The use of the latest accounting software could be the best way to ensure accurate and fair financial results – and avoid becoming a victim of three new campaigns launched by HM Revenue and Customs (HMRC).

Small businesses and individuals who fail to submit tax returns or pay the wrong amount will be targeted by the body.

One campaign will be launched imminently with two more to follow later in the year and each will focus on different areas of possible tax avoidance.

Missing returns will be the primary objective of HMRC, before those in the home improvement and direct selling trades are put under the microscope.

Marian Wilson, of HMRC’s Risk and Intelligence, said the department is using new technology to close in on any bosses who may not be paying the right tax – something accounting software can help to avoid.

The Bristol Evening Post recently told how local firm Smith & Williamson had offered to lend its accounting expertise to the Bristol City Community Trust in order to ensure its finances add up in the future.

Source:http://www.codestone.net/news/story/accounting-software-could-help-to-keep-hmrc-at-bay/801288618/

Outsourcing firms could turn to accounting software in a bid to increase efficiency as demand for their services grows.

The Confederation of Indian Industry has found that there is likely to be a rise in the amount of work particular sectors outsource in the Asian nation over the coming months and years, reported Business Standard.

It predicted the south of the country will witness a 15 per cent expansion in the near future, with many firms focusing on quality rather than quantity.

In the selected states, approximately ten million people – or 22 per cent of the workforce – are employed in outsourced positions in certain sectors.

These are named as the banking and finance market, government departments and retail among others, all of which could benefit from the use of accounting software.

Another benefit of accounting software is its potential to assist companies in compiling fair and accurate audit reports, avoiding scandals such as that involving Olympus, which was revealed recently.

Source:http://www.codestone.net/news/story/accounting-software-to-aid-finance-outsourcing-growth/801251538/

Small and medium-sized auditing firms may wish to consider an investment in accounting software, should they hold ambitions of ever securing the industry’s largest contracts.

Leaders of several mid-sized companies in the field have spoken to the Financial Times about the need for reform.

They have urged European Union internal market commissioner Michel Barnier to go through with plans to force huge organisations to share accounting work with smaller rivals.

Currently, the majority of larger audits are completed by the “big four” – KPMG, PricewaterhouseCoopers, Deloitte and Ernst & Young.

Jean Stephens, chief executive of RSM International, said it is vital that proposals to spread the workload are not “watered down” and that Mr Barnier sticks to his initial brief.

Michael Andrew, chairman of KPMG, speaking at the Foreign Correspondents’ Club in Hong Kong, last week suggested there are ten steps that can help the accounting sector get back on track following the Olympus fraud scandal.

Source:http://www.codestone.net/news/story/could-investment-in-accounting-software-help-smaller-firms-win-large-contra/801222728/

Avalara, the market leader in automated, up-to-date sales and use tax compliance solutions, announces the appointment of Pascal Van Dooren as Executive VP, Sales & Marketing, starting Oct. 5. Van Dooren is a seasoned veteran in the software industry, having held high level executive sales positions at Sage, Epicor Software, CapitalStream, and others. In addition to proven sales and marketing leadership, he brings a strong global perspective gained during years of running international sales organizations.

Avalara’s hiring of Van Dooren is part of a stepped-up commitment to compounding the Software as a Service firm’s powerful growth trends enjoyed since its founding in 2004. The company received major new backing from the investment firm Sageview Capital LP earlier this year, and much of that investment has been directed toward accelerated sales and revenue growth.

“Coming as he does from Sage – one of the most successful software enterprises in the world – Pascal dramatically raises our profile in this industry and solidifies our position as the leader in sales tax automation,” said Scott McFarlane, CEO and co-founder of Avalara. “Sage is one of our closest industry partners and we hold them in the highest regard,” he continued. “We firmly believe that Pascal will bring us a measure of success similar to what he accomplished at Sage. In addition to accelerated new business growth across our organization, I expect the relationship between our companies to further blossom moving forward.”

“I embark on this next phase with great excitement about the opportunity ahead,” Van Dooren said, “While I will miss my friends and colleagues at Sage, I really look forward to continuing to work with everyone there as we move forward together in our partnership.”

Van Dooren takes over a rapidly expanding sales and marketing team charged with continuing and accelerating the company’s dynamic growth, which last year landed it on both Inc. Magazine’s 500 fastest growing list and Deloitte’s “Fast 500” listing of technology firms. “Avalara is at the center of a sea change in American and international approaches to sales tax management,” Van Dooren concluded. “Today we see that almost every business is or will be impacted over time. Avalara is leading the way in addressing this change, and is strategically positioned to continue to help in the future. As the SaaS revolution accelerates into the mainstream of U.S. business, I am excited to join Avalara, the leader in sales tax automation.”

Source:http://eon.businesswire.com/news/eon/20110921006713/en/sales-tax-automation/Avalara/Sage

Outright is running a promotion that lets Etsy sellers try its accounting software for free through the end of the year. Outright helps entrepreneurs and sole proprietors track all of their income and expenses so they can operate more efficiently, and helps them organize their data for tax preparation.

The company targets small online sellers and integrates with eBay, PayPal, ecommerce accounts, and bank and credit card accounts, and is also integrated with the Etsy marketplace. Outright gives online sellers instant access to an understandable, up-to-date picture of their business, from which products are bringing in the most money, to what items are most profitable to make.

“It’s great that Outright gives Etsy sellers an overview of their business in a simple, easy-to-grasp way,” said Liz Wald, Etsy Director of International Business Development. Outright breaks down Etsy sellers’ listing, transaction and renewal fees for easy tracking and pulls in all of their other online information. It automatically organizes all the accounts in one place, with no manual entry, helping online sellers easily stay on top of sales, expenses and taxes, including monthly sales, quarterly estimated and annual income taxes.

Outright CEO Steven Aldrich said, “Outright handles all of the hard work on the business side, so crafters can spend their energy on what doing what they love.”

Outright presented Finance 101 classes in Brooklyn, Washington D.C., Portland, Los Angeles and San Francisco at the Hello Etsy Conference, a summit on small business and sustainability held over the weekeknd.

Source:http://www.auctionbytes.com/cab/cab/abn/y11/m09/i19/s02