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TEdec Professional Fiduciary Accounting Software

 

TEdec Professional Fiduciary Accounting Software is a full featured, intuitive trust and estate accounting software program designed for lawyers and other professionals and their staff administering trusts and estates.


Customer Comment: "As an Estate Paralegal with thirty years' experience in Rochester, NY, primarily with the Culley, Marks law firm, it is my pleasure to enthusiastically endorse TEdec Systems, Inc., and its TEdec Fiduciary Accounting system. . . We have found TEdec to be an excellent and reliable tool in this practice. Concerning service and software maintenance, TEdec Systems, Inc. has been absolutely FANTASTIC." Susan M. Salzman, Estate Paralegal, Culley, Marks, Tanenbaum & Pezzulo, LLP. Rochester, NY.


 

Your investment in TEdec includes all of the following:

 

Types of Entities Supported

 

TEdec includes all of the following types of entities in one program for your convenience (with an automatic conversion from one to the other, in case the wrong entity type is selected):

  • Simple estate

  • Complex estate with trusts

  • Trust (inter vivos or testamentary)

  • Revocable Trust without further trusts

  • Revocable Trust with further trusts

  • Guardianship

  • Power of attorney

  • and others - call TEdec Support for additional information

Simple and Easy to Use Data Entry

 

TEdec Professional Fiduciary Accounting Software is designed on a cash and receipts disbursements method. TEdec also allows accrued expenses, administration expenses and debts of decedent. The standardized interface requires minimum training; and TEdec does provide free three hours of on-line Webinar training at the time of purchase — from our experience, this is all that is required to get you started with TEdec.

 

On Line Security Valuation

 

TEdec Professional Fiduciary Accounting Software includes on-line security valuations thru Estate Valuation Services, Inc. (EVP). TEdec provides the user with the option to choose the service the user wishes to use for estate valuations and to update security values. TEdec accommodates up to five historical market values for securities and at the user election prints a market value on the assets on hand report.

 

Accountings and Court Reports

 

TEdec Professional Fiduciary Accounting Software generates from the same data entry an easy-to-read informal accounting or a court formal accounting, depending upon your requirements. Additionally, TEdec has incorporated numerous jurisdictional specific reports. TEdec supports the following specific jurisdictional reports for:

  • New York

  • Pennsylvania

  • Florida

  • National Fiduciary Accounting Standard

  • Annual Trust Accounting (National and New York)

  • North Carolina (pending approval)

  • California (pending approval)

  • And, many more — contact TEdec support for a complete list.

Estate Tax Preparation

 

TEdec Professional Fiduciary Accounting Software exports to Lacerte® and/or CCH ProSystems fx® Tax Software for preparation of the estate tax returns. Once the export is completed, the returns are over 95% completed! TEdec provides a convenient User Check-List of items to check in the Lacerte® and/or CCH ProSystems fx® Tax Software 706 preparation module once the export is completed. In addition to the IRS Fm 706, Lacerte® and/or CCH ProSystems fx® supports the New York Fm ET-706 and the Florida Fm F-706.

 

Alternatively or in addition to the Lacerte® and/or CCH ProSystems fx® export feature, TEdec independently prepares Addendums to the Schedules to the IRS Fm 706, which can be used for convenient cross-checking and/or incorporated into the tax preparation of any other tax preparation program. Using the Addendums to the Schedules will minimize the preparation time for any estate tax return.

 

Fiduciary Income Tax Preparation

 

TEdec Professional Fiduciary Accounting Software exports to Lacerte® and/or CCH ProSystems fx® Tax Software for preparation of the Fiduciary Income Tax returns, IRS Fm 1041. Once the export is completed, the returns are over 95% completed! TEdec provides a convenient User Check-List of items to check in the Lacerte® and/or CCH ProSystems fx® Tax Software 1041 preparation module once the export is completed. In addition to the IRS Fm 1041, Lacerte® and/or CCH ProSystems fx® supports all state fiduciary income tax returns.

 

Alternatively or in addition to the Lacerte® and/or CCH ProSystems fx® export feature, TEdec independently prepares a Taxable Income Report, which provides for any tax year selected:

  • A summary of all income and expenses keyed to the IRS Fm 1041.

  • A detail of all income and expenses keyed to the IRS Fm 1041.

  • A summary of income by specific brokerage account — to tie to your 1099's.

  • A detail of income by specific brokerage account — to tie to your 1099's.

  • A summary of all expenses or income not associated with a brokerage account.

  • A detail of all expenses or income not associated with a brokerage account.

  • A separate detail Non-taxable Income Report and IRD/DRD Report.

  • A separate IRS Fm 1041 Sch D report — listing long/short term gain/losses.

All of these reports are designed to minimize the preparation time required for any fiduciary income tax return.

 

Management Reports

 

TEdec Professional Fiduciary Accounting Software includes numerous reports to effectively and efficiently manage all of your accounts and assets, including:

  • Bank Account Transaction Report.

  • Completrac Transaction Report — where you can micro-manage all transactions for any and all assets.

  • Accrual Listing Report — listing all outstanding accruals.

  • Security Lot Summary Report — TEdec manages all securities by separate lot, which gives you complete control in determining gains and losses, when selling or distributing securities.

  • Bank Account Reconciliation Report.

  • Recalc Report (Entity Status Report) with account summary — TEdec automatically displays both the fiduciary carry value and tax basis for each account and allows a summary by brokerage account.

  • And, many, many more.

Case Management and Fiduciary Calendar

 

TEdec Professional Fiduciary Accounting Software incorporates into the TEdec program for each entity (trust, estate, guardianship, etc.) without additional cost a complete case management and calendar system, which provides alerts for pending items/tasks and a case history of completed items/tasks.

 

Standardized Coding and Descriptions

 

TEdec Professional Fiduciary Accounting Software pre-codes all transactions and automatically populates standardized transaction descriptions, which generates professional looking final accountings and other reports with minimal data entry.


TEdec Service Bureau

 

TEdec Systems provides accounting preparation services thru the TEdec Service Bureau.

 

[Read more about the TEdec Service Bureau.]

 

Contact us at TEdec for additional information or pricing or payment options concerning the TEdec Professional Fiduciary Accounting Software.


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TEdec Trust and Estate Administration Software

 

Schedule a Webinar for a personal demo of the TEdec Professional Fiduciary Accounting Software