User's Manual - Drake Software

Drake Software User’s Manual
Bank Product Transmission
Application Signing Date
the bank screen. Note that the RTN, Account number, and Type of account must be
entered twice for verification.
Most bank screens include a field to indicate when the bank application was signed.
By default, the current date is used in this field. Enter a different date if necessary;
otherwise, leave this field blank.
Bank Product Transmission
Processing the Check
Testing Check Print
Several transmissions occur when you e-file the tax return with bank information
using Drake:
• Drake transmits the tax return to the IRS and the appropriate bank.
• The IRS sends an acknowledgment (“ack”) to Drake. If the return has been
accepted, Drake transmits the bank information to the bank.
• The bank sends an acknowledgment back to Drake.
The bank also posts a “Fees to ACH” (Automated Clearing House) acknowledgment
when applicable to inform preparers that their fees have been distributed to their direct
deposit account. It is normally posted on the Thursday of the following week, if the
return is sent by noon Thursday.
Your system picks up any new bank acks whenever you initiate a connection (transmit
or receive from EF > Transmit/Receive) with Drake.
The following process is necessary for firms that print checks in-house. (If your firm
does not print the checks, post the bank-acceptance acks to the EF database so your
database will always reflect the most current client status.)
Before printing checks, you might want to run a test-print to ensure that checks will be
printed correctly. One test check for each bank is loaded into Drake; when you testprint
a check, the program uses the test check matching the bank that is set up for
“Firm 1” in Setup > Firm(s).
To print the test check:
1. Ensure that paper for printing has been loaded into the printer. (Drake recommends
using a blank sheet of paper.)
2. From the Home window, select EF > Check Print. If no checks are ready, a message
prompts you to reprint any previous checks. Click Yes.
3. At the bottom of the Reprint Checks dialog box, click Test.
4. Click Print in the Print dialog box.
Tax Year 2012 221