Asset Management Tax Module

We have a tax book for Depreciation that we manage using BNA tax software. We purchased this because when we implemented Lawson AM in 2005 the software didn't have tax updates available. We are now needing to either upgrade BNA or select something else. I'm curious what other companies are utilizing for their tax depreciation needs? We would love to leverage Lawson and not need to manually update another product to keep AM and tax book depreciation in sync. Has anyone been successful automating this process?

Looking for suggestions. Thanks!

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Comments

tdwaters

We use the Lawson AM module and have a tax book set up and we use it. The only major hurdle is at year-end. We cannot close the method used for book purposes until everything in the tax book is also correct. We normally hold open all depreciation for at least 2 month after year-end for this reason. To balance for our year-end with the book group, we have to make the normal AM entry manually and run AM280 with preliminary close yes. Tammy Waters

unknown

We use Lawson tax books but we have to manually add new tax methods. We review method changes with our tax department and make any adjustments in December before we close the month and year. I have not been able to keep periods open as Tammy suggests, Lawson does not allow us to calculate January until we close the prior year. We are on 4/4/5 close rather than calendar month and this could be the reason why.

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