2015 Review of GruntWorx Organize, Populate and Trades

• Secure web-based system (SSAE-16 Type II) means firms can instantly ramp up during tax season, taking on more client returns than ever, with the ability to access the system from anywhere
• Strong security options
• Combines all client tax documents into a single, bookmarked and linked PDF organized in tax folder format.
• Optional module can transfer client tax data directly into the tax software, saving data entry time (for select major tax systems: Drake, GoSystem Tax RS, ProSystem fx Tax and UltraTax CS)
• System recognizes and pulls data from W-2s, 1099s, 1098s, K-1s, and many brokerage statements

Potential Limitations

• System is optimal for more complex returns, since it can take two to four hours for the system to create a digital PDF tax binder.

GruntWorx offers a completely web-based tax automation solution that helps firms create an editable and annotatable PDF tax binder out of their client’s scanned-in paper source documents.

Core Product Functions/Features: 5 Stars

GruntWorx is actually a suite of three products: GruntWorx Organize, GruntWorx Populate and GruntWorx Trades. The primary module, Organize, offers an intuitive dashboard that helps guide firm staff through the process of scanning and uploading client tax documents to the secure servers, where the system uses OCR technology to arrange the documents into a properly organized digital tax binder, with sections for wages, interest and investment income, deductions, mortgage interest, education, etc). The finished PDF workpapers are bookmarked and labeled, and can be annotated.

When the PDF tax binder is completed, the firm can download them and, if using the GruntWorx Populate system, the system will automatically extract data from each line of each form and import it into their tax preparation system, creating a tax return for the client and eliminating this data entry, which can also improve accuracy compared to manual data entry. (The auto-populate feature works with the tax systems from Drake Software, GoSystem Tax RS, ProSystem fx Tax and UltraTax CS.)

The GruntWorx Trades module offers additional functionality, converting consolidated brokerage statements into a single Excel spreadsheet which, for more complex clients, can eliminate the need to manually input hundreds or thousands of transaction details. Most professional tax systems can then import this data into a client’s Schedule D.

GruntWorx includes several security features, from user access rights that limit access to certain features and clients, to bank-level cloud security features that undergo SSAE-16 Type II audit.

Paperless Workflow: 4.5 Stars

The core function of GruntWorx Organize is to provide the firm with a digitized version of their client’s tax documents. Firm staff scans in the documents, which are then uploaded to a secure computer program hosted at GruntWorx, LLC, where the system users optical character recognition (OCR) to determine what each form is. The result is a PDF binder with all of the tax documents organized by type and in traditional tax workflow order (earned income, interest income, credits, deductions, etc.) The binder is bookmarked and links allow fast movement between source documents. GruntWorx Populate also has diagnostics tools that can help identify missing data or errors. The system can recognize virtually all versions of forms W-2 and 1099, as well as K-1s,5498, 1042, 1095, 2439, 5498, and consolidated brokerage statements.

GruntWorx Populate goes another step, with the advanced OCR technology searching each of the electronic forms for the data on each line, pulling this data and producing a review sheet. After verification of accuracy, data can then be automatically imported into a client’s tax return in several tax preparation systems. GruntWorx Trades is available for helping streamline tax workflow for clients with large numbers of stock transactions. Users scan in a consolidated brokerage statement, and the system transforms the details into an Excel file, extracting information on the trades, including quantity, description, purchase and sales dates, purchase and sale amounts, gain loss, and cost basis data in Box 6.

Integration: 4.5 Stars

GruntWorx integrates with Microsoft Excel to produce worksheets and for brokerage statements, and can export data from client tax forms into tax returns in the following professional tax preparation systems Drake Tax, CCH ProSystem fx Tax, GoSystem Tax RS, and UltraTax CS Additional integration with GoSystem Tax RS for PDF naming systems for document management. GruntWorx partners with Tic, Tie & Calculate, which gives the firm more advanced features for working with PDF files, including integrated bookmark templates, repagination, tickmarks, hyperlinks, digital calculators, and reviewer sign-offs.

Help/Support/Training: 4.75 Stars

Web-based help features for the GruntWorx modules include FAQs, tutorials, a user manual, troubleshooting guide and whitepapers. Live, phone-based support is available at no extra cost and the company has extended hours during tax season. A full list of forms that GruntWorx can scan and recognize is at http://kb.drakesoftware.com/Site/Browse/GruntWorx-Supported-Tax-Forms.

Summary & Pricing

GruntWorx Organize, Populate, and Trades each help streamline different parts of the tax workflow process, helping to reduce or eliminate manual data entry and collection. The digital tax workpapers produced by the web-based system can be edited and annotated. The GruntWorx Populate system can automatically extract data from source documents and enter it into client returns for firms using Drake Tax, GoSystem Tax RS, ProSystem fx Tax or UltraTax CS.

GruntWorx is priced on a per-return basis, which lets firms use it for just a few client returns or across a larger number. The Organize system costs $5 per use (regardless of the number of source documents in a client return). The Populate system costs $30 per income tax return. Discounts are available for high volume firms who plan to use it on more than 100 returns.

2015 Overall Rating: 5 Stars