2020 Review of Canopy Practice Management

New features in Canopy for 2020 include a Deposits Dashboard, which provides a real-time view to all bank account balances and current cash flow. Also new is the option for clients to pay invoices in the client portal, storing payment information that can be used for future invoices. Users can also save and preview any email attachment and save tax forms directly to a client file for easy future access.

Adding a new contact in Canopy is easy, with users able to create contact information for both individuals and businesses.

Canopy offers complete time tracking capability with unlimited timers available. Users can set up a timer during the application setup process, with the ability to round up to the nearest increment, which can include the nearest minute, quarter hour, half hour, or hour. Once users click on the timer, additional information can be added. Timers can be used simultaneously or started and stopped as needed. Beside using the built-in timer, users can add a time entry to any active project in Canopy, with an option to add notes to any time entry if desired. All time entries can be edited, and users are able to view all billed and unbilled time from the Time Entries dashboard. Managers can view and edit time for all staff members from the dashboard as well, and any time entry can be added to any invoice for billing.  

Canopy includes excellent invoicing options, with users able to bill using time entries, as well as any customizable or add-on services. To make it easier to bill for add-on service, users can add service items to the application. Users can create both standard and recurring invoices in the application, while also setting up recurring payments on authorized payment dates from clients in Canopy. The billing dashboard provides users with a summary of all invoices due, a list of recurring invoices, as well as both current and past due invoices, while the billing dashboard provides users with a list of all invoices, along with the client name, invoice date, and current status of each invoice.

Canopy includes excellent CRM capability, with users able to track client communication and requests. In addition, users are able to create custom fields for tracking additional information. A client portal is also available with firms able to easily share tax forms, engagement letters, invoices, and other documents with clients. Users can invite clients to use the portal, and users are notified when a client accepts the portal invitation, as well as any time a client accesses or uploads a file. 

Canopy currently has a Tax Prep module that is in beta release and includes a tax organizer, along with e-filing capability for both federal and state forms, and eSign capability for Form 8879, with Canopy users able to track all e-filed forms.  

Those interested in workflow solutions will appreciate Canopy’s ability to track progress on a task or project, as well as the ability to create custom task templates for easy task setup. Users can also sync calendars in the application if desired.

Canopy offers a variety of time and billing reports including an Aged Receivables Summary, Revenue by Team Member, Revenue by Contact, Hours Tracked by Service, and Hours Tracked by Team Members. All reports can be exported to a CSV file for customization if desired.

Canopy includes a variety of support options, including a searchable knowledgebase with getting started guides available. The support library offers access to numerous support articles, and a community forum is available as well. Chat-based, email and telephone support are included.

The application includes integration with Zapier, making it easy to connect with more than 2,000 apps, including Salesforce, QuickBooks Online, FreshBooks, Xero, Slack, and Microsoft Office applications such as Excel and Word.

Canopy currently offers two plans, Basic and Standard, with a Pro plan in the works. Pricing is based on the number of contacts: the Basic plan is $894 per year for 200 contacts; the Standard plan is $1,073 for the same number of contacts. Both plans include an unlimited number of users, the client portal, mobile app, document management, and invoicing, although time tracking or project management capability is only offered in the Standard plan.

2020 Rating – 4.5 Stars

Strengths:

• Pricing includes unlimited users
• Client portal included at no extra cost
• Mobile app available

Potential Limitations:

• Complete practice management only available in higher tier
• Reporting options