Why it matters
The collection process decides how quickly a firm can close the month, prepare a return or onboard a client. A firm that collects well spends less time chasing and more time on the work the client pays for.
Example
A firm sends a monthly checklist, the client finishes it on a phone, the firm reviews the files, sends back one wrong file and files the accepted documents in the client's folder. That is document collection.
Related terms
Questions about Document collection
What is the hardest part of document collection?
The follow-up. Asking once is easy; knowing which items are still open, reminding the right client and stopping when everything is in is the part that needs a system.