UltraTax CS Software: Overview, Features, Pricing
UltraTax CS, a multi-tool for tax preparation by Thomson Reuters, caters to big firms that handle up to 250 tax returns annually. It’s a powerhouse that makes the tax process easier and more efficient.
An automated, time-saving software, UltraTax CS helps in boosting your output. You get quick access to a complete set of forms for local, federal, and state return forms — 1040, corporate returns 1120, partnership returns 1065, and estate and trust returns 1041 — at your fingertips.
You can use the software or connect it with other tools in the CS Professional Suite, such as eSignature and Planner CS, SurePrep, Checkpoint, and Onvio Firm Management, to easily manage your client requirements.
It manages everything from start to finish, offering a unique experience that changes how you manage taxes.
Also Read: UltraTax vs. Lacerte: Which One You Should Pick For Filing Returns
Is it cloud-based?
UltraTax CS can be installed on PCs or workstations and offers a cloud solution. You can configure the desktop version on the cloud to create a virtual office and access your data from anywhere, anytime.
Ultratax CS Features
UltraTax CS is not just a program; it’s your go-to assistance for tackling tricky tax prep quickly and skillfully. Its wide range of features simplifies the workflow and augments your tax management system.
Let’s explore its features:
1. Multiple Monitors
With UltraTax CS, you can work on multiple monitors, a maximum of four monitors simultaneously. This is useful for tax preparers who work with a large amount of data; the multi-monitor facility makes reviewing and managing complex tax documents easier.
When forms, inputs, and documents are spread over different screens, their use can significantly improve efficiency and minimize the need for flipping between windows, thus mitigating errors.
This feature is helpful for senior managers, preparers, and administrative workers. Implementing multiple monitors cuts down on paper and printing expenses, contributes to a paperless operation, and projects a tech-savvy image to clients.
Furthermore, you can choose which team members require several monitors and decide on the screen layout.
2. Data Mining
This effective search tool assists you in evaluating advisory niches and improving your handling of clients’ services.
UltraTax CS allows you to quickly identify which clients scored high on new tax laws or any changes in your service level, which may assist you in giving relevant advice to the clients.
3. Instant Prep Checklist
This checklist, included in the software, allows you to extract information from your client’s prior-year tax return. It assists you in making a successful start to a new tax year and saves time from gathering data for each client from scratch.
4. Smart Calculations
The software allows you to preview data in real time and make highly accurate calculations to manage different tax situations in the initial stage.
This freedom from long calculations means you can see the implications of each entry instantly, manage returns with precision, and give your clients accurate information.
5. Easy Data Sharing
With this feature, you can enter data into your client’s tax return and automatically populate all relevant areas on other linked tax returns.
This feature decreases the workload, time spent, and errors related to manual information filling in the areas of related tax returns by auto-completing key fields in all related tax returns.
6. E-Filing and Online Dashboard
The software addresses electronic filing and contains features that enable one to track filing. With the returns, you can ascertain the state of the process and confirm there is no error before submitting the returns.
Easily accessible from any device, the online dashboard lets you constantly monitor the e-file status or work on returns.
7. Multi-State Processing and Returns Availability
UltraTax CS correctly handles multi-state returns and has detailed programs for federal, state, and local tax returns. It enables law firms to capture clients from other states and increase their business revenues.
8. Advanced Diagnostics
Get notifications about any outstanding issues with a comprehensive checklist indicating the fields where this year’s data is missing. This feature also enables you to compose emails for clients to document missing information and prepare the proper tax document.
9. Pricing
UltraTax CS understands each firm has different needs; therefore, its pricing is as flexible as your practice.
Whether you are a small firm or process high levels of tax returns, UltraTax CS offers pricing strategies to match your needs.
Pricing options:
Basic Model: For those who want a straightforward service, there is the Basic package that costs CA$2500 per year. This pricing is ideal for firms needing a less expensive solution to the problem.
Custom Pricing: Custom pricing for UltraTax CS is available based on the number of users, tax returns, and states and jurisdictions of operations.
Per-Return Pricing (PRP) + licensing: Per-Return Pricing (PRP) can be a licensing option. This option allows you to pay for each return not covered by an unlimited license.
Why opt for Ultratax CS Cloud Hosting Solutions?
Ultratax CS cloud hosting lets you access your tax software and files anytime, anywhere, on any device.
It enhances data security with advanced protections like encryption and regular backups, ensures smooth performance with high-speed servers, and eliminates the need for costly hardware upgrades.
Plus, you get 24/7 technical support to handle any issues. It’s a smart, secure, and efficient solution for tax professionals.
Conclusion
Implementing UltraTax CS could be helpful for your firm as it supports multi-user access in real-time, seamless scalability, easy accessibility from anywhere, and much more.
Its cloud facility guarantees business continuity and data protection with a backup function and high-level security for your data. As UltraTax CS integrates seamlessly with other tools and software, it could be an ideal solution to make your workflow easy and effective.
