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Drake Electronic Training Center
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Drake Software launched its
Electronic
Training Center (ETC) in the summer of 2006. Made available at no charge
to our customers, Drake's ETC is an online, interactive site offering tax courses,
tutorials, and practice returns, all designed to enhance tax professionals' and
preparers' knowledge of tax preparation and Drake Software.
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Almost 11,000 students of varying levels of expertise and experience from 4,400
tax businesses participated in ETC's first year. ETC's training materials benefit
single preparers as well as offices with multiple preparers and are designed to
accommodate any skill level.
Drake's ETC includes basic and intermediate individual tax courses and a basic corporate
tax course. The basic course consists of eight study units and a final exam. It
covers subjects such as filing status, dependents, exemptions, deductions, child
care and earned income credits, and Schedule C for reporting income. Students can
earn up to four CPE credits through the basic tax course. The intermediate course
is similar to the basic course but delves more deeply into Schedules C, F, and E,
and takes a more thorough look at depreciation. CPE credits are also available for
the intermediate course.
The Basic Corporate Tax Course describes and explains the various parts of a corporate
1120 return and shows the student how to use corporate "books" to complete an 1120
in Drake Software. The course includes an in-depth look at Schedule L, Assets and
Liabilties (L-1 and L-2), Reconciliation of the Income Statement (M-1), Retained
Earnings (M-2), Depreciation, and the use of form 4562. CPE credits are also available
for those who take this course.
ETC's online tutorials impart the basics of Drake Software through step-by-step
movies. Practice returns provide hands-on data entry experience in which students
enter various taxpayer scenarios into the software and then compare results to available
solutions. Electronic filing and banking exercises allow students to e-file returns,
study any rejections and make corrections, then re-file the returns and print bank
products.
In offices where many students are taking courses, administrators will find it invaluable
to easily set up student accounts, track students' progress, view electronic report
cards, and print CPE certificates when all requirements for certification have been
met.
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