PDF ProSystem fx Practice Management Getting Started Guide

ProSystem fx? Practice Management Getting Started Guide

Copyright 2014, WK, CCH. All rights reserved. Material in this publication may not be reproduced or transmitted, in any form or by any means, without prior written permission. Request for that permission should be directed to:

WK, CCH 20101 Hamilton Avenue, Suite 200

Torrance, CA 90502

The contents of this publication are believed to be accurate. However, responsibility cannot be assumed for the information contained herein, and the consequences resulting from the use thereof. Material in this publication is subject to change without notice. This Getting Started Guide and the computer software it describes are designed to provide accurate and authoritative information in regard to the subject matter covered. They are distributed with the understanding that the publisher is not engaged in rendering accounting or other professional service. If legal advice or other expert assistance is required, the services of a competent professional person should be sought.

"ProSystem fx Practice Management" is a registered trademark of CCH. "Windows" and "Outlook" are registered trademarks of Microsoft Corporation. All other brand, product, or company names are trademarks or registered trademarks of their respective owners.

May 2014

Getting Started with ProSystem fx Practice Management

Table Of Contents

Table Of Contents .........................................................................................i

Welcome to ProSystem fx? Practice Management..................................1

About ProSystem fx Practice Management........................................................................................................................................1 Using the Getting Started Guide..........................................................................................................................................................2 Using Help................................................................................................................................................................................................4 ProSystem fx Practice Management Helpful Hints ..........................................................................................................................5 New Firm Checklist................................................................................................................................................................................7 Setting Up a Canadian Firm..................................................................................................................................................................9

Getting Started ........................................................................................... 11

Starting ProSystem fx Practice Management ...................................................................................................................................11 Logging On.............................................................................................................................................................................................12 The Dashboard Window .....................................................................................................................................................................13

Firm Setup................................................................................................... 15

Setting Up Your Firm...........................................................................................................................................................................15 Creating Your Invoice Format ...........................................................................................................................................................17

Administration ........................................................................................... 19

Setting Up Your Firm Lists.................................................................................................................................................................19 Navigating the Lists Menu...................................................................................................................................................................21 Quick View - Lists.................................................................................................................................................................................22 Adding Items to a List..........................................................................................................................................................................23 Editing Items on a List.........................................................................................................................................................................24 Deleting Items from a List ..................................................................................................................................................................25 Creating Your Lists ...............................................................................................................................................................................26 Creating Your Service Codes ..............................................................................................................................................................35 Creating Your Employees....................................................................................................................................................................37 Creating Your Clients and Prospects ................................................................................................................................................38

Time Entry .................................................................................................. 41

Entering Time and Expenses..............................................................................................................................................................41 Quick View - Time Entry Folder.......................................................................................................................................................42 Quick View - Time Entry ....................................................................................................................................................................45 Starting Time Entry ..............................................................................................................................................................................47 Using Time and Expense Entry .........................................................................................................................................................48 Time and Expense Entry.....................................................................................................................................................................51 Printing the Edit List ............................................................................................................................................................................53 Releasing Time for Posting .................................................................................................................................................................54 Quick View - Time Administration Options...................................................................................................................................55 Using Batch Entry.................................................................................................................................................................................57 Printing the Time Exception Report.................................................................................................................................................58 Editing Released Time..........................................................................................................................................................................59 Updating Time.......................................................................................................................................................................................60 Correcting Posted WIP........................................................................................................................................................................61

Billing and Invoicing .................................................................................. 63

Billing Your Clients...............................................................................................................................................................................63 Quick View - Billing Activities Menu Options................................................................................................................................64 Quick View - Billing and Invoicing ...................................................................................................................................................65 Starting Billing........................................................................................................................................................................................68 Selecting Clients for Billing .................................................................................................................................................................69

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ProSystem fx Practice Management

Reviewing and Billing WIP..................................................................................................................................................................71 Quick Billing...........................................................................................................................................................................................73 Billing Selected WIP .............................................................................................................................................................................74 Partial Billing ..........................................................................................................................................................................................75 Progress Billing ......................................................................................................................................................................................76 Reviewing the Bill..................................................................................................................................................................................77 Generating Invoices..............................................................................................................................................................................79 Printing Invoices....................................................................................................................................................................................81 Send Invoices via E-mail......................................................................................................................................................................83 Archived Invoices..................................................................................................................................................................................85 Billing Fixed Fee Clients ......................................................................................................................................................................86 Quick View - Billing Administration Options.................................................................................................................................87 Updating Invoices .................................................................................................................................................................................88 Reversing Bills........................................................................................................................................................................................89

Accounts Receivable ................................................................................. 91

Recording Payments and Sending Statements.................................................................................................................................91 Quick View - Accounts Receivable Menu Options........................................................................................................................92 Quick View - Accounts Receivable ...................................................................................................................................................94 Starting Accounts Receivable..............................................................................................................................................................95 Entering a Transaction.........................................................................................................................................................................96 Distributing the Payment - Open Item.............................................................................................................................................98 Distributing the Payment - Balance Forward ..................................................................................................................................99 Posting Payments and Memos......................................................................................................................................................... 100 Applying an Invoice for Later Distribution .................................................................................................................................. 101 Calculating Finance Charges ............................................................................................................................................................ 102 Correcting A/R................................................................................................................................................................................... 104 Setting Up Statements ....................................................................................................................................................................... 105 Printing Statements ............................................................................................................................................................................ 106 E-mailing Statements......................................................................................................................................................................... 108

Contact Management ............................................................................. 109

Managing Your Contacts .................................................................................................................................................................. 109 Quick View - Contact Management Folder .................................................................................................................................. 110 Using Contact Management............................................................................................................................................................. 112 Contact Management Lists............................................................................................................................................................... 113

Project Management ................................................................................115

Managing Projects at Your Firm..................................................................................................................................................... 115 Quick View - Project Management Navigation Bar Options................................................................................................... 116 Quick View - Project Management................................................................................................................................................. 118 Starting Project Management........................................................................................................................................................... 119 Setting Up a Client Project............................................................................................................................................................... 120 Adding Project Budgets .................................................................................................................................................................... 121 Adding Detail and Assigning Employees ...................................................................................................................................... 122 Scheduling Employees....................................................................................................................................................................... 124 Using Templates ................................................................................................................................................................................. 126

Project Tracking ....................................................................................... 129

Tracking the Status of Projects........................................................................................................................................................ 129 Quick View - Project Tracking........................................................................................................................................................ 130 Selecting the Project and Client....................................................................................................................................................... 131 Extending Projects ............................................................................................................................................................................. 132 Locating the Project........................................................................................................................................................................... 133 Setting the Project Status .................................................................................................................................................................. 134

Marketing.................................................................................................. 135

Marketing Your Firm......................................................................................................................................................................... 135 Quick View - Marketing Options.................................................................................................................................................... 136 Designating Mailer Recipients ......................................................................................................................................................... 137

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Getting Started with ProSystem fx Practice Management Setting Up the Mail Merge................................................................................................................................................................ 139 Setting a Default Document ............................................................................................................................................................ 141 Using Mail Merge Documents......................................................................................................................................................... 142

Security ..................................................................................................... 143

Setting Firm Security.......................................................................................................................................................................... 143 Quick View - Security........................................................................................................................................................................ 144 Security Privileges Overview............................................................................................................................................................ 145 Changing the Firm Default............................................................................................................................................................... 156 Setting Up Employee Security ......................................................................................................................................................... 157 Setting Up Passwords ........................................................................................................................................................................ 158

Remote Options....................................................................................... 159

Using Remote Options...................................................................................................................................................................... 159 Remote Workstation Connected to the Network........................................................................................................................ 160 Remote Workstation Not Connected to the Network ............................................................................................................... 161

Year End Procedures................................................................................ 165

Closing the Prior Year ....................................................................................................................................................................... 165

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