2016 Review of ProSystem fx Suite – Practice Management

• Offers solid integration with other ProSystem fx Suite products
• Product offers excellent management tools
• Available in three levels; Basic, Office, and Enterprise
• Intuitive data entry throughout the product

Potential Limitations:

• Limited integration with third party applications
• Requires use of CCH Axcess for cloud capability

ProSystem fx Practice Management is part of the ProSystem fx Suite of products designed to manage every aspect of an accounting firm. The product offers time entry capability, AR management, excellent contact management capability and solid reporting functionality.

Basic System Functions: 4.75 Stars

ProSystem fx Practice Management provides accounting firms with a host of tools designed to make time and expense entry simple, while streamlining the billing process. ProSystem fx offers an intuitive data entry screen, and provides users with a variety of time capturing options, including the availability of an unlimited number of built-in timers, with employees able to use multiple times simultaneously. The product’s main menu is easily navigated, and offers quick access to all system functions including Time & Expense Entry, Billing & Printing Invoices, Accounts Receivable, Projects, Contact Management for Clients, Administration, Print Reports, as well as a built-in report writer.

The Contact Management for Clients allows firms to track current clients, as well as prospects and leads. Managers can also analyze referral and affiliate programs as needed. The left of the screen contains an expandable menu, which offers access to system functions as well. ProSystem fx makes great use of dashboards, which provide excellent up to date information to management, and the Accounts Receivable module tracks allows users to easily enter payments, add finance charges, make adjustments to current billings, and email statements to clients. The product is designed to work in conjunction with other modules found in the ProSystem fx Suite, and offers easy integration to CCH Axcess for Cloud capability.

Time Management Capabilities: 4.75 Stars

ProSystem fx Practice Management contains an easily navigated user interface that makes it easy to track time. Unlimited timers provide users with the option to use multiple timers simultaneously, making it easier to track actual time, rather than estimates.

The product contains a built-in alert that reminds employees to submit timesheet when due, and remote access allows employees off-site to record their time from anywhere with an Internet connection. The time entry function also tracks vacation time, CPE hours, and time spent on additional projects. Tabs at the bottom of the screen offer access to options such as MTD Hours, Bank Hours, Correct Date, and Timer On/Off functionality. Users can drill down on all timesheet data, with the ability to view sick, vacation, billable, and non-billable time.

Accessibility to historic time entry data and corresponding budget information makes it easy to keep track of time while adhering to budget amounts. The availability of multiple timers also allows employees to track any project interruptions, and adjust client billings accordingly.

Invoicing Functions: 4.75 Stars

ProSystem fx offers excellent billing and invoicing functionality, with users able to quickly generate on-screen invoices, while also assigning a billing status to each client. Users can choose from a variety of bill methods including Quick Bill, Select All, Adjust Selected, Partial Bill, and Progress Bill.   The product allows users to easily email invoices directly to clients, or invoices can be printed for general mailing. There is also an option for a monthly flat-fee billing, making it easy to create an invoice automatically for recurring billings.

The Accounts Receivable module allows users to manage client balances, assess finance charges, and quickly email statements. The Billing Review option allows users to quickly view billing Recaps, WIP Detail, Invoice Review, Invoice History, Client Notes, or access a 24 Month View of all billings. Users can choose to access a particular client, or use the navigation tabs to view previous and next client data as well. From this screen, users can also change billing status or edit existing invoices as needed.  

Management Features: 4.75 Stars

ProSystem fx Practice Management offers four separate dashboard; the Firm Dashboard, which provides key period and YTD statistics for managers, along with client due dates and all WIP. The Employee Dashboard provides a quick look at weekly or monthly billable times for each employee, as well as a recap of CPE credits and productivity levels.

The Client Dashboard gives an overview of client data and analysis, and the Project Dashboard shows each project in the pipeline by assigned position, with the ability to track all projects by original date or start date. Here, users can also view project completion percentages. Project management functionality within the product allows firm employees to easily manage multiple projects, keeping track of project due dates, budget capacity, and other project milestones.

Complete integration with Practice Intelligence provides firms with a series of key performance indicators which is updated in real time to reflect the most current data available. Users can easily drill down by partner, department, location, or client name to review the data behind the totals displayed. ProSystem fx Practice Management offers more than 70 standard reports, and the Office version of Practice Manager offers more than 80 standard reports. All reports are organized in folders for easy access, and the built in report writer functionality allows users to easily customize reports to suit the needs of their firm, while offering 50 templates that can be used to create quick custom reports. All reports can be printed, emailed, saved as a PDF file, or exported to Microsoft Excel.

Integration/Import/Export: 4 Stars

ProSystem fx Practice Management works at its fullest capability when used with other available modules in the ProSystem fx Suite. Integration with CCH Axcess provides users with the ability to push data from ProSystem fx for a cloud based solution. The product also integrates with Microsoft Office as well as other third-party software applications.

Help/Support: 4.75 Stars

ProSystem fx Practice Management offers excellent help functionality throughout. The website offers access to informational videos, interactive webinars, and white papers. Users also have access to the CCH Learning Center, which offers access to over 350 self-study courses. CPE Assistance and CCH Certificate Programs are available as well. Users also have access to product support directly from the Practice Management module (and other modules in the Suite), that includes FAQ’s and product guides. Any product updates are downloaded from this area as well. Telephone and email support is included in the annual maintenance agreement.  

Summary & Pricing

Designed for mid-sized to larger accounting firms, CCH ProSystem fx Practice Management is available in three editions. The Basic edition starts at around $900.00, with discounts available for those already using other CCH products. Pricing for the Office and Enterprise versions are available upon request. For current CCH ProSystem fx Suite users, adding the Practice Management module makes perfect sense.    

2016 Rating: 4.75 Stars