Virtual Accounting Firm a Reality?? You tell me ...
Ric Foxall
A short while ago there was discussion in this group about providing
accounting services over the Internet. A real "virtual office" that would
allow firms to compete profitably in broader markets and for higher fees.
I have invested considerable time and $$$ into creating that office and
putting it into a secure environment. It exists! {see www.foxall.com} Any
accounting/tax practitioner can use it to provide both basic accounting and
personal tax preparation (Canadian) services over the Web and under their
own letterhead.
I created these applications because ...
(a) I have been providing accounting/tax services since 1985 - it is
b-o-r-i-n-g - the web presented a challenge ...
(b) the proliferation of PCs and low end accounting/tax software - not to
mention "Basement Betty/Bob" - during the past 13 years has made it
increasingly difficult to compete (profitably) for monthly bookkeeping
assignments, year ends, and tax returns - I wanted an edge ...
(c) in many cases the work I am getting is based on in-adequate computerized
systems operated by in-experienced people with in-sufficient training - some
times it takes longer to fix the mistakes than it would to re-construct the
entire file from scratch - the result = high $$$ + an unhappy client - I
wanted control ... the ability to keep errors to a minimum and the cost both
profitable and competitive
The problem ... the virtual accounting/tax office (even with customizable,
idiot proof {grin} input documents, full encryption, anonymous data
transmission, and a fee schedule that is highly competitive) is a hard - v e
r y hard - sell ... the world (including participants in this and related
newsgroups) seems to be reluctant to accept this application of Web
technology.
You're the experts ... you tell me ... Why?
Thx
Todd Boyle
I've been considering your comments and reviewing your
site <www.foxall.com> all morning and here's my conclusion:
The site is awesome and you're doing a great proof of concept.
For some clients it looks like a reasonable solution today. For example I
have a restaurant client with remote ownership and some of the day and night
managers have not been reliable inputting the details of daily sales. It
would be perfect for that. The Web CPA could review the data daily, or
perhaps waiting for the cash register tape/deposit slips to arrive in the
mail, and post them.
But your product cannot be a mainstream solution until it has much more
functionality to the client site. Why would they use this service after a
taste of the reporting and AP.AR management in Quickbooks or Peachtree?
With your system, can they even get an aged payable list or month to date
P&L?
There are too many features, such as printing checks and printing invoices,
etc. which you cannot easily provide on the client site, customers take all
of these for granted :-(
What is your basic solution for the client site? Can you provide a client
software such as reporting database, or are you just providing the data
entry screens visible on your web site?
Thanks
TOdd
A.Sargent
Ric Foxall wrote:
> r y hard - sell ... the world (including participants in this and related
> newsgroups) seems to be reluctant to accept this application of Web
> technology.
>
> You're the experts ... you tell me ... Why?
Probably because folks do not trust an
"Internet-secure" environment.
--
Anna
--->> ICQ 13940096 <<---
http://home.att.net/~A.Sargent/
Ric Foxall
>The site is awesome and you're doing a great proof of concept.
Thanks! My ego thanks you too! Your beer's chilling down at the local.
>
>For some clients it looks like a reasonable solution today. For example I
>have a restaurant client with remote ownership and some of the day and
night
>managers have not been reliable inputting the details of daily sales. It
>would be perfect for that. The Web CPA could review the data daily, or
>perhaps waiting for the cash register tape/deposit slips to arrive in the
>mail, and post them.
This is exactly its' purpose or function ... a communication system
between client and accountant and/or between home & remote sites.
>
>
>But your product cannot be a mainstream solution until it has much more
>functionality to the client site. Why would they use this service after a
>taste of the reporting and AP.AR management in Quickbooks or Peachtree?
Which client ... the professional? ... the business client(end user)?
>With your system, can they even get an aged payable list or month to date
>P&L?
See above ... think communication system not software.
(1) In my mind (??) there is where the professional can reinforce positive
client relations/communication .... wouldn't it be better for the
professional to supply/provide/deliver these types of things "the old
fashioned way"?? ... or maybe hand deliver them personally?? ... if the
client gets this stuff online why does he/she need you/me?? ... why doesn't
he/she just use QB or some other "free standing" program??
(2) F/s etc could/can be posted back to the web ... but then the security
issue comes back into play. This was part of the original configuration that
I posted to the web but I "dis-connected" it because other people didn't
want this information accessible on the web *and too* you're getting back to
the "commodity/personal service" question. Should this perhaps be an option
that the accounting professional might choose to/not to provide his/her
clients??
>
>There are too many features, such as printing checks and printing invoices,
>etc. which you cannot easily provide on the client site, customers take all
>of these for granted :-(
Ya! For now :-| ... just have to figure out how to control the client's
printer.
>
>What is your basic solution for the client site?
The basic online configuration consists of:
- Sales / Cash Reconciliation Input Sheet
- Cash Disbursements/Paid Out Input Sheet
- Bank Deposit Input Sheet (option for 2 accounts)
- Cheque Disbursement Input Sheet (option 2 accounts)
But then it can be customized to meet specific needs.
>Can you provide a client
>software such as reporting database, or are you just providing the data
>entry screens visible on your web site?
Yes! Database functions can be provided. See "Business to Business" at
www.foxall.com for an example of the database capabilities. While you're
there add your own listing to the database.
I suggest that database functions and/or customized input documents be part
of an extended service package (more $$$) ;o). Also, the way the "gateway"
access is configured it is possible/viable to vary the complexity of the
online system to meet the general requirements of the professional. Client
specific requirements are handled when they login. So - you could get some
fairly complex configurations without too much work.
Because we're talking about the WWWait (to quote someone) there are some
limits however ... primarily the HTML documents have to be kept small ...
they have to load quickly ... I suppose it would be an idea to "test the
limits" but for now .... 15 different sales "accounts" ... 6 sales tax
"accounts" ... about a dozen "accounts" for each of cash reconcilitions and
bank deposits and about 50 or so different "accounts" for disbursements
Ric Foxall
r...@foxall.com
RScrogg562
Ric:
Accountants are very conservative as a group and that's why they are slow to
use the Internet for client processing . It requires us to get out of the
comfortable box that we have been in for so long.
If we don't, however, we will certainly lose out. Look--Intuit is already
processing payroll over the Internet, and they're about to start income tax
processing with TurboTax over the Internet (for low bracket taxpayers now).
Oh well, I guesss we could all become salesmen for QuickBooks, eh?
Todd wrote:
"But your product cannot be a mainstream solution until it has much more
functionality to the client site."
Functionality cannot arrive full-blown, Todd. It comes in bits and pieces.
If
we don't start somewhere, we'll never get anywhere.
Regards,
Robert W. Scroggins
A Texas CPA
RScro...@aol.com
http://members.aol.com/rscrogg562/index.html