Today's Technology for Tomorrow's Firm.
Issue link: https://cpapracticeadvisor.epubxp.com/i/58700
SALES & USE TAX Reviews For Your Firm TrustFile, an Avalara Company – TrustFile Sales & Use Tax 2012 OVERALL RATING BEST FIT Accounting fi rms or businesses with transactional tax reporting obligations to multiple states, with built-in e-fi ling capabilities for 12 supported states. STRENGTHS • Easy to use and learn • Built-in e-fi ling and online tracking/ acknowledgements • Ability to produce PDF copies for digital storage • Forms library for non-supported states • Multi-business management POTENTIAL LIMITATIONS • Each state fi ling program runs sepa- rately; no cross state integration • Document output only into print or PDF • Lacks client invoicing and communi- cation templates • Little integration with accounting systems TrustFile is an easy to use sales and use tax compliance system that sup- ports e-fi ling and electronic payment of remit ances. T e soſt ware can be used to manage multiple businesses and structured entities. T e program is actually 12 diff erent programs, each focused on the compliance require- ments for a diff erent state (CT, FL, GA, IL, KS, LA, MD, NJ, PA, SC, TN and WI). Avalara also off ers the separate TrustFile Forms Library, which houses more than 1,000 state and local forms available in PDF format, including forms for states not supported for e-fi ling. Avalara also off ers solutions for 877-222-0187 CONTINUED FROM PREVIOUS PAGE CCH, a Wolters Kluwer business – CCH CorpSystem Sales Tax SaaS PRO clients for whom they provide sales and use tax compliance services or con- sulting. Pricing for the CORE tax engine is based on the volume of transactions, 866-513-CORP with 1,000 annual transactions costing about $700 per year. T e addition of the PLUS forms preparation and due-date monitoring system starts at $1400 based on the number of returns and jurisdic- tions, and can be used as a stand-alone return preparation system, with the ability to import transactional data from accounting programs. T e PRO version, with the other versions included, starts at $1,425 annually, plus initial setup, depending on transaction and filing volume. www.salestax.com April 2012 • www.CPAPracticeAdvisor.com 11 integrated sales tax compliance, and 1099 reporting. BASIC SYSTEM FUNCTIONS TrustFile is locally installed either on a PC or a networked server, and includes e-filing tools and payment capabilities. Initial installation pro- cesses are simple and guided, with intuitive setup tasks for fi ling entities, preparers and other information. T e base user license of the system supports up to fi ve EINs, with the ability to add additional business entities via add-on licenses. Although there are some slight dif- ferences in menu structures and a few features based on each state's filing requirements, all of the versions of TrustFile open into a simple, standard- ized interface that offers pull-down menus and icons for accessing key system areas, such as opening or cre- Users can drill down to underlying forms and worksheets, if desired. Additional tools include forms and utilities that can be used to manage exemptions, deductions and other issues. Company selection lists are spreadsheet-based and off er general search and fi lter functions. COMPLIANCE CAPABILITIES Users with filing requirements in multiple states may need to use mul- tiple versions of the system, and redundant data entry is required since the 12 state applications do not share a common database. Compliance is supported for subsidiary county, city and special taxing districts for each state versions of TrustFile. Forms are prepared on very precise replicas, with e-fi ling and electronic remit ance functions easily accessible INTEGRATION/IMPORT/EXPORT Integration of the core business/payer data between the various state versions of TrustFile would be useful for users managing entities across multiple states, but is not available. T e program does off er import of CSV fi les, enabling import of data from most third-party financial applications, but does not off er output into the same format, only to PDF. Basic reporting options include output of forms, lists, communication logs, receipts and acknowledgements of fi ling. HELP/SUPPORT Each of the state versions of TrustFile includes a help utility, while filing instructions are available from the help menu as a PDF document. Online support functions include demos, videos, whitepapers, research materials and user forums. Live support is included with pricing, and priority support packages are also available. SUMMARY & PRICING ating entities, managing entity pay- ment/fi nancial information, handling e-filing of returns and verifying the status of returns. An available wizard guides new or infrequent users step- by-step through preparation processes. While using either the wizard- guided or manual preparation option, data is entered onto replicas of state forms, with automatic calculations and transfer of data to appropriate fi elds. from the main icon menu, and access to printed forms and PDF output options. T e 1000-plus forms available in the TrustFile Forms Library, licensed separately, are all state approved and can be mail fi led. Updates to rate tables are available for download through the program, downloaded manually from the support website, or can be received on disk. With very user-friendly navigation, preparation and filing processes, TrustFile is well-suited to accounting professionals responsible for sales and use tax compliance for smaller and mid-sized businesses in any of the 12 supported states. Each state application is $159 per year, and support fi lings for up to fi ve business entities based on EIN. Additional packs of five busi- nesses are available for $99. www.TrustFile.com