CCH, a Wolters Kluwer business – ProSystem fx Trial Balance

The interface of ProSystem fx Trial Balance is simple in design and maintains a spreadsheet style presentation for most data screens. The trial balance home screen view is fully customizable and may be set to display a large array of columns, including prior year balances, current year unadjusted balances, adjustment columns for each type of journal entry made and various tax and financial grouping schedules, among others. Each account may be mapped to specific tax code lines and financial statement lines to aid in tax return and financial statement preparation, respectively. Accounts may be mapped individually or in batches. Users also have the ability to fully customize the tax and financial grouping schedules.

ProSystem fx Trial Balance supports virtually any journal entry type. All journal entries may be hard coded by hand by users that are familiar with the underlying client account numbers. Alternatively, users may rely on various menu options that guide users through the journal entry process. In either instance, journal entries are exceptionally easy and intuitive to enter. Users may also create new accounts throughout the system and do not need to be on the home screen to start the process.

One strong feature of ProSystem fx Trial Balance is the ability import data from nearly any accounting system, including Creative Solutions Accounting and the most recent versions of QuickBooks. ProSystem fx Trial Balance also has strong file import and conversion support for legacy products such as ATB and many older DOS based accounting systems. Traditional file import and conversion support is available for Excel, basic text, delimited files and copy-and-paste functions as well.

ProSystem fx Trial Balance currently provides users access to over 70 reports. Most reports may be customized to fit the needs of each client. After reports have been customized, users may save the reports as favorites for recollection at a later time. These reports may also be shared with other client files to prevent constant customization of popular reports. All reports may easily be exported to Excel for further manipulation or editing as necessary. Ratio analysis reports are included and allow comparison of up to five years of data to help spot potential trends and/or problems.

Perhaps the strongest feature of ProSystem fx Trial Balance is the tight integration with the ProSystem fx Tax system. Full integration is achieved through the included Dynalink technology for business and nonprofit tax returns. Dynalink pushes all data directly to the ProSystem fx Tax software and does not require any prepopulating or data file imports. Further, any changes made to the trial balance are automatically captured within the tax software. This allows users to immediately see the effects of a journal entry inside the tax return. Support is also available for the Lacerte Tax and GoSystem Tax RS tax systems. The support for these systems is not automatic though and requires users to manually import data files to initially populate the return as well as to account for any additional adjustments made.

For accounting firms currently in the ProSystem fx product ecosystem, ProSystem fx Trial Balance provides a strong feature set to increase productivity. The Dynalink integration will certainly save tax practitioners time performing tax returns regardless of complexity. Firms not currently utilizing ProSystem fx products may still benefit due to the strong import and file conversion features. The ProSystem fx Trial Balance product is intended for smaller accounting firms primarily focused on tax compliance work.

Pricing for ProSystem fx Trial Balance starts at $1,750 for a single user license that includes all noted features above and can be networked or used as a stand-alone system. Additional users can be added for $285 each.