Do accounting firms also have projects?

‘Project’ is not a word that is often thrown around at accounting offices, but still there are processes that fit the description. In essence, a project is a plan that has a start, an ending, and tasks related to it. Sounds familiar, right? One typical process at accounting firms that is actually a project, is the process of customer onboarding. So yes, accounting firms do have projects.

Thus, a project management system is also beneficial for accounting firms. It’s great for planning work and making processes more efficient. Another useful scenario when a project management system comes handy, is mergers and acquisitions. In general, a project management system is extremely useful when deploying any service that has a start, an ending, and different phases to track and invoice.

Managing your accounting firm’s projects is easy in Koho PSA

In Koho PSA, project management starts from the Projects-tab. First you’ll create a project and attach your customer to it – this is fast and happens in just a few minutes. Next you need to create a project plan that defines its main phases and sub-phases, according to what needs to be done and in which order. You can define budgets, schedules, invoicing rules and persons responsible for each phase. The budgeted hours will show in workload reporting and transfer to the assigned employee according to work orders.

Koho PSA has a clear project card that shows all its information. If the work is marked as billable, it will appear directly on an invoice. You can also define the work as bound to a contract or internal, if you don’t need it to be billed. You can automate invoicing by defining project-level settings for forming invoice rows and any attachments or breakdowns needed.

When working on a phase, just clock the time. When ready, check it as done. If needed, you can share the project in a digital collaboration room with your customer where you can together go through the plan.

You can make new projects based on previous ones, or create a model project that can be used multiple times with small modifications. Consequently, project management for accounting firms is easy with Koho PSA. You can also find ready-made project templates in the system for most common projects used at accounting firms.

Would you like to find out more about how your accounting firm could manage projects better? Book a demo!