Accounting firms and CPAs
It’s all about clients and matters
Tracking all business-related client activities, and relationships within the accounting practice management software helps ensure ONE single source of truth. An integrated KYC check caters for seamless compliance.
Time entry is a challenge since accountants usually work on multiple engagements simultaneously, mainly on minute-wise intervals which need to be registered. A time tracker that requires minimal clicks is key for not missing time spent on engagements. Long descriptions often require a different way of viewing and editing. Predefined descriptions and description rules are an effective approach to standardise and quality-assure time descriptions, while minimising the time required to create value-adding texts.
Invoicing is often done in a collaborative workflow process where the amount to be invoiced usually needs to be re-evaluated and distributed between resources based on their contributions to the engagement. Packaged services, subscription billing, time & material billing, scheduled billings, and excess fee billing are common billing practices. Regardless of the invoicing method you use, you need an easy and structured way to monitor progress and execute invoicing in a step-by-step process with full traceability.
Ready to scale your accounting firm or CPA with accounting practice management software?
Pursuing a straightforward client management?
Centralised client management in ONE single accounting practice management software instead of split manual processes. Get a complete picture of your client business-related activities in one place. From the client onboarding to the ongoing due diligence, as an integral part of your client management, ensure key client data is centrally captured with full traceability for reporting.
Client intake made easy. Designed to integrate with any KYC check software, or for manual processing.
Manage business relationships, and generate client insights.
Pursuing a straightforward client management?
Centralised client management in ONE single accounting practice management software instead of split manual processes. Get a complete picture of your client business-related activities in one place. From the client onboarding to the ongoing due diligence, as an integral part of your client management, ensure key client data is centrally captured with full traceability for reporting.
Client intake made easy. Designed to integrate with any KYC check software, or for manual processing.
Manage business relationships, and generate client insights.
Wasting time on matter setup?
Quick and easy matter setup in less than a minute. Creating a matter is time-consuming and cannot be done without an approval process related to Know-Your-Client.
Matter creation as simple as ABC, done by anyone. Not only is creating a matter time-consuming, but it also usually requires support from the Finance team. There’re several things that need to be considered such as the task structure, pricing, client and matter acquirers, deadlines, and associations, but Finance should be able to focus on their core responsibilities.
Wasting time on matter setup?
Quick and easy matter setup in less than a minute. Creating a matter is time-consuming and cannot be done without an approval process related to Know-Your-Client.
Matter creation as simple as ABC, done by anyone. Not only is creating a matter time-consuming, but it also usually requires support from the Finance team. There’re several things that need to be considered such as the task structure, pricing, client and matter acquirers, deadlines, and associations, but Finance should be able to focus on their core responsibilities.
Struggling to manage time entry?
Register time spent on clients using the time tracker regardless of how many assignments you are working on.
Having a time tracker that is easy to use and requires minimal clicks is essential to ensure that accountants are accurately tracking their time spent on different matters. Quickly and easily log time up to the second.
Update timesheets with booked tasks in just one click. Never miss time entries again! Easily capture and record time as work is completed with automatically generated time records. No matter how many parallel assignments accountants have been working on.
Alternatively, input time directly in Outlook to submit the completed assignments or rather receive briefing emails with the current timesheet status for effortless review and prompt submission.
Finally, provide a more detailed account of the work performed by using pre-defined descriptions and description rules for your invoice specifications.
Struggling to manage time entry?
Register time spent on clients using the time tracker regardless of how many assignments you are working on.
Having a time tracker that is easy to use and requires minimal clicks is essential to ensure that accountants are accurately tracking their time spent on different matters. Quickly and easily log time up to the second.
Update timesheets with booked tasks in just one click. Never miss time entries again! Easily capture and record time as work is completed with automatically generated time records. No matter how many parallel assignments accountants have been working on.
Alternatively, input time directly in Outlook to submit the completed assignments or rather receive briefing emails with the current timesheet status for effortless review and prompt submission.
Finally, provide a more detailed account of the work performed by using pre-defined descriptions and description rules for your invoice specifications.
What’s slowing down matter billing?
Streamline value-based invoicing in a standardised collaborative process. Billing matters often involves manual processes such as manual data entry making it time-consuming and prone to error. Free up resources that could otherwise be spent on billable client work.
Employing diverse billing strategies such as packaged services, subscription billing, time & material billing, scheduled billings, and excess fee billing is a customary practice. Irrespective of the chosen invoicing method, it’s crucial to have a systematic and structured approach for monitoring progress and executing invoicing, ensuring full traceability.
Pre-defined descriptions, and approvals for more straightforward invoicing to ensure quality assurance. Thus, reduce the time span you now use for manually controlling and adjusting the extensive number of entries and long descriptions.
Pro-rated calculation and re-evaluation based on performance. Apart from invoicing matters according to time and expense entry, sometimes you need to adjust the invoiced amount. The resulting amount has to be distributed among the contributing resources while ensuring that each resource is billed correctly for the time and effort they have put into a matter.
Finally, calculate WIP and post it to G/L in a click for correct income statement. Get a detailed WIP report for full audit trail.
What’s slowing down matter billing?
Streamline value-based invoicing in a standardised collaborative process. Billing matters often involves manual processes such as manual data entry making it time-consuming and prone to error. Free up resources that could otherwise be spent on billable client work.
Employing diverse billing strategies such as packaged services, subscription billing, time & material billing, scheduled billings, and excess fee billing is a customary practice. Irrespective of the chosen invoicing method, it’s crucial to have a systematic and structured approach for monitoring progress and executing invoicing, ensuring full traceability.
Pre-defined descriptions, and approvals for more straightforward invoicing to ensure quality assurance. Thus, reduce the time span you now use for manually controlling and adjusting the extensive number of entries and long descriptions.
Pro-rated calculation and re-evaluation based on performance. Apart from invoicing matters according to time and expense entry, sometimes you need to adjust the invoiced amount. The resulting amount has to be distributed among the contributing resources while ensuring that each resource is billed correctly for the time and effort they have put into a matter.
Finally, calculate WIP and post it to G/L in a click for correct income statement. Get a detailed WIP report for full audit trail.
Lack of insights to take data-driven decisions?
Full access to detailed and trustful data from ONE source. Working with different systems or even with bridging Excel spreadsheets means that your accounting practice data is spread all over. This makes it almost impossible to have an overall view and identify areas of improvement to help you streamline your operations.
Multiple on-demand drill-down data visualisation options for better analytics and reporting. With Power BI, get as many dashboards as you need to get full business insights into your accounting firm or CPA.
| Matters Profitability Sales … |
Clients Engagement Profitability … |
Fee earners Performance Commissions … |
Practice-wide Lock up WIP Debtors … |
Lack of insights to take data-driven decisions?
Full access to detailed and trustful data from ONE source. Working with different systems or even with bridging Excel spreadsheets means that your accounting practice data is spread all over. This makes it almost impossible to have an overall view and identify areas of improvement to help you streamline your operations.
Multiple on-demand drill-down data visualisation options for better analytics and reporting. With Power BI, get as many dashboards as you need to get full business insights into your accounting firm or CPA.
| Matters Profitability Sales … |
Clients Engagement Profitability … |
| Fee earners Performance Commissions … |
Practice-wide Lock up WIP Debtors … |
Prior to Pryme, we had multiple systems, we were inefficient in the way we processed data. People were producing up to four time sheets, and then we had to reconcile and do inter-entity billing between the organisations. Now we’ve done away with the extra time sheets. This has saved up to five days a month of admin time.
We needed one core system that we could rely on for the future to allow us to grow. We saw a fully integrated solution as the only way to create conditions for growth and scalability. We are now able to manage our client time and how we book it. The seamless integration with Business Central and the accountancy was key. Now we can really understand where people are spending their time, where our revenue is, and what needs to be improved. When we had standalone systems, we couldn’t do that.
