Exciting new features in Drake Software - By: Wiiliam Smith

Core features:

Drake software files returns for all federal, state and municipal individual returns, and used as well as for filing forms 1041, 1065, 1120, 1120S, 706, 709, 990 and 990PF. An option of unlimited e-filing has been included in the software for individual and business entities.

All of Drake’s additional modules are included in its system pricing

It’s write up program which is included in the additional module offers payroll and benefits program, check writing, employment reporting and e-filing, W-2 and 1099 printing, and financial statement generation.

Other features that are also included are features for appointment scheduling, return tracking and managing multiple offices.

One of the exciting features of Drake software is that it has a customized user interface, which each user can customize according to his needs.
Personal client manager is displayed on the screen; it shows the returns for the preparer who is logged in by the user in a spread sheet which can be sorted according to the needs of the user. The customized interface for the user also displays a pane on the left hand side that lists the recent returns, notifications and upcoming appointments.

Other several icons on top are for Scheduler, the Client Status Manager, research functions and other tasks. More advanced client selection list is included in client status manager along with summary data which includes refund amounts, status and customer billing information, plus additional reporting and export options.

Data entry menu within client’s return gives access through a tab to preparation areas within the return, such as tax, credits, income etc. The menu also highlights areas that are active. Other return specific feature tabs are placed on top of this menu, which includes MFJ/MFS functions, the tax planner and document management.

One of the major advantages of the new hyperlinked screens is to be able to move to different areas of a return, such as going to an asset management screen from a client’s Schedule C.

Making work flow completely paperless:

Drake software offers extra tools for the paper less practice, like, the ability to create PDF copies of client returns along with e-mailing of encrypted returns and other client correspondence from within the program has been included to improve the PDF version of tax returns.

Data management system (DMS) is included in Drake software. It can store digital returns and scanned client documents with filing structures determined by the firm.

The scanning system does have optical character recognition capabilities but it does not offer auto-population of tax-payer data. It does have multi—year storage facilities.

Drake software is more favorable to 1040 practices thus many of the features of the software are suited for individual client.

In the year 2009 Drake software introduced E1 Visa debit card. In this service individual clients are notified via text or E-mail when their refund or bank products have been loaded to their card.

Integration:

Drake software offers good integration packages. It provides pretty good integration between tax package and vendor’s write up, planning and other modules. Data can be imported from QuickBooks and can export it to Excel, Access and PDF formats.

It offers a good platform for research tasks too; the users of Drake software have access online to the Checkpoint research platform’s primary source materials, as well as the Federal Tax Handbook, Form/Line Finders, Cummings’ Corporate Tax Insights and Federal Taxes Weekly Alert Newsletter.

Users using Drake software also get a free web-site on Drake servers.

Help and Support:

It provides very good help and support. It has extensive help material available online with the FAQ’s and user forums etc.

During tax season, support is available from 8:00 a.m. to 10:00 p.m. ET, and on Saturdays from 8:00 a.m. to 6:00 p.m.

Hosting Drake software:

Drake Software Hosting is a very good option, it allows you a lot of flexibility, like if you need a service for this month and not the next, then the service can be hired for this month only.
With this your tax applications can be accessed from anywhere at anytime, which not only saves your transportation costs but cuts down the time too. Moreover high speed access is achieved because the application is run on the terminal servers not on your desk top and there are no IT costs anymore as all technical glitches are handled by the company you have chosen to host the software.

Summary and Pricing:

Drake software costs round about 1495$ but can be bought much cheaper with early season discounts for as low as 1095$ with unlimited e-filing, and the write-up, planning and document management systems.
What Drake software does not provide is form 5500 compliance support, nor does it provide a form view data input option. PDF generation of Drake software lacks client portals and OCR/scan-and-organize functions.

About the Author

William Smith is a technology Specialist at Real Time Data Services specializing in Accounting application and software products. Real Time Data Services provides QuickBooks Hosting , Tax Application Hosting such as Drake Software , Proseries, Lacerte, UltraTax, ATX etc as well as Managed IT Infrastructure services for small and medium businesses As well as remote desktop support.

Article Directory Source: http://www.articlerich.com/profile/Wiiliam-Smith/81097

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