Faster Tax Preparation With Drake Tax Software Hosting
While Drake Tax software is one of the most popular affordable Tax preparation application
available today and the most flexible in terms of tools and add-ons its efficiency can be further improved through the third party hosting or cloud hosting.
Having the Drake Tax in the cloud hosting means that instead of accessing the software on the local desktop, it is being hosted on third party cloud servers centrally.
Why to go for Drake Tax software Hosting?
The basic advantage of Drake Tax Cloud environment flows from the always on accessibility of the tax data from any place anytime and multi-user accessibility of the application. Some of the advantages of having Drake software hosted in the Cloud are:
Real time Simultaneous user access and collaboration: Drake Tax software hosting ensures that the tax application is accessible by many users simultaneously, which in turn transform it into a powerful collaboration tool. So whether the tax preparer wants to work on the tax files with the clients or other bookkeepers they can collaborate remotely without being physically present to exchange or share files.
Centralized database: Managing multiple clients is an uphill task for the finance professionals more so when they are located in multiple locations. Having the data of all clients at centralized server, accessible form any online connection really adds on to the productivity quotient for the tax planner.
Your office is where you are: Besides anytime anywhere access and collaboration an important functionality offered by Drake tax software hosting is the ability to have your office operate just from any location. During tax heavy season this corollary would translate into using outsourced manpower at cost effective rates or using part time work. With real time access to data, you know exactly what work is being done or evaluate quality of the work in real time for error free tax preparation.
No data security worry: Clients data is not only most confidential but also need to be secured against accidental loss. With Drake Tax application hosting the tax preparers can rest assured of their data security. Daily automatic backup in multiple locations, online security tools for monitoring threats to the data and password protected access make the cloud best place to have your application and data reside.
The cost Factor: Cost of tax preparation impinge heavily on the profitability of the tax firm. Sine most of the tax planners work in multiuser environment, to run the application they have to install enterprise network or LAN to access the application.
Besides server and network, application lifetime costs also include installation and occasional troubleshooting costs. Tax software hosting not only save the Drake tax preparer these costs but also obviate the need for onetime upfront cost as the services are available on a monthly subscription basis.
Using the Drake Tax application features more productively
Besides offering the usual benefits that cloud environment offers in general, many benefits particular to the Drake software are also realizing by hosting the application in a cloud environment.
Associated practice management: Drake offers many tools for the tax planners associated tax practice to prosper such as payroll, document management, billing and client communication as well as tax planning for the client. Most of these tasks are performed through Add-ons and rests on comprehensive client interaction. Since these add-ons themselves can also be put on the clients environment and centralized database on cloud servers the associated practice management is quite effective and time saving.
Import and export of Data: Having Drake Tax software hosted also enhances the strong export/import features of the program. Not only the data can be imported form accounting applications such as QuickBooks but also complete integration assured in a hosted environment.
Electronic filing of data: Electronic filing of data is an important feature of the Drake Tax software. With Hosted Drake Tax program, electronic filing can also be done from anyplace anytime whether you are sitting with your client in their office or elsewhere.
Hosting other application together with Drake Tax software: Complete financial management call for integration between many end to end financial application such as tax applications, accounting applications and CRM applications. All of these software can be hosted in the cloud environment and complete integration among them made effective for import and export of data for time and costs efficiency.
Working with tax forms: Tax preparation process has to grapple with working with a large number of tax forms such as form1040, 1040NR, 1041, 1065, 1120, 1120S, 706, 709, 990, and 990PF as they have to work on different federal tax packages. Handling those tax processes separately offered is more easily done when the Drake Tax software is hosted in the cloud environment as all of them are easily accessible on a centralized database.
by: William Smith
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