The Tech Gap

An Opportunity to REALLY Help

My hat is off to the AICPA on this one. The victims of hurricane Katrina include many of our own profession. Their offices are gone, records and all, and their clients need them. Perhaps more now than ever. We've all written checks and as a nation we've donated over $1 billion to date. That's impressive. However, there's still more to do. I've seen vendors come forward with very generous offerings of how they'll be helping their effected customers -- Thomson and CCH have been notable leaders in this effort. And the AICPA has jumped in to coordinate CPA's helping CPA's.

I received this email earlier today:

We at the AICPA are deeply saddened by the devastation Hurricane Katrina has caused in the Gulf Coastregion.  One way that we felt we could help individual CPAs and firms in the affected areas was to develop the AICPA PCPS Firm Volunteer Center.

PCPS, with the assistance of the AICPA's Audit Quality Centers and sections, launched this center to allow firms impacted by Hurricane Katrina to access contact information of firms around the country that wish to volunteer their resources to assist those in need.  Volunteers are offering office space, housing, office supplies, technology support, hosting and/or software, temporary hiring of staff, disaster recovery, assistance in reaching clients of affected firm and help with filings.  If you know of any firm that needs assistance in any of these areas, please direct them to visit http://pcps.aicpa.org/Community/Hurricane+Katrina.htm to view a list of CPA firms offering help.

Writing a check was the easy part --- this is harder. Can YOU help?

gll

On the Other Hand ....

I love watching accountants as they experience "ah ha" moments relative to technology -- and I vividly remember mine as I saw my first spreadsheet (Visacalc on an amber-screened Osborne). A few weeks ago at the Illinois CPA Society Technology Show in Chicago I led "walking tours" and watched dozens of our fellow practitioners experience that same sort of "revolutionary" understanding as they watched a short demonstration of CCH's Award winning "CCH@Hand". In talking to my "tourists" I discovered that, while they had heard of the product (actually a service add-in) they really had no idea what it is. Or what it could mean to their productivity. So I thought perhaps I'd reiterate a bit. If you're a CCH research subscriber then listen up as you'll most definitely want to start using CCH@Hand. If you're not --- well, this just MAY be a differentiator worthy of your consideration.

CCH@Hand provides users one-click access to CCH's Tax Research NetWork directly from Microsoft® Office 2003 programs. That means users can conduct all of their research within an Office application, i.e. Word, Excel or Outlook, and never leave the Office application. CCH@Hand also integrates with the Windows desktop and Microsoft Internet Explorer browser. CCH accomplished this deep level of integration via Microsoft's Smart Tag technology. In my opinion it's simply beautiful in it's simplicity. The Smart Tags recognize citations within the text of an MS Word document and allows a user to then view the full text of the cited document. Additionally the user can retrieve that text into a Word document. Users can also retrieve related explanations, regulations, or committee reports from citations to a Code or regulation section and then create hot links to the underlying source in their documents.

And therein, perhaps, lies the problem. Because it's SO simple CCH staffers sometimes don't "explain" it's power. And, again because of it's sheer simplicity, practitioners don't realize it's incredible power. Finally, because CCH doesn't charge for CCH@Hand (if you use their research you just "get it"), both the sales side (that's them) and the consumer side (that's us) tend to gloss over it. The end result is that I see many, many practitioners not understanding the horsepower they've been given.

So, here's my challenge to you. School's in and you don't have another tax deadline for over a month --- so do yourself a favor and invest a few minutes to make sure you understand what CCH has built here. I guarantee you'll be impressed. A demonstration is at athand.cch.com.

gll

PS -- CCH@Hand was a winner of The CPA Technology Advisor's 2005 Tax and Accounting Technology Innovation Awards in June, 2005.

Maybe Someday, Just Not Quite Yet

Recently I spent some [considerable] time looking at a web service aimed at practicing accountants and designed to produce a personalized tax plan for their clients.

It's called TaxCoach and it's available by subscription from, go figure, TaxCoach Software, Inc. in both single and 5 user flavors for $50 and $100 per month, respectively.

It's designed to produce a personalized report and it does so quite effectively. The "personalization" is limited to the selection of "strategy modules" and the web interface questionnaire guides the preparer, in Q&A format, through each particular client's setup. The program ultimately suggests inclusion of an array of "strategy modules" based on the answers provided. Each strategy module is written in plain English and fits on a single page, with clear examples, charts, tables, and graphics. The modules are sourced and footnoted to the IRC and regs.

The good news is the reports are stunning in their presentation quality. The layout and format is made for quick and easy reference and even the most financially illiterate client will find value. Any firm would be proud to present the report which includes, if set up, the firm logo, practitioner photo and bio, a clear and concise table of contents, and up to 111 different "strategy modules".

The bad news is that's where it stops. A mid-level sophisticated client would soon recognize that the information provided, while personalized as CONTENT, is simply generic and not specifically "personalized" [i.e. includes relevant numbers] for him or her.

Bottom line recommendation: Give TaxCoach a spin. Depending on your client base and level of sophistication you may find the report very well received. Alternatively, you may decide to include the report WITH a traditional numbers-based tax plan and develop a really happy client who knows both WHAT TO DO and HOW TO DO IT relative to his tax future.

gll

Hindsite is better than foresight by a damn sight

I've always wanted to use that as a title, but could never quite figure out how --- until I met Dave Crary and he showed me his technology solution that's sold by, you guessed it, HINDSITE SOFTWARE!

I was attracted to David's booth at the New Jersey trade show because he touts Pocket PCs and, as many of you know, I'm a current Palm user with a big desire to leave the "dark side" and head back to Microsoft land.

Hidsite Software is a Pocket PC based solution designed specifically for the trades and service industries. If you have clients who put workers in the field providing services, with or without parts, you'll really want to know about the solution.

The system requires each technician carry a PDA which, according to Hindsite, makes them "feel and act in a more professional manner." The PDA downloads work orders either via computer sync or via cellular or EDVO signal in the case of telephone based devices. Both methods can save the technicians from driving to the shop every morning. Instead they simply check their device for their next assignment. Upon completion of a job the technician simply punches in the information and it's ready for transmission to the office. In theory a tech using a phone based device could complete a job, beam up the information, and the invoice could be in the mail before he got to next work site!

The Hindsite system integrates with QuickBooks and Master Builder and is available both as an outright purchase and in a subscription mode. Hindsite claims over 100 companies are currently utilizing it's solution. It's priced at $100 per month for a single PDA (the office side module is free). PDA's 2 through 10 are $50 per month, and 11 and over are $40.

Initially the pricing may appear strong, but considering its potential financial impact (you don't have to capture very many plumber's minutes to save $100!) and the fact that it includes support and upgrades, many clients may jump at the chance --- but only if you tell them about it!!

gll

Our New Orleans Colleagues Need Us -- Now!!!

We've all been stunned by the catastophe in New Orleans. As you would expect, the American people have been extremely generous and fund-raisers of every imaginable flavor are currently underway. This is certainly a time for us as practicing accountants to demonstrate LEADERSHIP.

My suggestion is that every firm MATCH any Red Cross donation made by their staff.  And be very visable and vocal about it --- your clients will admire you, imitate you, or both. Your staff will respond and you'll be proud. We'll all win!

Finally --- keep this link for futue reference. The AICPA has put together an excellent resource here. It includes information and tools related to disaster recovery and will be updated as additional information becomes available.

gll

PS -- Yes, I do "eat my own dogfood". Yesterday my Publisher, Shari Dodgen, and I posted a notice to our staff that we would personally match their contributions to the Red Cross. I hope it hurts --- a lot.