ProSystem fx Tips

BY J. CARLTON COLLINS

With tax season just around the corner, here are a few tips for using CCH’s ProSystem fx Tax (Foundation). ProSystem fx was the most-used software among the 10,026 respondents in the 2011 tax software survey conducted by the JofA and The Tax Adviser (see tinyurl.com/42o9h5s).

 

1. Tax cross-referencing. Pressing F1 in ProSystem fx launches the Tax Cross Reference screen, where the search terms you type are cross-referenced to the corresponding government tax forms, including the tax form’s line numbers and box numbers.

 

2. IRS instructions. Pressing F3 launches the IRS instruction booklet for the tax return you are preparing (an Internet connection is required).

 

3. Show me. From the ProSystem fx Help menu, selecting Step-by-Step, Show Me launches instructional videos that walk you through the process of completing many of the government tax forms in ProSystem fx.

 

4. Reviewer tic marks. ProSystem fx provides three tic marks per line item, enabling up to three reviewers to place a different color tic mark next to each number as a handy way to keep track of what has and has not been reviewed. To use this tool, select an amount and click the Insert/Delete Tic Mark icon at the top of the screen.

 

5. Drill down. In government-form view, double-clicking any data box drills down to the supporting schedules. Use the back button in the icon bar to return to the original page.

 

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