Tax Compliance, Inc.(TCI), the leading provider of property tax compliance software to corporate tax departments, with more than 300 installed software systems, today announced the release of Property Tax Management System (PTMS) version 2.0, a comprehensive and innovative software product that completely automates personal and real property tax compliance for all taxing jurisdictions. Prominent enhancements in PTMS version 2.0 include increased Tax Calendar functionality, enhanced asset sorting and editing capabilities and new audit trail features.

The PTMS Tax Calendar has been greatly enhanced in version 2.0. Users may choose a specific date range to view pending deadlines and can print various reports based upon their search. While critical due dates and assessment dates have always been provided in the PTMS Tax Calendar, critical tasks processed in PTMS such as the date a tax return is filed or a tax bill is processed, now are automatically added to the Tax Calendar.

One of the main advantages of PTMS is the ability to view and edit asset information virtually any way the user might desire. PTMS version 2.0 provides each user with new tools to view specific assets. The new “Find” feature searches for user-defined text and immediately jumps to the appropriate asset record, allowing a user to view any asset based upon any selection criteria. Sorting within the asset data grid is now as simple as double-clicking on a column heading to sort within that column. Another major PTMS enhancement for modifying asset data is the ability to apply equations to exclusion and addition fields to make percentage adjustments to cost.

To minimize its tax burden, a tax department will often modify existing fixed asset data to more accurately reflect the taxable value of those assets. It is important that these companies be able to track modifications to asset records in the event of an audit. PTMS has always tracked who modified asset data and when it was changed. PTMS version 2.0 now allows a user to view both the original G/L Account Number that was downloaded from the fixed asset system, as well as the new changed G/L Account Number. This automatic tracking ability ensures that all asset data ties back to the client’s fixed asset system for audit purposes.

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 annual PTMS User Conference, the Customer Zone on this web site and normal day-to-day interaction with our clients. TCI’s 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.

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