2013 Review of GruntWorx Tax Document Automation

GruntWorx, LLC — GruntWorx
800-291-2136
www.gruntworx.com

From the January 2013 review of Tax Document Automation systems.

Best Fit: Tax professionals who want a user-friendly way to quickly create organized and bookmarked PDF workpapers generated from source documents, and that can be used alongside any professional tax system. The optional auto-populate functions only work with specific systems, however.

Strengths

• Completely web-based means nothing to install and easy access from computer or mobile device with user-friendly interface
• Expanded management features enable detailed security access controls
• Saves time by organizing source documents into one pdf to prepare from; or importing the tax information into the tax software, eliminating data entry time.
• Auto-populate feature works with Drake, GoSystem Tax RS, ProSystem fx Tax and UltraTax CS.
• Integration with Tic, Tie & Calculate workpaper tool

Potential Limitations

• Average turnaround time for a completed organized PDF created from client source documents is two to four hours, but license allows for up to 24 hours. Therefore, it is not suited to high volumes of simple returns or retail kiosk type preparers.

The GruntWorx system is designed to give tax firms a completely web-based solution that automatically performs the often tedious tasks involved with compiling client source documents. It does so in a way that provides the firm with digital workpaper PDFs that can be edited and annotated. Gruntworx, LLC, is a Drake Enterprises company.

Core Product Functions/Features: 5 Stars

The main interface is the GruntWorx dashboard, a well-designed and easy to use screen that makes it simple to select clients, upload files into the program, and then download completed digital workpapers. The system’s client list provides options for searching, filtering and sorting by various factors, and also allows client information to be imported from CSV files.

Security functions allow administrators to assign user access rights, including clients and client groups, while additional functions are available for setting standard preferences or for users to customize personal settings. GruntWorx is recognized by CPA2Biz a subsidiary of the AICPA, as a Trusted Business Advisor Solution.

There are three separate program offerings under the GruntWorx name that can be used together or individually. First, with the GruntWorx Organize system, users scan and upload client source documents and the system then uses optical character recognition (OCR) to create a bookmarked PDF. The system can identify what types of forms are what (1099, 1098, W-2, etc), so that the resulting workpapers group tax documents by type (wages, interest income, deductions, etc.) and form, and identifies the issuer of the tax document in the bookmark name.

The GruntWorx Populate system performs the same PDF workpaper creation functions as GruntWorx Organize and takes it a step further, identifying specific data on specific lines on forms and allowing users to have that data automatically populated onto the appropriate forms and schedules of a client’s return. This feature works with the following tax programs: Drake Software, UltraTax CS, ProSystem fx Tax and GoSystem RS.

For tax firms who have clients with more extensive investment activity, the GruntWorx Trades program can pull information from consolidated brokerage statements and create an Excel spreadsheet with the data. From there, it can be tied out to a 1099-B, and the data imported into a client’s Schedule D.

Paperless Workflow: 4.5 Stars

One of the key time and resource saving factors in going to an automated workpaper solution like GruntWorx is that the “grunt work” part of building client files can be easily handled by non-professional administrative staff. With GruntWorx, client source documents can even be scanned and uploaded in any order, since the program uses advanced recognition technology to identify which documents are which, and then groups them appropriately.