Accounting Technology articles from January 2005

Accounting Technology archives from January 2005

Microsoft Tries Again.(low-cost accounting market )
January 1, 2005... Several years ago, a Microsoft marketing team visited the offices of Accounting Today, where I was then working. Microsoft was in town to launch a new low-cost accounting package, called Profit, and I was ready to see the fabled Microsoft...

The Year Ahead.
January 1, 2005... What's in store for 2005? Accounting Technology turned to some leaders in the profession to get their views about where technology will take us over the next 12 months. This issue also incorporates the annual list of Top Ten Technologies...

Need Insights?
January 1, 2005... Editor Robert W. Scott also writes "Consulting Insights," a free, twice-monthly electronic newsletter that addresses issues concerning the consulting and reselling market. It's insight with an attitude. If you want to subscribe, you can do so...

Street Talk: Reader Views.(Letter to the Editor)
January 1, 2005... Microsoft once again plans to attempt to enter the low-end accounting software market with Microsoft Office Small Business Accounting. What factors do you think make its chances for success different than in the past? If they tie it...

Eide Bailly Renames Techwise.(Eide Bailly Technology Consulting)(Brief Article)
January 1, 2005... Eide Bailly, a Fargo, N.D.-based CPA firm, has changed the name of its Techwise technology group to Eide Bailly Technology Consulting. The unit had about $7 million in annual revenue last year and employs 70. It sells Great Plains and MAS...

Epicor Names Top VARs.(Epicor Software Corp., Value Added Resellers)(Brief Article)
January 1, 2005... Epicor Software has named Avayle Solutions of Fremont, Calif., and Nexxlink Information Technologies of Canada, as its top North American resellers for 2004. Publicly traded Nexxlink had sales of roughly $82.6 million for fiscal 2004, up...

Best Plans User Confab.(Best Software)(Brief Article)
January 1, 2005... Best Software, which has been trying to put together a user conference for three years, will hold the first such event from November 2 to 6 in San Diego, bringing together customers from all product lines. "Many of the business units used...

Eagle, SSI Deal Off.(Eagle Consulting and Development Corp., Solutions Strategist)(Brief Article)
January 1, 2005... A planned merger of Eagle Consulting Group and Solutions Strategists has been called off. Debra Ellis, president of New York City-based Eagle, attributed the development to a difference in management styles and corporate mergers. Ellis...

MYOB Gives Awards.(Brief Article)
January 1, 2005... MYOB, the Rockaway, N.J.-based vendor of low-cost software for the Windows and Macintosh platform, has named Terri Zeh Jacobson of Medina, Minn., both its Business Partner of the Year and Mentor of the Year for 2004. Zeh Jacobson, an MYOB...

Serenic Hikes Vision Results.(Vision HRM Software)(Brief Article)
January 1, 2005... Sales for Vision HRM Software, an Edmonton, Alberta-based software company, rose to roughly $797,000 for the second quarter ended August , an increase of 22 percent over last year's sales. The second-quarter results include two months of...

Trey Resources Loss Widens.(Brief Article)
January 1, 2005... Trey Resources, which has acquired two northern New Jersey Best Software resellers, reported a loss of $521,906 on revenue of $577,064 for its third quarter ended September 30. Trey had virtually no revenue a year earlier. SWK, an MAS 90...

Best Profits Rise.(Best Software)(Brief Article)
January 1, 2005... Best Software saw its operating profit hit $112.1 million for the year ended September 30, up 13 percent from 2003 as its revenue topped $500 million for the first time. Income for the Best, the North American arm of the Sage Group, hit...

MBS Restates Year-Ago Figures.(Microsoft Business Solutions, earnings)(Brief Article)
January 1, 2005... Microsoft has restated the revenue and operating losses for the September 2003 quarter reported for Microsoft Business Solutions, improving the year ago results. The change reflected the inclusion of results for the Small and Midmarket...

Stockner Leaves Microsoft.(Rene Stockner resigned)(Brief Article)
January 1, 2005... Rene Stockner, who managed the introduction of Navision software in the United States, has left Microsoft to serve as CEO of a Danish technology start-up company. Stockner was general manager of Navision's operations in the United States...

MYOB Projects Good Year.(earnings)(Brief Article)
January 1, 2005... MYOB Ltd., which markets low-cost accounting products in the United States, has projected that its 2004 revenue will hit roughly $97 million for 2004. That total is a nearly 40 percent increase over 2003. The sharp rise reflects the merger...

Insynq Pays Off IRS.(Internal Revenue Service, tax liens)(Brief Article)
January 1, 2005... Insynq, which markets online accounting applications, has paid off delinquencies owed to the Internal Revenue Service, which had placed tax liens against the company. Insync paid $429,000 in past tax obligations. The company had revenue of...

Intuit Sells FundWare.(Kintera acquisition)(Brief Article)
January 1, 2005... Kintera, which markets Internet-based applications for nonprofit businesses, has acquired Intuit's FundWare operations for $11 million in cash. Kintera acquired Intuit Public Sector Solutions, the unit that marketed FundWare. Intuit had...

Shillingburg Joins Open Systems.(Linda Shillingburg appointed)(Brief Article)
January 1, 2005... Linda Shillingburg, who spent 16 years working with the MIP non-profit accounting line, has been named director of business development NFP at Shakopee, Minn.-based Open Systems. Shillingburg, who was with MIP before and after its purchase...

Biz Objects to Merge Crystal.(Business Objects S.A., Crystal Decisions Inc.)(Brief Article)
January 1, 2005... Business Objects, which purchased Crystal Decisions a year ago, plans to merge its two business intelligence product lines over the next two years. In its 10-Q report for its September quarter, the company says that Business Objects 11...

Microsoft's Software Base.(Microsoft Business Solutions, market report)(Brief Article)
January 1, 2005... Product Number of installations Navision 45,000 Great Plains 32,100 Solomon IV 13,460 Axapta 3,400 Microsoft CRM 3,500 The number of...

CBIZ to Sell ProfitDriver.(CCH contracts Century Business Services)(Brief Article)
January 1, 2005... CCH has signed Century Business Services to sell its ProfitDriver analytical software. CCH may sign other organizations to resell the software, but it is not ready to announce plans. "They are our first channel partner," says Mike...

QuickBooks Sales up 12 percent.(intuits financial reports)(Brief Article)
January 1, 2005... Intuit says that QuickBooks-related revenue reached $145.6 million for the quarter ended October 31, up 12 percent over last year's total. Total company revenue reached $266 million, up 11 percent from a year earlier. The Mountain View,...

Intuit Execs Offer Online Tax Prep.(tax preparation services)(Brief Article)
January 1, 2005... A group of former Intuit employees, has launched Taxnet.com, which provides Internet-based filing of income taxes along with electronic filing. The Oceanside, Calif.-based company is headed by Tom Allanson, former senior vice president and...

Dollar Hurts Wolters Kluwer.(earnings)(Brief Article)
January 1, 2005... Wolters Kluwer, parent to CCH Tax and Accounting, saw earnings for its Tax, Accounting, and Legal Division drop by 15 percent for the third quarter as revenue rose by 4 percent. TAL, which encompasses North American operations, had earnings...

OPI Gets Funds.(Cargill Ventures, Outsource Partners International)(Brief Article)
January 1, 2005... Outsource Partners International, which provides outsourcing services to the financial and accounting markets, has received a $4 million equity investment from Cargill Ventures. OPI employs 650 and has eight offices in the United States and...

Solution 6 Becomes Aderant.(Brief Article)
January 1, 2005... Solution 6, a line of practice management applications, has been renamed Aderant, following this year's sale of the Solution 6 Professional and Enterprise operations in North America to Francisco Partners. Aderant's product line includes...

Mphasis Sales Rise.(Brief Article)
January 1, 2005... Mphasis BL Group, which provides outsourcing services, saw a 24 percent increase in net profits on a 35 percent increase of sales, for its half year ended September 30. Worldwide revenue reached about $42.8 million in the recently ended...

2005 Show Calendar.(Calendar)
January 1, 2005... January 10-12, 2005 Blackbaud Partner Summit. Charleston Place Hotel, Charleston, S.C. www.Blackbaud.com February 6-9 AccountMate Synergy 2005. San Rafael, Calif. www.accountmate.com/evolution/ February 25-26 ...

March's Coming Attractions.
January 1, 2005... * Serving a Niche Picking a vertical market can make a firm stand out. Find out the strategies and the systems that distinguish the experts from the also-rans. * HR Trends What are the trends in HRMS software, both on the desktop...

2005 Outlook: The Road Ahead.(Editorial)
January 1, 2005... Sure, Kennedy & Coe has a document management system. Over the last three years, the firm has expanded the use of CCH's ProSystem fx Engagement from one office to all 17 offices. But use of the workpaper product really is less about saving...

Cook: Make Technology Easier.(Scott Cook)(Brief Article)
January 1, 2005... The point that technology is too complicated has been made by users and technology leaders alike. Microsoft's chairman Bill Gates has often talked about reducing complexity. And that is very much on the mind of Intuit founder Scott Cook,...

Some Products to Watch.(Accounting software)
January 1, 2005... Every year, software vendors bring a variety of new products to market. Here is Accounting Technology's pick of products that may have an impact on the market, or illustrate product trends. Analytical Tools. Analytical packages are hot in...

The AICPA's Top Ten Technologies for 2005.(American Institute of Certified Public Accountants)
January 1, 2005... Each year, the American Institute of CPAs chooses a list of the top technologies for the coming year. Here's how the selection was made for 2005: The Top Technology Task Force convened in August with an initial list of 100 possible top...

Slicing Up Data: Vendors think users want analysis tools. Do they?
January 1, 2005... Maybe the fact that a $49 product like Simply Accounting 2005 offers 30 key performance indicators should say something about the spate of analytical tools hitting the market. And it also says something that Simply Accounting will define...

Slicing Up Data: Tailoring Data for Accountants.(Dynamics Software Solutions)
January 1, 2005... Accountants like to do things their own way. And Peter Kaufman thinks that his e-Analytics Portal provides firms with the ability to tailor reports to the whims of partners. "You might have six or seven different partners in the different...

Vendors with Analytical Tools.(Brief Article)(Directory)
January 1, 2005... Accpac International Pleasanton, Calif. (800) 773-5445 www.Accpac.com Adaptive Planning Mountain View, Calif. (650) 528-7500 www.adaptiveplanning.com CaseWare International Berkeley, Calif. (800) 267-1317...

Software Review: Financial Planning Segments: Software evolves to serve different market levels.(Product/Service Evaluation)
January 1, 2005... Professional financial planning may have started with the life insurance industry, but it isn't staying there. What began as a more organized approach to selling insurance products has evolved in just a few decades into a robust and highly...

Outsourcing Sparks Returns: Going offshore adds to firms' bottom lines.
January 1, 2005... As the peak of the 2004 income tax season nears, a growing number of accounting firms across the United States have their sights set on India in their perennial search for accountants. Daly, Sirianni & Co is among the firms casting its eyes...

Making the Case for Outsourcing.(Brief Article)
January 1, 2005... SurePrep, an outsourcing company based in Newport Beach, Calif., gives this example of the potential savings from outsourcing tax return preparation. The numbers are from a firm that does not wish to be publicly identified. CASE STUDY ...

Tax Outsourcing Vendors.(Brief Article)(Directory)
January 1, 2005... CCH Tax and Accounting Riverwoods, Ill. (847) 267-7000 www.cch.com GKM Management Services Centerville, Del. (609) 240-5130 www.gkglobal.net Mphasis New York City. (972) 712-7426 www.mphasis.com ...

Outsourcing: The AICPA Speaks.(American Institute of Certified Public Accountants)(Brief Article)
January 1, 2005... Accounting firms have been nervous about client reaction to the use of offshore outsourcing services. Beginning next year, firms will have no choice but to disclose that they are sending client information to a third party. Through new...

Tax Software: A Quick Look Ahead.
January 1, 2005... Outsourcing may be a topic of discussion, but for most tax preparers, the features offered in the current crop of tax preparation software is more important for this year's tax season. Here is a snapshot of the trends and the steps being...

Tax Preparation Vendors.(Brief Article)(Directory)
January 1, 2005... ATX Caribou, Maine (877) 728-9776 www.atxinc.com CCH Tax Compliance Torrance, Calif. (800) 739-9998 www.prosystemfx.com Creative Solutions Dexter, Mich. (800) 968-8900 www.creativesolutions.com Drake...

Building a Profitable Payroll Business: As technology improves and regulations continue to mount, more accounting firms are offering their clients payroll.
January 1, 2005... Just a few years ago, when clients asked their accountants about payroll services, most would have responded, "I don't do payroll." The most common objection was that payroll is not profitable or that the business takes too much time and...

Best Launches Payroll for Firms.(Best Software)(Brief Article)
January 1, 2005... Best Software is joining the bandwagon of companies that let accountants offer payroll services. Best, long known for its Abra product for in-house processing, has introduced the Peachtree Payroll Service, which allows accountants to have...

Service Bureaus Target Accountants.(Automatic Data Processing Inc. launches new service)
January 1, 2005... Even the national payroll processors see the need to offer accountant-specific options. Roseland, N.J.-based ADP launched its wholesale offering in July. "We've seen an increase in accountants wanting to get into payroll, but we've found...

Payroll Providers.(Brief Article)(Directory)
January 1, 2005... Automatic Data Processing Roseland, N.J. (800) 225-5237 www.adp.com AccountantsWorld Hauppauge, N.Y. (800) 829-7354 www.accountantsworld.com Best Software Reston, Va. (800) 368-2405 www.bestsoftware.com ...

New Products.
January 1, 2005... TAXWISE FIXED ASSETS TaxWise has integrated asset manager and trial balance software into its accounting and tax software line. TaxWise Fixed Asset Manager enables accountants to track large numbers of fixed assets and calculate...

Synchronics: Making the Sale: Synchronics is searching for partners in several geographic locations and it's counting on making the sale.(Company Profile)
January 1, 2005... The Memphis, Tenn.-based company has been selling retail management software through its dealers since 1984 and currently has 255 resellers-100 of which have been partners for more than 10 years. "We want an additional 10 dealers in areas...

M. Darren Root: Cleaning Out Paper.(Root & Associates )
January 1, 2005... Double the revenue with just a 50 percent increase in staff-that's just what M. Darren Root did by taking his firm paperless. And paperless means that Bloomington, Ind.-based Root & Associates has not printed a file copy since 2001. ...

Reaching the Pinnacle.
January 1, 2005... Some 40 years ago, Yogi Berra was appointed manager of the New York Yankees. A young journalist (who I know rather well), asked him whether he felt qualified to do the job. The response? "You observe a lot by watching." Most industry...

Rolling Forecasts.(accounting software)(Brief Article)
January 1, 2005... Web-based Adaptive Planning 1.5 provides rolling forecasts and what-if scenario analysis. The formula-based modeling capability exists within a series of core financial model elements, including sales plans, personnel, expenses, capital,...

Analysis and Benchmarking.(Ilumen iMonitor 2.3 financial analysis software)(Brief Article)
January 1, 2005... Ilumen iMonitor 2.3 electronically gathers and analyzes private company financial reporting data and provides standards-based trend analysis and benchmarking to the banking, accounting and corporate risk markets. Features include trailing...

Bundling Services.(Universal Tax Systems Inc. enhanced its tax software)(Brief Article)
January 1, 2005... TaxWise has enhanced its accounting and tax software packages, adding integrated asset manager and trial balance software, as well as CCH Tax and Accounting tax research information. The fixed asset manager will enable accountants to handle...

Retirement Estimators.(Newkirk Products)(Brief Article)
January 1, 2005... Newkirk has made available two Retirement Payout Estimators, one in a slide and the other online. The printed slide calculator version presents retirement payout scenarios based on withdrawals and projected length of time participant retirement...

Visual Communications.(Presentation graphics software)(Brief Article)
January 1, 2005... SmartDraw 7 helps professionals draw flowcharts, Gantt charts, software diagrams, floor plans and calendars. Version 7's flowchart wizard walks users through each step required to build a professional flowchart, and the Gantt wizard teaches...

End-to-End Suites.(CashEdge Inc. new products)(Brief Article)
January 1, 2005... CashEdge, provider of online financial applications, announced the launch of its Bank, Credit Union, and Wealth Management Suites which are tailored solution offerings developed to meet specific market needs for each respective industry. With...

Speeding Research.(CCH Tax and Accounting)(Brief Article)
January 1, 2005... CCH Tax and Accounting has launched CCHHand, a breakthrough application to speed and integrate tax research with the workflows of accountants, tax preparers, and lawyers as part of its CCH Internet Tax Research NetWork. CCHHand gives users...

China Launching Financial Planning Product.(CITIC Securities Company Ltd.)(Brief Article)
January 1, 2005... Shanghai-listed CITIC Securities has announced that it would launch an open-end collective financial planning product titled CITIC Securities Defensive-Strategy Collective Asset Management Scheme. The company aims to raise some $603 million for...

Unmarried Couples Need Financial Planning.(Brief Article)
January 1, 2005... According to U.S. Census Bureau figures, the number of married-couple households has dropped from nearly 80 percent in the 1950s to about 50 percent in 2003. The Bureau says that there are an estimated 11 million Americans in long-term,...

No One's Saving.(only 20 percent of Americans are prepared for retirement)(Brief Article)
January 1, 2005... Only 20 percent of Americans are prepared for retirement, says the new Retirement Reality Check, a study of 1,604 people conducted by Allstate and the market research firm of Matthew Greenwald & Associates. This translates to one in five...

Business Forms for Critical Filings.(STF Services Corp's new electronic forms)(Brief Article)
January 1, 2005... STF Services has introduced SuperForm Doing Business Forms, the latest product in its SuperForm line of interactive electronic forms for financial, legal, and business professionals. With more than 3,700 forms covering all states and the...

SOX Takes Toll.(Sarbanes-Oxley Act of 2002)(Brief Article)
January 1, 2005... The stress of meeting the requirements for corporate financial accountability is taking a toll on confidence and client ratings within the accounting industry, says the J.D. Power & Associates 2004 Audit Firm Performance Study, which measures...

Finance Week to Debut.(Brief Article)
January 1, 2005... A magazine targeted at guiding executives through the corporate governance minefield has been launched. Centaur will publish Finance Week against the backdrop of unprecedented regulatory scrutiny of public and private companies in the UK. Tim...

Financial Market Integrity Centre.(CFA Institute new research and policy center)(Brief Article)
January 1, 2005... CFA Institute, the non-profit professional association that created and administers the Chartered Financial Analyst (CFA) program worldwide, has established a new research and policy center called the CFA Centre for Financial Market Integrity....

Self-Administered Online Tool.(CCA Small Business Group)(Brief Article)
January 1, 2005... CCA Small Business Group, a provider of retirement plans and services for sole proprietors and small businesses, has unveiled MyMaxTM, a fully automated online tool that enables accountants and other financial advisors to design, establish, and...

A Fresh Start.(divorced people)
January 1, 2005... "It's tough picking up the financial pieces after a divorce," says Scott Ditman, a partner with Berdon LLP. "No matter how beneficial the settlement, during those first few months the future is often full of financial uncertainties. Off to a...

Baring Asset Acquired.
January 1, 2005... MassMutual Financial Group has announced the signing of a definitive agreement to acquire from ING Group, the global investment management activities of Baring Asset Management. Under terms of the agreement, MassMutual Holding LLC, a wholly...

Investment Partnerships.(Advent Software-accounting software launched)(Brief Article)
January 1, 2005... Advent Software has launched the latest version of its partnership accounting software, Advent Partner(r) version 4.2, which creates efficiencies in the complex partnership accounting process by automating its most difficult facets-the...

Expanding Public Sector Services.(PTW)(Brief Article)
January 1, 2005... Crowe Chizek and Company is combining practices of its Public Sector Services group with accounting firm PTW, effective January 25, 2005. This will create the largest integrated practice group in Illinois offering governmental consulting,...

Aggressive One-Stop Shopping Plans.(Fiducial small business services acquires Frontier Financial Consultants, and Diamond Title & Escrow)(Brief Article)
January 1, 2005... Fiducial, an international; provider of professional business outsourcing services to small businesses and entrepreneurs, has signed an agreement to acquire Frontier Lending Corporation, Frontier Financial Consultants, and Diamond Title &...

Merger Down Under?(Australian Association of Financial Advisors )(Brief Article)
January 1, 2005... The Australian Association of Financial Advisors is hinting at a possible merger with other industry associations. Robin Yates, president of the 1,000-member AFA, says it is considering a merger with two or three associations although he did...

Alliance Partnership.(AccessData Corp. and InvestEdge Inc.)(Brief Article)
January 1, 2005... InvestEdge, a provider of wealth management solutions to banks, trust companies, brokerage firms, and financial advisors, and Access Data, a leader in delivering technology solutions on critical business issues facing financial services...

Addressing Succession.(Growth Partnership has partnered with franklinCovey Co.)(Brief Article)
January 1, 2005... The Growth Partnership has partnered with FranklinCovey Co. in The Partner Institute, a three-year, multidisciplinary program designed to develop the leadership, practice development, and practice management capabilities of its attendees....

Account Troubles Brewing.(Brief Article)
January 1, 2005... Ernst & Young (UK) warns of potentially catastrophic results stemming from new accounting rules being introduced in January, claiming that they could cause share price volatility. E&Y says that up to 500 British companies may not be ready and...

Managing Information Security.(Financial Services Authority has urged financial firms to do more to address the potential risks in managing their information security.)(Brief Article)
January 1, 2005... The Financial Services Authority in London has urged financial firms to do more to address the potential risks in managing their information security in the fight against fraud and other financial crime, rather than responding to attacks once...

Benefiting from Two Organizations.(Financial Planning Standards Board )(Brief Article)
January 1, 2005... The Certified Financial Planner Board of Standards and the newly created Financial Planning Standards Board (FPSB) announced that global consumers of financial planning will now have two organizations working to benefit and protect their...

Killing Four Birds with One Stone.(new European accounting rules)(Brief Article)
January 1, 2005... The European Commission has published a number of proposed revisions to European accounting rules, designed to boost the confidence of investors in the financial reporting of businesses within the EU. Internal Market Commissioner Frits...

SRO Governance Changes.(self-regulatory organizations )(Brief Article)
January 1, 2005... The Securities & Exchange Commissions has voted to propose new rules and amend existing rules and forms under the Securities Exchange Act of 1934 relating to the governance, transparency, oversight, and ownership of self-regulatory...

Advisors Registration.
January 1, 2005... The SEC has issued a release adopting Rule 203(b)(3)-2 and related rule amendments under the Investment Advisors Act of 1940. The new rules require advisors to certain private investment pools (hedge funds) to register with the Commission under...

At the Top of Their Game: CPA/Financial Planning Firms.(certified public accountant)
January 1, 2005... In this issue, CPA Wealth Provider presents the second annual financial planning awards, honoring CPA/financial planning firms, broker/dealers, and financial planning software vendors, as well as providing special Awards of Excellence to those...

Looking Ahead.(Boulay Financial Advisors, Lattimore Black Morgan & Cain, Schneider Downs & Co. received honorable mentions )
January 1, 2005... The following firms received honorable mentions and were cited for sustained growth and initiative. Boulay Financial Advisors Minneapolis, Minn. Headed by Dave Bremer, this firm, which is the wealth management arm of Boulay,...

Broker/Dealers.
January 1, 2005... 1st Global Dallas, Tex. In 2004, 1st Global achieved record revenue and received a number of awards. During that time, it implemented numerous programs and introduced many products designed to improve the effectiveness and efficiency of...

Looking Ahead.(Quantum Alliance Corp., Worthmark Financial Services, Bear Stearns Companies Inc. received honorable mentions )(Brief Article)
January 1, 2005... The following firms received honorable mentions and were cited for their own innovative ways. Bear Stearns New York, N.Y. For the past 81 years, individual investors have turned to Bear Stearns for innovative and comprehensive...