Drake Software offers an extensive toolkit that facilitates the efficient operation of your process. An award-winning support staff that can swiftly handle any tax, data, or technological issue is available to assist with the accounting software. The experts at Titan Tech and Drake Software collaborate to offer you the assistance and guidance you require.
Together, Right Networks and Drake Software can provide tax and accounting professionals with top-notch hosting services. Find out the advantages for your company of using Drake Tax as your hosted tax preparation software.
Recently, Right Networks and Drake Software worked together to create a three-part series that showcased the various software options accessible to tax professionals. It went over how to use tax software in various ways, how cloud hosting protects your data, and how it makes remote work easier.
What does Drake Software do?
Regarding Drake Software. One of the best companies offering software for professional tax preparation is Drake Software. Drake gives tax professionals the resources and assistance they need to expand their clientele and grow their businesses. Our clients are aware that they can count on Drake to deliver complete product excellence and value.
Regarding Drake, What Are Your Peers Saying?
Prominent tax journals poll their readers every year to find out how well each professional tax software program fared throughout the filing season. When it comes to important categories, tax and accounting experts that frequently select Drake Tax consistently give it the top rating, whether in the CPA Journal, CPA Practice Advisor, Journal of Accountancy, or NATP:
- Accuracy “CPA Journal”
- Reliability “NAT”
- Easy to Use “CPA Journal, JofA”
- Easy to Install “JofA”
- Software Updates “JofA, NATP”
- Software Conversion Package “NATP”
- Support “CPA Journal, JofA, NATP”
- Most Recommended to New Practices “JofA”
- Value for Cost “CPA Journal”
The pattern is evident: Drake users adore their program due to its user-friendliness, dependability, and access to the best customer care in the business. Maybe that’s why Drake stood out in NATP’s tax software survey with a 96 percent client retention rate.
Top Best 10 Useful Features of Drake Software
1. Drake Tax Planner
Drake’s program includes a function called Tax Planner that lets tax preparers plan their clients’ taxes for the current year or the next. Using Tax Planner, one can compare one’s existing tax situation to various scenarios, such as getting married, having a change in income, or purchasing an item.
You can do away with the requirement for handwritten signatures and stamps on tax papers by using Drake software. The ability to sign tax paperwork, such as 8879 permission forms and bank applications, using a digital signature pad is a helpful feature for preparers and taxpayers completing tax returns electronically.
3. Data Backup and Restore
The most crucial component of every tax procedure is the clients’ tax information. Therefore, it makes sense to create a data backup to guard against data loss from unanticipated events. Tax preparers can maintain the security of their tax data by using Drake’s Backup and Restore tool, which provides a variety of data backup choices.
Drake Software, for example, provides the ability to enable “Automatic Backup” for the data. The location of the backup can be specified using the Manual Backup option, which is also available. The backup location can be either the Secure File PRO account or a network site. Additionally, tax preparers have the choice to backup all or just a subset of their important files.
4. Drake Scheduler
You may create schedules and set up appointments for other tax preparers and yourself with the Drake Software Scheduler tool. With the ability to import and export appointments from Microsoft Outlook, it may also be used to send email appointments to clients for the necessary date. Tax preparers can construct organizers and pro-forms, as well as batch schedule appointments for several clients, using the Drake Scheduler tool.
Clicking the Scheduler button on the toolbar will bring up the Scheduler.
5. Drake Documents
As a tax preparer, does all the paper paperwork you have to deal with every day cause you stress? Do you wish to run your office entirely paperless? In this case, Drake Documents can be of use to you.
Drake Software Documents provides safe electronic storage for all of your tax-related information, including returns and client documents. You can reduce the cost of actual cabinet storage by using this option.
You may easily calculate a loan amount by creating amortization plans with Drake software.
By completing the necessary fields—Loan Amount, Amortization Periods, Payments Per Year, and Annual Interest—you may determine the loan amount. Upon selecting the Calculate option, the amount of the payment will be displayed.
You can also specify the periods and print the reports under them with Drake.
7. Printing Labels
Drake Software gives you the option to print client labels from the clients’ return window using an external label printer. Label types that you can select from include Name, Name/ID, Name/Tax Year, and Client Address Label. It is also possible to choose more than one label at once.
8. Drake Dashboard
With Drake’s new web-based Dashboard tool, tax preparers may assess a company’s success by transforming data into interactive, pre-made displays. Drake additionally uses a company’s KPIs (Key Performance Indicators) snapshot to provide an overview of the health of the company.
All you have to do is log in to the Drake website as Admin to grant users access to the Dashboard.
Select User Mgmt > Manage Users after that. Users can gain access by ticking the “Dashboard-Beta” box. An email regarding the same will be sent to the user.
As an administrator, you can establish objectives for average revenue per client, target new customers, and annual revenue, among other things.
9. Research Tool
Users can easily obtain information on the most recent tax changes with Drake’s research tool. Clicking the Research button on the toolbar will open the tool.
You have the option to refine your search in the Research tool by including only pertinent tax-related websites, such as the IRS. You can refine your search by adding keywords as well.
10. Schedule D Import
Drake Software provides the 8949 Import tool, which makes it possible to import client broker statements straight into the 8949 import template in an Excel format. You can use it to make a customized template or download one from the knowledge base.
Optimize the Performance of Drake Software with Cloud Hosting
These were but a handful of the many functions that the Drake tax software offers. On the other hand, the platform that the program is hosted on also has an impact on its performance.
The tax preparers benefit from remote access when Drake is hosted on the cloud, in contrast to local systems. As a result, they have constant access to the tax data from any location. Furthermore, tax preparers are spared the headache of having to buy and maintain gear for their tax preparation businesses.
Other benefits of cloud computing include:
enhanced data protection
Improved user cooperation
In conclusion, Drake Software distinguishes itself as a dependable and feature-rich option for experts in tax preparation. Drake Software is still the go-to option for tax preparers trying to improve accuracy, expedite productivity, and provide outstanding client service because of its user-friendly design, extensive feature set, and dedication to customer support. Drake Software provides the resources and assistance you require to thrive in the complicated tax climate of today, regardless of your level of experience in the industry.