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Fixed assets and GoSystem Tax integration

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 for tax year 2011 and after.
  • 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 now has multiple activities for Page 1. When importing into GoSystem Tax, it will import as a single activity for Page 1 as prior years.

This article applies to:

  • Product: GoSystem Tax RS, Fixed Assets CS
  • Subject: Import
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