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Tax & AccountingFebruary 27, 2023

Connecting tax data through integration

A key component of an efficient digital tax workflow is connecting tax data throughout various software systems. Moving data automatically is faster and more accurate than re-keying or copying and pasting from one field to another.

In CCH Axcess Tax, this data automation can be accomplished in several ways, depending on the type of data and the data source.

Worksheet grids import data from spreadsheets

Accountants are typically very comfortable working in spreadsheet software like Microsoft Excel. In fact, many firms perform most of their work in Excel, moving the data to the compliance software when they are ready to complete the return.

CCH Axcess Tax utilizes worksheet input grids in many worksheets, with a data import/export option to enable integration with external worksheets.

The Import Worksheet Grid Data button prompts CCH Axcess Tax users to select a spreadsheet to import and then guides the users through the process of mapping the source data to the grid column in CCH Axcess Tax. The Export Worksheet Grid Data button can create a blank sample of the grid to use as a template. It can also export a populated spreadsheet so the accountant can continue working with the numbers in Excel or transfer the data to another system via Excel.

Either way, accountants can work in the environment they are most comfortable in, and they can more easily exchange data with clients.

Import/Export utilities provide additional functionality

CCH Axcess Tax offers several import/export utilities that enable accountants to connect data from outside the tax software. When data is imported from a recognized program or template, users don’t have to map individual columns.

  • Apportionment data. Apportionment data from a spreadsheet can be imported into Corporation, S Corporation and Partnership returns. Apportionment data includes property, payroll, sales, non-business income, transportation and insurance.
  • Accounting data. The G/L Bridge imports data from certain accounting programs into tax returns. It includes pre-defined imports from CCH Axcess Engagement Essentials (formerly known as CCH Axcess Financial Prep), CCH Axcess Engagement, CCH ProSystem fx Engagement, CCH ProSystem fx Trial Balance, CaseWare, Client Accounting Suite Premier and Creative Solutions Accounting, plus a generic import for other accounting systems.
  • Estate planning data. Client DataXchange imports information into Estate tax returns from a file created by estate tax planning systems, such as CCH ViewPlan and EstateWorks.
  • Depletion data. Firms can use imports to add depletion data for new entities and to update existing entities.
  • Fixed assets data. Firms can import fixed assets information from CCH ProSystem fx Fixed Assets.
  • Planning data. Firms can export tax data into BNA or CCH ProSystem fx Planning for additional tax planning opportunities.

Importing data from other returns saves time

When firms handle multiple returns for the same or related clients, they can save time by importing data from one return to another. The 1040 Pass-through Activity “Vertical Grid” utility enables firms with a 1040 Pass-through Import license to export pass-through data from a Fiduciary, Partnership and/or S Corporation return into a rolled forward 1040 Individual return.

The K-1 Import utility enables firms to export K-1 data from one return to another. Once a source and target location have been defined, the system will prompt users when the source return is updated, so that they can re-import the new data.

Trial balance data connections enable simpler business return compliance

CCH ProSystem fx Engagement offers a Dynalink feature to create a dynamic link between the trial balance and the return. This means that when data in the trial balance is changed, that data will flow into the tax return.

In CCH Axcess Tax, users can link to CCH ProSystem fx Engagement using GL Bridge, and then use the Quiklink button to easily jump between the tax return and the accounting entries. Changes made in the accounting system are immediately reflected in the tax return so users can examine the effect of an accounting entry on the tax return. (Changes made to the tax return are not transferred to the accounting system.)

Custom API integrations

TaxTransfer is a tool firms can use to import data using XML. To use TaxTransfer, the firm must create a custom program that works with the Open Integration Kit. If the firm doesn't have IT resources to build a custom integration, the Wolters Kluwer Professional & Client Services team can often help create the integration and automation needed. Consultants are in high demand, but the team can refer firms to a third-party API Consultant if needed.

Using tax data for predictive intelligence

CCH Axcess Tax works with CCH Axcess iQ to identify which clients are affected by a particular tax legislation change. CCH Axcess iQ also provides a list of relevant tax changes for each CCH Axcess Tax client, enabling firms to identify additional revenue opportunities as well as highlighting areas of focus for reviewing returns.

The system also includes a client letter that explains the change, and links to CCH® AnswerConnect provide access to even more information and tools.

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CCH Axcess is built for efficiency and accuracy

The ability to easily move data into and out of a tax return is critical to the efficiency and accuracy of tax compliance. Even simple returns can benefit from connecting tax data between and throughout the system. Register for a demonstration to see CCH Axcess Tax in action, and find out what you can start automating. 

Product Marketing Manager, Firm Management

Aimee Hall is a product marketing manager for Wolters Kluwer Tax and Accounting US, focusing on the professional market. In this role, she is responsible for leading go-to-market strategy for firm management products including workflow, practice management, document management, outsourcing and business intelligence products across the CCH ProSystem fx Suite and the CCH Axcess Platform. She joined Wolters Kluwer in 2006 and lives in the Chicago suburbs.

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