Saving Trees, Tempers, Time & Money The Impact Of Special Portfolios on Workflow Within Wilder Coe Stephen Landy & Colin Dicks Wilder Coe LLP. The Right Tool For The Job…. Make Sure You Know What Outcome You Want Before You Start!. In The Beginning….
Saving Trees, Tempers,Time & MoneyThe Impact Of Special Portfolioson Workflow Within Wilder CoeStephen Landy & Colin DicksWilder Coe LLP
Make Sure You Know What Outcome You Want Before You Start!
Paper Workflow reports were circulated and discussed in meetings.
To update a Workflow, you had to click on Portfolio, then Workflow, then find the Client and click on the Yellow arrow…
Click on Edit To Access The Fields…
By Entering The Relevant Data…
Click on Update to Save Changes…
Before going back and…
For Each Individual Client.
In the Portfolio Task Pad.
There are Two Dropdown Boxes…
Select the Type Where Your Special Portfolio was Saved.
Then Select Your Special Portfolio.
Find The Client We Want To Update…
Directly Into The Relevant Box!
And Repeat for any other clients.
So Much Simpler!
An old paper “Jobs over Budget” report discussed at meetings
To update a Job budget, you had to go through Portfolio, Workflow…
Right click on the job and select View Job Details in order to…
Change the Budget Cost figure and Click on Save
Again, Quite Slow & Clunky!
We can not only update all the Job budgets very quickly…
Such as the estimated billing month and a variety of pitiful excuses in the boxes provided!
Which Are Saved As Stored Procedures.
Details of the Special Portfolio and its sources are stored here.
Each Column Has Its Own Customisable Entry.
Changes To Data Can Be Made Dependant On Which Field Is Updated.
To update our Client classification attribute, we used to have to go Client, Searchand find the client…
Then, in the Client Details area, remember to select Client Attributes…
Update the appropriate Classification, Click on Apply &…
And Do It Again For EACH Client. One at a time!
Partners reviewed & marked up any changes on paper copies of reports for Annual Returns.Then sent back to Admin dept to update system.
Info for Annual Institute Returns is easily reviewed & amended through a Special Portfolio.
Update a classification attribute field from options listed in a dropdown box.
Using PE’s hard-coded Client Status values.
And we created our own Client Status field & linked it to the main PE field. Client Status is now updated through a dropdown box, along with the Date Lost, when necessary.
Tax Job Special Portfolios have significantly increased efficiency within the Tax department.
Ticking the India box automatically populates a job with the relevant outsource tasks, and allows the outsource worker to access the job in their own workflow.
Any Issues arising are flagged and normally dealt with by phone. Special Portfolio Workflows provide an easy & efficient way to keep the Job data up to date.
This Tax Exception report immediately flags Jobs where Outstanding WIP exceeds the budget. (nb. Interim WIP Budget = Job Budget less any Fees already billed).
Before Special Portfolios Budget and Engagement Letter informationused to have to be entered into spreadsheets.
New budget data is captured through a Special Portfolio
Where the Engagement Letter data is reviewed and used in a straight forward mail merge.
What is the difference between tax avoidance and tax evasion?
Forms used to be manually filled in, printed out and sent off to London for gatekeeper approval. This could take several days with different offices involved.
If the data was incomplete (ie missing signatures etc) forms got sent back,adding to the time it took to process the request.
The request then had to be signed by gatekeeping before being sent to admin for input. A questionnaire was then completed prior to final gatekeeping approval.
The Assurance form is now completely entered through Web Engine.
The contact search feature automatically populates the fields in the assurance form.
All information entered will be stored in a secure, hidden area in the database.
Services and Jobs are also now entered during the set-up phase.
When submitted, admin first reviews the request. It is then either returned or approved.
When approved, the requestor fills in the questionnaires. KYC documentation can also be attached as PDF file .
The Partner And Manager Must “Sign” Their Own Questionnaire.
The gatekeeper then reviews the questionnaire and approves or returns it.
The Partner And Manager Must Submit Their Own Questionnaire.
It could take up to a week to finalise assurance requests in the past.Now, requests are finalised within a day & Urgent requests can take as little as an hour! How things have changed!
Special Portfolios Have CertainlyHad A Positive Impact on Wilder CoeWe Hope You’ve Seen How TheyCould Do The Same For You Thank YouStephen Landy & Colin DicksWilder Coe LLP