Today's Technology for Tomorrow's Firm.
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SALES & USE TAX Reviews For Your Firm CFS Tax Software, Inc. - CA & NY Sales Tax Preparer 2012 OVERALL RATING BEST FIT Preparers responsible for small and mid-sized businesses with multiple locations and reporting requirements in California or New York. STRENGTHS • Very easy to use, and includes auto- matic system updates • Built-in e-filing and payments to California • Reports, forms, and gross summary reports can be published to PDF or paper • Integrated client communication tools • Multi-entity/client management POTENTIAL LIMITATIONS • Only handles California and New York returns • E-fi ling is not natively supported for New York Returns • Very lit le integration with accounting systems T e CA and NY Sales Tax Preparer systems from CFS Tax Soſt ware, which are sold and run independently, can be used to prepare returns for multiple entities. The tools are designed for preparation of sales and use tax returns, plus related fi lings, including main and short forms, client communication templates, state filing instructions, e-filing and payment for California returns. CFS also off ers a wide range of tools, including California and Maryland business and personal property taxes, tax research, fi nancial planning tools, Schedule D tools, live and aſt er-the-fact payroll, W-2/1099 reporting. BASIC SYSTEM FUNCTIONS Each of the state programs operate independently, but share common design and navigation elements and form preparation functions. Each application opens into a master screen composed of panels for the client list, client folder and the module library. T e client list is a basic, alphabetized 800-343-1157 list, with the ability to add or edit cli- ents. T e client information screens are familiar and easy to use, with options for managing business banking and tax ID information, as well as assignment of paid preparers, if more than one at a fi rm. T e module library lists all of the forms available for either California or New York, depending on the version of the program. Preparers have quick access to forms and reports, as well as labels, memos, account statements, to do lists and invoices. Users navigate to select the form, identify the filing period, and the system opens up an automatically populated form replica containing basic business information. T e program calculates fi elds as data is entered, and offers direct access to instructions for each fi eld. Installation is quick and guided by simple prompts that also aide in set ing up initial client and preparer/fi rm data. T e systems can be installed on a single workstation or, with the addition of the network license, can be used by any number of preparers and staff in an offi ce. CFS Sales Tax Preparer can be used to manage and fi le returns for any number of business entities. COMPLIANCE CAPABILITIES Both the California and New York Sales Tax Preparer systems off er support for all local and special taxing jurisdictions in their states, and support fi lings for businesses with multiple locations in these states. For the CA program, forms preparation includes: 401, 401-EZ, Schedules A, B, C, G, 1150 prepay- ment, and also BOE 65, 91, 101, 135-A, 230, 345, 392, 400-MCO, 400-MIP, 400-MT, 400-SPA, 401-DS, 401-E, 468, 531-G, 735, 501-ER Electronic Waste Fee, 501-TF Tire Fee, 501-TK Storage Tank Fee. T e NY program off ers forms ST-100, 101, 810, 809, 943, 945/1045, and Schedules A, FR H, N/N, P and W, plus Connecticut form OS-114. As noted previously, data entry is performed on form replicas that, when printed are approved for fi ling, and the programs off er tools for distributing sales across jurisdictions within the states. CFS is approved by the California BOE as an e-fi le and e-payment system for sales and use tax, and utilizes the Direct Transmit method (XML-based) for filings. Users have the optio of performing all processing electroni- cally, can mail paper-based fi lings, or file electronically and mail a check. New York's recent changes to sales and use tax fi lings included a mandate for most businesses to e-fi le, but the state has not yet approved any integration with technology vendors, so electronic New York filers must use the state website. T e NY Sales Tax Preparer system can be used to prepare and fi le returns by mail for small fi lers not subject to the e-fi ling requirement. Users of the state e-fi le system can use the program to process and prepare, then enter summarized data into the website, while retaining a PDF copy for their records. The state is working on a process to certify and allow e-fi ling via preparation programs, and CFS has a goal of being among the fi rst approved New York sales and use tax soſt ware providers. Tax table updates are provided periodically to users of the most cur- rent year of each program, and the systems include the option to auto- matically download and install updates. CD-based copies of the tables are also available. INTEGRATION/IMPORT/EXPORT Both the CA and NY sales tax systems share a common database with the Company's other tools and programs. T ese integrated applications include TaxTools, Tax Corresponder, W-4 Calculator, Small Business Tools, MD Personal Property, CA 571 Preparer and Financial Planning Tools. The systems cannot import sales, tax or client data from outside accounting systems. Reporting tools include client communication templates which create cover let ers, memos, label makers, and client let ers, as well as basic reports such as gross sales summaries and client invoices. Returns and reports can be saved to PDF format for digital file management or emailed from the program. HELP/SUPPORT The programs include built-in help indexes, and form preparation is aided by linked access to line-by-line instruc- tions. T e CFS support website off ers various resources, including FAQs, videos, links to tax websites and user forms. Live support is included free with pricing and includes phone-based assistance and remote and chat-based support. SUMMARY & PRICING T e Sales Tax Preparer system is easy to understand and use, and linked instructions, module overviews and training videos ease new users in the software's workflow processes. The systems are best designed for small and mid-sized businesses that have taxable sales in more than one jurisdiction within either CA or NY, and need a simple solution for preparation and fi ling. T e CA version of the program costs $119 for new users, $99 for renewals. T e NY version costs $169 for new users, and $149 for renewals. T e addition of the network upgrade for either version is $50 per year. www.taxtools.com April 2012 • www.CPAPracticeAdvisor.com 13