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ProSystem fx Engagement 4.0 Builds on Strength

(RIVERWOODS, ILL., October 27, 2005) – CCH has announced the release of ProSystem fx Engagement 4.0, the latest version of the paperless engagement tool that was recognized by Accounting Today as one of the top 100 products of 2005. CCH is a leading provider of tax and accounting information, software and services (tax.cchgroup.com).

“This latest release builds on strength,” said Stuart Gill, CCH product manager. “It’s faster and smoother, enables more integration with other members of the ProSystem fx Office suite and, as always, offers users more functionality.”

New Architecture Enhances Performance

Overall performance has been improved through the implementation of a Catalog Database, consolidating the current binder database. This new architecture – invisible to the user – greatly reduces the amount of space, memory and other resources used on office servers and provides optimum database manageability.

In addition, ProSystem fx Engagement 4.0 supports Active Directory imports and updates, allowing directory service integration between users’ directory services and the Engagement staff database. This reduces and often eliminates duplicate entry of staff and user information.

Integration Brings Smoother Workflows

Integration with other ProSystem fx modules continues to increase with ProSystem fx Engagement 4.0, reaping benefits of better, smoother workflows. For example, trial balance information can now be imported from ProSystem fx Write-Up, with the option of selecting the number of prior periods to import, as well as non-tax grouping list data.

New engagements can now be created from within ProSystem fx Practice 7.0 or higher. This allows an entire engagement to be tracked in a project so assignments can be tracked, notifications can be made to team members, project leaders and individuals who are in charge, along with providing management tools to track the status of the engagement and the budget vs. actual costs and timelines. Users can access and manage Practice time clocks, time transactions, clients, projects and the Client Inquiry module from within ProSystem fx Engagement.

With ProSystem fx Document 2.5 and higher, users can now select an Engagement client, launch a binder and open Engagement directly to that binder. From ProSystem fx Engagement, users can specify which groups and subgroups they want to send to ProSystem fx Tax, including Retained Earnings, Net Income and the Accumulated Adjustments Account, giving them more control.

“With every release, users of the ProSystem fx Office suite realize more and more of the benefits of integration,” Gill observed.

More Options

ProSystem fx Engagement 4.0 is also easier to use than ever before and offers users more ways to get things done. For example, with Adobe Professional or Standard Editions 6.0 or higher, workpaper notes can be created and workpaper references and tickmarks can be inserted into PDF documents. Workpaper references are live which allows the user to open the workpaper being referenced directly from the PDF file.

Engagement 4.0 also allows users to customize their toolbars by adding, deleting or modifying existing buttons. It also supports dual monitors, making it easier to compare source to final documents and year-to-year financial information.

“Many firms are investing in dual-monitor workstations to increase workflow,” Gill observed.

Options for Reports

New options have been added for many reports, as well. Net Income amounts are now automatically calculated and may be displayed on the Trial Balance and Trial Balance reports. The index and name are now displayed in the Trial Balance heading.

Trial Balance reports now include an option to sum account group totals on Summary-Subgroup and Detail Trial Balance reports. Account groups and subgroups can also be created and inserted directly into the Account Groupings dialog. This dialog now also allows all properties of a group or subgroup to be defined. Account and ratio classifications can be modified or deleted and new classifications can be created.

“Many of these enhancements came about, quite simply, because we listen to our customers,” Gill said. “I’m confident that as long as we continue to do that, we’ll continue to improve.”

About CCH Tax and Accounting

CCH Tax and Accounting (tax.cchgroup.com), based in Riverwoods, Ill., is a leading provider of tax, audit and accounting information, software and services. It has served tax, accounting and business professionals and their clients since 1913. Among its market-leading products are The ProSystem fx® Office, CCH® Tax Research NetWork™, Accounting Research Manager™ and the U.S. Master Tax Guide®. CCH Tax and Accounting is a Wolters Kluwer company.

Wolters Kluwer is a leading multinational publisher and information services company. Wolters Kluwer has annual revenues (2004) of €3.3 billion, employs approximately 18,400 people worldwide and maintains operations across Europe, North America and Asia Pacific. Wolters Kluwer is headquartered in Amsterdam, the Netherlands (www.wolterskluwer.com). Its depositary receipts of shares are quoted on the Euronext Amsterdam (WKL) and are included in the AEX and Euronext 100 indices.

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