Tenenz – Laser Link – W2/1099 Review
From the Nov. 2012 Review of W-2 and 1099 Preparation programs.
Best Fit: Practices managing year-end compliance and reporting for multiple small business clients
- Easy interface and data entry
- Unlimited free e-filing
- Limited import, export and integration capabilities
- No built-in invoicing feature
Tenenz, provider of business management products for accounting firms, offers two programs for year-end compliance management and reporting, TFP and Laser Link. Both programs are traditional W-2/1099 filing solutions and offer many of the same features: free e-filing, various security features and the ability to manage multiple clients. However, TFP is used to print on pre-printed W-2 and 1099 forms, while Laser Link, reviewed below, allows users to print on pre-printed or plain paper. Tenenz also offers a third, web-based solution, efileforbusiness.tenenz.com, for firms with a low volume of returns and wish to work completely online.
Basic System Functions: 4.5 Stars
Laser Link is an on-premise solution designed to be installed on individual workstations. The program has several user guides and step-by-step instructions built into the program. The program guides users through the initial setup and data entry for clients and payers, as well as setting up defaults. Data is displayed in a spreadsheet view and users can search through entries using various sort options. Several videos and tutorials will guide users through different “How-To” scenarios.
The program automatically replicates client data and automatically calculates FICA wages and withholdings. A diagnostic tool is built-in the program to identify any data entry errors, allowing users to review and correct errors before printing or submitting forms.
Reporting: 4.25 Stars
New this year, Laser Link offers unlimited free e-filing for federal and state forms. The software also provides support for multi-state W-2s, as well as for forms W-2, W-2G, 1099-B, 1099-Div, 1099-Int, 1099-Misc, 1099-Patr, 1099-R, 1099-S, 1098, 1098-T and 5498. The efileforbusiness component supports the same forms, as well as 1042-S, 1099-A, 1099-C, 1099-H, 1099 PATR, LTC, OID and 5498-SA. Users can select which state forms and which client reports to print using the software’s batch printing options.
Laser Link also generates detail and summary reports for each form, blank W-9s, recipient lists and form totals reports. Users can export reports to Word and PDF documents, with the option to mask TINs. Other security features include SSN masking, password protection and database encryption. Laser Link also supports digital signatures. There is no capability to integrate with outside software or import various file formats. Laser Link does not have a built-in billing feature.
Import/Export/Integration: 3.75 Stars
Laser Link does not support the import of various data formats nor does it offer direct integration with outside payroll, accounting and timekeeping applications. It will import ASCII delimited files and export to email and Word and PDF formats. It also allows for the rollover of client data from the previous year.
Help/Support: 4.5 Stars
Laser Link offers user guides both in the program and on their customer support website. User tips are also built into the program to guide users through preparing, printing and filing forms and importing data. Several video tutorials are also available as well as live support. The program automatically checks for system updates at startup.
Summary & Pricing
Laser Link is designed for use by small accounting firms to generate year-end reports for their small business clients. Pricing for the software costs $59.99. The TFP counterpart, which prints only to pre-printed forms, costs $39.99. Tenenz also offers a completely web-based and electronic solution for filing W-2s and 1099 forms online.
The efileforbusiness.tenenz.com SaaS application electronically files W-2 and 1099 Federal copies to the IRS and SSA, and efiles certain 1099 form types to states that participate in the combined Federal/State Filing Program (CFSFP). efileforbusiness.tenenz.com also mails a copy to the W-2 and 1099 recipients and retains a PDF copy for the preparer. Pricing for this solution ranges from $3.95 to as low as $1.25 per form depending on volume.
2012 Overall Rating: 4.25 Stars
See inside November 2012
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