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Federal Income Tax |
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Specific Features
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General Features
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General Features |
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Installation & Setup |
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- Self-installed applications available in two separate
formats of CD Plus Internet Updates and/or 100% Internet-Based Program
(CORPORATE Pro Online)
- The Internet-Based version (CORPORATE
Pro Online) is offered hrough a series of extremely secure and
super-powerful Citrix Servers provided and maintained 24-7 by TaxSation,
or if you already have a Citrix Server
and prefer to use your own, it can be installed on your environment
- CORPORATE Pro Online,
using our servers, eliminates the need to ever have to install the applications
or perform routine Internet Updates and it offers hourly data backup
- CORPORATE Pro Online
allows simultaneous access to the programs and files by several users
from any computer in the world under the most secure conditions
- No Need for a dedicated server and minimum or no IT
involvement
- User-friendly interface resulting in a reduced learning
curve
- 100% Windows applications with all the familiar Windows
functionality
- Built-in security features to allow/restrict access
to the modules, returns, or companies and the level of activity based
on the user’s assigned rights
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Data Entry |
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- Automatic transfer or Rollover
of prior year data including prior year balances, prepayments, overpayments
and so much more
- Special programming design providing an easy solution
for transferring prior year data from another software package to CORPORATE
Pro
- Spreadsheet-designed, centralized Input
Schedules with copy/paste capability all throughout the software
- Customizable ASCII and/or Excel Import of General
Ledger or Adjusted Trial Balance regardless of the GL package used
- Easy, customizable and One-time
Import Template Setup through a simple Wizard,
enabling Mapping the GL/Adjusted Trial
Balance data onto CORPORATE Pro schedules
and tax returns that can be used year-after-year
- Availability of Import of
NAIC Diskette information from any Annual Statement package for
all types of Insurance companies
- Availability of separate Book data including GAAP,
International GAAP, Other GAAP and STAT
- Ability to override any calculated value with detailed
Override Summary Report to track each override
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Productivity Tools |
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- Full product integration between CORPORATE
Pro Federal and all other modules
- Availability of Stand-alone version of each product
or the choice to purchase in conjunction with each other for maximized
savings
- Variety of User-defined Options
to enable full customization of calculations
and general behavior of the software
- Multiple, built-in batch processing functions for
calculations, updates and printing
- Customizable Automatic Adjustments,
containing Deferred Tax Attributes, to keep your returns in balance
and at the same time be synchronized with Schedules
M1 & M3
- Ability to prepare returns on spreadsheet schedules
while including all adjustments & reclass entries and keeping track
of Temporary & Permanent Differences
- Automatic creation of a variety of supporting schedules
and workpapers for both required filing and/or internal company reporting
purposes
- Additional capability to
attach any type of documents (PDF, Excel, Doc, etc.) to any line
of the return and even file the attachments Electronically (PDF)
- Extensive On-line Help and inclusion of ALL Federal
& State Return Instructions
- Detailed & summarized customizable Check Request
Schedules
- Customizable Export of Check Request data to your
AP department based on their exact specifications
- Highest industry rating for forms approval
- Electronic filing of all
required forms through a single push-button approach with a guaranteed
accurate transmittal
- Automatic generation of Electronic
Filing Diagnostic Report to check for the accuracy of all IRS
Business Rules
- Automatic handling of barcodes and scan lines of all
required forms
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Management Level Tools |
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- Detailed Diagnostic Report
for Out-of-Balance situations and other return discrepancies
- Variety of Audit Trail
tools & Drilldown capability
- Built-in Crystal
Report Technology enabling you to produce ANY needed reports
- Incorporation of several Built-in Reports such As
Tax/Book Balance Sheet/Income Statement & Adjustment Details
- Reclass Summary Reports identifying the detail of
reclassed items
- Inclusion of Calc History Report to track changes
to key values such as Total Income, Deductions, Tax, Changes to M1,
etc.
- Other Specific Reports tracking data from the Input
Schedules or Annual Statement all the way to the returns
- Management Reports including Summary
of Taxes Schedule showing your overall company tax situation
while calculating detailed figures for taxes, fees, penalties and effective
tax rates at both the federal and state level
- Built-in tools for a variety of forecasting
functions and conducting “What-if”
analysis
- Customizable Mode, Form & Field Locking Options
to lock computations after any point in time or upon completion
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Federal Specific Features |
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- Nicely laid out Input
Schedules designed for customizable ASCII and/or Excel
Import of General Ledger and/or Adjusted Trail Balance along
with an easy-to-use Mapping Wizard
that can be set once and be used every year for all companies
- Annual Statement screens for import of NAIC
Diskette data from any Annual Statement package for all
types of insurance companies
- Import of Life Annual Statement data for
both General & Separate Accounts
- Detailed Carryover
Schedules including Operating Loss Worksheet, Charitable
Contributions, Capital Losses, Section 1231 Recapture and Credits
- Operating Loss Schedule
to calculate your current year losses, including SRLY &
Non- SRLY, AMT and NOL, automatically generating Form 1139 when
needed
- Charitable Contributions
Schedule to record current and prior year contributions, including
both 5 & 15-year contribution rules
- Capital Loss Schedule
designed to work well with the Schedule D in maintaining capital
loss information
- Section 1231 Recapture
Schedule to calculate the non-recapture loss, the amount
of loss recaptured and the remaining non-recaptured loss
- Credit Carryover Schedule
to show amounts of carryover, if any, from the various credit
forms in your prior year return
- Foreign Tax Credit
Schedule as a starting point for the preparation of Form
1118
- DAC Schedules
(unique to Life companies) to process applying Section 848 requirements
for Deferred Acquisition Cost based on both 60 & 120 Month
Amortization methods
- Required Reserve Interest
Worksheets (applies to Life companies only) to assist
in specific calculations of 1120-L, Schedule F
- Unique, customizable, user-defined Options
for each type of Federal return allowing you to change the calculations
and choose among the long list of Automatic Adjustments made
by the software
- Choice of making all your adjustments and
reclasses on your returns or on spreadsheet-designed Input
Schedules or even Trial Balance Provisions screens for
any given period of the year
- Adjustment Detail Dialog
Box to let you determine or change the type of each adjustment
or reclass, along with choices to further categorize the adjustment
as GAAP, Statutory, GAAP-to-STAT,
GAAP-to- TAX or STAT-to-TAX, even options to modify which line
of M1 and M3 to hit, and finally elections of individual adjustment’s
tax attribute and timing difference
- Reclass Summary
listing the details for all reclasses and alerting you when
they go out-of-balance
- Diagnostic Summary
generating a list of items needing further review
- Availability of International
forms such as 5471, 5472, 1118
and Schedule N along with a separate module for calculation
of 1120-F
- Unique features made for insurance companies
including the handling of Failed-816
Situations
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