2016 Review of Wolters Kluwer – ProSystem fx Tax

• The tax compliance system is part of a comprehensive suite of integrated accounting and practice management products
• Well-designed interface offers intuitive navigation and drill-down access to related forms, schedules, worksheets, state forms and inter-related returns
• Strong diagnostic tools that find omissions and inconsistencies, tracks overrides
• Centralized return management overview offers details on return status from initial client interview, through preparation, review and electronic filing
• Optional add-ons for advanced practice management, tax planning

CCH ProSystem fx Tax is a professional tax preparation and management program that can be used as a stand-alone system or as part of a broad suite of professional tax, engagement and firm management tools and resources. The desktop-based system can be installed across a firm’s servers, with the number of users depending on the firm’s subscription with Wolters Kluwer, which makes the CCH suite of applications.

Core Product Functions/Features: 4.75 Stars

The program offers preparation, research and management capabilities for all federal and state annual income reporting returns: 1040, 1041, 1065, 1120, 1120s, 990, and 5500, plus estate and gift tax returns.

CCH ProSystem fx has a user-customizable home screen that lists all client engagements the user has access to and shows return status and pending actions. The client selection list also offers search and filter options. Security features limiting the roles and activities users can perform. The system’s preparation processes are user-friendly and also innovative, with a sliding data entry format design, with data entry fields that follow the structure of the form being worked on. Forms offer automatic calculation, with data routed to appropriate form lines and supporting schedules and worksheets. The program includes thousands of state, federal and local forms, with most available for e-filing.

The newest features added to CCH ProSystem fx Tax include the My1040 Data utility, which offers a web-based tax organizer firms can send to clients that simplifies the gathering of tax information for individual clients. The organizer was designed with input from clients and firms with the goal of providing an easy-to-use system with flexible data input methods and status tracking functions. For the 2015 tax year, enhancements were also made to e-filing functions, amortization reporting, drill-down capabilities and for filing extensions.

An email feature offers automated notifications to preparers and clients when electronically processed returns are accepted by the IRS. A reminder tool also sends emails to clients alerting them to tasks such as missing data or final sign-offs.

Integration Options: 4.75 Stars

As noted previously, the CCH ProSystem fx Tax program can be used independently, but firm’s realize greater efficiencies when it is used as a part of the comprehensive CCH ProSystem fx Suite, which includes programs for tax planning, tax document automation (scan, organize and populate), engagement, document and practice management, research, audit processes, asset management, and even website tools for firms. Data in the core tax and practice programs flows seamlessly as necessary into other programs, helping streamline engagements and firm management.

For research and tax guidance issues, the program offers tight integration with the CCH IntelliConnect platform, which offers extensive primary resources on taxes at the federal, international and state levels, as well as analysis from tax and legal experts. The platform includes tools that directly associate clients that may be affected by new tax legislation or case rulings. The CCH ProSystem fx Trial Balance system can import data from QuickBooks and other business accounting systems. The CCH ProSystem fx Suite offers some integration with Microsoft Office programs.

Paperless Workflow: 4.75 Stars

With the ProSystem fx Scan utility, firm administrative staff can scan client source documents, which are then automatically sorted into proper engagement order and converted into a comprehensive set of PDF workpapers for individual and fiduciary returns that are organized and bookmarked. After review, the data can then be imported into a client’s return (using the optional AutoFlow system), eliminating a good amount of manual data entry and time spent pulling data from the documents.

Additional paperless workflow options are also available in CCH Axcess Document that integrates with CCH ProSystem fx Tax, with automated retention functions and digital file backup. CCH Portal offers client collaboration tools for sharing client documents securely, while the CCH eSign system provides support for electronic signatures on tax forms, engagement letters, W-9s and other documents.

Remote Capabilities: 4.75 Stars

Firms can implement CCH ProSystem fx Tax as a remotely accessible hosted application using CCH Global fx. This provides firms with the same interface, workflow and utilities as the installed version. Users access the system via their browser.

Help/Support – 4.75 Stars

Users of the CCH ProSystem fx program can access line and form-specific help and instructions as they make their way through data entry forms, and also have direct access to research and guidance if used in conjunction with the CCH IntelliConnect research platform. The system also offers a traditional program help utility, while online resources include a Knowledge Base, FAQs, data analysis tool, various guides and references, and access to on-demand training options.

Summary & Pricing

The CCH ProSystem fx Tax compliance program provides comprehensive tax capabilities for all client entities, with extensive productivity tools that streamline engagements and increase productivity. The system includes deep integration with the CCH IntelliConnect research platform, and offers strong paperless workflow options. Pricing for the program depends on firm usage, options and entities supported, with packages starting at about $3,700. A “Pay As You Process” option is also available.

2016 Overall Rating: 4.75 Stars