Tax Return Review Process

I'm curious what tools everyone is using for reviewing returns. I just started at a new firm and I'm trying to improve some processes. We use UltraTax. Currently we are utilizing the "review notes" feature within UltraTax. At my last firm, we would print a copy of the tax return to PDF and make our review notes using the sticky note feature within Adobe. I preferred that method over reviewing on-screen in Ultratax. In UT, It always feels like I'm potentially missing a form and makes it difficult to keep track of what forms I've reviewed. I also don't like that I have to link the review note directly to a line item on the return since sometimes I like to leave general "notes for the file" type review notes.

I do like that both methods allow me to leave review notes directly on the form which makes it easier for the preparer to address the notes since it leads them directly to the spot on the form that the note relates to (as opposed to keeping notes on a word document or something similar). I want to be able to save the review notes to the file each year as well.

Any other tools you all are using for this? Any UT users have any tips for utilizing the review notes feature within the software?

Thanks!

We print the return to pdf and I make notes in an Excel document. I mark up the PDF and it remains in the file until I review it again and compare it to the revised copy.

I like establishing the expectation that when returns go to review, they are complete. Reviewing in the software, in my experience, makes it too easy for staff to send things to review when they aren't actually complete.
I'd be interested in others experience with this approach though.

I use UT also. For 1040s I (as the reviewer) use the checkmark function where I double-click a field on the 1040 to know it is a good number. I also do that on underlying sub-schedules if necessary. I used to use the review notes function but I hated how they would pro-forma every year which made it confusing to know if those were notes from last year we forgot to delete or what. We now use a Word document for review notes and preparer notes.

We also use UT. Everyone prepping returns fills out a digital recap sheet that's laid out in the format of the return (1040, 1120, ect) so essentially you're doing double data entry, once into UT and once onto your recap sheet. We also have a digital checklist that gets completed at the end. We use the print preview to review in UT and compare it against the recap, since the recap shows what went into each number it's helpful to spot issues or question the treatment of something.

I used to use UT but cannot recall, do they have a function to mark a field or form as incomplete? Lacerte does and that is one way I flag things for further review or correction because it appears in diagnostics as an item to complete.

I used to use UT but cannot recall, do they have a function to mark a field or form as incomplete? Lacerte does and that is one way I flag things for further review or correction because it appears in diagnostics as an item to complete.

Yes, there's a "push pin" thing that works as a to-do and adds to the diagnostics.

I used to use UT but cannot recall, do they have a function to mark a field or form as incomplete? Lacerte does and that is one way I flag things for further review or correction because it appears in diagnostics as an item to complete.

Thanks for sharing...I'm still learning what Lacerte has to offer. This will be useful!

We also use UT. Everyone prepping returns fills out a digital recap sheet that's laid out in the format of the return (1040, 1120, ect) so essentially you're doing double data entry, once into UT and once onto your recap sheet. We also have a digital checklist that gets completed at the end. We use the print preview to review in UT and compare it against the recap, since the recap shows what went into each number it's helpful to spot issues or question the treatment of something.

Similar to this - we use an excel template that's quick and dirty for number-only entry. This is prepared before anything is scanned. The client is contacted for any obviously missing items. Then the file is sent to scan (and Autoflow if ideal) and returned to the preparer. The return is prepared (or checked if Autoflowed) and then reconciled back to the excel file.

Any notes are made in the note section and then on to the reviewer.

We've had success with this under both UT and now Axcess (except we didn't use AutoFlow under UT). UT calls it "OCR scan" or something similar. We weren't successful at getting info scanned accurately or returned to us timely and abandoned it.