50+ countries
across the world

Outsourcing leader
since 2008


quality processes

Lacerte Tax Software Simplifies Complex Tax Preparation

Last updated: 17 Jan, 2022 By | 6 Minutes Read

Why do tax accounting professionals the world over choose to put their faith on Lacerte tax preparation software? An analysis of the inherent properties of the software will bear this out. Lacerte Tax had been developed by Intuit about 30 years ago and since then constant periodical updates has ensured that the software is as relevant and an integral part of tax accounting today as it was then.

It is user-friendly, fast, and can simplify even the most complex of tax preparation tasks. To give it a cutting edge and highlight its benefits, Intuit has been able to quantify in tangible minutes, the time saved in tax preparation if one opts for Lacerte.

Lacerte, because of its speed of operations helps tax professionals complete more work in lesser time than before. Tax outsourcing agencies also prefer Lacerte as it helps to move large volumes of data seamlessly between client servers and tax preparation systems in their network.

Similarly, after the returns are completed they are transferred back to the clients quickly and efficiently. The add-ons that have been incorporated recently ensure the accuracy of the electronic filing process through advanced error diagnostic functions.

The features of Lacerte tax preparation software can now be evaluated in some detail.

Speed of returns processing

As given above, Intuit has quantified the time saved in preparation of complex returns with Lacerte which by conservative estimates works out to 52 minutes per return. This is mainly because of its design that facilitates automated calculations and an interface that is directly linked to various states, federal and other returns numbering more than 5,700.

Quicker data entry is made possible by the flat work-sheet format. All the time-saving features are categorized minute wise into 27 sections for the benefit of Lacerte users.

E-filing features

June 2014 saw IRS issuing guidelines for the signature of Form 8879. Intuit partnered with DocuSign to structure IRS approved e-signature solution that was integrated into Lacerte tax preparation.  Hence tax professionals are able to receive Form 8879 client signatures much faster at a nominal $5 per return.

Other e-filing features include support for both individual and business form sets, receiving comprehensive real-time information on Federal and State laws through Lacerte e-file Atlas and the facility to go to Lacerate online account and verify transmission details.

Seamless fusion with dependable multi-user network

The networking capabilities of Lacerte makes it ideal to be run on a multi-user network or on an individual PC. This makes for faster inputs, processing and real-time supervision of tax preparation tasks. Even preferences such as invoice scheduling can be standardized and set across all departments of a company.

Firms that have multiple license files do not face billing errors as Lacerte can recognizing a firm’s unique ID and downloads and works automatically on the relevant prep files.

Also Read: Why Choose Lacerte Tax Preparation Software?

These exclusive features are some of the in-built functions of the Lacerte Tax Preparation software that helps save time and simplifies complex tax preparation across the entire workflow.

With an efficient tax preparation software, it is also important to have a human resource that can utilize the software to the most. Hiring an onboard team can be expensive. Hence, outsource the tax preparation process to Cogneesol. Contact now, at +1 646-688-2821 or email us at info@cogneesol.com.

Latest Blogs

Accounting Services for Law Firms – A Basic Necessity
Read More

When Should CPAs Consider Outsourced Accounting Services?

Read More

Avoid Bookkeeping Backlogs – Best Practices for Up-to-date Accounting

Read More

Contract Management in the New Era – Challenges and Opportunities

Read More

Real Estate Accounting Hurdles: Top Challenges and Solutions [Infographic]

Read More

Common Mistakes to Avoid While Working With Virtual Accounting Assistants

Read More