Account Ability Tax Form Preparation 21.00

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Account Ability Tax Form Preparation is a handy and reliable application designed to manage and organize your clients, transactions and taxes.

Account Ability prepares information returns (1098, 1099, 3921, 3922, 5498, W2G) and annual wage reports (W2, W2C) electronically, on laser, inkjet and generic dot matrix printers.

This comprehensive and efficient application is able to support an unlimited amount of filers.

Returns can be keyed in or imported from Excel, IRS Pub. 1220 compliant transmittals, SSA EFW2 (formerly MMREF-1) compliant transmittals and delimited text files.

The Import Mapping Utility, which is included at NO EXTRA CHARGE, facilitates the job of importing comma, tab, and pipe delimited text files.

IRS and SSA copies can be printed or electronically filed via IRS FIRE and SSA Business Services Online.

Recipient copies can be printed on preprinted forms, plain paper, PDF and pressure seal forms.

The Account Ability Forms Division carries a complete line of tax forms and companion envelopes. Here are some key features of "Account Ability Tax Form Preparation":

Supported Forms:
· Account Ability supports the entire family of Infomation Returns (1098, 1098-C, 1098-E, 1098-T, 1099-A, 1099-B, 1099-C, 1099-CAP, 1099-DIV, 1099-G, 1099-H, 1099-INT, 1099-LTC, 1099-MISC, 1099-OID, 1099-PATR, 1099-Q, 1099-R, 1099-S, 1099-SA, 5498, 5498-ESA, 5498-SA, W2G), Annual Wage Reports (W2, W2C), and Summary Transmittals (1096, W3, W3C).

Unlimited Client (Filer) Support:
· Depending upon the type of returns to be filed, a filer can be a Payer (1099-MISC, 1099-DIV, 1099-INT, 1099-OID, 1099-PATR, 1099-B, 1099-G, 1099-Q, 1099-R, 1099-LTC, W2G), a Lender (1099-A, 1098, 1098-E), a Creditor (1099-C), a Filer (1099-S, 1098-T), a Trustee (5498, 5498-SA, 5498-ESA, 1099-SA), a Donee (1098-C), a Corporation (1099-CAP), a Provider (1099-H), or, an Employer (W2, W2C). To avoid this ambiguity, Account Ability regards all filers as Clients. There is NO LIMIT on the number of clients (filers) one can enter.

Unlimited Recipient/Employee Support:
· Account Ability regards those who receive the returns prepared by a filer as Recipients (e.g. contractors, debtors, employees, borrowers, transferors, students, winners, beneficiaries, participants, donors, etc.). There is NO LIMIT on the number of recipient returns one can enter.

Electronic Filing via IRS FIRE and SSA Business Services Online:
· Account Ability includes electronic filing of Information Returns (1099, 1098, 5498, W2G) and Annual Wage Reports (W2, W2C) at no extra charge. Information Returns are easily uploaded to the IRS FIRE System; Annual Wage Reports to the SSA Business Services Online (SSA BSO). Transmitters of Information Returns are required to have a Transmitter Control Code (TCC) from IRS. If you don't already have a TCC, Account Ability can assist you in applying for one by preparing Form 4419, Application for Filing Information Returns Electronically. Submitters of Annual Wage Reports are required to have a User Identification Number (UID) from Social Security Administration. If you don't already have a UID, you can register for one online at SSA Business Services Online.

Combined Federal/State Reporting of Information Returns:
· The Combined Federal/State Filing (CF/SF) program was established to facilitate the filing of Information Returns for the taxpayer. IRS/ECC-MTB will forward this information to participating states free of charge for approved filers. Separate reporting to those states is not required. The following Information Returns may be filed under the CF/SF program: 1099-DIV, 1099-G, 1099-INT, 1099-MISC, 1099-OID, 1099-PATR, 1099-R, and 5498. Account Ability includes Combined Federal/State Filing at no extra charge. For more information on CF/SF, as well as a list of participating states, refer to the section on Combined Federal/State Filing in Part A of IRS Publication 1220.

Electronic State Wage (W2) Reporting:
· Most states will accept wage reports compliant with SSA EFW2 (formerly MMREF-1) specifications. Account Ability includes an interface for these states at no extra charge. To find out if your state accepts SSA EFW2 wage reports, contact your states Dept. of Revenue (see the Resources selection on the menu).

Print on Laser and Inkjet Printers:
· Account Ability draws your returns on ordinary blank paper or fills in preprinted government approved laser forms. Employee W2 and Recipient 1099-R forms can be printed 4 returns (Copies B,C,2,2) on a single page. The Account Ability Forms Division carries a complete line of preprinted and blank laser tax forms and companion envelopes.

Print on Pressure Seal Forms:
· Account Ability includes the option to print the entire family of Information Returns and Annual Wage Reports on blank pressure seal forms. The Account Ability Forms Division carries a complete line of blank pressure seal laser forms.

PostNet Barcoding and Address Verification:
· If your recipient addresses are coded for Zip+4+Delivery Point, Account Ability automatically prints the USPS PostNet barcode on the address portion of all pressure seal forms. PostNet barcodes also print on blank traditional 2-UP Forms 1099-MISC, 1099-B, 1099-R, 1099-DIV, 1098-C, and W2. The "Tools" menu of each tax form includes an "Address Verification" selection that interactively verifies a recipient's address and mailing industry information with the United States Postal Services website.

Print Copy A W2, W2C, W3, W3C on Blank Paper:
· Social Security Administration will accept black and white laser drawn Copy A returns prepared by Account Ability. These returns are included as Enhanced Metafiles that can be drawn on ordinary copy paper. Sample output can be viewed by clicking on the appropriate form: W2, W3, W2C, W3C.

Print on Generic Dot Matrix Printers:
· If you prefer to use traditional continuous forms, Account Ability supports generic dot matrix printers capable of printing at 10 cpi, 6 lpi. Both 1-Wide and 2-Wide W2 formats are supported. The Dot Matrix Print Options dialog provides an alignment utility that guarantees a perfect alignment with each print session. The Account Ability Forms Division carries a complete line of continuous tax forms and companion envelopes.

Import Recipients from an ASCII Text File:
· Account Ability includes an Import Mapping Utility capable of converting any delimited (comma, tab, pipe) text file you create (say with Excel, Access, DBase, Informix, Oracle, SQL, etc.) into a format compatible with Account Ability. Many accounting applications (e.g. Peachtree Accounting, Intuit QuickBooks, MAS90, Great Plains Software, etc.) are capable of exporting to spreadsheets and delimited text files. The Import Mapping Utility can be used to import these files into Account Ability.

Import IRS (Pub. 1220) and SSA EFW2 (formerly MMREF-1) Transmittals:
· Many of our larger customers already have in-house systems capable of reporting their Information Returns and Annual Wage Reports electronically. What their in-house systems lack, however, is the ability to either process correction returns or generate recipient copies on laser. Account Ability resolves this issue by importing the Pub. 1220 or EFW2 transmittal files created by their in-house system. Once imported, Account Ability can then be used to print, correct, and electronically file corrections.

Multiple Import Session Rollup of Recipient Returns:
· Some applications, such as Intuit's QuickBooks, are deficient in that they cannot export a recipient's entire 1099 or W2 to a single file. They do, however, have the ability to export the information to a variety of text and/or Excel® files. Account Ability overcomes this deficiency by importing and rolling up these files over multiple import sessions. The rollup feature can actually import an entire payroll journal or cash disbursements journal resulting in a single return for each recipient.

Form Filtering of Unwanted Returns:
· The "Tools" menu of each tax form includes a "Filtering" option that can be used to VOID returns based upon the monetary constraints you enter. This feature is extremely useful for filtering out recipients who have not earned at least $600 of reportable income on Form 1099-MISC.

Official IRS Instructions (PDF Format) Included with Each Form:
· While working on a tax form, click your mouse on the IRS instructions icon displayed at the bottom of the main window and Account Ability displays Official IRS Instructions for the active form.

Import Another Filer's Returns:
· This feature enables many users to work on a filer's returns in batches. Each user works on his own batch of returns. When done, all batches are imported into the master filer for processing.

Import Clients (Filers) from an ASCII Text File:
· If you can export your existing client database to a comma or tab delimited ASCII text file, the Import Mapping Utility, which is included for FREE, can be used to create a text file that Account Ability can import.

Export Filer and/or Recipient Information to an ASCII Text File:
· Regardless of which file or form you desire to export, Account Ability includes an Export Options dialog that allows you to select any combination of fields to be exported. The resulting file is a comma separated text file that is compatible with Microsoft Excel® as well as any standard text editor. Exported data is generic so that it can be merged with any mailing label application.

Prepare IDENTIFYING and CORRECTING Transactions:
· If you've ever corrected 1099, 1098, 5498, or W2G returns, then you're aware of the stringent guidelines imposed by IRS. Depending upon the type of correction to be reported, either 1 transaction (CORRECTING transaction) or 2 transactions (IDENTIFYING and CORRECTING transactions) may be required. Account Ability facilitates the correction process by automatically creating the IDENTIFYING transaction and fetching the original return for preparation of the CORRECTING transaction.

Duplicate Taxpayer Identification Number Alert:
· Account Ability permits recipient records with the same taxpayer identification number to be entered without warning. You can, however, instruct Account Ability to alert you of a duplicate before it is recorded.

Tab Stop Designation Utility:
· Many tax forms contain boxes that you'll probably never use. For example, you may only use the Nonemployee Compensation box of Form 1099-MISC. The interactive "Tab Stop Designation" dialog enables you to specify the boxes you would like to use. Simply right-click your mouse on the caption of any box and the Tab Stop Designation dialog is displayed.

Apportion 1098 Mortgage Interest, Amortization, and Real Estate Taxes:
· If you prepare 1098 returns for cooperatives then you are going to love this feature. Each 1098 can track a payer's shares, period of occupancy, and percentage of maintenance paid. The "Apportion..." selection of Form 1098 uses this information to compute each payer's share of the total interest, amortization, and real estate taxes.

Prepare Transmittals 1096, W3, W3C:
· Account Ability automatically totals a filer's returns when preparing summary transmittals. Although IRS requires Transmittal 1096 to be printed on red preprinted forms, Social Security Administration will accept Account Ability's laser drawn Transmittals W3 and W3C.

Prepare Transmittal 4804:
· Although IRS no longer requires electronic filers of Information Returns to file form 4804, Account Ability still includes the ability to print this form.

Roll Forward Any Part of Your Database Each Year:
· Since it is not always desirable to roll forward all returns each year, you decide which returns to roll forward. The "Roll Forward" dialog also allows you to specify whether or not to initialize each return for a new calendar year.

Client Activity Report:
· This is an analysis of returns processed for all filers during the prior and current reporting years.

Control Reports to Verify Your Data:
· All tax forms include a detailed Control Report and Register Listing to help verify your data.

On Screen Totals:
· Total a file in seconds for on screen viewing and printing.

State/Local Wage and Withholding Report:
· This report gives you a detailed analysis of each reporting state. State and Local wages and withholding are clearly itemized for easy data verification.

Compute FICA/Medicare Wages and Withholding:
· Compute FICA/Medicare wages and withholding for one or all employees.

Backup Your Database in Seconds:
· The "Backup and Restore" utility contains a sophisticated compression algorithm capable of compressing 5 megabytes onto a single floppy. Archives can also be saved to any local or network drive.

Security:
· Password protect any or all of your client's Information Returns and Annual Wage Reports. You can also specify an administrative password at the client level.

Various Indexes for Sorting:
· Choose from a variety of indexes by which to sort your returns. Whether it be taxpayer id, recipient name, zip code, account number, etc., Account Ability incrementally locates any return in seconds.
Requirements:

· 16MB RAM
· 32 MB Hard Disk Space
· Printer
Limitations:

· Numerical information you enter does not print
· Electronic reporting has been disabled What's New in This Release: [ read full changelog ]

· File Locking.