Accounting Technology articles from October 2004

Accounting Technology archives from October 2004

When Giants Roam.
October 1, 2004... Movies about dinosaurs sometimes show smaller animals frantically trying to avoid the footsteps of the massive saurians. It's not hard to start applying that analogy to the accounting software channel. With Tectura grabbing Aston Business...

Special Tax Issue.
October 1, 2004... One of the truths of the professional accounting market is that tax preparation remains the strongest source of revenue for CPA firms. This year will be no different. So Accounting Technology turns its eyes to the companies that provide tax...

Need Insights?
October 1, 2004... Editor Robert 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, put the following...

Is your organization using Voice over IP technology or do you anticipate using it in the next twelve months? Why or why not?
October 1, 2004... We employed telephone IP two years ago and have achieved nominal savings on long distance. The greatest ROI comes from client service and the ability for consultants to work wherever they choose as long as bandwidth is sufficient. Our main...

Kupperman Joins Immediatech.(Brief Article)
October 1, 2004... Adam Kupperman, who helped implement document management systems at two accounting firms, has joined Immediatech, an Englewood Cliffs, N.J.-based company, as vice president. Kupperman was previously director of document services for Cohn...

PEEC Clarifies LAN Rules.(Brief Article)
October 1, 2004... The AICPA's Professional Ethics Executive Committee has issued clarified rules in the Code of Professional Conduct that many small CPA firms feared might bar them from working with clients' local area networks. The original Interpretation...

Tectura Buys Aston.(Brief Article)
October 1, 2004... Reseller Tectura ramped up its size dramatically during the summer with the purchase of Denmark-based Aston Business Solutions to push its annual run rate to more than $160 million a year. CEO Terry Petrzelka says the Tempe, Ariz.-based...

CITPers Get Techbitz.(Certified Information Technology Professional )(Brief Article)
October 1, 2004... CPAs holding the Certified Information Technology Professional credential are now receiving the Techbitz column, authored by California CPA Susan Bradley as part of the CITP forum. Published weekly, Techbitz is now available to CITP holders...

SmartPros Turns Profit.(Brief Article)
October 1, 2004... SmartPros, which provides continuing education for accounting, finance, and engineering professionals, reported net income of $174,000 for the first half ended June 30, a rebound from a loss of $168,000 in last year's corresponding period. ...

Industrial Sector Leads Capital Spending Growth.(Brief Article)
October 1, 2004... Increasing: Decreasing Industrials 31.8% Financials -21.2% Telecommunications services 10.6% Materials -11.8% Consumer staples 6.4% Healthcare -4.8% Energy...

McCollum Leaves Best.(Brief Article)
October 1, 2004... Craig McCollum, who had been general manager of Best Software's Mid-Market Division since the spring, has left the company to join rival Microsoft Business Solutions. McCollum joins MBS as vice president of worldwide MBS sales strategy. In...

NetSuite Eyes QuickBooks Grads.
October 1, 2004... NetSuite, which has spent the last two years moving up market, is moving down market again with its NetSuite Small Business. The product is designed for software users who have outgrown QuickBooks, says president Zach Nelson. QuickBooks...

Agilisys Buys Aperum.(Brief Article)
October 1, 2004... Agilisys, which sells enterprise software for the manufacturing and distribution industries, has acquired Aperum, which sells distribution software through a reseller channel. Aperum, based in Duluth, Ga., was known as Software Solutions...

Lettman Named Accpac Caretaker.(Brief Article)
October 1, 2004... Donnat Lettman, acting CFO of Accpac, has been given the job of acting general manager of the Best operation, following the hospitalization of Susan Sheridan, who was given the position in the spring. Lettman is a long-time executive with...

Intuit to Sell Fundware.(Brief Article)
October 1, 2004... Intuit, which acquired the Fundware not-for-profit accounting package in 2002, is putting the software on the block. The company cited lack of sales growth as the main reason for the decision. Fundware, operated under the Intuit Public...

SAP Cites BusinessOne Gains.(Brief Article)
October 1, 2004... SAP has added 1,104 BusinessOne customers, 683 of them in the June quarter, in its first half ended June 30, the company said as it released details of its performance in the small and mid-sized business market for the first time. The...

Blackbaud Turns Profit.(Brief Article)
October 1, 2004... Not-for-profit accounting software vendor Blackbaud reported a profit of $5.3 million for its second quarter ended June 30, rebounding from a loss of $246,000 a year earlier. The report was Blackbaud's first as a public company. It also...

Dollar Lowers Wolters Kluwer Results.(Brief Article)
October 1, 2004... Wolters Kluwer, which owns CCH, saw revenue for the half ended June 30 slide by 4.6 percent and earnings before interest, tax, and amortization off by 2.2 percent over last year's first half as the dollar pulled down results. However, the...

Thomson Buys Probate.(Brief Article)
October 1, 2004... Thomson has acquired the Probate Software line from Selden Integrated Systems, which had previously used the name Probate Software. Thomson folded the application. Customers of the Probate estate planning software will be given the...

TaxAnalysts Offers DVD.(Brief Article)
October 1, 2004... TaxAnalysts, which has previously offered its research materials on a CD as One Disk for several years, is now offering its products on DVD, which the company says offers significantly more storage. Using CDs required shipping separate...

Intuit Tax Biz Slows.(Brief Article)
October 1, 2004... Intuit's Professional Accounting Solutions, largely its ProSeries and Lacerte operations, posted a 3 percent increase in revenue for the year ended July 31. The company reported $251.9 million in revenue for the unit, but that included...

CSI Intros Client FCS.(Creative Solutions Inc.)(Brief Article)
October 1, 2004... Creative Solutions is giving its preparers another product to sell to their clients with the introduction of Client FileCabinet Solution. The storage application, a version of the company's FileCabinet Solution, will enable accounting firms...

RIA Launches RS to Go.(Brief Article)
October 1, 2004... RIA has introduced RS to Go, a desktop processing capability that is designed for users of its Web-based GoSystem RS tax processing system. RS to Go is for use by professionals who are away from the office. They may be at a client site and...

CCH VP Gets WK Spot.(Wolters Kluwer)(Brief Article)
October 1, 2004... Wolters Kluwer, which owns CCH, has named Dave Lampert to the newly created positions of senior vice president of business development. Lampert joined the company in 1993 as product manager for CCH and Legal Information Services and was...

Morningstar Buys ePiper.(Pensions & Investments)(Brief Article)
October 1, 2004... Morningstar has acquired the ePiper separate account database from Pensions & Investments, with the data expected to be added to Morningstar's database and products this month. Terms were not disclosed. Pensions & Investments will continue...

Show Calendar.(Brief Article)(Calendar)
October 1, 2004... October 21-23 Summit 2004 Timberline Software Annual Customer Conference Portland, Ore. www.timberline.com October 3-6 Exact Software Engage User Conference 2004 Hilton Chicago Chicago, Ill....

The Look of Tax Software: Tax software for 2004 is getting friendlier with other office applications.
October 1, 2004... The face of tax preparation software is changing. In fact, the face of desktop software in general is changing and tax software is part of a bigger trend as applications increasingly take on the appearance of Microsoft products. Across the...

Low-end Battle in Full Swing.(Brief Article)
October 1, 2004... One of the most notable moves was from Intuit, grappling with what it admitted was a loss of customers on the low-end for its year ended July 31. Revenue for Intuit's Professional Accounting Solutions division, largely from sales of Pro...

Tax Software Vendors Expand Web Services.(Illustration)
October 1, 2004... (part 1 of 3) Company Download Download Online Frequently-asked initial updates demos questions program ATX x x x ...

ATX: ATX offers users a complete return management system.
October 1, 2004... ATX's tax season started out a little bumpy last year with a server failure. Because of a SQL Server problem, ATX users were forced to resend electronically field returns they had sent during an 18-hour period, However, this season, users...

CCH: The new ProSystem fx Tax interface is designed to streamline data entry.(Company Profile)
October 1, 2004... CCH will be offering a familiar face in its new user interface for its ProSystem fx Tax software-a worksheet interface for the thousands of accountants who grew up with Excel. The Worksheet View allows users to input data directly onto...

Creative Solutions: Users will now be able to sell Client FileCabinet Solution.(Company Profile)
October 1, 2004... Creative Solutions is keeping it in the family as it extends the integration between its UltraTax tax preparation software and products for the tax and accounting office from sister companies. "There will be a wider array of integration...

Drake Software: Price cuts make Drake stand out among vendors.(Company Profile)
October 1, 2004... It's hard to miss the biggest change in Drake's tax preparation software-a 30 percent price reduction at a time when all other vendors have held the line on pricing or have implemented modest price increases. The reason for the decrease?...

Intuit ProSeries: New warning feature flags missing data and provides automated message for alerting clients.(Intuit ProSeries)(Company Profile)
October 1, 2004... To make it easier for tax preparers to improve customer service while speeding up processing of returns, Intuit has beefed up ProSeries with features that flag missing data and provide enhanced support for preparing multi-state returns. ...

Lacerte: Lacerte increases simplicity in filing complex returns.(Company Profile)
October 1, 2004... Preparers using this year's version of Lacerte tax software will be able to lock completed returns to prevent inadvertent changes, preserving the version of a return as it was filed to the Internal Revenue Service and meeting one of the biggest...

Nelco/Greatland: This tax season, Nelco's enhancements are focused on polishing its tax software product.(Company Profile)
October 1, 2004... The last two years have been busy ones for Nelco, entering the market and then making major enhancements to meet user needs. This year, the planned enhancements are more in the order of polishing the product rather than making major changes in...

Orrtax: Preparers can use Orrtax's IntelliManager to manage returns prepared at remote offices.(Company Profile)
October 1, 2004... Orrtax's primary focus has always been tax preparation. But now it wants to help its customers run their businesses more efficiently. The new IntelliManager for IntelliTax for Windows is a step in that direction, giving preparers in...

Petz Enterprises: Interest in the VTax hosted tax preparation is gaining momentum.(Company Profile)
October 1, 2004... After completing its second tax season with a Web-based tax preparation product, Petz Enterprises has seen VTax, its hosted 1040 service, adopted by more than 1,000 offices. And vice president of product development Charles Petz expects the...

RIA: RS to Go enables preparers to work in a disconnected environment, then upload returns when they can access the Internet.
October 1, 2004... A long time after many observers thought that online tax preparation would be the way tax practitioners prepared tax returns, RIA's GoSystem RS remains pretty much alone on the Internet. "We are still the only Web-based Internet product...

TaxSimple: The company is implementing the use of Microsoft Word for transmittal letters.(Company Profile)
October 1, 2004... TaxSimple is working, not just to keep up appearances, but to improve them significantly, whether it involves the way its screens appear or the look of printed documents. That concern for appearance and navigation starts with simplified...

TaxWise: TaxWise is expanding its product line beyond tax preparation software.(Company Profile)
October 1, 2004... The fact that Primus Venture Partners, a Cleveland-based private equity firm, has just purchased Universal Tax Systems, publisher of TaxWise, won't change some important things. The senior management of UTS and its founding shareholders retain...

TaxWorks: TaxWorks Paperless Office Initiative continues to move forward.(Company Profile)
October 1, 2004... For Laser Systems, the goal for the upcoming tax season is simple: to sharpen the technology it already has in place within TaxWorks and to make it easier and faster to use. "We have tried to back off from adding too much [to TaxWorks],...

Plan to Plan: Business planning tools provide a road map to the future.
October 1, 2004... The surest sign that the entrepreneurial markets have been forever altered by the crash of 2001 can be seen in the changes to business planning software. On the eve of 2005, it is clear that IPOs are still hard to come by, venture capital...

New Products.(accounting software)
October 1, 2004... VERTEX O SERIES Vertex O Series users can create unique taxability categories and define and apply their own sales tax rules. The platform supports all major tax types, delivering an integrated suite of solutions that share a common...

Intuit: Redesigning MasterBuilder's Channel: Intuit has changed its strategy to strengthen the customer's experience from sales through implementation.
October 1, 2004... Intuit's channel program for its MasterBuilder construction software is something like a layer cake. One group sells the software; another installs it; and Intuit ships the product and the invoice. And throw in another group that can refer the...

Advertisers' Index 10/2004.(Brief Article)(Illustration)
October 1, 2004... Advertiser Ad Appears on page ADP Small Business Service 19,21,23 Blackbaud 45 BothWorlds 43 CCH Tax and Accounting C4,37 ...

Nancy McKinstry Charts Wolters Kluwer's Progress.(Interview)
October 1, 2004... Nearly a year ago, Nancy McKinstry moved from New York to the Netherlands to take over as chair of the executive board of Wolters Kluwer, the company that owns CCH and Aspen Publishers. That job puts her in charge of a multi-billion dollar...

Goodman: What-ifs for CFOs and CPAs.(Chief Financial Officers, Certified Public Accountants)
October 1, 2004... Accpac's Comprehensive Financial Optimizer software is supposed to enable software resellers to establish relationships with accounting firms-it gives users the ability to project the impact of changes in accounting data, so that CPAs can...

Making It Easier.(Brief Article)
October 1, 2004... Ever since this magazine started publication a few years ago, we have always had the cover graced by a CPA. With this issue, we have veered off course somewhat and for the right reasons. Brian Hamilton is not a CPA. He holds an MBA from...

State-of-Art User Interface.(Worksheet View)(Brief Article)
October 1, 2004... Users of ProSystem fx Tax from CCH Tax and Accounting will now benefit from a new intuitive and streamlined user interface that leverages the latest technologies. The "Worksheet View" allows users to input data directly onto worksheets and...

Enhancing Retirement Plan Offerings.(Brief Article)
October 1, 2004... The Retirement Plans Services division of OppenheimerFunds Distributor, Inc. has enhanced its 403(b) and "Single Ksm" (401(k) plans designed primarily for owner-only businesses) plans. Participants in these plans and their financial advisors...

Marking One Millionth Grant.(Brief Article)
October 1, 2004... The Fidelity Charitable Gift Fund has crossed the one millionth grant mark to U.S. nonprofit organizations since its inception in 1992, bringing total grants to more than $4.4 billion and benefiting 84,000 nonprofit organizations nationwide....

Checkpoint Moves to Next Level.(Brief Article)
October 1, 2004... On the heels of capturing the Codie Award for best online tax or government information service from the Software & Information Industry Association, RIA's Checkpoint has announced various enhancements that include software innovations and...

FPA's Publishing Arm.(Financial Planning Association)(FPA Press)(Brief Article)
October 1, 2004... The Financial Planning Association has launched FPA Press, whose objective is to cultivate the body of knowledge of personal financial planning by providing books and electronic resources. The first book being released is Creating an Investment...

CFP Certification Means a Lot.(financial planners)(Brief Article)
October 1, 2004... A recent study conducted by the FPA reveals that the CFP certification has a positive effect on firm revenue. The 2004 FPA Financial Performance Study, sponsored by SEI Investments and produced by Moss Adams LLP, discovered that firms with such...

Failure to Establish Strategy.(Brief Article)
October 1, 2004... The American economy is the wealthiest on earth and almost every family should have a concrete financial management strategy in place to take advantage of it, states James Ferrell, a partner at Chastang, Ferrell, Sims, and Eiserman in Winter...

Fiduciary Guide Unveiled.(Brief Article)
October 1, 2004... The Principal Financial Group has released a new fiduciary guide to aid employers and their advisors in understanding the complex rules governing qualified retirement plans. Understanding and Managing Fiduciary Responsibility: A Guide for Plan...

Uneasy Consumers.(Brief Article)
October 1, 2004... The 2004 Certified Financial Planner Board of Standards Consumer Survey reveals that the economic uncertainty has left consumers worried about their finances and looking for ethics and competency standards in their financial advisors. In fact,...

Florida Disaster.(Brief Article)
October 1, 2004... ImageOne has developed several free disaster loss products to assist with the aftermath of the recent Florida disasters. These free resources include a continuing education review course on casualty losses and a six-page client advisor...

Orchestrating a Budget.
October 1, 2004... Version 5.8 of Budget Maestro integrates planning, budgeting, budget forecasting, consolidation, and reporting into a single source. This version includes 30 new pre-formatted report templates, for generating reports that can be created by...

Planning Calculations.(financial planning application)(Brief Article)
October 1, 2004... Total Planning System, financial planning application, includes Money Tree Suite's Easy-Money and Golden Years, and is adaptable to installation for single users, small groups, and large enterprises. The Total Planning System delivers financial...

Managing Accounts.(Brief Article)
October 1, 2004... Portfolio Systems' Portfolio Director helps professionals manage multiple accounts. It offers reports, updates, portfolio yields, and allocation reporting and benchmark comparisons. The position summary allows users to see a complete listing of...

Formatting Statements.(Brief Article)
October 1, 2004... Pro-formas For Professionals Version 4, an Excel-based cash flow forecasting and budgeting model, formats the statements for any type and size of company. It automatically creates .PDF files, forecasts an unlimited number of years with...

Increasing Clients' Profitability.(Mount Ritter Group)(Brief Article)
October 1, 2004... The Mercadien Group has announced the merger of the Mount Ritter Group. This will add 12 professionals to the Mercadien team. "We have, as part of our strategic plan, been looking for a group of professionals who share our values, commitment,...

Managing IT.(Brief Article)
October 1, 2004... ICG Investment Consulting Group has selected CenterBeam to manage its IT infrastructure in its headquarters and field offices. ICG is a solutions-based financial firm for individuals and professional organizations. It specializes in helping...

Generating New Business.
October 1, 2004... AccountantsWorld and The National Conference of CPA Practitioners (ncCPAp), announced a strategic partnership designed to help ncCPAp members profit from the Internet by generating new business, strengthening their client relationships, and...

Investment Opportunity Taken.(Brief Article)
October 1, 2004... Primus Venture Partners has acquired Universal Tax Systems in a transaction valued at $65 million. UTS publishes TaxWise Software used by accountants and professional tax preparers for federal and state income tax returns. Philip Molnar, a...

Completing Integration.(Genworth Financial has completed the integration of the registered representatives of Hochman & Baker Securities)(Brief Article)
October 1, 2004... Genworth Financial has completed the integration of the registered representatives of Hochman & Baker Securities into its personal advisor network, Terra Securities. The acquisition of HBS now enhances Terra's capabilities in several areas and...

Online 401(k) Planning Guidance.(Brief Article)
October 1, 2004... MetLife Retirement & Savings has plans to offer online retirement planning guidance from Morningstar Associates, LLC, a registered investment advisor and wholly owned subsidiary of Morningstar, Inc. Morningstar Associates offers this...

No More Directed Brokerage.(Brief Article)
October 1, 2004... The SEC has voted to prohibit mutual-fund firms from directing business to brokers as a reward for selling fund shares to investors. SEC Chairman William Donaldson says that the practice of directed brokerage presents "opportunities for abuse"...

Exempting Stockbrokers.(Brief Article)
October 1, 2004... The Financial Planning Association has agreed not to oppose a formal motion by the SEC delaying a legal challenge until next year, giving the federal agency an opportunity to act on a controversial regulation affecting consumers and financial...

Fair Value Measurements.(Brief Article)
October 1, 2004... In response to requests from constituents to improve the current guidance for measuring fair value, the Financial Accounting Standards Board has published an Exposure Draft, Fair Value Measurements, that seeks to establish a framework for...

Denting the Earnings.(Brief Article)
October 1, 2004... More than a quarter of the companies in the United Kingdom expect the introduction of new accounting rules in 2005 to dent their earnings, a study by the Institute of Chartered Accountants in England and Wales showed. Some 27 percent of...

Soft Dollar Crackdown.(Investment and Financial Services Association)(Brief Article)
October 1, 2004... The Financial Planning Association and the Investment and Financial Services Association (IFSA) say that they have outlawed several methods of alternative remuneration and will now look to how rebates, commissions, and conflicts of interest in...

Turning Numbers Into Profit.
October 1, 2004... The tall young man was standing in front of a large blackboard giving a lecture for Duke University's continuing education program. He had recently received an MBA from the university's prestigious Fuqua School of Business. The blackboard was...

In Support of CPA Financial Planners.(certified public accountants)
October 1, 2004... In 2005, the AICPA will celebrate its 20th year in supporting CPAs as they continue their role in the expanding field of personal financial planning (PFP). In many respects, the CPA profession has had a significant role in shaping and directing...

Winning Opportunities in Today's Environment.(accounting)
October 1, 2004... Recent events in the profession will continue to result in more and larger clients evaluating a potential change in their CPA firm over the next couple of years. Firms which invest in the expertise necessary to win significant opportunities...

Helping Clients to Invest.
October 1, 2004... Each year, millions of Americans enter a new phase of their financial lives; i.e., transitioning from wealth accumulation to income generation. Entering retirement and beginning the "distribution phase" of one's financial life involves a major...

Handling Closely Held Businesses.
October 1, 2004... Business owners often spend significant time running their companies but very little time planning for future events, including how to transition the company upon their retirement, disability, or passing away. As the owner of a closely...