Practice CS Management & Reporting

1. Practice CS Management & Reporting Amy McCarty Education Services

2. Objectives • Learn which reports Rootworks recommends using in Practice CS • Understand the tools available to you for managing time entry and projects • Understand how to effectively run reports by utilizing filters and/or grouping options

3. Recommended Reports • Production Analysis • Billing Analysis • Project & Task Tracking • Receipt and Adjustment Journal • AR Summary

4. Production and Billing Analysis Production Analysis • Detailed by Staff: how much time is admin vs billable time • Grouped by Activity Type, Direction=Descending • Detailed by Client: how much time did we spend per client Billing Analysis • Detailed by Staff: to see how our staff are doing • Grouped by Activity Type, Direction=Descending • Detailed by Engagement: to see how we are doing on our product offerings • Detailed by Client Family: to see how we are doing on our clients

5. Production Analysis • Billable % • Industry average: 75% annually (large firms 65% and small/medium firms 75%) • We want a minimum of 80%, but this should be higher with adequate administrative staff • Rootworks members are typically around 90% with dedicated admin staff • The total for the firm should be around ≥ 67%

6. Billing Analysis • Real % • Strive for a close to 100% but most firms will take 90% as a minimum (by Staff) • The firm total should be 100% • Actual Rate • Want this to be at least the Original Rate when looking at report by Staff

7. Billing Rates The billing rate ranges in our member base are as follows. *based 2013 Rootworks member survey AICPA Standards for Billing Rates: • Accounting Rate = 3.5-4 times the cost rate • Tax Rate = 6-7.5 times the cost rate • Consulting = no standard, but typically the same as tax except for partners it is higher

8. Project/Task & Time Tracking Firm Dashboard • Utilize portlets to easily manage information • Project Tracking • Custom portlet using Project Tracking report with filtering and grouping options • Task Tracking • Custom portlet using Task Tracking report with filtering and grouping options • Time Tracking • Staff Summary Portlet • Staff Active Timers Portlet

9. AR Reports Receipt and Adjustment Journal • To record our deposits • Grouped by Type AR Summary • To quickly see clients’ balances and aging of balances • Detailed by Client

10. Important Reporting Options • Selection tab controls what appears on the report • Determine your date range of information • Filters are not always necessary • Layout tab controls how the information is displayed on the report • Grouping options allow you to easily gather the data you need • Any report can be exported to excel

11. Questions?

12. Objectives • Learn which reports Rootworks recommends using in Practice CS • Understand the tools available to you for managing time entry and projects • Understand how to effectively run reports by utilizing filters and/or grouping options

13. Resources on ngaf.com Resources by Product > Practice CS • Practice CS Dashboards Webinar Archive > Practice CS • Dashboards & Reporting

14. Thank you for attending! (email coaching@rootworks.com for any needed assistance with Practice CS)