7 reasons why people find Drake Tax software productive in tax season

Tax season comes up with the memory of hassles faced in the last tax season by a CPA while preparing tax returns. As CPA’s works with many clients and he is required to file the tax return before the last date arrives as failing to do so may result into hefty penalty to the client as well as client dissatisfaction and bad publicity may result into loss of existing and some prospective clients as well. So, every CPA looks for such kind of software which makes tax preparation and tax return filing a smooth process. When it comes to the tax preparation software, there are few good brands in the market which have proved their worth when it comes to productivity while preparing tax returns.

Drake tax software is one of the tax software which focuses on providing maximum productivity with minimum efforts. Developers of Drake software has loaded it with the tools and features which eases out the burden with day to day business operations. The main focus of Drake as they state is to make one’s staff more efficient and productive so that one can spend maximum time with his client to build business with them. Following are the factors which brings Drake on top while choosing tax software:-

1) Time Savior:- Drake software is designed to help one to enter the data quickly which is the result of convenient form navigation and process returns. Drake requires minimum system requirements and its response time is really fast. Apart from that State and City returns automatically gets generated as data flows automatically from federal return. A CPA can easily pull the last year returns and use it if required. Drake also provides shortcuts and Macros which ensure lesser repetitive keystrokes. Drake comes up with Autofill feature, one can use EIN and ZIP Code databases to auto fill the address of the company while entering EIN in the form. While entering ZIP code will fill the city and state automatically. One can directly sca
W-2 or K-1 with 2d bar code which ensure data accuracy. Though it requires a 2d bar code scanner.

2) Improved Productivity:- Drake software allows you to go for multi-state returns at one go. Its navigation is really simple as well one can get the organized results while having the option to reset the order of printing the forms as per the requirement. Its Quick Estimator quickly estimates the Client’s refund with the help of few clicks and reduces the data entry to the minimum. One can easily generate reminders on notes for himself or for the colleague to update about the task been performed or yet to be performed. Feature of Amortization Schedules which fills the missing data also automatically calculates the payment amount. Other features like File Backups, Labels and Envelopes, Email and Blank Forms provides convenience to the tax preparer and hence improves the productivity ultimately.

3) E-Filing:- Tax preparers can attach PDF documents for tax returns via e-filing with Forms 1120, 1120S, 1065, and 990. One can store the documents in Drake document manager for future.

4) Intelligent Printing:- One can create password protected PDF copies of the tax returns to be sent to the client as well as print of electronic copy of the same can be stored in the Drake Document Manager. One can create different sets of print for different people for client, preparer, Paper Filing etc.

5) Interactive Diagnostic:- One can get the information including fees, refunds, note and e-filing eligibility through Calculations Results window while diagnostic can take the tax preparer to the problem form or field in case e-filing could not be performed due to error in the returns. At the same time, tax preparer gets a message automatically from the software which states about the return which may get rejected by IRS with error code and description. One can also use Archive Manager to save a return before any amendment. With the convenient comparison worksheet a tax preparer can easily compare and analyze client’s data for multiple tax preparers.

6) Easy export and import:- A tax preparer can easily import W-2, Schedule D, Trial balance and Year-end balance, as well as forms like child’s form 8615 and K-1 data from 1041, 1120S, and 1065 are easily exportable.

7) Compatibility with Cloud Environment:- Drake tax software smoothly works on Cloud Computing environment which means multiple people can work simultaneously on the same software without bothering each other from multiple locations. One can work on the tax application even while travelling away from office and get all the updated data as everyone works on the same software and data is centrally stored at a cloud server which is accessible from anywhere at any time. An application hosting service provider provides free Data backup and Tech support which adds value on it.