- Provides live and after-the-fact employee payroll with additional portal access available on the Internet. Also included are MICR check printing, direct deposit, e-filing quarterly and yearly employment tax forms, and e-filing Forms W-2 and 1099-MISC.
- Employee payroll supports direct and indirect tips, and up to 20 additional payroll benefits and deductions per check.
- Forms 940, 941, 941SS, 941X, 943, 943X, 944, 944X, 944SS and W-2 are supported, as well as all state quarterly unemployment forms. Payroll journal entries can be created from payroll checks entered, to save keystrokes.
- Set up a custom chart of accounts, import from an existing client or use a template.
- During setup, change account information as needed, add account levels, enter current, budget, and starting balances, and export to Drake Tax.
- Make journal entries to one of the five separate journals – general, cash receipts, cash deposits, payroll, or budget – or save time and have Drake Accounting do it automatically.
- Reconcile cash accounts, post monthly transactions and close at year-end, and format financial reports using custom headers, footnotes, and logo.
- View or further customize any of the financial reports, using most word processors.
Contractor Payments and Accounts Payable
- Print and track payments (live or after-the-fact) to contractors (1099-MISC) and other payees.
- Pay contractors by direct deposit, and, for payees, pay by invoice or simply use the check writer with little or no setup involved. At year end, create Forms 1099-MISC and print or e-file when needed.
- Send invoices and customer statements and post customer payments, penalties, and service charges.
- Track past-due monies and monitor sales tax liabilities (state, county, and local).
Create these federal forms for printing or e-filing:
- Forms 940, 941, 941SS, 941X, 943, 943X, 944, 944SS, 944X
- Forms W-2, W-2G
- Form 1098 Mortgage Statements
- Forms 1099A, A, B, C, DIV, INT, MISC, PATR, R, and S
- Secure client information by job function: admin, office manager, or data-entry
- Use spreadsheets to import initial client data: employees, contractors, vendors, customers, chart of accounts, and journal entries
- Print all forms and documents in PDF format
- Print mailing labels for employees, contractors, vendors (A/P), and customers (A/R), using 3 1/2” x 1 1/8” roll labels
- Override the default Payroll General Ledger accounts for an employee or contractor
- Optionally post payroll journal transactions automatically
- Optionally print other information on paystubs
- Enter up to 20 payroll deductions and benefits
- Maintain options and General Ledger Contractor information independently
- Indicate contractor default accounts for cumulative entries to the journal and by 1099-MISC box categories
- Allow clients to initiate and track payment of contractors through the web portal
- Provide PDF reports to and from clients through the web portal
- Tutorials are available in English and Spanish.
Supported Operating Systems • Windows 7 • Windows 8 • Windows 10 • Windows Server 2008 • Windows Server 2012 • Windows Server 2016 All operating systems are expected to be running the latest service pack. Minimum System Requirements • 1 GHz processor • 1 GB of RAM for 32-bit and 2 GB of RAM for 64-bit • Monitor capable of 1024 x 768 screen resolution • CD drive(unless choosing download option) • 1 GB of available hard drive space • HP-compatible laser printer • Internet Explorer 11 • Internet access (required for regular updates and PPR software) These are the minimum requirements to run Drake Software on most systems. For superior performance, we recommend system upgrades above the stated minimums. Actual requirements will vary based on your system configuration and the features and other programs you wish to install. Network Capabilities Whether you are an office of one or 100, it’s easy to network Drake Software with a dedicated server or peer-to-peer network. Recommended System Requirements • Windows 7, 8 or 10 Professional 64-bit • 2.8 GHz processor • 4 GB RAM • Monitor capable of 1280 x 1024 screen resolution • High-speed internet access(recommended for GruntWorx, SecureFilePro, Google and Outlook Calendar integration) • TWAIN-compliant scanner (recommended for Drake Documents)