CCH, a Wolters Kluwer business — ProSystem fx Tax

From the April/May 2008 Review of Tax Compliance Suites

ProSystem fx Tax is one of the premier professional compliance systems, providing support for all entities with income or annual reporting requirements for state, federal and municipal jurisdictions. It also provides the benefits of the ProSystem fx Office, a full suite of related tax, accounting and firm management programs. The comprehensive tax system offers advanced features and calculation capabilities, giving it the ability to process the most complex returns and interrelated returns, along with analysis and productivity tools. ProSystem fx Tax, with a four-user license with all states and all possible entities (1040, 1041, 1065, 1120, 1120S, 990, 706, 709, 5500), would cost about $10,000, although since each of the entities and states are available in modules and bundles, most firms can meet their needs for considerably less than that cost.

The system and individual modules can also be used on a pay-per-return basis. Other programs in the ProSystem fx Office family include options for write-up, trial balance, tax planning, practice management, engagement, sales and use tax, document management, research, asset management and portfolio management. Options are also available for remote access to the tax system and for outsourcing return preparation.

General Operations/ Ease-of-Use -- 4 Stars
ProSystem fx Tax provides an intuitive, centralized interface from which users can access all of the system’s modules. The interface can be customized to user preferences and access rights, with the primary work area opening by default to a client selection screen that displays only those returns for which the current user is authorized to work on or review. The selection list provides various filter and sort options in addition to search capabilities.

When within a client’s files, an additional navigation panel provides an expandable menu tree of forms and worksheets connected to the particular client return. This allows the user to easily move to these forms or to add forms and schedules as needed. Within a return, preparers have the option of using an interview or worksheet method of data entry, or to enter client data directly onto form replicas. In the interview mode, the program divides data entry into tabbed screens based on information categories, which include General, Income/Deductions, Taxes, Payments/Penalties, Credits and Other. Navigation through data-entry screens is intuitive and ProSystem fx Tax utilizes smart entry features and selection lists to speed entry of common items.

All data is automatically calculated when the user selects the Calc Return button, with calculations transferred as necessary between worksheets and forms and related returns. Users have easy, drilldown access to the source of calculated entries. New for TY2007, CCH has added streamlined input forms to speed entry from source documents. These include a consolidated 1099 form, a look-alike 1098 input form, and facsimiles of 1098-T and 1099-Q. A new Organizer checklist is also included, providing a simplified alternative to the traditional organizer and easing the process for clients.

Workflow & Productivity Tools -- 5 Stars
With CCH offering programs designed for virtually every aspect of a professional accounting and tax practice, one of the core productivity benefits in ProSystem fx Tax is its integration with all of these other programs. With data flowing automatically between most of the various applications, full-service practices will realize considerable time savings and help prevent data errors.