2012 Readers’ Choice Awards

Insight: This category was the largest for this year’s Awards, with 47 products represented, ranging from simple file structure storage programs to enterprise-ready systems that can be used to manage retention, offer client collaboration utilities and have automated workflow capabilities. The top receivers of votes this year were Drake for the Drake Document Manager that’s included with their tax system, followed by eFileCabinet, Intuit’s Document Management System for Lacerte and ProSeries, the combined votes of Thomson Reuters’ FileCabinet CS and GoFileRoom, SmartVault and Office Tools Pro.

See our review of Document Management and Document Storage systems at: www.CPAPracticeAdvisor.com/10271301 and www.CPAPracticeAdvisor.com/10281536.

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Document Management Utilities

Insight: The paperless office not only requires effective document management and storage, but until we live in a totally digital world it also requires a means of transferring paper files into digital files. This isn’t only the realm of scanners, but of specialty tools that help bridge the gap. This year’s runaway winner was Fujitsu, for the ScanSnap and software that accompanies it, followed by HP and Canon for similar utilities.

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Tax Document Automation

Insight: The new movement is towards zero data entry, or as close to it as possible. And that is possible, using new tax document automation systems that electronically examine scanned documents to determine what form they are, and what the data is, then transfers the information into workpapers or a return. Although only about 10% of our voters had a preference in this category, look for it to grow in the near term. This year’s leaders were Intuit’s Tax Import for Lacerte & ProSeries, CCH’s ProSystem fx Scan and Thomson Reuters’ Source Document Processing.

Read more about Tax Document Automation at: www.CPAPracticeAdvisor.com/10453832.

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Workflow Comprehensive End-to-End

Insight: The definition and reality of what workflow actually is varies at every firm, but in the big picture it’s almost everything, from how client documents come in and invoices go out, to how review processes work and engagements are managed. There are two approaches to the concept of workflow, one at that larger level and also at a specialty tool level. For the higher end, this year’s top vote receivers were Office Tools Pro,Thomson Reuters, CCH and XCM Solutions.

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Other Workflow Tools

Insight: There are also tools for aiding workflow for specific tasks and engagements. This year’s leaders in this category were Drake, eFileCabinet, Intuit, Thomson Reuters and Office Tools Pro.

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Website Builders for Accounting Firms

Insight: Every business needs a website and fortunately, there are a lot of options for quickly using templates and other technologies to get up and running with a professional-looking one. For accounting firms, there are even several vendors that make website building kits that just about anybody can use, no web development skills necessary, and the result can be great content for your clients and visitors. Since Drake gives a free basic website to all of the firms that use their tax package, it’s no surprise that their users heartily voted them in the number one space again this year, followed by CPASiteSolutions, Intuit Websites, CCH’s Site Builder and Thomson Reuters’ Web Builder CS.

Read more about Website Building Tools for Tax & Accounting Firms at: www.CPAPracticeAdvisor.com/10352695.

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CLIENT SIDE ACCOUNTING SYSTEMS

Insight: Small businesses rely on their public accountants for more than just bookkeeping, write-up, payroll and tax services, they also turn to them for many of their other business concerns, whether it’s managing growth, helping trim waste, planning for expansion and many other areas. In fact, when it comes to the selection of what bookkeeping system they should use, they listen to their accountant as experts in financial solutions.

Whether or not all firms exercise their influence by guiding clients to certain programs, the applications they use have a direct impact on the firm, since the professional must work with their data and often with the program itself. This is one of the reasons QuickBooks continues to dominate the small business accounting space. Whether individual accountants think the program is great, good enough or not their favorite is often not as important to firm workflow as getting most or all clients onto the same system: It eases training, data transfer, accountant access and other matters.