No Touch Business Tax preparation
Tax & AccountingFebruary 01, 2021

No Touch Business Tax Preparation


CCH Axcess™ Financial Prep helps firms take an important step toward establishing a no-touch business tax preparation process. The first cloud-based trial balance solution integrated with CCH Axcess solutions, it features integration with Xero™ and QuickBooks® Online to instantly import client trial balances. Additionally, it enables professionals to take data from a client system and automatically get it into a format that can be reviewed, examined and seamlessly sent to the tax return.

Firms using CCH Axcess ™ Financial Prep report that it saves them 30-60 minutes in each business tax return. With the start of tax season pushed to February, firms still have time to investigate and implement this innovative cloud solution.

New enhancements maximize efficiency for no touch business tax preparation

This solution totally automates, creating a literal no touch business tax preparation process for the accountant. Furthermore, this tax season it delivers even greater time savings, thanks to newly added functionality:

  • First, professionals can customize groupings for lead sheets and financial statements. Specifically, users gain the ability to delete default financial groups, add a new financial group, and add/edit/delete financial subgroups.
  • Second, you can multi-assign the financial statement trial balance accounts. Professionals could already do this in CCH Axcess Tax, consequently, this is now consistent for both workflows.
  • Third, you can now export the financial trial balance, as well as the tax summary report. This will be extremely helpful in the upcoming tax season. Professionals can easily mark up, annotate, and use those documents as part of your tax workflow process.
  • Fourth, the solution now includes a new journal entry type for Passed Journal Entries (PAJE). Additionally, professionals can change a journal entry type after you posted it or saved it. Further, enhancements enable professionals to quickly and easily add multiple journal entries with fewer clicks.

We’ll highlight a few of the enhancements here, but for a complete overview, you can watch the 1/7/21 What’s New in CCH Axcess Financial Prep webinar recording .

Generate More Informative Financial Statements

The first set of enhancements provides professionals with greater control over the presentation of financial statements and lead sheets. For example, the financial statement may present multiple accounts together under one line item, but you’d prefer to show them broken out. Simply add subgroups for those accounts in order to expand how you group the accounts. You can easily show the detailed break out. The same is true for lead sheets. Professionals have the additional flexibility to add, edit or delete financial groups, as well as subgroups.


Export features help reviewers save time

When reviewers work with a business tax return, they often want to be able to mark up, annotate, and perhaps store a trial balance or report outside of the application. Now, CCH Axcess Financial Prep makes it easy for reviewers to do just that. In fact, it takes only a double click on a new “export” icon to open the trial balance in an Excel spreadsheet.


Another new export feature lets you export the Tax Summary report. As a reviewer, if you are tying out the information in the trial balance to the tax return, in this Excel file you can quickly see gross receipts and detail. Consequently, you can complete your review more quickly and improve the business tax preparation workflow this season.

Tips for a better tax season

Whether professionals are new to CCH Axcess Financial Prep or have used it several seasons, these tips help add efficiency:

  • Both preparers and reviewers can export tax summary reports. Preparers will be able to tally the trial balance directly to the tax return. Plus, reviewers will benefit from an expanded view of the detail accounts assigned to the tax line.
  • The multi-select accounts feature will speed up the process of grouping.
  • Customize the look and feel of financial statements and lead sheets for their clients. By customizing groups and subgroups, professionals have control over what you see.

Learn how CCH Axcess Financial Prep provides the efficiency and automation needed to accomplish no touch business tax preparation. Get a first-hand look at all of the new enhancements when you watch the 1/7/21 What’s New in CCH Axcess Financial Prep webinar recording.

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