Tag Archives: Accounting

Another Peachtree tip for year-end accounting

When moving to the beginning of your tax year in Peachtree Accounting, be sure to adjust for the new state unemployment rate.

This will insure the accuracy of Peachtree’s calculation of the amount you’ll pay at the end of the first quarter.

 

year end tips for peachtree accounting

Make these adjustments at the beginning of your tax year

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How to safely close the year in Peachtree Accounting

 For our clients using Peachtree Accounting:

If you own one of the Premium versions of Peachtree Accounting, you’ll get the following screen during the year end close at period 24.

Close year-end in Peachtree

Check this before closing

 

By checking the Archive Company box, you’ll cause the system to create an extra company and preserve the ability to view all reports of prior year data.

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Why most clients are in violation of their Quickbooks license and don’t even realize it!

Quickbooks symbol As if the IRS wasn’t enough to deal with, now Quickbooks owners have another hidden trap that Intuit is just waiting for you to stumble into. The trap centers around the wording in the licensing agreement. Simply put, it’s not a per user license like most multi-user software. Instead, it’s a per person license.
Let me illustrate with the example that an Intuit rep gave me.
  • Business owner buys QB and installs on one computer belonging to the bookkeeper.
  • One Bookkeeper does all accounting work during the normal course of business (on one computer) and leaves at 5:00PM
  • At 5:15 business owner needs a deposit report for the day and goes to bookkeeper’s computer and runs the report
  • Business is in violation of the software agreement and is required to buy another Quickbooks license.

Same result if a salesman grabs a customer report once a year.
Intuit has expressed the desire to pursue legal action on the above real-life example.
Customer abuse? You be the judge!

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