In this digital age, there are various options for tax preparers in terms of tax software solutions. However, the decision to choose tax software should be made after certain considerations. It can be the size of your tax firm, the customer support, features, or the budget.
Among the most popular tax software solutions, Drake Accounting Software is one of them. According to the 2019 tax software survey by the Journal of Accounting and The Tax Adviser, CPAs voted Drake as the most highly-rated software by giving an overall rating of 4.6 like the last year.
1. Drake Tax Planner
The Tax Planner feature is an integral part of Drake software that helps tax preparers to plan their clients’ taxes for the present season or the next year. With Tax Planner, the current tax status can be compared with different scenarios like marriage, change in income, or buying an asset.
To access Tax Planner: Go to Client’s Return > Tax Planner
2. E-signature
With Drake software, you can eliminate the need for manual signatures or stamps on the tax forms. E-signature is a useful feature for taxpayers and preparers, which enables them to sign tax forms like 8879 consent forms and bank applications for e-filing tax returns using a digital signature pad.
3. Data Backup and Restore
The clients’ tax data is the most important part of any tax process. Hence, it is only wise to take data backup to prevent any data loss due to unforeseen circumstances. Drake’s Backup and Restore feature offers multiple data backup options that can help tax preparers keep the tax data secure.Similar to the software like Cloud Based QuickBooks.
For instance, Drake offers the option to enable “Automatic Backup” for the data. There is also an option of Manual Backup, where you can specify the location where you want the backup to be taken (it can be either local or network location or the SecureFilePRO account). Moreover, with the option to perform a full or selective backup, the tax preparers can choose the critical files to backup.
The restore option lets you specify the location from where you want the files to be restored.
Tools > File Maintenance > Backup
4. Drake Scheduler
The Drake Scheduler feature lets you make appointments and add schedules for yourself as well as other tax preparers. It can also be used to send email appointments to clients for the required date, with the option of importing and exporting appointments from MS Outlook. The Drake Scheduler feature lets the tax preparers generate batch appointments for multiple clients and create organizers and proformas.
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