AcTax started as a Tax and Accounting Office in the year 1997 as ATS (Accounting and Tax Services). The office used the best tax and accounting software available in the market. However, over a period of time, it was realized that most of the existing tax and accounting software had serious limitations which prevented the office from expanding its customer base. There were issues with compatibility between the software from different vendors and data conversion between software was not convenient either. There were very few companies which were offering the complete suit of software for tax and accounting needs of our office. We felt that the prohibitively priced software was just not designed to suit the needs of a small tax and accounting office.
This is when AcTax decided to create a suit of software which would perfectly suit the needs and budget of a small tax and accounting office and allow them to outsource tax and accounting work with the click of a button. Over the next few years, substantial efforts were made to accumulate and manage the knowledge required to develop these software. Our analysis showed that the requirements of tax and accounting professionals were highly complex and more demanding than the solutions offered by the existing software in the market. The research and analysis over the next few years developed a clear vision to create a comprehensive suit of tax and accounting software that would work both online and offline to allow maximum flexibility to the tax and accounting professionals.
Looking at the System Specification, the selection of technology to develop the products was a challenge in itself. The software had to be robust, work on different operating systems, allow trouble-free connectivity to the Internet and our servers, allowing various users from the same office to share work, offering custom workflow’s, and data security. The software was required to have advanced network capabilities over the local office network as well as the remote networks and the Internet. The system required to communicate with the sophisticated IRS servers for the purpose of e-filing. The user interface had to be simple and elegant while handling highly complex operations in the background. The system had to be capable of handling several thousand forms, innumerable calculations, and act as a repository of knowledge, laws, and defined processes.
In the year 2001, AcTax started developing the system with Java as the choice of platform. This started a long process of developing the system, adding new forms, programming the tax and accounting laws into the software, and getting e-file approval for various modules (individual/business) and states. By the year 2004, the online system for processing tax was up and running commercially during the 2004 tax season. In the year 2005, AcTax had dedicated tax professionals testing the first release of the software. In the year 2006, the tax season witnessed the debut of TaxExact Pro – the comprehensive tax software supporting various individual and business modules and several important states. The year 2006, also saw the debut of the long-awaited AccountExact (Accounting Software) with its client interface and capabilities to process sales taxes and payrolls.