Most accountants will agree: doing taxes is complicated.
But the right tax software can make all the difference. ProSystem fx Tax is pioneering software that's transforming tax preparation for accounting professionals.
In this article, we'll look at what makes ProSystem fx Tax stand out, from its specialized tools to comprehensive training resources. You'll see why this software is taking the accounting world by storm.
Pioneering Tax Software for Accountants
Tax preparation has always been a complex undertaking for accounting firms, requiring significant time and expertise. However, new software solutions are radically transforming the capabilities and efficiency of tax professionals.
CCH Axcess Tax by Wolters Kluwer is one such software that is pioneering innovation for tax and accounting firms. By streamlining workflows and providing detailed analytics, and have accelerated tax preparation and filing.
The software features customizable dashboards to track KPIs for workloads and automated workflows to reduce errors and repetitive tasks. Bulk editing of returns, client correspondence templates, and centralized document management further optimize operations.
With data analytics, firms can identify growth opportunities and compare performance over time and across clients. The software also integrates predictive intelligence to flag potential issues in returns early.
By leveraging CCH Axcess Tax, firms can work faster and smarter while providing exceptional client service. The technology paves the way for strategic advisory and acting as a true financial partner to clients. As pioneers in tax software, CCH Axcess Tax represents the future of tax preparation and redefines what firms can achieve.
Why use a CPA over TurboTax?
Many people rely on tax preparation software like TurboTax to file their personal tax returns. The user-friendly interface and step-by-step guidance make DIY tax filing accessible.
However, TurboTax is designed for basic personal tax situations. As a small business owner or someone needing complex tax planning, a certified public accountant (CPA) offers specialized expertise beyond what consumer software can provide.
Here are some key reasons to choose a CPA over TurboTax:
- Business expertise: CPAs have extensive training in accounting, bookkeeping, and business taxes. They can optimize your business finances for tax purposes in ways TurboTax cannot.
- Complex tax situations: TurboTax is great for W-2 employees claiming the standard deduction. But self-employed taxpayers and those with investments, rental properties, etc. often need a CPA's know-how.
- Tax planning and strategy: Proactive tax planning from a CPA can save you far more than their fees. TurboTax focuses only on compliance.
- Audit support: Getting audited can be stressful. A CPA has the right qualifications to represent you in case of an IRS or state tax audit.
For DIY tax prep, TurboTax is a user-friendly choice. But for small business owners and those needing tax expertise beyond a basic return, partnering with a savvy CPA is wise. They can leverage in-depth tax knowledge to help you operate more tax-efficiently year-round.
Which tax software is best for tax preparers?
Tax preparers have a variety of software options when it comes to preparing their clients' taxes efficiently and accurately. When choosing which tax software is best for your business, key factors to consider include cost, features, support, and ease of use.
Of all the options on the market, UltimateTax stands out as a top choice. UltimateTax has been helping professionals for over ten years by providing innovative features tailored to tax practices of all sizes.
Some key benefits of UltimateTax include:
- Cost savings and automation
- UltimateTax provides significant cost savings over other solutions. Their software optimizes and automates tax preparation to improve efficiency. This allows you to take on more clients without adding staff.
- Comprehensive features
- The software has robust accounting integration, bank product importing, e-filing, and other tools to handle complex returns. Unique features like paperless office and workflow management further save time.
- Specialized support
- Get access to US-based CPA-level phone and chat support whenever you need help. They also offer regular tax law webinars and training tailored to tax professionals.
With UltimateTax's focus on the tax prep industry, customized features and support, and automation capabilities that drive productivity, it leads the market as the premier software for tax professionals. Evaluating your practice's specific needs and priorities will determine if UltimateTax is the right match to take your tax preparation to the next level. Reach out for a personalized demo to see it in action!
How much does Prosystems cost?
ProSystem fx Tax offers flexible pricing options to meet the needs of firms both large and small. As an industry leader trusted by over 40,000 accounting professionals, ProSystem fx Tax strives to provide exceptional value no matter your firm's size.
Renewal pricing is only available upon request, as the team at ProSystem fx Tax works directly with customers to ensure each firm receives a customized price quote catered to their unique needs. State tax preparation software renewal pricing ranges from $425 to $945.
For smaller firms interested in a pay-per-return pricing model, ProSystem fx Tax offers the following rates:
- $34.50 per 1040 federal return
- $29.00 per state return
- $41.00 per federal return (all other forms)
- $34.50 per state return (all other forms)
No matter the size of your firm, the team at ProSystem fx Tax is committed to delivering best-in-class tax software, support, and value tailored specifically for you. Reach out today to receive a customized quote designed to meet the evolving needs of your firm.
What is CCH Pro system?
CCH ProSystem fx is accounting software designed specifically for tax and accounting professionals to optimize firm workflows. As an on-premise solution, ProSystem fx integrates the entire client engagement lifecycle, from client data and document management to time tracking, billing, analysis, and reporting.
With customizable workflows and automated tools to boost productivity, ProSystem fx helps firms gain efficiency while ensuring the highest levels of accuracy and compliance with the latest regulations. Key features include:
- Unified client database to centralize engagement data from multiple sources
- Document management with version control
- Robust tax return preparation, filing, analysis, and planning
- Streamlined time and expense tracking
- Flexible billing rules engine and accounts receivable
- Custom reporting and business analytics
ProSystem fx enables seamless data sharing across integrated firm solutions from CCH Axcess. Designed for firms of all sizes, it provides scalable features to support changing business needs.
The software aims to save tax and accounting professionals time on administrative tasks so they can focus on providing exceptional client service. With powerful tools tailored to industry workflows, CCH ProSystem fx helps firms work smarter while ensuring accuracy and compliance.
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Best Tax Software for Tax Preparers: CCH ProSystem fx Tax
As tax preparers ourselves, we understand the importance of having a robust, intuitive, and secure tax preparation system to ensure efficiency, accuracy, and compliance for your clients. After testing the top solutions on the market, we can confidently recommend CCH ProSystem fx Tax and CCH Axcess Tax as the leading options.
Both platforms offer advanced capabilities, integration with CCH's renowned tax research solutions, and flexibility for firms of any size. However, certain key differences make each solution better suited for specific firm needs and preferences. Below we break down everything you need to know to make the right choice for your practice.
CCH ProSystem fx for Small Firms Pricing: A Cost-Benefit Analysis
For smaller firms with straightforward tax preparation needs, CCH ProSystem fx Tax provides exceptional capabilities at a very reasonable price point. ProSystem fx scales from a single preparer up to dozens of users under flexible licensing options:
- Single Preparer License - $1,300 per year
- 2-5 Preparer Office License - $2,000 per year
- 6-10 Preparer Office License - $4,000 per year
Unlike other tax software catered to enterprise firms, ProSystem fx does not charge by return. This allows smaller firms to handle fluctuating workloads each year without their software costs drastically changing.
For the affordable pricing, ProSystem fx still packs an incredible range of features including:
- Robust tax preparation, filing, management, analysis, and workflow tools
- Integration with CCH Axcess Tax Research and IntelliConnect tax research solutions
- Intuitive desktop interface or web-based for remote access
- Scales from single preparer to dozens of users
- Fixed, predictable licensing model not based on returns
For small CPA firms, boutique tax specialty shops, and independent preparers, ProSystem fx delivers enterprise-grade tax preparation power an budget-friendly price point. The value proposition is incredibly compelling.
CCH Axcess vs ProSystem fx: Choosing What's Best for Your Practice
While both CCH Axcess Tax and ProSystem fx Tax offer robust capabilities, certain factors make one solution preferable over the other depending on firm size, needs, and preferences:
ProSystem fx Tax is ideal for:
- Firms with 1-50 preparers
- Hands-on desktop environment preferred
- Lower and more predictable costs
- Niche boutique tax practices
- Firms with fluctuating return volumes
CCH Axcess Tax is better suited for:
- Larger firms with 50+ preparers
- Cloud-based and mobile access preferred
- Usage-based pricing model per return
- Full suite platform beyond just tax prep
- High volumes of 1040/1065/1120 returns
Understanding these differences allows firms to match their priorities and constraints to the best fitting solution. For example, smaller firms may prefer ProSystem fx Tax for the lower fixed costs while larger firms benefit more from Axcess Tax's enterprise scalability.
As you evaluate options for your firm, feel free to request a personalized demo and pricing quote from our team of tax software experts. We're happy to answer any questions and recommend the ideal solution to meet your current and future goals.
Comprehensive CCH Tax Software Download and Setup Guide
Transitioning to a new tax preparation software can be daunting, but CCH ProSystem fx makes the process smooth and efficient. As a market leader providing innovative solutions for over 100 years, CCH ProSystem fx Tax simplifies even the most complex returns with advanced automation, efficiency tools, and robust reporting.
With secure cloud access, collaborative workflows, and centralized organization, it enables seamless preparation, review, and filing of corporate, partnership, fiduciary, and individual tax returns. Its award-winning interface coupled with powerful computation ensures accuracy, consistency, and compliance across all tax forms.
Downloading CCH ProSystem fx Tax
CCH offers flexible purchase options to meet the unique needs of your firm. Whether opting for on-premise or cloud deployment, perpetual licensing or subscription models, their consultative sales team provides tailored recommendations based on your workflow, staff size, and client complexity.
Once purchased, simply visit their online account portal to gain instant access to the tax preparation software download links, registration keys, and installation instructions conveniently in one place. Expect a quick and smooth setup process.
Key Features and Capabilities
With CCH ProSystem fx Tax, your team gains complete control over the entire tax preparation lifecycle:
- Centralized Data and Workpaper Management - Standardize processes with central storage of all client returns, tax data, and documentation. Multi-user access facilitates real-time collaboration.
- Automated Tax Forms and Schedules - The tax engine seamlessly handles computations, carryovers, validations, and workflows across 100+ federal, state, local, and international tax forms.
- Review Tools - Diagnostics, cautions, and risk assessments highlight potential issues to improve accuracy. Digital signature support enables paperless sign-offs.
- E-file and Reporting - Securely e-file all returns directly with tax authorities. Robust reporting provides key insights.
With robust training resources like context-sensitive help, video tutorials, and knowledge base articles, your team can fully leverage these capabilities right away.
Setting Up CCH ProSystem fx Tax
The guided installation takes just minutes. Simply double-click the downloaded executable file and follow the prompts to install core applications like the tax preparation and filing software, Microsoft SQL Server database, and Office Tools.
After installation, launch the Tax Preparation application to initialize the main database. The easy-to-use interface features an intuitive ribbon design with logical grouping of features by preparation stages. Easily customize configurations like tax form preferences, filing instructions, diagnostic settings, and more during the setup interview.
While administrator rights are required for the initial setup, other users can seamlessly access the tax software via desktop shortcuts. Optional tools like the Microsoft Office integrations, mobile apps, FTP utilities, and CCH Axcess Portal can be configured as needed.
With award-winning innovation and reliability from an established leader like CCH, modernizing tax preparation processes has never been easier. Their consulting teams help develop customized implementation plans to ensure a streamlined transition and maximum user adoption. With CCH ProSystem fx Tax, accounting firms can elevate efficiency, consistency, and productivity year after year.
ProSystem fx Tax Tutorial: Mastering Tax Preparation
ProSystem fx Tax is a powerful tax preparation and compliance software that helps accounting firms streamline their tax processes. As one of the most widely-used solutions on the market, mastering ProSystem fx Tax is key for firms looking to work more efficiently and profitably.
This tutorial covers best practices and strategies for leveraging ProSystem fx Tax to facilitate return preparation, review, and filing. We'll explore features and functionalities that enable firms to complete more returns with higher accuracy and in less time.
Importance of Tax Preparation Software
Tax preparation software has become invaluable for easing the burden of tax compliance for firms and taxpayers alike. Solutions like ProSystem fx Tax provide a centralized platform for organizing client documents, preparing returns, running diagnostics, managing workflow, and more.
Key benefits include:
- Efficiency: Automates tedious tasks so preparers work faster. Easy return routing, diagnostics, error-checking, etc.
- Accuracy: Reduces human error by automatically calculating complex provisions. Diagnostics identify issues.
- Scalability: Handles high return volumes without compromising quality.
- Collaboration: Enables secure return access across unlimited firm users.
By leveraging purpose-built tax software, firms complete more returns accurately in less time. This means higher capacity, lower risk, and bigger profits.
Optimizing Return Preparation
Preparing client tax returns is the foundation of an accounting firm's operations. To work efficiently, firms should optimize their tax preparation process using built-in ProSystem fx Tax capabilities:
Input Organizer View
The innovative Input Organizer provides a centralized view of all client documents, return forms, diagnostics, and more during preparation. This eliminates toggling between screens while allowing for intuitive, streamlined data input.
Auto-Fill Features
Smart Practice Aids leverage firms' existing client data to automatically pre-populate current year returns, reducing redundant data entry. Quick Alerts also flag potentially inaccurate auto-filled information.
Calculations and Validations
Automatic calculations eliminate manual errors while real-time diagnostics validate return accuracy as preparers work. This identifies issues early when easy to correct.
Collaborative Preparation
Unlimited ProSystem fx Tax users can securely access returns simultaneously for seamless multi-preparer collaboration. Preparers see real-time updates from others.
With optimized workflows, preparers work more accurately and efficiently. This facilitates completing higher volumes of complex returns in less time.
Streamlining Return Reviews
After preparation, returns must be rigorously reviewed to guarantee accuracy before filing. ProSystem fx Tax enables comprehensive yet efficient reviews via:
Custom Review Items
Firms can create unlimited review items and diagnostics tailored to their workflows and risk standards for consistent, comprehensive reviews.
Review Notes and Changes
Reviewer edits and queries are logged real-time so preparers instantly address notes. This eliminates back-and-forth delays.
Return Diagnostics
Detailed return diagnostics identify issues like incomplete forms, questionable values, changed data, and more for transparent reviews.
Collaborative Sign-Off
Multiple reviewers can annotate returns simultaneously to expedite the review process through collaboration.
Optimized review functionality reduces bottlenecks around quality control and sign-off by enabling transparent yet accelerated collaboration. This allows higher return throughput with air-tight accuracy.
Facilitating Return E-Filing
ProSystem fx Tax enables advanced e-filing directly to tax authorities and back-office solutions like CCH Axcess. Key features include:
Single-Click E-Filing
For eligible returns, e-filing to taxing authorities is as easy as a single click after sign-off.
Batch E-Filing
Easily e-file high volumes by selecting multiple returns to process and transmit simultaneously.
Automatic Reconciliation
Successfully e-filed returns are automatically updated with acknowledgement details for immediate reconciliation.
Secure Archiving
Digtally signed e-file copies are automatically archived to the client for long-term storage.
Smooth e-filing integration eliminates the hassles of preparing separate e-file packages, managing e-file rejections, matching acknowledgements, archiving returns, and more. It's all automated.
Conclusion
Mastering a purpose-built solution like ProSystem fx Tax enables accounting professionals to work more productively and profitably. Intuitive features streamline return preparation, review, diagnostics, e-filing and everything between by eliminating tedious manual processes. This lets preparers handle growing complexity and volume without compromise. The key is optimizing built-in functionality.
CCH ProSystem fx Tax Training: Empowering Your Team
CCH ProSystem fx Tax is one of the most powerful yet intuitive tax preparation and compliance software solutions available today. As firms adopt CCH ProSystem fx Tax, investing in training is crucial to maximize productivity and leverage the platform's full capabilities.
To support firms during onboarding and beyond, CCH Axcess Tax offers flexible training resources to equip staff at all levels with the knowledge needed to excel.
Instructor-Led Virtual Training
CCH ProSystem fx Tax provides live virtual training sessions, led by subject matter experts. These interactive classes allow participants to ask questions and receive hands-on guidance tailored to their firm's needs.
Popular topics covered through instructor-led training include:
- Get Started Workshop: An orientation overviewing key features like the CCH Axcess Tax workflow, binders, tax return templates, and collaboration tools. Perfect for new users.
- 1040 Workshop: A deep dive into individual tax return preparation, planning, and review workflows.
- Workflow Best Practices: Recommendations and tips for streamlining processes firm-wide through standardization, automation, and collaboration.
- Managing Multiple Office Locations: Guidance on effectively supporting multi-site firm operations, with best practices for shared access, automation, and cross-location workflows.
These live training sessions range from 60 to 90 minutes. They can accommodate individuals or groups based on firms' learning preferences.
Self-Paced E-Learning
In addition to live training, CCH Axcess Tax provides an extensive catalog of on-demand e-learning courses and video tutorials. These self-guided learning resources allow staff to build CCH ProSystem fx Tax skills at their own pace.
The e-learning curriculum contains over 60 hours of training content spanning platform navigation, return preparation, specialty topics, and more. Users can browse the course library and select relevant sessions to fit their learning needs.
Key training series within the e-learning catalog include:
- CCH Axcess Tax New User Series: Foundational training for getting started with the platform.
- Tax Prep Series: Comprehensive tax return preparation workflows for various entity types.
- Tax Planning Series: Strategies and best practices for tax planning and projections.
- Specialty Topics Series: In-depth reviews of niche issue areas like foreign reporting requirements, accounting methods, rental properties, and more.
Supplementing courses are quick tip videos demonstrating specific features. These bite-sized tutorials are perfect for a quick refresh on workflows.
Customized Training Services
For firms seeking training tailored to their unique requirements and use cases, CCH Axcess Tax offers customized onboarding and training packages. These flexible solutions are designed around each firm's team, clients, preferred workflows, and learning objectives.
Custom training equips staff to hit the ground running while establishing standard operating procedures optimized for efficiency. Sessions can focus on firm-specific return types, workflows, integrations, and other priorities.
By combining instructor-led, self-paced, and customized learning, firms can create a comprehensive CCH ProSystem fx Tax training curriculum for long-term success. With robust resources scaled to all expertise levels, staff will gain the confidence and skills to maximize productivity.
Adoption Strategies for Long-Term Success with ProSystem fx Tax
Integrating a new tax preparation system like ProSystem fx Tax can enable accounting firms to work more efficiently and provide better service to clients. However, realizing these benefits requires getting team members to fully adopt the new platform. Here are some recommendations for driving adoption from day one through continual improvement over time.
Training Resources to Get Up to Speed with ProSystem fx Tax
Onboarding onto a sophisticated tax software like ProSystem fx Tax will understandably come with a learning curve. Providing proper training resources helps get all users comfortable with key features and workflows. Consider these training options:
- CCH ProSystem fx Tax Training: CCH Axcess offers comprehensive training programs to guide firms through ProSystem fx Tax. Self-paced courses, live virtual sessions, and on-demand videos cater to different learning styles.
- Lunch-and-Learn Sessions: Schedule short, focused training segments during lunch hours. Review specific features daily until the team has confidence using the system.
- Job Aids and Quick Reference Guides: Create simple, step-by-step instructions for key tasks. Place guides next to workstations for quick access when users need it.
Sufficient training upfront prevents struggles down the line. Allocate resources to sharpen ProSystem fx Tax skills, whether through CCH courses, informal peer learning, or daily practice. The goal is getting all preparers, reviewers, and administrators working efficiently on the new system.
Continual Improvement Over Time with CCH ProSystem fx
The first tax season on a new preparation system won't be perfect. As the years go by, continue reinforcing adoption to optimize use of CCH ProSystem fx Tax platform. Here are some long-term strategies:
- Address Challenges Quickly: Keep open communication channels to promptly resolve any pain points users face over time. Provide additional training and support where needed.
- Refine Workflows: Analyze usage data and feedback to streamline ProSystem fx Tax workflows. Automate manual processes for greater efficiency gains.
- Upgrade Features Annually: Consistently upgrade to the newest version of ProSystem fx Tax to benefit from the latest CCH Axcess features and innovation.
Getting comfortable with new tax software is a journey, not a race. Continually nurture ProSystem fx Tax adoption across years, not just the initial rollout. Consistent training and optimizations cement the platform as an invaluable asset that tax professionals prefer using daily. The payoff is maximizing the return on investment from the CCH Axcess solution.
The Future of Tax Preparation: Innovations on the Horizon
As a trusted staffing agency focused on accounting and finance, Vintti understands the critical role technology plays in advancing the accounting profession. Recent innovations in artificial intelligence, machine learning, and predictive analytics are rapidly transforming tax preparation software.
Leveraging AI and Machine Learning
Leading solutions like CCH Axcess are integrating intelligent capabilities to simplify complex tasks. AI can help automatically identify relevant tax codes and precedents for a company's situation. Machine learning algorithms can then predict optimal paths forward based on statistical patterns in prior years' tax returns. This augments and accelerates the tax strategizing process.
Over time, AI assistants may even suggest personalized tax recommendations tailored to a firm's unique needs and goals. Though AI cannot wholly replace human expertise, these smart features help preparers focus time on high-value analysis rather than repetitive data entry.
Predictive Modeling and Insights
Beyond automation, future tax platforms may incorporate predictive financial modeling capabilities. Using a company's historical finances, these tools can forecast the potential tax impact of various growth and investment scenarios.
Preparers can leverage predictive insights to better advise clients on optimal tax minimization strategies. As with AI, predictive analytics will enhance human expertise - not replace it. This allows firms to provide even more strategic counsel to help businesses plan for long-term success.
In closing, solutions like ProSystem fx will continue pioneering innovations that expand the capabilities of accounting professionals. As leaders in specialized staffing, Vintti stays apprised of such advancements to ensure the professionals we recruit integrate seamlessly into a firm’s existing tools and workflows. Contact Vintti’s experts to learn more about how our talent solutions support firms navigating the future of fintech.
