What would it mean for tax professionals to boost their tax preparation time by 75 per cent?
Wolters Kluwer Tax & Accounting, a provider of software and tax expertise, has recently rolled out the CCH iFirm Tax software, its cloud-based software specially designed for accountants, bookkeepers, and tax professionals.
What caught the attention of some of its early users is the software’s speed.
“With the CRA import function, we can be certain we have all the data we need…and we can complete our work in 75 per cent less time,” said Devon Dykstra, co-founder of Ivory Planning Group, a personal and corporate wealth planning group in B.C.
The iFirm allows tax professionals to rapidly import their client data to the Canadian Revenue Agency’s database with the use of an auto-fill tax return function.
“I’m completing returns in about a third of the time it used to take, so I’m looking at taking on new clients and expanding my practice,” according to Gabrielle Adams, principal at Accounting Co Online, an accounting firm in Oro-Medonte, Ont.
The cloud-based platform also means no software needs to be installed on their machines. Software updates are pushed out in real-time. Client data is also secured and always backed-up with Canadian hosting firms, said Frans Klaassen, executive vice-president and general manager of Wolters Kluwer Tax & Accounting North America, Canada.
These features significantly lower cost of ownership, he said.
“CCH iFirm Tax is uniquely positioned to address the needs of tax professionals who appreciate all that the cloud has to offer,” said Klaassen. “Firms of the future are becoming more digital. They are embracing the cloud for its flexibility, efficiency, and agility, to enable them to better meet their clients’ expectations.”