All About Accounting Software

There are myriad accounting solutions out there for businesses of all sizes, but sometimes the simplest business models just need a straightforward payroll solution—enter Halfpricesoft.com.

Founded in 2003, Halfpricesoft provides user-friendly 1099, W2, and payroll packages for accountants at small- and medium-sized organizations, and their ezPaycheck payroll solution offers a hassle-free program for small business accounting. ezPaycheck caters to small business owners—people with an entrepreneurial spirit who are completely capable but can still use an extra hand when it comes to accounting.

In addition, fledgling businesses sometimes can’t afford to staff an accounts payable department, nor can they support the IT costs sometimes necessary to maintain a multifaceted financial management solution. In cases like these, programs like ezPaycheck are a good choice, as they allow users to print payroll checks, create and maintain payrolls for multiple companies, and automatically calculate withheld taxes. And like the majority of software solutions that are most attractive for small businesses, Halfpricesoft’s products can be easily installed without difficult software configurations.

Halfpricesoft.com recently released the latest version of their main small business accounting solution, ezPaycheck 2010. At the beginning of each year taxes loom, and the current season is surely why ezPaycheck is getting press right now—but rather than just parrot press releases, we at CompareAccounting.com are going to take the opportunity to look at simple accounting and finance solutions for small businesses, and later look at when exactly growing businesses should consider a more complex platform. So be sure to check in next month!

Technorati Tags: ezPaycheck 2010, Halfpricesoft.com, Small Business Accounting

If the first months in a year are any indication of the success to be had in 2010, then AccountMate has set the pace for an auspicious year. In January, they scored big in the business software market by integrating with RedTail Solutions (and EDI and GDS provider), and just this week, they scored an account with logo-products manufacturer Kolder, Inc.

RedTail caters to mid-market suppliers and manufacturers, and their integration is taking AccountMate beyond just simple accounting processes. RedTail offers managed service solutions for Electronic Data Interchange (EDI) and Global Data Synchronization (GDS), and they’ve recently enhanced their UI to integrate with the latest version of AccountMate (v 7.6). Both companies target the mid-sized enterprises, and the new integration will allow companies processing large volumes of EDI transactions to cut costs, improve efficiency, and quicken the “order-to-crash” cycle. The new interface was designed by a third party, Figtree Consulting.

Kolder, Inc. implemented AccountMate through one of the company’s Elite Solution partners, and integrated AccountMate’s Manufacturing and CRM modules during deployment. Kolder is responsible for producing licensed and novelty products for some pretty big names—NFL, NBA, NHL, Anheuser-Busch, Coors, and over 130 colleges to name a few—and sought an accounting and finance solution that was integrative with manufacturing processes. Kolder’s solution also needed to meet the scalability they required for national product distribution.

Kolder had recently acquired another company, and each was using a different ERP solution. The AccountMate remedy chosen was AccountMate SQL with Manufacturing Conductor, as well as the AccountMate CRM module. The open architecture AccountMate offers was allegedly a large factor in Kolder’s decision, and the new implementation has allowed them to cut administration staff by 35%.

We don’t like to sound too much like press-release trumpets over here, but when the news is impressive it’s good to take note. A lot of the accounting software news we see is Intuit-related (which is not a bad thing), and it’s interesting to see companies that have grown their accounting products into more complete packages that include ERP and CRM functionalities.

Technorati Tags: AccountMate, Inc., Kolder, RedTail Solutions

Intuit and Microsoft announced today they will be partnering to create web applications that will automate tasks for small businesses. The main progression is for Intuit, which will now be able to reach out to the Microsoft .NET and Azure developer network.

The companies will be integrating the respective capabilities of their cloud platforms—Microsoft Windows Azure and the Intuit Partner Platform—with an aim to allow developers and channel partners to deliver products to enterprise users of Intuit’s QuickBooks. Developers can currently access the beta version of Intuit SDK for Azure, and toward the end of 2010, they’ll have access to Microsoft’s Business Productivity Online Suite (BPOS), which includes SharePoint, Exchange, and Communications Server.

Intuit execs said the partnership will help them build a best of breed suite of applications for small businesses, which will eventually provide them collaboration abilities both internally and with business partners. Some tech pundits, like Dennis Howlett, see Intuit’s larger goal as this: using Platfrom-as-a-Services as a way for delivering lots of aaS functionality, expanding their reach, and developing deep domain expertise to encourage growth.

We’ll likely have to wait till later in the year to see what comes of it.

Technorati Tags: Intuit, Microsoft, Microsoft Windows Azure, PaaS Accounting, Quickbooks

Intuit Inc. completed its acquisition of Mint.com last November, and is now moving to phase out its Quicken Online software in favor of that purchase.

To tell the story of Quicken Online and Mint.com is to examine the financial management preferences of different age groups. Mint.com began as an online personal finance management platform in 2006, and as such, a large number of its users were in their 20s and 30s. Intuit’s products, meanwhile, were desktop applications used by Baby Boomers and some older Gen-Xers. Like most new web-based applications, Mint was sleek and simple, and appealed to fiscally-responsible young people who didn’t care for the (seemingly) excessive data entry associated with Intuit’s products.

At the time of Mint’s inception, Intuit had easily cornered the personal finance market with Quicken, and two years after Mint.com began, Intuit released Quicken Online to compete. Needless to say, Quicken Online never took off, and Intuit acquired Mint.com last fall. Upon purchasing Mint, Intuit officials said Quicken Online would be phased out—this leads us the present.

Mint.com is going to retain its brand, and Quicken Online software will be combined with Mint’s technology. Quicken Online users will be transitioned to Mint.com, and users will be able to manage personal finances between the internet and their home computers. There have been some questions as to whether or not Quicken users will adapt to Mint.com. It’s always difficult switching from a system with which you’re comfortable, so the change will likely be difficult for some older users. Still, Mint has a sharp offering—and is going to start offering mortgage management soon—and its interface differences don’t preclude its being liked by former Quicken Online devotees.

Technorati Tags: Intuit, Mint.com, Online Accounting, Quicken Online

December was a big month for Sage MIP Fund Accounting—first, they announced their enhanced 10.2 version, and they also received a Campbell Award for being one of the most customer-recommended products on the market.

Sage MIP Fund Accounting is software for nonprofit and governmental financial management, and in keeping with their dedication to user experience, the 10.2 edition features a new customer feedback portal that allows users to submit ideas and feedback directly to the product’s executives. Other enhancements include expanded reporting options, email functionality, and import capabilities.

Sage product execs expect the new portal will invaluable when they’re in development phases. Customers can send requests or suggestions through the portal, and receive an auto-response. If Sage makes the requested update, those users will be notified. Before receiving notifications, users can log in to see their submission status. Sage MIP Fund Accounting is available as both an on-premise and hosted platform, so we’re curious as to whether customers using legacy systems have the same options.

New reporting features include Form 990 reporting, New Sate Unemployment Tax Act reporting fields, and improved drill-down functionality from within financial statements (allowing users to search records with greater accuracy). Regarding email in MIP Fund Accounting, it will now be easier to send messages from within the platform.

The new award Sage MIP Fund Accounting received—the Campbell Award—is a biannual prize bestowed upon the accounting software with the most recommends from US customers. This is the fourth consecutive year Sage has received the award, which is given by the independent market research firm Campbell Rinker.

Technorati Tags: Campbell Award, custoemr feedback, Government Accounting, NonProfit Accounting, Sage MIP Fund Accounting

Yesterday, NetSuite announced that their customers doing business in the UK are going to enjoy full compliance with new changes to the value-added tax (VAT) rate, and without having to trouble with pesky upgrades. Thanks to NetSuite’s cloud computing model, and the flexibility of the Tax Engine in their financial and accounting software, NetSuite customers in the UK will have immediate compliance changes.

The change itself is due to UK Chancellor of the Exchequer Alistair Darling’s announcement of a return to the 17.5% VAT rate, which he detailed in his pre-budget report last week. That decision wasa part of the government’s stimulus package, and will be effective January 1, 2010. Companies operating accounting and e-commerce software are therefore racing to be compliant, and those with on-premise solutions are obviously having the roughest time.

NetSuite’s SuiteBundle is the product that automatically updates customer tax codes, and it can be applied at any time before the January deadline, and will be updated automatically. NetSuite is already a major player in many business software segments, and with cases like this one it’s patently obvious why. Their cloud-computing model is thrifty and timely, and this a prime example of the abilities offered by cloud computing—hopefully one that will get even more people hooked on this kind of deployment.

Technorati Tags: NetSuite, NetSuite Accounting, NetSuite SuiteBundle, NetSuite UK, VAT rates

In every industry there are a couple of trendsetters—those companies who do something and everyone takes note. Though most people only grumble about the Internal Revenue Service, it can be assumed that when they select a particular accounting platform, people take note.

Today, the IRS announced they selected TaxWise from CCH Small Firm Services (SFS) as the software their employees and volunteers will use to prepare and electronically file tax returns for millions of low-income, elderly, and limited-English proficient taxpayers. And TaxWise obviously takes pride in this being the 15th consecutive year their technology has been put to this task.

But even though it’s been doing the job for almost two decades, the IRS still vetted accounting software for two years. TaxWise’s most recent agreement is a 5-year contract, and covers about 10,000 IRS-supported Volunteer Income Tax Assistance (VITA) and Tax Counselors for the Elderly (TCE) locations, and IRS-operated Taxpayer Assistance Centers (TACs).

Part of the reason the IRS is so happy with TaxWise is its strong security provisions—and they said this of both the on-premise and online versions. Yup, that’s right—the IRS is not shying away from accounting data in the cloud, and approves of TaxWise Online.

Technorati Tags: Internal Revenue Service, SaaS Accounting, TaxWise, TaxWise Online

Salesfore.com announced its collaboration with Unit 4 Agresso—FinancialForce.com—not too long ago, and at this week’s Dreamforce there was a panel to discuss the SaaS product. There has been talk for a while now that back-office applications are only crippling themselves by not moving into the cloud space (ERP vendors, especially, are receiving heat for balking at the idea of SaaS solutions), and FinancialForce.com has the potential to nudge accounting into the future.

Built on Salesforce’s Force.com platform, FinancialForce.com puts accounting data in the cloud, and panel members spoke to their happiness with the product. Included below is a video filmed by Dennis Howlett, in which Quattro Innovation’s Director of Operations, David Tan, explains why FinancialForce has been a good fit. Howlett also notes that these companies perhaps cannot fully attest to SaaS accounting because they haven’t had a full year with the product. Fair enough.

Many handling back offices are wary of putting certain data in the cloud, and this fear has left companies like SAP, Oracle, Sage, and others at the forefront of the financial software market. But the cloud more users flocking to the cloud, security concerns are decreasing, and a surge in SaaS accounting is a very real possibility. And it is all the more possible with newer companies demanding faster implementation times—one of the things Tan details at length in the video.

The reign of on-premise accounting software isn’t at its end, but FinancialForce.com, and the other similar platforms that will undoubtedly arise, will lead to its decline.

Technorati Tags: Dreamforce, FinancialForce.com, Salesforce.com, Unit 4 Agresso

This month, Sage Software announced a partnership agreement with ITE Distribution, which is one of Dubai’s top IT distribution conglomerates. Specifically, ITE will be broadening exposure in the Middle East for Sage’s Peachtree accounting software, and their ACT! contact and CRM solutions.

According to the contract, ITE will oversee all distribution activities for Peachtree by Sage and ACT!, from product launch, to in-store merchandising, to development with resellers. Particularly, they look forward to promoting Peachtree by Sage, with its capabilities to project cash flow, perform multi-year reports, give real-time alerts, and track expenses.

Regarding the motives behind the partnership, Sage cites they high regional demand for business and contact management applications. But the partnership will also bolster ITE’s position in the software market, as they were previously known as dealing mainly in hardware. Still, ITE put another feather in its cap earlier this year: they signed a contract to distribute Microsoft off-the-shelf software a couple months back.

Technorati Tags: ITE Distribution, Peachtree by Sage, Sage Accounting, Sage Software

Sage wants its customers to be prepared for government financial regulations, and last month they launched a new certification program for the non-profit organizations using their Sage MIP Fund Accounting. The program helps non-profit professionals enhance their skills through continuing professional education (CPE) workshops, each lasting two to three days.

Seminar sessions are web-based, and tout certification in less time and at less cost than alternative programs. There has been a growth in non-profits in North America over the last decade, and the need for certified financial professionals is especially pressing in this economic climate. There are a number of certifications offered. From the high-demand disciplines, there are courses in Accounts Payable, Controller, Financial Reporting, and Senior Accountant. Other options include Budget Analyst, Financial Manager, Procurement, and Payroll, to name a few.

Sage reportedly serves 2.9 million SMBs and non-profits in the US and Canada, so these certification options are a good source of revenue. At the same time, it is a nice gesture to give financial experts a means of increasing their professional value.

Technorati Tags: Continuing Professional Education, NonProfit Accounting, Sage MIP Fund Accounting, Sage Software