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I just want to clarify that this new integrated signing option doesn’t allow for letting the client choose a signature style. They can only sign it manually with finger or mouse?

Correct… For now, signatures must be manually with a finger or mouse.

We are considering other options (like some other signature providers offer), but before we rush into that, we are hoping that CRA will formalize their signature requirements.

I love the fact that TaxCycle has come up with a product like this, but find the price to be too high for my use.

With 700ish T1 customers in Feb/Mar/Apr/May, it’s too expensive at almost $800.00, including tax – heck that’s almost double what I pay for my T1 software every year.

Add to that the fact that this is advertised as an “introductory” price, implies that it will be even more expensive in future?

As a comparison, I used DocuSign for 4 months this year @ $50.00 per month, then reverted my account to their free version…until next Spring when I’ll switch back to Standard for 4 months again.

Any chance of a cheaper version of TaxFolder for us sole-proprietor types – maybe just the e-Signatures without the other doc storage frills, etc?

Thank you…

Mike

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Thanks for the feedback!

It would not surprise me if you hear from DocuSign at some point, and they’ll want more $$$ from you. For $50 / month, they are not expecting you to exceed 100 signatures in the year. From the DocuSign website:

DocuSign eSignature Plans and Pricing | DocuSign

At some point we may have more economical pricing plans, but not this year. We are far cheaper than any e-Signature solution that offers the complete integration that we have. There are cheaper e-Signature plans out there, but nothing under $600 / year that allows any kind of API integration.

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As a heads up, I have been using a product called Signnow, with an annual cost of $275 US per year.

Yes, the client needs to download a free app to their iOS or Android device to ‘draw’ their signature.

I have been using this software since 2015 with great success, both in person and remotely.

Mark

We use Adobe Acrobat DC. It allows pdfs to displayed as tabs which is the main reason we upgraded from Standard. However, it has Adobe Sign built in which works well. The monthly subscription is USD 13.00. I don’t think there is any limit on the amount of signing.

Regards

Jim

What do you mean by display as tabs?

If DocuSign does, in fact, want me to fork over hundreds of dollars this year, I think I’ll just do the following…albeit without the automation to update file statuses in TaxCycle…

  • create a new print set to generate a custom email with the T183 PDF attached
  • the email will include instructions for the client on how to sign and return T183 via computer or phone
  • the customer electronically signs it and emails it back to me
  • I print and/or attach the PDF to the Taxcycle file and manually update the T1 file status to note that the T183 has been signed

Same process for AUTH’s, using another custom print set/email.

Bottom line…a little extra work for me updating statuses on the TaxCycle files, but will save me quite a bit of money per year.

Thoughts anyone?

I send documents by e-Courier; have them sign and return via e-courier. I am not prepared to take a chance sending returns by regular email.

Try Adobe, it is much better and affordable than dousing and no limit.

Are you recommending certain apps for signing using the phone. I am going to be adding more instructions this year for clients myself.

Mike,

One of the main reasons why I use sign now is IOS and Android apps, allowing me to use an iPad for inperson signatures, and for the client to use their phones/tablets to sign as well.

Mark

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I have a question:

I know one license for one user comes with 500 signatures. What happens if I need a 501st signature? How much it cost for an additional “x” signatures. Lets assume 2 scenerios:

  1. I have a VERY VERY busy March and April and by April 21st I need a 501st signature to send to a client. What what would look like for pricing for the next “X” signatures for the rest of 2020 tax year or calender year 2021.

  2. I have a reasonable slow March and April and by Novemember 2020 I need a 501st signautre to send to a client. How much would it cost for the next signature and going forward for rest of calendar year 2021 or tax year 2020.

My concern is how secure these 3rd party apps like SignNow are. How easily are they hacked to reveal all the tax info of our clients? How secure from hacking via other apps are our client phones or tablets to download their tax info into? Honestly, if I was ill intentioned, knowing that due to Covid people are sending really important documents to be signed digitally, I would make these types of apps my target. And we all likely work with a LOT of senior clients who aren’t the most tech saavy when it comes to virus protection, strong passwords, etc.

Encypted in flight and at rest.

Has the ability to product a drawn or ‘wet’ signature remotely, which is why I still continue to use the service.

Mark

We do about 900 T1’s per year, so I try to estimate how much time I might save on each return by having a more efficient method. So, if something saves me 3 minutes per file x 900/60 = 45 hours, I won’t guess what each of you could do with that extra 45 hours, take a week off or reorganize your business or just do another 45 hours billable time. I*'m looking forward to what TaxFolder can do for my business.

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@asifnana TaxFolder pricing is based on the number of users at your firm and the number of clients you add. With the introductory pricing, the first license allows for up to 500 clients and signatures are unlimited. We do not bury any surprise charges in the fine print. If you have more clients or more users you can add additional licenses. I am excited about what TaxFolder can do and I know once it is in your hands, all of you will help us make it even better.

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Ah so it’s not based on number of signatures, it’s based on number or clients. So if I have 400 clients and all of them use 3 signatures each. Then one license per year should suffice ?

@mike

Then you have not received the phone call yet from Docusign regarding your total number of signatures.

Check out the FAQ on Docusign,
DocuSign eSignature Pricing Plans

eSignature Standard and Business Pro
We believe that send volume (i.e. number of envelopes sent for signature) should not be a deciding factor in selecting your eSignature provider, and we understand that you may not know how many envelopes you’ll need to send for signature in your first year with DocuSign. Based on historical usage of our existing customer base, we know that 100 envelopes per user per year far exceeds the needs for most customers. Therefore, Standard and Business Pro annual plans include an allowance of up to 100 sent envelopes per user per year. Monthly plans have a pro-rated monthly allowance. Once an envelope is sent, it will count towards this allowance whether or not the envelope is signed or completed. You will be able to correct an envelope in flight prior to completion without having it count toward the plan allowance. The number of envelopes sent for signature using PowerForms or Bulk Send will also count towards this allowance. If you do send more than 100 envelopes in your first year, our sales team may contact you to help you choose the plan that best meets your needs.

I got the call this year and they wanted around $2,000 for Docusign for this year from me and I only sent 250 packages or eight dollars a piece. Your 700 docusign packets are far above the prorated 33 purchased for the four months you had a license. Do the math, 700*8=$5,600 for you to send 700 packages to your clients using docusign compared to Taxcycles $800 you are getting a deal. Btw, Since you are sending more than the maximum amount of packets, you are required to call them to purchase the proper licence going forward per the FAQ.

Actually, they have changed their FAQ since it use to reference fair use and now it is specific on how they are counting the usage so do not be surprised that you are cut off after hitting your quota if you do not pay them eight dollars per signature.

Looks like you would get a deal with more

Cheers