- 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, 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.
- 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.
- Make journal entries to one of the five separate journals – general, cash receipts, cash deposits, payroll, or budget – or save time and have DrakeCWU do it automatically.
- Reconcile cash accounts, post monthly transactions and close at year-end, and format financial reports using custom headers, footnotes, and logo.
- View or further customize any of the financial reports, using most word processors.
Contractor Payments and Accounts Payable
- Print and track payments (live or after-the-fact) to contractors (1099-MISC) and other payees.
- Pay contractors by direct deposit, and, for payees, pay by invoice or simply use the check writer with little or no setup involved. At year end, create Forms 1099-MISC and print or e-file when needed.
- Send invoices and customer statements and post customer payments, penalties, and service charges.
- Track past-due monies and monitor sales tax liabilities (state, county, and local).
Create these federal forms for printing or e-filing:
- Forms 940, 941, 941SS, 941X, 943, 943X, 944, 944SS, 944X
- Forms W-2, W-2G
- Form 1098 Mortgage Statements
- Forms 1099A, A, B, C, DIV, INT, MISC, PATR, R, and S