ProSystem fx Tax also integrates with several third-party software offerings. Microsoft Word and Excel are supported, including the most recent 2007 and 2010 versions. The system also has built-in support for BNA for tax planning purposes, GainsKeeper and BasisPro for investment reporting, and the newly acquired Global Integrator software for large and global organizations. 4.75
ProSystem fx Tax has several native workflow solutions. Screens that allow or require significant data input can be exported to a spreadsheet as a template. That template can be populated through Excel or other spreadsheet solutions and imported back into ProSystem fx Tax. Through G/L Direct, trial balance data can be imported from a number of accounting packages, including some legacy products. This data can then be routed to the appropriate lines and forms for Schedule C and business returns. ProSystem fx Tax can also import ASCII files (basic text files) from nearly all software products and service providers that can export data into this format, including many brokerage firms.
ProSystem fx Tax has tight integration with ProSystem fx Scan, CCH’s software solution that quickly and reliably takes the proverbial “shoebox” of unsorted client information, determines what each item is, and outputs the documents to a single, organized and bookmarked PDF file. Coupled with AutoFlow Technology — the process that extracts data from 1040 client source documents to be imported into the return — ProSystem fx Scan, ProSystem fx Tax and PDFlyer provides firms with a complete digital 1040 preparation solution. Bookmarked PDF files can be generated with ProSystem fx Tax. The indexing of these files is static and can only be modified or rearranged through PDF editing software such as Adobe Acrobat Standard.
The system offers some functions to aid on-screen review, and many diagnostics that are generated are tied to underlying input forms. An arrow appears next to these interactive diagnostics and, when clicked, takes users directly to the appropriate screens for possible adjustments. Review tick marks may also be used and colors (red, blue, green) can be assigned to users or for specific review tasks. 4.75
CCH offers two hosted versions of its tax preparation software. In October 2009, CCH launched its next generation of ProSystem fx Tax, known as ProSystem fx Tax SaaS. The underlying application has been written from the ground up to take advantage of modern operating system and database technologies. The second offering, Global fx is an Internet-hosted version of the locally installed “foundation” product and allows for anywhere, anytime access from a Windows PC using Internet Explorer 7 or later. The functionality of both products largely mirrors that of the disc-based ProSystem fx Tax software. It is recommended that firms with more than 10 users have a business grade Internet connection in place. It is also important to note that other than the initial client installation file, all updates for the current tax year are automatic and do not require any user intervention.
CCH is currently in the process of expanding the Next Generation SaaS product lineup. In addition to Global fx, users now have the option to add Internet-hosted portal, practice management and document management solutions. Also available is Tax Notebook, which allows clients to fill out web-based organizers that can be downloaded and imported directly into ProSystem fx Tax. 4.75
EXECUTIVE SUMMARY & PRICING
With traditional and Internet-based solutions available, ProSystem fx Tax fits a wide market range from single users to large multi-user organizations. Pricing for the traditional DVD-based software is $3,585 for the individual tax preparation module and $2,235 for business modules (minus any applicable discounts). State returns are grouped and priced by complexity and start at $435 per state module. Per-return pricing is also available for all modules. Global fx pricing starts at $25 per user, per month with an annual $100 setup fee.
OVERALL RATING 4.75
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