•www.cpafirmtech.com

Transcription

What about Randy?
Technology Tools for Your
Practice
Presented by Randy Johnston
K2 Enterprises
• Inducted Accounting Hall of Fame, Feb
2011
• 2004-2011 Accounting Today 100 Most
Influential in Accounting for seven years
• 30+ years of technology experience
• Author of articles on Technology
including
a monthly column in CPAPractice Advisor
• Top rated speaker for over 25 years
• Published author of five books
• From Hutchinson, KS
• [email protected] or [email protected]
• 620-664-6000 x 112
Copyright © 2011, K2E, LLC All Rights Reserved
What about NMGI?
CPA Firm Technology Website
• CRN top 100 technology company
• MSPMentor top 100 company
• Announced June 7, 2010 the general
availability of national CPA support services
• NetCare and NetHosting – Managed and Cloud
services
• NetRescue and NetStore – Backup Appliances
and web-based backup
• nPEN – Secure email, HR – Business and
personal goal achievement and management
track training, BC/DR – Full documentation and
backup services
• www.cpafirmtech.com
Reviews, product listings,
recommendations, articles,
warnings, etc.
What Should You Ask?
Security and Privacy
Serious Risks For Accountants
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Significant financial loss
Loss of credibility and future business
Loss of right to practice
Fines
Imprisonment (not likely unless there was
gross negligence or intent)
SaaS Cloud Computing model
ASP
Your Firm
(e.g. AccountantsWorld)
Web-Applications,
Storage, Secure
Access, Backup
Staff at Client Site
Remote Staff
Vacation
Source: AccountantsWorld
Client Location
(SaaS)
Client in
multiple locations
Tax Software Market
Major Tax Compliance Suites
Single User, No
Office
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CCH (ProSystem fx, ATX/TaxWise)
Thomson Reuters (UltraTax CS, GoSystem)
Intuit (Lacerte, ProSeries)
Drake (Drake Tax)
RedGear (1040Works, TaxWorks)
•Working out of
home
•Possibly part time
•Limited Number of
Returns, all 1040’s
•Includes Unenrolled
Preparers, low end
EA’s, Retail Tax
Practitioner
Small Firm
•May want DMS
•Needs ease of input
•Staff are
bookkeepers or
other paraprofessionals
•Association of
Independents
•Shared Staff and
Services
•Need To Manage
Multiple
Preferences
No User Security
1040Works
IRS Instruct. Available
•Consolidations
•Import/Export
•Departments
•Role-Based Security
Multi-Office or
Large Single
Office
Multi-Office,
Enterprise
Solution
•Records
Management
•Multi-Office Access
•Overall
Management
Reporting
•Customizable
Workflow
•The most complex
returns
•Portal Integration
•Complex security
requirements
Basic User Security
Granular Security (templates,
role-based)
Integration with AD,
Hosted/SaaS Available
Electronic w/ Integration to
Online Research
Electronic w/ Integration,
AutoUpdate for new
guidance, changes in
assessments
Elect w/ Integration, supports
firm-specific
procedures/preferences
Integrated with AD
Runs Local or SaaS Seamlessly
GoSystem RS
TaxWorks
Limited Electronic Guidance
Medium Sized
Firm
Elect w/ Integration, supports
department-specific
procedures & preferences
ProSystem fx Tax
Import from QuickBooks,
Quicken, Peachtree,
Spreadsheet
Import Manager with
Customizable Templates,
Limited Support for
Engagement Software
Scan, Organize Available from
Third Parties
Scan & Organize from Vendor
or 3rd Parties
Drake Tax
Base Practitioner Application
for 1040s
Customizable Import
Manager
Supports All Engagement
Software
Supports RALs
Single Preparer
ProSeries,
Live Interview Model
Single PC
Scan & Organize, Import
Schedule D
Interfaces w/ Outsourcers
Scan, Organize, Populate
Interfaces w/ Outsourcers
Built-In Outsourcing Support,
Complex or Customizable
Portal Support
§ 7216 Masking Features
No DMS,
Portal Support
ATX, TaxWise
Portal Integration
Simple
Portal Integration
Versioning
Open Database
Multiple Integrated Portals
with Strong Automation and
API
UltraTax CS
Workflow with Departments
& Offices
Customizable Workflow,
Tight DMS Integration
Check -n, Check-Out
Limited Portal Integration
Electronic File Cabinet
Basic Workflow
Complex 1040
1120, 1120S, 1065
Workflow with Departments
Lacerte
Complex 1040, 1120, 1120S,
1065
plus 5500, 706, 709
All Complex Returns
Deep Industry Support
CCH
All Complex Returns and
Industries
Single Tier Consolidations
All Complex Returns and
Industries
Multi-Tier Consolidation
Multi-User in One Return
Pfx Tax Application (Next Gen)
• ProSystem fx Tax – High end, full featured
– Now handles multi-tiered consolidations
– Two versions of Next Gen:
• Foundation (traditional, locally installed)
• Next Generation (available only as SaaS)
– Next Gen platform for local (Foundation) install
will not launch until after next tax season
(2Q/2011)
• Small Firm Services – Lower end, acquisitions
– ATX
– TaxWise
Thomson Reuters
Application Integrations
Thomson Reuters
• GoSystem Tax
Virtual Office CS
– High End Tax Application, supports multi-tiered consolidations,
departments, multiple offices, etc.
– Web-based. Most use SaaS version, although local installation is available.
– Target is top 30 firms, plus users who need high end features.
– Strong integration with GoFileRoom & FirmFlow.
• UltraTax CS
– CS Suite Tax Application
– Effort in recent years to bring up level of application to be more
competitive with feature set of ProSystem fx.
– Strong integration with other CS Suite apps as well as
GoFileRoom.
• Different sales channels, sales force, although both
sales groups sell both product lines.
Practice CS
Client
Bookkeeping
Solution
Engagement CS
GoFileRoom &
FirmFlow
NetClient CS
(Client
Portals)
GoSystem Tax RS
& Ultra Tax CS
RIA/PP
C
Microsoft
QuickBook
s
SurePrep
GoSystem Tax
• Enterprise-grade product
Thomson Reuters UltraTax CS
• Medium to high end, full featured
– Supports the most complex entities
– Supports multiple users in a return at the same
time and multiple security settings
– Supports multiple offices, departments
• Delivered as web-based SaaS application
• 9 of the Top 10 Accounting Firms use
GoSystem Tax
• ~70,000 total users
• May be too complex for low end returns
– Supports all federal and state forms
– Multi-tiered consolidated returns require
GoSystem, but UltraTax handles most other
tax needs.
• Strong integration with CS Applications
• Two versions:
• Locally installed
• Delivered over Citrix using Virtual Office CS
UltraTax CS
Lacerte Tax (Intuit)
• Flagship Intuit tax application, supports complex
returns and all states for 1040, 1120, 1120S, 1065,
and 990
• 706, 709, 5500, and 1041 available for Federal and
selected states
• Pay per return and unlimited versions available
• Write Up software available (formerly known as
EasyAcct)
• Strong QuickBooks integration
• Scan and Organize (OEM Copanion,) portal
solutions available
ProSeries Tax (Intuit)
• Professional and Basic versions, Website describes
basic version as “the perfect upgrade from TurboTax”
• Entry level product focused on value pricing and ease
of use. Designed for retail tax and less complex
corporate returns, supports RAL/bank products.
• Focused on 1040 productivity and the most common
forms, Pay as you Go and packages available
• Scan and organize available
• True SaaS tax prep app available through Intuit
ProLine Tax Online Edition (new for 2010 tax season)
• Preparer certifications and Accountant Work
Exchange for people looking for help on projects
Drake
• Key player in EA and value segment
• Application suite is value priced (from
$1,300) and includes:
– 1040/1120/1065
– RIA Research
– Tax Planner
– Document Management
– Time & Billing/Practice Management
Drake
Drake Tax
• Designed for speed and quick data entry. Data entry is
designed to not require you to use the mouse.
• Goal of support is to have an agent answer the phone
and resolve issues without ever using an automated
attendant. Every person in the building (including
senior executives), field support calls to make this
happen.
• Good fit for tax-driven firm who wants everything for
one low price.
• Good fit for startups, retail 1040’s
• Features competitive with ATX, TaxWise, 1040Works,
and TaxWorks, and Drake is priced below their
competitors.
TaxWorks
TaxWorks Features
TaxWorks = RedGear = HR Block = McGladrey
• TaxWorks offers a full compliance suite, including
1040, 1120S, 1120, 1065, 1041 Federal and State
forms and schedules.
• The product supports Federal Forms 706, 709, 990,
and 5500 and select states.
• A Fixed Asset Manager is included which handles
all fixed asset needs including complex
dispositions.
• TaxWorks is currently in use by approximately
12,000 independent offices, 30,000 professional
tax preparers which includes CPAs, EAs, and
Attorneys, and 4,200 H&R Block offices.
• TaxWorks publisher, RedGear Technologies, is
owned by H&R Block.
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Asset Manager
Hover & Flip
Estimated Fields
Form Filler
Excel Import / Export
Detail Statements
Keyboard Short Cuts
Client Data Conversions
QuickBooks Import
• Real Time Calculation
• Flexibility in Form
Selection
• Kiddie Tax Import
• K1 Import
• Partnership Special
Allocations
• Tick Mark on Output
Forms
• Audit Trail
How Important is Resolution?
• There are many scanner options on the
market today that allow choices of 300
dots per inch (DPI) to a 4600 DPI or higher.
• Experience tells us that you most likely will
not need more than 300 dpi for scanning
basic text document or photo prints or 600
dpi for line art documents, assuming that
printing is at the original size.
Copyright 2009 © K2 Enterprises
Recommended Resolution
• General Document Management:
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300 dpi, black & white
Scan to PDF or TIFF based on application recommendations
Set compression to CCITT Group 4 Fax
Configure & Use Kofax VRS Pro properly (CRITICAL)
Scan & Organize Package Recommendations
• SurePrep: 300 DPI, Black & White. Detailed configuration steps, including
Kofax VRS configuration available in initial certification process, contact
account manager for configuration instructions.
• Copanion GruntWorx : 600 DPI, Black & White. Scanner settings and
scanning tips online @ http://bit.ly/CGWXSCAN
• Thomson Reuters: 300 DPI, Black & White for scan/organize, 100 DPI
B&W for document management. More info @ http://bit.ly/TRSCAN
• CCH: 300 DPI, Black & White. Tips @ http://bit.ly/pfxscan
Capture Preparation Software
Original Document Image
• What is Capture Preparation
Software?
– The software that talks to the interface
software (TWAIN or ISIS)
– Basically responsible for cleaning up
images as well as compression and so
forth.
– Leading vendor is Kofax,
www.kofax.com
Scanned without Preparation
Scanned with Preparation
Kofax VRS is under $300 depending on features, included with many scanners, $1995 for Pro
EFFICIENT NAVIGATION
ProSystem fx Document (SaaS)
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Intuitive / Customizable User Interface: Completely redesigned user
experience which utilizes Microsoft standards for consistent
functionality.
Enhanced Search, Filtering, & Grouping Capabilities: New Outlooklike search functionality. File Groups allow diverse forms of
information to be flexibly grouped and made quickly accessible.
Centralized Management: A suite-wide Administration Manager
significantly reduces system administrative overhead and helps
assure the consistent application of user privileges.
Drag-and-drop capability allows files to be quickly added by dropping
onto Document.
Improved accessibility provides the ability to leverage resources
across multiple offices.
Status indicators allow users to quickly
determine document availability
Navigation panel allows the user to
easily move between Clients, Staff, and
Non-Clients
FileCabinet CS
FileCabinet CS
• Thomson Reuters CS-Suite document
management system
• Tight integration with CS Suite applications,
and supports storage of data files in native
format
• Available as a hosted application through
Virtual Office CS, or as a locally installed
program
GoFileRoom
GoFileRoom
• Web-based DMS
• Designed to be easy to use and scalable.
• Notable price reductions in 2010.
• Used by firms as small as one, and as large as
1500.
• 70% of Top 100 firms that use a 3rd Party DMS
(including one Big 4 Firm) use GFR.
• Integrated with client portals and most
applications.
Doc-It
• Doc-It is a full-featured document management
system (DMS) which also includes a records
management system (RMS) to help firms deal
with completed files during their archived life
(e.g. after they are finalized but before the
supporting records are destroyed).
The Doc-It Inbox is
where Items go when
first printed to PDF
with the Doc-It DM.
Doc-It includes a PDF
Editor which can be
used to create, edit,
and annotate files
without the added
expense of Adobe
Acrobat licenses.
Doc-It Archive Explorer
Intuit (Lacerte / ProSeries)
• Lacerte DMS is sold as an add-on to
Lacerte or ProSeries
• Basic electronic file cabinet
• Strong integration with Intuit’s ProLine tax
applications
• May not be as adaptable as some DMS
applications to applications other than tax
document storage
Drake Document Manager
Drake Document Manager
• Drake Document Manager is a multi-user
electronic file cabinet (EFC) which is
designed to allow users to organize and
index documents based on a three-level
hierarchy:
– Cabinets
– Drawers
– Folders (can have multiple levels of folders)
• Drake DM is included with purchase of a
Drake Software package
XCM Update
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Control Sheet
http://www.xcmsolutions.com/
XCM* workflow
CPA firm and industry workflow
List of features
Security
Documents Linked
RedGear TaxWorks has ArkWorks
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Multi-User Security
File Encryption
View Documents
Document Maturity (version control) and Audit Trail
Edit and Annotate Documents
Email
Print to Fax
Export (Burn to CD or other removable media)
Scan
Import all file types
45
Accounting Portal Hosting Vendors
CPA Firm Portals and Security
• Portals provide a more secure way to:
– Transfer tax documents to the client
• Thomson Reuters – NetClient CS
– http://cs.thomsonreuters.com/portals
• CCH ProSystem fx Portal
– http://tax.cchgroup.com/portal
• ShareFile - http://www.sharefile.com
• Sage AssuredSend/LeapFile
– http://www.sagesend.com
– Gather tax organizer information
– Provide payroll services to clients
– Store and exchange working
documents with clients
• Website Relief by AccountantsWorld
– http://bit.ly/WSRELF
•
•
Additional solutions are available from almost every tax and
document management vendor.
We DO NOT RECOMMEND that you do this internally. The time,
compliance requirements and technical knowledge needed to do this
right mean that most firms will outsource this function.
Portal Main
Sharefile for Accountants
• www.sharefilecpa.com
• With over 450,000 users in 120 countries
• One of the leading file transfer services for small
and medium businesses
• Version designed for CPA firms
• Site branded with firm’s logo & layout
• Exchange confidential tax documents with your
clients in a completely secure, professional, and
easy manner
• Transmit large QuickBooks, PDF, Excel, or any other
type of business files and make them available for
password-protected download by your clients.
Website Relief
AccountantsWorld
CCH
• New Product – ProSystem fx WorkStream
– Offered as SaaS only
– Integration is best with Next Gen applications
• Most Foundation clients using XCM for tax
workflow
• AutoFlow technology in ProSystem fx Scan
is a key workflow tool – more on this later.
Doc-It Workflow Manager
Research Tools
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CCH (CCH/Miller/Kleinrock)
Thomson Reuters (RIA Checkpoint/PPC)
Intuit (ProLine Research is BNA OEM)
Other/Independents
– BNA
– Tax Analysts
– IRS
Doc-It Workflow Manager
CCH - IntelliConnect
• IntelliConnect replaced Tax Research Network in 2009
– New platform, new/casual users accepted changes OK. Some
existing TRN users did not like the new UI.
– New platform offers Google-like search capability
• Tax (IntelliConnect) and A&A (Accounting Research Manager)
currently on separate platforms, require separate logins
• SmartCharts allow comparison of data by jurisdiction or other
attributes
• Integration with ProSystem fx Correspondence Manager
• Miller A&A guidance achieving critical mass as a PPC
alternative
• Training offerings for staff which dovetail with applications and
guidance
• Major improvements released 2H 2009, many planned for
calendar 2010
Intuit – ProLine Tax Research
Thomson Reuters – RIA Checkpoint
• RIA CheckPoint Research Portal
– Same platform for Tax & A&A Content
– One of two (with CCH) leading full-featured
online resource platforms
– Includes PPC audit content, RIA tax content,
and numerous national and international
sources for authoritative and interpretive
guidance
– Includes RIA’s US Tax Reporter, which is their
baseline tax research service
• Licensed BNA content, includes IRS code,
instructions
• Annual, monthly, or daily subscriptions
• Daily subscriptions may be a good tool for
those who need to do occasional research
• Research pane appears in Lacerte and
ProSeries
ProSystem CCH (fx) Scan with AutoFlow
Technology
Thomson Reuters
1. Leverages Technology to Enhance Efficiency
• GoSystem – TaxSort application is their tool
for scanning, organizing, and populating
tax data into GoSystem
• UltraTax – UltraTax SourceDoc Auto Entry is
the UltraTax tool for scanning, organizing
and populating documents into tax
software
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2.
Automatic identification of source documents allows a preparer to
begin value-added work immediately instead of spending valuable time
copying, sorting and organizing client 1040 source documents.
Automated data entry for the most commonly used forms removes the
need for time consuming manual data entry and allows the preparer to
focus on issues requiring professional judgment.
System-generated diagnostics which highlight areas requiring attention
help assure the completeness and accuracy of available information.
Expanded functionality for Adobe Acrobat dramatically reduces the
technical expertise required and reduces the time necessary to perform
common functions.
Promotes a Consistent 1040 Preparation Process
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All workpapers reside in a single, organized, consistent PDF file
benefiting preparers, reviewers, and partners.
CPA-specific tools such as tickmarks, hyperlinks and a 10-key calculator
promote preparation and review standardization.
ProSystem CCH Scan with AutoFlow
Technology
3.
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Preparing 1040 Source Documents For Scanning
Provides the Benefits of being Paperless
Security is enhanced by utilizing digital vs. paper files as digital files
can be encrypted, locked and protected from unauthorized access.
Remote access to paperless documents allows the CPA to provide
better client service.
Multi-user access to paperless documents facilitates collaboration
and reduces interruptions.
On-demand access to digit files allows a partner to retrieve
information quickly thus reducing callbacks and phone tag.
Reduced overhead costs can be achieved by eliminating the time
spent filing and looking for misfiled or missing paper files. Filing
cabinets require expensive office space not required for digital files.
K1
W2’s
Cover Page
Brokerag
e
Organizer
1099’s
Single Page
K1
Multi-Page
AutoFlow Wizard
Scan PDF File
Double click on appropriate
return to link & AutoFlow
Wizard automatically obtains
pro forma information from
ProSystem Tax
The imported fields are
highlighted in the Scan PDF file
62LLC All Rights Reserved
Copyright © 2011, K2E,
A&A Software Market
Single User, Single
Office
Multiple Partners
Mid-Sized Firm
•Association of
Independents
•Shared Staff and
Services
•Need To Manage
Multiple Preferences
•Consolidations
•Import/Export
•Departments
•Role-Based Security
Payroll
Small Multi-Office
or Large Single
Office
Multi-Office,
Enterprise
Solution
•Records Management
•Multi-Office Access
•Overall Management
Reporting
•Workflow
•Portal Integration
•Complex security
requirements
Engagement Software
Excel
Pfx Engagement, Engagement CS, CaseWare
QuickBooks
and Peachtree
Compliance Apps
AverQ, TeamMate, Conexxus
(for PCAOB/SEC or Internal)
Trial Balance and Write Up Apps
CS Accounting, Pfx Trial Balance, EasyAcct, Drake Write Up, Others
AccountantsWorld Accounting Relief
Power Tools
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Client Collaboration
Real-time access
Alerts
Ratios
Dashboard
Importing of bank
and credit card
statements
• myPay Solutions (www.mypaysolutions.com)
– ThomsonReuters owns, have direct or indirect models
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Intuit Online Payroll (payroll.intuit.com)
Sage Payroll (www.sagepayservices.com)
AccountantsWorld.com Payroll Relief
Major service bureaus (ADP, Paychex, etc.)
– See if your CPA society has a discount program
• In-house options from all publishers, see your
publishers website.
AccountantsWorld Accounting Relief
Power Tools: Dashboard
• Integration
• Drill down
functionality
• Training tools
Partner Programs for CPAs
• Sage Accountants Network
(www.sageaccountantsnetwork.com)
• QuickBooks ProAdvisor Program
(proadvisor.intuit.com)
• Free Accounts for Practitioners
(Internal use only):
• SmartVault.com
• Bill.com
Avalara
Avalara is a full-service sales tax company
that uses SaaS to automate statutory
transactional tax compliance processes. The
fast, easy, accurate and affordable way for
you to calculate, collect, report and remit
transactional taxes.
More info in 12/08 CPA
Technology Advisor article @
http://bit.ly/cpa-plans
Avalara
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Research & Guidance
• Research Services
Integrations
Automated Solutions
Compliance Solutions
Rates Solutions
– RIA CheckPoint (PPC/RIA/Thomson)
– Accounting Research Manager (CCH)
• Practice Aid templating and customization
tools
– Primarily for audits, not all titles supported
– Full functionality only available with the
related publisher’s Engagement application
– ProSystem fx Knowledge Coach
– PPC Smart e-Practice Aids
Free Rate Calculator
Demo Center
What is Knowledge Coach?
• Application that automates an audit from
end-to-end: from planning through
completion
• Runs as an add-on to Engagement, CCH’s
world class workpaper manager solution
• Utilizes CCH’s KBA (Knowledge Based
Audit) content to guide the audit
• Recently passed AICPA Peer Review –
Delivery of compliant content in a software
application
72LLC All Rights Reserved
Copyright © 2011, K2E,
Knowledge Coach Key Features
• Guided & Streamlined Audit Planning
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Dynamic tailoring questions
Program step library
Direct linking of risks & program steps
Customization & templates
• Transparent Data Flow Between Workpapers
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Workpapers linked and updated automatically
Changes on-the-fly
Drill-downs to source information
Answer effects
• Managed End-to-End Workflow
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Expert industry-specific guidance
Contextual links to on-line research
Detailed diagnostics
Full integration with ProSystem fx Engagement
ProSystem fx® Engagement
Industry specific
questions help
tailor your program
steps and
workpapers to your
client
• Strengths
You can add and
summarize risks
from anywhere
using the risk pane
ProSystem fx® Engagement
• Strengths
– Security of computer backup of all files.
– Risk mitigation you need for document storage
and retention – compliant to Sarbanes-Oxley
and other regulatory compliance rules.
Engagement CS
– Grant access to engagement binders by
individuals or by binder teams – or simply
choose to assign all staff to all binders.
– Filter clients by group, using different
methods.
– Automatically update users with changes to
staff and security rights as they log in to the
program.
– Instant access to client files from any location
at any time.
Brief Product Description
• Engagement’s secure environment gives you control over
who has access to sensitive client information. Be
confident that you’re in compliance with security features
that allow you to:
– Ensure file integrity by securely managing every
document from inside the program.
– Avoid unintentional or unauthorized changes by
setting access rights for all of your staff groups.
– Obtain secure online sign-offs by preparer and
reviewer, and lock documents after final review.
– Manage binder and workpaper completion dates to
ensure compliance with 45- or 60-day requirements.
System's Three-Pane Layout
• Strengths
– Standardize and Streamline Entire Engagement
Process
– Ensure Compliance
– Ensure Accuracy
– Benefit from a Completely Paperless
Engagement
– Powerful Trial Balance Capabilities
– Integration with PPC Smart e-Practice Aids
Paperless Engagement Workflow
Accounting Firm
Engagement
Sources
•Microsoft Office
•Trial Balance
•Scanned Documents
•Information Workflow
Management
•QuickBooks
Financial
Analysis
CS
GoFileRoom
Web Services
•Other Content
PPC
•e-Tools
GoSystem Tax
•SMART e-PAs
RIA
Engagement CS – Advantage Points
• Powerful review tools – review window
and tab view
• Multi-Staff collaboration & security
• Multi-User Trial Balance for
collaboration & accuracy
• Virtual Office & portal technology
•Checkpoint
•Research
Integration with PPC Checkpoint
Tools & SMART Practice Aids
Engagement CS
Integrated SMART Rollforward
Diagnostics - Unsigned Program Steps
Thomson Reuters
Engagement
CS – PPC
Checkpoint
Tools &
Data Center
Bunker
Infrastructure
SMART Practice Aids on Virtual Office CS
Thomson Reuters Confidential
Confirmation.com
• Electronic Confirmation Solution
• Launched Summer 2003
• Created & patented electronic audit confirmations
• Integrated with: Thomson Reuters, CCH, CaseWare, &
AverQ (soon)
• Mandated by: Bank of America, SunTrust, Citizens, HSBC
& many others
• Reach 100% of responders: In-Network, Out-of-Network,
Paper
• 15+ types of confirmations: Bank, AR, AP, Investment &
more
84
Paper Confirmations
Order Paper Forms
Order
Envelopes
Client
1.
2.
3.
4.
5.
4 - 6 week turnaround
30+ steps
40% lost/error rates
$120+ per confirmation
Responder not
validated
CONFIRMATION.com
Historical Confirmation Response Time Statistics
Response Rate*
Reconfirmation Rate*
AP/Bank Clerk
Supply Room
Fax
Order/Stocking
Clerk
Mailroom
Ave. Turnaround (days)
Min. Turnaround (minutes)
Max. Turnaround (days)
% Turned in 2 days
% Turned in 3 days
% Turned in 5 days
Electronic Confirmations
2006
2007
2008
2009
TOTAL
100.00% 100.00%
100.00%
100.00% 100.00%
5.7%
8.9%
8.3%
10.1%
9.7%
Mailed Paper
Confirmations
71.55%
43.43%
1.78
1
18.80
1.07
1
16.16
0.91
1
12.23
1.06
1
36.81
1.08
1
36.81
21.00
7,200 min.
56.00
81.11%
90.94%
95.88%
88.93%
94.15%
98.09%
92.47%
96.90%
98.57%
93.53%
95.94%
98.74%
92.60%
95.66%
98.56%
0%
0%
< 1%
* For Mailed Paper Confirmations, the results are the combined results from research studies
looking at response rates: Davis et al. 1967; Sauls 1970; Hubbard & Bullington 1972; Armitage
1990; Engle 1991; Engle & Hutton 2001; Allen & Elder 2001; Elder & Allen 2005.
Mailroom
Accountant
Operations
Accounting Firm
Relationship Manager
Free Guide to Electronic Confirmations @ http://bit.ly/ELEC-CONF
1st Request
2nd
Request
Fax Request
US Post Office
Phone Call
88
Source: Capital Confirmation
Copyright © Mailroom
2011, K2E, LLC All Rights
Assistant
Reserved
Local Office/Branch
Data Analysis Tools
Practice CS
• Microsoft Office
– Excel & Access
• Office Add-ins
– BizNet
– ActiveData by InformationActive
(www.informationactive.com)
– @Risk by Palisade Software
• Tools for the Data Specialist
– ACL
– CaseWare IDEA
• Data Tools for Internal Audit Groups
– ACL/IDEA Server Applications
Custom Format Tool
•
•
•
Create new formats and edit existing formats/reports
Create/edit reports, letters, labels, invoices & statements
Use any custom fields, create custom formulas, and more
Staff Scheduling
• View staff schedule with all schedule items (benefits, Practice
CS projects & tasks, Outlook items, etc.)
• Create work queues that allow work to be assigned to a pool
• Staff dashboard portlets allow staff to see all scheduled &
assigned work
Drake Practice Management
Drake Practice Management
• Included with Drake subscription
• Key Features
– Appointment scheduler
– Return tracking
– Client status manager
– Multi-office manager
More Information@http://bit.ly/DRAKEPM
TPS Billing
TPS Time & Billing
TPS Provides for
4 types of billing
• Designed specifically for public accountants
• More than Time & Billing – the first real
Practice Management tool designed for
small-to-mid-sized accounting firms
• Capable of handling firms from 1-75
timekeepers – never outgrow it..
• Small to mid-sized – MS Access
• Mid-sized and larger – MS SQL Express
Quick Bill
(all outstanding WIP)
Detail Bill
(selected items of WIP)
Progress Bill
(or interim bill)
Monthly/Quarterly
Flat Billings
Other Practice / T&B Applications
Office Tools Professional
• www.officetoolspro.com
• Client information
– Notes
– Call logging
– To Dos
• Workflow
• Staff management & scheduling
• Time & Billing
•
•
•
•
•
•
•
•
APS Advantage - Commercial Logic, Inc.
PowerPM – Commerical Logic, Inc.
CaseWare Time
BillQuik
Thomson Elite
Timeslips by Sage
CCH Next Gen Practice
Maconomy
Questions
What Should You Ask
Technology Items to Consider
Technologies To Watch
• Hardware
– Next Generation
Firewall
– Sandbox in Sandy
Bridge
– Smart Devices
– Wireless/MIFI
• Technology Strategies
– Managed Services
– Private/Public/Hybrid
Cloud, SaaS
– Horizontal, Vertical,
Custom
• Software
–
–
–
–
Windows 8
IE 10
iOS 5 & Mac OS X Lion
Office 2013/365
Top Technologies – A Baker’s Dozen
1. Control and Use of 8. Technology Cost Controls
Mobile Devices
9. Budget Processes
2. Information Security 10. Project Management &
3. Data Retention
deployment
Policies and Structure 11. Spreadsheet
4. Remote Access
Management
5. Staff and
12. Overall Data Proliferation
Management Training and Control
6. Process
13. Privacy Policies and
Documentation and
Compliance
improvements
7. Saving and Making AICPA survey 2/15/2011
Money w/Technology
Baker’s Dozen Hardware
1. Reliable, Redundant
internet access
2. Firewall/Router that
will secure the
network
3. Good cabling
4. High Speed Switches,
Power Over Ethernet
5. Secured and
unsecured wireless
6. Virtualization
7. Backup Appliances
8. Printing – MFP,
copiers, standalone
9. Scanning
10. Docking stations
11. Desktops and Laptops
12. Monitors
13. Smart Devices
Next Generation Firewalls (NGFW)
1.
2.
3.
4.
5.
Application Awareness and Full Stack
Visibility
Integrated Rather Than Co-Located IPS
Extra-Firewall Intelligence
Standard First-Generation Firewall
Capabilities
Support “bump in the wire”
Deployments
Next Generation Firewall
Identify
Categorize
By Application
- Not by Port & Protocol
By User/Group
-Not by IP
By Content Inspection
-Not by Filename
By Application
By Application Category
By Destination
By Content
By User/Group
Users/Groups
Prioritize Apps by Policy
Manage Apps by Policy
Block Apps by Policy
Detect and Block Malware
Detect & Prevent Intrusion Attempts
Policy
Application Chaos
Critical Apps
So many on Port 80
Massively Scalable
Next-Generation
Security Platform
Acceptable Apps
Prioritized Bandwidth
Managed Bandwidth
Egress
Ingress
High Performance Multi-Core
Re-Assembly Free
DPI
Unacceptable Apps
Blocked
Malware Blocked
Cloud-Based
Extra-Firewall
Intelligence
Visualize &
Manage Policy
Visualize
1
0
6
Baker’s Dozen Software
Control
CONFIDENTIAL All Rights Reserved
1. Anti-Virus
8. Point Solutions – Concur
Expense reporting,
2. Encryption software for
Confirmation AP, Avalara
computers and email
9. CRM – Results CRM, Sage
3. Licensing strategy
CRM, Dynamics CRM
4. Apps
10.
HTML
5 and new generation
5. Business Intelligence,
browsers/ websites /tappable
including CPA firms
6. Reporting – ClusterSeven, 11. Hosting – CPAASP InsynQ,
Awensa, Cloud 9
Biznet Software
7. SaaS – AccountantsWorld, 12. Sand Boxing – Adobe X, as an
example
Xero, SAP ByD, Intacct,
13. IPTV/video/voice over
NetSuite
IP/unified communications
Baker’s Dozen Accounting Software
1. Avalara
2. Concur Expense
Reporting
3. CYMA
4. Freshbooks
5. Intacct
6. Intuit QuickBooks,
particularly on
Awensa
7. Microsoft Dynamics
AX 2012
8. Open Systems
9. Results CRM
10. Sage Peachtree,
BillingBoss, Accpac,
MAS, MIP, ERP X3,
SSAN
11. SAP Business By
Design (ByD)
12. Softrak
13. Wasp Barcode
Baker’s Dozen CPA Firm Software
8. Small Firm Billing/Practice
CCH
Management – ATX, OfficeTools
Thomson Reuters
Professional, TPS
Intuit
9. 1040 Workpaper – CCH Scan,
AccountantsWorld
Copanion, SurePrep
CPA2Biz – Confirmation, 10. Data backup/transfer –
XCM workflow and
Gillware, ShareFile
Xpitax, Bill.com,
11. Hosting - InsynQ, Awensa or
PayChex, others
Cloud9 hosting
6. Programs – Avalara,
Concur, Intacct, Intuit 12. Document Management – DocIt, eFileCabinet, SmartVault
ProAdvisor, Sage SSAN
13. Portal – CCH, Thomson,
7. Xero
ShareFile
1.
2.
3.
4.
5.
Baker’s Dozen Business Analytics
1. Alchemex
2. BizNet Software
3. ClusterSeven –
Spreadsheet
controls, too
4. BizTools
Professional
Analytics
5. Business Objects
6. Cognos
7. F9
8. MicroStrategy
9. Monarch Pro
10. PROPHIX
11. SAS
12. TARGIT
13. WebFocus
• Social Networking Analytics
acquisitions – SAS, Vmware,
YouTube, IBM Brainyard
Risk factors:
1) Employees that
don’t understand
the risks of the
internet.
2) Family members
that use company
computers while
waiting…or just
because the
business has great
internet.
3) Computers in the
company that are
outdated…old OS,
no dual monitors,
slow
4) Software that does
not run on new OS
5) Clients that
purchase PC’s that
will not properly
work with the
overall system
Risk factors (Cont’d):
6) Single point of
failure situations
1) One data line
2) PC configured for a
critical function…no
other PC available or
ready to be used in
case of failure
3) If scanning is
critical…you need two
7) Good policies and
procedures related
to computer use and
internet use
8) Computer disposal
process…so disk
drives don’t pass on
information
Most Common Issues
1. Cabling, Cabling, Cabling
2. Lack of RAM – Servers and workstations
3. Personal grade switches and firewalls – no
Dlink, Belkin, NetGear, etc.
4. Image sizes too large, not using Kofax VRS
5. Internet redundancy
6. Single Point of Failure
Identify Critical IT Components
• Servers – Virtualize
• Backups – Off-site & tested
• Firewalls & Switches – Commercial
Grade/spares
• Workstation – spare
• Scanners/Printers – at least two
• UPS – 30 minutes, maybe a generator
• BC/DR – a plan
Managed Services Options
1. Turn key contract
2. Critical component monitoring
1.
2.
3.
4.
Servers
Firewalls
Backups
Internet
3. Block of hours
4. Printer/copier
Internet Access
• Redundant (Two or more lines)
• DSL/MPLS/Fiber Optic/Cable Modem
• Full fail over
– MIFI or Cellular/CradlePoint as backup?
Understand options available
• Virtualization on servers and with backup
appliances has radically improved
availability and reliability
• Consider retiring old
servers/switches/firewalls into a spare or
an off-site location
• Running in the cloud may work for you –
look at hosted facility costs
NetRescue Appliance
$2200 to start + annual offsite
Virtual Server Cookbook
TRADITIONAL ENVIRONMENT – REQUIRED MANY SERVERS
Off-site every night
Today – 1-3 for most business of less than 100 employees
SERVER1
SERVER2
SERVER3
FILE & PRINT
TS1/CITRIX1
TS2/CITRIX2
BILLING
EXCHANGE
QUICKBOOKS
EHR
ACTIVE DIR
PAYABLES
PAPERLESS
SQL
Backup One or
More Laptops/
Desktops
Backup Appliance
Backup
every
15
minutes
TS1/CITRIX1
EXCHANGE
F/P, AD, SQL
CRITICAL APPS
Backup One
or More
Servers
Off-site Tier 1
Data Center for
backup and
Virtualization
•
•
•
•
Servers
Workstations
Virtualized with VMware
Windows Server 2008 Enterprise Edition
48-72GB of RAM
Brands & Products
• Windows 7 Enterprise Edition using BitLocker for
encryption
• Two or more 22”+ monitors
• Docking station if laptops
• 4-8GB of RAM
• Use Windows Deployment Services for standard
images
• Consider desktop virtualization with VMware View
• Brands & Products
– HP
– IBM
– Dell
– HP
– Lenovo
– Dell
Anti-Virus
• Consider a version in your firewall
• Mixing brands for Server and workstation still
offers better protection, but may cause more
issues
• Best Options:
– Sunbelt Vipre
– Microsoft Forefront
– McAfee
Protect employees by providing
guidance for their own IT protection
•
•
•
•
•
•
Social Network Policy
Password Policy
Document Retention Policy
Acceptable Use Policy
Disk and USB thumb drive encryption
Two factor authentication
• Notably missing
– Symantec
Key Takeaways
•
•
•
•
•
•
•
•
Components needed for successful IT
New Firewalls, Wireless and Cabling
Windows 2008 R2 features and IP6
Backup Appliances
New Scanners
Browsers and other software changes
Tablet and SmartPhone computing
Core questions to ask

•www.cpafirmtech.com

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