april2022 - 14

SALES & USE TAX PREPARATION
Insight: Sales taxes can be simple for
very small businesses, but for growing
ones with an online presence, it is a
challenge to keep up with all of the
taxing jurisdictions. Most voters in
this category said they use state tax
agency websites or the sales tax functions
built into accounting systems
(34.6%). Among the votes for specific
sales tax software, the results were:
WINNER: AVALARA AVATAX, AVALARA
RETURNS (14%)
RUNNERS UP:
* CFS Tax Software (8%)
* CCH Wolters Kluwer (SureTax/
SalesTaxOffice) (6.6%)
* Thomson Reuters ONESource
Indirect Tax (4.8%)
* eFileSalesTax.com (4.6%)
* Bloomberg Tax Sales Tax Rates (4.5%)
* TaxJar (4.1%)
* Sovos Tax Solutions (2.9%)
* Vertex Inc. (2%)
* Calculate Within Accounting
System (31%)
* State Tax Agency Websites (12%)
* Other (5.5%)
SALES & USE TAX EXEMPTION
CERTIFICATE MANAGEMENT
Insight: The number one sales tax
audit risk (after non-compliance) is
exemption certificates. Businesses
that occasionally or routinely make
sales to purchasers who are exempted
from sales taxes must maintain a
record of their certificates. Although
most firms in our survey did not
express a preference or personal use
with these products, those who did
voted as follows:
WINNER: THOMSON REUTERS
ONESOURCE (36.7%)
RUNNERS UP:
* Avalara CertCapture (22.4%)
* Vertex Inc. Exemption Certificate
Manager (18%)
* Sovos Tax Solutions (14.4%)
* Other (8.5%)
ACCOUNTING WRITE-UP SYSTEMS
Insight: Online accounting systems
have dramatically changed write-up,
but the basics are still the same:
ensuring a business' bookkeeping is
accurate. Since small businesses are
frequently victims of internal fraud
(or bad bookkeeping), their books still
need periodic review and reconciliation
by a professional.
WINNER: INTUIT QUICKBOOKS
ACCOUNTANT (52.3%)
RUNNERS UP:
* Drake Accounting (11.3%)
* Thomson Reuters Accounting
CS (6.1%)
* Xero (4.9%)
* Sage Intacct or Sage One (4.4%)
* AccountantsWorld by IRIS Accounting
Power (4.3%)
* Client Accounting Suite (Wolters
Kluwer) (3.1%)
* CYMA Systems (2.3%)
* PC Software Accounting Inc. (2.2%)
* Visual Bookkeeper (0.8%)
* UBCC Real Time Accounting (0.4%)
* Other (7.9%)
AUDIT ENGAGEMENT TOOLS
Insight: With the cloud and other
remote technologies, including helpful
automation tools, audit engagements
no longer take weeks or months to
conduct. Voters were allowed to select
more than one, so totals exceed 100%.
WINNER: CCH PROSYSTEM FX
KNOWLEDGE COACH, CCH PROSYSTEM
FX ENGAGEMENT, CCH ACCOUNTING
RESEARCH MANAGER OR CCH AUDIT
ACCELERATOR (WOLTERS KLUWER)
(17.6%)
RUNNERS UP:
* Thomson Reuters Workpapers CS,
AdvanceFlow or Checkpoint (17.4%)
* AuditFile (10.54%)
* CaseWare IDEA (10.45%)
* Audit Confirmations (8.6%)
* Confirmation.com (6.9%)
* Suralink (6.9%)
* Capital Confirmation (6.6%)
* Audit Dashboard Automated
PBC (6.1%)
* OnPoint PCR (4.4%)
* Wiley Advantage Audit (3.9%)
* Rivio Clearinghouse (3.1%)
* Teammate Analytics (2.7%)
* Other (9%)
BUSINESS VALUATION
Insight: Assessing the value of a business
is often necessary during ownership
transfers, divorce litigation, and
family wealth planning. Although a
small niche, about 10% of our voters
had a preference in this category.
WINNER: SAGEWORKS - VALUATION
SOLUTION (31.6%)
RUNNERS UP:
* ValuSource Pro, BVM Pro & Express
Business Valuation (25.7%)
* MoneySoft Corporate Valuation Pro,
DealSense & Business Valuation
Specialist (17.3%)
* ValuAdder (16.1%)
* Other (9.3%)
FIXED ASSET MANAGEMENT
Insight: Fixed asset management
straddles the line between an
accounting or tax function. Tracking
and maintaining the location and
condition of assets is one part, and
depreciating them using appropriate
treatments is the other. As states get
more aggressive on tax collections,
property tax assessors may become
more vigilant as well, so strong asset
management is a must-have.
WINNER: THOMSON REUTERS FIXED
ASSETS CS (25.4%)
RUNNERS UP:
* Intuit ProSeries Fixed Asset
Manager (21.7%)
* CCH Fixed Assets Manager or CCH
ProSystem fx Fixed Assets (Wolters
Kluwer) (12.3%)
* Pro-Ware Asset Keeper (7.1%)
* Sage FAS Asset Accounting (7%)
* MultiView Asset Management (4.3%)
* Real Asset Management Inc. (4%)
* Bloomberg Tax Fixed Assets (3.9%)
* Open Systems (3.5%)
* Wasp Barcode Technologies (2.5%)
* Other (8.3%)
PAYROLL
Insight: Payroll is the largest category
in the awards, with a wide range of
systems available. Payroll systems
have gotten very self-service and
interconnected over the last several
years, allowing payroll servicess to
become a reliable revenue channel for
many firms, who are able to process
dozens or hundreds of payrolls each
month with systems that automate
most tasks, from payroll runs
to reporting.
WINNER: QUICKBOOKS PAYROLL - BY
INTUIT* (25.9%)
RUNNERS UP:
* ADP Payroll Solutions (14.8%)
* Gusto Payroll (8.8%)
* Drake Accounting (7.8%)
* Paychex (6.9%)
* AccountantsWorsld by IRIS Payroll
Relief (3.8%)
* Thomson Reuters Accounting CS
Payroll or myPay (3.4%)
* AMS 1099-Etc Payroll (2.8%)
* Sage 50 (1.7%)
* CheckMark Payroll (1.7%)
* Crest Payroll (1.5%)
* Patriot Software (1.4%)
* BenefitMall (1.4%)
* SurePayroll (1.3%)
* Cougar Mountain (1.2%)
* OnPay (1.1%)
* Other (Real Business Solutions, Rippling,
PenSoft, CYMA, PCSAI, OnPay,
Paylocity, Red Wing Software, JustWorks,
PayCom, Workful): (14.5%)
* QuickBooks Payroll - by Intuit includes QuickBooks
Online Self Service Payroll, QuickBooks
Online Full Service Payroll, QuickBooks Desktop
Enhanced Payroll, and QuickBooks Desktop
Assisted Payroll.
1099/W-2 COMPLIANCE
Insight: Most W-2 and 1099 systems
for professionals can handle multiple
clients with functions for filing and
distributing wage forms, and helping
to eliminate much of the work
required to process hundreds or thousands
of forms each season. About
75% of our voters reported using a
professional wage reporting system.
WINNER: DRAKE ACCOUNTING (13.4%)
RUNNERS UP:
* eFile4Biz (7.6%)
* CFS Tax Tools (6.8%)
* WoltersKluwer Payroll Compliance
or W2/1099 (6.1%)
* AMS 1099-Etc (5.9%)
* Track 1099 (5.8%)
* Thomson Reuters Accounting CS
Payroll Compliance (5.4%)
* Intuit QuickBooks Products (5.2%)
* 1099 Pro (4.9%)
* Real Business Solutions
W2 Mate (4.1%)
* Greatland Yearli (4%)
* AccountantsWorld by IRIS ATF
Payroll (3.8%)
* EagleView (3.5%)
* Convey Compliance (2.3%)
* Tenenz Laser Link/TFP (1.9%)
* American Riviera Magtax (1.7%)
* EG Systems (1.5%)
* FormMagic Tax-Mate (0.9%)
* Spokane Computer MAGFILER
(0.4%)
* Other: (14.8 %)
TIME & BILLING
Insight: Time and billing management
systems do so much more than the
name implies, also offering advanced
project tracking and reporting that
can help determine productivity,
profitability of segments of the firm,
and identifying roadblocks.
WINNER: TSHEETS BY QUICKBOOKS
(18.2%)
RUNNERS UP:
* Bill.com (9.6%)
* AccountantsWorld by IRIS Practice
Relief (7%)
* Sage Timeslips (5.4%)
* OfficeTools Workspace by AbacusNext
(5.1%)
* BQE Software (4.7%)
* BigTime IQ (4.6%)
14 APRIL 2022 ■ www.CPAPracticeAdvisor.com
http://www.eFileSalesTax.com http://www.Confirmation.com http://www.Bill.com http://www.CPAPracticeAdvisor.com
april2022

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