Top Best Lacerte Add-ons for Accountants and Tax Preparers

Lacerte is a renowned professional tax preparation software offered by Intuit. It provides features and tools for error diagnosis, automated calculations, tracking missing data, tax law alerts, and more. It has helped CPAs, accountants, and tax preparers save a significant number of hours by increasing their overall productivity and efficiency.

However, it lacks certain functionalities required for specific tasks. For example, tax preparers need to import accounting reports into the Lacerte software to improve their tax filing process. Hence, to fulfill growing business demands, different add-ons need to be integrated.

Here’s a list of top add-ons for Lacerte tax software that will help you prepare and file returns faster and easier.

Let’s have a look at the detailed use of each add-on:

1. QuickBooks

QuickBooks is a popular accounting software solution that is used to carry out a variety of financial tasks. It simplifies the work of accountants, such as managing bills, facilitating payments, tracking payrolls, report generation, and more, by automating these tasks.

Lacerte tax software seamlessly integrates with QuickBooks to save the average time spent on filing returns. One can easily import the accounting reports prepared in QuickBooks directly into the tax software. It further increases accuracy by eliminating manual data entry tasks.

Here are some of the benefits of integrating Lacerte with QuickBooks Desktop:

1. Seamless Data Import: QuickBooks integration allows direct importing of client data, including income, expenses, and other relevant financial information, into Lacerte.
2. Automatic Updates: When client financials in QuickBooks are updated, the information automatically syncs with Lacerte, keeping tax data up to date.
3. Error Detection and Validation: With QuickBooks integration, you can easily identify discrepancies in client financials, such as missing data, before importing them into Lacerte.
4. Enhanced Reporting Capabilities: After integrating QuickBooks with Lacerte, you can generate more detailed tax reports and get more insights into taxable income, deductions, and liabilities.
5. Efficient Data Management: QuickBooks and Lacerte integration allows storage and access to client data from one interface, streamlining data management across platforms.
6. Increased Productivity During Tax Season: This integration is beneficial when handling high volumes of data is critical.

2. SmartVault

SmartVault helps digitize the workflow and provides solutions for secure storage and sharing of crucial documents. It also provides a reliable way to collaborate with the team and clients on the required file through the built-in client portal.

Intuit Lacerte integrates with SmartVault to automate document management and file sharing. It automatically imports client data created in Lacerte tax software into the SmartVault.

This add-on also provides built-in templates for new tax seasons, engagements, or clients. SmartVault provides bank-level encrypted security for file sharing and offers an audit trail of employees and client activities for better management.

Additional benefits of Lacerte and SmartVault integration:

1. Automated File Organization: SmartVault streamlines document handling by automatically organizing client folders, assigning permissions, and setting up user accounts.
2. Efficient Tax Return Processing: You can print and direct tax returns into organized client folders by tax year, saving time and minimizing errors. This automated routing is faster and more accurate than manual methods.
3. Client Collaboration and E-signatures: Through SmartVault’s portal, clients can review, approve, and e-sign documents online. This feature enhances the review process and lets you monitor real-time interactions.
4. Streamlined Migration: If switching from another system, SmartVault provides migration support, easing the transition and ensuring all client files are securely moved and organized.

3. Intuit Link

Intuit Link is an online portal for data collection in an organized and efficient way. It provides a secure platform, which uses 256-bit encryption to send and receive confidential information from clients. It lets clients be informed of the paperwork that is required by notifying them through custom document requests.

Lacerte software is integrated with Intuit Link for fast and accurate tax filing of returns. It provides automated scheduling of reminders as per the business needs. It makes the tax filing process easier for tax professionals by sending questionnaires to gather the required information from clients.

4. OfficeTools Workspace

OfficeTools Workspace creates a centralized platform for CRM, time and billing, project tracking, and more. It enables employees to use the same database to access any kind of information for their work. Additionally, it also allows businesses to manage all the digital documents.

Lacerte tax software integration with OfficeTools Workspace helps to organize the tax returns, automating workflow, audit trailing, etc. This integration also eliminates data redundancy from accounting and tax software to improve productivity.

5. Pay-By-Refund

Pay-By-Refund provides a simple and easy method to collect payments from clients. The tax preparation fee is collected directly through the refund. It offers strong identity-theft protection through the following services:

• Identity restoration
• Identity theft insurance
• Certified fraud resolution specialists

Lacerte integration with Pay-By-Refund ensures worry-free and convenient payment without any out of the pocket cost for clients. The ID-protection feature brings peace of mind to taxpayers.

6. BigTime IQ

BigTime IQ is a professional software which provides time and billing services to firms. It helps to manage clients and track engagements using a real-time dashboard. Furthermore, reports can be created using built-in tools for better insights.

Lacerte tax software integrates with BigTime IQ in order to sync tax files and control engagements. The real-time dashboard helps to manage the tax practices and track progress on a single platform.

Here are some additional features of integrating Lacerte with BigTime:

• Unified Time and Expense Tracking: BigTime enables professionals to track billable hours and expenses in one place. These records can be linked directly to client tax preparation by integrating with Lacerte.
• Improved Data Accuracy: The integration between Lacerte and BigTime ensures that all relevant project and expense details are consistently accurate across both platforms.
• Real-Time Financial Insights: The integration between Lacerte and BigTime provides up-to-date financial and project data, which is valuable for planning and forecasting.
• Streamlined Billing and Invoicing: By linking BigTime’s tracking and invoicing features with Lacerte, firms can create accurate, timely invoices based on billable hours and expenses.

7. E-Signature by DocuSign

E-signature is a service by DocuSign that helps to complete approvals and agreements conveniently. It offers a digital signature service to improve the customer experience. This process provides the required signatures within a short duration instead of days and hence saves time.

Lacerte is integrated with DocuSign (e-Signature) to collect signatures from clients globally and serve them better. It cuts down the printing and mailing cost, which, in turn, contributes its bit to the environment.

8. eFileCabinet

eFileCabinet is a powerful document management software with built-in automated tools. It provides solutions to track documents, automate simple manual processes, and securely store important data.

eFileCabinet uses Zonal OCR technology for text search and automated data entry. It also safeguards data with two-factor authentication, encryption-based file sharing, location-based authentication, etc.

Lacerte tax software integration with eFileCabinet improves efficiency by automating data entry, which further reduces the chances of errors. It uses smart automation to recognize data from any document and intelligently organize it according to the information provided. Businesses can get an in-depth look at their tax filing processes using real-time dashboards.

9. SurePrep

SurePrep provides services to streamline the 1040 tax automation process. It uses a combination of three tools:

• TaxCaddy
• 1040SCAN
• SPbinder

TaxCaddy is used for conveniently assembling essential documents either by directly uploading them or taking a snap of the required file using the mobile camera. 1040SCAN further automates the tax filing process by extracting data from these documents. SPbinder is used to reduce the review time by providing tick-marking tools, calculator tapes, and hyperlinks for cross-reference across all files.

Lacerte software, when integrated with SurePrep, simplifies the tax filing process by exporting the extracted data from documents directly into the tax software.

10. EasyACCT

EasyACCT is a one-stop solution to simplify the accounting firm’s work, including:

• Write-ups
• Accounts Payable
• Accounts Receivable
• Asset Depreciation

It also helps to e-file tax forms: 940, 941, and 944, easing the tax filing process. EasyACCT also provides access to more than 30 tax forms and is updated regularly for the seamless filing process.

Lacerte tax software integrates with EasyACCT to prepare tax returns quickly and seamlessly. This integration allows tax preparers to transfer year-end balances into the tax software and save time spent on manual entry of the required data.

11. Lacerte 1040 Tax Planner and Analyzer

Lacerte 1040 Tax Planner and Analyzer is a bundled tool aimed to improve productivity and efficiency for accounting tax-related tasks. It consists of two parts- Tax Planner and Tax Analyzer.

Tax Planner offers four types of tax plans: Year analysis, Difference analysis, Married Filing Jointly/Married Filing Separately comparison, and Adjustment analysis. On the other hand, Tax Analyzer offers tax minimizing strategies depending upon the type of business and its insights.

Integrating Tax Planner and Analyzer with Lacerte tax software provides custom planning services. It analysis taxpayer’s scenario based on information provided to give a detailed report.

12. Engagement Manager

Engagement Manager, earlier known as AdvanceFlow, is an audit engagement and management tool by Thomson Reuters. It seamlessly integrates with other Thomson Reuters products, such as Checkpoint Engage and GoFileRoom, offering a collaborative platform for teams to manage audits efficiently.

Some of its key features include:

• Workflow Management: Facilitates the management of multiple engagements, task assignments, and project tracking.
• Cloud Collaboration: Provides a centralized platform for real-time collaboration across teams, regardless of their location.
• Document Management: Stores and organizes audit documentation with easy access controls and versioning.
• Integration: Works seamlessly with other Thomson Reuters products to optimize the audit and tax preparation process.
• Customization: Allows firms to customize workflows and reporting templates to fit their specific audit needs.
• Security: Offers high-level data protection with secure cloud storage.

13. Lacerte Tax Scan and Import

With the Lacerte Tax Scan and Import addon, you can easily import tax data into Lacerte directly from source documents.

It also allows you to import tax filing data directly from financial institutions and payroll service providers. This Lacerte addon helps tax professionals streamline the workflow, from document scanning to tax return completion.

Here are the following notable features of the Lacerte Tax Scan and Import addon:

• Automatic data entry and error reduction: Tax professionals can scan client tax documents and import them directly into Lacerte instead of manually inputting data from them.
• Better document management: Lacerte Tax Scan and Import also helps organize and store scanned documents in a centralized location, simplifying record-keeping and compliance.
• Quicker tax processing: The ability to import data quickly allows tax professionals to prepare and file client returns faster, especially during peak tax season.
• Accurate filing: By minimizing the risk of input errors, Lacerte Tax Scan and Import helps ensure compliance with IRS regulations, reducing the likelihood of audits or penalties due to inaccuracies in tax returns.

14. Doc.It

Doc.It is a document management and workflow system for tax and accounting professionals. Combined with Lacerte tax software, it streamlines critical tasks, making tax preparation faster and more organized.

By storing all documents in one place, Doc.It saves time tax professionals might otherwise spend searching for files. This single repository allows quick access to client files, making tax return work smoother and helping staff stay organized. Additionally, Doc.It automates repetitive tasks, reducing manual steps and bringing consistency to each client’s work.

Its integration with Lacerte, Doc.It enables direct tax data transfer from managed documents to tax forms, minimizing data entry errors. This integration speeds up the filing process and reduces duplication so tax professionals can complete returns accurately and on time.

Wrapping Up

Integrating the right add-ons with Lacerte Tax Software can transform how tax professionals manage their tax preparation and filing process. From automating data entry to enhancing project management and streamlining communication, these Lacerte add-ons provide essential tools to boost productivity and accuracy.

For seamless performance and secure access, consider Lacerte Hosting Solutions by Ace Cloud Hosting, which is tailored to enhance your tax practice further.