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.