There was a time when the most elegant tax return preparation and tracking system’s components were legal pads, adding machines, and sharp pencils. With fewer requirements and less complicated forms, it was easy for an accounting firm to prepare and track tax returns manually without any issues. However, that time has passed, and we are now in an era of broader tax regulation, larger practices with larger staffs, and the need for up-to-the-second communications.
Today’s tax return processing requires tracking an array of activities from engagement through data collection and entry, task management, collaboration, and document management. Every step is crucial to prepare and file tax returns correctly, and tracking will ensure not only that each one is done correctly, but that it ties properly to all the other steps. Tracking enables management and professional staff to instantly resolve all-too-familiar tax return dramas, such as:
- Where is the return?
- Are we missing a deadline?
- Does the right person have the return for the review?
- Did we complete all the returns that needed to be done?
Many off-the-shelf tax preparation packages will meet these tracking needs to one degree or another, however every organization has at least slightly different needs for tax preparation and IT intervention is often necessary to optimize these off-the-shelf solutions.
If this is happening in your practice, don’t despair. There is a solution for your firm – Amelio.
Amelio is able to relieve the common pain points of tax return tracking by:
- Eliminating bottlenecks: With Amelio, multiple people can work on one engagement, helping to ensure that no forms or tasks get stuck with one person.
- Reducing paperwork: Amelio automatically populates redundant data in interrelated forms, so you don’t have to waste much needed time on data entry.
- Preventing missed deadlines: With Amelio, you can track forms and tasks to ensure that everything is where it needs to be when it needs to be there.
- Reducing non-compliance risk from missed or incorrect data: Amelio brings additional relevant forms or questions into an existing file if the data you’re inputting requires them. It also automates forms and checklists, so you’ll be able to see everything you need.
In a nutshell, Amelio provides you with more control, more flexibility, and more features to ensure that the tax returns you’re working on are completed and filed correctly and efficiently. The workflows you build in Amelio are dynamic, adaptive, and smart. But most importantly, they’re exactly what your firm needs, when you need them, and presented in a way that optimizes your business. For more information about Amelio, please Contact Us.