The Company Setup Menu is where information about your firm and its preparers is stored. In Keystone Tax Solutions Pro, this menu can be accessed by the Admin user as well as by users with a a security role of “Unlimited”. To access this menu, from the Main Menu of Keystone Tax Solutions Pro select:
- Configuration
- Firm / ERO / Preparer Setup
1. Firm Information
All of your company information is stored in the Firm Information Menu. This is the information that will appear on the bottom of the Form 1040 when printed. If any of the information needs to be edited, go to the Firm Information Setup Menu. Select the item(s) that need to be added or changed and enter the correct information. Leave the Group Code field blank. (A code should only be entered if advised by a member of our Technical Support Group.)
When you exit the menu, you will be asked, Do You Want to Replace all Preparer Information with the Firm Information that was Just Entered? In most cases, answer this question YES. Answering NO will not update any of the firm information that is in the Preparer database. This is important if you have preparers from another firm or ERO in the Preparer database. Answering NO will prevent the firm information for these preparers from being overwritten
Note: Existing tax returns aren’t automatically updated with revised firm information. To update in-process tax returns with revised firm information, you will need to reenter the preparer code inside the tax return. For details on reentering the preparer code, click here.
2. ERO(s) Menu
The Electronic Return Originator (ERO) is the person whose name is associated with the assigned EFIN. This is usually the owner of the company. You were prompted to enter your ERO information during the initial configuration of the program. ERO information is often identical to the Firm Information, and initially is created this way, but it should be verified for accuracy for your situation. If you plan to e-file returns but do not yet have an EFIN, upon receiving an EFIN be sure to return to the Firm Information menu and the ERO menu and enter it on the appropriate line. If you have more than one EFIN, and you will be transmitting using multiple EFINs, be sure to enter all of the information for each EFIN in the ERO(s) Menu.
3. Preparer(s) Menu
To add, edit, or delete preparers stored in the program, select the Preparer(s) Menu. To add a preparer, first assign the preparer a number ranging from 1 to 999999. Next, enter the SSN of the preparer followed by the preparer’s PTIN. The PTIN is nine characters long and always begins with the letter P. Next, enter the preparer’s first and last names, along with their username to log into the program. If the preparer is self-employed, check the checkbox that indicates this. When finished, click OK.
Enrolled agents, as well as anyone compensated to prepare all or substantially all of a tax return, are required to obtain a PTIN from the IRS. For more information about PTINs, click here.
Additional settings in the Preparer Edit Menu:
E-Mail Address – Enter the preparer’s e-mail address here. This is required on some state forms and bank forms.
Preparer Practitioner Pin – This is set by default to 1 followed by the last four digits of the PTIN, or if no PTIN is entered followed by the last four of the SSN. This is the PIN that will go on Form 8879. Change it if desired.
Preparer Hourly Rate – For self-employed preparers, enter their hourly rate here.
Preparer Prep Fee Commission %– If you wish to pay your preparers a commission based on the return’s preparation fee, enter that percentage here.
Preparer E-file Fee Commission %– If you wish to pay your preparers a commission based on the return’s electronic filing fee, enter that percentage here.
2848 / Acceptance Agent Information – If this preparer participates in the IRS Acceptance Agent Program, enter their information here. For more information about this program, click here.
Republic Bank Prep Number (only visible if you are using Republic Bank for bank products) – Enter the preparer’s RBIN assigned by Republic Bank here.
Supervised Preparer – You may wish to have a preparer’s supervisor’s information attached to returns, rather than the preparer’s information. If so, select this line and enter the supervisor’s preparer code.
Change Firm Information – If a preparer is employed by a different firm, you can enter their firm information here. If you only wish to view this information to verify its accuracy, after selecting Change Firm Information answer NO to the question about changing the firm information.
Preparer Security – In this menu you can edit the preparer’s username, clear their password and security question (so that they can be recreated the next time the preparer logs in), and set their security role. You can also modify any of the security role settings as desired.
4. Role(s) Menu
Anyone who logs into Keystone Tax Solutions Pro is assigned a security role, and their security role specifies what menus or functions in Keystone Tax Solutions Pro they can access. Three preset security roles are provided for you — Return Preparer, Super User, and Unlimited — and each provides varying levels of restriction, with Return Preparer being the most restricted and Unlimited containing no restrictions. You can also create other security roles if you wish, customizing each to allow or deny access to each menu or function as desired for particular preparers in your office.
Note: When a preparer is added in the Preparers Menu, their security role is set to Super User by default. If you wish, you can change their security role to any other role in their Preparer Security menu, or change individual security settings.
5. Use Return Review Workflow
If set to YES, Return Review Workflow is activated. This is a system that prevents returns from being marked complete and ready for e-file until they have been reviewed. If it is activated, you will need to check each preparer’s Return Review Workflow Options to ensure they are correct. Click here for more information.