If you use ProFx and don't need financials, then the newest kid on the TB block, regrouptax.com is worth checking out. Seems to have the best handling of QB classes.
Pricing model not clear to me but I think it's per return.
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Hi Len,
Thanks for your interest in our software. I’ve answered your questions below.
1. What’s involved in importing from QBO? – You can import any format of a QBO report (i.e. year-to-year comparison reports, trend P&L, etc.). Simply export the report from QBO, save on your computer, and import into regroupTAX without any manipulation (i.e. keep all headers, columns, etc.)
2. From QB Desktop – same as above.
3. In the Trial Balance screen, can you turn off cents – There is not an option to turn off cents as of now, but it is a feature we could easily add in the future.
4. Is there a column for tax adjustments? – Yes, if you view the “Unadjusted Book to Sch. L Comparison” report and the “Book to Tax Comparison” report, you’ll see a column for book adjustments and a column for tax adjustments.
5. Can I save the csv formats of exported TB’s. eg. Go System has it’s required columns – Yes, click Export Accounts (blue button above the reports) and you can save the tax TB as a csv.
Let me know if you have any other questions.
Emily
Emily Dear Harper, CPA
CO-FOUNDER, regroupTAX
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Hi Len,
I’ve answered your questions below.
1. How do you handle QBO and QBD “classes”? – In the case of classes, you’ll create a unique excel trial balance (.csv format) in year 1 and use that same TB moving forward. Each year, you’ll simply update the book values and add any new book accounts to the TB. To indicate the class, you would include it in the book name; i.e. “Class 1: Office Expense…Class 2: Office Expense.” Once they are mapped in year 1, the mappings will automatically carry forward in future years.
2. Do you include tax codes and subcodes for any of the major tax software? M-3 codes? – The Tax Trial Balance that is exported from our software has tax codes for CCH Axcess and CCH ProSystems. We do not include any other codes or support M-3 as of now. We are working on UltraTax and Drake currently, but haven’t rolled that out.
3. Is there a live demo or a Youtube? The case study was just two screens? – Here is our YouTube channel, where you can find several videos, including a demo.
4. Are there user defined fields for codes such as “activity” which Go System and maybe UltraTax use to denote separate rental properties or Schedule C’s. – We have tax mappings for 8825 Rental Activity and Sch. F Farming Activity. Once a book account is mapped with a specific activity, you’re prompted to name the activity (i.e. name of the rental property), at which point an 8825 report will automatically be generated. We do not support Sch. C as of now, but several of our users use the Partnership Income Statement to mimic their Schedule C’s.
Hope that helps! Feel free to sign up for a free 30-day trial if you’d like to test out a few clients.
Emily