Motor Fuels Tax Minute, Episode 93: How to Choose Software
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In this episode of Motor Fuels Tax Minute, our hosts continue their six-part series about tax software. Listen in to learn about how to choose the best software for you.
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Detailed Description of Weaver’s Motor Fuels Tax Minute, Episode 93
00:00:00
Leanne: Welcome to Weaver’s Motor Fuels Tax Minute, the vlog where we talk all things motor fuel.
I’m still kind of hung up on this software question. And Kelly still has lots to say. So, I now understand why I need tax software. I need it so I can file my tax returns with so few being paper nowadays.
So how do I choose which software? Is there just one out there? Or are there many that I have to think about?
00:00:22
Kelly: There are a lot of great options out there nowadays. I know when I started there was like one or two. That has expanded. They have developed a lot of great stuff. I’ve been seeing a lot of exciting things coming out of that. But going back to your question, how do you choose?
Well, let’s be honest, the number one driving factor is going to be budget. Budget matters. What your company is willing to pay for and what the software is priced at, that could be your starting point, but I would not let it limit you because there are plenty of arguments that can be made to get a software that maybe does more because you need it, even if it costs more.
So, things to think about, the number one thing to think about is your future business. Don’t just implement a software like we talked about last time. It’s easy to rush into it. You all of a sudden figure out that you need an EDI. You don’t know what to do. You grab one, now you have a software that, I don’t want to say you’re stuck with because of different contract terms, but you’re kind of stuck with. So don’t think about the now, think about the future and try to choose based on that future so you don’t have to go through another software implementation.
Another thing to keep in mind is where do you want to do your data cleanup? I’ve seen lots of softwares. They all have pluses and minuses. They all fit beautifully into different company structures. But you need to decide, do you want to clean data going in, which means more work for your group, but if you have a strong IT and tax group, that’s where you want that work happening. Or do you want the software to do the majority of the cleanup? That might cost more, but it takes a lot of pressure off of your tax team.
Also, think about and be honest about what kind of data you have. I cannot even tell you how many times the company has told me they have clean, beautiful data. Everything runs smoothly. Next thing I know, there are key fields missing. We can’t do anything with it. We’re trying to clean it up. If you’re honest from the beginning and you understand your data, then you can pick a software that fits you, and you can identify those gaps and figure out how the software can help you and your team.
So, I’m definitely going to dive a little bit more into this on our next episode. But I know we like to keep these a little bit short, so I will wrap this one up.
00:02:26
Leanne: No, and that was lots of great information. And you know what? For all of the software providers watching this, we are completely software-neutral at Weaver. We don’t have any preferred software providers. If you are a software provider, if you’re watching this, feel free to comment. Maybe tell us what we’re seeing is right and if there’s anything that’s wrong.
And that was this week’s Motor Fuels Tax Minute.
