Today's Technology for Tomorrow's Firm.
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November 2015 • www.CPAPracticeAdvisor.com 17 TAX DOCUMENT AUTOMATION SYSTEMS Reviews BEST FIT Professional accounting firms who want to automate their tax workfow within the ProSystem fx and CCH Axcess Suite of tax and accounting programs. STRENGTHS • AutoFlow Technolog y feature facilitates validation of data • Fast and accurate optical char- acter recognition (OCR) • Good options for user custom- i z a t ion w it h a n not a t ion a nd bookmark features • Options for a nnotating , ma n- ag i ng book ma rk s a nd repag i- nating PDF documents • D u a l sc reen rev iew i nter f ace ofers view of forms and source documents POTENTIAL LIMITATIONS • Te AutoFlow feature (for popu- lating tax returns) only imports data into Wolters K luwer's CCH tax products, although the OCR functions can be used regardless of tax program. • The program is geared toward f rms w ith a moderate or large volu me of i nd iv idu a l ret u r n s with multiple related ta x docu- ments SUMMARY & PRICING CCH ProSystem fx Scan of fers excellent f irm management and review options, with highly accurate OCR capabilities, and is available in both frm-hosted and SaaS versions. Digital PDF workpapers include annotation, bookmarking and pagina- tion options. Pricing for CCH Pro - System fx Scan varies, starting around $5,250 for the firm-hosted version with unlimited use. CCH ProSystem fx Scan (SaaS) starts at $675 annually based on the number of client files processed. AutoFlow Technology costs $14 per client return (which includes all documents associated with a return). Te Scan (SaaS) ver- sion is sold in bundled quantities. www.cchgroup.com CCH ProSystem fx Scan and AutoFlow Read the full review and see expanded ratings for this product online at: www.CPAPracticeAdvisor.com/12132969 4.5 2015 OVERALL RATING BEST FIT Tax-focused frms using any major tax package who are looking for a cost- effective way to digitize their tax workfow, turning client documents into organized and bookmarked PDF workpapers. STRENGTHS • S e c u r e w e b - b a s e d s y s t e m (SSA E-16 Type II) means frms can instantly ramp up during tax season, ta k i ng on more cl ient r e t u r n s t h a n e v e r, w i t h t h e ability to access the system from any where • Strong security options • Combines a l l cl ient ta x doc u- ments into a single, bookmarked and linked PDF organized in tax folder format. • Optiona l modu le can transfer client tax data directly into the ta x sof ware, sav ing data entr y time (for select major ta x sys- tems: Drake, GoSystem Tax RS, ProSystem fx Tax and UltraTax CS) • System recognizes and pulls data from W-2s, 1099s, 1098s, K-1s, and many brokerage statements POTENTIAL LIMITATIONS • Sy s t e m i s o p t i m a l f o r m o r e complex returns, since it can take two to four hours for the system to create a digital PDF tax binder. SUMMARY & PRICING GruntWorx Organize, Populate, and Trades each help streamline diferent parts of the tax workflow process, helping to reduce or eliminate manual data entry and collection. Te digital tax workpapers produced by the web-based system can be edited and annotated. Te GruntWorx Populate system can automatically extract data from source documents and enter it into client returns for firms using Drake Tax, GoSystem Tax RS, Pro- System fx Tax or UltraTax CS. GruntWorx is priced on a per- return basis, which lets frms use it for just a few client returns or across a larger number. The Organize system costs $5 per use (regardless of the number of source documents in a client return). The Populate system costs $30 per income tax return. Discounts are available for high volume frms who plan to use it on more than 100 returns. www.gruntworx.com BEST FIT Tax professionals who use either ProSeries or Lacerte who want to automate tax workfow processes by creating paperless PDF workpapers and importing tax data from scanned in client documents, as well as from fnancial institutions. STRENGTHS • A t wo-stage opt ica l cha rac ter recognition f unction increases data reliability • Te ability to directly download W-2 and 1099 data electronically from the f inancial institutions a nd pay rol l ser v ice prov iders that issued them • Review feature streamlines data verifcation • V a r i o u s p r i c i n g o p t i o n s , including per-return, bund led and unlimited POTENTIAL LIMITATIONS • Integrates only with Lacerte and ProSeries tax and the document management systems in those tax programs SUMMARY & PRICING ProSeries and Lacer te Scan and Import streamlines tax data entry two ways: By allowing users to scan in client documents, which are then processed into PDF tax workpapers with bookmarks and links; and via the fnancial institution import functions, which can pull W-2 and 1099 informa- tion instantly via secure integration. The system can be used on a per-return basis or frms can pur- chase multiple usage for a discount. Pricing for up to 25 returns is $199 (about $8 per return). Up to 50 returns is $399; 150 returns is $999; and an unlimited use license is $1,499. http://taxpro.intuit.com GruntWorx Organize, Populate and Trades Intuit Lacerte and ProSeries Scan and Import Read the full review and see expanded ratings for this product online at: www.CPAPracticeAdvisor.com/12132970 Read the full review and see expanded ratings for this product online at: www.CPAPracticeAdvisor.com/12133049 4.75 4.5 2015 OVERALL RATING 2015 OVERALL RATING