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Discussion:Tax Software that suits my growing practice

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Discussion Forum Index --> Business Growth Community --> Tax Software that suits my growing practice


Pjoo (talk|edits) said:

21 May 2007
I bought a tax practice from a retired CPA last year May, 2006. After I completed my first tax season on my own practice, I finished about 250 individual 1040 and about 65 business returns (including 1120, 1065, 1120S, 990). For 1040, I used TaxAct and for busines returns, I used Drake.

what kind of tax and writeup software do you recommend if I want to save my processing time by (1) trasferring tax input data without munual input from writeup software to tax return (2) saving tax file into PDF format, (3) doing inexpensive efiling capabilities? Thank you for your any input.

Pjoo, CPA in California.

Bottom Line (talk|edits) said:

21 May 2007
I am a QuickBooks and ProSeries fan. QuickBooks is affordable and you will find that many/most small businesses use it. You can expand your practice from tax and writeup to reviewing/correcting the QuickBooks entries of small business people and charge good dollars for it. I just love the fact that you can go to Office Depot/Staples and buy QuickBooks off the shelf. Small business people then think that this will do all their accounting for them. As an accounting professional, you will have nightmares when you see all the ways people can screw up their bookkeeping. This means money for you! Image:smile.jpg

I would recommend using one brand of software for taxes. That way you only have to learn one software and have one company to call for tech support. QuickBooks, Quicken, ProSeries, LaCerte, and TurboTax are all made by Intuit. QuickBooks will export directly to ProSeries however I have never used it. I print the balance sheet and P&L from QuickBooks and then key the numbers into ProSeries. That gives me a chance to doublecheck that the totals look correct. You also have to make sure your QuickBooks set up is perfect on each data file and you'll never be able to make sure all the files that your clients have done are set up right. (You'll spend more time checking their set up than keying the return.)

ProSeries transfers info from one year to the next so you don't have to rekey things like depreciation and capital loss carryforwards. ProSeries can print to PDF (I believe that's a new option this year) but I haven't used it.

ProSeries has package options for things that you use frequently such as 1120S's and efiling and also has pay per return options for things you do infrequently (in my case state returns and 990's).

(Tim - I'll let you know where Intuit can send my commission check Image:smile.jpg)

Pjoo (talk|edits) said:

21 May 2007
Bottom Line,

Thank you for your input. I will contact ProSeries and mention your name.

Pjoo

JimS ME (talk|edits) said:

21 May 2007
I personally don't like the reports that come from QuickBooks when I have to issue a compilation report with them. I use QuickBooks Pro's export feature to create Excel spreadsheets and then make the customizations required.

But I concur that QuickBooks & Proseries is a good combination (I use them both).

I would also consider purchasing Adobe Acrobat Professional, as you can print to PDF from any software, customize your PDF files, combine files, etc. Also, you can create a digital signature to sign the PDF so when your client prints his/her tax return at a later date your signature still comes out as preparer.

Jim

Pjoo (talk|edits) said:

21 May 2007
Jim S. Me

Thank you for your input. What kind of write up software do you use for your practice?

Pjoo

Janakpatel (talk|edits) said:

22 May 2007
I use Quickbooks. Best software to keep track of all the entries with memos, and very convenient to make balancing entries.

I use Ultratax CS at work, very good software, Proseries is my second choice. I use it at home.

Pjoo (talk|edits) said:

22 May 2007
Janakpatel

Thank you for your input. I will look into Ultratax CS also.

Pjoo

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