CCH, a Wolters Kluwer business — ProSystem fx Tax

800-PFX-9998 (739-9998)

CCHGroup.com

BEST FIRM FIT:

An excellent solution for firms of all sizes and those who want the most flexibility in how the application is delivered to end users (local, hosted or public/private cloud). 

STRENGTHS:

• Integration with other CCH applications & tools, including ProSystem fx Engagement, Gainskeeper,  IntelliConnect & CCH Tax Prep Partner Series
• New Global Integrator tool supports those with multi-national filing or complex consolidation requirements
• Ability to mask confidential data on printed returns offers some additional protection against identity theft & support for outsourced returns
• The only product suite offering an optional locally-installed scan, organize & populate tool (ProSystem fx Scan)
• Strong spreadsheet & GL import capabilities

POTENTIAL LIMITATIONS

• SaaS version (Global fx) requires Internet Explorer 7 or later
• Implementation of IntelliConnect & Next Generation applications in 2010 was a large amount of change in one year for users of these applications
• Supported write-up solutions limited

800-PFX-9998 (739-9998)

CCHGroup.com

ProSystem fx Tax remains a popular choice among firms for tax compliance work. Currently, CCH offers ProSystem fx Tax as a traditional, locally installed product (ProSystem fx Tax) and an Internet-hosted product (Global fx). Although both are similar in functionality, this review focuses on the traditional, DVD-based product. CCH prides itself on the annual enhancements made to ProSystem fx Tax, and for 2010, CCH has enhanced integration with new and existing ProSystem fx Suite products as well as introduced new features. The significant additions include enhancements to the electronic filing system, the ability to mask social security numbers and bank account information on printed copies of returns, and the ability to prepare consolidated partnership returns.

CORE PRODUCT FUNCTIONS/FEATURES

ProSystem fx Tax defaults to a client list screen upon opening the program. From this screen, users can view a list of recently accessed files as well as returns routed to the user. A number of filters are also available to aid in locating client files. Once inside a client file, navigation is accomplished by using a series of drop-down menus broken down by categories (Income, Deductions, Payments, etc.). Each screen is then divided into expandable tabs for data entry. Information can be entered through summary screens or by using traditional form-fill style input, which may prove more useful when entering detailed information such as from brokerage 1099s. It is also important to note the alternate interview input method is still available and can be activated through the View menu options on the main menu bar. This input method showcases an organizer and direct form-fill process for data entry as opposed to worksheet-style data entry.

ProSystem fx Tax has a wide breadth of federal, state and local tax compliance options. Federal return compliance is fully supported for individuals, businesses, nonprofits and other major categories. State and local jurisdiction support is also available in most instances.

Many changes have been made to the electronic filing system for 2010. Now available, is the ability to view more state history within the return, such as electronic filing date history and a listing of any refunds or balance due. ProSystem fx Tax also added 13 partnership and 25 corporation electronic filing modules. Users can now mark state returns as paper file returns once the federal return has been accepted by the IRS. Also, users are allowed to convert a return to a paper filed return after an electronic file has been created but not yet transmitted to the Service. 4.75

INTEGRATION

ProSystem fx Tax tightly integrates with many products within the ProSystem fx Suite and CCH Research solutions. This allows users to fully integrate the tax preparation function with tax planning, practice management, engagement and document storage solutions under the ProSystem fx brand. Both of CCH’s tax research solutions, IntelliConnect and CCH Tax Prep Partner Series, can be accessed through a right-click shortcut menu on almost any field or form within ProSystem fx Tax. This allows direct access to topical research based on where users are located in the program.