Lacerte Essentials, Plus, and Advanced — Which One is Right for Your Business

Professionals frequently rely on Lacerte for its thorough tax software solutions. Nevertheless, choosing the right Lacerte option — Essentials, Plus, or Advanced — may be overwhelming.

Each tier offers distinct features tailored to meet varying needs. In this blog, we will delve into all three packages and learn how they can be helpful in terms of their key benefits, make a brief comparison, and much more to help tax professionals make an informed decision among them all.

Let us start with understanding Lacerte Essentials first -

Lacerte Essentials: The Foundation of Efficiency

Lacerte Essentials is the entry-level package designed for smaller practices or those new to Lacerte. It provides the essential tools for basic tax preparation, ensuring accuracy and efficiency.

Key Features

Essentials Core Tax Forms cover a variety of federal tax returns, including individual, partnership, corporate, S-corporation, and fiduciary, making them a reliable option for handling typical tax situations.

E-File Capabilities: This bundle offers e-filing for federal and state returns, making the submission process more efficient.

Data Import: Import data from financial institutions and previous tax returns, reducing manual entry and minimizing errors.

Client Management: Basic client management features help keep track of essential client information and documents.

Diagnostic Tools: Built-in diagnostics identify potential errors and omissions, ensuring accurate returns before submission.

Ideal For:

• Small tax practices
• New users seeking an introduction to Lacerte
• Practices with straightforward tax needs

Now, let’s know what Lacerte Plus is.

Lacerte Plus: Enhanced Functionality for Growing Practices

Lacerte Plus builds on the Essentials package, offering additional features that cater to growing practices with more complex requirements. This middle-tier package provides enhanced functionality, enabling tax professionals to handle various scenarios.

Key Features

Expanded Form Library: In addition to the core forms, Plus includes more specialized forms, such as estate and trust, nonprofit, and gift tax returns.

Advanced Data Import: Improved data import capabilities support a more comprehensive range of financial institutions and account types, reducing manual data entry.

Document Management: Enhanced document management features allow for better organization and storage of client documents, making retrieval and review more efficient.

Client Organizer: A tailored client organizer helps collect required information from clients, ensuring all pertinent data is gathered before preparing returns.

Tailor-made Reports: Create detailed reports that cater to individual client requirements, offering valuable insights and assisting in decision-making.

Ideal For:

• Growing tax practices
• Firms dealing with a variety of tax situations
• Professionals need more robust document and client management

Finally, Lacerte Advanced. What does it mean, and who’s it ideal for?

Lacerte Advanced: Comprehensive Solutions for Complex Tax Needs

Lacerte Advanced is the top-tier package for large practices and firms handling complex tax situations. It offers the most comprehensive features, ensuring tax professionals have the tools to manage intricate scenarios efficiently.

Key Features

Complete Form Coverage: Advanced includes all federal, state, and local tax forms, covering every possible tax scenario a firm might encounter.

Sophisticated Data Import: The most advanced data import capabilities support extensive integration with various financial institutions, accounting software, and more, ensuring seamless data flow.

Advanced Document Management: This software offers strong document management with secure storage, simple access, and comprehensive organization features.

Workflow Automation: Streamline everyday tasks and processes, boosting efficiency and creating space for essential tasks.

Comprehensive Analytics: Utilize advanced analytics and reporting tools to understand client data and practice effectiveness thoroughly.

Priority support is provided to advanced users, guaranteeing quick and efficient resolution of any issues.

Ideal For:

• Large tax practices and firms
• Professionals handling complex tax scenarios
• Firms requiring comprehensive document and client management
• Practices seeking workflow automation and advanced analytics

A short comparison of the three -

Comparing Key Aspects

1. Form Coverage

Essentials: Core forms for federal individual, partnership, corporate, S-corporation, and fiduciary returns.

Plus: Includes core forms and additional specialized forms (e.g., estate and trust, nonprofit, gift tax).

Advanced: Comprehensive form coverage, including all federal, state, and local forms.

2. Data Import

Essentials: Basic imports from financial institutions and previous returns.

Plus: Enhanced imports from a broader range of sources.

Advanced: Sophisticated import capabilities with extensive integration options.

3. Document Management

Essentials: Basic client document management.

Plus: Improved document management with better organization and storage.

Advanced: Robust document management, including secure storage and comprehensive organization tools.

4. Workflow and Automation

Essentials: Basic features, focusing on core tax preparation needs.

Plus: Customizable client organizers and advanced reporting tools.

Advanced: Workflow automation, advanced analytics, and reporting tools.

5. Support

Essentials: Standard support.

Plus: Enhanced support with additional resources.

Advanced: Priority support ensures quick resolution of issues.

Choosing the Correct Option

Choosing the right Lacerte package depends on factors such as the practice’s size, the complexity of tax scenarios, and specific feature needs.

Here’s a closer look at how each package aligns with different practice needs:

For Small Practices or New Users:

Lacerte Essentials is ideal, offering all the necessary tools for basic tax preparation without overwhelming features.

For Growing Practices with Diverse Tax Needs:

Lacerte Plus provides enhanced functionality and expanded form coverage, making it suitable for firms experiencing growth and dealing with more varied tax scenarios.

For Large Practices Handling Complex Situations:

Lacerte Advanced is the best choice, offering comprehensive solutions, advanced data import, robust document management, and priority support to handle the most intricate tax situations efficiently.

Streamline Tax Preparation with Lacerte Cloud Hosting

Streamline your tax preparation with Lacerte Cloud Hosting, a powerful solution for tax professionals. This cloud-based service allows you to access Lacerte software anytime, anywhere, ensuring flexibility and convenience.

With Lacerte Cloud Hosting, collaboration becomes seamless, enabling multiple users to work on the same files simultaneously. Security is paramount, with robust encryption protecting your sensitive data. Automatic backups ensure your information is always safe and recoverable.

Additionally, the cloud environment reduces IT costs and simplifies software updates. Embrace Lacerte Cloud Hosting to enhance efficiency, improve accuracy, and deliver exceptional service to your clients with ease.

Conclusion

Tax professionals must distinguish between Lacerte Essentials, Plus, and Advanced to enhance their practice’s efficiency and accuracy. \

Every package provides a distinct range of features designed for particular requirements, guaranteeing that all practices, regardless of size, can discover the perfect match.

Essentials lay the foundation with core tools and basic functionality, perfect for smaller practices or those new to Lacerte. Plus, it builds on this foundation, offering additional features and enhanced capabilities for growing practices.

Finally, Advanced delivers the most comprehensive solution for large firms dealing with complex tax scenarios and seeking robust management tools and priority support.

By carefully evaluating the features and benefits of each package, tax professionals can make an informed decision, selecting the Lacerte package that best meets their practice’s needs and helps them achieve their goals efficiently and effectively.