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Tools of the week: Practice Management

Date Added | May 8, 2019


This week we’re looking at tools from the Practice Management Hub, which contains a plethora of practical guides and resources to help improve your profits as an accountancy practice.

12 Month Profit Improvement Plan
– Strategy and Profit improvement

You can use this tool to focus on improving charge out rates and utilisation and ultimately “how we improve our bottom line?” The profit improvement calculator allows you to analyse:

  • Recovery Rates
  • Work in progress adjustment
  • Disbursements
  • Revised Fees and more

Computerised Work Programs
– Strategic Planning

Work programmes to reflect the clients accounting system, including various online accounting providers.

MAD Guide – How To Market Cloud Accounting Services
– Marketing and Selling

We are seeing significant changes to the way firms organise themselves and prepare management and final accounts as a result of cloud accounting. With online accounting, firms can decide when they want to produce their clients’ monthly, quarterly or year-end accounts. This guide will show you how to move existing clients to the cloud and how to attract potential clients to your firm.

Client Survey Results
– Adding Value to Your Clients

A detailed client survey from the top 50 clients of accounting firms over the past 25 years.

Sample Agreement Payment Terms
– Merger and Acquisition

An agreement which covers the common payment terms of a transaction.

Staff Induction Procedures Checklist
– Administration

A form to standardise procedures when taking on a new employees, ensuring they are made to feel welcome within the business.

The Practice Management Hub is exclusive to 2020 Innovation members and include resources and tools across various categories:

  • Strategy and Profit Improvement
  • Administration
  • Merger and Acquisition and more

Marketing Planner Prospects
– Marketing and Selling

Use the marketing planner to detail your action plan for prospects over the next 12 months.

Bookkeeping Work and Fees Schedule
– Administration

A template setting out the necessary bookkeeping steps and responsibilities, also includes a fee agreement.

Find out more about available tools and resources here!