When was the last time you were worried you did not have enough resources to prepare tax returns for your existing clients? If you run a tax and accounting firm, the odds are that you are constantly thinking of optimizing productivity with the best tax software available in the market.
From preparing tax returns to dealing with multiple tax files to adding more clients to your initial base, you think about everything you can do to get things done accurately and on time. But have you chosen the most suitable tax software to support various activities at work based on what your clients expect from you?
You only know the truth well. If you feel the current tax software in use isn’t enough and it often creates hurdles in handling the tax season chaos, now is the time to switch to ProSeries tax software. In short, Intuit ProSeries is a complete solution for tax preparers that can help them in filing tax returns easily.
When you are making the software selection, a one-liner definition might not be enough. You would want to know what it can do to streamline the tax preparation process. Without further ado, let’s get into the details of what makes ProSeries tax software a popular choice among tax professionals and whether you should opt for ProSeries tax software hosting.
Key Features of ProSeries Tax Software
In general, ProSeries tax software has two versions, namely Basic and Professional. As the name suggests, ProSeries Basic has entry-level features to help file individual returns. On the other hand, ProSeries Professional is meant for experts handling business returns. You will also benefit from the flexibility to select any of the three existing packages which are – 1040 package, Unlimited returns, and Pay-Per-Return.
Here are some of the primary features of Intuit ProSeries tax software.
1. Comprehensive form library
For tax professionals, one of the most important sides of successful tax preparation is easy to access to forms and schedules. Many beginners assume that they would not need many of the forms and schedules but they end up searching for them whenever the need arises. One of the reasons you should switch to ProSeries tax software is that it provides more than 3700 forms and schedules. These include 1040. 1041, the 1120S, 1120, 709, 706, and many others.
2. Data input assistance
ProSeries software has been designed with in-built tools that can help you fill the details in tax forms carefully. For example, you can use On-Screen Help to obtain required information from the existing knowledge base as you prepare and process tax returns. Similarly, you can benefit from Line-Sensitive Help to trace the source document for field data and figure out the information needed for a particular field.
3. Error-checking diagnostics
When it comes to filing tax returns, you want to ensure maximum accuracy of tax data. This makes sense when you look at the risks related to any error made during the tax filing process. Keeping that in mind, Intuit ProSeries tax software covers more than 1,000 error-checking diagnostics to add more accuracy to the tax filing process. In fact, the Professional version of ProSeries software has Forms Bar that you can use to locate errors in the tax return and fix them.
4. E-Signature
The process of signing documents has changed over the course of time from manual signatures to digital signatures. If you want to benefit from an IRS-approved way to sign tax documents digitally, you can benefit from E-Signature. As a ProSeries software user, you can collect signatures to be used for Form 8879. This feature also saves time that would otherwise be spent collecting signatures and asking for client approvals.
5. In-built Tax Planner
ProSeries tax software has Tax Planner as one of its prominent features that can help you estimate the tax payable for the 1040 return. You can access this feature under federal tax returns in both Basic and Professional versions of the software.
6. Easy add-on integrations
The complications related to tax preparation and return filing often require more functionalities than what a particular tax software can provide. This is where software add-ons come into the picture. To add more features to your licensed Intuit ProSeries desktop software, you can integrate various third-party add-ons like QuickBooks, SmartVault, eFileCabinet, etc.
Even if you switch to ProSeries tax software hosting, you can still host the add-ons with the software on a cloud server.
What about hosting this tax software on the cloud? Let’s find out.
More About ProSeries Tax Software Hosting
ProSeries tax software hosting refers to the cloud solution for tax professionals using which they can handle their tax preparation load smartly. It makes return filing easier and further enhances the primary features of the software. You can avail of ProSeries tax software hosting service from a third-party cloud service provider and benefit from the cloud in several ways.
Here are some of the primary benefits of ProSeries tax software hosting:
1. Remote access to ProSeries software
Desktop-hosted ProSeries software is only accessible through the system on which it is installed. But in time-sensitive situations where the tax returns are to be filed before a deadline, desktop hosting often creates restrictions at work. By switching to cloud hosting for your licensed ProSeries software, you can access it remotely and can even file returns on the go.
Given the rise of cloud computing as a backbone of everything that we do, you can also think of this transition as a forward-looking approach to growing your business.
2. Enhanced team collaboration
Team collaboration and efficiency are some of the few key metrics that can make or mar the results of the tax season for tax professionals. Irrespective of the size of your team, you may lose productive work hours if they are not well-connected to each other and work together on urgent tax preparation tasks. While this is not possible in the local-hosted environment, ProSeries tax software hosting can benefit you with higher productivity.
Once the tax software and data are hosted on a cloud server, your team members can work together on the same data file and make modifications in real-time.
3. Protection of sensitive tax data
Ensuring data security in an on-premise IT facility means significant investment in security measures. But what if you can get all those security benefits at a fraction of the cost? This is possible with ProSeries tax software hosting services. Renowned ProSeries hosting providers like Ace Cloud Hosting keeps sensitive tax data safe on their cloud servers. The security factor is managed and maintained with the help of measures like firewalls, access control, encryption, and more.
4. Reduced data redundancy
When you have multiple tax professionals for your firm, you might have redundant files saved on their individual computer systems. This is quite obvious as one tax file when modified by multiple users results in redundant data other than the final tax files taken in use to process returns. The best part is that you can reduce data redundancy with ProSeries tax software hosting.
To Wrap Up
Indeed, Intuit ProSeries tax software has numerous features that can make tax preparation and filing easier for you, thereby giving you much-needed peace of mind during the tax season. However, you can utilize its potential maximally by hosting it on a cloud server. Cloud hosting can add storage scalability, remote software accessibility, and many other advantages to your lap. The final decision to switch to cloud hosting is in your hands.
