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Canopy

Score8.8 out of 10

24 Reviews and Ratings

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What is Canopy?

Canopy is tax practice management software from Canopy, Inc., with accounting functionality designed for tax professionals and their customers. It includes tax resolution analytics, automatic IRS form population, client management, transcript delivery and reporting, custom service workflows, penalty abatement, casework/client engagement tracking, client portals, and billing and invoicing capabilities.

Categories & Use Cases

Key Features

Learn about the best (and worst!) features Canopy has to offer, as determined by TrustRadius' reviewers.
Based on 24 ratings of Canopy's features
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Top Performing Features

  • Sales and Use Taxes

    Software is capable of calculating and filing sales and use taxes.

    Category average: 9.1

  • VAT / GST Taxes

    Ability to calculate and manage VAT and GST taxes.

    Category average: 8.1

  • Energy and Fuel Taxes

    Ability to calculate and manage energy and/or fuel taxes.

    Category average: 8.1

Areas for Improvement

  • Geolocation for Tax Assessment

    Ability to use geolocation, which is more precise than zip codes, for mapping taxes to specific jurisdictions.

    Category average: 8.9

  • Tax Document Management

    Collection and storage of tax documents, especially exemption certificates, and ability to retrieve them to use for tax audits.

    Category average: 8.4

  • 3rd-Party Software Integrations

    Pre-built integrations with various systems such as ERP, ecommerce, CRM, invoicing and billing, accounting, and procurement applications.

    Category average: 8

Reviews

What users are saying about Canopy.
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Canopy is great if you can get a good deal. I think it still needs work.

Ryan RobinsonView profile
Partner in Finance and Accounting at Thrive CPA (1-10 employees employees)

Use Cases and Deployment Scope

we use it as our workflow management tool, time tracking tool, secure portal and CRM tool.

Pros

  • Canopy integrates well with Outlook to view client communications with anyone in the firm.
  • It has a strong workflow management modual
  • It provides an intuitive portal to share documents with, and receive documents from clients.

Cons

  • Canopy's time tracking feature is hard to get valuable data from without the pro version.
  • Canopy's dashboard for the workflow management could be better by providing a filter option of "Show me projects I'm assigned to and on which I am assigned to the current open workstep."
  • Canopy's training on the product could be better.

Return on Investment

  • An easy to use method for tax organizers
  • Positive ROI as a secure portal
  • Negative ROI because some features are limited and difficult to use such as roles in the tasks feature.

Alternatives Considered

CCH Axcess

Other Software Used

Drake Tax, Dropbox Business, QuickBooks Online

Substantiated and Consolidated Accounting Program

Incentivized
Robert Carley
Senior Accountant in Finance and Accounting at Advisory365 (51-200 employees employees)

Pros

  • Tracks the due dates of an operation or project.
  • Supports taxation, more so VAT and filing of returns.
  • The inventory control also supports companies.
  • Clients have individualized portals.

Cons

  • Canopy lacks scenario planning, which is essential.
  • No payroll management from Canopy.
  • Canopy fails to allow multi currency support.

Return on Investment

  • Tax compliance is an incredible procedure from Canopy
  • project accounting, ensuring the process is efficient as budgeted.
  • Invoicing and the billing, making the inflows and outflows balance.

Alternatives Considered

AccountMate and AccountSight

Other Software Used

Proconnect Tax Online, Azure Cost Management, Oracle Data Integration Platform Cloud

Soo easy to use & great feature set

Incentivized
Rui Pereira, E.A.View profile
Senior Tax Manager in Finance and Accounting at Mason Accounting & Tax Services (1-10 employees employees)

Pros

  • Interface is easy to use & understand
  • Single view of all things tax
  • Transcript delivery is great

Cons

  • They can add a few more columns to interface to include total tax liability amount
  • Reporting of data can be more inclusive

Return on Investment

  • It took a practice from zero revenue to $45k in 12 months
  • Saved company from having to invest in multiple tools
  • Enabled collaboration across departments and functions

Canopy - You should check it out

Incentivized
Jon Freemon
CEO (Chief Executive Officer) in Finance and Accounting at JF Consulting LLC (1-10 employees employees)

Pros

  • The top of this list is customer service without a doubt.
  • Innovating and updating the platform
  • Taking and implementing feedback from customers

Cons

  • Implement Organizers for business clients
  • Allow customization of Organizers
  • Continue focusing on a great CRM as opposed to tax prep software

Return on Investment

  • We had Canopy before the pandemic so the transition to the demand for virtual tax preparation was smooth.
  • Allowing clients access to their documents at their will saves us so much time.

Other Software Used

Xero

Canopy has come a long way!!!!!

Steven R WikView profile
Director of Business Engagement in Corporate at Schlabach Enterprises Inc. (1-10 employees employees)

Pros

  • Customer service.
  • All in one database.
  • Cutting edge improvements with customer feedback.
  • Extremely adaptive settings.

Cons

  • Add texting into portal communication stream.

Return on Investment

  • Increased efficiency.
  • Better client experience.
  • Will see cost savings.

Alternatives Considered

Accounting Power and Practice Ignition