2014 Review of CCH ProSystem fx Planning

The ProSystem fx Suite from CCH offers integrated applications for tax and accounting firms. While CCH also has cloud-based solutions known as CCH Axcess, for now Planning is only a network or locally installed program which can import tax data from either ProSystem fx Tax or CCH Axcess Tax. However, plans can be created manually for firms not using the CCH suites.

Basic System Functions: 4.75 Stars

The program’s primary interface is in a familiar spreadsheet format and users can enter information using various grids and worksheets. The cell backgrounds and text are color-coded, for example, grey backgrounds indicate a calculated field, overridden amounts are in magenta and negative amounts are in red. The program automatically calculates totals as data is entered. Planning years are displayed in columns, and the AutoFlow option can be toggled to copy data from the current column to consecutive years (not to be confused with the AutoFlow part of ProSystem fx Scan).

The program’s toolbar can be customized by adding, removing, or reordering buttons. On the left, the program uses a folder structure similar to Windows Explorer to organize types of tax data, and are indicated with a red asterisk when a folder or grid contains data. Users can create embedded notes (comments) for cells within the program’s spreadsheets and also print those notes. Individual plans can be password protected.

Core Tax Planning Features: 4.75 Stars

CCH ProSystem fx Planning supports up to 30 cases per tax plan, and 10 planning years per case (previous year, current year, and up to 8 future years). Among the tax computations the program addresses are alternative minimum tax, passive loss limitations, lump-sum distributions, and kiddie tax. When wages are entered, the program automatically calculates Medicare and FICA/Tier 1 RRTA tax withheld.

CCH ProSystem fx Planning now supports state taxes for all states, including the District of Columbia and New York City.

Reporting: 4.75 Stars

As part of a larger suite of programs, CCH ProSystem fx Planning is able to take advantage of a robust Microsoft SQL database, with features such as the ability to track due dates and key milestones. The system has a suite of standard reports as well as a report writer for creating custom reports. In addition, CCH ProSystem fx Planning has the ability to generate mass emails, labels and letters to clients.

Integration/Import/Export: 4.75 Stars

ProSystem fx Planning can import tax data from either ProSystem fx Tax or CCH Axcess Tax. In addition, it can import Schedule D information from GainsKeeper Pro, CCH’s web-based portfolio management tool. ProSystem fx Planning can print reports to a ProSystem fx Engagement binder (only if Engagement is installed). Otherwise, the program’s output options are limited to PDF files.

Help/Support: 5 Stars

The license fee includes unlimited telephone and web support, which includes a searchable knowledgebase and live chat. From a menu within the program, users can contact support, open the knowledgebase, or start a remote support session with one of CCH’s support representatives. There is a comprehensive built-in help menu that is searchable, as well as a PDF instruction guide. The program includes an interactive tutorial that should be very helpful for new users.

New for 2014

Default state tax rates, deductions and exemptions are now programmed for all state income tax authorities, including the District of Columbia and New York City.
The system will now auto-assign the states to all years of a case, making it easier to run scenarios.
Users now have expanded input on the Net Investment Income Tax worksheet and the Additional Medicare Tax worksheet.

Best Firm Fit

The ProSystem fx Planning package will work well for firms with complex tax situations, particularly when they use other components of the ProSystem fx Suite or CCH Axcess Tax and can take advantage of the direct integration.

Strengths

Forecast and compare up to 30 different tax scenarios with 8 years of projection data per plan (plus current and previous years), with complete federal and state estimated tax and penalty calculations
Imports tax data from ProSystem fx Tax and CCH Axcess Tax
The license allows for an unlimited number of users at a firm location
Interactive tutorial and ample help resources
Only produces spreadsheet-type reports (no graphs or charts)
Reporting output limited to PDF files (no direct exports to Excel or other programs)

Potential Limitations

Only produces spreadsheet-type reports (no graphs or charts)
Reporting output limited to PDF files (no direct exports to Excel or other programs)