Today's Technology for Tomorrow's Firm.
Issue link: https://cpapracticeadvisor.epubxp.com/i/432767
TIME & BILLING Reviews 21 BEST FIT TPS was specifcally designed for a c c o u n t i n g f i r m s s e e k i n g a streamlined time tracking and invoicing management solution that suppor ts multiple billing options, integration with Outlook and other Ofce functions, a full AR module, custom reporting and rem o te t i m e d ata ent r y. Th e system can be used by frms with fxed-fee billing or hourly billing processes. STRENGTHS • User-f r iend ly i nter face w it h navigation funcitons and pro- cesses designed by accountants • Users have access to graphical overviews of time for activities per user • Good integration options with M icrosof t Of f ice and Quick- Books • Te program includes builtiin r e c e i v a b l e s a n d i n v o i c i n g functions POTENTIAL LIMITATIONS • No web-based version is avail- a b l e , h o w e v e r, t h i r d p a r t y hosting providers may be able to assist in hosting SUMMARY & PRICING TPS of fers a streamlined and efective time and billing manage- ment system for accounting frms, sporting integrated AR , full billing functionality and integration with Q u i c k B o o k s a n d M i c r o s o f t products. The system is best- suited to small and mid-sized practices, but can support larger frms. Te initial cost of the pro- gram is $399 for a single user, plus $149 for each additional user. Annual renewals are discounted. www.TPSSoftware.com TPS Software Read the full review and see expanded ratings for this product online at: www.CPAPracticeAdvisor.com/12022011 4.5 2014 OVERALL RATING Billing on Texas Time Time management is a core factor in managing a successful tax and accounting firm. From tracking time spent on various client-billable functions to administra- tive processes, and ultimately sending invoices to clients, a firm's time and billing system has to be at the center of everything. No one knows this better than Randy Singer, CPA, the managing partner at Brown Graham & Company's Tulia, Texas office ( www.bgc-cpa.com ). The full-service firm has seven offices across the state, each with varying client bases and specialties. The Tulia office of BGC focuses largely on the agricultural and oilfield services industries. Many of BGC's partners and professional staff, including Singer, were raised in agricultural communities, giving them a personal interest and understanding of what it takes to address agricultural related business concerns. SIMPLIFYING THE BILLING PROCESS When Singer took over as the managing partner in Tulia, the office had just recently turned to TPS Software for its time and billing management needs. TPS is a profes- sional practice management and time and billing solution designed specifically for accounting firms. Nearly 10 years later, the firm still finds the system to be one of its most valuable technology investments, helping them to manage more than 10 staff members, plus temp professionals and interns in the office and their interactions with more than 500 clients. About 90 percent of these clients are agricultural or in the oil and gas business. "TPS captures our time, which is life blood of an ac- counting firm," Singer said. "We can bill directly through the system and it has a very straight-forward process that's all on screen and completely paperless if we want it to be. But we can also print invoices for our clients who still prefer paper. During the switchover to TPS, Singer says the com- pany helped the firm transition over from its former time management program, which wasn't keeping up with the firm's needs. This included setting up client accounts and integration with other programs the firm uses. Since then, the company has provided support as needed, but Randy says the system is so easy to learn and use, they rarely need to reach out for help. HOW TPS MAKES FIRM MANAGEMENT EASIER In addition to the easy-to-use billing functions, Singer says TPS has several other features that streamline time management functions. "I really love the clock functions," he notes. "I can click one button to keep the clock running while I'm working on a client engagement, then pause it if I work on something else or take a phone call, or turn it off when I'm finished. I can add notes or other information, and then the data and notes automatically get applied to the client, and is included in reports." He also noted the system's due date management functions, which include reminders and can be customized by each staff member. The built-in reporting functions in TPS include WIP and AR analyses, final/interim/partial billing, invoice histories, write-ups/downs, invoice templates, search functions and remote time entry. "TPS has helped us increase productivity and better track and manage our time, and at such an affordable price point," Singer says. "It's the first thing I turn on every morning, and the last thing I turn off before I leave." TPS starts at $399 for a single user and increases by $169 for each additional user license. S P O N S O R E D C O N T E N T READ THE 2014 REVIEW OF TPS Software www.CPAPracticeAdvisor.com/12022011 FIRST-HAND