Drake Accounting – FAQs and System Requirements

Article #: 15055

Last Updated: October 18, 2024

 

Tags: Drake AccountingDAS

Drake Accounting logo

Overview

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, reporting, off-setting entry bookkeeping, Financial and Accountant reports, and Accounts Payable with check writing capability.

  • The current software is Drake Accounting 2024.

  • Drake Accounting can be installed from an internet download.

  • During the year, updates are available via internet.

Payroll

Yes. We offer printing on pre-printed check stock and MICR printing on blank check stock.

Yes. We are partnered with Kotapay (formerly InterceptEFT).

No. You can enter all payroll info after-the-fact (ATF) at Employees > Payroll > ATF. ATF entries create a payroll file allowing payroll reporting.

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.

E-Filing

Yes, after you receive IRS authorization.

Yes. Drake Accounting creates a Form W-2 file that you can transmit to the SSA for Federal filing. The individual submitting the Forms W-2 through Drake Accounting will not need a BSO account for that transmission. However, if you are not using Drake Accounting to e-File Forms W-2 or if you are transmitting a state W-2 e-File, a BSO account will be required.

Drake Accounting includes the ability to create a state electronic submission file for the Forms W-2. 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).

Both Federal Forms W-2 and State e-Filings for NC (Forms NC-3, 1099-R and W-2) can be transmitted through Drake Accounting. Additional states will be available in the future.

Yes. Drake Accounting creates a transmittal file to upload to the IRS.

Depending on the state and your setup for e-filing, the federal Forms 1099 state information in some cases may be sent from the IRS to the state.

To e-file Forms 1099/1096, you first must set up an account with the IRS and you must have a Transmitter Control Code (TCC).

Forms

Yes. We work with Nelco. See the Nelco web page for details and pricing.

Drake Accounting will print both the form and data for all available formats (2-up, 3-up, 4-up, and 4-down).

Blank perforated forms for the 3-up, 4-up, and 4-down formats are suggested and are available from Nelco.

Yes. You will need the Forms 1099 IRS copy A and the Forms 1096 red lined form. You can get these from the IRS, Nelco, or other office supply.

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 watermark visible on a form when you save it indicates the state has not yet approved the form for filing.

Accounting Features

An Accounts Receivable module is included.

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.

Yes. Client/Employee/Vendor/Contractor setup information updates under Client > 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.

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.

Software Installation

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 from the most used workstation. The Peer-to-Peer network setup is supported starting with DAS21.

Drake will supply the serial number to activate Drake Accounting when you purchase the software.

Yes. Drake offers QuickBooks, Sage 50 (Peachtree), Easy/ACCT, and Dillner's Tax conversions for Drake Accounting.

Conversion from the 1099-Etc program from Advanced Micro Solution is not available.

System Requirements

Supported Operating Systems

  • Windows 10

  • Windows 11

  • Windows Server 2012

  • Windows Server 2016

  • Windows Server 2019

All operating systems are expected to have the latest updates installed.

Caution  Windows 10 in S mode is not compatible.

System Recommendations

Operating System Windows 10 Pro, 64 bit
Processor 2.0 GHz or faster multi-core processor (Intel Core i5 or equivalent)
RAM 8 GB or more, 2 GB or more of available hard drive space, plus 10–20 MB per client*
Monitor Capable of 1920 x 1080 resolution
Internet connection 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 portal access.
Printer Laser printer (required if submitting printed forms to the Social Security Administration) Laser printer with magnetic ink cartridge if printing MICR checks.
Browser 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 4.8 or higher
Other 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)

Network Capabilities

  • Whether you are an office of one or 100, it’s easy to network Drake Accounting with a dedicated server or peer-to-peer (P2P) setup (starting with DAS21).