Features of Lacerte Software | TAX PREPARATION WITH INTUIT’S LACERTE SOFTWARE

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Intuit’s Lacerte tax software makes the task of tax preparation easier and accurate. We can professionally handle your tax preparation needs at low rates starting at just $8/hour

Tax preparation and processing can be tedious, exhausting, and a complicated affair for most companies as well as individuals who already juggle their core responsibilities. It also requires a certain level of expertise to go about the process of tax preparation without making mistakes. Outsourcing tax preparation services with Intuit’s Lacerte tax software becomes the ideal solution for such corporations, companies, and individuals.

Flatworld Solutions is the leading tax preparation service providing the company with years of experience working for hundreds of clients with big and small tax preparation service requirements. We work with seasoned experts who are proficient in using the most popular tax preparation software like Intuit’s Lacerte and ProSeries among other popular tax preparation software. We have a technological edge over other service providers, and this makes us the favorite tax preparation service provider with Intuit’s Lacerte tax software.

What is Intuit’s Lacerte Tax Software?

Intuit’s software for tax preparation- Lacerte tax software is the product of Intuit, a very popular US-based firm. Being one of the most popular tax preparation software, it is widely used by companies and individuals around the world and has been rated number #1 by AICPA. With its massive popularity and unique, useful features like e-filing, automated calculations, etc. it is validated by the IRS filing acknowledgment. Lacerte comes in three different packages with different kinds of features in each one, and several add on features. We use the package that suits the specific tax preparation needs of our clients. These are the three packages offered by Intuit –

  • Lacerte 200 Federal 1040
  • Lacerte Unlimited Modules
  • Lacerte REP

Tax preparation with Intuit’s Lacerte tax software is far more efficient and easier, and the whole process involves lesser paperwork which is one of the primary reasons why people prefer to outsource tax preparation with Intuit’s Lacerte tax software. Lacerte software gets integrated with Intuit’s QuickBooks which is accounting software. Integrating Lacerte and QuickBooks helps in the integration of the accounting taxing operations which saves a lot of time and effort for tax preparers.

Our Services – Benefits Of Tax Preparation Using Intuit’s Lacerte Tax Software

Intuit’s Lacerte has several features that make it quite popular among tax preparers. Following are the features and benefits that we leverage to provide you tax preparation services with Intuit’s Lacerte tax software –

  • Lacerte helps in saving much of the time involved in filing for taxes with its e-filing feature that allows efficient transmitting of returns. Lacerte is also continuously updated with the latest IRS e-file mandate.
  • Intuit’s Lacerte can be integrated with Intuit’s accounting software, that is, QuickBooks. This makes many operations involving accounting more convenient.
  • Lacerte has a collection of about 5700 forms which means we can provide tax preparation and processing services to different clients with varying requirements. The tax data can also be imported directly to the schedule D form from the CSV files or excel.
  • Lacerte tax software has one of the most useful features of identifying fields with incomplete or missing information and sending a request to the client to provide the missing information or a specific document. This saves a lot of time as it eliminates the need for tracking client data.
  • Another benefit of using Intuit’s Lacerte tax software is having access to features like automated calculations and error diagnostics. For clients whose tax preparation process requires complicated calculations, it becomes so much easy with the automate calculation feature. Lacerte runs about 2500 diagnoses to catch errors and inconsistencies, providing detailed error diagnostics.

Clients We Serve

Our tax services help our clients to focus on their core operations while we take care of the tax preparation needs. We offer tax preparation services, including tax processing and e-filing services to –

  • Corporates
  • Individuals
  • Small to medium-sized tax practices
  • Tax consultants

Other Services You Can Benefit From

Benefits Of Outsourcing Tax Preparation Using Intuit’s Lacerte To FWS

Flatworld Solutions is the best tax preparation service providing the company with Intuit’s Lacerte tax software for a host of reasons. When you opt for our services, you get more than quality tax preparation services. Here are the benefits of our tax preparation with Intuit’s Lacerte tax software –

  1. Affordable RatesFlatworld Solutions is a well-established tax preparation company providing a bouquet of financial services at the most affordable prices.
  2. Data SecurityWe take stringent data security measures and follow international standards of data security. We give you complete assurance that the data, documents, or information that you share with us is safe and confidential. We work on systems that restrict any third-party access.
  3. Single Point of ContactWe assign a project manager to all our projects so that our clients have a proper channel for communication. You can reach the dedicated project manager in case of any queries. Our project managers also provide clients with regular updates about their projects.
  4. Up-to-Date SystemsOur tax preparation with Intuit’s Lacerte tax software and other software like ProSeries is performed with the latest version systems to ensure that our services are accurate. We keep checking for updates and make it a point to upgrade our software as soon as the update rolls out.
  5. 24/7 AssistanceOur team of customer care executives is always available for assistance when you reach us via calls, emails, our website, or any of our social media pages. Our customer care executives work for different time zones. We get back to you in no time when you get in touch with us.
  6. ScalabilityIf your tax preparation and processing needs have to be upscaled at any point in time, we are equipped with a considerable number of expert tax preparers who can handle the upscaling requirements with utmost efficiency and without any difficulty.
  7. Quick Turnaround TimesOur team of experts who are proficient in tax preparation with Intuit’s Lacerte tax software complete and deliver projects within the stipulated time. Their profound experience and training coupled with the best of software that we have at Flatworld Solutions make it possible for us to have quick turnaround times irrespective of how big or small the project is.

Features of Lacerte Software

Lacerte Tax is a powerful tax preparing application by Intuit. It caters to the needs of individual taxpayers as well as the business clients for a seamless tax filing process. Lacerte offers customized packages as per the specific requirements of users which includes:

  • Lacerte 200 Federal 1040: For preparing up to 200 individual federal tax returns
  • Lacerte Unlimited Modules: For unlimited individual and business tax returns
  • Lacerte REP: Pay-as-you-go pricing plan for limited filing of tax returns
Top 10 Features of Lacerte Software

Intuit Lacerte is preferred by its users due to its wide range of features, which provide tax-related solutions to firms of all sizes. Let’s have a look at the top 10 features Lacerte software has in-store for a productive tax filing process.

1. User-friendly Interface

Lacerte offers a unique interface that helps to go through the filing process quickly and easily. It includes:

  • Customizable columns that list all of the clients and can be seen at once
  • Worksheet-based design for a better data input experience
  • Direct access to necessary tools and utilities like forms, diagnosis, print/view functions, and more
  • Tab for quick data input review

These features mentioned above make the tax filing process convenient and enable tax professionals to file more returns at a time.

2. Comprehensive Form Library

Lacerte tax software comprises over 5,700 forms, which further helps to serve a great variety of clients and businesses. It supports multi-state, K-1s, and more. The available tax form modules include- 1040, 1041, 1065, 1120, 1120S, 706, 709, 990, and 5500.

Lacerte also provides the capability to import tax data from Excel or CSV files directly into the Schedule D form, eliminating the manual data entry process. Moreover, 1099 and W-2 information can be downloaded directly from its financial institution into the tax return.

3. Hassle-free E-Organizer

E-organizer is a paperless option for organization and collection of information for the tax filing process. It helps in sending questionnaires, forms, and emails to clients in order to gather the required information quickly within the Lacerte tax software. Clients have access to a customized, password-protected executable file, which includes detailed information on how to use the organizer, FAQs, and more.

E-Organizer helps save the cost of managing and sending data through paper organizers. The errors due to data entry are also reduced due to the direct importing of data into the Lacerte software. Once the clients complete the given form, they can directly transfer it back to their tax preparer. It further saves a lot of time and improves efficiency.

4. Missing Client Data

Missing Client Data utility tool is a built-in tool in Lacerte software that identifies fields with missing information and send requests to the clients for the required information and documents.

Missing Client Data tool saves time and speeds up the tax filing process by reducing the hassle of tracking down client data. Tax preparers can simply flag the missing field for future reference or till the time data is received from the clients. Furthermore, the process of the collection of information is automated for a seamless workflow.

5. E-Signature

E-signature by DocuSign is a faster way of collecting approvals and agreements digitally. It allows professionals to obtain client signatures on engagement letters, tax forms, invoices, documents, and more in an IRS-approved way.

E-signature enables professionals and their clients to review, sign, and even make payments through the platform conveniently. It also covers eight statuses for the convenience of the clients, which includes:

  • Declined
  • Failed Authentication
  • Delivered
  • Multiple
  • Partially signed
  • Signed
  • Voided
  • Expired

E-Signature improves efficiency and uses 256-bit encryption for secure transfer of data.

6. Error Diagnostics And Automated Calculations

Lacerte catches errors and omissions by running over 25,000 extensive diagnoses. It covers areas including a specific e-file review and tax reform diagnostics. Tax preparers can easily jump from the error screen to the required input field for any correction in the form.

In order to provide accurate results, Lacerte provides automated calculations for depreciation, amortizations, Schedule J, multi-state processing, and more. It results in fewer IRS rejections and file returns seamlessly.

7. Integration Capabilities

Lacerte tax software can integrate with various third-party applications like document management, accounting software, client portals, practice management software, etc. These integrations add value to the accounting and tax process by increasing the functionality of the software.

Some of the most useful examples of Lacerte add-ons are:

  • QuickBooks- It automates most of the manual entry work by importing accounting data directly into the tax software.
  • SmartVault- It integrates with Intuit Lacerte to provide a secure client portal as well as a document management system for the seamless tax filing process.
  • Pay-by-refund- It is a convenient method for the collection of tax filing fees from clients through refunds.
  • OfficeTools- It is a practice management tool to centralize all of the accounting practices at a single platform for better accuracy and productivity.

8. Trial Balance Utility

Trial Balance Utility offers tools to aid accountants and tax preparers to serve their year-end clients. It improves productivity by providing time-saving features for the trial balance process.

Trial Balance utility helps in developing a chart for accountants, modifying journal entries, reviewing trial balance reports, and more. Furthermore, it can easily integrate and import data from QuickBooks and EasyACCT, which can be exported to Excel seamlessly. Trial Balance Utility saves every year’s trial balance sheet for better reference and tax filing experience.

9. Intuit Link

Intuit Link is an online client portal used to simplify most of the data collection work. It offers a personalized platform where tax professionals and clients can share confidential information securely. Professionals can send custom document requests to ask for the necessary information and documents required for the tax filing process.

Intuit Link provides the option to upload data directly from the client’s financial institutions. It secures data using 256-bit encryption for a protected tax filing process. From the tax year 15, Intuit Link is fully integrated with Lacerte software at no extra cost.

10. Tax Analysis and Planning Tools

Tax analysis and planning tools are a combination of two productivity tools- Tax Planner and Tax Analyzer. These tools help professionals in serving their clients better by increasing value to the tax services.

Tax Planner provides customized plans for each client’s future liability based on current and future state and federal tax rates. It generates four different types of programs- Case Analysis, Adjustment Analysis, Married Filing Jointly/Married Filing Separately Analysis, and Difference Analysis.

Tax Analyzer helps professionals in offering advice to their clients on managing their liabilities and their financial health. It red-flags amounts that are most likely to trigger the IRS audit.

To Wrap Up!

Lacerte tax software has a lot to offer for a smooth tax filing process. The features mentioned above make it one of the most proficient tax software in the market. Moreover, moving Lacerte software on the cloud can provide added benefits of multi-user collaboration, real-time data access, scalable storage, and more.

What’s new in Lacerte® Tax 2020

Thanks to your feedback, we’ve made Inuit® Lacerte® Tax better than ever. From smart authentication features to all new e-file capabilities, you can count on Lacerte to help make this tax year the best it can be.

Installation instructions

My Account Dashboard LC 2020

Existing customers: Once you start installation, select your firm on the pop-up screen. If you don’t see your firm information, download your prep file from My Account to complete the installation.

New customers: Log in to My Account and accept the End User License Agreement to get your prep file. You can use the default options, including the destination location, to complete the installation process.

Customers with Hosting for Lacerte:

Log in to My Account. Select Users under Account Name, then click on the user’s name to access applications. Select 2020 Lacerte Tax, then click Install App. See instructions

Important note: Please read the information below carefully. Your software will not install if these requirements are not met.

  • Microsoft .NET framework 4.8: If you have not updated your .NET to 4.8, the Lacerte installer will do it for you automatically. However, we encourage you to update .NET prior to installation, as it will require a restart before Lacerte can install. Download .NET 4.8 Web installer
  • Windows 10: Please ensure that you are running version 1607 or later of Windows 10.
  • Additional system requirements: View all Lacerte 2020 system requirements

Product enhancements: Helping save you time

Streamline document collection and collaboration: For tax years 2020 and 2021, we’re reviewing all of the existing collection and input tools, and making meaningful improvements to collection and collaboration to keep preparers moving quickly. For example, we will enhance the Intuit Link client login experience with options in addition to a password. These include one-time passwords (OTP) using authentication identifiers, such as their email address or phone number to seamlessly access their account. This reduces your need to provide IT support to clients.

Lacerte3

Automatically track time by return for all tax types: You can quickly assess how much time has been spent to make better decisions calculating billing, return on investment, and time allocation by staff. Learn more

Multiple performance upgrades: Platform enhancements and database upgrades help ensure higher quality, reliability, and alerts to help preparers stay on track.

New e-file capabilities boost your efficiency

New e-file is now available for the following:

Returns:

  • Indiana Corporate (1)
  • Kentucky Individual, Single Member LLC (1)
  • Rhode Island Fiduciary (1)

Extensions:

  • Virginia Individual (1)

Estimates (31):

  • Alaska Corporate and S-Corporation (2)
  • Arkansas Individual, Corporate, S-Corporation, and Fiduciary (4)
  • Colorado Individual (1)
  • District of Columbia Individual, Corporate, S-Corporation, Partnership, and Fiduciary (5)
  • Kansas Corporate (1)
  • Kentucky Individual (1)
  • Nebraska Individual, Corporate, S-Corporation, and Partnership (4)
  • North Carolina Individual & Corporate (2)
  • North Dakota Individual, Corporate, and Fiduciary (3)
  • Ohio Individual (1)
  • Oklahoma Individual, Corporate, S-Corporation, Partnership, and Fiduciary (5)
  • Oregon Individual (1)
  • Vermont Individual (1)

Amended returns:

  • Indiana Corporate, S-Corporation, and Partnership (3)
  • Maryland Individual (1)
  • Massachusetts Individual (1)
  • New Mexico Corporate (1)
  • Ohio Individual (1)
  • Pennsylvania Individual (1)

Customer support: Providing one-on-one and self-serve assistance

Intelligent voice assistant: When you call us for help, a new listening tool will be able to route your call to the right agent much more quickly. Learn more

Optional workflow tools: Helping you do even more

Intuit Practice Management*: Intuit Practice Management powered by Karbon gives you confidence that everyone in your firm is working on the right projects so nothing falls through the cracks. You get real-time visibility to progress across your practice, all from one place.

IPM 2020

eSignature*New 1-click functionality lets you quickly send 8878 and 8879 requests from inside Lacerte.

Hosting*: Get up and running with updated software as soon as it is released through Hosting for Lacerte. No need to download and install using traditional methods. In addition, the improved onboarding experience get your whole firm up in running in just days.

The available business application add-on (additional cost) allows you to house over 50 supported apps along with Lacerte, so you can move your entire office to the cloud, all in one convenient place. We recently added Citrix Sharefile and looking to continue to add more in the future. In addition, EasyACCT is now supported in the hosting environment.

Pay-by-Refund*To make it easier to get started, enrollment forms for new and returning customers are now pre-filled. For added convenience, you can enroll through My Account or within your Lacerte software. Enrollment for all products and banks is already open.

Firm-level Audit Assistance*. We are partnering with Tax Protection Plus to launch a firm-level option for Audit Assistance, giving you the option to add Audit Assistance and ID Theft Protection to every single 1040 client. Enrolled firms simply pay $10 for every filed 1040 return.

*Additional terms, conditions and fees apply with these optional add-on services.

Training: Keeping you up to date

Free, live and pre-recorded webinars: Attend live and pre-recorded webinars on topics that matter most to you, at times that work best with your schedule. More than 30,000 pros signed up for webinars last year. New sessions on tax law, ethics, product courses, and more are continually added.

Also Read :: How To Use Drake Tax Software Hosting

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