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Top Mobile Applications for Accounting Firms

The increasing availability of mobile applications has evolved the way big accounting firms do business. Just five years ago, large accounting organizations were most likely using just one form of desktop accounting software. Since then, a rich and diverse ecosystem made up of hundreds of cloud accounting applications has been developed.1

In a recent study by CPA.com titled “The CPA of the Future,” 90 percent of CPAs surveyed agreed that in the next five years, the delivery of digital businesses processes to clients will be a key differentiator among accounting firms.2 Yet, while accountants may now have more options to choose from, investigating every mobile app that comes on the market would be both difficult and time-consuming.""

Whether you are applying for your first accounting job or have been working in the industry for years, it is important to be familiar with the latest accounting technology in order to succeed. The following provides helpful information on the top mobile apps for accounting.

The range of mobile apps for accounting is quite diverse; they can help you collaborate with clients, manage documents, and handle tax preparation, work flow, scheduling, and expenses. To save you the effort of having to do your own research, here are six ways mobile apps can be used to make accounting tools more accessible to large accounting firms.

  1. Password Security: Two of the most popular applications large organizations use to increase cyber security are Keeper and LastPass. They allow you to securely store and share login information with your firm and with clients.3
  2. Accounting: Xero, touted as “the online accounting software alternative to QuickBooks,” is extremely popular for good reason — it is well-designed, syncs with over 500 apps, and gives you unlimited users per organization.4
  3. Accounts Payable/Accounts Receivable (AP/AR): Bill.com helps you streamline your AP/AR services, provides one-click access to client accounts, and helps you manage bill payment while keeping you on top of your workflow. It also syncs with Xero and Hubdoc. uCollect is another AR app that syncs with Xero invoices to automatically collect payment.5
  4. Document Management: By using Hubdoc, your clients can create a secure direct connection to their bank accounts for you instead of providing you with read-only access. The app also tracks receipts, invoices, and bills and syncs with Xero, QuickBooks, and Bill.com.6
  5. Employee Scheduling and Payroll: While Xero Payroll is included for no additional fee with the Xero standard subscription, it unfortunately does not automatically process payments or payroll tax filings. However, Gusto (formerly ZenPayroll) does. Both Xero and Gusto also sync with Deputy, an online employee scheduling software that eliminates manual payroll entry by syncing employee time sheets directly into the payroll system.7
  6. Expense Reimbursement: While Concur is extremely popular with large organizations for tracking business travel and expenses, Expensify offers the same features and integrates with a greater number of accounting apps, including QuickBooks and Xero. You can also use Receipt Bank as a simple way for your clients to scan receipts and invoices for processing into Xero.

If you are looking to set yourself apart and become a leader in the accounting field, consider enrolling in the Online Master of Accountancy program at The University of Scranton. To learn more or speak with a Program Manager, call 866-373-9547.

Resource:

  1. https://www.ifac.org/global-knowledge-gateway/practice-management/discussion/most-useful-apps-accountants

Endnotes:

  1. Oliver, B. “Recommended apps for accountants & bookkeepers.” BlakeOliver.com. http://www.blakeoliver.com/recommended-apps-for-accountants-and-bookkeepers/ (accessed on September 23, 2016).
  2. Drew, J. “Accounting firms moving slowly towards cloud.” JournalOfAccountancy.com. http://www.journalofaccountancy.com/issues/2015/mar/cloud-accounting-software-cpa-firms.html (accessed on September 23, 2016).
  3. Oliver, B. “Recommended apps for accountants & bookkeepers.” BlakeOliver.com. http://www.blakeoliver.com/recommended-apps-for-accountants-and-bookkeepers/ (accessed on September 23, 2016).
  4. Xero.com. https://www.xero.com/us/?type=partner&pid=0WGBKP (accessed on September 23, 2016).
  5. Oliver, B. “Recommended apps for accountants & bookkeepers.” BlakeOliver.com. http://www.blakeoliver.com/recommended-apps-for-accountants-and-bookkeepers/ (accessed on September 23, 2016).
  6. Oliver, B. “Recommended apps for accountants & bookkeepers.” BlakeOliver.com. http://www.blakeoliver.com/recommended-apps-for-accountants-and-bookkeepers/ (accessed on September 23, 2016).
  7. Oliver, B. “Recommended apps for accountants & bookkeepers.” BlakeOliver.com. http://www.blakeoliver.com/recommended-apps-for-accountants-and-bookkeepers/ (accessed on September 23, 2016).