Top 10 Super Useful Add-ons For Drake Software

Drake Software is one of the most widely used tax filing and preparation software for tax professionals and firms. Its intuitive interface simplified functionality, and competitive pricing make it a top choice for individuals and small—to mid-size businesses.

It offers numerous features, such as instant calculation results, dynamic autofill, error diagnostic tools, and more, to streamline your tax preparation process.

However, based on your business requirements, you might need some features added to the Drake Tax Software. Luckily, Drake supports integrations with third-party applications to enhance its functionality and allow you to encounter any hiccups during your tax filing workflow.

In this blog, we will explore the most widely used add-ons or integrations for Drake Tax and how these add-ons can boost your tax firm’s overall productivity. 

Now, without any further ado, let’s begin.

1. QuickBooks

QuickBooks is one of the most extensively used accounting software programs in the market. It offers tools to manage expenses, generate reports, and simplify the tracking of bills, transactions, payrolls, tax returns, etc. QuickBooks is an all-in-one accounting solution that organizes business finances in one place.

The tax reports generated in QuickBooks are necessary for filing tax returns. QuickBooks, when integrated with Drake Software, automates data entry by importing financial data and reports directly into tax software. This further improves accuracy, saves time, and increases productivity.  

2. SecureFilePro

SecureFilePro is a web portal system for securely and conveniently sharing confidential documents between you and your clients. It offers an easy-to-use interface and lets you upload data into files and folders. 

SecureFilePro integration with Drake Tax allows you to collaborate with your team on a common platform. It uses 256-bit encryption to protect your data from unauthorized access.

Using the Drake Tax software, you can upload files, documents, and returns. The best part is that you can retrieve this data anywhere, anytime, from the software. Thus, you can reduce the time spent on printing, faxing, and e-mailing tax returns and increase efficiency.

Integrating SecureFilePro with Drake Software enables you to upload files, documents, and returns into the software and retrieve this data at any time. This reduces the time spent printing, faxing, and e-mailing tax returns and increases efficiency. 

3. GruntWorx

Manual data entry can be tedious and error-prone. That’s where GruntWorx comes in. It automates the data entry process and organizes documents easily.   

GruntWorx is a secure web application that automates manual data entry and document management. It extracts data from documents, identifies the labels, and organizes the data automatically. The app also flags or marks any trade that indicates any missing information.  

GruntWorx uses OCR-based scanning to extract data from documents and improve accuracy. It is integrated with Drake Software to reduce the tedious data entry task.   

The data extracted by GruntWorx is imported into Drake Software for tax preparation. It also extracts the required information from various tax forms like Form W-2, Schedule K-1, and Form 1099-B for the seamless filing of returns. 

4. E-Pay by EPS Financial

E-pay is a payment gateway offered by EPS Financials. It allows you to accept electronic payments from clients through Debit or credit cards.  

Once integrated with Drake Software, E-Pay lets you accept payments directly through the software interface. Whether or not you have a credit card reader, you can quickly process payments using E-Pay, saving time and improving workflow efficiency. 

5. TicTie Calculate

TicTie makes reviewing tax returns and client documents smoother. This add-on allows you to annotate digital work papers like PDFs, making the review process much more efficient.   

With TicTie Calculate, you can add bookmarks, checkmarks, and hyperlinks across PDF pages. It even offers digital calculator tapes to insert into any PDF, helping you make accounting-friendly annotations that simplify the review process.  

Integrating TicTie Calculate with Drake Tax Software simplifies the process of reviewing tax returns and client documents. It helps to make PDF files accounting-friendly by allowing you to add and modify notes to the data. Digital calculator tapes can easily be hyperlinked to any referring data.

6. SmartVault

SmartVault is a client portal for easy, secure document storage and file sharing. It helps to centralize documents on a single platform, which makes finding any file or document more convenient.  

SmartVault integrates directly with Drake Software, providing built-in document management. You can print, share, and route tax files automatically to the correct folder in SmartVault while enjoying built-in templates that speed up the tax filing process.  

It provides unique login credentials to your clients for secure data access. SmartVault also streamlines the workflow by automating data collection, management, and sharing of the required files.

7. Drake Accounting

Drake Accounting is your add-on if you’re looking to handle bookkeeping alongside tax preparation. This bookkeeping application uses double-entry accounting to maintain accurate client records.  

Drake Accounting allows you to track invoices, payrolls, shipments, and more, all from one platform. Integration with Drake Software means you can easily export bookkeeping data into your tax software, making financial management more efficient.  

Drake Accounting integration with Drake Tax Software lets you export the bookkeeping data into the tax software. It also allows the customization of federal, state, and local withholdings. You can track past tax liabilities and monitor other payments through Drake Accounting.

8. Drake Documents

In a digital age, there’s no reason to stick with paper. Drake Documents helps you go paperless by providing a digital solution for storing client documents and tax returns.  

With Drake Documents, you can store data in organized digital cabinets, making searching and retrieving files easy. This add-on saves you time and physical space if you’re storing PDFs, scanned IDs, or tax forms.  

Data in Drake Documents are stored in cabinets. There are of two different types:  

• Working Cabinet
• Archive Cabinet

Both of these cabinets differ in how they store documents. The Working Cabinet is the default option selected for use in Drake Documents. It saves documents only from the software’s year. For example, Drake16 will store data from the tax year 2016.  

Archive Cabinet stores documents and files from multiple tax years. Data from the Working Cabinet can be copied to the Archive Cabinet.  

Integrating Drake Documents with Drake Tax helps store PDF copies of tax returns, scanned IDs, tax forms, and more electronically. It also helps with easy import and export of documents, saving time. 

9. eFileCabinet

eFileCabinet is another great option for document management. It offers automated workflow solutions that make document management a breeze. It uses Zonal OCR to read and organize documents, reducing the need for manual processes.  

With eFileCabinet, you can create rules for tasks like organizing data, sending information to colleagues, and gathering client signatures. This integration with Drake Software ensures secure sharing and efficient organization of tax returns.  

eFileCabinet integrates with Drake Software to secure the sharing and creation of tax returns. It helps collect clients’ correct files and information and keep data organized, especially during a busy tax season. Furthermore, it saves time and effort by providing all the documents in a single searchable place.

10. Integrated File and Pay (IFP)

Paying taxes is never fun, but Integrated File and Pay (IFP) makes it easier for your clients. This add-on provides a secure way to pay federal balances using a credit or debit card.  

Integrated File and Pay (IFP) is a secure way to pay the federal balance due using a credit/debit card (MasterCard, Visa, Discover, AmEx). Taxpayers can make payment for the due amount on their 1040 individual return or 4868 Extension when the return is e-filed.  

By integrating with Drake Software, IFP allows taxpayers to make payments directly from within the software. Payments can be scheduled before e-filing, and the card is not charged in the case of a declined filing.

How Can Drake Hosting Solutions Further Boost the Efficiency of Your Tax Firm?

Drake Hosting Solutions can significantly boost your tax firm’s efficiency by providing secure, cloud-based access to Drake Software from any device.   

With automatic updates, reliable backups, and enhanced security, your team can focus on tax preparation without worrying about IT issues.   

Our hosting ensures seamless collaboration, faster processing, and reduced downtime, allowing you to serve clients more effectively and grow your business. Experience a more innovative way to manage your tax software.

Wrapping Up

Drake’s integration with the above-mentioned add-ons will undoubtedly improve its functionality and help you better serve your clients during the coming tax season. However, you should choose the add-ons according to the tax requirements.  

You can also opt for Drake software cloud hosting to integrate your favorite Drake add-ons with the software without any hardware restrictions and eliminate performance bottlenecks.

To know more about Drake software, get in touch with a Solutions Consultant at +1-855-223-4887.

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