The latest round of findings revealed that 53 per cent of respondents consider dealing with taxes as a significant area of business management
(PRWEB) February 29, 2012
Aatrix Software, Inc., a leading W-2 eFile provider announced their intentions to expand the services currently offered to Canadian businesses. These plans include offering plain paper printing and eFiling of provincial forms in addition to the nationwide forms currently available.
Aatrix supports all state and federal Payroll Reporting Forms in the US, including US territories. Aatrix provides plain paper printing, eFiling, and compliance services for State and Federal W2s, 1099s, Unemployment, New Hire, and Withholding Reports and payments currently available to more than 200,000 businesses as a fully integrated OEM product within their payroll software. Aatrix is currently partnered with more than two dozen payroll solutions.
Recent Sage survey reveals the need
The latest round of findings revealed that 53 per cent of respondents consider dealing with taxes as a significant area of business management, followed by managing sales and marketing (27%) and managing the finances of the business (26%). … The survey found that those with smaller businesses are more concerned than larger businesses with income tax compliance (35% versus 10%).
“The fact that more than half of the respondents view taxes as an area of weakness is understandable as regulations are complex and many Canadian small business owners have not been formally trained on tax codes,” said Nancy Harris, vice president and general manager at Sage Simply Accounting. “With all the changes in compliance rules and government regulations, such as the Employment Insurance (EI) and Canadian Pension Plan (CPP) payroll tax hikes for this year, seeking the assistance of a professional or using accounting software can help Canadian business owners not only save time, but also succeed in facing these new compliance challenges.”
Other highlights of the Sage-Angus Reid small business survey include:
- To stay on top of updated rules and regulations, 47 per cent of small business owners said they utilize professional services, while 27 per cent use government websites or phone lines.
- More financially literate small business owners – those who have identified the single cost that has the largest impact on their business – are more likely to use accounting software to stay current on rules and regulations, while those with larger businesses are more likely to consult with professional services.
- When it comes to financial knowledge, respondents cited EI/CPP compliance (18%) and tax payments (14%) as the financial management areas they know the least about. However, when these results are compared to those of the 2009 survey, small business owners are more likely to state that they know everything they need to know about EI/CPP compliance (32% versus 27%) and tax payments (32% versus 24%).
The survey was conducted May 17-23, 2011 and its results have a margin of error of plus or minus 4.4%, 19 times out of 20.
The Aatrix solution is a fully integrated solution with over two dozen accounting solutions, including some of the most popular Canadian solutions. Simply put it has three dramatic advantages over the use of the out-sourced services or agency sites: simplicity, accuracy, and efficiency.
- One account to eFile and track all reports and payments
- eFiling is completed within the payroll solution without additional exports,
typing, and logging into multiple sites
- Reports are completed using the data within the payroll solution
- Reports are filled in automatically with no need for manual transcribing
- Reports are time-stamped and saved on the customers machine and
accessible anytime for review or as an audit trail
- Aatrix compliance services guarantee compliance with all legislation, eFile requirements, and form changes
- The interface is very simple. Choose a form, review it onscreen, and click eFile.
Aatrix goes to the source
Aatrix intends to go to the source of this need to develop a solution that is focused and efficient. Aatrix has plans to conduct a series of focus groups with Canadian businesses through two channels.
Aatrix will conduct surveys of Canadian customers of their current partners to determined the reports and payments they would deem “business critical”
Aatrix’s Compliance Group will research the most complicated and most used forms through inquiries to provincial and federal agencies.
Aatrix anticipates that as many as 40 new forms will be available by the end of 2012. New forms will begin to be released in time for second quarter filing.
Aatrix Software, Inc.
Located in Grand Forks, ND, Aatrix Software has been developing innovative accounting software solutions since 1987. Originally founded to develop Macintosh accounting and payroll applications, Aatrix's Electronic Forms Division has established itself as a leader in payroll tax forms for Windows®. Aatrix provides Electronic Payroll Reports and eFiling for Windows® accounting software. Aatrix's finance software has received numerous awards, including Software Digest’s highest overall rating and Home Office Computing Editor’s Pick.
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