Accountants are blessed with their analytical skills and are highly valued for the money they save – and make – for small businesses. However, when it comes to something for them – choosing Practice Management software – they’re their own worst enemies. Some accountants don’t see the benefits, some think it’s too costly, yet others don’t know where to start researching or can’t decide on what they need it to do. This is why we’re trying to help these lovely accountants with this guide to Practice Management software for accountants.
What are the benefits of Practice Management software for accountants?
Above all, Practice Management software allows accountants to run their practice easily, in a more organised manner, and to save time that can better utilised on billing clients than ‘dead time’ running administrative tasks.
Practice Management software for accountants helps them :-
- filing Self Assessments with HMRC
- filing Corporation Tax with HMRC
- producing accounts for Companies House
All of which are filed in a more efficient and timely manner, and with extremely high first-time filing success rates. In fact, BTC Software have found their Practice Management software has achieved 99.1% success with first-time filing of Corporation Tax!
In addition to these success rates, Practice Management software for accountants provides value for money, all-inclusive support (so no IT or technicians need be hired), and is simple and intuitive to use (so no manuals or training courses are required).
What solutions does a Practice Management software for accountants provide?
Of course, every proprietary software package is different, but typically a good Practice Management software for accountants should have these key features :-
- Unlimited technical support (just in case!)
- Award winning Practice Management functionality (let the experts already decide which is the best by awarding it!)
- Unlimited central client database
- Individual, Partnership, Trust and Corporation Tax returns
- Year End Accounts Production (ideally with an Incomplete Returns module!)
- Networkable – usually for 5 to 10 concurrent users (who wants to wait for someone to log out to allow them to log on?)
- Evaluation period (try before you buy, as it could be expensive if you discover it’s not for you!)
One last thing to know about Practice Management software for accountants
Finally, one thing you need to know (and be on the look out for) about Practice Management software for accounts.
Some Practice Management software is priced on ‘ladders’, so the more you use it, the higher the price rises. For example, if you win more business, and use the software more, it ends up costing you more money.
So, before you decide on Practice Management software for accountants, double-check to ensure you’re not going to be whacked with a ladder pricing increase as soon as things pick up!