Practice Ignition is designed to assist accountants manage their engagement letters, client payments and raise invoices. For you as a business owner, another major advantage of the software is also the ability to process your tax engagements (in addition to your normal engagements). There are three key benefits to this:
1. You get all your clients on the same system and they stay compliant as every client needs a signed engagement.
2. You can get paid upfront and have a signed contract which reduces scope creep and debate between you and your clients.
3. You can conveniently set up the engagement process from a mobile device or Ipad at reception. No more postponing the engagement process or waiting around for the client to accept your engagement offer days after you have agreed on an engagement.
We realise that Accounting Practitioners face the daunting task of filling tax returns for hundreds of clients come tax season. Traditionally, accountants have been required to type a word document or send out a PDF for every single engagement letter. This is a very time consuming process and makes keeping track of your clients difficult.
Even worse… some just don’t do engagements for their individual clients as they’re “too small” and it takes too long.
Practice Ignition stores your clients information, kicks off matching jobs/workflows (depending on your system used) so there’s a clean/clear line of site to jobs for these clients, Pushes invoices instantly to your ledger system and automates your payments and provides you an audit trail so that you can view every action that happens in a proposal.
Get all your clients under contract so you can bubble up key data, like how many rental returns you do, price charged, # per client etc. which you can’t get otherwise and you’ll avoid scope creep on this high volume type of job (see our last blog on getting all your clients under contract here to see other benefits)
How Practice Ignition facilitates your workflow processes and helps you stay compliant:
There is no need for your tax engagements to be a stressful process. With Practice Ignition you can quickly automate your tax workflow, invoices and payments and quickly send out tax engagement letters and then dig into the data to analyse your results and make better decisions for the future.
Top tips to get manage small individual tax returns
Have a standardized engagement prepared listing out all the options on a tax return, so you can copy and cull items that are not required so you can do the on-boarding in seconds;
Have an iPad as a backup in reception, should your client not have a smartphone to accept the proposal on their device;
Turn payments on and ask for payment up-front. You shouldn’t be providing a loans service by being paid out of refunds;
Make all of the above, easy, streamlined and standardised..
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