BONUS SOFTWARE

Drake also provides tools that simplify office workflow and provide additional client services.

Drake Document Manager and Tax Planner are included free with all versions of Drake Software. Client Write-Up is included free with the Unlimited version of Drake Software, and is available for $295 if you purchase the Pay Per Return version.

Drake Document Manager

Free with Drake Software, Document Manager is an electronic storage solution for client source documents and returns. It can greatly ease your paper handling tasks and help you reduce the amount of paper documents that you have to store in your office. You can easily create, organize, and find documents, without ever needing a paper copy. You’ll save money by saving paper and toner, and by cutting the staff time needed to search, sort and shuffle paper files. And, if space is a concern, Document Manager frees up floor space normally devoted to cabinets full of customer files.

Features of the Drake Document Manager:

Modeled after a physical filing system using filing cabinets, drawers and folders to organize your documents
Customizable document organization
Integration with Drake Software – easily create and electronically store PDF versions of tax returns
Import and export features let you move or copy documents from one location to another
Integrated e-mail – send copies of documents to anyone
Multi-year storage capabilities – grows with your business

Client Write-Up

Drake Client Write-Up is an extensive accounting package with modules for payroll, bookkeeping, contractor payments, accounts payable, accounts receivable, and "on-the-fly" forms. It’s free with the Unlimited version of Drake Software, or is available for $295 if you purchase the Pay Per Return version.

The Payroll module provides live and after-the-fact employee payroll with additional portal access available on the Internet. Also included are MICR check printing, direct deposit, e-filing quarterly and yearly employment tax forms, and e-filing Forms W-2 and 1099-MISC.

Employee payroll supports direct and indirect tips, Advance Earned Income Credit, and up to 20 additional payroll benefits and deductions per check.

Forms 940, 941, 941SS, 941X, 943, 943X, 944, 944X, 944SS and W-2 are supported, as well as all state quarterly unemployment forms. Payroll journal entries can be created from payroll checks entered to save keystrokes.

With the Bookkeeping module, set up a custom chart of accounts, import from an existing client or use a template. During setup, change account information as needed, add account levels, enter current, budget, and starting balances, and export to Drake Tax Software. Make journal entries to one of the five separate journals – general, cash receipts, cash deposits, payroll, or budget – or save time and have Client Write-Up do it automatically. Reconcile cash accounts, post monthly transactions and close at year-end, and format financial reports using custom headers, footnotes, and a logo. View or further customize any of the financial reports, using most word processors.

The Contractor payment and Accounts Payable modules combine to print and track payments (live or after-the-fact) to contractors (1099-MISC) and other payees. Pay contractors via direct deposit, and, for payees, pay by invoice or simply use the check writer with minimal to no setup involved. At year end, create Forms 1099-MISC and print or e-file when needed.

Use the Accounts Receivable module to send invoices and customer statements and to post customer payments, penalties, and service charges. Track past-due monies and monitor sales tax liabilities (state, county, and local).

With the On-the-fly Forms module, easily create for printing or e-filing federal Forms 940, 941, 941SS, 941X, 943, 943X, 944, 944SS, 944X, W-2, W-2G, 1098-Mort, and the following 1099 forms: A, B, C, DIV, INT, MISC, PATR, R, and S.

Recent enhancements:

Secure client information by job function: admin, office manager, or data-entry
Use spreadsheets to import initial client data: employees, contractors, vendors, customers, chart of accounts, and journal entries
Print all forms and documents in PDF format
Print mailing labels for employees, contractors, vendors (A/P), and customers (A/R), using 3 1/2” x
1 1/8” roll labels
Override the default Payroll General Ledger accounts for an employee or contractor
Optionally post payroll journal transactions automatically
Optionally print other information on paystubs
Enter up to 20 payroll deductions and benefits
Maintain options and General Ledger Contractor information independently
Indicate contractor default accounts for cumulative entries to the journal and by 1099-MISC box categories
Allow clients to initiate and track payment of contractors via the web portal
Provide PDF reports to and from clients via the web portal

Client Write-Up tutorials are available in English and Spanish.

Drake Tax Planner

Free with Drake Software, the Tax Planner allows you to add revenue by providing another service to clients, and helps them make the right decisions in an increasingly complex tax environment. Most financial decisions today directly affect a client’s tax situation. The tax planner allows up to seven years or seven scenarios of tax planning per client.

Help your clients plan for changes such as:

Change in marital status
Change in dependents
Change in income

Help your clients determine what financial decision would have the best tax implications for:

Taxable Social Security benefits
Disposition of capital assets
Limitation phase-outs
Self-employment tax
Alternative minimum tax
Retirement savings

Various reporting options allow you to provide your clients the level of detail they need. Drake Tax Planner can help take your business to the next level of providing year-round financial services.