Financial Reporting
2014 Review of Tenenz – Laser Link
Oct. 10, 2014
Laser Link is an easy to use year-end compliance reporting solution. Built around forms data entry screens, the system is easy to navigate and use. New for the current release is compatibility with Windows 8/8.1.
Basic System Functions – 4.5 Stars
Laser Link is a locally installed solution but is also capable for use in a multi-user, network environment. Laser Link provides an easy data entry layout with each of the on-screen tax forms mirroring the actual IRS forms. The software system supports an unlimited number of payers and recipients.
The Laser Link software system is designed to complement manual sourced data or situations where the accounting system compliance reporting is missing, inadequate or an expensive add-on module. A wizard will guide users through the software and will prompt them as appropriate to fill in W-2 and 1099 forms.
Laser Link includes an encrypted database within the system that encrypts all files. In addition, the first five digits of all Social Security Numbers are masked.
Reporting – 4.5 Stars
Laser Link supports all W-2 and most 1099 forms as well as a few other year-end compliance forms. Printing features are natively included with Laser Link and can print on either preprinted forms or plain paper. Additionally, Laser Link provides support to export forms to PDF formats.
Laser Link provides a platform for fast and easy electronic filing of information returns. Electronic filing fees are included in the licensing for the first 25 compliance form filings. An electronic filing utility offers quick and easy access to the IRS and Social Security Administration sites for file uploads. Instant communication regarding status of the files is also available.
Integration/Import/Export – 4 Stars
Laser Link includes a rollover utility to assist users in moving data from the prior year. Recent enhancements have increased the functionality for the current release. A backup and restore utility is included to assist users with data backups and restores and is accessible at any time.
Templates guide users through data imports from Microsoft Excel or text files. Currently, Laser Link does not support any other import file types or native accounting solutions.
Help/Support – 4.25 Stars
Traditional drop-down menus provide in-program help for users. The in-program help consists of a quick start guide and information on navigating through the program and entering/importing data. Phone and email support are available during normal working hours. A dedicated support website provides a searchable “how to” program help as well as a troubleshooting knowledgebase. System updates and enhancements happen automatically upon opening the software. All help and support options are included in the annual licensing fees.
Best Firm Fit
Accounting professionals looking for an inexpensive solution for a small number of year-end forms compliance and processing
Strengths
- No separate module for printing on plain paper
- Cost effective solution for small organizations
- Data entry screens mirror printed forms
Potential Limitations
- Limited import capabilities
Summary & System Pricing
Laser Link is a cost effective system designed to complement manual accounting systems. Pricing for Laser Link is currently at $61.99 and includes 25 free electronic filing forms. Pricing for additional forms currently ranges between $1.00 and $3.95 depending upon form electronic filing needs. A sister solution, called TFP, is offered and includes much of the same functionality as Laser Link, but does not support plain paper printing. Pricing for TFP is currently $41.99.
2014 Overall Rating: 4.25 Stars