Once Is Enough

At Lucasys, we understand that your time is one of your most valuable resources. That’s why we’ve built our systems to ensure that the work you’ve done in prior periods is preserved—even as new data is added or processes are updated.

The Lucasys software is designed to seamlessly integrate new information, such as additional budget data or actuals for new months, without overwriting or losing prior period adjustments. Using Incremental and Merge import options, you can update your data while retaining all topside or manual adjustments from earlier periods.

Vadim LantukhFebruary 12, 2025Lucasystax depreciation, deferred tax, tax fixed assets, lucasys, saas

Simplified Implementation and Effortless Data Conversion

Implementing new software systems is a challenging task for rate-regulated utilities given the scope and complexity of their operations. The importance of seamless implementation and accurate data conversion cannot be overstated. Lucasys Depreciation was designed to address the unique challenges faced by rate-regulated utilities and provides an effortless implementation process.

Lucasys Depreciation Simplifies Fixed Assets with User-Friendly Controls

Depreciation tracking can be a challenging task for rate-regulated utilities that have to comply with strict accounting standards, so Lucasys Depreciation was specifically designed to make the process more intuitive and user-friendly. One of the key benefits of Lucasys Depreciation is its incredible ease of use. New members of a team can immediately access advanced tools without the need for extensive training, allowing accounting and tax departments to quickly adapt to changes in resource planning. Whether you’re a seasoned accountant or tax professional, or someone just starting out in the field, Lucasys Depreciation can simplify the process of tracking depreciation and make your work more efficient.

Lucasys Depreciation Simplifies Fixed Asset Tracking for Utilities

Lucasys Depreciation was designed to streamline depreciation for utilities, with advanced reporting and dashboard functionality that make it easier for financial and tax teams to stay compliant while saving time and effort. Calculating and tracking fixed asset depreciation can be a complicated and time-consuming process, especially for rate-regulated utilities. Large quantities of assets and strict accounting regulations add complexity to what should be a straight-forward process. Whether you're a finance professional, tax professional, or someone interested in learning more about how technology can simplify complex financial processes, Lucasys Depreciation has the answers.

Unmatched Reliability: Lucasys Sets the Standard for Industry Expertise and Technical Support

Lucasys provides peerless expertise in managing deferred tax assets for rate-regulated utilities and works closely with its customers to incorporate their feedback into product development.

Proposal to Increase the Corporate Tax Rate... Again!

In late March 2023, President Biden proposed a federal budget for fiscal year 2024 that will increase government spending in new infrastructure, education, healthcare, and climate change initiatives. To fund the investments, the Biden administration has proposed several tax reforms that will have important implications for corporations. Specifically, the proposed increase in the corporate income tax rate from 21% to 28% will have a significant impact on rate-regulated utilities