August 2011 - CPA Practice Advisor

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In this issue

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Imaging Science & Services, Inc. — TEAMS & LineLink

866-723-7409 www.issimage.com With thousands of jurisdictions across the country that have varying sales and use tax rates, the various filing requirements and frequencies of the 45 states that have sales taxes, and the potential penalties that can result from errors or missed deadlines, sales tax compliance can be complicated enough. But another significant challenge for […]

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Avalara — AvaTax

877-780-4848 www.Avalara.com 2011 Overall Rating 4.75 Best Fit Businesses with sales across dozens, hundreds or even more taxing jurisdictions across the United States and Canada, with the need to automate tax rate lookup into their sales and ecommerce systems. Strengths Seamless integration into accounting system Rates are maintained by Avalara, no updates required […]

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Thomson Reuters — ONESOURCE Indirect Tax, Sales & Use Managed Services

888-885-0206 http://onesource.thomsonreuters.com/indirect-tax/ 2011 Overall Rating 5 Best Fit Mid-sized and larger enterprises with significant sales tax liability exposure across a large number of jurisdictions who want to automate rate management and outsource compliance functions. Strengths Complete tax lifecycle management from tax determination to returns preparation & remittance Automated rate lookup & application Hands-free/hassle-free […]

Engagement Products Bring Workflow Improvement to Firms

Every firm, no matter the size, should be using either an engagement (audits, review, compilations, etc.) or trial balance (write-up work) system. In the past, engagement and trial balance software packages were “islands” of information that did not communicate very well with other systems. The first integrations were with other tax preparation systems. Now that […]

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Solid Innovation — Solid Sales Pro

888-667-3769 www.Solid-Innovation.com Solid Sales Pro from Solid Innovation offers retailers a mobile POS system designed for remote sales transaction processing including field sales, showroom sales and tradeshow ordering. Solid Sales Pro easily handles both customer ordering tasks and contains inventory management capabilities. The system is available in a QuickBooks Pro Edition for QuickBooks (QB) integration […]

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PDG Software Inc.

866-433-4PDG (4734) www.pdgsoft.com PDG Software, the makers of shopping cart and e-commerce software, offers simple real-time integration with QuickBooks (QB) products. It is fully scalable, offering four versions: PDG Lite, which can be used for up to 100 products; PDG Pro, which is designed for up to 1,000 products; PDG Gold, which can handle up […]

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NetSuite — OnSite POS

877-NETSUITE www.netsuite.com Users of NetSuite in the market for an integrated POS product may want to take a look at OnSite POS. Designed specifically for NetSuite, OnSite POS provides small to mid-sized retailers a point-of-sale product that completely integrates with all NetSuite modules, eliminating the need for data exporting or time-consuming data entry. Multi-location retailers […]

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Technology

AccuPOS Point of Sale

877-888-0880 www.accupos.com AccuPOS Point of Sale is a stand-alone POS product designed for use in the retail and restaurant industry. AccuPOS is designed to flawlessly integrate with a variety of popular accounting programs including all QuickBooks financial products, Peachtree products, Sage BusinessWorks and Simply Accounting. Available in five different versions (Basic, Pro, Gold, Platinum and […]

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Technology

Wasp Barcode Technologies — QuickStore POS

866-547-9277 www.waspbrcode.com 2011 Overall Rating 4.5 Best Fit QuickStore is available in three editions and works with retail businesses of all types and sizes, but is not suitable for grocery stores or restaurants. The company offers a complete line of POS-related hardware and bundled products. Strengths Scalable, with 3 versions available Easy to […]

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Technology

Sage North America — DacEasy

800-322-3279 www.daceasy.com 2011 Overall Rating 4.25 Best Fit Well-suited to smaller businesses that also require POS capability, DacEasy is a good front/back office solution to businesses that offer products for sale but do not handle hundreds or thousands of transactions daily. Strengths Easy setup & little training time required Great dashboards provide immediate […]

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Intuit — QuickBooks Point of Sale Pro

866-379-6636 www.quickbooks.com 2011 Overall Rating 4.5 Best Fit QuickBooks offers smaller retailers a solid, affordable POS product, in two editions, that contains several top-notch features normally found in more sophisticated products. Smaller retailers will appreciate the level of features found in QuickBooks POS. Strengths Quick installation & quick setup Little training time required […]

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Technology

InfoTouch Corporation — Store Keeper POS

800-678-8682 www.infotouch.com 2011 Overall Rating 4.25 Best Fit Store Keeper is a good fit for smaller retail establishments with only one location, but who still desire a custom user interface for use with touch-screen monitors. The vendor also offers Store Manager for multi-location shops. Strengths Highly customizable touch-screen technology Easy to setup & […]

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Technology

ECR Software Corp. — Catapult

800-211-1172 www.ecrs.com 2011 Overall Rating 4.75 Best Fit Touch-screen technology comes standard with Catapult, and the add-on modules designed for specialty retailers like drug stores, grocery stores, convenience stores and other specialty stores make this a good fit for high-volume retailers that require a high level of customization. Strengths Default touch-screen monitor functionality […]

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Technology

Cougar Mountain Software — DENALI Retail/POS

800-388-3038 www.cougarmtn.com 2011 Overall Rating 4.5 Best Fit DENALI opens up the market sector considerably for Cougar Mountain Software. While still an excellent selection for small to midsized retail businesses, DENALI is also powerful enough to appeal to larger, multi-location stores with more complex needs. Strengths Modular design allows users to choose the […]

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Technology

Celerant Technology Corp. — Celerant Command Retail

718-605-7733 www.celerant.com 2011 Overall Rating 5 Best Fit Both brick-and-mortar and online stores will appreciate Command Retail’s extensive options, all designed to make retail management more efficient. While retailers of all sizes can utilize Command Retail, its long list of features and multi-location capability make it a great fit for larger retail businesses […]

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CAM Commerce — Retail STAR/Retail STAR Lite

800-726-3282 www.camcommerce.com 2011 Overall Rating 5 Best Fit Retail STAR is well suited for larger retail businesses that offer both brick and mortar and e-commerce sales. The partner product, Retail STAR Lite is a great starter product for small, single-location retailers looking to utilize many of the features found in larger POS products. […]

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Technology

12 Products to Help Your Retail Clients

It’s no secret that the retail industry has struggled in this difficult economy. Yet Advance Monthly Sales for Retail and Food Services, as reported by the U.S. Census Bureau, show an increase in total sales in May 2011, up 7.7% from May 2010. While numbers were down from the previous month (April 2011), indicating that […]

PCAOB

Specialized Tools Aid in Audit Engagements

Audits are not the realm of only the Big 4 and other very large practices. Many small and mid-sized firms also offer A&A services to their clients. But audits can certainly be complex and labor intensive, not to mention the considerable regulatory obligations that accompany them. With the right tools and services, such as those in this section, even small firms and sole practitioners have found audit services to be a valuable and highly sought after offering.

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TaskTracker Keeps an Eye on Due Dates

ACI Systems Inc. — TaskTracker 800-749-3554 http://acisystems.net ACI TaskTracker is a simple due-date tracking program developed for accounting and tax firms, offering tools for monitoring federal and state compliance due dates. While the system is primarily focused on income and franchise tax returns, and includes more than 150 predefined reports for those items, it also […]

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CLI Offers Comprehensive Practice Management Solution

Commercial Logic, Inc. — Advance Practice Management 603-643-1900 www.cli-usa.com APS Advance Practice Management, offered in the U.S. by Commercial Logic, Inc., is a widely used practice management system, and is part of the broader APS Suite, which includes document management, CRM, resource planning, online business intelligence and business process automation. The system is designed to […]

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Technology

Practice Management Products Play Part in Promising Future

Practice management software has evolved over the years from programs that did little more than time and billing to completely integrated technologies providing firm partners and managers with real-time data related to productivity and financial performance. As comprehensive systems, they give firm owners tools to perform a detailed analysis in their practices in terms of […]

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Thomson Reuters — Practice CS

800.968.8900 CS.ThomsonReuters.com 2011 Overall Rating 4.75 Best Firm Fit Firms wanting strong dashboards and Outlook integration, particularly those using other Thomson Reuters CS Professional Suite applications. Strengths SaaS version available Powerful integration with the rest of the CS Professional Suite Useful dashboards with drilldown capability Can internally process credit card payments & ACH […]

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Office Tools Professional — Practice Management Software

661-951-9200 www.officetoolspro.com 2011 Overall Rating 4.5 Best Firm Fit Small to mid-sized firms not currently using a completely integrated suite of tax and accounting products. Strengths Integration with Lacerte, QuickBooks & Outlook Interface is easy to navigate & is focused on the client Strong contact management capabilities, including social media The only practice […]

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CCH, A Wolters Kluwer business — ProSystem fx Practice Management

800-739-9998 opt. 1 www.cchgroup.com 2011 Overall Rating 4.25 Best Firm Fit Firms wanting powerful time, project, marketing and client management features, particularly those using other components of the ProSystem fx Suite. Strengths Strong integration with ProSystem fx Suite, Sage Abra Payroll, and Sage MAS 90, 200 and 500 Great features for tracking marketing […]

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CaseWare International Inc — CaseWare Time 2011

800-267-1317 www.caseware.com 2011 Overall Rating 4.25 Best Firm Fit Firms currently using CaseWare Working Papers. Strengths Integration with CaseWare Working Papers Scalable & works well for multi-partner and multi-location firms Layout & Windows Explorer-like Document Manager will be familiar to CaseWare Working Papers users Potential Limitations Does not track accruable employee benefits No complete […]

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CFS Tax Software, Inc. — CA and NY Sales Tax Preparer

800-343-1157 www.taxtools.com 2011 Overall Rating 4 Best Fit: Small and mid-sized businesses with multiple locations and reporting requirements in CA or NY, or firms managing multiple businesses with such requirements. Strengths: Easy to use Gross summary reports E-filing to CA PDF output Good client communication templates Multi-client management tools Automation of system […]

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Electronic Sales & Use Tax, Inc. — eFileSalesTax.com

877-584-2309 www.eFileSalesTax.com 2011 Overall Rating 4.25 Best Fit: Generally small and mid-sized businesses, or accounting firms managing multiple such businesses, with filing requirements in CA, CO, FL or IL. However, some very large national retail outlets also use the system, particularly for CA and CO. Strengths: Very easy-to-use E-filing of returns to […]

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BNA Software – BNA Sales & Use Tax Rates and Forms

800-424-2938 www.BNAsoftware.com 2011 Overall Rating 4.5 Best Fit: Mid-sized and larger businesses with growing SALT compliance complexity, and firms managing compliance for multiple entities. Also businesses wanting comprehensive tax tables for export into their live sales and accounting systems. Strengths: Very easy-to-use Comprehensive: All U.S. jurisdictions PDF, Excel, XML, CSV, Text output […]

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TrustFile, an Avalara Company — TrustFile Sales & Use Tax

877-222-0187 www.TrustFile.com 2011 Overall Rating 4 Best Fit: Businesses wishing to e-file their sales and use tax reports for multiple location businesses in one or more of the 12 supported states, and those who wish to electronically pay these liabilities. Strengths: Simple navigation & function E-filing to each of the supported states PDF […]

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SpeedTax — SpeedTax Core, Plus & Pro

888-349-2441 www.SpeedTax.com 2011 Overall Rating 4.75 Best Fit: Businesses with increasingly complex sales tax management and reporting needs across multiple jurisdictions that are looking to integrate real-time sales tax rates and calculations into the business’ sales platforms. Strengths: Integrated, real-time rates & calculations Multi-user review/sign-off processes E-mail due date & workflow reminders […]

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Thomson Reuters — Engagement CS

800-968-8900 CS.ThomsonReuters.com 2011 Overall Rating 4.25 Best Firm Fit Firms that utilize PPC Practice Aids should consider this product. The seamless integration with the PPC Practice Aids will allow for increased productivity and quality during the execution of engagement tasks. Strengths Integration with PPC Practice Aids Integration with other Thomson Reuters products, including […]

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CCH, a Wolters Kluwer business — ProSystem fx Engagement

CCH, a Wolters Kluwer business – ProSystem fx Engagement 800-739-9998 CCHGroup.com From the August 2011 Review of Engagement & Trial Balance Systems Best Fit: Firms that are trying to maximize overall engagement efficiency with integration with other CCH and third-party applications. Basic System Functions: CCH ProSystem fx Engagement uses a familiar Microsoft Explorer user […]

CCH ProSystem fx Trial Balance

The CCH ProSystem fx Trial Balance product is an “after the fact” trial balance and accounting product that allows multiple users to access files. The product is best suited as a tool for client write-up where the bookkeeping is performed in another application, as the product does not include the subsidiary ledgers normally included in […]

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CaseWare International Inc — CaseWare Working Papers 2011

800-267-1317 www.caseware.com 2011 Overall Rating 4 Best Firm Fit: Firms that are looking to gain significant efficiencies in their financial reporting (no matter the size of the firm). Strengths User interface & intuitive workflow Strong financial reporting module SmartSync’s fast “real-time” collaboration Potential Limitations: No web hosted version currently available Summary & Pricing […]

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Advisory

The Human Touch: Using Technology to Maintain Real Client Relationships

Accountants have long had a reputation as being somewhat reclusive, perhaps even seen as professional hermits, because of the nature of many of the traditional services they provided.

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Technology

The Insecurities of Email

Email has been around a long time and has evolved into a mission-critical resource to deliver documents and communicate with clients. It’s the default for most businesses — convenient, easy and mature — and has all but replaced time-consuming faxing and manual delivery of documents. However, while email has been a trusted delivery tool for […]

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The Key to E-Mail Marketing for Small Organizations

One of the ways successful firms are continuing to grow during the current economic downturn is by finding new and existing clients with targeted, personalized service. Large firms have used customer relationship management (CRM) and contact management systems for years to manage sales activities, track correspondence, and log contact with current and prospective customers, but these systems are frequently not used by small firms that don’t have dedicated marketing departments.

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Rule #1: Cash is King

I first heard this phrase growing up around a couple of entrepreneurs/accountants — my parents and grandparents. My grandparents always had their own company. Granddad was the salesmen and grandma was the accountant. My parents were the same except Dad was more product visionary than sales and mom was the back office, including accounting. They […]

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5 Tips for Building a Professional Web Presence … and Why You Should Do it Now

All of us seem to be exceptionally busy this summer — attending classes, conferences and online sessions in the ongoing pursuit of complying with CPE requirements. Personally, I enjoy each and every event because it offers the opportunity to meet with practitioners and stay apprised of concerns, trends and triumphs. In my travels, one key […]

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Technology

Improve Your Practice With SaaS

There are ample articles trying to convince you of the value of Cloud Computing. There are three primary application approaches for the cloud: 1) Backup, which we have reviewed in prior columns covering products like NetRescue, Gillware and eFolder, 2) Hosting, including companies like CPAASP InsynQ, Awensa, Cloud 9 and Real Time Data Services, Thomson […]

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Staying on the Good Side of Growth

Here’s the reality. Most accounting professionals, when it comes to marketing, are highly reactive. They’ve developed some good content, have a few pieces of collateral on hand, and are sending out communications here and there. The reactive environment can be deceptive because things consistently appear to be moving along. And if things are moving, that’s […]

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Technology

Going, Going, Gone … Mobile

Freed Maxick & Battaglia (FMB) didn’t become a Top 100 firm by avoiding change. In fact, the firm can best be described as the most rapid of rapid adopters — just all in good time. This is not meant to confuse anyone, but is testament to FMB’s stance on staying ahead of change by first thoroughly researching and testing new innovations.

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Technology

5 Reasons Not to Block Social Media in the Workplace

The dilemma regarding Internet usage by employees during work hours has long been one of discussion by business owners, human resources professionals, IT professionals and staff. During the late 1990s, the concern was largely that of distrust over the new technology and countless dramatized stories about employers using their computers to access pornography, gambling and other inappropriate content.

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Technology

The 7-Step Technology Audit

As technology is increasingly woven into the fabric of business management and operations, it becomes more necessary to evaluate technology utilization and prepare for management an assessment of the threats and opportunities available.

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Conquering the Challenges of Sales & Use Tax

Sales and use tax compliance is an area of widely varying complexity. For many of the smallest entities that conduct taxable transactions, particularly physical retail businesses with only one or two locations, the process of applying the appropriate tax rate and reporting it to their states is often quite simple. And almost all states that […]

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Technology

The 7-Step Technology Audit

As technology is increasingly woven into the fabric of business management and operations, it becomes more necessary to evaluate technology utilization and prepare for management an assessment of the threats and opportunities available. In the area of threats, there is the risk involved in an inadequate backup and document archiving system. Weak policies regarding employee […]

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Technology

How to Supersize a Happy Meal Firm Bio

How do you make a silk purse out of a sow’s ear? Said another way, how can you transform the tried-and-true firm bio into something more than a ho-hum template piece of writing that resonates with clients and prospects? ** MarketingWorks: an Online Exclusive column ** A Little Back Story Recently, I was asked to […]

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Technology

Why Firms Must Advance Women

The next generation of top accounting professionals will bear little resemblance to the male-dominated leadership ranks currently occupying corner offices, according to the recently released 2011 Accounting MOVE Project Executive Report (“2011 Executive Report”). Since over half of today’s accounting grads are women, public accounting firms must rapidly realign professional development programs to reflect the […]

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Thomson Reuters Trial Balance CS

800-968-8900 CS.ThomsonReuters.com The Thomson Reuters Trial Balance CS product is a working trial balance accounting product that allows multiple users to access the file. When paired with the Thomson Reuters Engagement CS product, many features are added, including the engagement workflow and binder. The primary limiting feature on this product is that it only allows […]

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Pendock Mallorn — Accounting for Practitioners

800-567-4500 www.pendock.com Accounting for Practitioners is a one-of-a-kind “after the fact” package used for write-up and trial balance engagements. It is a Microsoft Excel-based product that is essentially an Excel plug-in (2003 and newer versions). The user downloads the software on their individual computer and creates files for each engagement. The files can be saved […]