CCH, a part of Wolters Kluwer, recently announced new software enhancements for two its solutions – ProSystem fx Engagement and ProSystem fx Knowledge Coach. CCH provides tax, accounting and audit information, software and services.
The solutions also feature added optional support from Accounting Research Manager, ProSystem fx Tax and the IntelliConnect research platform.
“Partnering with our customers and listening to their feedback has always been a priority in building new solution functionality that makes their jobs easier,” said Cathy Wright, Product Line Manager, Accounting & Audit Solutions. “Our latest Engagement and Knowledge Coach solutions are direct results of what customers told us they needed to better execute government and non-profit audits, as well as less-complex engagements of all sizes, throughout the year.”
The newest version of Engagement now offers a new type of trial balance for working with funds. Users are able to setup fund types and subtypes, providing greater efficiency. This new enhancement enables users to define a broader view of all fund balances, which can be reviewed in the fund trial balance and fund trial balance reports. Engagement is a central hub for importing raw client data, preparing financial reports, exporting completed data to tax returns and tracking, reporting, reviewing, adjusting and archiving key client information
Fund accounting is a system used by not-for-profit organizations and governmental entities where there are multiple funds. Each fund is a self-balancing set of accounts that are kept separate in accordance with laws, regulations or specific restrictions and limitations that may apply. This new level of depth makes working with consolidated accounts, government and not-for-profit work more efficient.
Other new Engagement features include the ability to assign accounts to groups or subgroups; enhanced binder synchronization; and one-click sign off of workpapers.
Supported by Knowledge-Based Audit methodology for streamlining auditing, new Knowledge Coach features include support for multiple audit programs; improved peer-to-peer synchronization; enhanced workpaper tracking; and the ability to tailor non-complex engagements.New Knowledge Coach functionality makes it easy to work smarter on complex as well as non-complex engagements and all audits.