All the accounting firms, irrespective of their size, are now adopting practice management software to manage their firm and handle their work load. This is because chartered accountants have now realized that several manual tasks can be performed with maximum efficiency when they are automated. However, few of them are still clueless that an automated billing process and collection activity integrated with an automated practice management system, is the complete solution for all professional service firms. It not only lowers the operation costs, but also improves the collection processes.
Problems with manual billing system
A recent survey done on the accounting software used by various accounting firms reveals that many of them are still doing manual billing processes to keep track of accounts receivables, which is a very time-consuming task. They create invoices manually, send them to customers, and then arrange for money to be collected from them through repetitive payment reminders. In today's world where we are fully surrounded with technology, these manual processes are very tedious and time-consuming.
Benefits of Automated billing system
Automated billing and collection software solution is a must-have for every Chartered Accountant, Company Secretary, CPA and all the professional service firms, who are seeking to create their practice more effective. It provides all kinds of administrative help in managing your billing workflows. It handles your entire client billing process by -
- ▹ Detailed billing of projects on timely basis
- ▹ Timely creating bills and sending it through emails to clients
- ▹ Timely confirmation of account balances to clients
Benefits of Automated collection system
Automated billing models and collections strategies provides you real-time insight of your accounts receivables. It also improves the collections processes by -
- ▹Payment status communications to clients
- ▹ Tracking late payments or disputed bills
- ▹ Reporting unbilled and uncollected invoices.
Now, getting the insight that an automated invoicing software integrated with practice management system, helps to reduce human errors and efforts, many accounting firms have started investing in easycloudbooks — a cloud-based accounting software for busy professionals.
Key Features of Easycloudbooks:
- ▹ Paperless Practice Management Software for accounting firms
- ▹ Automated Billing and Collections Management Solution for all types of Accounting Service
- ▹ Customer Portal so that clients can log in and see status report of their jobs, their account details and also make payments to invoices
- ▹ Automated Job Allocation and Project Time Tracking Solution
- ▹All Key performance Indexes at your Dashboard
- ▹ Built-in-Controls with all Security Features