Today's Technology for Tomorrow's Firm.
Issue link: https://cpapracticeadvisor.epubxp.com/i/599790
18 November 2015 • www.CPAPracticeAdvisor.com TAX DOCUMENT AUTOMATION SYSTEMS Reviews BEST FIT Source Document Processing is ofered as an add-on for frms using UltraTax CS and FileCabinet CS, as w e l l a s t h e o t h e r p r o g r a m s i n Thomson Reuters' CS Professional Suite. It is best geared toward frms looking to easily create digital work- papers that maintain a standard organization structure, and offers automatic population of the data into client tax returns and schedules in UltraTax CS. STRENGTHS • Sou rce Doc u ment Processi ng i nteg rates d i rec t ly w it h ot her p r o g r a m s i n t h e T h o m s o n Reuters CS Professional Suite • Te system automatically labels and organizes source documents into an electronic tax binder that can be stored in FileCabinet CS • A utom at ic a l l y t r a n sfer s d at a f rom scanned documents into c l i e n t t a x r e t u r n s (w i t h i n UltraTax CS) • Cost-efective pricing on a per client basis POTENTIAL LIMITATIONS • T he s y s tem req u i re s c u r rent licensing on UltraTax CS and, for paperless work paper ma nage- ment, with FileCabinet CS • Does not integ rate w ith other document management or ta x programs SUMMARY & PRICING The Source Document Processing system from Tomson Reuters ofers an intuitive interface that helps streamline tax workfow, and which should be familiar in design and pro- cess to frms using UltraTax CS and FileCabinet CS. The program has strong optical character recognition (OCR) functions that can identify and extract data from a broad array of source documents, with verifcation processes that help ensure data integrity. The system is offered at service-based pricing costing $6 per client per tax year, for any number of s o u r c e d o c u m e n t s u p l o a d e d , including documents that may need to be added later. An unlimited license is available for $1,560. http://tax.thomson- reuters.com Thomson Reuters UltraTax CS Source Document Processing Read the full review and see expanded ratings for this product online at: www.CPAPracticeAdvisor. com/12132972 4.5 2015 OVERALL RATING BEST FIT Tax frms with complex clients who want a comprehensive system that will handle large volumes of clients and tax documents, providing a digital PDF workbook that is editable and ofers additional features. Te system also offers excellent tools for multi-pre- parer returns, with preparation, review and fnal sign-of steps. STRENGTHS • Te program includes a variety of options for frms clients of any comple x it y, w it h 10 4 0 SC A N O R G A N I Z E , 1 0 4 0 S C A N TR DES and 1040SCA N PRO of fering a w ide choice of tools and capabilities • Firms have the option of auto- population of tax returns (GoS- ystem Ta x, Global fx, Lacer te, ProSystem fx Tax and UltraTax CS) • Te SPbinder tool is exception- a l ly f u nc t ion, orga n i z i ng a nd annotating PDFs, Word docu- ments, Excel f les and Outlook emails • Su rePrep i ncludes ma ny f i r m c u s t o m i z a t i o n o p t i o n s f o r work fow practices • F a s t t u r n a r o u n d t i m e f r o m scanned-in documents to com- plete PDF workpapers POTENTIAL LIMITATIONS • Extensive work fow features may require additional time to gain full beneft of system. • Creates PDF work papers i n a proprietar y format that cannot be mod i f ied usi ng ot her PDF editing applications. SUMMARY & PRICING SurePrep is comprehensive and ofers several diferent options for tax season, leting frms use as much or as litle of the options as they need. Te system can handle the most complex returns, and includes enhanced practice workfow features that help to further streamline tax preparation, review and sign-of processes. It includes integra- tion with GoSystem Tax, Global fx, L acer te, Pro Sy stem fx Ta x an d UltraTax CS for automatic population of client tax forms. Pricing for SPbinder costs $5 per client return, regard less of the number of client source documents. 1040SCAN ORGANIZE is $10 per retur n and includes SPbinder. 1040SCAN TRDES costs $20 per e ngage m e n t a n d i n c l u d e s t h e SPbinder and ORGANIZE pro- g r a m s . T h e c o m p r e h e n s i v e 1040SCAN PRO system, which includes the other three, costs $30 per client engagement. Rates are discounted for frms that purchase early in the year or make multi-year purchases. www.sureprep.com SurePrep 1040SCAN Read the full review and see expanded ratings for this product online at: www.CPAPracticeAdvisor.com/12132971 4.75 2015 OVERALL RATING