DALLAS, Sept. 11, 2019 /PRNewswire/ -- The BaCo Group PLLC (a Dallas CPA firm) announced their patent application for their cloud-based platform, BaCo Tech. Developed in-house by Ford Baker, CEO, specifically for enterprises with multiple entities and complex reporting requirements, BaCo Tech integrates client accounting directly into a CPA's workflow. It automates year-end processes for CPAs while giving clients access to accounting assistance and enterprise level online financial reporting.
BaCo Tech, currently available through the BaCo Group, integrates with most accounting solutions, from QuickBooks Desktop/Online to more robust ERPs. BaCo Tech's customizable Benchmark Center automatically delivers consolidated or stand-alone drill-down reporting/analysis, compliance certification, and tax forecasting to shareholders, investors and lenders periods marked final in BaCo Tech.
CPAs, controllers and bookkeepers benefit from a Command Center that identifies potential errors or omissions, current accounting needs like asset additions and opportunities for tax advisories. From there adjustments are posted (or proposed), non-deductible transactions are tracked, depreciation schedules are updated and focused communications between client and CPA are initiated. All within a web-based environment without opening the accounting/ERP solution, tax compliance software, Excel or Outlook.
Advanced algorithms, developed exclusively for BaCo Tech, convert current year book income to taxable income by identifying tax-significant transactions and prompting tax-preparer action. This drastically reduces the time required to prepare returns at year-end as these actions and adjustments are posted throughout the year.
Current year accounting activity is updated daily, eliminating the compiling and sending of year-end reports by clients. Ford Baker explains, "BaCo Tech breaks the cycle of CPAs working solely on the prior year. We extend returns by April, scramble to finalize by October and can't focus on the current year until basically Thanksgiving leaving us a month for current year consulting, the service clients want most." Baker continues, "Ending that last year cycle means happier clients and happier accountants, something we've all been searching for."
BaCo Tech revolutionizes current financial and tax reporting by facilitating the flow of real-time financial information by efficiently processing current year transactions and streamlining ongoing current year financial communications for their audit, tax and consulting clientele.
For more information visit bacogroup.com/BaCo Tech
SOURCE BaCo Group