Tax Compliance, Inc.(TCI), the leading provider of property tax compliance software to corporate tax departments, announces the release of Property Tax Management System (PTMS) version 2.5, a comprehensive and innovative software product that completely automates personal and real property tax compliance for all taxing jurisdictions. Prominent enhancements in PTMS version 2.5 include improved estimating and accrual capabilities, new real property functionality, custom report capabilities and a file attachment utility.
The tax estimation and accrual portions of PTMS have been greatly enhanced in version 2.5. Comprehensive multi-year estimates can be created allowing users to make adjustments for additions, deletions, predicted tax rate increases, and other factors (e.g., locations which currently do not exist and locations slated for closure). All estimates can be saved and updated when more accurate information becomes available. Accruals can be tracked in relation to created estimates, enabling users to divide the tax year into any number of accounting periods and accruing payment information against them. Accrual information can be modified and re-calculated mid-year when more accurate tax bill information becomes available. Additionally, users can now create and modify “Journal Entries” which track/record payments for accruals. Such entries can include information on relevant general ledger accounts associated with the transaction.
PTMS version 2.5 gives users greater access and control over their real property information. PTMS users can now view, on one screen, their real property in a three level hierarchy: (1) site; (2) parcel; and (3) parcel components (such as land, improvements and buildings). Each site may contain multiple parcels, with each parcel containing multiple parcel components. Relevant assessment and comparative value information is displayed for quick and easy analysis. All historical data, such as appeal, abatement, and tax payment notes and dates are easily accessible and are automatically logged into the PTMS Tax Calendar.
One of the main advantages of PTMS is the ability to view, edit, print, and export asset information virtually any way the user might desire. Previous versions enabled users to configure on-screen data into report formats from any PTMS window or via the Reports Menu. PTMS version 2.5 provides each user with new tools to save such report configurations for future use.
To help users minimize extraneous paper files, TCI has added a file attachment feature to PTMS. Important files (MS Word® documents, MS Excel® files, scanned assessment notices, tax bills, photographs, etc.) can be attached to any property record for instant on-screen viewing and editing.
All of the above enhancements, like most new PTMS features, have their origins in user requests. TCI obtains such input through many channels including the Customer Zone on this site and normal day-to-day interaction with our clients. This commitment to solicit input from current and potential users is what has allowed TCI to continually improve PTMS and make it the most powerful, user friendly and dynamic property tax software system on the market today.