Paperless Tax Workpapers
Today I attended a webinar hosted by Sureprep – the developer of a fantastic paperless tax workpaper software. The software is available in various versions, including 1040SCAN PRO, 1040SCAN ORGANIZE, 1040SCAN TRADES & SPBINDER (with 1040SCAN PRO being the most featured packed).
From their website (www.sureprep.com):
1040SCAN PRO is the most advanced OCR solution in the tax and accounting industry. 1040SCAN PRO automatically recognizes and transfers data from W-2s, 1099s, 1098s, K-1s, Organizer Pages, hundreds of Brokerage Statements and thousands of other document types into your tax software, significantly reducing the time spent preparing and reviewing 1040 and 1041 tax returns.
The version that I found to be the most applicable and have decided to be the focus of this post is SPbinder.
SPbinder is an electronic binder and workflow system that will drastically reduce the time you spend organizing your workpapers and the reduce the time you spend reviewing tax returns; making your tax season more profitable and less hectic than ever before.
SPbinder is a web based system that allows you to add your scanned tax workpapers (W2s, 1099s, organizer pages, etc.) to a client specific electronic binder then simply drag and drop them into an appropriate bookmarked section, making navigation and standardization a breeze. While working on your clients tax return you can utilize a comprehensive list of stamps, tick marks, sticky notes, communication notes, preparer and reviewer sign-offs and many other annotation tools. Once the tax return is finalized, the completely bookmarked and annotated electronic tax binder can be printed to PDF for document storage purposes.
SPbinder, as well as the 1040SCAN products are compatible with the following tax programs: GoSystem RS, ProSystem fx, Global fx, Lacerte and UltraTax.
Seeing this product in action (via the webinar) was very impressive. One of the features that I was most impressed by was the integration of MS Excel. The program allows you to add an excel worksheet (yes, the actual individual sheet and not an entire Excel workbook) to a clients electronic folder. Not only that but Sureprep adds full markup and cross-reference functionality to the documents in the electronic binder.
The focus of the webinar was the ease of use and time saving benefit of using the Sureprep software when compared to Adobe Acrobat. Sureprep makes the addition and organization of documents to your electronic file seamless and easy via familiar functionality like drag n drop. The user interface appears intuitive, making the learning curve minimal.
Currently, I am awaiting a call back from Sureprep to discuss their pricing structure.
For more information go to http://sureprep.com
By Leon Clinton