Best Firm Fit:
Small to mid-sized firms with mostly 1040s, but also diverse business taxation needs with some moderately complex clients.
- Supports all entities, states & most local taxes
- Options for research, fixed assets, document management & W-2/1099 reporting
- Integrated billing system
- Optional innovative data extraction/import tool combines a scan & organize system and direct download of financial data, where available
- No client portals
- Few internal collaboration tools
- Although add-ons are positive, they add up since system is not all-inclusive
ProSeries is one of the best-known professional tax compliance systems for small and mid-sized practices, providing a comprehensive suite and a user-friendly interface that offers forms-driven data entry, customizable checklists, unlimited e-filing, document automation tools, billing and communication management, in addition to research options and integration with accounting and other software applications. New for the 2010 tax year, Intuit has added additional state e-filing support for businesses and fiduciary entities, a new online resource center, financial data import functions and BNA-developed research integration.
Core Product Functions/Features
ProSeries is available in various formats, from complete and unlimited use systems to a pay-per-return model, with support for all federal year-end income reporting forms: 1040, 1041, 1065, 1120, 1120S, 706, 709 and 990. The system also supports all states with individual and business entity reporting, as well as most local individual income taxing jurisdictions, including Michigan and Ohio localities, as well as New York City.
ProSeries opens into the HomeBase View, which is centered around a master client selection and information list that can be set to display clients based on form family, or can show e-filing data, bank products and analysis features. This screen also offers quick links to key program features, including the built-in E-File Center, snapshots, Tax Import functions, alerts and other tools. A panel to the right offers access to tax research and the Intuit Live Community, where professionals can interact with peers to provide guidance and strategy tips.
When within client returns, the system maintains a forms tree on the left that shows both active forms for the current client, as well as expandable menus for adding additional forms and worksheets, with options separated into categories for common forms, general information, e-filing and banking, income, adjustments and deductions. Data entry can be performed on form replicas or on interview-style worksheets, with the ability to jump quickly between the two options. Data can also be imported from financial institutions and through an optional scan and organize utility. Screens are well-designed and clean, with simple keyboard or mouse-based navigation.
ProSeries includes quick MFJ vs. MFS comparisons and supports amended federal and state returns, as well as issues such as alternative minimum tax, minor dependent income (kiddie tax), K-1 data transfer, plus additional support for 1040NR and net operating loss reporting. Unlimited electronic filing for federal 1040, 1041, 1065, 1120, 1120S and 990 returns and extensions as well as all states that accept e-filing is included in the ProSeries system, and a centralized management center helps users with submitting returns, tracking receipts and acknowledgements, and checking on status. E-filing is also offered for New York City Corporate and Partnership returns and Corporate Extensions. 5
For the small and mid-sized practice, ProSeries offers a great collection of workflow tools that are geared toward streamlining everyday tasks. From unlimited e-filing, to integrated research and fast data-entry functions, the system helps preparers keep productivity at a high. New for 2010, the company debuted the ProLine Tax Import system, which provides two key features when it comes to paperless workflow and streamlined data entry.