The news is that while certain companies are trying to ditch their dot coms and to distance themselves from their dot com stores, there are companies like NationTax.com who see the real trend. NationTax.com is jumping in to not only compete, but centralize information in order to compete in the upcoming field on the net – Accounting. Accounting?
To the average tax payer, taxes are getting the best deductions you can to offset your earnings. For those in business, there are more complex tax issues such as sales and use taxes, multi-jurisdiction taxes and dependable calculations. There are also such issues such as auditing, helping to track lost income or misapplication of payments without proper compensation and other accounting loopholes, through which profits are lost.
Top CPA firms like Deloitte & Touche LLP, New York, and Intacct Corp, Los Gatos, California,are understanding the need for cooperation, rather than advesarily trying to “corner the market.” How so?
There are three major divisions right now of tax paying companies, basically created by employees on pay roll. There are also three forerunners who are planning hard for meeting the needs of all three tax payors financial tiers. David Thomas, Intacct CEO and founder said, “We’re saying, if you put accounting on the Web, you can participate in the new economy. The Deloitte & Touche deal is the stamp of credibility.” It certainly is. Having the signature or stamp of approval of D&T makes the desire to raise their client base from 400 to 10,000 by the end of this year, a conceivable transformation. They are also paving the way by contracting to offer singular services listed as contract management, expense tracking and electronic bill presentment.
This will allow Deloitte & Touche to continue serving the employers who have more than 1,000 employees along with the responsibility and needs for IT issues of complex client/server transactions. While Intacct will serve the middle range of businesses with 100 to 1,000 employees with features such as audit management, analysis, sample selections and confirmations and information sharing with one of the top CPA firms in the country. This means possible savings to their clients’ companies of $50,000.00 to $150,000.00 dollars in software required to get the job done.
While Deloitte & Touche currently sells the software products to the majority of clients with a strong customer support system available for trouble shooting, this sometimes requires shipments of CD’s, manuals, the expense of customer support that more Internet use may cut down on. Sites with interactive programming and ability to work on the taxes to the last minute, of the last hour of the last day will allow D&T to cater to the human nature surviving in the business world.
As NationTax.com comes closer in the running, Deloitte & Touche stays ahead, aware that legislation and movements towards paper reduction will force even the most hesitant to follow the trend of e-filing.
It is to their credit to help a smaller company help fill the need. Let’s just hope they don’t snuff the company and buy them out, like the now gone FDSI of Agoura, California. I like to see the smaller companies survive and prosper. I believe they tend to give back more to the communities which encouraged their fledgling growth.
NetLedger, Inc, San Mateo, California, targets the businesses they pioneered web-based accounting for, companies with employee counts of up to 100. Thier July, 2000, edition was scheduled to be released with payroll, while they try to calculate how to add multi currency capability as part of their expansion into Europe. They continue to educate and help the smaller businesses deal more securely with their data and cut down on losses due to lack of back ups, poor power sourcing.
One of the newest kids on the block, started in California, and providing their services in Spanish, as well as moving into other states, as soon as they are able, is, efile.com.
© J. Deborah Coss