Author: Brian Tankersley

Accounting Technology Expert and professional speaker (with K2 Enterprises and Yaeger CPA Review). Writer/columnist for @AccountingWeb and @CPAPracAdvisor. Publisher, CPATechBlog.com. @BFTCPA and @CPATechBlog on Twitter.
Travel

Travel Hacks for Road Warriors

Most of the readers of this blog know that I do over 100,000 air miles a year, all in the US/Canada.  After 1.5 million air miles, these are my favorite travel tips – I hope they make your business travel better (or if you’re a glass half empty type, I hope they make travel suck less).

  1. Always carry $200+ in cash when you are on the road – because bad things happen, and cash can fix it quickly in almost any situation. Also because the bellmen, servers, drivers, and others who wait on you have hard jobs and get treated like crap all of the time – so throw a $20 at someone who deserves it at least once a month ($240/yr)- it’s a great way to pay it forward and make someone’s day suck a little less.
  2. Be very nice to all of the people at your home airport -know their names, bring them brownies, cookies, and other nice things around the holidays. They don’t make much money, and they can make stuff happen for you when travel gets bad. Ask about the counter people’s families and know their kids names – it will pay off in spades.  Buy the people who clean the airport coffee from time to time, because it’s the right thing to do.
  3. If you’re elite with an airline, use those “attaboy” certificates for outstanding service strategically. Give them out to people at your home airport, and do it publically – this makes me very popular at my home airport.
  4. If you have to fly 50-seat regional jets on Delta, they can’t take the electronic drink tickets – so it’s open bar, if you have to fly on one of those for over an hour and don’t have Comfort+.  (JSYK, Woodford is the best bourbon available on Delta – sorry, Jack)
  5. Electronic Expense Reporting
    • If your company uses Concur, Zoho, or other web-based expense reporting software, get the app – it’s essential, and you can take pics of your receipts as you incur the expenses
    • Manila envelopes for receipts – scan them with your Concur app when you incur them, and get them into the expense report system. Keep the paper – you may need it to get reimbursed if you lose/drop your phone or if the pic is blurry.
    • If you don’t already have a web-based expense reporting app, 1Tap receipts from Receipt Bank is a great tool for organizing your receipts.  You can take pics of them, tag/organize them with, and you can then output them as a PDF file.  Bonus: The data is available as a PDF or as a CSV file.
    • Continue reading “Travel Hacks for Road Warriors” →
Privacy, Web/Tech

FAQ on Decrypting Tax Documents with AES Crypt

This week’s episode of the excellent Security Now! podcast (#599, starting at 53:10) discusses the use of AES Crypt by clients to encrypt tax data when sending it to practitioners. (I assume that those documents are destined to a professional preparer, like you, the gentle reader of this blog). While I won’t restate the original blog post (which is at http://cantus.us/encrypt-your-tax-documents-before-you-send-them/), the method described is a relatively simple way for an end user to encrypt and send a group of encrypted files over an insecure medium like Dropbox or other consumer-grade file sharing tools.  While the method described in the post can be implemented poorly (weak passwords, sending the wrong file, using e-mail, etc.), the basic methodology appears sound – but you need to evaluate the methods you approve for clients to use transmitting data.

Continue reading “FAQ on Decrypting Tax Documents with AES Crypt” →

Computer Applications, Current Affairs, Web/Tech

News Roundup- March 13th

Some of the current events I’ve been following include the following stories:

 

Accounting Software, Auditing, Computer Applications, K2 Enterprises, Web/Tech

Who Will Be The Profession’s Digital Plumber?

I’ve been using, supporting, and following accounting software developments since the 1990’s, and there’s a common problem which still needs to be solved:

“How will I get (my)(my client’s) data from (application one) into (specialized application two) so I can perform (task)?”

There have been a wide range of people who have taken on solving this problem, and almost every family of solutions (e.g. Intuit, CCH, Thomson Reuters, Sage, etc.) has solved the problem for their stack of solutions.  One can easily go from most of the major client bookkeeping products into that publishers tax application, and with a little more difficulty, one can pull data from QuickBooks desktop into the tax software.  All bets are off, however, when you step outside of your tax software’s family of solutions.

If you look at e-mail in the 1980’s, we had services like Prodigy and Compuserve, which in their early iterations had closed e-mail systems – like those run by many companies.  In fact, I have had professional jobs in my career where I didn’t have internet-based e-mail – because it was a closed system.  Once these systems opened up, I had internet e-mail from Prodigy (fmpm09d@prodigy.com).

My friend Randy Johnston has often compared the “my tools only” integration strategy as a nationalist strategy – that is, you’re picking winners and losers in a war (e.g. NATO/Warsaw Pact).  Some of this is because of benign neglect, some due to economics, but part of this is an intentional strategy.  That’s OK – providers have no obligation to support competing solutions – but it’s still frustrating.

What we haven’t seen in the US is someone who will be the accounting data version of Switzerland for practitioners– a company which will put in tight integrations to everything.  The closest company to that strategy seems to be Caseware, which exports to most practitioner tax solutions – but their relatively small US market share diminishes their effectiveness in this role.  QuickBooks is probably as close as any app here – but that’s primarily due to its marketshare in the US.  Without good cross-platform integrations and effective/automated import/exports between the different provider cloud offerings, adopters are just trading an on-premises cloud island for a provider-hosted island.  If there’s no easy way to move traffic between islands, you’re just a castaway.

I will point out that Avalara does this successfully with hundreds of accounting/ERP solutions on the sales tax side, so it’s definitely possible, and I think their strategy will pay off in the long run.

I did a session on Digital Plumbing at the Sleeter Accounting Solutions Conference last year, and some companies are out there which do different tasks associated with this for general accounting solutions.  Leaders are ITDuzzit (now part of Intuit, no longer commercially sold), Zapier, and OneSaaS, but there are many nascent competitors in this space, and I haven’t seen anyone reach scale yet in the practitioner market.

Chris Keall of the National Business Review in New Zealand points out today (link requires subscription) in a paid article that Kiwi company Common Ledger has received a relatively small amount of funding ($1MM NZD) to develop solutions in Australia/New Zealand.  What a pity that we don’t have anyone taking on this task in the US.  VC’s seem to be throwing money like crazy at cloud products, but nobody seems to be helping the various data clouds automatically talk to each other.  What a pity.

If any of you readers are aware of anyone who is solving this problem, please let me know.  If accounting is going to become more automated, we have to move past 1980’s solutions like manual import of CSV files and transition into real solutions which are less of a pain to implement.  We’ve seen this change radically with bank feeds in the cloud accounting solutions– when will we see it with other accounting data flowing between various best in breed practitioner solutions?

 

Books, Computer Applications, Web/Tech

Second Annual CPA Firm Operations and Technology Survey Released

As many of you know, I do most of the data analysis and writing associated with the CPA Firm Operations and Technology Survey published by CPA Trendlines.  My co-authors, Dr. Leslie Garrett and Randy Johnston, and I  released the new 2015 edition of the survey today.  The survey was an 86 question survey, was promoted by most major publications serving the profession, and offers over 180 pages of tables, charts, and analysis about over 600 US and Canadian accounting firms.

The press release issued today follows.

ANNOUNCING THE RELEASE OF THE 2nd Annual ACCOUNTING FIRM OPERATIONS AND TECHNOLOGY SURVEY EBOOK

April 09, 2015, Hutchinson KS and Minneapolis, MN – Randy Johnston, CEO and Founder, Network Management Group, Inc., Leslie Garrett, PhD, CEO of Insight Research Group, and Brian Tankersley, editor of the publication announce the release of their 2ndAnnual Accounting Firm Operations and Technology survey eBook. The eBook is published in cooperation with Rick Telberg, President and CEO of CPA Trendlines.

“We are very pleased with this year’s survey participation, we have respondents from all 50 states, and our number of respondents doubled over last year’s results, further validating the data,” said Garrett. The 2nd Annual Accounting Firm Operations and Technology Survey eBook features results from 86 survey questions presented using bar charts and tables showing last year’s results against this year. Every survey question features a table revealing how firms of different sizes responded which allows readers to benchmark their practice against others of similar size.

The value-added content in the Accounting Firm Operations and Technology eBook includes:

  • Inside the Numbers: For each section of the survey (Demographics, Practice Management, Technology Management, Operating Systems, Computer Hardware, Application Software, File & Date Storage/Management, Remote Access/Internet/Telecommunications, and Technology Decision-making, Annoyances and Trends) our research, analysis and editorial team reports on significant findings in the data. The content in these sections are data-driven based on survey results.
  • Consultants Counsel: For each section of the survey our research, analysis and editorial team provides consulting commentary to help readers understand how they might apply the results to their practice, which aids in planning and future decision-making.
  • Trend Watch: For select results, our research, analysis and editorial team identified trends that seem to be developing, which gives the reader the opportunity to adjust their operations and technology planning accordingly.
  • Thought Leadership: Several of the profession’s most respected thought leaders weigh-in and provide insight into select results. Articles have been contributed by Richard Koreto, Managing Editor of AccountingWEB, Daniel Hood, Editor-in-Chief ofAccounting Today, Jim Boomer, CIO and Shareholder, Boomer Consulting Inc., Gail Perry, Editor-in-Chief of CPA Practice Advisor, Rick Telberg of CPA Trendlines, and Bob Scott, Editor-in-Chief of The Progressive Accountant.

***NEW THIS YEAR***

Trend Watch

With two years of data to report on, our team noticed trends developing in certain operational and technology areas. Where trends are apparent, a Trend Watch section appears in conjunction with the bar chart or table, further illuminating to the reader results that are worth paying additional attention to. “After looking carefully at the results, the editorial team thought that identifying trends was important and convenient for the reader,” said Johnston.

Productivity, Profitability, Risk Mitigation Awards

Respondents of the 2nd Annual Accounting Firm Operations and Technology Survey were asked to identify the accounting practice application software that has had the greatest impact on their firm in each of these three areas: 1) Productivity, 2) Profitability, and 3) Risk Mitigation. Congratulations to the 2015 award-winners:

  • Productivity: Intuit QuickBooks
  • Profitability: CCH, a Wolters Kluwer business
  • Risk Mitigation: Thomson Reuters

About the eBook

The Accounting Firm Operations and Technology eBook is 200 pages in length and features 86 survey questions and overall results for each survey question presented in easy-to-understand charts and tables. The eBook also provides survey results by size of firm broken down by solo practitioners, small firms (1 to 10 employees), mid-sized firms (11 to 49 employees) and large firms (over 50 employees).

Media Contact:

Leslie Garrett, PhD, CEO and Founder

Insight Research Group

lesliegarrettphd@gmail.com

To secure your copy of the eBook, visit the CPA Trendlines store, powered by Bay Street Group LLC, at cpaclick.com/nmgi-irg-1

 

Accounting Software, Computer Applications, Current Affairs, Web/Tech

Recent Reading and Writing, March News Update

I’ve been quite busy over the last couple of months, but unfortunately, I don’t have a lot which I can show you, the gentle reader of this blog.  A listing of some of the writings I’ve worked on in the last few weeks is as follows:

I also have been meeting with software publishers and reading voraciously preparing for this year’s tech conferences and seminars, which start for me next week in Philadelphia, and take me around much of the continental US this year.

I hope you’ll plan to attend the 2015 @AICPA Practitioners/TECH+ Conference in Orlando June 7-June 10th. You can save an extra $100 w/code TAC http://pstech.cpa2biz.com/

I share articles which I find interesting on Twitter – I’m @BFTCPA.  Some of the stories I’ve been following include:

I’m sad to see that The Sleeter Group has sold to Diversified Communications, but I know it was an offer which Doug and Sherrill couldn’t refuse.  Congratulations, and we hope to continue to work with you in the future.

Be careful out there, people.  I look forward to seeing many of you on this year’s journey.

 

Current Affairs

I’m Back, Peeps!

I was going through my e-mail this morning, and saw that one of my favorite blogs, Jr. Deputy Accountant (Rated R), was back online after an extended absence.  This made me realize that I had left you, the gentle reader of this blog hanging.  Well, hang no more.  I’m back.

I’ve been very busy over the last few months, and won’t bore you with all of the details.  Some of the stuff I’ve been working on includes:

  • Analyzing the data from the 2nd Annual CPA Firm Operations and Technology Survey, including crunching most of the data and writing most of the copy.  This year’s survey included over 600 firms of all sizes.  I expect it to come out sometime around the middle of March.  (Watch out people, I have data to back up my rants now)
  • Writing a feature article on how the world of electronic payments is changing for the Tennessee CPA Journal.  I expect the article to end up in a number of other state CPA newsletters before the year is over.
  • Attended the 2015 Consumer Electronics Show in Las Vegas with my friend and mentor, Randy Johnston.  (We plot world domination together as a hobby)
  • Wrote three conference sessions for K2 Enterprises – an update on CPA Firm Technology, an overview presentation related to remote access (including some stuff comparing VDI vs RDS), and a third session on electronic payments.

I’ve also worked on too many writing and consulting projects to mention over the last few months.  2015 is picking up nicely, and I’m making the rounds to software vendors slowly this spring.  I’ve already been to Toronto, Atlanta, and have upcoming trips to San Francisco, Dallas, Detroit, Minneapolis, Philadelphia, Seattle, and many other cities before teaching season kicks off in early May.

If you’re looking for my quick takes on tech news, just follow me on Twitter (@BFTCPA).

 

Writing

Writing

I write for a number of accounting industry publications.  Some of my past work includes the following articles:

AccountingWeb

CPA Practice Advisor

State CPA Society Publications 

 

 

 

Web/Tech

K2 Enterprises Announces 2014 K2 Quality Awards

FOR IMMEDIATE RELEASE

October 1, 2014 – K2 Enterprises has released their annual technology awards for 2014.  “It was quite interesting this year as there were no unanimous winners.  There were votes for many solutions.  We did have some repeat winners this year but no unanimous winners” said Val Steed, CEO K2 Enterprises.  K2 has been providing the K2 Quality Awards now for thirteen years. “The products represented by K2 quality awards are among the best of class available today. Our instructors and attendees recognize the merits of the offering and the benefits that users enjoy.” said Randy Johnston, Executive V.P. “Anyone who can sway over our team members really deserves the recognition.  Congratulations to all.” added Brian Tankersley, Director of Strategic Relationships.

K2 Enterprises Annual Quality Awards are determined by a voting poll of the K2 Enterprises instructor team. The polling members of this team are Randy Johnston, Will Fleenor, Val Steed, Brian Tankersley, Tommy Stephens, Bob Spencer, Lawrence (Mac) McClelland, and John Keegan.

2014 Categories and Winners:

•Best Overall Mobile Strategy –  Sage North America

•Best New Mobile App – Intuit

•Reseller Program – ADP

•CPA Program – QuickBooks Pro Advisor – Intuit

•Reseller Channel – Open Systems

•New Product –  AdvanceFlow – Thomson Reuters

•New Module – Point of Sale – Open Systems

•Management Strategy –  Biznet

•Technical Support – eFileCabinet

•Customer Satisfaction – BillQuick

•Ease of Use – Wave Accounting

•Marketing Communications – Avalara

•Overall Quality – Doc.It

•Tax Technology – UltraTax – Thomson Reuters

•Audit Technology – Engagement – Wolters Kluwer

•Business Intelligence Solution – Power BI Suite – Microsoft

•Workflow Solution – XCM Workflow – XCM Solutions

•Small Business Accounting Solution – QuickBooks Online

•Small CPA Firm Solution – Office Tools Professional

•Entry-Level Accounting Upgrade Solution – CYMA

•Top Hosting Provider – Cloud9 Real Time

•Social Media – Jennifer Warawa – Sage North America

•Cloud Power Solution – AccountantsWorld

•Cloud Ease of Use – Sage One – Sage North America

•Cloud Top Shelf Award – Office 365 – Microsoft

•Cloud New Product – Microsoft Online – Microsoft

•Cloud Portal – ShareFile – Citrix

K2 Enterprises is a Hammond, Louisiana based organization that provides continuing professional education services to the accounting profession and marketing consulting services to technology providers in the accounting market. K2 Enterprises delivers approximately 900 educational programs to over 40,000 professional accountants on an annual basis throughout the United States and Canada.

K2 team votes are influenced by end user feedback and experience from consulting and extensive teaching. Detailed biographies on each of the polled members can be found at http://www.k2e.com/team.

Contact: Caron Choate

Telephone: (888) 542-9390

Email:  caron@k2e.com

 

Accounting Software, Computer Applications, Mobile Productivity, Web/Tech

Recent Software Company M&A Activity

As readers of this blog know, the only constant in the accounting technology space is change itself.  With that in mind, I wanted to let you know about some recent acquisition announcements in the accounting space.

SAP to Acquire Concur– Enterprise software giant SAP announced after the market closed last Friday that they have an agreement in principle to acquire the outstanding shares of Bellevue, Washington based Concur Technologies.  Concur provides tools for managing the expense reimbursement process in small companies (with a SaaS offering) and with an on-premises expense management toolkit for enterprises.  (Source: @WSJ)

Sage to Acquire PayChoice  – Small and mid-sized business management company Sage has announced an agreement to purchase PayChoice, a provider of payroll and HR services for small businesses over a software-as-a-service (SaaS) platform.  Sage’s press release described PayChoice as follows:

Founded in 1990, PayChoice is headquartered in New Jersey with 260 employees and 16 offices across the US.  PayChoice provides full-service and self-service payroll and HR services to more than 100,000 SMBs in the US, through a direct sales force and third-party licensee channel.  PayChoice’s revenue for FY13 was US$38.9m.

PayChoice has developed a next generation, cloud-based payroll and reporting platform called ENCORE.  The platform, which was launched in September 2011, encompasses both mobile and web-based payroll applications, operating from a single codebase for both its direct and licensee clients.  ENCORE supports the needs of businesses with self-service solutions through to more complex full-service solutions on the same platform, supporting the needs of SMBs as they grow.

The release also disclosed that consideration for the purchase was approximately $157.8M (converted from GPB at a rate of 1:$1.628)

From the release:

“PayChoice is an excellent business, with a strong management team, attractive cloud platform and a proven business model based on supporting the needs of small and medium-sized businesses and licensees,” said Pascal Houillon, president and CEO, Sage North America.  “We are excited about the growth opportunity that the combination of Sage and PayChoice creates in this market and delighted to welcome the management and staff of PayChoice to Sage.”

Payroll and compliance with constantly changing employer regulations are two consistent challenges for SMBs.  This acquisition will enable Sage to provide intuitive payroll solutions as well as integrated ancillary services such as tax filing and direct deposit as part of the company’s core offerings, making it easier for small and medium-sized businesses to consolidate and review business data, manage relationships, and simplify day-to-day operations.

Infor Completes Acquisition of SalesLogix – Infor announced earlier this month that they have completed their acquisition of the assets of the SalesLogix CRM application from Swiftpage.  Readers may recall that Sage spun off both SalesLogix and Act! to Swiftpage in early 2013. as part of a series of deals which included spinning off Sage Non-Profit Solutions (now called Abila) to a private equity group run by KKR-Accel.

Consideration was not disclosed by either party, but Infor did mention that SalesLogix is used by 70,000 customers at 1,700 organizations who use SalesLogix.  300 of these companies use both SalesLogix as well as one of Infor’s solutions.  Infor plans to incorporate the product into Infor CloudSuite, a set of cloud applications which run on Amazon to meet the needs of specialized industries.