default information.

Default information.

After maintaining customers/prospects we will learn how to change the default information of our customers.

We will go to default information from the maintain menu and select customers from the sub menu.

As show in the below picture:

After clicking on customers the following window will appear:

In the above picture we are provided by 5 tabs.

The first tab is of “payment terms” and in it we are given 5 different types of payment methods from which we have to select anyone. If we click on the first option of “C.O.D” then we will only be able to edit the credit limit amount because it means that we will simply get cash on delivery therefore no need entering due date discount amount if we get before date etc.

If we select the prepaid option it means that we will be getting the payment before delivery of goods.

If we select the third option which is “due in number of days” as selected in the picture then we are able to change our these options “net due in, discount in, discount%, credit limit” . while this option means that we  will get payment after few days.

The fourth option we will select when we will be getting payment in the coming month.

The last option we will select if we will be getting payment at end of month.

The second tab is of “account aging” in this tab we have to select the age of account according to invoice date or due date. We can change the aging categories according to our requirement.

The above tab is of “custom fields” this field is used to enter the extra data which could be of anything relevant. We can change the field labels if we want any other data.

The next tab is of “finance charges” if we select it the following window will appear:

In this tab we had to enter data of finance portion. If we are going to charge extra to our customer due to some reasons like if our customer is not paying payment then he would be charged more.

The last tab is of pay methods and after clicking on it this window will appear:

In this field we can enter the kinds of payment methods that our company accepts and we can enter up to ten different methods.

Quotes and Sales Order

QUOTES AND SALES ORDER

Quotes means the quotation that we are offering for sales to our customer. For opening sales quotations we had to click on task menu and then select quotes and sale order. as shown below:

After clicking on it the following window will appear:

Firstly we will enter customer ID, select the ID that you want to made quotes

Then at the right side of the window there is date that shows the date of that day at which you made quotes, And there is also quote no and then give any quote number.

There is columns of quantity, item, description, unit price and total

Quantity represents the num of item, Item tells us about the item that we are going to make an offer, Description tells us about the details of the product or item, Unit price that shows the per item price.

Converting quotes into sales order

After making quotes if the customer is willing to purchase then there is an option of converting quotes into sales order

From the menu select the option of   “CONVERTER” click that option and the window that is open as following

select "sales order" then click on ok.

maintain inventory items.

Maintain inventory items.

For maintaining inventory items we will have to follow the following steps which are written over here. After opening the software, we click on “Maintain” and will arise on the following window.

From here we click on “Inventory items…” in order to enter our inventory items in the software. On clicking “Inventory items…” following window will appear:

This is the inventory item window where we will add the inventory items. In the “Item ID” we will write the ID of the inventory item. Every inventory item must posses a unique and separate ID than the other inventory item.

Then in “Description” we write the general description of that inventory item. It can be the title of that inventory or anything as per the situation.

After this we associate the Sales account with “GL Sales acct” by entering the ID of the sales account in this portion of “GL Sales acct”. After this we associate the Inventory account with “GL Inventory Acct” by entering the ID of the inventory account in this portion of “GL Inventory Acct”. After this we associate the Cost of sales account with “GL Cost of Sales Acct” by entering the ID of the Cost of Sales account in this portion of “GL Cost of Sales Acct”.

These five basic things are important to create any inventory item and after this we can save the item by clicking on saves. We also have many different options available in this window other than these five important items. Lets discuss them now.

On clicking “Description” we get two options, for sales and for purchases. If we select the option “for sales” then it means that the inventory item created is for sale while if we select “for purchase” then it means that the inventory item created is for purchase purpose.

 “Item class” option is the most important option in this window. By clicking on this item class different classes for inventory items appears on the screen. If we are opening a retail store and our business is only concerned with purchasing and selling of goods then we will select the “Stock item” from this class but if we are a manufacturing firm then we will use “assembly” as well as “Stock item”.

The second tab is of custom fields which is show below:

In this window we can enter the things which we want to write extra for our inventory for eg: special note etc

The next tab is of “history” which is shown below:

In this tab we can simply maintain the history of the inventory items as the name of tabs show.

maintain global options

Maintain global options

Firstly we will click on options and then select “global options”.

The following window will appear:

In this window we are having 4 tabs, we will firstly check about first tab “accounting”.

Over here in decimal entry “automatic” means that we don’t need to put decimal it will appear automatically. For example, if we type 2 and press Enter, Peachtree will display 2.00 in the field.

If we want to hide general ledger account in any of task window we will check the box on accounting tab. Like if we want to hide account receivable in quotes, sales order, invoicing, credit memos and receipts window we will check the box as did in the figure.

Similarly in other options you may select any of the options which you want like to display a warning when you try to exit a new or modified record that has not been saved, select the 1st option in other options… or to hide inactive records select this option in accounting tab.

The next tab which is General is as follows:

In general tab Improve performance is used to increase the performance by checking boxes like if you want to print faster select the 1st option in improve performance or if you select the 2nd option it will speed up the display in inventory look up items avoiding to show and calculate inventory on hand of each item.

 Line item entry displays is used to determine whether one or two lines will appear in the list distribution box of various task windows,

Smart data entry is used to enable lookup lists to instantly appear and anticipate what you want to enter. Like if you want to drop down the list when cursor is placed in a field or one letter is written then automatically list will open select “Drop-down list displays automatically” option.

 In Color scheme you can choose any of five colors which will change the color of window and all boxes which displayed on this software.

Now the next tab is Peachtree partners which are shown below:

This tab is used for the security level you want to choose like low, medium or high.

The 4th and last tab is spelling tab which is used to avoid spellings mistakes in Peachtree software when you entering data.

In this tab we can also select different dictionary, and some other general options are also provided. After selecting according to the required data we will click on ok.

how to record entries in general journal

How to record entries in general journal.

Firstly we will click on task and then we will select “general journal entries”

The following window will appear:

1.       Then Firstly in this we will enter the date of which period you want to enter the general journal entries in Date field.

2.       Enter the reference number in Reference field.

3.       Enter the GL Account for which you want to enter the journal entries, and the general ledger account can be added in chart of accounts.

4.       Enter the description of journal entry in Description field.

5.       Enter the amount from which you want to debit the entry in Debit field.

6.       Enter the amount from which you want to credit the entry in Credit field.

7.       And in the end click on save to save.

vendor credit memos.

Vendor credit memos

After recording purchases we will now learn how to record purchases returns.

We will select “vendor credit memos” from the task menu.

We will select “vendor credit memos” from the above picture.

After selecting on it the following window will appear:

Mainly this window is used to record the purchases returns.

We will firstly select the vendor ID. Then we will input the date on which we are going to make this purchases return order.

After selecting vendor the following changes will appear in the same window:

In this window we will select the invoice number of which we are going to make purchases return.

After selecting the invoice the following changes will appear:

In this window simply we have to write in the “returned” column the quantity of goods which we are going to return. For example we are going to return 2 items then following changes will appear:

The amounts  of the units will appear.

 Now save the information.

Payments of purchase order.

If we had prepared purchase orders then next step is about how to prepare our payments. So for it we will select PAYMENTS from the task menu. As shown in below picture:

After clicking on “payments” this will appear:

In this we had to select that we are paying our payments by cash or cash in bank as shown in below picture:

After selecting anyone the following window will appear if we click on ok:

In this window we will firstly select the vendor to which we are going to make payments.

As in the above picture I am going to select “Samsung”. After selecting the vendor the following changes will appear which is shown in the below picture:

We had to enter the check number, date, cash account in the above window. After it we had to click on the “check box” under pay column.

If we click it then it will show the amount after subtracting discount amount if we had paid within the discount period.

If we pay after the discount period then our date should be changed.

For example if we are receiving the discount then if we will click on check box the following g changes will appear in the above window as shown in the below picture:

Over here the amount paid which is written is after subtracting discount which means that we had received discount.

And we also had to select the discount account which is given at the end of the window and if discount account is not made then we will make it.

If we are not receiving any discount then the discount column would be blank and amount paid would be full which we had to pay.

After clicking on save it will simply save the payment amount and if we had received discount and not entered the discount account and had clicked on save then the following window of showing error will appear:

This is showing that we had not entered the discount account or we had entered invalid discount account.

So now we will make discount account if we had not made it before.

Otherwise if we had entered correct data of payments and clicked on “save” then following window will appear:

If this window has appeared it means that we had entered data for payments successfully. 

how to save/prepare purchase orders.

How to prepare purchase orders

First of all for preparing purchase order is necessary that vendors and chart of accounts etc are already made.

So for preparing purchase orders we will select “PURCHASE ORDERS” from the task menu as shown in the below picture:

After selecting purchase orders the following window will appear:

In this window we will firstly select the vendor from the vendor id if vendors are already made. If the vendors are not made we will then make vendors from maintain menu after selecting vendors as it is explained in earlier posts.

·         Assume that vendors are made, we will select the vendor in the vendor id bar

·         We can change the date according to our requirement.

·         We will insert P.O no very carefully because due to it we will be able to know that we had issued purchase order and it is used to differentiate from other purchase orders.

·         In the quantity column we will write the total number of units required.

·         In the received column it will show the number of units that we had received. We cant write number of unit received in this window.

·         We will select the item or write the item in the item column.

·         In description we will simply write the description of goods for which we are issuing purchase order.

·         g.l account will be whatever our account payable account number.

After inserting this information we will then insert the information in the window shown below after saving this.

This window is appeared after clicking on “purchases/receive inventory” in the task menu.

In this window also we will firstly select the vendor.

Then we will write the date and over here the invoice no is that which we had received from where we had purchased raw material.

After selecting the vendor the following changes will appear in the current window:

In the window we will select purchase order which we had made in the previous window as shown in the below picture:

 
in this picture I had only made 1 purchase order that is 0002 and I will select it, after clicking on it the following changes will appear:

The details which we had entered in the previous window has appeared and now over here we can write the number of units received.

For example we want 100 units and received 50 units then following changes will appear:

Over here in the amount column the amount which is shown will be of that goods which we had received.

This was all the necessary information required to make purchase order.

How to maintain vendor accounts:

Firstly we open Peach tree software, and open an existing company. After open a company we click on the maintain option and select the vendor option.

When we select the vendor option, the following window will appear:

HEADER FIELD:

                                    Firstly we fill a header field in which the following items:

1: vendor id

2: name of vendor.

Like as:

GENERAL TAB:

In general tab we enter the contact of a vendor, account#, address, country, vendor type, telephone#, e-mail and a website. Like as:

PURCHASE DEFAULT:

                                                     In purchase default we enter the following items:

Purchase representative

Purchase account

Tax id#

Terms

And select one option from delivery option. In delivery option two methods are defined:

Paper form

E-mail

And we select an option paper form. as shown in the below picture:

CUSTOMER FIELD:

In the customer field, we fill the following column

Office manger

Account representative

Special note.

After the customer field we enter beginning balances as shown in the below picture:

HISTORY:

                               When we enter the beginning balance the history will appear automatically