CCH Axcess Financial Prep now integrates with Xero, making tax preparation more seamless this U.S. tax season. The integration leverages the Xero application programming interface (API) allowing professionals to permit client data to flow directly to CCH Axcess Financial Prep. This eliminates the need for tax and accounting professionals to manually export, import or enter data.
The integration is generating excitement from professionals. Donna Bordeaux of Calculated Moves, PC shares, “We are excited about the new integration, in North America, between Wolters Kluwer and Xero. We will no longer have to spend time diagnosing why a return won’t balance or if an expense account entry was omitted. Using CCH Financial Prep allows us to standardize the review process and verify that the tax return and the trial balance truly match. We look forward to the coming tax season and the time savings this software will help our firm achieve.”
Xero’s Cloud Platform
Xero’s cloud platform makes it easy for accountants to prepare for the US tax season by providing a shared ledger where they can access up-to-date client data. Xero makes tax prep more efficient and more accurate with key features, including: Cash Coding to rapidly code a large number of transactions, Find and Recode feature to update thousands of line items at once, Bank Reconciliation to automatically import client bank transactions, Customizable Reports to create custom reports by seamlessly changing account groupings, inserting formulas and adding custom columns and rows, and the Xero HQ a hub to provide real-time visibility and insights across all of their clients.
“This partnership is all about bringing the power of Xero and CCH Axcess Financial Prep together to automate the flow of data between accounting and tax prep solutions,” said Herman Man, VP of Product for Xero Americas. “This API integration means that accountants can transfer the data they need from Xero into CCH Axcess with the click of a button, saving them time on administrative tasks so that they can focus on providing insights and advice to their clients.”
CCH Axcess Financial Prep
CCH Axcess Financial Prep is a part of the CCH Axcess platform. It is the end-to-end trial balance solution that eliminates the manual process of grouping accounts and creating tax reports. Foundational to the platform is removing the duplication of efforts in managing clients and staff in more than one solution. Key benefits of CCH Axcess Financial Prep include: Intelligent Account Grouping which eliminates tedious steps to group trial balance accounts and assign tax codes, CCH Axcess Tax Integration to efficiently complete business tax returns and Team Collaboration making CCH Axcess Financial Prep accessible anytime with real time updates.
“With our open integration platform, professionals can use the tools directly within CCH Axcess to easily integrate client account data, allowing them to spend less time completing tax returns and more time advising clients,” said Jim McGinnis, EVP and GM of Wolters Kluwer Tax & Accounting North America, Medium and Large Firm segment. “An integrated relationship between client data and our tax preparation software means we can deliver automation tools such as predictive intelligence to drive the professional’s strategic advisory services.”
To learn more, visit: https://taxna.wolterskluwer.com/professional-tax-software/axcess/financial-prep.