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I know that PS AM can handle different tax depreciation methods and ‘books’, but we have not gone too crazy with it at our company. Our Tax Director has been told by one of the audit companies that many PS customers do not use PS AM module to account for different tax depreciation methods and tax books, and that they go with a 3rd party or internal custom solutions to account for tax basis. This audit company is telling our Tax Director that many PS customers go with their own custom solution since AM module is too complicated to configure, not flexible enough and all reports have to be custom developed. Wanting to find out what other PS customers do. Do you do all tax basis accounting and depreciation in PS AM for assets or do you have a custom external/internal solution?
Appreciate your response to this.