Joined: 25 May 2008 Location: United States
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Posted: 09 Jul 2008 at 10:33 | IP Logged
Does anyone use Thomson Tax and Accounting Software? If you do can you tell me your thoughts on how the write up and tax programs are. I was also wondering how much this package costs.
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Joined: 08 Jun 2008
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Posted: 10 Jul 2008 at 19:35 | IP Logged
I'm not sure if this is what you're looking for, but my firm uses PPC (Thomson based software) for our audits and Tax & A&A research. We use Lacerte for tax preparation. Thomson put out a program called SMART e-tools that helps with Audit planning. It is a great software to ensure that all of the planning requirements are met in case you receive a peer review. The software also helps to generate basic audit programs which you can customeze to fit the needs of your audit. The software uses information from planning to generate the audit programs so that you can ensure all relative assertions are covered. With the program you also get many checklists (i.e. review & compilation procedure checklists, disclosure checklists, IC checklists, etc.) that can be used for audits, reviews, compilations, PFS, and agreed upon procedure engagements. The software is great for paperless and paper engagements, because all of the forms can be printed out or stored in DMS (a Lacerte program). I think our firm pays about $1,500 -2,000 for the research and SMART e-tools licenses. I hope this helps.
Joined: 27 Jun 2009
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Posted: 27 Jun 2009 at 08:11 | IP Logged
I use most of the Thomson Products. I would have to say that they are one of the top of the line accounting and tax software companies. The products are expensive and the only way to get up to speed and using the programs properly is to get training which of course you have to pay for. While I believe they have a good product, it has and still is costing me a lot of money and time to get it working the way it was intended.
Joined: 25 May 2008 Location: United States
Online Status: Offline Posts: 57
Posted: 14 Dec 2009 at 09:04 | IP Logged
We have been using creative solutions software for our accounting for a couple of months now and it is very nice. There has been a learning curve involved but it is much better than the EssyAcct and Quickbooks programs we have been using. We also started experimenting with UltraTax in preparation for tax season and it is also very impressive. We used ProSeries in the past and UltraTax finds errors that Proseries did not pick up on.
The software is pretty expensive, but worth it if you have enough economies of scale to support the cost. We got the tax, accounting, payroll, fixed assets, and file cabinet and it ran around 18K. This will go down in subsequent years to about 11K or 12K. Most of the cost is for the tax software which runs about 10K. If you want a more detailed breakdown of the cost... let me know. Its expensive, but there are some improved efficiencies and better service that can be gained. If you have a larger volume of clients I think it is well worth the added expense.
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Topic: Thomson Tax & Accounting Software
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