Whitebirch Software has released the latest version of its business planning, forecasting and budgeting software, Whitebirch Planning 7.0.

Users can extend the software's library of standard financial objects with business-specific logic. In addition, new line-item sets have been added that can automatically reference multiple line items for use in formulas and reports.

"Accounting firms can create their own library of objects," said Kel Hoffmann, president of Whitebirch Software.

One of the company's largest customers is Vitale Caturano, a large regional accounting firm based in Boston whose consulting practice creates budgets and does long-term planning for clients. Hoffmann said Whitebirch is also in the final stages of working out a relationship with another top accounting firm.

The software is object-based and Hoffmann said it allows firms to create different layers with what-if scenarios for planning purposes. Various layers can be turned on or off as needed. "We think of it as modeling software," said Hoffmann.

Users can add a line item for salary and wages, and see a listing of all the line items associated with salaries and wages, or based on all the hours worked per month.

Whitebirch sells the software via an application service provider model, or on a license basis starting at $1,500 per year. For more information, go to www.whitebirchsoftware.com.

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