CPA Practice Advisor

FEB 2016

Today's Technology for Tomorrow's Firm.

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4 February 2016 • www.CPAPracticeAdvisor.com By Gail Perry, CPA, Editor-In-Chief FROM THE EDITOR Published by SouthComm Business Media, Inc. PO Box 803 | 1233 Janesville Ave. Fort Atkinson, WI 53538 920-563-6388 | 800-547-7377 VOLUME 26, NUMBER 1 Publisher: Barry Strobel Editor-in-Chief: Gail Perry, CPA Managing Editor: Isaac M. O'Bannon Assistant Editor: Taija Sparkman National Sales Manager: Jim Colford Columnists: David McClure Doug Sleeter Jim Boomer, CPA.CITP Kristy Short Randy Johnston Rene Lacerte Roman H. Kepczyk, CPA.CITP Art Director: Rhonda Cousin Site Manager: Lester Craft Production Manager: Barb Evenson Audience Development Manager: Terri Petitt Editorial Advisory Board: Bob Cedergren, CPA.CITP, CISA, CISM, CISSP, CGEIT Chris Fraser, CPA.CITP, CISA, MCP Jason Lawhorn, CPA.CITP Gary A. Masino, CPA Ryan McCowan, CPA.CITP Linda O'Neal Troy Patton, CPA David Primes, CPA.CITP Donny Shimamoto, CPA.CITP Doug Sleeter SOUTHCOMM, INC. CEO: Chris Ferrell CFO: Ed Tearman COO: Blair Johnson VP, Production Operations: Curt Pordes VP, Technology: Eric Kammerzelt Executive Vice President: Gloria Cosby Director of Digital Business Dev.: Lester Craft Subscription Customer Service 877-382-9187; 847-559-7598 Circ.CPA@omeda.com PO Box 3257, Northbrook IL 60065-3257 Article reprints: Brett Petillo Wright's Media 877-652-5295, ext. 118 bpetillo@wrightsmedia.com List Rentals: Elizabeth Jackson email: ejackson@meritdirect.com phone: 847-492-1350 ext. 18 • fax: 847-492-0085 Practice Advisor (USPS 017-576), (ISSN 2160-8725 print; ISSN 2160-8733 online) is published six times per year (February, April, June/July, August, October and December) by SouthComm Business Media, LLC, incorporating two editions known as CPA Practice Advisor and NSA Practice Advisor. Periodicals postage paid at Fort Atkinson, WI 53538 and additional mailing offces. POSTMASTER: Send address changes to Practice Advisor, PO Box 3257, Northbrook, IL 60065-3257. Canada Post PM40612608. Return undeliver- able Canadian addresses to: Practice Advisor, PO Box 25542, London, ON N6C 6B2. Subscriptions: Individual subscriptions are available without charge in the U.S. to qualifed subscribers. Publisher reserves the right to reject non-qualifed subscriptions. Subscription prices: The basic annual rate is $3, based on qualifying associations of 10,000 or more public accountants that may also subscribe for all their public accountant members (certain restrictive covenants apply) for a basic subscription rate of $9 per member for a three-year subscription. One year subscription for all others: USA - $48; CAN $70 GST; INT'L $99 GST. All subscriptions payable in U.S. funds, drawn on U.S. bank. Canadian GST#842773848. Back issue $10 prepaid, if available. Printed in the USA. Copyright 2016 SouthComm Business Media, LLC. All rights reserved. No part of this publication may be reproduced or transmitted in any form or by any means, electronic or mechanical, including photocopy, recordings or any information storage or retrieval system, without permission from the publisher. SouthComm Business Media, LLC does not assume and hereby disclaims any liability to any person or company for any loss or damage caused by errors or omissions in the material herein, regardless of whether such errors result from negligence, accident or any other cause whatsoever. The views and opinions in the articles herein are not to be taken as offcial expressions of the publishers, unless so stated. The publishers do not warrant, either expressly or by implication, the factual accuracy of the articles herein, nor do they so warrant any views or opinions offered by the authors of said articles. The opinions given by contributing authors are their own and are not the opinions of our staff. All trademarks used are the property of their respective owner. 4 F e b r u a r y 2 0 1 6 • w w w . C P A P r a c t i c Gail is the Editor-in-Chief of CPA Practice Advisor and a CPA. She is the author of over 30 books (including "Mint.com for Dummies" and "QuickBooks 2014 on Demand") and she maintains a small tax practice. She earned a bachelor's degree in journalism fom Indiana University and studied accounting at Illinois State University before starting her professional career at Deloite. Gail is the former publisher and editor-in-chief at AccountingWEB and is a former columnist for the Indianapolis Star newspaper. A Tech Message to the Accounting Profession: We'll Be Here For You T he n t he me s s a ge c h a n ge d to CLOUD and it got more forceful and we needed more advanced programs, smar t phones, ema i l addresses that don't end in aol.com, a website for your company (seriously? You don't have t h at Y ET?), a nd apps t h at c ou ld operate in the cloud, and the sofware companies and technology developers a nd a c c ou nt i n g t hou g ht le a de r s seemed to be almost physically drag- ging the accountants along, trying to make sure they were aware of all of the wonderful solutions that were being ofered if only people would open their eyes and minds to these treasures. Tere was a momentum; you had to get on board and adopt new technology or you would be lef behind, lef out. Tere was a race among the developers of solutions to see who could be most efective in turning the heads of the members of the accounting profession, those stuck-in-their-old-ways number nerds who didn't think they needed to update to this year's new breed of fancy tech tools. You could sense the urgency. Just talk to anyone who was using any sort of new latest-edition technolog y and you would immediately feel like you d id n't k now enou g h , were be i n g excluded from the conversation, were bei ng scor ned because su rely you couldn't be providing the best service to your clients. A nd watch out, because that other accountant with the newer technolog y and the fancier web site and the Twiter handle was going to take your clients away. A nd then we got to the present day. Te tone has changed, as has the message. I hear it whenever I talk with people who are tuned into technology and the accounting profession. Unlike for the past several years, it's now okay to be wherever you are on the tech- nolog y timeline. Sof ware producers are going to continue to make changes and improvements in their products, but you don't have to change if you don't want to, and you don't have to apologize or defend yourself if you don't w a nt t he latest version, t he newest app, the fastest phone. Do what is best for you, your business, your clients – and you get to defne what you mean by " best." Technology will continue to evolve, as will you, but you can take a deep breath and move at your own pace, and new solutions w ill be there for you whenever you a re ready for t hem . Stephen Kelly, CEO of Sage, explained it so well. "We are here for our cus- tomers. W hen they are ready to move, we will give them the technology and the training they will need. It must be done on their schedule, not ours." — Gail Perry, Editor-in-Chief Follow me on Twiter at @gaperry GPerry@CPAPracticeAdvisor.com T here was a time when the message going out to accounting frms was, You need to embrace new tech- nology – there are computer pro- grams that can make your life easier. For years we heard, "You need tech- nology." New and faster hardware, smaller disks, backup systems (translate: tape drives and zip drives and copies of your disks stored somewhere ofsite). Maybe you had been using the same sofware program for a decade and were reasonably happy with it, but now it was Time For A Change and you had beter get on board so that you can show your clients how savvy you are and be cuting edge and, most importantly, get the job done faster and more efciently and with fewer errors.

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