Welcome from Jim Vogt, Accountant and Peachtree Certified Consultant
Welcome to the current issue of our Peachtree accounting newsletter. Thanks for joining us today. In this issue learn about: Phasing out of Peachtree 2006, remote training sessions with Capitol Data Accounting, printing W2's before the end of the year, and cashed versus accrued accounting.

Peachtree News
Peachtree release 2009 has been available since last summer. Support for Peachtree 2006 is being discontinued as of December 31, 2008. This means that if you call Peachtree for help with Peachtree 2006 after 12/31/08, they will say that they are unfortunately unable to help. Also, the Peachtree payroll tax update service called "Simple Tax" will not be available for users of Peachtree 2006.

If you have Peachtree 2006, we can help in the following ways:

1. We can sell you the upgrade to Peachtree 2009 at a discount. Please send us an e-mail for current pricing.

2. If you prefer to stay with Peachtree 2006, we will continue to provide support, so call us with technical questions or training on that version as the need arises.

3. If you prefer to stay with Peachtree 2006 and are running payroll, we can provide you with help setting up your tax tables and formulas manually.

Capitol Data Accounting News
We've settled on LogMeIn.com Rescue for remote support and training sessions. LogMeIn Rescue makes it very easy for us to work with you on your computer - while we are located in our office. This is how it works.

1. Call or e-mail us and we'll set up a time that is convenient for you.

2. When you are ready for your session, we'll call you on the phone and give you a special six digit code which you can enter at the LogMeIn.com site.

3. By entering this code at the LogMeIn.com site, you are inviting me to log into you computer and start a remote session. Once the remote session is initiated, as we talk on the phone, we'll both be able to control and view your computer screen. We can take turns using your mouse and keyboard.

Please contact us if you'd like to set up a free trial session to you can experience LogMeIn Rescue first hand.

Peachtree Tips

Peachtree 2009 prints W-2's directly onto blank paper. This is part of what they call "Print 'n Sign Tax Forms". This means there is no need to purchase W-2 forms when using the Peachtree PR Tax Update Service called Peachtree Simple Payroll.

With Peachtree, you can print W-2's at any time during the year - you don't have to wait until year end. So save yourself the stress of wondering if W-2's will print ok come January, do a test printing before the end of the year!

Peachtree 2009 allows a cash based company to print an aged receivable that shows the open invoices. - This is a big improvement over earlier versions of Peachtree where this was not possible - in the past, cash based companies could not record open invoices or print aged receivables.

Accounting Tips

A cash based company is one that reports income to the IRS based on money actually received from customers. If a customer's invoice has not been paid, then this is not considered as income.

Similarly, with a cash based company, expenses are not reported to the IRS until they are actually paid. This is why many companies work hard to get all their bills paid before the end of the year. This reduces their profit for the year, and therefore reduces their taxes for the year.

Conversely, if a company is not cash based, it means they are using accrued accounting. This means they report expenses to the IRS even if no money has changed hands. An invoice sent to a customer is considered as income even if it has not been paid.

Likewise, with accrued accounting, an invoice received from a vendor is considered as an expense as soon as it arrives.

Specials

Schedule a one on one remote training for Peachtree or Crystal Reports for only $65.00 for a one hour session. Valid until January 31, 2009.

click here to contact us.