Accounting Technology articles from April 2004

Accounting Technology archives from April 2004

Knowing the tech talk.(certified public accountant)(Customer Relationship Management)(Editorial)
April 1, 2004... There's always a question of just how much technology accountant professionals should know. How interested should they be in topics such as Supply Chain Management, Customer Relationship Management, and other concepts from the happy land of...

BKD does HIPAA services.(Practice Development News)(BKD Technologies)(Health Insurance Portability and Accountability Act)(Brief Article)
April 1, 2004... BKD Technologies has become a RiskWatch reseller and will market that vendor's HIPAA-Watch for Security software to help organizations comply with HIPAA requirements regarding IT security and privacy. The software is designed to simplify...

YCO closes.(Practice Development News)(Your Corner Office)(Brief Article)
April 1, 2004... Your Corner Office, an online consulting operation originally co-owned by the Houston-based accounting firm of Mir Fox Rodriguez, has been shut down by Supreme Holdings, a publicly held company that acquired YCO and operated it for eight...

Tectura buys Sensible.(Sensible Software Inc.)(Brief Article)
April 1, 2004... Tectura, a Tempe, Ariz.-based reseller, continues on a rapid growth path with its acquisition of Sensible Systems, a Littleton, Colo.-based Great Plains reseller. Sensible had $3.5 million in revenue for 2003 and a staff of 15. says...

Best cites Blytheco.(Practice Development News)(Best Software)(Brief Article)
April 1, 2004... Best Software has named Blytheco its overall business partner of the year for 2003, one of seven awards given to the Laguna Hills, Calif.-based accounting software reseller, and one that Blytheco has won six out of the last seven years. ...

Blackbaud eyes SIs.(Practice Development News)(system integrators)(Brief Article)
April 1, 2004... Blackbaud wants to enlist systems integrators interested in selling, but not implementing, its Financial Edge not-for-profit accounting software line. Systems integrators can still sign up as full-service resellers. But if they enlist as...

Mork helms McGladrey IT.(Practice Development News)(RSM McGladrey Inc. appoints Stan Mork)(Brief Article)
April 1, 2004... Stan Mork has assumed the role of National IT Consulting Practice Champion for RSM McGladrey, a position that serves as a management liaison between the firm's national consulting office and its IT practices. Mork took over the duties from...

Capital honored.(Practice Development News)(Capital Business Systems Inc.)(Brief Article)
April 1, 2004... Capital Business Solutions of Raleigh, N.C., has been named partner of the year for its reselling efforts by Blackbaud, the Charleston, N.C.-based provider of not-for-profit accounting software. The company was honored as the top-performing...

EYT, In2Gr8 merge.(Practice Development News)(Brief Article)
April 1, 2004... Microsoft accounting resellers EYT and In2Gr8 have merged to form an operation with revenue estimated to be in excess of $17.5 million. EYT, based in Chantilly, Va., grew out of Ernst & Young Technologies and is a Great Plains and Solomon...

Altara buys McKena.(Practice Development News)(Altara International Inc.)(Brief Article)
April 1, 2004... Altara, a Great Plains reseller based in New Jersey, has acquired the McKena Group, a computer consulting firm that operates in the Dallas-Ft. Worth area. The unit will merge with Altara Southwest. Altara has 74 employees. Before the...

Blackbaud files offering.(Accounting News)(initial public offerings)(Brief Article)
April 1, 2004... Blackbaud, the not-for-profit accounting software company based in Charleston, S.C., has filed to go public with an initial offering in which investors, but not the company, will sell an undisclosed number of shares. The company had $118.1...

Accpac sales rise.(Accounting News)(ACCPAC International Inc.)(Brief Article)
April 1, 2004... Accpac International posted revenue of $29 million for its third quarter, ended December 31, up 20.8 percent from $24 million a year earlier, as the company posted a small profit. The numbers were reported by Accpac's parent, Computer...

Red wingers defect.(Accounting News)(Troy Kemmerer and Kathy O'Connor, have joined the Open Systems)(Brief Article)
April 1, 2004... Two managers from Red Wing Software, Troy Kemmerer and Kathy O'Connor, have joined the Open Systems business development team. The two will work with Rita Strauss, director of business development, who worked at Red Wing before moving to...

MBS loss drops.(Accounting News)(Microsoft Business Solutions)(Brief Article)
April 1, 2004... Microsoft Business Solutions lost $69 million for its second quarter, ended December 31, down from $87 million a year ago, as the unit racked up a 40 percent increase in revenue, largely attributed to Navision. The operating loss numbers...

Exact's American profit rises.(Accounting News)(Exact Software North America)(Brief Article)
April 1, 2004... Operating income for Exact Software North America rose to $5.3 million, up 23.1 percent, for the year ended December 31, as revenue for the region rose to $58.3 million, a 12 percent rise. However, the weak dollar pulled the parent's...

Epicor posts profit.(Accounting News)(Brief Article)
April 1, 2004... Epicor reported earnings of $3.5 million for its fourth quarter, ended December 31, compared to a loss of $2.1 million, as revenue rose 20.1 percent. Revenue rose to $44.1 million in the most recent quarter, up from $36.7 million in last...

Bennett's pay tops competitors.(Accounting News)(Illustration)
April 1, 2004... BENNETT'S PAY TOPS COMPETITORS Name Company Compensation Year Ended Steve Bennett Intuit $4.3 million 7/31/03 George Klaus Epicor $1.2 million 12/31/02 Robert...

WK sales drop.(Tax & Financial Planning News)(Wolters Klumer Sales drop )(Brief Article)
April 1, 2004... Wolters Kluwer Legal Tax & Business North America, whose business includes the CCH product lines, reported a 3.6 percent drop in revenue for the year ended December 31, as a decline in existing businesses was countered by increases via...

Advent takes charge.(Tax & Financial Planning News)(Brief Article)
April 1, 2004... Advent Software reported a $75.8 million loss for the fourth quarter ended December 31, as the company recorded a $70.5 million charge for a full valuation allowance against deferred taxes. The company also had restructuring and impairment...

Intuit lowers QB estimates.(Tax & Financial Planning News)(QuickBooks estimates)(Brief Article)
April 1, 2004... Intuit has lowered its target for growth in QuickBooks revenue for the year ending July 31 to 0 percent from the original target of 10 percent. The company noted that its 8 percent growth for the quarter ended January 31 was below...

BNA, Thomson ally.(Tax & Financial Planning News)(BNA Software and RIA Electronics enter into a deal)(Brief Article)
April 1, 2004... BNA Software and RIA have agreed to co-brand the InSource Express Audit Analyzer Powered by BNA Software, the second time the two companies have entered into such a deal. The product combines RIA's InSource Express with BNA's Corporate Tax...

EnvestnetPMC launches Multi-manager Account.(Tax & Financial Planning News)(Brief Article)
April 1, 2004... EnvestnetPMC, based in Chicago, has introduced the Multi-Manager Account, which combines separate account management with the administrative capabilities available with mutual funds. The product gives investors looking for an appropriate...

OSI does A/R.(Brown and Joseph Cos.)(Outsource Partners International)(Brief Article)
April 1, 2004... Outsource Partners International, based in New York, has allied with the Brown and Joseph Cos. to provide outsourced accounts receivable services. OSI chose Brown and Joseph, based in Schaumburg, Ill., to provide the technology to deliver...

LiveOffice taps Forefield.(Tax & Financial Planning News)(Brief Article)
April 1, 2004... LiveOffice has agreed to provide Forefield's Knowledge Trust consumer content to the Torrance, Calif.-based company's more than 12,000 reported customers. The information will be available through Live Office's Web-based AdvisorSquare....

Pruning the client base: CPAs and resellers learn that you can keep clients happy by keeping only happy clients.(certified public accountant)(Cover Story)
April 1, 2004... When NextLevel Information Solutions consultants show up at a prospect's site, they're trained to size up the office furniture, check out what's in inventory, and see who's using a laptop or Palm. No, they're not casing the joint. They're...

Top 100: channel evolution; The reseller channel is undergoing fundamental changes producing larger VAR organizations.(Bob Scott's VAR 100)(value added reseller)
April 1, 2004... Who are the biggest resellers of accounting software in the United States? Accounting Technology answers that question with Bob Scott's VAR 100, the first-ever ranking of accounting VARs. Not surprisingly, the No. 1 organization in terms of...

Account aggregation: in the loop; Aggregators have become a key component to financial planning.
April 1, 2004... For Joshua Reidinger, spending time organizing information and establishing his clients' accounts in WebPortfolio is a key in forming long-term relationships. "You can't just do tax and auditing to develop long-term relationships with...

Tax: a vertical perspective; Software publishers are making life easier for tax preparers with industry niches.(Editorial)
April 1, 2004... William Cook Jr., CPA, no longer has to make those long, long drives to the airport to deliver a bundle of tax returns--including a good number for the El Dorado, Ark.-based firm's oil and gas clients--for data inputting and processing at a...

Portfolios in real-time: managing investments isn't a part-time thing.
April 1, 2004... The field of portfolio management is being rocked by three sweeping forces, including the Internet, the drive to outsource back-office functions, and the baby boomers. Financial planning and portfolio management are the two elements of...

The year of the CRM boom: reality is starting to match the hype.(Customer Relationship Management)(Editorial)
April 1, 2004... For about two years now, the market has debated how much the projections for the market for Customer Relationship Management systems were hype and how much realty. For Alex Solomon, one of the owners of Net@Work, an accounting software...

Doculex OCR-It.(New Products)(Doculex)(Brief Article)
April 1, 2004... Version 6.2 of Doculex OCR-It, an Optical Character Recognition package, was designed for production conversion of Tiff images to text. OCR-It meets the requirements of litigation support and also handles less complicated tasks. The...

MIP Endowment Management.(New Products)(Micro Information Products Inc.)(Brief Article)
April 1, 2004... Nonprofits can use MIP Endowment Management to track and manage all endowment actions, recording each disbursement, fee, contribution, and adjustment. The software also facilitates solicitation strategies to maximize fundraising efforts,...

GainsKeeper.(New Products)(Brief Article)
April 1, 2004... GainsKeeper speeds the completion of IRS Form 4797, required for traders who use mark-to-market accounting. From the tax center, GainsKeeper's tax lot accounting classifies capital gains and losses pre/post-May 5 and populates the actual...

Microsoft Portal Version 2.(New Products)(Microsoft Corp.)(Brief Article)
April 1, 2004... Microsoft Business Portal 2.0, which integrates with MBS Great Plains and Solomon applications, now offers Share-Point Services and SharePoint Web Parts. Web Parts includes document libraries, calendars, announcements, the ability to share...

RedTail Transaction Manager.(New Products)(Brief Article)
April 1, 2004... The RedTail Transaction Manager for Accpac Advantage Series enables companies to outsource requirements for electronic trading. Supporting Accpac Advantage Series Versions 5.0 and higher, the software features the electronic trading...

ObjAcct Enterprise XML Accounting Server.(New Products)(ObjAcct Business Systems)(Brief Article)
April 1, 2004... ObjAcct Enterprise XML Accounting Server provides Web Services with support for remote site Internet access using either a browser or a downloadable Windows client. Users can access the system over the Web using the OXAS WebLedger, or they...

Simply Accounting Online.(New Products)(ACCPAC International Inc.)(Brief Article)
April 1, 2004... Simply Accounting Online offers remote access to accounting and payroll systems on a subscription basis, enabling businesses to manage accounting from any location. Included features are general ledger, accounts receivable, accounts...

ProVantage 7.0.(New Products)(ProVantage Software Inc.)(Brief Article)
April 1, 2004... The Network Printer Selection in ProVantage 7.0 enables authorized users to print draft bills, bills, and statements on any of the firm's network printers, including remote network printers. The bill and draft-printing engine makes...

ProSystem fx Engagement 3.0.(New Products)(CCF Inc.)(Brief Article)
April 1, 2004... ProSystem fx Engagement Version 3.0 delivers snapshots of the local file room, engagement binders, and trial balances that streamline the review process and help firms better manage remote data. The software's Central File Room utilizes a...

RIA VAT Expert.(New Products)(Brief Article)
April 1, 2004... The RIA VAT Expert assists tax practitioners with value-added tax analysis, planning, and compliance to determine the VAT implications of sales or purchases within European Union countries. Practitioners can determine the correct VAT to be...

Raiser's Edge.(New Products)(Blackbaud Inc.)(Brief Article)
April 1, 2004... With the Raiser's Edge, nonprofits can streamline high-volume processes associated with securing regular donations and consider recurring giving a part of fundraising portfolios. The new version of the Raiser's Edge identifies missed...

C Corp Vs S Corp Analyzer.(New Products)(Brief Article)
April 1, 2004... The C Corp Vs S Corp Analyzer determines the savings or cost of an organization's operating as a C corporation compared to an S corporation. This program prepares two sets of tax projections for the corporation and all of its shareholders....

The Information Edge.(Software)(Brief Article)
April 1, 2004... Blackbaud's Information Edge enables nonprofits to integrate and analyze the high volumes of data they collect. It extracts, integrates, and organizes disparate data into meaningful datamarts that allow for interactive analysis. Data is...

Advantage Series 5.2.(New Products)(Brief Article)
April 1, 2004... Accpac Advantage Series 5.2 Project and Job Costing adds integration with Microsoft Project, and more flexible accounting and budgeting. Project and Job Costing provides businesses with the tools to manage contracts and jobs. The software...

MYOB download.(New Products)(Brief Article)
April 1, 2004... MYOB US has made AnswerWorks, a natural language search feature, available via Web download for users of its MYOB Plus 2004 accounting software line. Available at www.myob.com/us/downloads/answerworks, the update gives users the ability to...

SouthWare: moving in new directions.(Channels)(SouthWare Innovations Inc.)(Company Profile)(Editorial)
April 1, 2004... After 20 years of honing its Excellence Series of financial management software, SouthWare is now looking to boost its brand recognition with new marketing initiatives and an alliance with IBM. [ILLUSTRATION OMITTED] Since it started...

Internet directory.(Directory)
April 1, 2004... Practical and Innovative Resources from AccountantsWorld www.AccountantsWorld.com www.AccountantsOffice.com Join the 60,000 strong community of independent accountants. Receive the widest array of free tools, services, training,...

Brian Terrell: building relationships.(Accounting Technologist)(Terrell & Terrell.)(Editorial)
April 1, 2004... Talk about customer-centric. Terrell & Terrell. CPAs--an Accpac reseller headquartered in Addison, Texas--issues its employees checks that bear the inscription: "This paycheck is brought to you by our client companies." [ILLUSTRATION...

How to be even more successful.(Editor's Note)(Certified Public Accountants importances and influence on finanical planning)
April 1, 2004... A man wakes up from a 20-year coma. He immediately calls his CPA/financial planner. "Excellent! My IBM is worth $6 million. And my Microsoft is worth $8 million." [ILLUSTRATION OMITTED] As he is asking about his AOL stock, the operator...

Monitoring financial plans.(Tech Tools)(Brief Article)
April 1, 2004... Palo Alto Software's Cash Compass financial management software can monitor cash flow, manage budgets, import QuickBooks data, and forecast a company's business future. It imports QuickBooks data into both planned and actual tables to provide a...

ProSystem fx Practice 6.0.(Tech Tools)(Brief Article)
April 1, 2004... CCH's ProSystem fx Practice 6.0 features enhanced project management, better management of client information, and improved navigation. Project Tracking in 6.0 has been renamed Project Management and revolves around tax forms and due dates....

Financial forecasting business planning.(Tech Tools)(Brief Article)
April 1, 2004... Ultimate Business Planner assists users in financial forecasting and business planning. The software gives owners the power to evaluate new business ideas and strategies, project financial outcomes before investing time and money, and apply for...

Revenue generating concept in CPE.(Asset Builders)(Certified Public Accountants get indepth knowledge through CPE4CPA.com online tarining)(Brief Article)
April 1, 2004... CPAs who want to dispense more advice to their small business clients and charge for it, will benefit from studying the 40 hours of CPE now offered online at CPE4CPAs.com. Each class takes the CPA inside a business to meet the founder who talks...

Income is still king.(Asset Builders)(Brief Article)
April 1, 2004... According to a new study released by Prudential Financial, an increasing number of today's workers acknowledge their preference for a long-lasting and predictable monthly income in retirement. By a ratio of four to one, defined contribution...

Touting financial systems.(Asset Builders)(Brief Article)
April 1, 2004... As part of its new vertical-market strategy, IBM has unveiled systems aimed at financial-services companies. The products include systems for banking (wholesale payments, branch transformation, retail banking, risk management), insurance...

Ensuring the insuring deposits.(Asset Builders)(Federal Deposit Insurance Corp ensures coverage on deposits)(Brief Article)
April 1, 2004... When consumers want to put a lot of money into a bank, they generally step back because the amount exceeds the federal deposit insurance limit of $100,000. A new company, Promontory Interfinancial Network, based in Arlington, Va., was founded...

New training book.(Asset Builders)(Rogers Ochs new book Investment Planning from Tax returns )(Brief Article)
April 1, 2004... H.D. Vest President Roger Ochs recently authored a chapter, "Investment Planning from the Tax Return," for a new training book published by the AICPA entitled The Team Approach to Tax, Financial and Estate Planning which seeks to educate tax...

Association for independent broker-dealers.(Practice Growth)(Financial Planning Organisations)(Brief Article)
April 1, 2004... The Financial Services Institute has been officially launched with a primary mission of advocacy for its members; it is comprised of broker-dealers that service independent contractor financial advisors. The Financial Planning Association...

Progression of Wealth.(Practice Growth)(Progression of Wealth by Jay Heller and Brain Kohute speaks about financial planning and its goals)(Brief Article)
April 1, 2004... Jay Heller and Brian Kohute, CPAs and financial planners, have revealed their time tested financial planning system in a new book, The Progression of Wealth. The book is based on HJ Financial Group's financial planning methodology created by...

Outliving retirement savings big fear.(Practice Growth)(Brief Article)
April 1, 2004... According to MetLife's recently released Employee Benefits Trend Study, some 48 percent of employees rank outliving their savings as the greatest retirement fear. Almost as many, 43 percent, are concerned that during their own retirement they...

New CFPs.(Certified Financial Planner Board of Standards Inc.)(Brief Article)
April 1, 2004... The Certified Financial Planner Board of Standards announced that 58 percent of the 2,388 individuals who sat for its November 2003 CFP[R] Certification Examination passed. The 10-hour, two-day exam was conducted at 50 sites nationwide and...

Top 10 tips for choosing an advisor.(Practice Growth)(Brief Article)
April 1, 2004... Ben Stein, noted author, actor, comedian, lawyer, and economist, is sharing his insight on how to ensure that all Americans have the resources necessary to retire on their own terms. In his role as honorary chairperson of the National...

IDEA 2004.(Practice Growth)(Brief Article)
April 1, 2004... CaseWare IDEA, the developer and global marketer of IDEA[TM], has now begun shipping the software, which is available to auditors, accountants, and financial managers. Bob Cuthbertson, chief operating officer of CaseWare IDEA, predicts a 50...

Emphasize professional collaboration.(Practice Growth)(Professional Associations alliances to start Wealth Advisors Insitutes)(Brief Article)
April 1, 2004... The Alliance of Professional Associations (previously known as Pencor Association Services) has introduced a new organization, Wealth Advisors Institute, for wealth-planning professionals who seek a more collaborative approach to serving...

New look, new capabilities.(Practice Growth)(Brief Article)
April 1, 2004... Firms can now save time, better manage projects, and be more productive with CCH Incorporated's ProSystem fx Practice 6.0. This latest version of the company's practice management software features improved navigation, enhanced project...

Key on the biggest investment.(Practice Growth)(Brief Article)
April 1, 2004... Vertical Lend is a company that tries to find the best home loans for consumers and their financial advisor, as well as helping advisors strengthen relationships with clients and expand their practice with mortgage services. The company's...

Helping investors gain clarity.(Partners)(Brief Article)
April 1, 2004... Sageworks and LexisNexis U.S. have announced that LexisNexis has licensed reports generated by one of Sageworks' technologies, "ProfitCents Public[TM]," a software program that converts the financial statement numbers of publicly traded firms...

Protecting clients' stock portfolio.(Partners)(Brief Article)
April 1, 2004... Vertical Lend has announced a new program to protect clients' stock portfolio from market risk, called Stock to Cash[R], available through a partnership with Emerging Money Corporation. The program uses a unique derivative-based, non-callable...

Integrated data consolidation.(Partners)(Cambridge Investment Research)(Brief Article)
April 1, 2004... CashEdge and StatementOne, have partnered with Cambridge Investment Research, to provide Cambridge Rep/Advisors with a combined data aggregation and consolidation solution. The integrated solution will enable Cambridge Investment Research to...

Two New York firms expand.(Partners)(Janover Rubinrot and Rosenzweig and Maffia merge)(Brief Article)
April 1, 2004... Janover Rubinrot, one of Long Island's largest accounting and financial advisory firms, has merged with Rosenzweig and Maffia, a leading firm in New York City specializing in entertainment, theater arts, and sports accounting. The combined firm...

Joint professional liability program.(Partners)(Brief Article)
April 1, 2004... Alliott Group North America has reached an agreement with CAMICO Mutual Insurance Company to provide professional liability insurance and risk management services for the association's members in the U.S. Under the agreement, Alliott Group...

Partnering alliance launched.(Partners)(Ascentis Software)(Brief Article)
April 1, 2004... Ascentis Software has announced its new vertical solution partner alliance-with AccountMate. The company's human resources and benefits management software, HROffice, integrates with AccountMate's payroll module to extend comprehensive human...

International financial services standards.(Partners)(Brief Article)
April 1, 2004... NEC Solutions and its wholly-owned subsidiary Niteo Partners, is assisting the committee for the International Organization for Standards, with developing security and operational standards for the financial community worldwide. Specific areas...

Advisor ethics code is coming.(Regulatory Watch)(Brief Article)
April 1, 2004... The SEC has issued a release proposing a new rule, 204A-1, under the Investment Advisors Act of 1940, that would require investment advisors to adopt codes of ethics to set forth standards of conduct for advisory personnel, safeguard material...

SEC victorious on fixed rate of return.(Regulatory Watch)(Brief Article)
April 1, 2004... The U.S. Supreme Court has ruled that an investment promising a fixed rate of return can be a security under federal law and therefore, subject to SEC jurisdiction. In a unanimous opinion, the justices overturned a ruling by a U.S. appeals...

New rules on the way.(Regulatory Watch)(accounting standards)(Brief Article)
April 1, 2004... Following the accounting scandals at Parmalat, Adecco, and Ahold, the European Union's internal market commissioner says that Europe urgently needs tighter accounting standards. Frits Bolkestein notes that it is imperative member states...

Tightening current liabilities.(Regulatory Watch)(Brief Article)
April 1, 2004... The Financial Accounting Standards Board has decided to adopt the approach taken by the London-based International Accounting Standards Board, by which liabilities would have to be classified as "current," as long as the refinancing is...

Fat fees a target.(Regulatory Watch)(portfolio index fees)(Brief Article)
April 1, 2004... The SEC says that it is cracking down on exorbitant fees. Index funds, portfolios of stocks or bonds that track a particular index, typically charge fees but they don't require stock-picking skills or expensive stock research like most other...

Wait until 55.(Regulatory Watch)(Brief Article)
April 1, 2004... From London comes word that the minimum age at which people can start drawing benefits from a pension will rise from 50 to 55 by 2010, according to the Chancellor. The plan is unpopular with many but the government has attempted to mollify its...

How to get into financial planning.(American Institute of Certified Public Accountants)(Certified Public Accountants)
April 1, 2004... A recent AICPA financial planning conference counted some 700 attendees eager to learn more about this niche. In fact, the AICPA is expanding its efforts in this area, looking to move more CPAs over into financial planning. Then too, the...

Getting down to business.(Wealth Management Services)(certified public accountant)
April 1, 2004... There are thousands of types of small and midsized businesses, and almost as many types of business owners. However, this group also shares some key characteristics, such as energy, drive, and passion. Then too, they share the fact that their...

How good advisors add value.(Competitive Environment Survival)(Investment Policy Statement)
April 1, 2004... Tennis players know that a pro can teach them the skills needed to make the variety of shots required for a well-rounded game. A teaching pro can also provide the winning strategy and the discipline to stick with that strategy. That is why even...

Opening new doors with the most valuable clients.(Charitable Giving Options)
April 1, 2004... Despite the extended bear market of the past few years, charitable giving by individuals remains strong and reached almost $184 billion in 2002, according to Giving USA 2003, the annual report on philanthropy compiled by the American...

Turning to CPAs for help.(Certified public accountants)
April 1, 2004... A recent survey from Nationwide Financial reveals that while CPAs continue to dominate the role of tax advisor, affluent Americans are starting to rely on them for broader financial services, advice, and products. In fact, while tax advice...