Estimated reading time: 1 minute, 45 seconds

John Hewitt, Liberty Tax Liberty Tax has reached an agreement with online vendor Kashoo to privately label that company's software for its tax customers. As part of a test program, the application will be offered as a recommended product for franchisees under the name Liberty Accounting, according to CEO John Hewitt.

Hewitt made his comments this week as Liberty held its earnings webcast for the first quarter ended July 31."We are testing an accounting package that our franchises can used to provide small business bookkeeping services," Hewitt said.

The deal does not seek to "get us more more small business accounting," Hewitt said. "It allows our customers to input their data into an accounting system that will be transitioned right into our tax software."

This is the second deal Kashoo has struck to make its product available through other companies. In October, it reached a deal with Paychex, which made an equity investment in Kashoo. As a result, Paychex Online Accounting is being offered to the payroll company's customers.

For Liberty, the first quarter produces a low-level of revenue since it is outside of the tax season. The company lost $8.4 million for the most recently ended period, up from $5.9 million a year earlier.

The company's loss was decreased by a tax benefit of $5.7 million, compared to $3.7 million in last year's corresponding period. First-quarter revenue was $7.8 million, down 2.8 percent from $8.1 million a year earlier.

Bob Scott
Bob Scott has provided information to the tax and accounting community since 1991, first as technology editor of Accounting Today, and from 1997 through 2009 as editor of its sister publication, Accounting Technology. He is known throughout the industry for his depth of knowledge and for his high journalistic standards.  Scott has made frequent appearances as a speaker, moderator and panelist and events serving tax and accounting professionals. He  has a strong background in computer journalism as an editor with two former trade publications, Computer+Software News and MIS Week and spent several years with weekly and daily newspapers in Morris County New Jersey prior to that.  A graduate of Indiana University with a degree in journalism, Bob is a native of Madison, Ind
Last modified on Friday, 29 August 2014
Read 3572 times
Rate this item
(0 votes)

Visit other PMG Sites:

click me
PMG360 is committed to protecting the privacy of the personal data we collect from our subscribers/agents/customers/exhibitors and sponsors. On May 25th, the European's GDPR policy will be enforced. Nothing is changing about your current settings or how your information is processed, however, we have made a few changes. We have updated our Privacy Policy and Cookie Policy to make it easier for you to understand what information we collect, how and why we collect it.
Ok Decline