9 Most Beneficial ATX Tax Software Features for Firms

ATX from Wolters Kluwer is one of the most reputed tax preparations and filing software for individuals and small firms. According to a Journal of Accountancy survey, approximately 70% of respondents rated ATX highly because of its user-friendliness, higher than Drake, Lacerte, and other tax software.

It offers an intuitive forms-based interface, allowing tax professionals to enter tax information and file returns efficiently and accurately. Additionally, it has a vast library of over 6,000+ compliance forms.

The handy features of ATX software make it ideal for small to medium-sized tax and accounting firms. However, to know the detailed functionalities of these advanced features (integrations, diagnostic tools, and many others), read further…

Best Features of ATX Tax Preparation and Filing Software

Let’s dive into the features of ATX tax software in detail. ATX offers a comprehensive suite of functionalities that are mainly designed to streamline the tax preparation process for professionals. Key features include:

User Interface

ATX offers a user-friendly interface designed to simplify tax return management. The software offers three basic views: Manager View, Open Return View, and Diagnostics Pane, along with Easy View for a quick summary of tax returns.

Key interface elements of ATX tax software are: Main Managers, Setup Managers, and a Manager Pane with filters and pagination controls.

The Open Return Interface allows you to view multiple returns simultaneously, while the Diagnostics Pane helps detect errors and e-filing issues.

Comprehensive Tax Compliance Forms Library

ATX tax software supports a library of over 6,000+ tax forms, such as 1040, 1040NR, 1065, 1041, 1120, 1120S, and corresponding additional schedules.

It also supports a wide range of specialty tax forms, such as 5500, 706, 990, and 709.

The library is handy for tax preparers, as they can find what they are looking for in one place, which helps with efficient tax filing.

Interview Tool

The Interview tool guides users through a series of questions for the return, populating forms with entered data in real-time. Here are some of its key features:

• Real-time Data Entry: As you enter data, forms update simultaneously.
• Automatic Form Addition: Required forms and schedules are added based on responses.
• Direct Form Entry: Some sections require information to be entered directly into forms.
• Easy Access: Start the Interview via the toolbar or Navigate menu.
• Resume Feature: If re-opened, the interview will continue where you left off.
• Organized Sections: Divided into tabs like Client Info, Income, and Deductions for comprehensive return completion.

Tax Organizer

The Tax Organizer feature in ATX tax software streamlines tax preparation by efficiently gathering and organizing client information. It simplifies the process by providing a structured format for clients to input their financial data, ensuring all necessary details are captured.

This feature includes income, deductions, credits, and other pertinent tax information sections. It guides clients through each step, making it easier for tax professionals to review and input data accurately, helping prevent errors and omissions.

Choose the comprehensive organizer option if you want to send the clients a more detailed worksheet. To add an organizer to the return, click Forms > Organizer > Add Organizer.

Knowledgebase

The ATX knowledgebase provides information about all the ATX-related queries, including procedures and setup. It is an efficient way for users to get help with any issues regarding the ATX software.

The knowledgebase can be accessed by logging in to the ATX Solution Center. There, you can see the Knowledge Library option. The Knowledge Library contains information on all the ATX products, including ATX Advantage, ATX e-file, and ATX PRS.

Select any product you want answers to and type the query you wish to search. All the searches related to your query will be displayed. You can filter your search by topic (Documentation, FAQs, Problem Resolution, How-to).

Data Backup and Restore

ATX software includes a data backup feature to secure all critical tax data. By default, any tax return is backed up automatically as soon as it is closed. In addition, the Company, Payer, Billing, and Preparer/ERO information is also backed up automatically.

The Backup and Files Preference tab in ATX allows users to identify or change the location to back up and store returns and data.

By default, ATX has an Automatic Backup Preference enabled upon installation. This feature ensures that all returns, e-files, bank product information, asset data, and PDF attachments are automatically backed up whenever closed.

Additionally, data from the Company Manager, Payer Manager, Preparer/ERO Manager, and Billing Manager is backed up two minutes after any change or upon closing.

Admin users are advised to change the default backup location to another drive to prevent data loss in case of a computer or server failure.

Client Letters

Client letters in ATX are essential for effective communication with tax firms. These professional documents, created using ATX tax software, streamline the exchange of information between tax professionals and their clients.

Some notable features of Client Letters include adding logos, signatures, and tables and incorporating variables for personalized content. It ensures accurate and clear communication, aiding in accurate tax preparation and client satisfaction. For more information, read this detailed blog on client letters in ATX.

Robust Diagnostic Features

ATX’s diagnostic features streamline tax preparation by identifying e-filing errors, omissions, and overridden entries with Check Return Track.

With every entry, the Refund Meter provides instant updates on refund or balance due amounts. Additionally, the software offers seamless navigation between forms using Page, Worksheet, and Form tabs.

These tools enhance accuracy, efficiency, and ease of use, ensuring smooth tax preparation.

Tax Research Made Easy

ATX offers comprehensive tax research tools that are at your fingertips. It lets you quickly access IRS form instructions and schedules and benefit from in-line help options for immediate answers.

All ATX packages include valuable research resources from CCH® AnswerConnect and the US Master Tax Guide®, ensuring you have accurate and efficient tax preparation tools.

Streamline ATX Tax Preparation and Filing with Cloud Hosting Services

While the desktop version is robust, it has several limitations, such as limited accessibility, data security concerns, and dependence on local hardware.

On the other hand, ATX cloud hosting solutions eliminate these challenges by offering cloud-based access, ensuring you can work from anywhere with enhanced data protection.

It also improves collaboration among team members and provides automatic updates, ensuring everyone uses the updated version.

With ATX software hosted on the cloud, you have the added advantages of remote access, hassle-free tax data sharing, and enhanced data protection.

Conclusion

Leveraging cloud hosting for ATX software offers numerous benefits, such as cost-effectiveness, operational flexibility, enhanced security measures, automated updates, improved collaboration, disaster recovery solutions, and environmental sustainability.

For tax professionals aiming to maximize profit and minimize expenses, adopting cloud technologies is key. It will also enhance customer service, streamline operations, and provide a competitive edge in the increasingly digital landscape.

If you have any questions about ATX tax software, please let us know in the comments section.

Frequently Asked Questions (FAQs)