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December 29, 2006 - ICLUB News
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ICLUB Insider December 29, 2006


Tax Printers -- Released and Shipping

Both the Federal and State Tax Printers are now available for fiscal year 2006 for Club Accounting 3.1 and Club Accounting Online.

Club Accounting 3.1 software can be purchased as either a download or as a pressed CD -- now shipping.

Club Accounting Online Tax Printers will be accessible under the Taxes tab on your website following purchase.

Remember: the Tax Printer software you download today will still use "Draft" forms -- until final forms are released by the IRS and the various state tax agencies, all Tax Printers will only generate these preliminary forms. They cannot be used to prepare your final returns; any forms submitted using draft forms will be rejected by the IRS or state agency.

Final forms may not be available until February 2007 (and perhaps later in some instances). ICLUBcentral makes every effort to release final forms as soon as possible; the release of draft forms allows you to ensure that your software installation is successful and that your data has been entered properly prior to generation of final forms. (This is just one more reason why you should order your Club Tax Printers early!)

When final forms are released, ICLUBcentral will release updates to the Club Tax Printer software that will be delivered to your computer via the auto-updater functionality that is built into the programs. As long as you are connected to the Internet (and your firewall allows the Club Tax Printer to communicate with the ICLUBcentral web site), the update will be downloaded and installed automatically for you.

Close Your Books -- End of Year Procedures
by Daniel R. Abraham, Director of Technical Support

Strictly speaking, "closing the books" is a misnomer. You don't have to put everything on hold while you finish out last year's transactions. You can continue to record next year's transactions while finishing this year's transactions in preparation for filing the partnership tax return.

A few warnings and reminders to start:

  • If you are still using Club Accounting versions 1 or 2, you must move to Club Accounting 3.1 (CA 3.1) or Club Accounting Online (CAO) to run your taxes.
  • Do not enter ANY transactions on 12/31 except the valuation. No deposits, no sales...nothing. If the broker or bank say the transaction is on the 31st, move it to the 30th in the software.
  • If you can't make it on time, you can ask the IRS for an extension. Visit for more information. The partnership return is due on April 15th.
  • Want to know how Club Accounting determines how to fill out the form? Check our support page.

You will not be able to finish processing the year's transactions until...(Continue reading at

Happy New Year From ICLUBcentral

From everyone at ICLUBcentral, we wish you and yours a happy, safe, and profitable 2007. We'll be here to guide you through Tax Season, and you can expect us to continue to provide you with the best available tools to help you become a successful fundamental investor. Happy New Year!

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© Copyright 2006 ICLUBcentral Inc. All rights reserved.

Some ICLUBcentral products use the investing methodologies of BetterInvesting, a national nonprofit organization dedicated to investor education. BetterInvesting assumes no liability or obligations with respect to the investment education information or other content presented in the ICLUB Insider. For more information on BetterInvesting, please visit

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