Drake Accounting®: FAQs
Some common questions are answered below concerning payroll, e-filing, forms, accounting features, software installation, and software system requirements. For other questions, contact Drake Accounting® Support at (828) 349-5908.
What is Drake Accounting®?
Drake Accounting® is an accounting software that offers Payroll/Payroll reporting, off-setting entry bookkeeping, Financial and Accountant reports, and Accounts Payable with check writing capability.
- The current software is Drake Accounting® 2020.
- Drake Accounting® can be installed from an internet download.
- During the year, updates are available via internet.
- Can I write payroll checks with Drake Accounting®?
- Yes. We offer printing on pre-printed check stock and MICR printing on blank check stock.
- Can I direct deposit payroll checks with Drake Accounting®?
- Yes. We are partnered with Kotapay (formerly InterceptEFT).
- Do I have to print checks in the software to create payroll reports?
- No. You can enter all payroll info after-the-fact (ATF) at Employees > ATF payroll. ATF entries create a payroll file allowing payroll reporting.
- If I enter payroll for check writing purposes, do I have to reenter the individual checks again?
- No. You can set up Drake Accounting® so that once checks are written you can write the entire payroll to the journal in one step, or you can use Auto Post for payroll, Live or ATF.
- Can I e-file 94x series forms through Drake Accounting®?
- Yes, after you receive IRS authorization.
- Can W2s be e-filed?
- Yes. Drake Accounting® creates a W-2 file that you can transmit to the SSA for Federal filing.
- Drake Accounting® includes the ability to create a state electronic submission file for the W2s. Drake adds this function for a state when information is available (if your state is not included, please contact Drake Accounting® Support, at (828) 349-5908, with link or contact information from your state).
- The individual transmitting the W2/W3 must have a user ID and password assigned by the SSA.
- Can 1099s be e-filed?
- Yes. Drake Accounting® creates a transmittal file to upload to the IRS.
- Depending on the state and your setup for E-filing, the federal 1099 state information in some cases may be sent from the IRS to the state.
- To e-file 1099s/1096s, you first must set up an account with the IRS and you must have a Transmitter Control Code (TCC).
- Does Drake Accounting® use check stock and forms from a specific distributor?
- Yes. We work with Nelco. See the Nelco web page for details and pricing.
- Are pre-printed forms needed to print W2s and W3s for year end?
- For 2 up printing (two forms to a page), Drake will print both the standard SSA form and data.
- If you prefer to print 4 up or 4 down (four forms to a page), Drake Accounting® will print data on Nelco forms.
- Nelco BW24UP and Nelco BW24DWN are the compatible forms for Drake Accounting®.
- Are pre-printed forms needed to print 1099/1096 for year end?
- Yes. You will need the 1099 IRS copy A and the 1096 red lined form. You can get these from the IRS, Nelco, or other office supply.
- Do you have state forms?
- Yes, we offer many state forms. In Drake Accounting®, please refer to Employees > State Tax & Wage.... for examples.
- Drake incorporates state forms into Drake Accounting® as the states make available the information that is necessary to program them.
- Newly-programmed forms are subject to a state approval process.
- A water mark visible on a form when you save it indicates the state has not yet approved the form for filing.
- Do you have an Accounts Receivable/billing function?
- An Accounts Receivable module is included.
- How detailed is Drake Accounting®’s Accounting Module?
- Drake Accounting® offers accounting flexibility. You can set up your client’s Chart of Accounts using an existing template. You also can create your own Chart of Accounts for a client and then import it into other client files for use there.
- Can I update clients and bookkeeping from year to year?
- Yes. Client/Employee/Vendor/Contractor setup information updates under Tools > Update Prior Year Clients. After you have closed the prior year in the prior year software, you can update bookkeeping in the current year software at Accounting > Chart of Accounts.
- Can I keep books on a fiscal year basis?
- Yes. There are additional considerations for fiscal year accounting. If you expect to use a fiscal year, call Drake Accounting® Support for more information about this capability.
- Can Drake Accounting® be networked?
- Yes. You install Drake Accounting® on the root drive of the server and map workstations to that drive as a network drive. We recommend that you install and update the software directly from the server. The Peer-to-Peer network setup is neither recommended, nor supported, as it can cause data corruption.
- Does Drake Accounting® provide a way for my clients to supply employee information directly without me having to enter it manually?
- That capability is available in Drake Accounting®’s portal function.
- Your client only needs internet access and a user setup on the portal. It permits your client to send employee information to a Drake web site that you can access to update Drake Accounting® with your client’s current information.
- This includes time card information from which checks can be written using Drake Accounting®.
- If you update that employee information in Drake Accounting®, you can pass it back to the client through the web site to ensure both you and your client are always in sync.
- I am using Drake Accounting® demo software. How do I get a serial number to activate it?
- Drake will supply the serial number to activate Drake Accounting® when you purchase the software.
- Is there a way to convert information from other software for use in Drake Accounting®?
- Yes. Drake offers QuickBooks, Sage 50 (Peachtree), Easy/ACCT, and Dillner's Tax conversions for Drake Accounting®.
Supported Operating Systems
- Windows 8.1
- Windows 10
- Windows Server 2012
- Windows Server 2016
- Windows Server 2019
All operating systems are expected to have the latest updates installed.
Windows 10 in S mode is not compatible.
|Windows 10 Pro, 64-bit
||2.0 GHz or faster multi-core processor (Intel Core i5 or equivalent)
||8 GB or more
|8 GB or more
|2 GB or more of available hard drive space, plus 10–20 MB per client*
||Capable of 1920 x 1080 resolution
|Internet access is required to install program updates and to e-file. High-speed internet
access (e.g. DSL, cable, fiber optic) can improve user experience with direct deposit and
Laser printer (required if submitting printed forms to the Social Security Administration)
Laser printer with magnetic ink catridge if printing MICR checks.
|Internet Explorer 11 or Edge browser must be installed (other browsers such as Chrome and
Firefox can be installed and used as the default)
|Microsoft® .NET Framework
| Version 4.7 or higher
|| Adobe Reader
*Actual space requirements will vary based on the type and number of clients you serve. Solid-state (SSD) hard drives can enhance system performance.
Minimum System Requirements
The following minimum system requirements will support Drake Accounting® 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 install.
- 1 GHz processor (Intel Core i3 or equivalent)
- 4 GB of RAM
- 1 GB of available hard drive space, plus 10–20 MB per Client
- Monitor capable of 1024 x 768 screen resolution
- Internet access (required to install program updates)
- Whether you are an office of one or 100, it’s easy to network Drake Accounting® with a dedicated server.