

Automating fee processing

Historically, very little attention has been paid to the cost of processing invoices; primarily because of the importance of this manual employee process and the fact that this function is seen by management as a cash generating activity. Yet this one process alone is the most susceptible to errors, time lags and of course heavy, repetitive workloads that strangle cash flow within a company.

Codeless Platforms’ BPA Platform can automate all of these processes, monitor the different stages of fee generation and notify key personnel, via email, when their input is required. As well as removing these manual admin tasks, employees will also get greater insight and awareness of what is happening with a given account.

“By mapping out the fee earning process, we could see that Codeless Platforms’ BPA Platform would remove a considerable amount of administrative intervention. Our employees would routinely create accounts, conduct typing narration, write off fees against time spent, approve invoices and print associated documents. All these activities could be streamlined using Codeless Platforms’ automation capabilities.”Greg Mackay, Software Consultant, McKenzies Group.

Conditional data validation of customer accounts

In certain situations, organisations are legally required to record very specific information about a given client if they match certain and often complex criteria. This is a particularly heavy and repetitive administrative process and typically goes far beyond the scope of most applications.

Codeless Platforms’ BPA Platform can be used to monitor the Advance Practice Management system and notify on data fields that have not been completed. This reduces manual administration and also means that a higher level of detail is collected from client records, providing organisations with more accurate information.

“All businesses these days understand the importance of having full and accurate information to hand but it is absolutely critical for professional organisations such as ours.” Greg Mackay.

Applying further automation to reporting and credit control

Codeless Platforms’ BPA Platform can be used to automate a wide range of processes from monitoring and reporting to notifications and alerts. The BPA Platform can be used to create and distribute work-in-progress reports; monitor and notify on bills raised that do not attain or exceed predetermined profit (or recovery) levels; exam and notify on agreements in the system that are approaching their expiry date; and deliver alerts to partners regarding proposed agreements that require chasing.

Case Study: McKenzies Group

Case Study: McKenzies Group

Discover how Chartered accountants McKenzies Group used Codeless Platforms’ BPA Platform to reduce Work-In-Progress (WIP) cycles and improve cashflow.

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