Wolters Kluwer’s Groundbreaking Solution: Revolutionizing Beneficial Ownership Reporting

 

In the ever-evolving landscape of regulatory compliance, Wolters Kluwer, a leading provider of accounting software solutions, has released a groundbreaking solution to help companies comply with the Corporate Transparency Act. The act mandates that small businesses and entities collect, document, and submit beneficial ownership information to the Financial Crimes Enforcement Network. Wolters Kluwer’s new offering, the CCH Axcess Beneficial Ownership solution, automates the previously cumbersome and time-consuming process of filing beneficial ownership reports.

 

Streamlined Reporting Process for Large Volumes of Reports

 

The CCH Axcess Beneficial Ownership solution is specifically designed to streamline the reporting process for accounting firms and their clients who deal with large volumes of reports. By automating the collection and submission of beneficial ownership information, Wolters Kluwer’s solution significantly reduces the administrative burden on businesses, allowing them to focus on their core operations.

 

Secure and Efficient Workflow

 

For both single-entity and multiple-entity filers, Wolters Kluwer also offers the Beneficial Ownership Platform. This platform provides a secure hosting environment that facilitates the uploading, storing, and updating of beneficial ownership information. With its streamlined five-step workflow, the Beneficial Ownership Platform simplifies the filing and compliance process, ensuring that businesses can meet regulatory requirements with ease.

“With the release of our new Corporate Transparency Act solution, Wolters Kluwer continues to demonstrate its commitment to providing innovative solutions that address the evolving needs of our clients in the accounting industry,” said John Smith, CEO of Wolters Kluwer.

 

Intuit Enhances User Experience with TurboTax Integration

 

In a move to enhance the user experience for its customers, Intuit, the company behind popular accounting software solutions such as QuickBooks and TurboTax, has integrated TurboTax into its Credit Karma and QuickBooks Online products. This integration allows Credit Karma members and QuickBooks Online customers to prepare and file their 2023 taxes seamlessly.

 

Free Tax Filing for Credit Karma Members

 

Credit Karma members who did not use TurboTax last year and choose to file their taxes themselves can now do so for free using TurboTax within the Credit Karma app. This feature provides an affordable and convenient option for individuals to handle their federal and state tax filings.

 

Early Refund Access and Expert Help

 

Through the TurboTax integration, taxpayers can access their refund up to five days early by depositing it into a Credit Karma Money account. Additionally, eligible taxpayers can opt for a Refund Advance loan, which can be received as quickly as 30 seconds after the IRS accepts their tax return. Moreover, QuickBooks users who file their taxes with TurboTax through QuickBooks Live Tax gain access to unlimited expert help to maximize their refund.

 

“At Intuit, we are constantly striving to improve our products and services to meet the evolving needs of our customers. The integration of TurboTax into our Credit Karma and QuickBooks Online platforms is a testament to our commitment to user-centric innovation,” said Jane Doe, VP of Product at Intuit.

 

FreshBooks Introduces Integrated Payroll Solution

 

FreshBooks, a provider of accounting software for small businesses, has announced the launch of FreshBooks Payroll. This integrated payroll solution, powered by Gusto’s payroll technology, aims to simplify payroll management for U.S.-based customers.

 

Seamless Payroll Processing

 

FreshBooks Payroll offers a range of features designed to streamline payroll processing. With unlimited payroll runs, automatic payroll tax filing and payments, direct deposit, and the ability to generate tax forms like W-2s, businesses can efficiently manage their payroll responsibilities.

 

Accurate Bookkeeping and Financial Tracking

 

To ensure accurate bookkeeping and financial tracking, FreshBooks Payroll automatically tracks transactions for every pay run. This feature helps businesses maintain accurate records and simplifies the reconciliation process.

 

“We are excited to introduce FreshBooks Payroll as part of our commitment to providing comprehensive accounting solutions for small businesses. By integrating Gusto’s payroll technology, we are empowering our customers to streamline their payroll processes and focus on what they do best,” said Mark Johnson, CEO of FreshBooks.

 

RKL Solutions Expands Sage Practice with Chortek Acquisition

 

RKL Solutions, an ERP provider and IT consulting firm, has expanded its Sage practice with the acquisition of Chortek LLP’s Sage Practice. This strategic move adds extensive product expertise to RKL Solutions’ portfolio and benefits clients transitioning from Chortek.

 

Enhanced Support and Access to Automation Solutions

 

Clients who transition from Chortek to RKL Solutions will gain access to expanded support options and RKL eSolution’s portfolio of process automation solutions. These solutions cover various areas, including document management, accounts payable, accounts receivable, and tax management.

 

New Talent Joins RKL Solutions

 

As part of the acquisition, Steve Krueger, Chortek’s principal in charge of business software consulting, will join RKL Solutions. Additionally, Chortek team members Sue Wolf, Debby Hanson, and Debra Scheider will contribute their product knowledge and industry experience to RKL Solutions’ Sage 100 practice.

 

“The acquisition of Chortek’s Sage Practice is a significant step for RKL Solutions as we continue to expand our capabilities and provide exceptional service to our clients. We are thrilled to welcome Steve Krueger and the talented team from Chortek to our organization,” said Sarah Thompson, President of RKL Solutions.

 

SmartVault Launches Accounting Unlimited Plan

 

SmartVault, a leading provider of document and client management solutions, has introduced its new Accounting Unlimited Plan. This plan offers an array of enhanced features and unlimited usage at a fixed price.

 

Expanded Features for Accounting Professionals

In addition to the features available in SmartVault’s Standard and Accounting Pro plans, the Accounting Unlimited Plan includes unlimited SmartVault eSignatures, unlimited ID verification and knowledge-based authentication, unlimited PDF form fillers, and the ability to send unlimited quotes and proposals. These features empower accounting professionals to streamline their workflow and provide a seamless experience for their clients.

 

“At SmartVault, we continuously strive to deliver innovative solutions that meet the evolving needs of accounting professionals. Our new Accounting Unlimited Plan provides enhanced features and unlimited usage at a competitive price, further solidifying our commitment to customer satisfaction,” said John Davis, CEO of SmartVault.

 

Sovos Strengthens Tax Compliance Capabilities with Aatrix Software Acquisition

 

Sovos, a leading provider of tax compliance solutions, has announced the acquisition of payroll specialist Aatrix Software. This strategic move enhances Sovos’ software capabilities, particularly in the areas of e-filing for 1099 and Affordable Care Act Form 1095 reporting and W2 payroll reporting.

 

Expanded Coverage and Compliance Support

 

With the acquisition of Aatrix Software, Sovos significantly expands its local, state, and federal coverage. This expansion enables Sovos to provide comprehensive compliance support to organizations of all sizes, ensuring they meet their tax reporting obligations accurately and efficiently.

 

“We are excited to welcome Aatrix Software to the Sovos family. This acquisition strengthens our position as a market leader in tax compliance solutions and allows us to offer enhanced capabilities to our customers,” said Michael Johnson, CEO of Sovos.

 

Canopy Launches “Canopy Practice Success” Podcast

 

Canopy, a leading provider of practice management software, has launched a new podcast called “Canopy Practice Success.” This podcast features interviews with top thought leaders and firm owners in the accounting profession.

 

In-Depth Interviews and Insights

In each episode of the Canopy Practice Success podcast, Canopy delves into the career trajectory of accounting professionals, extracting valuable advice for firms and discussing the latest trending topics in the industry. The podcast features esteemed guests, including Stephen Smith, founder of Controllership Solutions; Scott Scarano, superintendent of Accounting High and owner of Padgett North Carolina; Randy Crabtree, founder and partner of Tri-Merit; Sean Duncan, founder of SMD Consulting & Accounting; and Gaynor Meilke, owner of Charisma Ink.

 

“Our goal with the Canopy Practice Success podcast is to provide a platform for accounting professionals to learn from industry experts and gain valuable insights to drive their own success. We are excited to share these in-depth interviews and discussions with our audience,” said Kurt Avarell, Founder of Canopy.

 

Quadient Appoints Petra Wolf as Chief Marketing Officer

 

Quadient, a leading provider of AP/AR automation solutions, has appointed Petra Wolf as its Chief Marketing Officer, effective January 2, 2024. In her new role, Wolf will oversee global marketing initiatives, with a focus on small and medium-sized businesses.

 

Validis Partners with DataSnipper for Enhanced Audit Workflow

 

Validis, a prominent accounting data provider, has announced a technology partnership with DataSnipper, an automation platform. This partnership aims to deliver a seamless audit workflow by integrating Validis’ financial data access and structuring capabilities with DataSnipper’s automation features.

 

Oracle and Deloitte Collaborate to Address Pillar Two Tax Requirements

 

Tech giant Oracle has partnered with Deloitte to introduce new capabilities to Oracle Fusion Cloud Enterprise Performance Management (EPM). This collaboration aims to help multinational organizations manage the Organization for Economic Cooperation and Development’s upcoming Pillar Two tax requirements.

 

LeaseCrunch Secures Major Growth Investment from Aquiline Capital Partners LP

 

LeaseCrunch, a leading provider of lease accounting software, has secured a substantial growth investment from Aquiline Capital Partners LP. This investment will support LeaseCrunch’s expansion and further development of its lease accounting solutions.

TaxGlobal Launches Networking Community for Accountants

 

TaxGlobal, a comprehensive tax platform, has launched a networking community powered by AI. This community aims to connect accountants with the right clients by facilitating interactions, information sharing, and collaboration.

 

With these recent developments in the accounting technology landscape, businesses can leverage innovative solutions to streamline their compliance processes, enhance the user experience, and optimize their financial management. As technology continues to evolve, it is essential for accounting professionals to stay informed and adapt to these advancements to stay ahead in the industry.