PTMS manages the complexities faced by manufacturers in tracking, valuing, and reporting their personal and real property.
PTMS is flexible enough to calculate values on your property to accurately reflect true fair market value, using both jurisdictional calculation tables, user-defined methods, and abatement or exemption rules. It creates facsimile personal property returns, centralizes all real and personal property work, warns users of upcoming tax bills, and takes the pain out of forecasting and accruals.
You’ll save time, minimize taxes, and manage all of your documents from one platform. Our customers report saving an average of 78% of the time they’d otherwise spend on property tax compliance tasks by using PTMS.
- Automates all aspects of personal and real property tax compliance
- Optimizes your allocation of workforce resources
- Increases tax return accuracy and shortens return filing times
- Proactively manages property tax tasks and deadlines
- Helps users pay more bills in less time
- Streamlines audits
- Improves the speed and accuracy of accruals and forecasts
- Minimizes taxable value by eliminating non-assessable costs and capitalizing on abatements and exemptions
- Provides tools to break out non-assessable costs, such as software, installation, and sales tax, from assets
- Eliminates redundant annual cleanup
- Split assets into multiple categories and ages, or across multiple returns
- Identifies asset changes, including transfers, new acquisitions, cost changes, and disposals, automatically upon import
- Built-in abatement and exemption tracking and calculations
- Calculate complex values, manage accounting or accrual processes, or generate reports using external data by pushing data in and out of Microsoft Excel without needing to import/export
- Access to information, including tax returns, calculation tables, tax rates, and due dates, from thousands of jurisdictions
- Auto-populates jurisdictional facsimile forms with your data
- Calculates asset values using a combination of assessor calculation tables, exemption or abatement rules, idle equipment factors, and other user-defined calculations
- Receive alerts for missing or over-assessed value notices and tax bills
- Track all appeal events, results, and costs using appeal management tools
- Available Optical Character Recognition (OCR) tools eliminate data entry for inputting value notices and tax bills
- Easy-to-use tax payment process allows for automatic feeds to any AP or AR system
- Allocation functionality apportions tax amounts to asset records for easy customer invoicing, division, or cost center accounting
- Generate accruals and forecasts at any level, e.g., state, plant, cost center, division, and tax bill
- Auto-updates accrual “true-ups” and journal entries upon new property, new values, new tax rates, or new tax bills
- Role-based security; comprehensive audit log ensures data integrity and Sarbanes–Oxley compliance
- Access status reports, analytics, and custom KPIs from anywhere, anytime
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!