MichaelN30
Level 3
12-01-2021
09:40 AM
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Prior to Pro-series, adding Form 5471 to its available forms, I prepared the Form 5471 on Lacerte. In general, Pro-series is generally easier to use than Lacerte; however, on Form 5471 this is not the case.
In Lacerte's Form 5471, you only have to enter the year end and average Foreign Exchange rates once, and the programs converts all Functional currency accordingly. In Pro-series' Form 5471, each Foreign Currency amount on the Financial Statements and Schedules has to be converted manually, which is a pain!
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