2 Key Things Must Look For Tax Practice Management Software

If you’re considering investing in tax practice management software, what should you specifically be looking for? Every good tax practice management software has two overarching themes: customer relationship management and document management.

Customer Relationship Management for Tax Professionals

Best tax practice management software has different levels of customer management tools. The purpose is to help you collaborate with clients by keeping their information up to date, securely maintaining and sharing documents, and communicating quickly and easily.

In short, your tax practice management software should have a client portal that serves as a central hub for all your client communications. This potential no extra stray emails; Instead, all your inbound and outbound communications with present consumers are completed thru the portal.

  • Stay organized: You’ll be able to view a complete audit history for each client file and have quick access to all their documents, messages, and tasks, each organized into a simple timeline. An important part of managing clients is setting up automatic message reminders so you never have to chase down lost data.
  • Making Information Accessible: Other features to look for include the ability to pin important information to the top and give your staff access to each customer file. Because you don’t want to be scrambling every time a client calls to check the status of something, you want their information organized so that every staff member can quickly check the history.

Also, remember that no tax practice management software will do all the work for you. Many of these systems are only as good as what you put into them. If you want an alert for active communications, such as a client’s birthday, you need to enter them into the software. But the more you put in them, the better you manage your contacts.

Cloud-based document management for tax professionals

In addition to client collaboration, the best tax management software can manage documents including tax forms, workflow management, and due date tracking. Ideally, you must have a dashboard that offers you a bird’s eye view of your firm’s work, such as what’s taking place now, what’s coming soon, and what’s lately been completed.

  • Filtering and Prioritization: When managing documents, your software will allow you to do things like filter by a specific date, client, and status.
  • Email Syncing: Another aspect of some software is automatically pulling your entire email into the inbox so everything is in one place. This can allow you to post a comment for other tax preparers in your firm and tag them to take action.
  • Workflow Templates: As you build your processes, you’ll want to automate them with workflow templates.
  • Automated Payments: Finally, document management wouldn’t be complete without the ability to track billing and invoicing. Automatic payments are a big advantage for many organizations. Software that organizes this for you is a huge plus.

You already know that tax practice management software is used to improve your firm’s organization, efficiency, and communication and you already know the 2 key things for this software.

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