The application will also create an Excel spreadsheet listing securities trades reported for easy reconciliation to source documents and import into most tax applications.
CCH refers to its solution for using OCR technology to extract and import data from scanned tax forms as “Autoflow” technology. While the scan and organize features are priced based on the number of simultaneous program users, the data extraction and import tools are licensed on a per-return basis. The list price for using Autoflow on a return is $12.
ProSystem fx Scan does not currently offer a solution for direct download of stock trades from financial institutions. However, it does offer basis tracking through its Gainskeeper Pro application (sold separately).
CCH offers end users training in the use of the Scan application, and its consulting group assists firms with implementation and process optimization. The annual maintenance fee includes software updates, as well as a web-based training session.
Executive Summary & Pricing
ProSystem fx Scan is the tax document automation tool for the popular CCH ProSystem fx suite of applications. Scan is different from most of the competing products because it is one of only two products reviewed here, which is installed locally on a firm’s servers. Scan does not require information to be sent to a secure data center for batch-based processing. However, the firm may need to invest in additional hardware to support processing large volumes of documents. The ProSystem fx Scan application starts at $4,185, and the Autoflow (OCR/import) feature has a list price of $12 per return processed.
2011 Overall Rating