2012 Review of CCH, a Wolters Kluwer business – ProSystem fx Engagement

CCH, a Wolters Kluwer business – ProSystem fx Engagement
800-PFX-9998
www.cchgroup.com

From the Feb. 2012 Review of Engagement Systems.

Best Fit:
Any accounting firm that is currently in or converting to a paperless workflow environment.

Strengths

• Strong integration with ProSystem fx product lineup
• Intuitive interface based on Microsoft Windows and Office functionality
• High level of security from both user and data standpoints

Potential Limitations

• Limited integration with PPC Practice Aids
• Currently no SaaS offering

ProSystem fx Engagement is the powerful engagement management tool offering within the ProSystem fx product lineup. ProSystem fx Engagement provides a central location for data and workpapers to be stored and accessed. With heavy reliance on the Microsoft Windows and Office functionality, ProSystem fx Engagement provides a quick learning environment for most staff professionals. ProSystem fx Engagement includes all tools necessary to import and adjust client data as well as assist in the generation of financial statements and tax returns.

BASIC SYSTEM FUNCTIONS (4.75 Stars)

When ProSystem fx Engagement is opened, it has a Microsoft Outlook feel about it. Traditional drop-down menu navigation is located at the top of the screen while a vertical collapsing menu on the left part of the screen houses multiple shortcut icons. Navigation of the engagement itself is accomplished through a folder tree structure similar to Windows Explorer. The engagement screen is incredibly visual and various font weights, icon sets and color schemes are located in the middle of the screen. These visual clues make it easy to determine the current status of a particular document. For instance, a user can quickly tell if a document has not been opened if the document title is bolded. Other visual clues include icons for the document file type, any notes attached to the document and various sign off dates and times.

The interface itself does not allow for much customization. Custom options are reserved for the structure of the engagement itself. Users may start with predetermined templates, which ProSystem fx Engagement refers to as binders, or create their own based on client type and needs. When using or creating templates, all the underlying data is usually mapped and grouped appropriately and will not require much user intervention. This drastically reduces the time necessary to create future engagement projects.

A trial balance module is included within ProSystem fx Engagement and all data is stored in a SQL database. When accessing the database, users will rely on Excel to perform data queries and reports. This is by design and to create a comfort level with users, as most professionals have a reasonable comfort level with Excel. Many trial balance specific tasks may be performed through the add-in menu tab for Excel 2007/2010, a drop-down menu for Excel 2003 and earlier, as well as ribbons for Office 2007 and 2010. A snapshot of the trial balance may be found in ProSystem fx Engagement and this provides a summary of all assets, liability, equity and net income accounts as well as any accounts that may not be grouped for financial or tax return purposes. This snapshot view also provides direct links to journal entries of all types, including adjusting, tax and potential, among others.

ENGAGEMENT MANAGEMENT (4.75 Stars)

ProSystem fx Engagement is controlled through two layers of security. The first being an administrative layer, which controls offers access to functions such as setup of file rooms, staff and firm options, and the second being a workflow layer, which helps control structure and security of each individual engagement. The administrative layer may be installed on a dedicated server and assigned user rights through Active Directory on Windows Server products. This allows user rights to be tightly controlled to prevent intentional or inadvertent alterations. One additional layer of protection is that all documents contained within ProSystem fx Engagement are wholly contained. This prevents documents from being located through desktop search tools.