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• W6179106 abstract "When inexpensive accounting programs first came on the market a few years ago, many CPAs dismissed them as useless computer toys. Indeed, many of the early versions were technically flawed and certainly not sufficiently robust to replace an accountant--let alone a bookkeeper. Despite these shortcomings, small business owners embraced the products, creating a fast-growing niche market. Vendors responded by powerfully upgrading the programs, boosting their accounting expertise, practicality and user friendliness--and keeping prices low. Today, many CPAs no longer dismiss the products. They are recognizing that these once-overlooked programs have become serious competitors as an increasing number of small businesses discontinue some traditional accounting engagements--bookkeeping and quarterly compilations, for example--and use the new software to do the jobs instead. As one client explained the move to his CPA, package cost less than $100, and it says right on the box that anyone can run this program--no knowledge of computers or accounting is required. The claim--that no knowledge of computers or accounting is required--is not always correct. Therein lies the opportunity. While the less sophisticated products do no more than replace the familiar shoe box, the better ones reviewed below are powerful enough to perform many accounting tasks--as long as they are properly installed (which in most cases means with the guidance of an experienced accountant). Some automate payroll and inventory-control functions and even perform financial analyses. But as useful as these programs are, they also have major drawbacks: They create serious problems for some users because their formats are not always consistent with conventional accounting practices. Solving such problems opens a door of opportunity for CPAs. Instead of trying to fend off these competitors, CPAs are better off embracing them--that is, suggesting clients use them with professional assistance. In effect, doing so can turn a threat into a source of new business. This article tells how firms can position themselves to pursue such a strategy and how to select the right entry-level package for selected clients. CHALLENGE AND OPPORTUNITY Before a CPA firm can turn low-end software into a source of new business, it must check out the products available. CPA firms need to know the programs' strengths and weaknesses and how to match their features with client needs. In addition, firms need to market this expertise so clients know they can turn to their CPAs when they want to do their own bookkeeping. CPAs unwilling to acquire expertise in this expanding business area, or who do not let clients know about their own competence, probably will lose not only current bookkeeping business but also the opportunity to provide potentially high-level client services. Unfortunately, many clients hesitate to seek their CPA's advice because they perceive a conflict of interest--the CPA's fear of losing their business. One strategy CPAs can use to overcome this perception is to emphasize that while some programs are excellent, a CPA's knowledge and experience are needed to determine which is best and how to configure and use it effectively. Firms that serve small businesses should plan to support at least two types of entry-level programs--one for DOS and the other for Windows. Many clients will acquire a Windows-based package rather than a DOS product because Windows products are easier to use and have better graphics. Indeed, the Windows segment of this market is growing at three times the rate of the DOS segment. For some CPAs, clients' preference for a Windows product presents a problem because CPAs are more comfortable in a DOS environment and resist learning the Windows interface. Regardless of preferences, much of the new software is available only in Windows. So, like it or not, CPAs will have little choice but to learn Windows if they want this new business. …" @default.
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• W6179106 title "Entry-Level Software: Friend or Foe? Installing and Supporting the Programs Are Ways to Generate New Business" @default.
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