Fixed Assets CS and GoSystem Tax integration
Manage by using data entry, import, and export, up to 65,000 assets seamlessly with GoSystem Tax. While it's built for tax compliance, we know many firms use specialized software for fixed asset management. This often means juggling 2 systems, which can lead to errors and inefficiencies. That's why we offer integration with Fixed Assets CS. This solution connects your fixed asset management with tax compliance, boosting flexibility and productivity. Say goodbye to manual data entry and hello to streamlined workflows.
What we import
The integration between GoSystem Tax and Fixed Assets CS enables the import of:
- Fixed asset data into individual, partnership, and corporate returns.
- Summary data (non-detail) for federal Form 4562.
- Detail information for Listed Property and §179 Expense and Amortization.
- State depreciation information without bonus election data.
The following is a table representing the previous information:
Return Type | Federal | §179 | Listed Property | Luxury Vehicle Limitation | Current Year Non-Vehicle |
|---|---|---|---|---|---|
990 | N/A | N/A | N/A | N/A | N/A |
1040 | Summary | Detail | Detail | N/A | N/A |
1041 | N/A | N/A | N/A | N/A | N/A |
1065 | Summary | Detail | Detail | N/A | N/A |
1120 | Summary | Detail | Detail | N/A | N/A |
Other items
We currently don't import current year non-vehicle data, nor do we handle luxury limitations.
The 1065 Ultratax program has multiple activities for Page 1. When importing into GoSystem Tax, it will import as a single activity for Page 1.
note
Fixed Assets CS and Corresponding GoSystem Tax Forms contains a detail of the activities in Fixed Assets CS and corresponding forms in GoSystem Tax to which data is transferred.
