Assignment: Inventory and Bookkeeping

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Assignment: Inventory and Bookkeeping

Assignment: Inventory and Bookkeeping

This report recommends the implementation of TurboTax, an accounting application used

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for preparing and filing personal income tax returns and tax returns for sole proprietors of small

businesses. Out of all the apps researched, TurboTax makes the most sense for our company as

all of the other apps focus on inventory and bookkeeping whereas we already have a system for

that. TurboTax will save us time and money and help increase efficiency and productivity.

TurboTax is easy to use, greatly functional, and decently priced. With TurboTax, clients who

have simple tax returns will be offered a new service where they use TurboTax to complete their

tax returns and one of our accountants will double-check the tax return for errors and file it

electronically. This will save us time and money and will also allow us to gain more clients. For

those who still want to meet in-person with an accountant, our employees can use TurboTax to

speed up the process and provide a basis for the tax return preparation. The implementation

process will last approximately one year to guarantee that everything is done properly and

successful. The implementing process will include the following steps: programming, selecting

clients for a test trial, the trial, fixing problems, advertising and launching. During the test trial,

management will take notes on how effective the new system is. Clients and employees will also

be asked to take a survey evaluating the app to ensure that everything is as hoped.
TurboTax Recommendation 1

Introduction

According to Kaye & Nicholson, the initial awareness of information technologies in the

accounting profession took place in the mid 1980s. Not everyone was fond of the advancement,

as there was a wide array of reactions (1992, p. 105). Technology is a huge part of the

accounting world and is constantly evolving. With recent development, accountants are able to

use applications to involve their clients in the process.

Accountants can now focus only on the accounting portion of their jobs and leave the

bookkeeping to the software that does the data-entry process for them. Programs have import

functions that connect to clients’ online banking and perform the coding and data-entry for the

accountant. Accountants then use the technology to prepare financial statements. Once done, the

accountant is able to securely send the information to the client via client portals; thus,

terminating the use of paper and providing the client with instant access to all statements

prepared

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