July 2011 - CPA Practice Advisor

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In this issue

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Sage Master Builder

800-726-6278 www.sagemasterbuilder.com Sage Master Builder is a comprehensive financial product designed specifically for mid-sized construction and contracting businesses. Sage Master Builder contains an easily navigated user interface and the job cost functionality that construction-related businesses need. The latest version of Master Builder is due out in July 2011. BASIC SYSTEM FUNCTIONS Sage Master Builder […]

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C-U-C Software — Contractor Essentials

800-272-9908 www.cucsoft.com Initially developed over 30 years ago, Contractor Essentials from CUC Software has provided construction and contracting businesses with an industry-specific product that was designed by a contracting firm. A laundry list of industry-specific modules within Contractor Essentials makes this product an excellent choice for contracting businesses of any size. BASIC SYSTEM FUNCTIONS Contractor […]

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ImagineTime, Inc. — ImagineTime Office Manager

877-520-1525 www.ImagineTime.com ImagineTime consists of four integrated modules: time and billing, due date monitoring, contact management and document management. The document management module is an extension of the core practice management and due date monitoring module, and as such, that is where the primary value of the document management component is based — in […]

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Intuit — QuickBooks Premier Contractor 2011

877-683-3280 http://quickbooks.intuit.com The Choose an Edition option utilized by QuickBooks has gained popularity in recent years. Choosing an edition when installing QuickBooks provides users with the required chart of accounts necessary to properly run their business type. QuickBooks also continues to add new features to each annual release, keeping QuickBooks fresh. While not suitable for […]

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CCH, a Wolters Kluwer business — ProSystem fx Scan

800-739-9998 CCHGroup.com 2011 Overall Rating 4.5 Best Fit Firms who want to control all aspects of the tax document automation process Organizations who use other ProSystem fx applications in their individual tax preparation process Firms who process more than 300 individual tax returns using ProSystem fx Tax Strengths One of two products in this review […]

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CCH Small Firm Services Scan&Fill

888-455-0183 – www.atxinc.com 888-455-0182 – www.taxwise.com 2011 Overall Rating 3.5 Best Fit TaxWise and ATX customers who would like to implement automated tax document filing. Tax & accounting firms, especially those with high-volume, that need a solution housed entirely on premises. Automated sorting & filing of documents in the document management system is impressive. […]

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Thomson Reuters — Source Document Processing

800-968-8900 CS.ThomsonReuters.com 2011 Overall Rating 4.5 Best Fit Firms who use the related Thomson Reuters applications (FileCabinet CS and UltraTax CS). Note: FileCabinet CS is required for labeling and organizing. UltraTax CS is required if firms want to take advantage of the data extraction feature. UltraTax CS users who have clients with significant securities trades […]

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Sage Software — Sage Timberline Office

800-628-6583 www.sagecre.com 2011 Overall Rating 5 Best Fit Sage Timberline Office is designed to meet the needs of mid-sized to large contractors and construction-related businesses. Strengths Extensive list of add-on modules Integrates with the Sage CRM product Provides 250 user-defined data fields for more comprehensive data tracking Comprehensive selection of estimating modules […]

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Intuit, Inc. — Tax Import for Lacerte & ProSeries

800-200-7599 http://lacerte.intuit.com/products/tax-import/ http://proseries.intuit.com/products/tax-import/ 2011 Overall Rating 4.5 Best Fit Lacerte Tax and ProSeries Tax Professional users who would like to reduce time spent entering data into the tax application. Strengths Innovative 1099DropOff.com website is easy to remember, and facilitates direct download of tax information from financial institutions. Client application integration into the tax software […]

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RedGear Technologies — ArkWorks

800-230 -2322 www.arkworkspro.com 2011 Overall Rating 5 Best Firm Fit Due to the scope of features and functions, ArkWorks can be deployed in both small and medium size firms to serve as an enterprise document management system. If you use the TaxWorks tax preparation software, ArkWorks is a natural first choice. Strengths Intuitive […]

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SurePrep — 1040SCAN PRO, 1040SCAN Organize

800-805-8582 www.sureprep.com 2011 Overall Rating 4.75 Best Fit Firms where more than one person is involved in the return preparation process. Organizations willing to use SurePrep’s proprietary SPBinder documentation tool. Practitioners who are comfortable using paraprofessionals to handle the majority of the data input associated with a client. Strengths Guides and certification process designed […]

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Industry Specific Software — Construction Manager

800-735-6176 www.iss-software.com 2011 Overall Rating 4.25 Best Fit Well-suited for small to mid-sized construction companies, Construction Manager contains solid financial capability along with an excellent array of job management features. Strengths Cost Management module maintains job leads, tracks all types of client contact & maintains detailed history on all clients Historical estimating option […]

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Technology

Copanion Inc. — GruntWorx Populate

800-291-2136 www.copanion.com 2011 Overall Rating 4.5 Best Fit While the GruntWorx Gather, GruntWorx Organize, and GruntWorx Trades services create files that are compatible with almost any tax application or document management tool, the GruntWorx Populate tool integrates fully with GoSystem Tax RS, ProSystem fx Tax or UltraTax CS. Strengths Firms can process as few […]

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Technology

Office Tools Professional — Practice Management 2011

661-951-9200 www.officetoolspro.com 2011 Overall Rating 4.75 Best Firm Fit Practice Management 2011 is best suited for firms with five to 10 users. Office Tools Professional also serves more than 100 offices with 15 to 60 users. Strengths Integrated suite of office productivity tools (document storage, contact management, time & billing, project management, scheduling) Reporting […]

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CYMA Job Cost Accounting

800-292-2962 www.cyma.com 2011 Overall Rating 4.5 Best Fit Well-suited for mid-sized general construction companies who require solid job cost functionality and tracking without specialized contractor features like equipment management or dispatch. Strengths Scalable, modular design Customizable eDesk interface for central navigation Strong job cost functionality System automated billings Allows any document to be […]

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Peachtree by Sage — Peachtree Premium Construction Accounting 2012

800-388-4697 www.Peachtree.com 2011 Overall Rating 4.5 Best Fit Peachtree continues to add product features and enhancements that make this popular product a terrific fit for the small construction company or contractor looking for a solid entry-level product that contains job-specific functionality. Strengths My Dashboard includes 11 new module options Remote access available Easily […]

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Management Information Control Systems (MICS) — Builder Information System (BIS)

800-838-6427 www.bissoftware.com 2011 Overall Rating 4.75 Best Fit: All editions offer construction and contracting businesses a fully integrated modular system that is suitable for businesses small and large. Strengths: Scalable with four editions Remote access capability a plus for Enterprise edition My Jobs dashboard provides excellent recap of all system jobs Handles multiple […]

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A-Systems Corporation — A-Systems JobView

800-365-6790 www.a-systems.net 2011 Overall Rating 4.75 Best Fit: JobView is ideal for small to mid-sized construction and contractor businesses, but available in three versions that can take a small construction company through any growth transitions. Strengths: Scalable with three editions Overview & summary screens offer solid financial information for each company or project […]

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Technology

eTEK International Inc. — eTEK for Microsoft Office 2010

eTEK International Inc. — eTEK for Microsoft Office 2010 800-888-6894 www.etek.net From the July 2011 Review Construction and Contractor Accounting Systems Best Fit: eTEK is scalable and an excellent choice for smaller construction companies in need of good job cost functionality that need to upgrade from entry-level products. eTEK for Microsoft Office is a […]

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Foundation Software — Foundation for Windows

800-246-0800 www.foundationsoft.com 2011 Overall Rating 5 Best Fit: Foundation contains a laundry list of features well suited for construction businesses of varying sizes and trades, particularly those a step up from small mom and pop contractors with 1-10 employees and less than a million in annual revenues. Anything above that would benefit from […]

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Drake Software — Drake Document Manager

866-670-8471 DrakeSoftware.com 2011 Overall Rating 4.5 Best Firm Fit: Drake Document Manager is designed to serve as an extension of the Drake tax and write-up applications and will, therefore, be a natural solution with great value for firms that are using these systems. Strengths: Direct integration with Drake tax preparation, planning & write-up […]

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Technology

10 Products to Investigate for Document Storage

One of the challenges in writing these reviews is to explain the delineation between document management and document storage solutions. I don’t think it is worth dwelling on this too much because the distinction will become apparent as you dig deeper into the different solutions in both categories. At the end of the day, it really comes down to an issue of scope of functionality.

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Technology

AccountantsWorld — CyberCabinet

888-999-1366 www.accountantsworld.com 2011 Overall Rating 4.5 Best Firm Fit: CyberCabinet is best suited for sole practitioners and small firms who provide accounting, payroll and tax services. If your practice can use the Accountants Relief and Payroll Relief applications, you can have a solid online platform for running your practice without the hassle of […]

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Technology

Intuit — Lacerte/ProSeries Document Management System

800-765-7777 http://lacerte.intuit.com/products/tax/document-management-system http://proseries.intuit.com/products/dms 2011 Overall Rating 4.75 Best Firm Fit: If your firm is using either the Intuit ProSeries or Lacerte tax preparation systems, then DMS is the natural first choice. It provides some functionality that can legitimately facilitate its use to manage the storage of all of your firm’s electronic documents. […]

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Technology

CCH Small Firm Services — ATX & TaxWise Document Manager

888-455-0183; www.atxinc.com 888-455-0182; www.taxwise.com 2011 Overall Rating 4.75 Best Firm Fit: If you are using either the ATX or TaxWise tax and/or accounting software applications, then the Document Manager is a natural choice simply because of the direct integration with those applications. Strengths: Integrated suite of small firm tax & accounting applications Integrated […]

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Technology

SmartVault Corporation — SmartVault

713-479-5400 www.smartvault.com 2011 Overall Rating 4.75 Best Firm Fit: The nature of the SmartVault model positions it as a solution that can be utilized in any organization. The existing integration with QuickBooks increases its value in firms that use QuickBooks. Strengths: Cloud solution providing anytime, anywhere access & redundant data backup Encrypted transmission and […]

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Technology

Computhink Inc. — ViewWise

800-988-4465 ext 1 www.computhink.com 2011 Overall Rating 4.75 Best Firm Fit: ViewWise is a good fit for small and mid-size firms that want a system to manage documents across the entire firm, not just for client tax and accounting files. Strengths: Integrated suite of “paperless” applications Depth of document security controls Integration with MS Office […]

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Technology

The Future is Mobility, Collaboration & SaaS

>> 2011 Awards Honor Advances in Technology

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Cloud Technology

How to Stay Ahead of the Curve

As I write this article, I’m on a flight to the California Accounting & Business Show & Conference — the venue for announcing this year’s Innovation Award winners. In addition to the awards presentation, we will also be recording a series of interviews with software executives and industry thought leaders. Our team has been working […]

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Cloud Technology

10 Questions Every Partner Should Ask Their IT Team

The majority of tax and accounting firm partners spent the last few months focused on tax, audit and accounting production, but with the busy season behind us, there is an opportunity to take a look at how processes can be improved during the slower summer months. Partners should use this time to meet with IT […]

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Cloud Technology

Paradigm Shifts in Accounting Technology

Regardless of how disruptive new innovations are, they are an inevitable characteristic of our evolving business environment, just as innovation is fundamental to human evolution. And it’s smart business to seize opportunities created by these new innovations. Twenty-five years ago, it was a revolutionary idea for a small business owner to purchase a computer and […]

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Technology

Are You Ready for a Smoother Running Firm?

Electronically Stored Information (ESI) has become critical to delivering good client service, higher realization, effective procedures or workflow, and better efficiency. Managing ESI is also critical for controlling risk. If your firm tries to work with ESI the same way you worked in paper, you can expect problems, issues and frustration. If you are working […]

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Technology

The Right Tool for the Right Job

One of the things that is hard to get across in tough times is that a well-timed investment in the right tool for a tough job makes all the difference between struggling and thriving. During the summers in college, I always had jobs that involved getting very dirty using my hands and tools to get […]

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Firm Management

Tax Document Automation Tools Come of Age

This is our first annual review of tax document automation tools. While we have presented feature articles on this topic in the past, this category is rapidly maturing to include some common feature sets. Internal estimates from vendors based on data provided to CPA Practice Advisor suggest that around 1% of all individual income […]

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Firm Management

How Value Pricing Built a Practice & Saved a Father-Son Relationship

Sometimes, things need mixing up. Chris Farmand, who grew up in a Florida family centered around the accounting practice led by his father and two uncles, was destined for a career in accounting. His parents knew it, the rest of his family knew it, and his teachers knew it. But even though he’d been in […]

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Advisory

Cornering the Market on Premium Outsourced Accounting Services

From Finding Their Legs to Finding a Distinct Niche Jennifer Katrulya, CPA, and owner of BMRG admits that there was a harsh learning curve to get her firm where it is today. And where is that exactly? The bright lights of Supa-Successville! Katrulya, like many firm owners, did her time in the world of public accounting and corporate offices. “I left my last firm in 2004 to start my own practice,” she recalled.

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Construction Vendors Turn to Mobile Communications & Tools

It’s no secret that the construction industry is one of the industries hardest hit by the past recession. The U.S. Department of Commerce states that residential construction in March of 2011 is down 8% from March of 2010. Non-residential and commercial construction is even worse, with a 10% decrease in new construction. The good news […]