CCH, a Wolters Kluwer business — ProSystem fx Trial Balance

From the July 2010 Review of Trial
Balance and Engagement Management Systems.

The ProSystem fx Trial Balance system can be used as a stand-alone
trial balance program or used in conjunction with the ProSystem fx
Suite of professional accounting and tax applications. The system offers import
capabilities from most small and mid-sized business accounting programs, allowing
users to easily work with data from multiple clients and systems. For more intensive
audit-focused practices, CCH also offers ProSystem fx Engagement, which
includes the core functions and reporting features in the Trial Balance program
and is reviewed at www.cpata.com/go/2854.

ProSystem fx Trial Balance can support an unlimited number of business
entities, including subsidiary units, enabling professional users to easily
perform or roll back consolidations. The program also supports nonprofit entities.
The system’s primary interface offers extensive customization options,
including user-definable menus and shortcuts that can simplify workflow processes.
Several wizards are also available, which help set up trial balance and financial
statement templates, while industry-specific features offer predefined and customizable
lead schedules, classifications, groupings and sub-groupings.

Users can create adjusting, passed adjusting, re-class, tax, eliminating journal
and intentionally unbalanced entries, while transactional data is easy to apply
to source journals, such as cash receipts, disbursements and general journals.
Side-by-side comparison views allow quick oversight of consolidations or combinations.
ProSystem fx Trial Balance offers strong calculation capabilities and
reporting options, including multiple period types for interim processing that
allows users to quickly generate output based on month, quarter or semi-annual
periods, or to create and calculate larger custom periods. The system also offers
analytical review workpapers that present current and prior-year period comparisons.

For nonprofits and governmental entities, ProSystem fx Trial Balance
offers additional industry standards, including educational institutions, government,
healthcare, school districts and other groups. Users can create various fund
types based on their industry, and fund accounting can be linked to an entity’s
Form 990. Financial statement generation functions include drilldown access
to underlying details, the ability to combine accounts into built-in leads and
class schedules, customizable predefined financial set templates, simplified
on-screen formatting, and the ability to add supplemental schedules to income
and balance sheet statements.

ProSystem fx Trial Balance integrates directly with CCH’s tax,
engagement and write-up packages, imports client files from ACE, ATB, FAST!,
FAST Advantage and GoSystem Audit, and can pull data from most accounting packages.
All reports can be generated into Microsoft Office formats, and users can cross-link
to other Word and Excel files. Pricing starts around $1,400.