ProSystem fx Tax increases cost efficiency

n PROSYSTEM fx ® TAX CORPORATE EDITION Comprehensive tax and trial balance solutions for corporations Tax Engagement Profit Driver Fixed Assets Trial ...
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n PROSYSTEM fx ® TAX CORPORATE EDITION Comprehensive tax and trial balance solutions for corporations

Tax Engagement Profit Driver Fixed Assets Trial Balance n

ProSystem fx® Tax increases cost efficiency and meets all your corporate tax compliance needs.

Brought to you by CCH, a Wolters Kluwer business, the industry leading provider of sophisticated tax software to professionals for more than 40 years, ProSystem fx Tax offers a powerful portfolio of products that delivers comprehensive federal and state tax capabilities for corporations. The Corporate Tax Package includes the following: n 1120 Corporation n Consolidated Corporation n 1120S Corporation n1065 Partnership n GL Direct

Optional capabilities include: n 1040 Individual n 990 Exempt Organization

ProSystem fx Tax streamlines federal, state and city tax compliance beginning with importing from your general ledger package, through calculation, review, print and e-filing of returns. CCH also offers sophisticated add-on solutions including: n ProSystem fx® Engagement, an integrated, full-featured trial

balance system, and a paperless workpaper management system built around Microsoft Excel and Word.

n ProSystem fx® Fixed Assets, an award-winning asset

management system that is tightly integrated with ProSystem fx Tax and ProSystem fx Engagement.

n ProSystem fx® Profit Driver, an invaluable strategic planning

solution, easily extracts trial balance data from ProSystem fx Tax for Corporation, S-Corporation, Partnership, and Exempt Organization returns.

n 1041 Fiduciary n 706 Estate and 709 Gift n 5500 Deferred Compensation








n Produces a wide array of returns, including 1120,

n Provides both single and multi-tiered consolidations.

1120S, Consolidated Corporations, Consolidated S Corporations 1120-F, 1120-FSC, 1120-H, 1120-L, 1120-POL, 1120-PC, 1120-REIT, 1120-RIC and 1120-IC-DISC.

n Speeds preparation time with an intuitive worksheet


n Allows new modernized e-file for all Federal returns,

including consolidated returns.

n Provides comprehensive coverage of Form 5471

(Information Return of U.S. Persons with Respect to Certain Foreign Corporations) and Form 5472 (Information Return of a 25% Foreign-Owned U.S. Corporation or a Foreign Corporation Engaged in a U.S. Trade or Business).

n Calculates limitations and carryforwards for NOL,

AMT NOL, capital losses, Section 1231 losses, Section179, passive activity losses, contributions, credits, ACE adjustments for Alternative Minimum Tax, and depletion for mineral interests including oil and gas.

n Handles all other types of calculations, book-to-tax

adjustments, and detailed reports for planning and audit trail purposes, using powerful depreciation and amortization features.

n Identifies tax preference and adjustment items for

Alternative Minimum Tax.

n Offers flexible accrual options for reporting federal and

state/city tax liability to Schedule M-1, Balance Sheet, and P & L Statements.

n Performs automatic Schedule M-1 book-to-tax


n Provides Schedule M-3 Calculations. n Imports general ledger data via the GL Direct

productivity tool.

n Offers a full range of tax capabilities including estimates,

extensions, and amended returns.





n Provides both columnar and stacked consolidated print. n Provides SRLY limitations for NOL, AMT NOL,

capital loss carryovers, and general business credits.

n Automatically carries forward separate company

amounts for officers’ compensation, all credits and recaptures to the consolidated company.

n Recalculates depreciation for mid-quarter and half-year

convention rules, prior short year, and Section 179 limitations.

n Allows access to all returns in a consolidated group

through an inter-return navigation feature.

1120S AND 1065 APPLICATIONS Additional ProSystem fx Tax business return capabilities allow you to: n Allocate any or all distributive share items using time

segmented, effective ratio, single/multiple tier, or residual allocation

n Prepare a single return for an S Corporation parent with

qualified sub-chapter S subsidiaries (QSSS).

n Easily convert an S Corporation return to a Corporation

return from one year to the next.

n Integrate with Microsoft Excel using a dynamic K-1

import/export spreadsheet link.

n Electronically file all Federal returns. n Perform extensive calculations for foreign partners and

foreign partnerships.

n Automatically transfer partner interest using percentages

or amounts.

n Use amounts, percentages or units to allocate income,

deductions, and other Schedule K-1 items.



The ProSystem fx Tax Corporation and Consolidated Corporation modules allow you to produce all estimates, extensions, and amended state returns, and offer the following state capabilities:

Take the next step toward increased productivity and improved collaboration between staff members, and benefit from the conveniences of ASP technology with Global fx, which provides Internet access to the powerful ProSystem fx Tax system.

n Comprehensive multiple state processing for any

combination of state returns.

n Two easy-to-use methods for entering and reviewing

multistate allocation and apportionment data.

n Integration with Microsoft Excel, allowing you to

import and export apportionment spreadsheets, as well as other data including interest and dividends details and capital transactions, saving you time and increasing your accuracy.

n Inclusion of all applicable Federal attachments when


n Generation of annual reports and intangible, tangible,

franchise, and banking/financial institution returns for selected states.

n Combined or consolidated returns for most states.

Whether working from the office, a satellite office, home, or a hotel, Global fx conveniently expands your reach to ProSystem fx Tax and allows you to work where you want, when you want. With Global fx, the tax software and return data reside on secure CCH servers and can be accessed anytime, anywhere. The time and resources formerly required to install, update, and maintain software on your local system can now be spent meeting your compliance deadlines. You have 24/7 access to the most current programs with no time-consuming desktop installations. And CCH protects your data, with redundant back-ups and secure storage, both on-site and off-site. You don’t have to worry about catastrophic loss of data; we always have it. GL DIRECT GL Direct, a time saving productivity tool, is included with ProSystem fx Tax. GL Direct helps you: n Easily convert trial balance information from your

accounting software or spreadsheet programs into 1120 or consolidated 1120 returns.

n Save time by handling adjusting and tax journal entries,

producing required workpapers, and automatically totaling and classifying information.

Single Company Returns 1120












Consolidated Returns 1120







POWERFUL ADD-ON INTEGRATION WITH THE PROSYSTEM fx OFFICE SUITE STREAMLINES YOUR WORKFLOWS AND BRINGS YOU EVEN MORE SPEED AND PRODUCTIVITY PROSYSTEM fx ENGAGEMENT Make the move towards a paperless environment with powerful workflow tools that enable you to store, scan, automate, and securely manage documents within electronic binders. With ProSystem fx Engagement you can: n Store all tax workpapers, returns, and fixed assets reports

securely in convenient electronic binders.

n Quickly access electronic binders from a Central File

Room utilizing an intuitive Windows® Explorer interface.

n Share information simultaneously and synchronize work

from any location.

n Ensure each file’s integrity using the Current Editor

feature, which lets you control who has “write” or “view only” access.

n Incorporate existing Word and Excel documents. n Automate workpapers and reports with links to

n Link client, asset, depreciation details – as well as

disposed asset information for reporting tax gains and losses detail – directly with ProSystem fx Tax.

n Create up to eight different books – including Financial,

Federal Tax, AMT, ACE, State Tax, and three userdefined books – viewable side-by-side on one screen.

n Calculate, maintain, and project all types of depreciation

simultaneously for the depreciable life of an asset.

n Enjoy a variety of customization options for entering

asset information, viewing data, and producing reports.

n Benefit from context-sensitive help complemented by an

intuitive user interface.

n Produce various standard financial and tax reports,

including Multiple Period Projections, FASB 109 Projections, Journal Entry Reports, and ACE Worksheets.

n Roll forward workpapers and reports instantly,

PROSYSTEM fx PROFIT DRIVER ProSystem fx® Profit Driver takes financial analysis to a new level. You no longer have to settle for a program that only creates reports!

n Easily send trial balance data to ProSystem fx Tax.

n Dynamic budget vs. actual reporting allows you to make

company and trial balance data.

automatically populating dates, account balances, and variances.

n With Engagement’s trial balance feature, you can import

data from virtually any general ledger package though our flexible Import Wizard.

n Generate monthly management reports. n Automatically update all workpapers, leadsheets, and

financial statements when you post a journal entry.

PROSYSTEM fx FIXED ASSETS Save time and ensure a smooth set-up of all tax return information with our comprehensive asset tracking, management, and reporting solution. ProSystem fx Fixed Assets enables you to: n Automatically convert data from more than a dozen

Windows and DOS-based asset management programs.

n Import data from Microsoft® Excel spreadsheets and

other common file types.

projections as you budget.

n Truly understand financial performance when you

produce up to 40 consecutive periods.

n Compare business performance against industry

standards with new benchmarking data functionality.

n Understand financial data with the most comprehensive

analysis tools available.

n Develop future business goals using the flexible

Projection, What If, Goalseeking and Benchmarking tools.

n The only program that allows you to use up to 40

periods to analyze financial statements and create powerful graphics and highlight key trends.

n Create, save and manage unique client Chart of

Accounts to fit your specific needs.

CCH RESEARCH PRODUCTS CCH is dedicated to helping corporations like yours become more profitable by providing quality solutions designed to save you time – and integration is key to this mission. To support that goal, we have successfully delivered integrated solutions that bring research and software tools together to make you more productive: n CCH Tax Research Network – Directly access CCH

Tax Research Network from ProSystem fx Tax. Use sophisticated Web technology to access the most current and intuitive tax research libraries on the market. Our CCH expert editors tie together superior explanations, comprehensive primary source materials, practical guidance, and the most complete archives to bring you outstanding tax coverage. Tax Research Network covers Federal, state, and international taxation, pension and payroll taxes, sales and use taxes, special entities and much more.

n CCH Tax Tracker News covers over 80 tax topics and

delivers customized news right to your desktop, mobile phone or email.

n Smart Technology, such as our new SmartRelate, pulls

out key topics related to what you are searching, to ensure you cover all your research needs.

n Over 200 in-house tax experts provide complete, in-

depth editorial coverage. Plus, more than 750 outside practitioners and academics expand our high level of practical analysis and solid explanation of the law.

n Libraries on CCH Tax Research Network – CCH

offers a wide variety of premier libraries designed for tax professionals and organizations that need the most comprehensive tax information available. Each includes a specialized collection of relevant federal, state and local primary source material, as well as CCH’s superior Explanations, analysis and practice tools. Libraries include: n

Corporate OmniTax Library


Multinational Corporate OmniTax Library.


State Business Income Tax Library


Tax Research Consultant


Sales Tax Research and Compliance Manager


International Tax Treaty Expert Library

n Accounting Research Manager (ARM) – The most

current and complete resource, ARM provides access to objective and analytical accounting, auditing and SEC information, plus expert interpretive guidance to help you understand and comply with rapidly changing standards. While other research tools simply summarize the authoritative literature, ARM goes the extra mile to give you the clearest possible picture. n

Updated five times daily, ARM is the most timely, complete, interpretive and objective resource for your financial reporting needs.


Weekly summaries keep subscribers current with email newsletters highlighting key developments. These provide links to all FASB, AICAP, SEC, EITF, IASB and PCAOB authoritative and proposed stage literature, plus insightful guidance from financial reporting experts.


Keep up with the latest changes to GAAP, GAAS and SEC rules with access to expert guidance on business combinations, revenue recognition, Sarbanes-Oxley, derivatives and hedging, goodwill, leases, and much more.

n Award-winning CCH@Hand functionality brings

tax research where you need it, integrating research into your desktop, browser and even Microsoft Office applications such as Word and Excel.




SYSTEM SPECIFICATIONS n Minimum System Requirements n

450 MHz CPU


4 Mb Video RAM


64 Mb RAM


Standard CD-ROM optical drive


Windows 2000 (Prefer with SP4 and latest MDAC and DirectX installed), or Windows XP


800 x 600 monitor setting


MS Office 2000 or XP


30 Mb Free Hard Disk required for the software install

n Recommended System Requirements n

1+ GHz CPU


256+ Mb RAM


16+ Mb Video RAM


Screen resolution of 1024 x 768


24+ bit color depth

21250 Hawthorne Blvd. Torrance, CA 90503 1-800-PFX-9998 © 2006, CCH. All Rights Reserved. 6819 3/06


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