The Magtax wage and year-end information reporting system from American Riviera Software is available in standard and professional versions, offering multi-client management for professional accountants handling these processes for business entities. The system supports all versions of form 1099 and 1098, plus quarterly federal and state returns, as well as options for electronic filing, plain paper printing and data import from QuickBooks and other programs.
Basic System Functions
The primary Magtax interface houses the master client/payer selection screen, which provides multiple sort, filter and search options, along with tabs that give quick access to company information sheets and setting default information for form data entry. Any number of client/payer entities can be managed within the program, with each having any number of form recipients. The program also offers a wizard that helps set up new business payers. When within a client’s files, the program offers a taskbar on the left to access system setup, file management and some form actions. Pull-down menus at the top of the screen offer access to recipient data entry and forms.
Selection of a form type then provides a payee list for that payer, along with the ability to create new payees or copy an existing one. The recipient lists provide a spreadsheet view with filter and sort options that are intuitive and include summary form data for each recipient. While this doesn’t provide a true batch entry function, it does provide a streamlined at-a-glance view and helps to speed workflow processes. Additional pull-down menus include printing functions, history and access to the system’s Help utility. Data entry is performed on form replicas, but W-2s do not include an auto-calculate feature. Prior to filing or printing, the system provides a diagnostics and review process that checks for errors and missing information. The networked version of Magtax can be used by up to five staff members at the same time. Magtax is not designed to offer after-the-fact payroll and, therefore, does not include state payroll tax tables. The system is updated and available by year-end. 4.25
Magtax supports printing to plain paper or pre-printed forms and provides all versions of forms 1099 and 1098, along with forms W-2, W-2G, W-2C, W-3, 1042 and 5498. It also handles forms 940, 941, 944, 945 and most state wage reports, with form data calculated and populated based on recipient data. The system’s managerial reporting options are limited to filing summaries for each form type, which, along with the forms, can be saved into PDF, CSV and other formats for some customization. Forms can be electronically filed through Magtax using the IRS’ FIRE and SSA’s BSO online systems. The company offers forms and paper supplies but does not offer self-sealing pressure envelopes. Invoicing and billing capabilities are not available, but offers export and integration capabilities with QuickBooks for these functions. The company does not offer options for outsourcing printing and mailing processes. 4
Magtax provides multiple options for data import and integration, including the ability to pull data from forms generated in QuickBooks, Excel, text, CSV and old file formats. These multiple formats are also available for data export, which allows import of that data into payroll, GL, write-up and other applications. A remote client data import function is available. While portals are not offered, the system’s ability to print to PDF enables electronic distribution and management of form copies. 4.5
Magtax can be used with all modern Microsoft operating systems up through the newest Windows 7 32- or 64-bit platform, as well as with most server technologies. Within the program, traditional assistive features include a Help index, task-specific Help, screenshots, a getting started guide and a feature list. Additional tools include the program’s setup wizard and the diagnostics function. Program updates can be downloaded from the company’s support website, which also includes a knowledgebase, tips, company news and access to support staff. Updates cannot be automatically set to occur. Live support is included with program pricing. 4.75
Summary & Pricing
Magtax offers great integration with QuickBooks and the ability to import from many other formats, providing a streamlined way of entering data. With no fees for electronic filing or per-form charges, the system offers all-inclusive functions that generally ease most tasks involved in year-end reporting. Pricing for Magtax Standard is $199 for a single user. The more comprehensive Magtax Professional version is $299 for a five-user license.
2010 Overall Rating 4.5