Customer of the Month – October 2009

David Knoble, CPA, PLLC

Pineville, NC

www.KnobleCPA.com

A North Carolina CPA for 17 years with a master’s degree from the University of North Carolina at Chapel Hill, David Knoble focuses his firm on small business matters.

“We understand that a small business owner or entrepreneur has vastly different needs than a larger company. We are a smaller CPA firm and are equipped to handle those needs.

“Central to our services is assisting clients in making educated decisions regarding tax and finance issues. We help them analyze their current positions. We provide expert tax advisory services as well as audit, review and compilation services. And of course, we provide consulting services.”

David is involved in his profession and his community. He is a member of the AICPA, NCACPA, the Charlotte HBA, and vice-chairman of the CMS Bond Oversight Commission. His community activities include being a member of the Community House Middle School SLT and a leader with the Boy Scouts of America since 1992. He is active in writing, with published articles in the National Homebuilder’s Association magazine. David is also an avid photographer and has written a book on photography.

How has BillQuick helped you in your business?

“We have experienced six direct, measurable benefits to our firm from the use of BillQuick. These benefits center around:  timekeeping, data entry, consistency, better management of WIP (unbilled time), and a better ability to monitor firm performance.  We saved money and improved performance.

“Even though we are a smaller firm, we still have performance metrics similar to the larger firms – billable hours, effective rates and write-ups/write-downs. ”

Did you try other solutions?

“We tried QuickBooks but it failed to handle these items. We also checked out competing products but none offered must-have tools in the same price range as BillQuick.”

Please share examples of the benefits from BillQuick?

“We have saved approximately 1 hour per employee per week inputting time with BillQuick’s detailed timers. We can better capture work spent on an engagement (project).  This includes increasing the level of detail that we capture by using the AICPA-recommended time categories.

“Another time capture benefit comes from BillQuick’s rounding of recorded time. This has increased our profitability by over 1/2%.  Rounding to increments of 15 minute blocks increased hours to bill, something we couldn’t do with QuickBooks.

“BillQuick’s advanced budget tracking is also important for us. We have increased our ability to estimate work. Today, we are typically within 5% of our budgeted time on a project.

“There’s also decreased cash collection time. The cycle from the start of an engagement to billing and collection is shorter.  We regularly review work in progress reports to see where we have spent time that remains unbilled.  This has helped us prioritize projects we have spent more time on, but not yet completed and billed, decreasing the span of time to finish the project.

“Finally, we continue to increase our average net billing rates — total dollars billed / all actual hours worked — through analyzing our employee time reports.

“Added to these benefits is BillQuick’s seamless integration with QuickBooks. Our company’s financial statements and cash flow statements are always up-to-date and accurate.

“Our conclusion is that during the first six months we have saved significantly more dollars than the cost of purchasing and installing BillQuick.”