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ProSeries Tips and Tricks to Save Your Time

As you head towards the tax season, there are four of the major features of Intuit’s ProSeries you should know about will help you save your time and become more productive.

1 – Tax Return Input Guidance

One of the keys to save time is to understand the Forms Index, the main index for Form-1040. By scrolling up & down the Forms Bar, you will see the various forms, worksheets, and schedules categorized in a wide range of ways:-

● The first category will be ‘Forms in Use’, which identifies the active forms for the client’s return that you’ve open.
● Next, you will see the ‘Common Forms’ category, which displays and consolidates the most popular forms that are used when preparing the returns.
● Then you’ll notice a section that begins with ‘General Info’, followed by ‘Income’, ‘Adjustments’, ‘Deductions’ etc.

These sections are basically designed to follow the most common order of the data input that is used while preparing the income tax returns.

Each section can be expanded to reveal the sub-headings that will further group the available forms, worksheets, and schedules within ProSeries.

● Further down the Forms Bar, there will be the ‘All Forms’ section. This section starts with the series of hyperlinks and the topics that are displayed in blue.

The first item in the list, ‘Forms Index’, provides a categorical listing of multiple sections of return, along with the QuickZooms to open the desired section quickly.

QuickZooms will open to the tax form, worksheet, and the schedule you want. The Form Index is a popular resource available to assist you in the preparation of the tax return and guides you in quickly locating the required forms.

The Form Index can also be accessed from the Open Forms section.

The width of the Forms Bar can also be customized to make it narrower or wider. You just need to simply grab the right edge of the forms bar with the help of your mouse and then drag the edge to adjust the size.

2 – The Quick Entry Sheets

In ProSeries tax software, there is the Quick Entry Sheets that offer an alternative method of entering the data, enables you to work right on the tax form or the worksheet. The Quick Entry sheets include only the enter-able fields, thus, it eliminates much of the scrolling that required in the forms method.

For example, if you have some assets to enter, then the ‘Asset Entry Worksheet’ in the Quick Entry view contains the table that you can use to record the assets quickly. You can use either method for an entire return, or switch back and forth between the methods to maximize your data entry productivity.

To switch, you have to click on the page icon which is at the top of the screen, or you can use Ctrl+M. You can also go to the ‘File’ which is on the menu bar and then select ‘Go to Quick Entry Mode’ (or Go to Form Mode).

3 – Client Presentation or Client Advisor

This feature allows you to provide the federal individual clients with the visually appealing charts and graphics on the income & deductions, bottom line, and comparisons with the prior years.

You are also able to generate a list of (up to 71) personalized tax planning suggestions about how your clients can help in reducing their future taxes. If you want to use Client Presentation and Client Advisor features, your computer with ProSeries software must have Microsoft Excel 2003 or later version. (With ProSeries tax software hosting, you don’t need to worry about it).

For best results, you have to first complete the client’s federal individual return. Then, go to the Tools menu, select ‘Client Presentation’ and then click on ‘View Client Presentation in the Excel’. The ‘next’, ‘previous’ and ‘zoom’ buttons which are near the top of the ‘Excel Print Preview’ window allow you to see each of the four Client Presentation and Client Advisor pages.

4 – Tax Planner and What if Worksheet

Being the Tax Planner, ProSeries tax software has various options for projections or calculating the different scenarios, in the most comprehensive way. Please note that this feature is not available in ProSeries Basic version.

There are generally two main Tax Planner Worksheets that you’ll need to fill up: The ‘Tax Planner Summary Information Worksheet’ and the ‘Tax Planner Taxpayer Information Worksheet’. You will see four columns when you open the Tax Planner Summary Information Worksheet.

The first column of Tax Return will show the current tax return amounts. Each Tax Planner Summary Information Worksheet enables you to view up to 3 tax plans. If you like more than 3 tax plans, so you can also add an additional Tax Planner Summary Information Worksheet.

There are total nine other Tax Planner Worksheets that you can fill as necessary:-

1. Tax Planner Investment Income Worksheet.
2. Tax Planner Rents, Pass-through Entities, Royalties, and Other Income (Loss) Worksheet.
3. Tax Planner Business Income/Self-Employment Income Worksheet.
4. Tax Planner Passive Activity Income and Loss Worksheet.
5. Tax Planner Itemized Deductions Worksheet.
6. Tax Planner Adjustments Worksheet.
7. Tax Planner Taxes, Payments, and Credits Worksheet.
8. Tax Planner Alternative Minimum Tax Worksheet.
9. Tax Planner Credits Worksheet.

To use the Tax Planner, click on the Forms menu, click ‘Select Forms’, and press ‘PL’ on the keyboard and then it will be entered into the ‘Find box’- highlight the ‘Tax Planner’. Click on OK, enter a plan description and then click on ‘Create’.

The ‘What-If’ Worksheet is less detailed than the Tax Planning worksheet, and it is only available in ProSeries Professional and ProSeries Basic. To use the worksheet, go to the Forms menu, choose ‘Select Forms’, and type ‘WH’ on your keyboard and then it will be entered into the Find box – highlight the ‘What-If’ Worksheet. Now click on ‘OK’ to get started.

We hope above tips and tricks can save your time for this tax season! For more convenience and hassle-free experience, you can go for ProSeries tax software hosting services with Techarex Networks

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