02_Installation Setup.fm - Drake Software Support

Drake Software User’s Manual
Making Changes on the Fly
Penalty &
Interest
Calculations
The following global setup options are for penalty and interest calculations on latefiled
returns. These are set from Setup > Options, Optional Items on Return tab,
and can be changed from within a return from the LATE screen on the Taxes tab:
Table 2-19: Penalty & Interest Options That Can Be Changed on the Fly
Global Setting Available Overrides
Calculation of penalty
and interest on all returns
Interest rates
If the global option is selected, it can be suppressed for a single
return. If the global option is not selected, it can be forced for a
single return.
Penalty and interest amounts can be entered manually for a single
return to override program calculations based on updated or
manually entered interest rates in Setup > Options.
For more on the setting up the global option in Options Setup and on using the LATE
screen, see “Features for Late-Filed Returns” on page 181.
Listing a Different Firm, Preparer, or ERO on a Return
By default, the program prints the information shown in Table 2-20 on the return.
Table 2-20: Firm, Preparer, and ERO Data That Can Be Changed on the Fly
Information
Firm
Preparer
ERO
Description
Firm associated with Preparer #1 in Setup > Preparer(s)
Preparer #1 (as entered in Setup > Preparer(s))
ERO selected in Setup > Options, EF tab (default is “Paid Preparer”)
To override any of these defaults for a return, go to screen 1 of the return and select a
firm, preparer number or name, or ERO under Return Options (Figure 2-21).
Figure 2-21: Setup override fields on screen 1
Be aware of the following information when determining what information is to
appear on the return:
• Because both the firm and ERO information is determined by the return’s preparer,
a selection in the Preparer # drop list will cause both the firm and ERO
information to be overridden with the corresponding information associated with
the selected preparer.
Tax Year 2012 55