Open Systems has released a new compliance update that includes the following updates to Fixed Assets tables, formulas, and forms:
- Updated auto and van MACRS depreciation tables
- Handling 100% special allowance as required by IRS Form 4562
- Wording changes to IRS Form 4562
- Increased default maximum and threshold limits to IRS Form 4562
The compliance update also includes the updates previously released for Payroll and Accounts Payable. See the Compliance Advisory document for information about those updates. If you do not use Fixed Assets and have applied all previous updates, you do not need to apply this update.
Installing Updates
To install this update, you must be using OSAS 7.6, 7.5x, or 7.03, and be a current subscriber to the OSAS Software Maintenance program.
If you are currently subscribed to the OSAS Software Maintenance program, please contact us at 815-965-9800 to learn how to install these updates.
If you are not currently subscribed to an OSAS Software Maintenance program, discover the benefits of joining the program by giving us a call at 815-965-9800