SOLUTIONS - Tax and Accounting Software for CPAs and Tax

V o l u m e S i xN u m b e r T h r e e S u c c e s s S t r a t e g i e s f o r U s e r s o f T h o m s o n R e u t e r s S o f t w a r e

SOLUTIONS

Scott Whisenant, CPA/PFS Tuscaloosa, Alabama

PAge 6:

welcometo the weblet your clients access financial information anytime, anywhere.

PAge 5:

cs users’ conference

PAge 4:

recession-Proof Your client roster

PAge 10:

SET YOUR Course

To LeT WeB TeChnoLoGY DrIVe Your GroWTh

2 SOLUTIONS | vol. 6, no. 3

S u c c e s s S t r a t e g i e s f o r U s e r s o f T h o m s o n R e u t e r s S o f t w a r e

SOLUTIONS

VIeW PoInT

CoVer: Scott Whisenant, CPA/PFS, counts on technology to drive his Tuscaloosa, Alabama, firm’s growth, but when it comes to boating, he’s strictly hands-on. When not helping his clients succeed with web-based accounting solutions, he enjoys unwinding with his boat and a host of other recreational activities.

Solutions is published by the Tax & Accounting business of Thomson Reuters, 7322 Newman Boulevard, Dexter, MI 48130; (800) 968.8900. Printed in the United States. Copyright 2008 Thomson Reuters. Vol. 6, No. 3.

Jonathan A. BaronPresident, Professional Software & Services,

Tax & Accounting business of Thomson Reuters

‘FuTuRize’ YOUR FIRMAfter being bombarded by a tumultuous economic environment, businesses across the country are collectively taking stock of their situations. From services offered and staffing needs to infrastructure and processes to sustain and grow your firm, many of us are finding ourselves at a crossroads. What can we do today to propel our firms forward and ensure our goals are achieved? “Futurize” our firms.

To futurize your firm is to ensure that you are prepared to quickly adapt to oncoming changes—both demographic and technological—to operate as cost effectively as possible by taking full advantage of the most promising and most practical technologies, to serve new clients and empower a new workforce.

Take some time to think about the state of your firm, and about the changes that are taking place both globally and within the accounting profession, and determine which are the most significant trends that will impact your business. Which technologies will position your firm most advantageously? How can you adopt them, train staff and clients and implement those technologies? What types of people will you need to produce the work, and how can you continue to network within the profession and make the contacts needed in order to grow?

Future advances in technology could potentially change the way your company functions, determine how it looks at staffing, other tangible resources, and determine if you need to reorganize. You may have never considered the flexibility that could be required in order to find, train and retain quality staff. But as our economic climate evolves and we all deal with changing demographics, the pre-planning you invest in now will allow you to be ready with the right staff, properly trained and outfitted for new, innovative processes that will allow you to futurize your firm.

When our company looks to the future, we always temper our view with the real world consequences of our actions, and the ramifications of proper execution. The enhancements that we build into our products and services have always been heavily evaluated and researched as to their overall benefit and usability to our users.

We also have some exciting plans in the pipeline, and are confident that they will result in tools wholly designed to enhance the success of your firm:

• Released in November, Service Bureau Payroll CS will appeal to payroll processors by significantly increasing the efficiencies in producing a large number of payrolls.

• Scheduled for a spring release, the new Staff Management module of Practice CS will focus on staff benefit tracking, staff scheduling, and other helpful staffing tools.

We also have an aggressive new product pipeline to help you become more profitable.

There will undoubtedly be a number of momentous changes that take place over the next several years that will both challenge and benefit us all. Take the time now to futurize your firm and prepare your staff to easily adopt coming changes and new technologies, and you’ll be best positioned to weather any storm successfully.

In ThIs IssuePAGe 2View Point “Futurize” your firm by being prepared to take advantage of new technologies to serve a new clientele and a new workforce.

PAGe 3news LineIntroducing Service Bureau Payroll CS and other news you need to know.

PAGe 4Idea FileHow to recession-proof your client roster, and other ideas from the CS Users’ Conference.

PAGe 6software in ActionWeb-based accounting solutions using NetClient CS provide a recipe for success for Kenneth D. Prather, Inc.

PAGe 10cover storYAccountant Scott Whisenant is on course to let web technology drive his firm’s growth, and payroll processing provides a dramatic example.

PAGe 13Tips & TacticsFind useful answers to some of the most-asked questions that are on Thomson Reuters users’ minds.

CS.ThomsonReuters.com | SOLUTIONS 3

neWs LIne

introducing service bureAu PAYroll cs — The IDeAL soLuTIon For hIGh-VoLume PAYroLL ProCessInG

Thomson Reuters is pleased to introduce our new Service Bureau Payroll CS offering that enables payroll professionals to efficiently process a high volume of payrolls, easily maintain tax compliance, and meet the needs of a broad spectrum of clients. Designed for firms that process a minimum of 100 payrolls, Service Bureau Payroll CS provides powerful features that enable processors to provide speedier turnaround, 24/7 convenience, and premium service.

The program includes timesaving features such as multiple check entry options; a highly efficient batch entry mode; multiple payroll schedules per client; automatic address and tax jurisdiction validation; and the ability to print checks, reports, and tax forms for multiple clients at one time. Also available are comprehensive direct deposit, impounding, EFTPS, and electronic filing features.

To further enhance this full service payroll option, fast and easy imports from supported time clock programs and NetClient CS Remote Payroll Entry are available.

Service Bureau Payroll CS users who have other CS Professional Suite products can take advantage of seamless integration as well. Service Bureau Payroll CS can be used on a stand-alone basis or in conjunction with our other applications like FileCabinet CS and Write-Up CS.

To learn more about this powerful new program, contact your CS Account Representative at (800) 968.8900.

AnnounCInG Powerful GoFILeroom Cs™ enhAnCemenTs

Several new enhancements have been added with the December 2008 release of GoFileRoom CS, enabling firms to achieve a more efficient workflow.

• Advanced linking between excel and gofileroom cs gives firms the ability to retain embedded objects and formulas in Excel and allow them to keep complex Excel documents in GoFileRoom CS. Additionally, GoFileRoom CS linking gives users the ability to access GoFileRoom CS documents from any other document or Microsoft® Office® application.

• The send to gofileroom cs feature uses new multi-document technology to give firms the ability to easily add groups of documents with very little manual indexing.

• social security number redaction enables firms to comply with recent legislation and create a redacted version of files—where sensitive data is not visible when files are outsourced.

• new general editing features allow users to edit and save changes to any file—not just PDF, Word, and Excel files.

Continued enhancements are another example of our commitment to develop advanced technology that meets the specific needs of our users. Visit cs.thomsonreuters.com/support and choose Planned enhancements from the left navigation for a complete list.

neW PArTnershIP oFFers more oPtions For PAY-As-You-go Workers’ ComPensATIon

Payroll CS users and myPay Solutions® clients now have access to more than 20 leading workers’ compensation carriers through nationwide insurance wholesaler Cennairus, LLC.

Thanks to integration with InsureLinx, Inc. from Cennairus, payroll providers, agents, carriers, and policy holders are connected through all aspects of procuring and processing insurance. Payroll data is securely and automatically transmitted in a proprietary format to InsureLinx, which calculates the premiums and remits payment directly to the appropriate insurance carrier.

This “pay-as-you-go” approach helps accountants retain clients by being able to offer beneficial services that improve client cash flow and minimize audit discrepancies. This agreement offers a convenient way to calculate, process, and pay payroll-based workers’ compensation insurance premiums.

More information is available at the InsureLinx website: insurelinx.com. CONTINUED ON PAGE 12

4 SOLUTIONS | vol. 6, no. 3

sTAY enerGIzeD: First and foremost, do not buy into the “sky is falling” nonsense. Marketing will work in good times and bad. Be like the Energizer® Bunny, and keep going and going and going.

mIne The DIAmonDs In Your oWn BACk YArD: It’s important to have a structured program in place to develop referrals. Your best source for generating referrals is your existing client base. Offer discounts on your tax preparation fees (15% is reasonable), or perhaps a free month of service for any business referral. Use electronic newsletters to get the word out on your referral program, and to help brand your firm every month. BizActions.com and CPASiteSolutions.com are two excellent sources for newsletters. By simply keeping your name in front of your clients, your chances of receiving referrals from existing clients increases significantly.

reACh ouT To neW smALL BusInesses: Large companies are cutting back, and that means small business is expanding. Many laid-off workers are turning their dreams into reality by starting their own businesses. Get a list of start-up firms in your market and begin contacting them.

DIreCT ConTACT Is BesT: Direct mail can work, but appointment setting is much better. Delegate someone in your firm to contact identified start-ups and arrange an appointment to discuss their accounting and tax needs.

senD In An exPerIenCeD sALesPerson: Now that you have an appointment scheduled, someone has to make the sale. The person you send in must be experienced in closing sales with prospective clients. If that’s not you, hire someone who can do it.

Bruce Clark is the CEO and founder of New Clients, Inc. Since 1986, New Clients, Inc. has worked with over 3,500 account-ing firms nationwide to develop large, success-ful, growing practices. Additionally, Mr. Clark has personally been involved in the sale of over 200 accounting firms and has given over 200 seminars on how to market account-ing services.

RECESSION-PROOF YOUR CLIENT ROSTER“Oil is up 60 percent . . . personal savings under 1 percent . . . equity markets stumbling . . . and fear of recession rampant.” Sounds very much like today’s headlines, doesn’t it? What if I told you this scenario actually appeared in the pages of Business Week nearly 30 years ago?

In the past four decades, I’ve witnessed firsthand a number of economic situations similar to the one our country is struggling through now; in fact, I was involved in building both my father’s firm and my own firm during economic low periods. What I learned from those experiences—as well as the thousands of accountants my company, New Clients, Inc. has helped to build and better manage their firms—has given me a unique insight into the ways accountants can directly market their services to the small- and medium-sized business market during challenging economic times.

Of course, we’ve witnessed exponential growth with many of our clients during strong economic times. But what may surprise you is that we’ve seen the same growth even in weaker periods. A good example is one of our most successful clients, Troy Patton, who was spotlighted in the last issue of Solutions. Troy, a CPA from Indianapolis, used our Client Acquisition Program (Plan 2) in 1997. At the time, he was only billing $28,000 per year. Only six years later, he was grossing over $6 million in annual billings.

If you’d like to achieve the same level of success Troy’s firm has accomplished, here are some tips to help you get started.

Remember, when it comes to practice development, marketing is not something you do on occasion—it should be an ongoing part of your practice. NCI has helped thousands of successful firms throughout the nation that reap the rewards of a successful marketing campaign. For information on our guaranteed marketing programs, visit our website at www.NewClientsInc.com or call us at (888) NEW CLIENTS (639.2543).

CS.ThomsonReuters.com | SOLUTIONS 5

IDeA FILe

The Gaylord Texan Resort and Conference Center in Grapevine, Texas, provided a spectacular backdrop for the nearly 700 participants who met to enjoy informative workshops, product demos, keynote speeches, and time with Thomson Reuters’ expert staff.

The conference began on a high note with the traditional Welcome Reception at the Gaylord Texan. Attendees and staff relaxed and mingled in preparation for three days of learning and networking.

Kicking off on Thursday with Jonathan Baron’s insights into the latest technologies for our industry, the 2008 keynote presentations were lively and informative. At Friday’s luncheon, Sandra Wiley, COO of Boomer Consulting, Inc. helped participants uncover their unique talents and strengths, while on Saturday, motivational speaker and management consultant T. Scott Gross wrapped up the conference by showing attendees the value of positively outrageous customer service.

Conference-goers also shared three days of information, camaraderie, and fun, including the

special Friday night event at the Circle R— an authentic Texas ranch from its cowboys to its mouth-watering western-style barbecue.

All in all, the 2008 conference was a bonanza for everyone who attended. Participants left the CS Users’ Conference with practical and productive ideas they can put to use immediately in their own firms, and Thomson Reuters staff enjoyed the chance to reconnect with longtime users and to get to know new users. The 2009 CS Users’ Conference, which will be held November 4-7 at the Gaylord Palms Resort & Convention Center in Orlando, Florida, promises to be every bit as dynamic.

We take a very hands-on approach with our clients. We don’t have a lot of staff layers; the partners are very much in tune with the clients and their needs.

Clients like to know they’re important. They want to know that we know what’s going on in their businesses. They want us to tell them what to do so they have someone guiding them.

We accomplish this by visiting our clients regularly. We’re available on the telephone and plan ahead for them when something comes up on the news, Internet or with tax law changes. We send out e-mails and letters and call the clients whom these issues pertain to. We schedule tax planning meetings throughout the year, especially around estimate dates.

Besides using all the programs in the CS Professional Suite, we just started offering payroll services to our clients. We give them the total package, so if they have a problem they just call us. They don’t have to call a payroll services provider or worry about taking care of their employees.

Denise Saturna Saturna & Company, PC, CPAs Macon, Georgia

“ “WHAT ARE THE PRIMARY TENETS THAT ACCOUNT FOR YOUR FIRM’S SUCCESS?

IDEAS AS BIG AS TExAS AT THE CS USERS’ CONFERENCE

6 solutions | vol. 6, no. 3

Can the same web-based accounting software program be the solution for two very diverse businesses?

that’s the case in tulsa, oklahoma. While a small jewelry store uses it to save time on bookkeeping tasks and to plan for the future, just a few miles away a large apothecary uses the program to manage three stores and 34 employees.

Both owners were skeptical at first. today, however, neither would go back to their former way of managing the accounting side of their business.

Both are clients of Ken Prather and Chris Fleming of Kenneth D. Prather, inc., Pryor, oklahoma.

Both are netClient Cs users.

WElCoME to tHE WEB>>

Ken Prather, left, and Chris Fleming, center, introduced their client, pharmacist Deril lees, to the netClient Cs tech-nology that allows him to pull up his financial state-ments anywhere—from the plasma screen on his wall to the iPhone in his hand.

Cs.thomsonReuters.com | solutions 7

SOFTWARE IN ACTION

CuTTINg EdgE ApOThECARy

Deril lees knew from the time he was a junior in high school that he wanted to be a pharmacist. He operated a traditional store for 20 years, and then shifted to a compounding pharmacy in 1987.

A compounding pharmacy makes custom medications and does not handle manufactured products. using raw ingredients, pharmacists make capsules, creams, ointments, liquids, injectables and eye drops in various dosages. lees opened his first compounding pharmacy, an 1,800-square-foot facility, in 1995.

“this is more than selling product,” lees says. “We have to educate physicians and other customers about what we do. We have short videos on our website explaining our processes and procedures.”

lees’ newest facility is 8,500 square feet. the lab uses state-of-the-art equipment. nine pharmacists are included in the firm’s 34 employees.

A client of Kenneth D. Prather, inc. for 20 years, lees has been using netClient Cs since January 2008.

“Everything was going well, and our bookkeeper, Pam Beck, was happy with what she was doing,” he says, “but as we looked to future growth, handling more product and adding to our payroll, we needed a system to make us more efficient. this technology saves us a lot of time by letting us manage three companies from one office. now Pam can handle more information in less time. We can continue to grow without hiring another person. What we were doing before worked, but the information exchange wasn’t as fast or efficient.”

According to lees, the ease of processing payroll for three different companies also makes the move to netClient Cs worthwhile.

“We use Web Employee™, so we don’t even have to write checks,” he says. “our employees can log on

to our website to look at their payroll stubs and W-2 information.”

lees gives another example of the value of this technology.

“i was at my bank restructuring a loan for some of our properties,” he says, “and my banker needed copies of my tax returns. We logged on to my website from his computer and printed them out on the spot. He was impressed. that’s what i was looking for. i wanted to be able to access information immediately from wherever i’m at.”

there’s always a learning curve with new technology, but with Prather’s and Fleming’s help the transition has been smooth.

“our communication with Ken and Chris is instant,” lees says. “if Pam has a problem she can call Chris and they can both be looking at the same screen to solve the issue right away.”

technology transforms the way these businesses work and communicate with their accountant.

“My banker needed copies of my tax returns. We logged on to my website from his computer and printed them out on the spot. He was impressed.”— Deril lees


Jeweler lonnie iannazzo was accustomed to working manually with his former accountant, but loves his new system: “i can access month-end reports and get year-to-date numbers anytime, anywhere.”

When Chris Fleming told lonnie iannazzo, right, about the advantages of a web-based system, lonnie was hesitant, but the benefits soon made him a believer. He now enjoys better, more timely information, accessible anytime, anywhere.

SAy IT WITh dIAmONdSlonnie iannazzo has been in the jewelry business for 26 years. He opened Vincent Anthony Jewelers eight years ago and has four employees. the store specializes in high-end fine jewelry.

“the jewelry business is very competitive,” iannazzo says. “i would have never guessed that someone would go on the internet and spend $20,000 or $30,000 on a diamond without seeing it. What makes us stand out is that we’re relationship-based. our customers trust us and like us and know we’ll take care of them at any cost to us if there is a problem.”

iannazzo has been working with Prather and Fleming since December 2007.

“i was using an older accountant who developed health problems and had no succession plan,” he says. “i had heard about them and was looking for someone to pick up my account. At first i was hesitant about a web-based program; everything i had done before was manual. i didn’t want to have

to do anything on the computer myself because i thought it would take more time.”

Fleming spent time training and showing iannazzo how netClient Cs would actually save him time.

“Printing checks is quicker, and so is payroll,” he says. “it’s much easier to keep track of long-term vacations and holidays.”

iannazzo was paying $110 per month with his former accountant, and while his monthly fee is now $375, he feels that he’s getting better information on his financial situation and is doing more tax planning.

“Absolutely there is value to making the switch,” he says. “i wouldn’t have stayed with this system if i didn’t think there was value. in our business, 25 percent of sales come in December. in past years i’ve always been a little short because i hadn’t paid in enough taxes. now i discuss with Chris what i should be doing from now until the end of the year. And, i love the web-based aspect. i save time writing

SOFTWARE IN ACTION

“it was a natural for many of our clients. they shop on the internet and use cell phones. Clients want information at their fingertips, and the software gives it to them.” — Chris Fleming

checks to vendors and on payroll. i can access month-end reports and get year-to-date numbers anytime, anywhere.”

iannazzo could double his business and add four to five more employees without increasing his fee because the system can easily handle more volume.

“i’m considering opening a second location in a growing area,” he says. “Managing two stores with a web- based system would be much easier.”

ThE pRACTICEChris Fleming, who previously worked with a local CPA firm, purchased the practice three years ago. He chose thomson Reuters products, with their web-based programs, as his new software. A year later he merged the business into his father-in-law Ken Prather’s practice. Ken has been a loyal thomson Reuters customer for more than 15 years.

“We had a lot of success with clients the first year because of the convenience of the netClient Cs technology,” Fleming says. “it was a natural for many of our clients. they shop on the internet and use cell phones. Clients want information at their fingertips, and that is what this software gives them. they can pull up financial statements anytime, anywhere, and don’t have to schedule vacations around payroll processing.”

the practice targets medium to small businesses and has 61 netClient Cs portals, 34 CBs AsP (Application service Provider) clients, 47 Remote Payroll Data Entry modules, 29 Remote Check Printing modules, 9 Web Employee clients and 7 netstaff Cs™ portals to access the practice’s software through Virtual office Cs.

“the web-based programs are easy to sell because the software is great and the fees are reasonable,” Prather says. “For example, we picked up 17 llCs from a client in st. louis just by demonstrating the system.”

“the key is that we fully support the program,” Fleming says. “if lonnie has a question he calls us and we troubleshoot in real time. We can log in to his company at the same time he’s on the internet, regardless of where we are; we can see what he’s seeing. And with solid financial information, we are better able to do tax planning.”

Ken adds, “At the end of the year, we tell clients if we haven’t done something for the fee they’re paying besides just doing their books, they probably should be looking somewhere else. Just being a bookkeeper is not what we’re about. if we can’t save on taxes legally, we’re not doing the job for them.”

Fleming says the biggest hurdle with netClient Cs is giving clients confidence in using the system.

“once we’re past that,” he explains, “clients love the system and really enjoy the technology. the most critical step is to spend the time with them in training. After that, they can call us anytime. When they have a problem, we’re there.”



sEt youR COuRSE

uSER pROFIlE


“the fact that our accountant used a web-based system was very impor-tant. We didn’t want to rely on a third party if we had to make changes or mail checks. the more we can rely on technology, the better.” — laDonna Beck

the tuscaloosa, Alabama, law firm of tanner & Guin, llC, found itself at a crossroads when the controller left. Decisions had to be made on which internal accounting functions to outsource. Particular consideration was given to payroll because the corporate tax firm has 51 associates, including 14 attorneys.

“our payrolls can be spur-of-the-moment and there can be special payrolls,” chief executive officer laDonna Beck says. “our payroll software was linked to time and billing, so we would have had to update it ourselves, which we didn’t feel was feasible.”

the firm turned over the payroll responsibility to the local accounting practice of scott Whisenant, CPA/PFs.

“We researched several companies before deciding to go with scott,” Beck says. “the fact that they used a web-based system was very important. We didn’t want to rely on a third party if we had to make changes or mail checks. the more we can rely on technology, the better. We’ve had success with other automatic transfers, so we were leaning toward that solution.”

there were other advantages of the software Whisenant uses that appealed to Beck. if there are errors, information can be transmitted back and forth quickly. Also, he has the responsibility to keep up-to-date with changes in payroll tax regulations.

“We want to use technology to create efficiencies,” she says, “and we like the fact that our associates can look at their payroll information whenever they want by logging on to their web portal. i took an informal poll and found it was easy for them to find what they needed. they’ll get their W-2s through the same system, and it will be easy to download if additional copies are needed. Plus, they will have a historical record of their information if documentation is needed.”

Full-SERvICE pRACTICE

Whisenant started his practice in 2003 with a focus on small businesses. He is licensed to sell securities

and insurance and helps clients with financial planning.

“My goal has always been to be a one-stop shop with accounting services,” he says. “in the past, i would advise clients and recommend someone who could provide a service we didn’t offer. unfortunately, things didn’t always get done, so i decided to add other services. Many clients can’t hire professionals to help manage their businesses. We want to be that outsource for them.”

the practice has 200 small business clients and completed 800 individual tax returns last year. the typical client has 30 employees or less, while the target is start-up businesses with fewer than 10 employees. in February 2008, the firm acquired a small write-up and payroll practice that is located downtown.

the primary location includes Whisenant, a bookkeeper, and two administrative people. the payroll business is headed by Carol Mitchell, CPA, and includes two bookkeepers and a receptionist.

dOINg mORE WITh lESS

Whisenant has been using thomson Reuters’ software for about a year.

“When i decided to acquire other practices i knew i needed the right software foundation to be able to handle multiple offices,” he says. “We can’t have separate systems that don’t talk to each other. that’s what got me interested in Virtual office Cs. Regardless if it’s another location or someone is out of the office, we can just log in to monitor and manage clients and the firm. We can do more with less, so to speak, and the software is constantly updated. this increases efficiency for us and our clients. By using all of thomson Reuters’ products, we flattened our learning curve and can provide more services.”

to lEt WEB tECHnoloGy DRiVE youR GRoWtH

laDonna Beck, center, chief executive officer of tanner & Guinn, llC, turned to scott Whisenant’s accounting practice for payroll in large part because the firm provided a web-based service, which is headed by Carol Mitchell, left.


Speed Tax preparaTion WITh SOuRCE dOCumENT pROCESSINg

source Document Processing via FileCabinet Cs— a new service offering from thomson Reuters— enables ultratax Cs users to achieve faster tax processing through the use of optical character recognition (oCR) technology. For firms with a centralized, up-front document scanning process, this new service can save additional time and costs by shifting the responsibility for advance source document scanning and data entry from the professional preparer to a non-accountant or administrative staff member. this new technology is available in ultratax Cs 2008 for firms that have licensed both ultratax Cs and FileCabinet Cs.

ultratax Cs users can use FileCabinet Cs to transmit 1040 source documents (that have been scanned into FileCabinet Cs) to thomson Reuters host computers for source Document Processing. During source Document Processing, oCR

technology is employed to identify certain tax documents and capture data. users can then retrieve the named documents and the tax data into the FileCabinet Cs source Document utility. When ready to prepare a client’s tax return, you need only to verify the captured data within the ultratax Cs source Data Entry module, and open the ultratax Cs client to accept or reject the data. the data captured during source Document Processing then becomes part of other data-sharing data to be accepted in ultratax Cs input screens.

thomson Reuters is proud to lead the profession in advancing the use of oCR technology. source Document Processing is another example of our commitment to develop advanced technology that helps our users be as efficient and cost effective as possible. the new source Document Processing service is available to you for 2008 ultratax Cs processing—contact your Customer service Representative at (800) 968.0600 for more information.

NEWS lINE

ContinuED FRoM PAGE 3

INCREASINg EFFICIENCy

A local restaurant was a client of the practice that Whisenant acquired last year. the restau-rant owner spent a great deal of time entering employee hours manually.

“i met with the restaurant owner and he admitted he wasn’t running the business very efficiently,” Whisenant says. “He has a lot of employees and was having a hard time keeping up with payroll. He’d enter it into

his system and send it to us. then we had to rekey the information. But with thomson Reuters’ technology of netClient Cs web portals, he just logs on, enters the hours, and he’s set. We see what he sees. that step cut down tremendously on the data entry time for both of us, plus there are very few errors. We’re trying to automate ‘compliance’ areas such as payroll and write-up. it’s important that clients get information as quickly as possible so they can better manage their businesses.”

there’s probably not one client that uses every service the practice offers. Whisenant and his staff do payroll, retirement planning and tax returns for some clients, but maybe not their bookkeeping.

“We do lots of combinations,” he says. “that’s part of the idea in putting the software foundation together. By going totally with thomson Reuters we don’t have to learn or teach nine different software programs to address nine different issues. We have a menu of items so clients can pick and choose what they’d like us to provide. However, the key is to be web-based so clients can access their information anytime, anywhere.”

Whisenant expects to grow the payroll part of the business.

“We feel we have the technology to do everything a national firm does, but we’ve got real people for our clients to talk to,” he says. “A lot of small businesses need accounting services, but can’t do it themselves. Payroll will feed into tax preparation, which will feed into financial services. We want to use technology and the internet to be as efficient as possible and improve everyone’s bottom line.”

“i love trying new things,” Whisenant says. in addition to boating, his recreational interests include scuba diving, tae Kwon Do, hiking, biking and skiing.

TIpS & TACTICS


UlTraTax CS

QUeSTion: How can i use ultratax Cs to access the RiA and PPC products for which i am licensed?anSwer: Choose setup / user Preferences and click the Research tab to view the research tools that can integrate with ultratax Cs. Highlight any tool listed on the Research tab to read about how it integrates with ultratax Cs. to activate the links and integration available for a product, mark the appropriate checkbox and click oK. Tip 1: save time and eliminate redundant data entry by importing data from your spreadsheets into ultratax Cs. you can import data from a spread-sheet into any statement dialog in ultratax Cs, thereby saving significant time when working with clients who have hundreds or thousands of capital gain/loss transactions. to import data from a spreadsheet into a state-ment dialog, open the desired statement dialog, then choose statement / import spreadsheet. in the import spreadsheet dialog that opens, specify the spreadsheet you want to use, select a specific work-sheet, create a column mapping for the spreadsheet (so that ultratax Cs imports the spreadsheet data into the correct statement columns) and specify other settings as needed. Tip 2: using custom fieldviews can help speed up data entry and provide a consistent look and standard spelling for all tax returns that leave your office. Cus-tom fieldviews enable you to define custom entries for many common drop-down lists, allowing you to quickly select items to fill applicable fields rather than repeat-edly entering the same information. Custom fieldviews are especially useful for entering repetitive data for new clients and for local or regional common items. For example, banks (in interest and dividend income), employer names, cities, and occupations are common items that can be entered into a custom fieldview and quickly selected for each applicable field, instead of entering the same text each time. Custom fieldviews are indicated by an arrow and a vertical green bar next to a field. When your cursor is located in a field with an attached custom fieldview, choose Edit / Custom Fieldview to open the dialog in which you can enter valid entries for that field. An even quicker way to enter items in a custom fieldview is to enter an item directly into the field and press CtRl+s to save the item in the fieldview. you can add an unlimited number of items to a custom fieldview and because these items proforma each year, you only have to enter them once!

web ServiCeS

QUeSTion: Can i access my network drives from Cs Professional suite applications that are running through Virtual office Cs?anSwer: yes. you can access your network drives through any dialog in which you can enter a data location. in place of the drive letter, simply enter \\client\X$, where X is the network drive. For example, you would start the path with \\client\m$ to access the M:\ drive on your local network. Note: your network drives are not listed in programs that run in the Virtual office Cs environment because building the list of network drives increases login time.

wriTe-Up CS

QUeSTion: Are there any options available to speed up transaction data entry?anSwer: From the transactions window, press F3 to open the context menu and choose the options command. on the Data Entry tab of the transac-tion options dialog, you can select options to have the program automatically increment journal entry numbers and enter both the date and the descrip-tion. on the Columns tab, you can rearrange the order of the data entry fields to match the source documentation from your clients.

QUeSTion: i store my reports in FileCabinet Cs, but there are a couple of reports that i run for my client that i don’t want to save in FileCabinet Cs. is there any way to prevent those reports from being stored? anSwer: yes. When the FileCabinet Cs Docu-ments window opens, simply clear the checkbox for any report or statement that you do not want to print to FileCabinet Cs.

QUeSTion: is there a quick way to get a General ledger Report for just one account without having to close out of the transactions window?anSwer: yes. From the transaction window, press F3 and choose the View G / l Activity command from the context menu. Enter the account for which you want to view activity, mark either the current-period option or the year-to-date option, and then click the Continue button. this will quickly give you the activity for the selected account. you also have the ability to search for a specific reference number, date, description, or amount and print the activity for the selected account.


wriTe-Up CS & payroll CS

QUeSTion: Can i file my client’s W-2s electronically? anSwer: yes. Both Payroll Cs and the Payroll Compliance module enable you to create a W-2 file to upload to the social security Administration (ssA). you can do this by following these steps: 1. Choose utilities / W-2 Form Processing /

<year>, mark the Create W-2 File checkbox, and click the Print button. (if you are not printing copies of the W-2s to the printer at the same time, do not mark any of the checkboxes in the Print What section of the window.)

2. From the W-2 Form Processing window, you can then preview the file to see if there are any errors, or choose File / W-2 File utilities / Verify.

3. When the file is ready to send to the ssA, choose File / W-2 File utilities / save to sub-mittable Format. saving the file in this format decrypts the file so it is readable.

4. you are now ready to upload the file to the ssA website (www.ssa.gov). the Accuwage tool on the ssA website will read the file and list any errors it detects.

payroll CS

QUeSTion: i am trying to enter an employee’s check but keep getting this message: “you may not add an unprinted check in a processing period that is not the latest processing period. Move to the lat-est processing period to add an unprinted check.” What does this mean? anSwer: you will see this message if you attempt to enter an unprinted check after having moved back to a prior payroll period. to find out what your latest period ending is, choose File / Client Properties and click the Payroll tab, which lists both the current period ending date and the latest period ending date for the client. unprinted payroll checks can be entered only from the latest period; only handwrit-ten checks can be entered for a prior period. if you need to revert back to a prior period to enter and print checks, you must first delete any printed or handwritten payroll or vendor checks entered in any subsequent period. unprinted checks will auto-matically revert along with the period, so you won’t have to delete those. When there are no checks in the latest period, then you can choose File / select Period to Process to revert back and make the prior period become the latest period. (Another option is to choose Help / Revert to Previous Month.)

Note: the payroll period will revert only if the following criteria are met: • Nohandwrittenorprintedchecksexistinthe

period you are moving back from. • Nohandwrittenorprintedchecksexistinany

payroll period between the period you are mov-ing from and the period you are moving back to.

• Theperiodyouaremovingbacktoisinthesame year as the period you are moving from.

QUeSTion: My client gave me their payroll data in an Excel spreadsheet. Can i import that data into Payroll Cs?anSwer: yes. From the Payroll Check Entry win-dow, press F3 and choose Excel time Entry import from the context menu. Browse to the Excel spread-sheet file and click oK to open it in CsA. to view instructions on how to format the file, press F1 from the Excel time Entry import screen and then click the link to open the Excel time entry import example.

Trial balanCe CS

QUeSTion: i am trying to create a tax link for my tax vendor, but i do not see an option for 2008.anSwer: to successfully create your 2008 tax link file, you must have Creative solutions Accounting™ v.2008.1.1 installed, along with all of the latest software updates, which you can down-load and apply using Cs Connect™. to verify your software version, choose Help / About CsA.

QUeSTion: Can i reproduce the Gosystem® Audit tax Proforma report in trial Balance Cs?anSwer: yes. trial Balance Cs v.2008.1.1 includes a new report called tax Code Worksheet. this report is comparable to the Gosystem Audit tax Proforma report. if you are not familiar with this report, its pur-pose is to provide the reviewer with a tool to ensure the accuracy of the tax coding in the Chart of Accounts.

engagemenT CS

QUeSTion: i am trying to integrate with PPC’s smart e-Practice Aids™. However, the option is grayed out when i choose tasks / PPC / sMARt e-Practice Aids. How can i make that command accessible?anSwer: try these troubleshooting steps: • MakesurethatSMARTe-PracticeAidsis

installed on your C: drive. • Verify that you have set up an engagement

within Engagement Cs. in Engagement Cs, if you see only trial Balance status, choose File /

TIpS & TACTICS


new / Engagement to add a new engagement. • Ifyoualreadyhaveanengagementinthe

program, make sure that you have highlighted the engagement name in the treeview window.

• VerifythatSMARTe-PracticeAidsopenssuc-cessfully outside of Engagement Cs and, if it does not, then try reinstalling that program.

ClienT bookkeeping SolUTion® (CbS)

QUeSTion: is there a way that i can limit which checkbooks a certain CBs user can access?anSwer: yes. if you have rights to edit the pro-gram’s security settings, choose Checkbook / setup and click the security tab. you can use the check-boxes in the security tab to permit or restrict access to the selected checkbook for each CBs user.

QUeSTion: How can i issue a refund from CBs Accounts Receivable to an AR customer who overpaid?anSwer: First, highlight the unapplied payment in the AR transaction window and then choose Edit / issue Customer Credit / Refund. An unprinted check or other item (cash) will be created in the specified checkbook.

Fixed aSSeTS CS

QUeSTion: sometimes i need to move back to a prior processing period and enter additional assets. When i return to the current period, it appears as though the additional assets i entered are not brought forward. Why is that?anSwer: to bring forward changes made in a prior processing period, you need to re-close the client to the current period after you enter additional assets. to do so: 1. Click the Close to next Period or Close to

next year button in the File / select Period to Process dialog.

2. in the Data Exists prompt, click the Merge button to merge the changes into the current processing period.

QUeSTion: i use Fixed Assets Cs to calculate depreciation for all of my assets. i recently started to use a hand-held bar code scanner to conduct inventories. Can Fixed Assets Cs print the bar code labels i need?anSwer: yes. Fixed Assets Cs prints asset labels in the Codabar, 3 of 9, and 2 of 5 formats, which are read by

most hand-held scanners. to create asset labels, choose utilities / Asset labels. For more information on printing asset labels, choose Help / Fixed Assets Cs Help topics, click the index button, enter labels, and click “printing.”

FileCabineT CS

QUeSTion: is it possible to pre-populate all of my drawers in FileCabinet Cs with 2008 ultratax Cs folders without having to print anything from ultratax 2008?anSwer: yes! there are two methods you can use, depending on whether or not you have already proforma’d your ultratax Cs data from 2007 to 2008. if you have not proforma’d the ultratax Cs data, complete the following steps. 1. start 2008 ultratax Cs and choose setup /

system Configuration. 2. in the FileCabinet Cs tab, verify that the “Create

ultratax Cs folder in FileCabinet Cs when a new client is added or proforma’d” checkbox is marked.

3. Proforma your ultratax Cs data from the 2007 to the 2008 program as usual.

if you have already proforma’d the ultratax Cs data, complete the following steps. (note that FileCabinet Cs adds clients and folders for all ultratax Cs clients who do not already have drawers in FileCabinet Cs. this process will not overwrite any existing clients and folders in FileCabinet Cs.) 1. in ultratax Cs, choose Help / Repair. 2. in the Misc tab, mark the “Create ultratax Cs

folder in FileCabinet Cs clients” checkbox and click the Populate button.

QUeSTion: is there a way to organize the data in FileCabinet Cs drawers by year rather than by product and folder?anSwer: yes. to display folders by year, click the sort/Focus button above the Folders window. then click the “Display drawer content as: Folders within each year” option and click oK. now when you open a drawer, you will see a folder designated by a calendar icon for each year for which FileCabinet Cs contains information. the document folders and contents will be inside those calendar folders. (note that custom document folders that are not recurring folders will appear below the calendar folders.)

QUeSTion: i like emailing documents directly from FileCabinet Cs to my clients, but i want to include my company logo in my email signature. Can i do that in FileCabinet Cs?

PRSRT STDU.S. Postage

PAIDLebanon Jct., KY

Permit #246

Cs.ThomsonreuTers.Com (800) 968.8900

Financial Analysis CS™

Fixed Assets CS™

NetClient CS™

Payroll CS™

Planner CS™

Practice CS™

ToolBox CS®

Trial Balance CS™

UltraTax CS™

Virtual Office CS™

Web Builder CS™

Write-Up CS™

Client CS™

Engagement CS™

FileCabinet CS™

TIPs & TACTICs

TL19718

Cs Professional suite®

SOLUTIONSAnswer: Yes. Starting with version 2007.1.3, you can add an image to an email signature by following these steps: 1. Choose Setup / User Preferences and click the

Email Options tab. 2. In the Email Signature list, highlight the signa-

ture you want to edit and click the Edit button. 3. Click the Image button, navigate to the location

of the image file, select it in the list, and click the Select button.

4. In the User Preferences dialog, click the Enter button to save your changes, and click OK to close the dialog.

PrActice cs

Question: What is the best way to establish bud-gets for my projects in Practice CS?Answer: When you are setting up projects initially, you can establish budgets by entering the estimated hours and/or cost needed to complete the projects. (Enter this information either in the project templates or in the projects themselves.) You can then generate future projects with estimated budgets based on the actual time and/or cost required to complete previ-ous projects. Practice CS tracks project information automatically and will adjust the estimated budgets

to be used for future projects accordingly. To set up project templates to generate future projects with budgets based on actual figures from previous projects, choose Setup / Templates / Proj-ects. On the Main tab, mark the Budget information checkbox and select Actual from the drop-down list. To modify existing projects without changing the project templates, choose Actions / Manage Projects, select the projects you want to modify, then right-click and choose Edit Selected Projects from the con-text menu. In the Edit Selected Projects dialog, select “Generate Budget information from Project” from the first drop-down list, mark the checkbox, select Actual from the second drop-down list, and click OK.

Question: Outside of the standard reports in the Print Reports screen, are there any additional reporting resources?Answer: Yes, there is a Practice CS Library portlet that is available on any dashboard. This portlet offers numerous custom invoice formats, state-ment formats, reports, and labels. The reports in the Practice CS Library were created by our Support and Development teams, and by customers like you, using the Custom Formats feature in Practice CS. To add this portlet, open any dashboard, click the Se-lect Portlets link, mark the checkbox for the Practice CS Library portlet, and click OK.

Documents

SOLUTIONS - Tax and Accounting Software for CPAs and Tax