Mix cream cheese, picante sauce and dried beef until creamy. (You may chop the dried beef in a food processor, then add the other two ingredients and mix.)
Place one tortilla shell on serving dish and spread with a layer of the mixture. Repeat this process until you have a stack of 8 to 10 tortilla shells with cream cheese layers between. Cover with plastic wrap and refrigerate overnight.
Cut into wedges to serve. Sprinkle with grated cheese and paprika. If desired, serve with sour cream, guacamole, or extra picante sauce on the side.
The grated cheese can also be added to the cream cheese mixture rather than sprinkled on top.