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every little bit counts Elena Hesse makes helping others a priority in her office.
SOLUTIONSTIpS, TrENdS, aNd cONNEcTIONS fOr USErS Of THOmSON rEUTErS SOfTwarE
SOLUTIONSISS
UE
3 |
20
09
ready for tax season?Enhanced services ease your workload—and your stress.
Make the Most of your tiMe Increase firm productivity with advice from our software experts.
+ how mypay Solutions makes clients happy[ ]
SERVING UP:strateGy
Accountant and former chef Marc Schain brings unique experience and
expertise to the table
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 2009 Thomson Reuters, Issue 3, 2009. Copyright 2009 Peter Dazeley/Getty Images (cover), Copyright 2009 Mark McCarty/Mark McCarty Photography (Mark Shain), Copyright 2009 Joe Vaughn/Vaughn Media Inc. (Elena Hesse).
issue 3 | 2009
[ 2 ]
Questions or feedback? Email your thoughts to [email protected].
marc Schain s recipe for Success8
Tip-Top Tax Season 12
Behind the Scenes: Elena Hesse6
FEATURES
4 newslineSpeedy filing and customizable portals, just in time for tax season.
7 in your words Tips from a peer on preventing stress on the job.
14 tips & tacticsStop searching. Our software experts have the answers.
AlSO INSIDE
SOLUTIONS
Join our online users’ forum, at CS.ThomsonReuters.com/Community.
Find more on the web, at CS.ThomsonReuters.com.
SOlUTIONS [issue 3, 2009]
CS.THOMSONREUTERS.COM [ 3 ]
The 2009 Users’ Conference: Building Networks the Old-Fashioned Way
VIEW POINT
Every year, the Thomson reuters Users’ conference reminds me that, no
matter how far technology takes us, there’s still nothing like getting everyone
together in the same room. The most recent conference held in Orlando,
November 4 through 7, was certainly no exception.
It’s hard to express how inspiring it is to meet and shake hands with the
people who put the latest accounting and tax workflow ideas and products
into practice every day to get taxes done, to get paychecks out, and to
communicate and collaborate both within the firm and with clients. from
new technology to new ideas for serving clients to taking on more work without more staff and
stress, we’re fortunate to work in a profession that has such a vibrant culture of innovation.
By the looks of this year’s conference, that culture is healthier than ever. The enthusiasm, the
discussions, the ideas and the venue were nothing short of amazing. I learned a lot, as I do every
year. and I’m confident that our attendees did too. whether or not you were able to make the
trip, I want to thank you for another exciting year.
chances are, this issue of Solutions will find you back at the office, gearing up for another busy
tax season. I want you to know that we’re doing the same. as usual, we’ve been working to
develop new ways to make this season less hectic and more profitable with products like the
new staff management module for practice cS; Service Bureau payroll cS with advanced batch
processing capabilities; online bill pay through Netclient cS; source document processing for
automatic organization of scanned documents and automatic data entry into UltraTax cS using
Ocr technology; and new training and consulting options. I’m confident that they’ll help you
and your staff do even more in the busy months ahead.
But even with so many new ideas, we’ve also taken care to improve the basics. we’ve spent time
improving our product support, training our staff, and providing you with new ways to get in
touch with us. Because sometimes, there’s just no substitute for a one-on-one conversation.
I wish you a prosperous tax season. Thanks again.
In his most recent interview, Baron reflects on the 2009 Users Conference. Listen at cs.thomsonreuters.com/solutions.
CS Professional Suite®
& Enterprise Suite™
ACCOUNTING
client Bookkeeping Solution®
Engagement cS®
financial analysis cS®
Trial Balance cS™
write-Up cS®
DOCUMENT MANAGEMENT
filecabinet cS™
Gofileroom®
PAYROLL
mypay Solutions®
payroll cS®
Service Bureau payroll cS™
PRACTICE MANAGEMENT
practice cS®
TAX
fixed assets cS®
GoSystem® Tax rS
planner cS®
ToolBox cS®
UltraTax cS™
WEB SERVICES
Netclient cS®
Virtual Office cS™
web Builder cS®
Jonathan a. Baronpresident, professional Software & ServicesTax & accounting Business of Thomson reuters
NeWsLiNe
SOlUTIONS [issue 3, 2009][ 4 ]
Did You Know?Here’s an easy way to
get your staff primed
for another tax season:
Thomson reuters
now offers more than
30 On-demand Training
courses for a variety of
cS professional Suite
and Enterprise Suite
solutions. for more
information, go to
cs.thomsonreuters.com/
training/ondemand.
UltraTax cS users who also have filecabinet cS can now take advantage of the newly enhanced Source document processing service to organize and categorize scanned client source documents and extract data for transfer to UltraTax cS. Netclient cS
users can also automatically populate their client portals with applicable client source documents at the same time a completed 1040 tax return is placed in the portal.
when coupled with the cS professional Suite’s seamless integration, this service can save tax preparers significant time and costs. The ability to neatly label and organize individual client source documents, combined with the option to review and accept data captured off the source documents for transfer to UltraTax cS, greatly increases 1040 tax preparation workflow efficiency. for the 2010 tax season, we’re offering a special price of $6 per client for this service, which includes data extraction as well as labeling and organizing for an unlimited number of scanned source documents.
here’s how the source document processing service works: UltraTax cS users transmit 1040 source documents that have been scanned into filecabinet cS to Thomson reuters host computers, where optical character recognition (Ocr) technology
is used to identify, organize, and categorize certain documents (such as w-2s, 1099s, or K-1s) for easy access and use. Ocr technology also enables the extraction of specific data, which can be easily reviewed for accuracy in the UltraTax cS Source data Entry module. when it’s time to prepare a client’s tax return, preparers simply open the UltraTax cS client to accept or reject the extracted data. client source documents from filecabinet cS are also automatically populated when the clients’ completed tax returns are added to their Netclient cS portal.
The enhanced Source document processing service is available for 2009 tax processing. for more information, contact a customer Service representative at 800.968.0600. press option 1, then option 6.
Just in Time for TaxesSource Document Processing speeds document management and streamlines tax prep.
[ 5 ]
Portals Make life a little SimplerNew features, streamlined pricing for NetClient CS
CS.THOMSONREUTERS.COM
netclient cs allows firms to instantly and securely
exchange files with clients, post finished documents
such as tax returns and web organizers online,
implement online client billing and payment, and
much more. and now, firms can send individual 1040
client web organizers and completed tax returns
directly from UltraTax cS to Netclient cS portals.
Netclient cS also has a new simplified fee structure
that makes it easier to implement. a one-time setup
fee and flat monthly rate allows users to create up
to 1,000 base portals. Each client portal can be
customized with add-on options, such as tax return
presentation, a web organizer, document presentation,
file exchange, stock quotes, and more.
also new is the Source document flow feature, which
automatically populates individual client source
documents to Netclient cS from filecabinet cS
when completed 1040 returns are pushed from
UltraTax cS 2009 to the Netclient cS portal. and
for firms using practice cS, Netclient cS Bill pay
provides the option to invoice clients and collect
credit and debit card payments from clients through
their Netclient cS portals.
many clients cite the convenience of reviewing and
retrieving their documents any time they need access
to their personal financial information as a major plus
of online portals. portals also simplify the process of
entering payroll data and retrieving payroll checks for
payroll clients.
portals are an increasingly popular way for accountants
to position themselves as their clients’ primary advisors,
thanks to the many benefits portals offer both the firm
and the client. for the firm, printing, postage, and filing
costs are reduced when documents are posted to online
portals. also, an increased online presence allows
firms to offer a variety of new services and gives them
the ability to expand their client roster outside their
geographic region.
for details about Netclient cS portals,
call Sales at 800.968.8900 or email
myPay Solutions Helps You Get Answers and Get Paid
learn more about easier
payroll processing at cs.thomsonreuters.com/
mypaysolutions. For details about HR Answerlink, go to cs.thomsonreuters.com/ products/preferred-partners.
mypay Solutions, Thomson reuters payroll processing
service, has added two new offerings: a human resources
reference tool and a means for practitioners to collect
accounting fees as a client’s payroll is funded.
• hr answerlink: a web-based subscription service,
Hr answerLink offers clients quick access to a variety
of Hr resources, such as forms, information on
hiring practices and employment laws, and more.
Included in the service are sample templates for job
descriptions, employee handbooks, and other helpful
documents. There is also an option which gives the
client unlimited email and telephone access to a
national network of Hr professionals.
• collection of accounting fees: due to current
economic conditions, some accountants are finding
that clients take longer to pay their outstanding
accounting fees. To help remedy this situation,
mypay Solutions offers the following suggestion:
consider having your client pay accounting fees at
the same time they fund their payroll.
for example, a client is paying $200 per month for
accounting services with a semi-monthly payroll.
The accountant could collect $100 of those fees
each time payroll is run. The accountant benefits
with faster payment of fees, and many clients find it
easier to pay their accounting fees in smaller, more
manageable increments.
If you’re not currently processing payrolls for your
clients, mypay Solutions can help you set this up and
have your fees direct-deposited into your account.
[ 6 ]
BEHIND THE SCENES AT THOMSON REUTERS:
ELENA HESSE Organizes Helping Hands
Solutions: what inspired you to create the Giving season charity drive? elena hesse: It started 20 years ago, when other employees and I were talking about the many people who aren’t as fortunate as we are. we finally said, “Let’s do something.” So I got it started, and today there are employees across the company who really keep it going.
how does the charity drive work? from Thanksgiving through christmas, people bring in wrapped gifts, board games or boxed cereal. They also donate cash, of which Thomson reuters matches 100 percent. we donate the cash to the Ken & marianna Staples family center, a local shelter, and everything else goes to The Salvation army.
what keeps you motivated to give back like this every year? If we don’t, who will? The shelter and The Salvation army count on this kind of help, and it’s become an annual responsibility for me—a good responsibility. what we provide is a huge help, but it doesn’t take a huge amount of time.
do you see a connection between Giving season and your day-to-day work? what I like about sales is that I get to use my knowledge to help people put solutions together that can really benefit them. and I started the charity drive for the same reason: to help people.
iNsiDe sTORY
Meet elena hesse, cpa, director of sales for
myPay Solutions at Thomson Reuters in Ann Arbor,
Mich. Hesse began working for Thomson Reuters
in 1987 as a sales representative. Twenty years ago,
she initiated an employee-led Giving Season charity
drive. She shares her home with husband David,
whom she met when he worked at Thomson Reuters,
and their three children.
SOlUTIONS [issue 3, 2009]
total donations durinG last year’s GivinG season: 414 gifts, 70 board games, 180 boxes of cereal and just under $7,000 in cash.
take it away: “any firm can do what we do,” Hesse says. “You just have to set it up, and people will help. all these random acts of kindness—they count and they do add up.”
all in the faMily: Hesse’s husband is a cpa. does his firm use Thomson reuters software solutions? “I would pretty much have to kick him out of the house if he didn’t,” she jokes.
–ADD IT UP
LISTEN AND LEARN: Hear more from Elena Hesse about the impact of charitable giving at cs.thomsonreuters.com/solutions.
[ 7 ]CS.THOMSONREUTERS.COM
pressure pointscpa John dougherty shares his stress-busting strategies.
with 30 years in the tax and accounting profession— 21 of those as head of his own firm—John dougherty knows stress. and he's learned a few tricks to handle it. here, the owner of John t. dougherty, cpa, llc, in westport, conn., recommends four ways to stave off the tension of tax season.
preparefirst and foremost, plan ahead. Take time now, before your tension gets out of hand, to figure out survival strategies for you and your firm. dougherty typically kicks off tax season by brainstorming with friends who own small firms like his. “In November or december, we discuss what we did in the current year and what we’re going to do differently in the year to come,” dougherty explains.
advanced planning for dougherty also includes assessing his staff’s skills and capacity. He determines how many, if any, temporary accountants he needs to help with the tax-season workload.
Once he’s hired temps, he trains them in the firm’s tax preparation process. He also gets them up to speed on the firm’s software tools, which include Virtual Office cS and UltraTax cS.
“I’ll first run through UltraTax cS in a group setting to see how comfortable individuals are,” dougherty says. “Then I can easily see where additional training is needed.”
be flexibleNo matter how organized you are, tax season means long hours and, for this reason, dougherty suggests investing in software and technology that lets staff work out of the office. Take Virtual Office cS, for example. The web service provides remote access to software and data via the Internet.
“Virtual Office cS is a fantastic tool,” dougherty says. Not only does it give employees the ability to take work home if needed, but it also gives firms greater flexibility in who they hire. “I have a part-time cpa on staff who is in florida from January through almost the end of march, but he can still get the work done using Virtual Office cS.”
Make time for lifedougherty recommends striving for a balance between work and home. when his kids were in school, he made it a priority to attend all their important events, even during tax season. He encourages his staff to do the same.
To help keep “the juices flowing,” dougherty also makes time to visit a local gym. plus, he explains, “Eating habits change in tax season, so working out also helps keep me from, well, getting fat!”
dougherty takes care of his staff, too, ordering in lunch a few times a week. phone calls go to voice mail while employees gather in the conference room for a break.
embrace the chaosSchedule your days in a way that allows for the unexpected. dougherty staggers appointments to leave time for reviewing tax returns, doing prep work, or handling unforeseen tasks that inevitably arise.
Sure, dougherty admits, he sometimes wishes divorces or building acquisitions would happen only in July. “But normal life doesn’t stop just because we’re busy doing tax returns,” he says.
The key, then, is to prepare the best you can and then go with the flow. “Sometimes you pray for more hours in the day and you’re grateful when someone requests an extension. and you just do the best you can to get it all done.”
197,209,000:Total number of income tax returns filed in the U.S. in 2008.
+7.8%: percentage increase in number of income tax returns filed in 2008 versus 2007.
iN YOuR WORDs
[ 8 ] SOlUTIONS [issue 3, 2009]
Marc schain, cpa, Moved to new paltz, ny,
in the early ‘70s. a frequent visitor to the Hudson
Valley college town, he loved New paltz for years and
looked forward to moving out of New York city and
on from the large cpa firms he’d worked for. Schain
intended to leave accounting behind him and pursue
his passion for cooking by opening a restaurant. and
that's exactly what he did.
Until, that is, customers began approaching him
saying, “I heard you’re a cpa. would you mind doing
some work for me?” Schain soon found himself serving
up a familiar dish: tax and accounting services. “I was
literally preparing taxes and flipping hamburgers at
the same time,” he says. “from a professional point of
view, the town found me. I closed the restaurant and
opened an accounting office in New paltz.”
while Schain was establishing his company in New
paltz, his brother, ron, also a cpa, was launching a
small firm of his own in fort Lauderdale, fla. Like
his brother, ron had traded in the large-firm lifestyle
in New York city for a smaller, more personally
oriented practice.
Having honed their skills working for large accounting
operations, the brothers were well prepared to
run firms of their own. Still, they found themselves
turning to each other for support on occasion and
soon realized that they could join forces to create a
single firm with locations in New York and florida.
the right tools
The geographic distance between offices has
presented challenges, particularly in the firm’s early
Recipe fOR
With one part small-business experience, three parts accounting expertise, and a hearty portion of software solutions, Marc Schain serves up smart strategy.
success
Z
success
Z website The company offers a variety of client tools, including a portal for secure document exchange, at schainandcompany.com.
Z software In addition to mypay Solutions, “we essentially use all the programs” that make up the Thomson reuters cS professional Suite, says marc Schain. among his favorites are
practice cS, UltraTax cS, and filecabinet cS.
Z services The firm provides tax planning and return preparation services, payroll services, and contract cfO and management services. Schain and company also offers financial planning services including investment consulting and succession guidance.
schain and coMpany firM facts
SOlUTIONS [issue 3, 2009][ 10 ]
1985
The year Schain took his daughter
Jessica to the annual Thomson
Reuters Users’ Conference.
“She was about 6 weeks old, so I’m thinking she
was the youngest participant ever.”
1346.36The distance,
in miles, between Schain and Company's
two locations. “When you’re
brothers working closely together, sometimes it’s
nice to know that Ron is over a
thousand miles away,” Schain says with good humor.
By owning and operating the restaurant, I gained a huge amount of experience that helps me work with retail businesses. It s the type of insight that
many accountants can t offer their clients.
“ “
years when email and fax machines weren’t options.
To share documents, the Schains relied on good old-
fashioned snail mail and overnight courier.
as the years passed and electronic options grew,
Schain made it one of his goals to put technology to
work for the firm. Schain and company bought their
first computers back in the early 1980s, but quickly
discovered that the software they’d invested in wasn’t
helping them work faster or smarter.
Then, in 1984, Schain heard about a conference hosted
by a company called creative Solutions (now known
as Thomson reuters). after attending the classes and
presentations, the brothers were convinced: They’d
found the tools to help them do their jobs better.
a quarter century later, names and software options
have changed but Schain and company still relies
heavily on Thomson reuters solutions, which help
the firm operate in a paperless environment with
superior efficiency. most recently, the firm began
using mypay Solutions after having tried two other
payroll offerings without success. This payroll service
for clients of accountants is managed by a dedicated,
hands-on team of payroll professionals, and integrated
with other Thomson reuters products for accounting
professionals.
“we are a personal service company, and our clients
value knowing who they are working with. Our clients
weren’t getting that kind of service from third-party
providers until we started using mypay Solutions,”
Schain explains. “If you don’t do payroll correctly, it
can create a lot of turmoil, but all of our clients who are
using mypay Solutions are extremely happy with it.”
He adds that he appreciates Thomson reuters
willingness to respond to the needs of its users. “They
listen to our concerns and what we need, and they try to
come back and give us a better product,” Schain says.
“It’s the same way we aim to work with our own clients.”
CS.THOMSONREUTERS.COM
FileCabinet CS Connoisseur Marc schain so strongly believes in the value of filecabinet cs software that
he presents seminars about it to local businesses through his area’s chamber
of commerce.
“this is the first year we’ve offered a 100-percent completely paperless solution to our clients,
and i’m strongly advising all of our clients to use it,” he says.
for example, when information is stored electronically in filecabinet cs, there’s no need to go
rifling through paperwork if the irs contacts schain and company for additional information on a
client’s tax return. instead, the tax return and source documents can be retrieved and compared
right in filecabinet cs. “we’re able to get the information we need much more quickly and
easily,” schain says.
plus, because he and his brother work from two different locations, a paperless solution is light-
years ahead of the cross-country paper trail of mailings and overnight deliveries that they dealt
with in the late ‘70s.
“Just this morning, ron and i emailed three financial statements back and forth,” schain explains.
“he could work on a tax return on his laptop, get it to me for review, and then we could e-file it.
Going paperless streamlines everything.”
[ 11 ]
whats cookinG?
Schain considers Chinese his culinary specialty and
has studied under a master chef.
Another passion that gets him out of the
office: skiing. At least one morning a week—even during tax-prep
season—Schain spends three hours on the
slopes, arrives at the office by midday, and
then puts in a full day’s worth of work.
Z
THERES MORE ONLINE: Visit
cs.thomsonreuters.com/solutions for an interview with marc Schain and learn his favorite recipe.
a complete Menu of services
Schain and company’s goal is simple: assist clients
in being more successful at what they do. So it makes
sense that, in addition to their tax, accounting,
and financial planning services for businesses and
individuals, the firm provides cfO and management
services. Small companies that can’t afford to hire a
full-time cfO turn to Schain and company for support.
as part of its cfO and management services, the firm
prepares business plans, helps develop market plans,
and assists with bank financing, strategic planning,
and business negotiations. firm staff may attend
board meetings, “which more often take place in
the kitchen of a family-owned business than a
boardroom,” Schain says.
Schain’s experience starting, running, and closing his
restaurant makes Schain and company particularly
valuable to small businesses. “I believe the best way
to help my clients is to make myself a resource by
sharing my experience and my opinions,” he explains.
“Some people perceive the american dream including
a provision for anybody to start a business and,
sometimes, you need to burst the bubble about
owning a small business.”
Just recently, he tried to “burst the bubble” of a
woman who came to him for advice about buying
a restaurant. “after talking to her for a long time,
I realized she had what it takes. She’s created a
very successful restaurant in our area—and I’m her
accountant. So, it’s worked out well for everyone.” 2
iNDusTRY aT LaRge
POP qUIz:
If you surveyed 100 accountants on what they enjoy most about tax season, more than a few of them would probably say, “april 16.” No matter how much you love what you do as an accounting professional, there’s no denying that tax season can turn even the most laid-back firm into a pressure cooker. with that in mind, we asked three Thomson reuters software users to tell us the most important thing they do to prepare for tax season. from the practical to the whimsical, these ideas are sure to help keep your practice calm, cool, and collectin’.
PREPARE FOR ANYTHINGwe perform disaster recovery audits to ensure our
accounting firms can tolerate a complete network
failure on april 14, before returns have been submitted
to the IrS. data must be accessible within 12 hours of
any unforeseen disaster. communications lines must
be available for last-minute client correspondence
and government e-filing. If computer systems are
damaged, will you be able to continue servicing your
clients without delay? what if your computer room
flooded on april 14? would you still be able to print
your client tax returns and submit your e-filing to
the IrS? during tax season, data loss will put your
entire business in jeopardy. The loss of critical tax
documentation is not only embarrassing, it can destroy
your client relationships. If all of your data is lost,
how many clients will stick with you as their financial
footprints are pieced back together?
—Scott Kalogris, Technology Advantage LLC
in Farmingdale, N.Y.
KICKOFF DINNERwe take all of our employees and their spouses out to dinner in January to celebrate a new year and a new tax season!
—Amy Huntley, CPA, Devries, Huntley,
Trifiletti & Loy, Inc., in Westlake, Ohio
what’s your advice for havinG a successful tax season? Share it with other users at cs.thomsonreuters.com/solutions.
Have a tip-top tax season
[ 12 ] SOlUTIONS [issue 3, 2009]
FUN DAYS we have a customer service committee that considers
both our clients and our employees customers.
This committee is informally known as the “fun
committee.” They
get us ready for tax
season by planning
and organizing a
theme day once a
month during tax
season—one day
each for January
through april. These days are intended to be stress
relievers and team building time, in addition to just
giving us time to smile. Our clients know that we have
these special theme days and plan to come in to see us
on them. a few even join us for lunch. Some come just
to take part in our games.
Theme days have included wild west day, Safari day,
crazy Sock and Tie day, fit and fine day, Hawaiian
day, and others. we are expected to dress in costume,
and some even decorate their offices in that theme. we
take an hour for an appropriately themed lunch, and
then carry the theme through to a game or contest
with prizes for the winners. In addition, we give a prize
for “Best in Spirit” for overall involvement.
The wonderful cS professional Suite software
products have given us efficiency and productivity
that allow us to take these r & r moments and still
be very productive.
—Sandra S. Keliher, CPA, PFBF CPAs
in Oakland, Maine
which blogs do you find particularly useful? we invite you to share them with other readers at cs.thomsonreuters.com/solutions.
are you plugged in? The best blogs keep you up to date on the industry’s hottest trends.
Over the last few years, weblogs—commonly known as “blogs”—have grown big. a quick online search turns up thousands of blogs with commentary on topics ranging from bad haircuts to big business. while many simply entertain, others give their creators platforms for airing opinions. Still others are actually useful sources for the latest news and developments in certain industries.
To save you time, we’ve done the research and compiled several accounting-themed blogs you’ll want to check out for informative updates and useful advice.
&rootworks.com darren root, cpa.cITp, cEO of rootworks and executive editor of The CPA Technology Advisor magazine, offers musings on topics as diverse as the state of the accounting industry and the newest mac and pc operating systems.
&Garyboomer.blogspot.com L. Gary Boomer, cEO of Boomer consulting Group, has started a blog, “Think. plan. Grow!” to pass along useful information about all aspects of the accounting industry—technology, the economy, and much more.
&techsavvyfirm.com ryan mccowan, cpa.cITp, of Green, mccowan & co., pLLc, is a technology enthusiast who offers readers insight on all things technology as related to the accounting profession.
&thetechGap.com Gregory Lafollette, cpa.cITp, loves technology—and his enthusiasm is evident in his commentary. Ever heard of a pogoplug? find out what it is by visiting this digital resource created especially for the tax and accounting community.
&blog.bftcpa.com Brian Tankersley, cpa.cITp is a prolific blogger who covers, well, pretty much everything accounting-related in a breezy, enjoyable style. recent blog entries include a look at what’s new in microsoft Office 2010 and how to create a font made from tick marks.
&cs.thomsonreuters.com/community/blogs/MarketingMondays Jack Larue, senior vice president of mypay Solutions, shares lessons learned from more than 25 years of marketing experience in his new blog, marketing mondays.
&cpatechviews.com This collaborative effort from The CPA Technology Advisor magazine uses a regular lineup of bloggers combined with guest bloggers to bring you information and news from the heart of the accounting industry.
&webcpa.com/debits_credits and webcpa.com/ acto_blog webcpa.com is a comprehensive resource for accountants, and their blogs are equally informative. “debits & credits” brings you the latest industry news, while the “accounting Tomorrow” blog is geared toward discussing generational issues that can crop up as younger accountants move into the profession.
CS.THOMSONREUTERS.COM [ 13 ]
Tips & TacTics
[ 14 ]
IN YOUR FIELD OF VISION Search no more. all the tips and advice you need to make the most of your time and software is right here.
ultratax cs
Q: How do I print a blank client Organizer for a
new client?
A: If you’re licensed for UltraTax/1040 client
Organizer, you can print a blank client organizer by
marking the print blank client organizer field in
screen contact in the General folder. Then, choose
file / print organizers to preview or print the blank
organizer.
#tip: You can set this option globally for all new
1040 clients. To do so, choose setup / 1040
individual, click the organizer tab, and mark
the print blank client organizer checkbox in the
new client options group box.
#You can also print a blank client organizer or a
single blank organizer page by choosing utilities /
blank forms / input screens. In the product field,
select 1040/u.s. organizer, then click options.
Specify what you want to print in the print options
dialogue. click ok, then the preview button. In
the preview window, click the print all button in
the toolbar to print the entire blank organizer, or
navigate to the desired page and click the print
one page button.
GosysteM tax rs
Q: when I try to roll over a GoSystem Tax return from
2008 to 2009, I receive a “Tax defaults do not exist
for 2009” error message. what should I do?
A: Your firm’s GoSystem Tax rS administrator needs
to roll over the tax defaults before any returns can
be rolled over. follow these steps to roll over the
tax defaults.
1. click setup and then click the tax defaults link in
the setup pane.
2. Select the account number in the account field and
enter 2008 in the year field.
3. click the rollover button.
SEE MORE ONLINE
more Tips & Tactics await you at cs.thomsonreuters.
com/tips.
SOlUTIONS [issue 3, 2009]
write-up cs
Q: are there any utilities in the program that I can use
to clean up my data before I close the year?
A: Yes, and the beginning of a new processing year is
a great time to run these maintenance utilities on your
client and global database files to keep them orderly.
The program includes utilities to compact data and
permanently remove from the database records that
have been flagged for deletion. running these utilities
can help to decrease the file size of the database and
increase performance speed during processing.
# To compact the client database, choose Help /
Repair. On the Clients tab of the Repair dialog,
highlight the client name and click the Compact
Client button.
# To compact the global database, click the
Miscellaneous tab of the Help / Repair dialog and
then click the Compact Global Database button.
Before using this feature, be sure that all other users
have exited the cSa software.
trial balance cs
Q: I imported the balances for the new year using the
Spreadsheet Import feature, but the trial balance is
now out of balance.
A: In the spreadsheet import dialog, verify that
the correct period has been selected for the period
balance column, especially if you retrieved the column
definitions from a saved setting. all account numbers
should conform to the chart of accounts mask,
otherwise invalid accounts will not import. all of your
accounts should be present in the spreadsheet for
import, including accounts with zero balances. If you’re
importing separate period balance columns for debits
and credits, the balance for each account should be
combined into one of the balance type columns. If
you carried forward the balances from the prior year
and the balances you’re importing in the current year
reflect year-to-date numbers, be sure to mark the
year-to-date-balances option in the spreadsheet
import dialog.
payroll cs
Q: How can I prepare for payroll year-end
processing now?
A: You can open and review two helpful resources
from the index of the cSa help topics dialog.
# Enter Checklists and click the topic called Checklist
for payroll year-end processing. This checklist
outlines all of the recommended procedures,
including how to determine the number of w-2 and
1099 forms needed, as well as how to order forms,
register for e-filing, and verify information accuracy.
# Enter Payroll Year-End Procedures (PDF). This
guide provides a refresher on processing forms,
including 940, 944, 945, w-2, and 1099 forms.
practice cs
Q: How do I ensure that my new practice cS tax projects
are set up to use 2009 UltraTax cS information?
A: Before you generate tax projects due in 2010,
you need to update each project template that uses
UltraTax cS as a solution.
# after 2009 UltraTax cS is installed on your
workstation, choose Setup / Templates / Projects,
select the project template, and click the Edit
button. On the Main tab, select 2009 UltraTax CS in
the Select solution field and click Enter to save the
new solution.
# repeat these steps for each project template that
uses UltraTax cS as a solution.
# note: If the Completion Event field is blank, open
2009 UltraTax CS and verify that the practice cS
data path is correct (in UltraTax cS, choose Setup /
User Preferences / File Locations tab). after
verifying the data path, send the completion events
to practice cS by logging each status event once in
2009 UltraTax cS, or by choosing the Help / Repair /
Misc tab, clicking the CS Practice Products option,
and clicking the Populate button.
featured solutions in this issue
ACCOUNTING
Trial Balance cS
write-Up cS
PAYROLL
payroll cS
PRACTICE MANAGEMENT
practice cS
TAX
GoSystem Tax rS
UltraTax cS
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