Tax Estimates and Accruals

Home > Managing Accruals and Tax Estimates with PTMS

New tax bills, updated assessments, newly acquired property — every little transaction can affect the accuracy of your estimate or accrual.

PTMS creates accurate and timely tax estimates and accruals. It automatically tracks each transaction and performs accrual true-ups, according to your company’s requirements—so you can spend less time tracking down information to update your tax projections and more time on tasks that reduce your tax liability. PTMS automates the invoicing of your customers at lease termination regardless of whether the tax bill has been received, so that you can improve cash flow.

How PTMS benefits you

  • Improves accuracy of forecasts and budgets
  • Reduces the time spent managing and updating accruals
  • Improves cash flow by billing customers at lease termination

PTMS solution features

  • Projects future tax liability using jurisdictional calculation methods and tax rates, or any user-defined calculation method
  • Applies user-defined inflation or deflation factors to values or tax rates to account for changing market trends or new acquisitions
  • Generates tax estimates and accruals at any level, e.g., state, county, bill, site, cost center, customer, asset, or lease, so that you can provide estimates according to your company’s practices
  • Helps users spread tax liability over various timeframes, e.g., calendar year, fiscal year, jurisdiction fiscal year, or any user-defined interval
  • Calculates monthly accrual amounts evenly or based on number of days in the month
  • Auto-updates and recalculates accruals based on new information, such as new value notices, updated tax rates, newly acquired property, and recently processed tax bills
  • Tracks accrual account balances over time and transaction details for each account, including beginning and ending balances, journal entries, and periodic accrual amounts
  • Exports customizable journal entry files for integration with accounting software
  • Generates customizable cash flow reports to ensure that you know how much is due and when

Advanced functionality for PTMS

How does this help my business?

PTMS has been a huge time-saver for us, from filing returns, the assessments, tax bills — really the whole process from beginning to end. We can prepare two or three hundred returns for a state  in four to five hours, and get them out the door same-day if needed. If you did that by hand, you’d need several people on hand to be able to handle that volume!

Bobby Barnes, VP of Compliance Operations DuCharme, McMillen & Associates

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858.547.4100 ext. 65304