User's Manual - Drake Software

Software Setup
Drake Software User’s Manual
Firm Setup
Firm setup must be completed before preparing and e-filing returns. If data is inaccurate
or missing, tax returns might be e-filed with incorrect information.
NOTE
To ensure that all information needed for e-filing is entered for a firm,
firms with incomplete information are highlighted in red in the Setup >
Firm(s) grid. Fields required for e-filing are marked by red text.
With the click of a button, you can now import the information from your
firm’s bank application into the Drake program. (See “Banking Information,”
below.)
Adding a
Firm
To add a firm in Firm Setup:
1. From the Drake Home window, go to Setup > Firm(s).
2. Click Add to activate the bottom half of the Firm Setup window.
3. Enter your firm’s general and banking information. Fields needed for e-filing are
indicated by red text.
• General Information — Enter contact and identification information, including
firm name, address, phone and fax numbers, contact name, e-mail address,
Employer Identification Number (EIN), and Electronic Filer’s Identification
Number (EFIN). If the firm is not located in the U.S., enter the province or
state, the country, and the postal code.
– A DCN serial number is assigned to each return based on the firm’s
EFIN and DCN. If two returns have the same DCN, the IRS rejects one of
the returns. To avoid duplications, DCNs are automatically advanced for
each return calculated.
NOTE
Offices that use multiple computers that are not networked must “stagger”
DCNs to avoid duplication. DCNs should be staggered before creating
any 2012 returns. For instructions on staggering DCNs, see
“Staggering DCNs” on page 234.
– Non-paid-prep — If the firm is not a paid preparer, enter a non-paid code
here. Acceptable codes are VI (VITA), VT (VITA–T), TE (TCE–X), IP
(IRS–PREPARED), AND IR (IRS–REVIEWED).
• Banking Information — Choose a bank and include add-on fees.
– If you’ve completed your online Drake bank application through the
Enterprise Office Manager (EOM), click Retrieve to import your banking
information directly from the bank application. (For information on the
EOM, see “Banking Application” on page 216.)
– Select a bank and enter the applicable add-on fee and the name of the person
or entity that will receive the add-on fee. (This name will appear on
the client’s “Bank Information Sheet,” generated with the return.) For
more on available options, see Table 7-4 on page 218. For more on individual
bank selections, see Chapter 7, “Banking.”
20 Tax Year 2012