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Integrating with CCH to Save Accountants Time This Tax Season

Posted 3 months ago in Advisors by Herman Man
Posted by Herman Man

With tax season around the corner, we’re excited to announce the launch of a new integration between Xero and CCH Axcess™ Financial Prep.

The new API integration eliminates the need for tax and accounting professionals to manually export, import or enter data. By automating the flow of data, we’re working to save accountants time on administrative tasks so that they can focus on providing insights and advice to their clients.

Xero already makes tax prep more efficient and accurate with key features, including:

  • Cash Coding: Xero makes it easy to rapidly code a large number of transactions. Accountants can quickly process a whole year’s worth of bank statements in a single operation. Cash coding is especially valuable for accountants working with clients they only interact with once a year at tax time, as well as new clients.
  • Find and Recode: this feature allows accountants to update thousands of line items at once. This means accountants can quickly find and then fix incorrectly coded transactions. What once took hours, now can take seconds.
  • Bank Reconciliation: Xero automatically imports client bank transactions every business day, and makes reconciliation easy with coding suggestions. It’s also easy to set up rules for matching bank transactions automatically to invoices, bill payments and purchases that are already recorded in Xero. That means being able to keep client books up-to-date with greater accuracy come tax season.
  • Customizable Reports: Xero makes it easy for accountants to create custom reports by seamlessly changing account groupings, inserting formulas and adding custom columns and rows. This gives accountants complete control and flexibility when working with client data at tax time.
  • Xero HQ: a hub for providing superior client services, Xero HQ gives accountants real-time visibility and insights across all of their clients. It also makes it easy to communicate with clients. For example, the “Ask” feature simplifies the information gathering process by allowing accountants to seamlessly communicate and gather documents from clients.

The new integration enables accountants to complete their tax workflow. CCH Axcess Financial Prep is an end-to-end trial balance solution that eliminates the manual process of grouping accounts and creating tax reports. Key features include:

  • Intelligent Account Grouping:  CCH Axcess Financial Prep eliminates tedious steps to group trial balance accounts and assign tax codes. This feature allows professionals to reduce the overall time it takes to prepare balances for business tax returns.
  • CCH Axcess Tax Integration: With a seamless workflow on the CCH Axcess platform, professionals are enabled to efficiently complete their business tax returns. CCH Axcess Financial Prep reduces manual steps required to update the business tax return with the correct amounts.
  • Team Collaboration: CCH Axcess Financial Prep can be accessed anytime and anywhere with real time updates, increasing team collaboration and empowering teams to work more efficiently and better serve their clients.

This partnership is all about bringing the power of two market leading solutions together to improve workflows for accountants.

On behalf of the team at Xero, we hope that this will be your best tax season yet.

One comment

TeamPlus India
January 7, 2019 at 11.17 pm

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TeamPlus India

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