Drake Accounting®: How do I setup my Firm Information?
To set up the firm information, go to Firm > Firm Information Setup. Some fields have a red exclamation point (
) that indicates that the field is required. The fields that do not have the exclamation point are optional entries.
Watch the Firm Setup video for a demonstration. Blue hyperlinks on the setup window will open relevant IRS and the Drake Software Knowledge Base items.
Note: Drake Accounting® does not support setup of multiple firms.
Required entries in Firm Setup:
- Firm name
- Contact: Enter the name of the person who will communicate with the IRS in reference to the client accounts. The contact is required in order to file electronically.
- Address and Zip for the firm.
- Phone Number for the firm.
- Email Address: (Required for e-filing): The e-mail address is used throughout the program for forms requiring the firm’s e-mail information.
- Federal ID - choose EIN or SSN: Enter the Employer Identification Number or Social Security Number for the firm. Forms 1099 and Forms W-2 can be e-filed using a Social Security Number; however, if transmitting Forms W-2 with a Social Security Number, the firm must be a sole proprietorship with no employees.
- EFIN (Electronic Filing Identification Number)
- Account #:
- Enter your Drake account number as found on the packing slip.
- This number can also be found by logging into the Drake Support website > Account > Account Info.
This number is required to e-file 94x series tax returns.
- e-File Password:
- Enter your e-File Password that is found on the packing slip.
- This number can also be found by logging into the Drake Support website > Account > E-file Password.
- TCC (Transmitter Control Code):
- Enter the five-character alphanumeric TCC assigned by the IRS/ECC-MTB.
- A TCC must be obtained to e-file 1099 data with this program.
Optional entries in Firm Setup:
- Fax number for the firm.
- PTIN: Preparer Tax Identification Number
- E-File Setup: If you will be e-filing 94x forms, some of the fields in this section must be completed.
- e-File 94x
- Select this option if you will be e-filing any 94x tax returns.
- If this option is not selected, e-filing of 94x tax returns is not available.
- Once this selection is made, complete the rest of the e-File Selections section.
- ERO PIN
- If you will be e-filing any 94x tax returns as an ERO, enter a self-selected five-digit numeric PIN.
- An ERO (Electronic Return Originator) e-files their customers’ 94x tax returns and is not responsible for the content of the return.
- Reporting Agent PIN
- If you will be e-filing any 94x tax returns as a Reporting Agent, enter the five-digit PIN you received from the IRS.
- Name Control
- Enter the name control assigned by the IRS to the firm. The name control contains up to four characters.
- This name appears on all written correspondence from the IRS to the firm.
- Transmit Federal W-2 e-Files through Drake Accounting
- You will be able to bulk e-file the federal Forms W-2/W-3 to the Social Security Administration via DAS. The process is essentially the same as e-filing a single file, but with bulk, you are able to transmit more than one at a time to the SSA using DAS.
- This option must be selected in order to transmit Forms W-2/W-3 through DAS and to view results.
- This option has DAS check to see if you've already signed the contract and clicked on the link in the confirmation email that gets sent out to the email on file with Drake Software after it is accepted.
- If you have not signed the contract and/or clicked on the link in the confirmation email:
- The checkbox in the W-2 Contract dialog box will be enabled and will be unchecked, and the Accept Contract button will be come enabled, once the checkbox has been checked.
- If the confirmation email has not been confirmed before closing out of the W-2 Contract dialog box:
- The Transmit Federal W-2 e-Files through Drake Accounting checkbox will become unchecked. Otherwise, the checkbox will stay checked.
- If the contract has been already signed:
- The checkbox in the W-2 Contract dialog box will be checked and disabled, indicating that you are eligible for transmitting Federal W-2 e-files through DAS.
- Transmit State e-Files through Drake Accounting - Check this box if you are planning to transmit state files through DAS.
- BSO User ID - If you intend to transmit Federal W-2 e-Files through Drake Accounting and do not need to send any State W-2 e-Files, a BSO User ID is not required.
- EFTPS Setup (Beginning in DAS20)
- Batch Filer ID
- This is a 9 digit number assigned by EFTPS. This information will be mailed to you after registering as a Batch Provider with EFTPS.
- Master Inquiry PIN
- This is a 4 digit number assigned by EFTPS. This information will be mailed to you after registering as a Batch Provider with EFTPS.
- Backup Path:
- This is the location where copies of client data are backed up.
- The default backup path is .\Backups\.
- The client data and backup files are currently configured to save to the same drive.
- To specify a different location, enter the path or select the button to the right of the text box and browse to a new location. This is also the backup location used before every Post Transactions process.
- It is highly recommended to save backup files to a different drive to prevent data loss due to unexpected hardware failure.
- Data Path (DAS2020 and prior):
- This designates the storage location for the client files.
- The default (and recommended) data path is DrakeAccounting20YY\Clients\.
- Important: Do not change the location of the data path without the supervision of Drake Accounting® Support. Call Drake Accounting® support at (828) 349 - 5908 for assistance.
- Automatically Overwrite Forms
- Enter a number here to indicate the maximum number of forms to save before the software begins to automatically overwrite the oldest form.
- Automatically Backup Client Files
- Set up Drake Accounting® to automatically backup client files at designated times.
- When Automatic Backup is selected, Drake Accounting® backs up the current client information to the default backup folder under Firm Information Setup.
- Either the Start of Client Session or the End of Client Session options may be selected:
- Start of Client Session
- When this option is selected, the active client’s information is backed up when Drake Accounting® is launched and, when changing the active client, the newly active client’s information is backed up.
- Files backed up using this option have an S (Start of session) added to the end of the file name (e.g. Drake_Co¥2018-02-22_15-06S.ZIP). Files are backed up to the location specified in the Backup field on the Firm > Firm Information Setup window.
- End of Client Session
- When this option is selected, the active client information is backed up when you exit Drake Accounting® and, when changing the active client, the client you are leaving is backed up.
- Files backed up using this option have an E (End of session) added to the end of the file name (e.g. Drake_Co¥2018-01-15_14-21E.ZIP).
- Files are backed up to the location specified in the Backup field on the Firm > Firm Information Setup window.
- Maximum Number of Backups Per Client
- When using the Automatically Backup Client Files option, a great number of backup files can accumulate. Use this field to set the maximum number of backup files to accumulate for each client.
- When the specified number of backups has been taken, the next backup will replace the oldest backup taken for that client (“first taken - first replaced”).
- Check Printers
- Click the drop down icon to the right of the printer text box to select your check printer.
- MICR Printer - Assign the default printer used to print MICR checks.
- MICR check printing requires a high quality laser printer using MICR toner.
- If using blank (not pre-printed) MICR check stock to print payroll or vendor checks, specify your MICR printer.
- Pre-Printed printer - Assign the default printer used to print pre-printed checks.
- Pre-printed refers to check formats that have many informational fields already printed on the check stock.
Note: Be sure to click Save when finished entering information on this screen.