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Published on October 13th, 2017 | by Guest

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Here is a High Tech Way to File Taxes Today!

We all have to pay taxes in our lives. Examples of these are income and company tax. You can file your own taxes or rely on the services of professional accountants. While doing so on your own is acceptable, consulting a professional accountant reduces the chances of error. There are companies which have professional accountants who can help you to file taxes. They use topnotch software to accomplish this. An example of such a software is Lodge It. Read on to learn about it.

What is Lodge It?

This is a software platform which provides comprehensive tax compliance features. It has many functions too. By using Lodge It, accountants can prepare tax forms accurately and quickly. They can also lodge them easier using this software. The Lodge It software tool is designed for accountants who file taxes for clients. It is also designed for business owners who need to file tax returns for their enterprises.

LodgeiT’s tax software for accountants is integrated with many different accounting systems. Examples of these are Xero and Quickbooks Online. Due to this connection, the software eliminates the need to keep rekeying data. This connection is activated by clicking on an “Import” function in the software. There are other ways in which Lodge It makes life easier for a professional accountant. It can enable:

  1. Working papers that are dynamically prepared
  2. Smart workflow functions
  3. Automatic generation of reports

The software is recognized by ATSA in Australia. It is also identified as a Standard Business Reporting tool.

Technical characteristics of Lodge It

The Lodge It software has been designed by professional accountants. In addition to that, it is maintained by tax professionals who are experienced in the industry. The software has some technical characteristics as follows:

  1. It is streamlined such that it can build reports for financial purposes quickly. The software also helps users to fill in tax forms.
  2. It operates accurately because of error correction software which is built into it.
  3. Lodge It provides users with tips which can help the user to save taxes during filing.
  4. The software comes with guidance videos which teach users how to use it.
  5. It contains all ATO tax forms from the year 2011 to date.The software is built on the Amazon Cloud platform hence it is secure. Moreover, it undergoes penetration testing regularly.

LodgeiT’s tax software for accountants has wide integration. This means that it can connect to various other tax filing software such as QuickBooks Online and Xero. By relying on this connection, users can import tax accounts and statement information for filling forms automatically.

Some of the forms can be filled with the assistance of a wizard. As such, there are fields which are filled automatically as you use the software tool. In addition to that, it handles complex calculations quickly with minimal effort from the user.

Common calculations are built into the software. Examples of these are the interest on hire purchase, the cost of borrowing, depreciation and calculations of rental properties.

Conclusion

Lodge It is a tax return and filing software which is developed to help users file their taxes and interact with this financial activity. It is certified and receives regular updates. More information about it can be found in the official website.

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