2012 Innovation Awards Nomination:
Lacerte Tax Import & ProSeries Tax Importhttp://lacerte.intuit.com/products/tax-import
Tax preparers often voice frustrations about manual data entry – they see it as a waste of time when they should focus on more value-added activities. Intuit now allows accountants to import more and input less data with Lacerte and ProSeries Tax Import, an innovative SaaS-based solution that enables practitioners to import tax data from scanned source documents and digitally download data from financial institutions directly into Lacerte and ProSeries. As a result, Tax Import helps reduce the tedious task of manual data entry by securely and reliably automating the process of populating tax returns.
This year, they’ve also added an entirely new “Form Reviewer” tool, which allows for checking and editing data before importing, leading to increasingly accurate results.
Working With Direct Digital Downloads From Financial Institutions
Lacerte Tax Import and ProSeries Tax Import use two different technologies to easily populate a return. Intuit’s innovative digital data feed technology downloads tax information directly from financial institutions into Lacerte and ProSeries – with extremely high reliability of results and no human intervention. The financial institutions currently supported include: Bank of America Investments, Charles Schwab, E*Trade, Edward Jones, Fidelity, Morgan Stanley, Morgan Stanley Smith Barney, Scottrade, TD Ameritrade, UBS, and Wells Fargo Advisors. Once the client approves the transfer of data to the tax preparer through Intuit’s 1099 Dropoff website by logging onto their accounts without sharing password information with their tax professionals, this unique technology downloads data directly from financial institutions securely to Intuit’s professional tax applications.
Working With Scanned Documents
The second technology within Lacerte Tax Import and ProSeries Tax Import reads clients’ data from scanned source documents, including data from consolidated brokerage statements, W-2s, 1099s, and Schedule K-1s, and imports it into Lacerte and ProSeries with high reliability – without human intervention. Tax professionals first scan the documents, send the file to Intuit for processing and then import the data into the tax return. With its simple, visual three-step process – input, review and file – its review tools (highlighted, bookmarked PDF and Excel file with stock transactions when available) help uncover mistakes or omissions. With the new “Form Reviewer” tool, tax professionals can now edit and check data before importing.
Lacerte Tax Import’s and ProSeries Tax Import’s data security is reinforced with the highest industry standards and all data is sent directly to Intuit. Intuit also uses 128-bit data encryption, the data sent to Intuit is never handled by humans during normal processing, and it never leaves the United States.
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