Intuit is looking to take scan-and-populate technology to the next level with the release of ProLine Tax Import, designed to allow tax professionals to import tax data from scanned source documents and digitally download data from financial institutions directly into Intuit Lacerte and Intuit ProSeries.
ProLine Tax Import can read clients' data from scanned source documents and import it into Lacerte and ProSeries. Tax professionals first scan the documents, send the file to Intuit for processing and then import the data into the tax return.
ProLine Tax Import includes data from a variety of documents, including consolidated brokerage statements, W-2s, 1099s, and Schedule K-1s.
ProLine Tax Import technology can also download tax data directly from financial institutions into Lacerte and ProSeries.
Once the client approves the transfer of data to the tax preparer, the technology downloads data directly from financial institutions through a secure website to Intuit professional tax applications.
There are currently 10 financial institutions supported by the product, and more are planned in the near future, according to Intuit spokesman Rich Walker. He claims that the 10 firms represent approximately 70 percent of the money management market and include the likes of Bank of America, Charles Schwab, E*Trade, Morgan Stanley and more.
One of the great things about Tax Import is the amount of time that will truly be saved in doing a return said Intuit marketing manager Luis Sanchez. In beta testing an accountant was able to turn six hours of tax preparer work into 10 minutes.
ProLine Tax Import is scheduled to be available free for a limited time to Intuit Lacerte Tax customers starting Sept. 1 and later in the year for ProSeries customers.
For more information, visit www.taximport.com.
Register or login for access to this item and much more
All Accounting Today content is archived after seven days.
Community members receive:
- All recent and archived articles
- Conference offers and updates
- A full menu of enewsletter options
- Web seminars, white papers, ebooks
Already have an account? Log In
Don't have an account? Register for Free Unlimited Access