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Set up for a new company in Peachtree

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  • 1. MUHAMMAD AHMED SHAHID L3F09BCOM2513 Table of ContentsSET UP FOR A NEW COMPANY.................................................................................................................. 3HOW TO OPEN AN EXISTING COMPANY................................................................................................. 17ENTERING CHART OF ACCOUNTS IN THE SOFTWARE............................................................................. 23ENTERING THE BEGINNING BALANCES OF THE ACCOUNTS IN CHART OF ACCOUNTS .......................... 27HOW TO CREATE CUSTOMER RECORDS IN PEACHTREE ACCOUNTING SOFTWARE............................... 29HOW TO CREATE VENDOR RECORDS IN PEACHTREE ACCOUNTING SOFTWARE ................................... 32ENTERING BEGINNING BALANCES OF THE CUSTOMERS (IF ANY) .......................................................... 35ENTERING BEGINNING BALANCES OF THE VENDORS (IF ANY) ............................................................... 36HOW TO EDIT CUSTOMER WINDOW ITEMS ........................................................................................... 37 PAYMENT TERMS: ............................................................................................................................... 38 ACCOUNT AGING: ............................................................................................................................... 41 CUSTOM FIELDS: ................................................................................................................................. 42 FINANCE CHARGES: ............................................................................................................................. 42 PAY METHODS:.................................................................................................................................... 43MAINTAINING INVENTORY ACCOUNT IN THE SOFTWARE ..................................................................... 43 AN ILLUSTRATION OF MAINTAING INVENTORY ACCOUNT IN THE SOFTWARE: ................................ 46ENTERING BEGINNING BALANCES OF INVENTORY ................................................................................. 49HOW TO MAKE A PURCHASE ORDER ...................................................................................................... 52HOW TO RECORD RECEIVING OF INVENTORY ........................................................................................ 55 RECEIVING INVENTORY WITHOUT ISSUING PURCHASE ORDER: ........................................................ 58 RECEIVING SOME INVENTORY AFTER ISSUING & WITHOUT ISSUING PURCHASE ORDER: ................ 60HOW TO MAKE A QUOTATION IN PEACHTREE ACCOUNTING SOFTWARE............................................. 63HOW TO MAKE A SALE ORER IN PEACHTREE ACCOUNTING SOFTWARE ............................................... 65HOW TO MAKE A SALE INVOICE IN PEACHTREE ACCOUNTING SOFTWARE ........................................... 70HOW TO RECEIVE THE CASH IN THE SOFTWARE .................................................................................... 70HOW TO RECORD SALES RETURN IN THE SOFTWARE ............................................................................ 72HOW TO RECORD SALES RETURN IN THE SOFTWARE ............................................................................ 76HOW TO RECORD A JOURNAL ENTRY IN PEACHTREE SOFTWARE .......................................................... 80HOW TO USE GLOBAL OPTION IN PEACHTREE SOFTWARE .................................................................... 81
  • 2. MUHAMMAD AHMED SHAHID L3F09BCOM2513HOW TO SET SECURITY CODE FOR PEACHTREE USERS........................................................................... 84
  • 3. MUHAMMAD AHMED SHAHID L3F09BCOM2513 SET UP FOR A NEW COMPANY Following are the steps involved in order to create a new company using Peachtree accountingsoftware 2004: From this screen click on “Set up a new company”. Following is a wizard screen which will beappeared on the screen by clicking on “Set up a new company”. This wizard scheme will provide us with five options which are required to be entered in thesoftware in order to complete our steps involved in the creation of the company. First we press the“Next” button and the following “company information” wizard scheme appears on the screen.
  • 4. MUHAMMAD AHMED SHAHID L3F09BCOM2513 After filling the above shown wizard, we click the “Next” button in order to continue our stepstowards the creation of our company in Peachtree accounting software 2004. Then this wizard scheme of “Chart of Accounts” will be appeared after filling all the requiredinformation in “Company information” wizard Scheme. From this wizard of “Chart of Accounts”, we willclick on “Build your own company”. Following wizard scheme of “Accounting Method” will be appearedon the screen. From this wizard scheme of “Accounting Method”, we select “Accrual” and then click on “Next”button to continue our steps toward creation of a new company in Peachtree accounting software 2004.After following this step, we get the following wizard screen of “Posting Method” on our desktop screen.
  • 5. MUHAMMAD AHMED SHAHID L3F09BCOM2513 From this wizard scheme of “Posting Method”, we select “Real Time” option and click on “Next”button to proceed towards the creation of a new company on Peachtree Accounting Software 2004. Weget the Following Screen of “Accounting Periods” on implementing this procedure. From this wizard scheme of “Accounting Periods”, we select the option of “12 monthlyaccounting periods” option as per our requirement and then click on “Next” Button to proceed. Afterfollowing this procedure, we reach to the following “Monthly Accounting Periods” Wizard scheme. From this Wizard scheme of “Monthly Accounting Periods”, we select “January” as Month and“2012” as year for our requirement, “When do you want your fiscal year to start?”. Then we select“February” as month and “2012” as year for our requirement of “What is the first month you will beentering your data?”. After this we select “2012” in our requirement of “What is the first year you willbe entering payroll?”. After filling this we click the “Next” button and get the following screen on ourdesktop screen.
  • 6. MUHAMMAD AHMED SHAHID L3F09BCOM2513 This is the last wizard scheme involved in the creation of our new company in Peachtreeaccounting software 2004. In this wizard, we press the “Finish “button after which a new company startsits creation and with in 10 seconds the Peachtree software creates a new company for us. We have five different options available in wizard scheme “Chart of accounts”. If we want toconvert a company data from another software into Peachtree software then we select the second lastoption which is “Convert a company from another accounting program”, the following wizard scheme of“Accounting Method” appears on the screen. The remaining steps for the conversion of a company fromanother software will be implemented in the same manner as implemented for “Build your owncompany”. From this wizard scheme of “Accounting Method”, we select “Accrual” and then click on “Next”button to continue our steps toward creation of a new company in Peachtree accounting software 2004.After following this step, we get the following wizard screen of “Posting Method” on our desktop screen.
  • 7. MUHAMMAD AHMED SHAHID L3F09BCOM2513 From this wizard scheme of “Posting Method”, we select “Real Time” option and click on “Next”button to proceed towards the creation of a new company on Peachtree Accounting Software 2004. Weget the Following Screen of “Accounting Periods” on implementing this procedure. From this wizard scheme of “Accounting Periods”, we select the option of “12 monthlyaccounting periods” option as per our requirement and then click on “Next” Button to proceed. Afterfollowing this procedure, we reach to the following “Monthly Accounting Periods” Wizard scheme. From this Wizard scheme of “Monthly Accounting Periods”, we select “January” as Month and“2012” as year for our requirement, “When do you want your fiscal year to start?”. Then we select“February” as month and “2012” as year for our requirement of “What is the first month you will beentering your data?”. After this we select “2012” in our requirement of “What is the first year you willbe entering payroll?”. After filling this we click the “Next” button and get the following screen on ourdesktop screen.
  • 8. MUHAMMAD AHMED SHAHID L3F09BCOM2513 This is the last wizard scheme involved in the creation of our new company in Peachtreeaccounting software 2004. In this wizard, we press the “Finish “button after which a new company startsits creation and with in 10 seconds the Peachtree software creates a new company for us. As we have five different options available in wizard scheme “Chart of accounts”. If we want tocopy settings of an already existed company in Peachtree software then we select the third last optionwhich is “Copy settings from an existing Peachtree Accounting company”, the following wizard schemeof “Accounting Method” appears on the screen. The remaining steps for Copy settings from an existingPeachtree Accounting company will be implemented in the same manner as implemented for “Buildyour own company”. From this wizard of “chart of accounts” we first select the available company in “AvailablePeachtree companies” window and after this we press “View chart of accounts” and get the list ofaccounts for that company in the window above “View chart of accounts”. From here we select the
  • 9. MUHAMMAD AHMED SHAHID L3F09BCOM2513accounts which we want to add in our new company and press the “Next” Button. After this the rest ofthe procedure remains the same for creation of our company. From this new wizard scheme of “Copy Company information”, we can select different optionswhich we require to be copied from the existing available companies in the Peachtree software. Weselect the options required to be copied and then press the “Next” Button in order to continue theformation of a new company. On pressing “Next” we arrive on to the following wizard scheme. From this wizard scheme of “Accounting Method”, we select “Accrual” and then click on “Next”button to continue our steps toward creation of a new company in Peachtree accounting software 2004.After following this step, we get the following wizard screen of “Posting Method” on our desktop screen. From this wizard scheme of “Posting Method”, we select “Real Time” option and click on “Next”button to proceed towards the creation of a new company on Peachtree Accounting Software 2004. Weget the Following Screen of “Congratulations” on implementing this procedure.
  • 10. MUHAMMAD AHMED SHAHID L3F09BCOM2513 This is the last wizard scheme involved in the creation of our new company in Peachtreeaccounting software 2004. In this wizard, we press the “Finish “button after which a new company startsits creation and within 10 seconds the Peachtree software creates a new company for us. As we have five different options available in wizard scheme “Chart of accounts”. If we want toset up a new company using an extensive chart of accounts from one of many sample companies inPeachtree software then we select the second option from the beginning which is “Set up a newcompany using an extensive chart of accounts from one of many sample companies”, and click on the“Next” button and the following wizard scheme of “Chart of Accounts” appears on the screen. Theremaining steps for settings up a new company using an extensive chart of accounts from one of manysample companies from an existing Peachtree Accounting company will be implemented in the samemanner as implemented for “Build your own company”.
  • 11. MUHAMMAD AHMED SHAHID L3F09BCOM2513 From this wizard scheme of “Chart of accounts “we can select the industry or the companyrelated to our company. If we want to form a new store then we will be selecting “Retail Company” fromthe “Available chart of accounts” option. If we wish to see the list of accounts available in the retailcompany chart of accounts then we can do this simply by clicking on “retail company” option and thenclicking on “View chart of Accounts” option. By doing this the following screen of the list of chart ofaccounts for a retail company will be displayed on our screen. From this window we can scroll down and have a look on the accounts listed in the chart ofaccounts of the retail company. From these accounts we can add the accounts in our new company.Now we will close this window and press the “Next” button in order to get to the next wizard scheme“Accounting Method”. From this wizard scheme of “Accounting Method”, we select “Accrual” and then click on “Next”button to continue our steps toward creation of a new company in Peachtree accounting software 2004.After following this step, we get the following wizard screen of “Posting Method” on our desktop screen.
  • 12. MUHAMMAD AHMED SHAHID L3F09BCOM2513 From this wizard scheme of “Posting Method”, we select “Real Time” option and click on “Next”button to proceed towards the creation of a new company on Peachtree Accounting Software 2004. Weget the Following Screen of “Accounting Periods” on implementing this procedure. From this wizard scheme of “Accounting Periods”, we select the option of “12 monthlyaccounting periods” option as per our requirement and then click on “Next” Button to proceed. Afterfollowing this procedure, we reach to the following “Monthly Accounting Periods” Wizard scheme. From this Wizard scheme of “Monthly Accounting Periods”, we select “January” as Month and“2012” as year for our requirement, “When do you want your fiscal year to start?”. Then we select“February” as month and “2012” as year for our requirement of “What is the first month you will beentering your data?”. After this we select “2012” in our requirement of “What is the first year you willbe entering payroll?”. After filling this we click the “Next” button and get the following screen on ourdesktop screen.
  • 13. MUHAMMAD AHMED SHAHID L3F09BCOM2513 This “Defaults “wizard scheme displays the default settings made by the Peachtree accountingsoftware for our new company which we can change after creation of the company. From this we pressthe “Next” button and get to the following screen of “Congratulation”. This is the last wizard scheme involved in the creation of our new company in Peachtreeaccounting software 2004. In this wizard, we press the “Finish “button after which a new company startsits creation and within 10 seconds the Peachtree software creates a new company for us. As we have left only with the procedure of creating a company from the first option so we aregoing to create a new company in Peachtree accounting software 2004 using this first option of “Set upa new Retail, Service, Construction, Manufacturing, or Distribution company, using a specified chart ofaccounts”. From this wizard scheme of “chart of accounts”, now we select the first option which is “Set
  • 14. MUHAMMAD AHMED SHAHID L3F09BCOM2513up a new Retail, service, Construction, Manufacturing or Distribution company using a simplified chart ofaccounts”. By using this option we will be able to get the simplified sample chart of accounts alreadyprepared in the Peachtree software for different companies. Press the “Next” button and arrive to thefollowing wizard scheme on the desktop screen. In this new wizard we have the “Available Chart of accounts” for a Retail company, ServiceCompany, Construction Company, Manufacturing Company and Distribution Company. We can selectany company as per our requirements and can click on “Next” button to complete our process ofcreation of a company. We can also view the chart of accounts of a specific available company byclicking on that required company and then clicking on “View chart of accounts” option. By doing this wewill be arriving on the following wizard scheme. From this list of chart of accounts we can scroll down and have a look on the available accountsin that list. Now we close this list and press the “next” button after selecting our required company. Weget the following screen after following this procedure.
  • 15. MUHAMMAD AHMED SHAHID L3F09BCOM2513 From this wizard scheme of “Accounting Method”, we select “Accrual” and then click on “Next”button to continue our steps toward creation of a new company in Peachtree accounting software 2004.After following this step, we get the following wizard screen of “Posting Method” on our desktop screen. From this wizard scheme of “Posting Method”, we select “Real Time” option and click on “Next”button to proceed towards the creation of a new company on Peachtree Accounting Software 2004. Weget the Following Screen of “Accounting Periods” on implementing this procedure. From this wizard scheme of “Accounting Periods”, we select the option of “12 monthlyaccounting periods” option as per our requirement and then click on “Next” Button to proceed. Afterfollowing this procedure, we reach to the following “Monthly Accounting Periods” Wizard scheme.
  • 16. MUHAMMAD AHMED SHAHID L3F09BCOM2513 From this Wizard scheme of “Monthly Accounting Periods”, we select “January” as Month and“2012” as year for our requirement, “When do you want your fiscal year to start?”. Then we select“February” as month and “2012” as year for our requirement of “What is the first month you will beentering your data?”. After this we select “2012” in our requirement of “What is the first year you willbe entering payroll?”. After filling this we click the “Next” button and get the following screen on ourdesktop screen. This “Defaults “wizard scheme displays the default settings made by the Peachtree accountingsoftware for our new company which we can change after creation of the company. From this we pressthe “Next” button and get to the following screen of “Congratulation”. This is the last wizard scheme involved in the creation of our new company in Peachtreeaccounting software 2004. In this wizard, we press the “Finish “button after which a new company startsits creation and with in 10 seconds the Peachtree software creates a new company for us.
  • 17. MUHAMMAD AHMED SHAHID L3F09BCOM2513 HOW TO OPEN AN EXISTING COMPANY We can open an existing company using our Peachtree software which we had already createdin the past or had been created by someone else in the past. For this the existing company must besaved in the hard drive of the computer on which the Peachtree software is installed. For this first weopen the Peachtree software and arrive on the following wizard scheme on our desktop. From this wizard scheme we select the first option “Open an existing company”. On clicking“Open an existing company”, following wizard is shown on our desktop screen. From this wizard scheme we Press the “Browse” button on the left side of the wizard and locateour existing company folder in the hard drive. On clicking “Browse” button we arrive on the followingscreen. From here we select our drive in which we have saved the files of the existing company. Afterselecting that drive we further locate the folder in which we have saved our files of existing companyfrom the “Directories” portion. Drive can be selected by the following method.
  • 18. MUHAMMAD AHMED SHAHID L3F09BCOM2513 After selecting the drive in which we have saved the data folder of our already existed companywe finally locate the company folder and select that folder from the screen as follows and click the “Ok”button. One thing should be kept in mind that on selecting the Company the folder sign with thatcompany should be of closed folder rather than opened folder. The difference between both the foldershas been illustrated in the following diagram. After clicking the “Ok” button the existing company data will be restored in the software and anew screen will be opened on the desktop screen as follows.
  • 19. MUHAMMAD AHMED SHAHID L3F09BCOM2513 This window is the main screen for our company which we were willing to open. At the top ofthe Peachtree software we will find the name of the company with which we had already created it inthe past. OR There is another method of opening an existing company using Peachtree software. In thismethod we directly copy the files of the existing company which was created in the past and paste themin the companies’ directory of Peachtree Accounting Software. For this first of all we select the datafolder of the already existed company which we are willing to open using Peachtree. After selecting itwe Right click on it and Click on “Copy” as shown in the following screen.
  • 20. MUHAMMAD AHMED SHAHID L3F09BCOM2513 After clicking on “Copy” we open the drive in which the Peachtree software is installed. Mostlythis is the Drive “C” where we save our software as well as windows but it may vary Pc to Pc. On openingthe Drive “C” we see the following screen on our desktop. From this window we double click on the folder “Program Files” and get to the following screen.
  • 21. MUHAMMAD AHMED SHAHID L3F09BCOM2513 From this window we open the “Peachtree” folder by double clicking on it. By doing this wearrive on the following screen on our desktop. From this window we open the “Company” folder by double clicking on it and arrive on thefollowing screen on our desktop.
  • 22. MUHAMMAD AHMED SHAHID L3F09BCOM2513 Here we paste the folder of the existing company which we already copied in the start of theprocess by using a shortcut key CTRL + V or we can Right click within the window and click on Paste if wehave already copied it from the original directory as we did in the start. After pasting it in this folder we again go back to the Peachtree Software or open it again. Afteropening it we get the following screen on our desktop.
  • 23. MUHAMMAD AHMED SHAHID L3F09BCOM2513 From this wizard scheme we select the first option “Open an existing company”. On clicking“Open an existing company”, following wizard is shown on our desktop screen. From this we select our company which we have copied in the company folder and click the“Ok” button. On clicking “Ok” the main screen for our company which we were willing to open appearson the desktop screen. At the top of the Peachtree software we will find the name of the company withwhich we had already created it in the past. ENTERING CHART OF ACCOUNTS IN THE SOFTWARE If we have chosen the “Build your own company” in the beginning from the “Chart of accounts”wizard scheme then we will have to make our own chart of accounts after the formation of the companyis completed. For this first we open the company in which we want to enter the chart of the accounts.The first page of the company will be opened in the same manner as described above. Following frontpage of the company appears on the desktop screen on opening the window.
  • 24. MUHAMMAD AHMED SHAHID L3F09BCOM2513 From this screen we first select the “Maintain” option from the above taskbar and by clicking onthe “Maintain” option, following options further appears on the screen. From these options we select the “Chart of accounts” option in order to enter the chart ofaccounts in the software. On clicking on “Chart of accounts”, following screen appears on the desktopscreen.
  • 25. MUHAMMAD AHMED SHAHID L3F09BCOM2513 This is the window where we enter the accounts related to our company or store whatever isour concern. It contains “Account ID” option in which we enter the Code of the account or the ID of theaccount. Another option is “Description” in which we add the name of the account. Like Petty cash, cashin hand, cash at bank, account receivable, account payable and so on. The third option is “Accounttype”. From this option we can select the type or the nature of the account which we are adding in thelist of chart of accounts. For instance the type of account for petty cash and cash at bank will be “Cash”,the type of account for account receivable will be “Account receivable” and so on. There is anotheroption of “Inactive”. By selecting this option our account will be inactivated and we will not be able torecord any financial entry regarding that account. That account will be closed for recording thetransactions and marinating the records. The next option is “Change ID”, from where we can change theID of the account if we have entered it incorrectly. We can even delete the account using this window.All these are explained in the further pages. We enter the Code of the account in the “Account ID” asfollows. Below this “Account ID” option there is another option “Description”. We enter the name of theaccount in this portion as illustrated follows.
  • 26. MUHAMMAD AHMED SHAHID L3F09BCOM2513 After this we select the “Account type” by clicking on it. On clicking it, different options for theaccount type appears on the desktop screen from which we select the appropriate account type for ouraccount. Following options appear on the screen on clicking “Account type”. If we have made any mistake in our chart of accounts with any of our account then we can alsorectify our mistake. If we had written wrong description or ID for the account or selected the wrongaccount type for the account then these mistakes can be rectified by using the following procedure. If we want to change the ID of our account then we need to first select that account from the listand after selecting it we press the button of “Change ID” in the top of the “Maintain chart of accounts”wizard scheme. On doing this, following screen appears on the desktop screen. Here we enter our new correct ID for the account in “Enter New Account ID” and click on “ok”.After this the ID of the account will be changed to our new entered ID. If we want to change thedescription or the account type of any account then we can also do it. First we will have to select thatparticular account which requires to be amended and the click on description and change thedescription or account type click on account type and change the account type to our required accounttype. After changing the description or account type press the save button which have been shownbelow.
  • 27. MUHAMMAD AHMED SHAHID L3F09BCOM2513 We can also inactive any account. On inactivating the account that account will be inactivatedand we will be not is allowed to use that account later in the future transactions. To inactivate anyaccount we must select that account from the list and then click on the inactive box as shown below. ENTERING THE BEGINNING BALANCES OF THE ACCOUNTS IN CHART OF ACCOUNTS Now we have to enter the opening balances in the accounts. We click on “Beginning Balances”button in order to enter our beginning balances. The button of “Beginning balances” has been shownbelow in the wizard scheme.
  • 28. MUHAMMAD AHMED SHAHID L3F09BCOM2513 From this we press the “Beginning balances” button and on clicking it, following windowappears on the desktop screen. If we have to enter the balance for the month of February then we will have to enter the data inJanuary month. Same if the balance of March is required to be entered as beginning balance then wewill enter the beginning balance in the month of February. The amounts or balance entered will be theclosing balance of February which will become the opening balance of March. One more thing which isvery important is that the first digit in the date is of MONTH not DAY as it’s American software whereMONTH is written before DAY in date. On selecting the period we click on the “Ok” button and the following screen appears on thedesktop screen.
  • 29. MUHAMMAD AHMED SHAHID L3F09BCOM2513 Here we enter the balances in the account. The left side is for the Assets and Expenses while theright side is for Liabilities, equity and Income. We enter the opening balances of our respective accounts.The amounts or the balances will only be entered in the white portion which is for the NORMALBALANCE for that respective account. It means if we have selected Assets as the type of account forCash the Assets portion which is the left side will become white and eligible for balance entry. We mustenter the data in such a manner that the left side and right side of the trial balance is equal to eachother because e the arithmetical accuracy of the data is proved by the equal balance of trial balance. HOW TO CREATE CUSTOMER RECORDS IN PEACHTREE ACCOUNTING SOFTWARE After opening the company in our Peachtree accounting software, the first thing we do in orderto create the customer record is that we Click on “maintain” option at the top of the software’s toolbarand on clicking it, following window appears on our desktop screen.
  • 30. MUHAMMAD AHMED SHAHID L3F09BCOM2513 From this window we select the first option which is “Customers/Prospectus….” In order tocreate our customer records. On clicking it following window scheme appears on the screen. We fill this window for each of our client or customer. Every customer will be allocated with aseparate and unique ID which will be written in “Customer ID” portion. This ID cannot be repeated forany other customer. Every customer will have a unique and different ID as we allocated different ID fordifferent accounts while preparing chart of Accounts in the beginning. After this we write the name ofthe organization with which we are dealing in the “Name” portion in this window. After writing thename of the organization we first fill the “General” part of the requirements. We enter the name of thatperson or the post of that person as per the conditions with whom we are going to engage in. This canbe sales representative, salesman, Sales manager or any other person as per the requirements. Afterthis we enter the address of that customer in the “Address” portion. Only 30 alphabets or numbers canbe written in a single line in “Address” option. If the address is longer than 30 alphabets then we canwrite the remaining address in the 2nd line for address. Then we write the city and so on. In “CustomerType” we mention which type of customer is he/she is according to our categorizations. This Customeraccount is a subsidiary ledger account which will be entered in sales revenue account. After filling theother required information in “General’ we move onwards on to Sales Defaults by clicking on it.Customer ID, Name and GL Sales acct must be entered in order to create the record for any customer.
  • 31. MUHAMMAD AHMED SHAHID L3F09BCOM2513 Here we enter all the required information. In the “GL Sales Acct” portion we write the ID of oursales revenue account. If we do write any ID which doesn’t exist in the chat of accounts then the blankarea in “GL Sales Acct” start blinking. After filling this information we move on to the “PaymentDefaults” by clicking on it. Here we enter all the required information regarding the payment to the client. After filling thisportion we move forward to Custom Fields by clicking on it. Here we enter the Second contact if required, Reference if required and so. These Field labelscan be changed easily on the customer default window. After completing this “Custom Fields” we moveforward to “History” by clicking on it.
  • 32. MUHAMMAD AHMED SHAHID L3F09BCOM2513 This is the last window before completion of a single customer record. After filling these allrequired information, we click on “Save” button in order to save the record which we have entered inthe software for that specific customer. After this we can again repeat our whole process in order tocreate more records for different customers. Following is the Save Button.HOW TO CREATE VENDOR RECORDS IN PEACHTREE ACCOUNTING SOFTWARE After opening the company in our Peachtree accounting software, the first thing we do in orderto create the vendor record is that we Click on “maintain” option at the top of the software’s toolbarand on clicking it, following window appears on our desktop screen. From this window we select the first option which is “Vendors….” In order to create our vendorrecords. On clicking it following window scheme appears on the screen.
  • 33. MUHAMMAD AHMED SHAHID L3F09BCOM2513 We fill this window for each of our vendor. Every vendor will be allocated with a separate andunique ID which will be written in “Vendor ID” portion. This ID cannot be repeated for any other vendor.Every vendor will have a unique and different ID as we allocated different ID for different accounts whilepreparing chart of Accounts in the beginning. After this we write the name of the organization withwhich we are dealing in the “Name” portion in this window. After writing the name of the organizationwe first fill the “General” part of the requirements. We enter the name of that person or the post of thatperson as per the conditions with whom we are going to engage in. This can be sales representative,salesman, Sales manager or any other person as per the requirements. After this we enter the addressof that vendor in the “Address” portion. Only 30 alphabets or numbers can be written in a single line in“Address” option. If the address is longer than 30 alphabets then we can write the remaining address inthe 2nd line for address. Then we write the city and so on. In “Vendor Type” we mention which type ofvendor is he/she is according to our categorizations. This vendor account is a subsidiary ledger accountwhich will be entered in purchase account. After filling the other required information in “General’ wemove onwards on to Purchase Defaults by clicking on it. Vendor ID, Name and Purchase acct must beentered in order to create the record for any vendor.
  • 34. MUHAMMAD AHMED SHAHID L3F09BCOM2513 Here we enter all the required information. In the “Purchase Acct” portion we write the ID ofour purchase account. If we do write any ID which doesn’t exist in the chat of accounts then the blankarea in “Purchase Acct” start blinking. After filling this information we move on to the “Custom Fields”by clicking on it. Here we enter the Second contact if required, Reference if required and so. These Field labelscan be changed easily on the vendor default window. After completing this “Custom Fields” we moveforward to “History” by clicking on it. This is the last window before completion of a single vendor record. After filling these allrequired information, we click on “Save” button in order to save the record which we have entered inthe software for that specific vendor. After this we can again repeat our whole process in order to createmore records for different vendors. Following is the Save Button.
  • 35. MUHAMMAD AHMED SHAHID L3F09BCOM2513 ENTERING BEGINNING BALANCES OF THE CUSTOMERS (IF ANY) If there are the beginning balances of the customers for which we have created the record inthe software then we can also add this beginning balances in that customer’s account. For this first weselect the “Maintain” from the toolbar. From this we select “Customers/Prospectus….” And following screen appears on the screen. From here we select the option “Beginning Balances” and on selecting this option followingwindow appears on the desktop screen. To enter the beginning balances of the customers we will have to select any customer whombeginning balance is required to be entered in the software. We will Double click on that customer andfollowing window will appear on the desktop screen.
  • 36. MUHAMMAD AHMED SHAHID L3F09BCOM2513 Here we enter the invoice number in “Invoice Number”, Date of that invoice in “Date”,“Purchase Order number” if any, “Amount” and finally ID of account receivable in “A/R Account” in thewindow. After completing this we press on “Save” in order to save the beginning balances of thecustomers. We will enter the beginning balances of the remaining customers in the same manner as weentered for the first customer. ENTERING BEGINNING BALANCES OF THE VENDORS (IF ANY) If there are the beginning balances of the vendors for which we have created the record in thesoftware then we can also add this beginning balances in that vendor’s account. For this first we selectthe “Maintain” from the toolbar. From this we select “Vendors….” And following screen appears on the screen. From here we select the option “Beginning Balances” and on selecting this option followingwindow appears on the desktop screen.
  • 37. MUHAMMAD AHMED SHAHID L3F09BCOM2513 To enter the beginning balances of the vendors we will have to select any vendor whombeginning balance is required to be entered in the software. We will Double click on that vendor andfollowing window will appear on the desktop screen. Here we enter the invoice number in “Invoice Number”, Date of that invoice in “Date”,“Purchase Order number” if any, “Amount” and finally ID of account receivable in “A/P Account” in thewindow. After completing this we press on “Save” in order to save the beginning balances of thevendors. We will enter the beginning balances of the remaining vendors in the same manner as weentered for the first vendor. HOW TO EDIT CUSTOMER WINDOW ITEMS We can edit the options available in the customer window in which we create new customer.These customers are made from “Maintain Customers/Prospects” as described before. To edit theoptions available in this “Maintain Customers/Prospects”, we first click on “Maintain” from the optionsavailable on the top left side of our software’s toolbar. On clicking this option following window appearson the screen.
  • 38. MUHAMMAD AHMED SHAHID L3F09BCOM2513 From this window we select the option “Default information” and get the following screen onour desktop. From this window we select the option “Customers…” and following screen appears on thedesktop screen. This window has different options which we can use to set default the options. If we select anyoption as default in this window then the related options in the customer accounts are also edited asper accordance with the “Customer Defaults” window. This window has different options which havebeen explained step by step in the following notes.PAYMENT TERMS: The first option in the Payment terms is “C.O.D.” under “Standard terms”. This C.O.D meansCASH ON DELIVERY which means that the cash is received at the time of sales of goods or delivery orservices rendered. If we select this option then the options like “Net due in”, “Discount in” and“Discount %” are disabled and are not allowed to be edited. This has been shown in the followingwindow.
  • 39. MUHAMMAD AHMED SHAHID L3F09BCOM2513 The second option is “Prepaid” which means that the cash have been received in advancebefore making the sales or delivering the goods or rendering the services. On selecting this option theoptions like “Net due in”, “Discount in” and “Discount %” are disabled and are not allowed to be edited.This has been shown in the following window. The third option is “Due in number of days” which means that the due period will be decided forthe payment. If the sales have been made on 15th of March and we have given the customer a timeperiod till 28th of March for the payment of the goods then the due period would be 13 days. Onselecting this option the options like “Net due in”, “Discount in” and “Discount %” are enabled and areallowed to be edit because we also can also dictate the discount terms if the customer pays the amountwithin the due time period or prescribed by the creditor. In “Net due in” we write the time period ordays granted to the customer for the payment of the amount. In “Discount in” we write the days withinwhich the customer can avail the discount given by the seller. In “Discount %” we mention thepercentage of discount which we wish to offer to our customer for encouraging early payment which isalso known as motivational device. In “credit Limit” option we mention the amount till where we canallot the credit top any customer. If the amount of credit exceeds beyond this prescribed limit then anerror will be displayed on the desktop screen while recording the invoice balance. This have beendisplayed below.
  • 40. MUHAMMAD AHMED SHAHID L3F09BCOM2513 The fourth option is “Due on day of next month”. In this option we mention the date ofreceiving the payment as in the next month of the sales or services. If the sales have been made on 15 thof March and the amount is going to be received on 18th of April then we will use this option. Onselection the radio button for this option following screen appears on the desktop screen. Here in the “Due on the __ next month” we mention the date in the next month when we willbe receiving our amount. In “Discount in” we write the days within which the customer can avail thediscount given by the seller. In “Discount %” we mention the percentage of discount which we wish tooffer to our customer for encouraging early payment which is also known as motivational device. In“credit Limit” option we mention the amount till where we can allot the credit top any customer. If theamount of credit exceeds beyond this prescribed limit then an error will be displayed on the desktopscreen while recording the invoice balance.
  • 41. MUHAMMAD AHMED SHAHID L3F09BCOM2513 This is the fifth and the last option under Standard terms “Due at the end of the month”. Thisoption is selected if the amount for the delivery is going to be received at the end of that month. Like ifthe sales have been made on credit purposes on 22nd of February and the4 amount is going to bereceived at the end of the month that is on 28th of February(If not a leap year) then we will select thisoption of “Due at the end of the month”. On selecting this option, the option “Due on the __ nextmonth” is disabled and is not allowed to be edited. . In “Discount in” we write the days within which thecustomer can avail the discount given by the seller. In “Discount %” we mention the percentage ofdiscount which we wish to offer to our customer for encouraging early payment which is also known asmotivational device. In “credit Limit” option we mention the amount till where we can allot the credittop any customer. If the amount of credit exceeds beyond this prescribed limit then an error will bedisplayed on the desktop screen while recording the invoice balance. Here we can enter our sales account for the once to keep it as default for our “GL sales account”while preparing the customer or prospects. The account ID selected here will be set as default accountfor “GL sales account” in customer formation. Same is the case with “Discount GL Account” that here weenter the ID of our Discount expense account which will be set as default in customer also.ACCOUNT AGING: Account aging means making different categories for the debtors. On basis of this the amount ofbad debt expense is calculated. On selecting “Account aging” following screen appears on the desktopscreen. We can age our invoices by either “Invoice date” or “Due date” as per our requirements. If weselect the invoice option then it means that the debtor will be entering the calculation of aging ofdebtors after the invoice date. If the customer have purchased the goods on 25th of March and have alsogot the invoice by the shopkeeper dated 25tyh March then the aging of that customer will be startedfrom 25th of March while in contrary if we have selected “Due date” option and after selling the goodson 25th of March we say allot a time period of 5 days for the payment of the amount then after these
  • 42. MUHAMMAD AHMED SHAHID L3F09BCOM2513five days the aging of the customer will be started. Below are the aging categories which have 4 columnsand we can categorized our debtors in these columns. The number of days will be written in “# of days”option and the “Column Heading” will be of the time period given to the creditor. After filling this wemove on to the next tab which is Custom Fields.CUSTOM FIELDS: From here we can edit the Field labels and make them Enabled by selecting the radio buttonagainst it while to disable it we must deselect the radio button against that Field label. Then we can alsoadd further more field labels as per our requirements in the 5th option. These editing of the field labelswill also be edited in the “Custom fields” option in customer formation. If we enter the first field label as“Toyota” and press “Ok” button and go back to the “Custom fields” option in the customer formationthen this first field label of “Toyota” will be appearing there on the 1st number.FINANCE CHARGES: This window deals with the finance charges. In “On invoices” we enter the number of invoiceson which we want to apply the finance charges. At the top we have box “Change finance charges”, if weselect this box then we will be able to apply finance charges on our invoices. After filling all the requiredinformation in this window we enter the ID of the finance account in “Finance Charge GL Account”.Without this our finance charges applied will not be recorded.
  • 43. MUHAMMAD AHMED SHAHID L3F09BCOM2513PAY METHODS: In this window of customer default, we select the method of payment. From these availablemethods we select the most suitable method for our business. MAINTAINING INVENTORY ACCOUNT IN THE SOFTWARE Like account receivable has its subsidiary ledgers, inventory also has subsidiary ledgers. Thereare different types of inventory items in an inventory account. For instance an inventory account mayconsist of different inventories according to that business. We can record these inventory items inPeachtree accounting software. First we will have to open the company where we want to add theseinventory items. After opening the software, we click on “Maintain” and will arise on the followingwindow. From here we click on “Inventory items…” in order to enter our inventory items in the software.On clicking “Inventory items…” following window appears on the desktop screen.
  • 44. MUHAMMAD AHMED SHAHID L3F09BCOM2513 This is the inventory item window where we will add the inventory items. In the “Item ID” wewill write the ID of the inventory item. Every inventory item must posses a unique and separate ID thanthe 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 Salesaccount 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 theinventory account in this portion of “GL Inventory Acct”. After this we associate the Cost of salesaccount with “GL Cost of Sales Acct” by entering the ID of the Cost of Sales account in this portion of “GLCost of Sales Acct”. These five basic things are important to create any inventory item and after this wecan save the item by clicking on saves. We also have many different options available in this windowother than these five important items. Lets discuss them now.
  • 45. MUHAMMAD AHMED SHAHID L3F09BCOM2513 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. The option “Price Level 1:” is to adjust the price of the inventory item. Like as we have differenttypes of vendors and customers, we also have different types of tax so in “Item tax type” we mentionthe type of the tax to be applied on that item. In “Last Unit Cost:” we enter the cost of the inventory andlate on Peachtree automatically sets the cost of the new inventory item based on the last unit cost. Byclicking on cost method we get different cost methods available in the software. From here we canselect the method as per our requirement. “Item class” option is the most important option in this window. By clicking on this item classdifferent classes for inventory items appears on the screen. If we are opening a retail store and ourbusiness 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”.
  • 46. MUHAMMAD AHMED SHAHID L3F09BCOM2513AN ILLUSTRATION OF MAINTAING INVENTORY ACCOUNT IN THE SOFTWARE: ITEMS QTY/HOUR ITEM CLASSMOTHER BOARD 1 Stock itemPROCESSOR 1 Stock itemCASING 1 Stock itemRAM 2 Stock itemDVD 1 Stock itemHARD DISK 2 Stock itemKEYBOARD 1 Stock itemMOUSE 1 Stock itemLCD 1 Stock itemLABOUR 1.5 LaborCOMPUTER DEPENDS Assembly Now let us enter all these records in the software. These are the raw material required formaking a computer. Every raw material will be entered in the “Stock item” while the labor will beentered in “Labor” and “Computer” will be entered in “Assembly”. To enter these items first of all wewill click on “Maintain” and following window will appear on the desktop screen. From here we click on “Inventory items…” in order to enter our inventory items in the software.On clicking “Inventory items…” following window appears on the desktop screen.
  • 47. MUHAMMAD AHMED SHAHID L3F09BCOM2513 Now to enter the records for raw material we will select “Stock item” from “Item class” and willenter the record. Every stock item or raw material will be created by entering the ID, Description for thataccount, GL sales Account, GL Inventory Account and GL Cost of sales account. After entering the ID anddescription we will associate the GL sales Account, GL Inventory Account and GL Cost of sales accountwith the accounts created in chart of accounts with its ID. These basic 5 items are mandatory forcreation of a stock item in the software. Here we will create the accounts for the following items asthese items are our raw material required to make a computer: 1. Mother Board. 2. Processor. 3. Casing. 4. RAM. 5. DVD. 6. Hard disk. 7. Keyboard. 8. Mouse. 9. LCD. Now we will enter labor in the software. Labor will be entered in the labor item in item class. We will click on item class and following window will appear on the screen. From here we will select “Labor” and then we will enter the required mandatory information which is ID, Description for that account, GL Salary/Wages Account, GL Inventory Account and GL Cost of sales account. After entering the ID and description we will associate the GL sales Account, GL Salary/Wages Account and GL Cost of sales account with the accounts created in chart of accounts with its ID. Following is the window for labor where we will enter the mandatory information.
  • 48. MUHAMMAD AHMED SHAHID L3F09BCOM2513 After completing this labor we will move on towards “Assembly”. From “Item class” we willselect “Assembly”. On selecting this following screen will appear on the desktop screen. Here we will enter the mandatory information for creation of a new assembly. Assembly refersto a complete finished product. As we are making computers so our finished products will beCOMPUTERS. We will enter the ID, Description for that account, GL sales Account, GL InventoryAccount and GL Cost of sales account. After entering the ID and description we will associate the GLsales Account, GL Inventory Account and GL Cost of sales account with the accounts created in chartof accounts with its ID. We can also use “unit/Measure” option where we can enter the unit inwhich we measure that certain raw material or assembly. Here after completing this information wewill click on “Bill of materials” and following window will appear on our desktop screen.
  • 49. MUHAMMAD AHMED SHAHID L3F09BCOM2513 Here we have to mention the ID, Description and Quantity needed to make one finished product which is a COMPUTER in this case. We will enter the ID in “Item ID” and automatically “Description” will be entered by the software. We will add the quantity needed as per our production requirements. After completing this all process we will press on “Save” button to save the assembly. ENTERING BEGINNING BALANCES OF INVENTORY We can add the beginning balances of the inventory by using this software. We can do this byclicking on “Maintain”. By clicking on “Maintain” following window will appear on the desktop screen. From here we click on “Inventory items…” in order to enter our beginning balances of theinventory items in the software. On clicking “Inventory items…” following window appears on thedesktop screen.
  • 50. MUHAMMAD AHMED SHAHID L3F09BCOM2513 From this window we will click on “Beginning Balances” option and on doing such followingwindow appears on the desktop screen. Here we will enter the balances of the inventory items one by one by selecting them. We willenter a specific inventory item to enter the balance and enter the number of units in hand in “Quantity”,Per unit cost in “Unit Cost” and remaining “Total Cost “will be automatically calculated by the software.After entering the beginning balances for the inventory items as per our requirements, we press on“OK” in order to save the data entered in the software. Now we can check the inventory item availablewith us. For this we will click on “Reports” and following window appears on the desktop screen. From here we will click on “Inventory….” And following window appears on our desktop screen.
  • 51. MUHAMMAD AHMED SHAHID L3F09BCOM2513 From this window we will select “Inventory stock status report”. This report tells us about thestatus of our inventory items. The inventory items are deducted from here as per usage. This shows acomplete sheet of our inventory in hand. Following is the window which appears on the screen onselecting this report. If we have entered the beginning balances of our inventory items then balanceswill be shown in this report as shown in the following window.
  • 52. MUHAMMAD AHMED SHAHID L3F09BCOM2513 HOW TO MAKE A PURCHASE ORDER There are different methods using which we can create a purchase order in Peachtreeaccounting software. For this we can directly create the purchase order from the task window or we canalso create the purchase order from navigation aid. To create the purchase order from navigation aidwindow we will first open our company and then click on “Options” and following window will appearon the desktop screen. From this window we will click on “View Navigation Aid”. On clicking this new navigationwindow will appear on the desktop screen. We can directly create a new purchase order from this window by clicking on “Purchase order”.By clicking on “Purchase order” following window will appear on the desktop screen where we willcreate the purchase order.
  • 53. MUHAMMAD AHMED SHAHID L3F09BCOM2513 There is another method of creating a new purchase order from Peachtree software. For this wewill click on “Task” menu and following window will appear on the desktop screen. From this window we will click on “purchaser orders…” in order to create a new purchase order.By clicking this “purchaser orders…” following window will appear on the desktop screen.
  • 54. MUHAMMAD AHMED SHAHID L3F09BCOM2513 This is the purchase order which will be created as per requirements. At the top left side of thepurchase order is “Vendor ID” where we will enter the ID of the Vendor. In this field we will associatethe Vendor’s account with its ID. In “Remit To” name of the vendor and address of the vendor is shownautomatically on selecting a specific vendor. In “Ship to” the address of our company or the destinationaddress is displayed. This is the address where we want to receive the goods. On the right side of thepurchase order there are two dates displayed. First “date” is the date when purchase order was createdand “Good Thru” is the date when we want to receive the goods. In “PO No” we write the purchaseorder number which is very much important. “Close PO” is the option which is used to close thepurchase order. By selecting this, purchase order is closed. For instance the purchase order was for 100items and we only received 80 items then by clicking on this “Close PO” we mean that we will notreceive the remaining 20 items. On selecting “Drop Ship” the goods which are not received yet will becancelled. So to cancel the receiving if remaining items we can select this option of “Drop Ship”. Then in“terms” the default terms of that specific vendor selected is displayed which can also de edited. Thenwe associate the account payable account in “A/P Account” field by entering the ID of account payableas mentioned in chart of accounts. Then in “Quantity” we enter the quantity required, in “Item” weenter the ID of those required items, in “description” automatically the description of the entered itemID will be displayed, in “G/L Account” we enter the ID of the inventory account, in “Unit price” the priceof that required item is entered, in “Amount” automatically the total amount for that specific item is
  • 55. MUHAMMAD AHMED SHAHID L3F09BCOM2513calculated. After filling all these terms we will click on “Save” in order to save the created purchaseorder. HOW TO RECORD RECEIVING OF INVENTORY The inventory can be received after the issuance of purchase order or it can also be receivedwithout even issuing the purchase order. We can call the inventory or can order for the requiredinventory to the vendor through a phone call and in this case no purchase order will be made by thecompany ordering the inventory.RECEIVING INVENTORY AFTER ISSUING PURCHASE ORDER: For this we will first open the company in the Peachtree accounting software. After opening thecompany we will press “Task” from the menu bar and following window will appear on our desktopscreen. From this window we will select the option “Purchase/Receive Inventory…..” and on selectingthis option following window will appear on our desktop screen.
  • 56. MUHAMMAD AHMED SHAHID L3F09BCOM2513 To enter the inventory received first we will select that vendor ID from which we have orderedthe inventory. This ID of vendor will be mentioned in “Vendor ID” field. As soon as we select the ID thewindow appearing on our desktop screen shift from “Apply to purchases” to “Apply to purchase Order”and following window appears on our desktop screen.
  • 57. MUHAMMAD AHMED SHAHID L3F09BCOM2513 From this window we will click on the options available in front of “Apply to purchase Order No”and on doing so following window will appear on our desktop screen.
  • 58. MUHAMMAD AHMED SHAHID L3F09BCOM2513 Here we will enter the inventory received by us. In the “Received” column we will enter theamount of inventory received. Other calculations will be made automatically by the software. In “InvoiceNo” we will mention the invoice no against which we have received the inventory. This is a mandatoryoption because without this the invoice will not be recorded in the Peachtree accounting software. If wehave not received the invoice against the inventory received then we can click on “Waiting on Bill”. Wecan also use “Drop Ship” option if we are not going to receive the remaining inventory as mentioned inthe purchase order. After entering the invoice number we will press “Save” button in order to save thereceiving of the inventory. Now we can receive fewer inventories as compare to our ordered inventoryor we can also receive more inventory than ordered inventory or we can even receive equal amount ofinventory as ordered by us in the purchase order.RECEIVING INVENTORY WITHOUT ISSUING PURCHASE ORDER: For this we will first open the company in the Peachtree accounting software. After opening thecompany we will press “Task” from the menu bar and following window will appear on our desktopscreen.
  • 59. MUHAMMAD AHMED SHAHID L3F09BCOM2513 From this window we will select the option “Purchase/Receive Inventory…..” and on selectingthis option following window will appear on our desktop screen. To enter the inventory received we will first enter the ID of the vendor in the “vendor ID” fieldor if we have not created the account of that vendor then we will create the account of that vendor bydouble clicking on “Vendor ID” field. After this we will enter the “Invoice No” against which we have
  • 60. MUHAMMAD AHMED SHAHID L3F09BCOM2513received the inventory. This is a mandatory option because without this the invoice will not be recordedin the Peachtree accounting software. If we have not received the invoice against the inventory receivedthen we can click on “Waiting on Bill”. Then after entering the date we will start entering the inventoryin the sheet. In “Quantity” column we will enter the quantity of inventory received, in “Item “column wewill enter the ID of that received item as mentioned in our chart of accounts, in “Description” softwarewill enter the information automatically as par accordance with the information entered while creatingthat specific account in chart of accounts. In “GL Account” we will enter the ID of the inventory account.Rest calculation will be done by the software itself. On completing this we will click on “Save” button inorder to save the receiving inventory in the software.RECEIVING SOME INVENTORY AFTER ISSUING & WITHOUT ISSUING PURCHASE ORDER: We can also receive some part of our inventory after issuing the purchase order whilesome part of inventory without issuing the purchase order. For this we will first open the company in thePeachtree accounting software. After opening the company we will press “Task” from the menu bar andfollowing window will appear on our desktop screen. From this window we will select the option “Purchase/Receive Inventory…..” and on selectingthis option following window will appear on our desktop screen.
  • 61. MUHAMMAD AHMED SHAHID L3F09BCOM2513 To enter the inventory received without any purchase order we will first enter the ID of thevendor in the “vendor ID” field or if we have not created the account of that vendor then we will createthe account of that vendor by double clicking on “Vendor ID” field. After this we will enter the “InvoiceNo” against which we have received the inventory. This is a mandatory option because without this theinvoice will not be recorded in the Peachtree accounting software. If we have not received the invoiceagainst the inventory received then we can click on “Waiting on Bill”. Then after entering the date wewill start entering the inventory in the sheet. In “Quantity” column we will enter the quantity ofinventory received, in “Item “column we will enter the ID of that received item as mentioned in ourchart of accounts, in “Description” software will enter the information automatically as par accordancewith the information entered while creating that specific account in chart of accounts. In “GL Account”we will enter the ID of the inventory account. Rest calculation will be done by the software itself. Oncompleting this we will click on “Save” button in order to save the receiving inventory in the software. To enter the inventory received after issuing the purchase order, first we will select that vendorID from which we have ordered the inventory. This ID of vendor will be mentioned in “Vendor ID” field.As soon as we select the ID the window appearing on our desktop screen shift from “Apply topurchases” to “Apply to purchase Order” and following window appears on our desktop screen.
  • 62. MUHAMMAD AHMED SHAHID L3F09BCOM2513 From this window we will click on the options available in front of “Apply to purchase Order No”and on doing so following window will appear on our desktop screen.
  • 63. MUHAMMAD AHMED SHAHID L3F09BCOM2513 Here we will enter the inventory received by us. In the “Received” column we will enter theamount of inventory received. Other calculations will be made automatically by the software. In “InvoiceNo” we will mention the invoice no against which we have received the inventory. This is a mandatoryoption because without this the invoice will not be recorded in the Peachtree accounting software. If wehave not received the invoice against the inventory received then we can click on “Waiting on Bill”. Wecan also use “Drop Ship” option if we are not going to receive the remaining inventory as mentioned inthe purchase order. After entering the invoice number we will press “Save” button in order to save thereceiving of the inventory. Now we can receive fewer inventories as compare to our ordered inventoryor we can also receive more inventory than ordered inventory or we can even receive equal amount ofinventory as ordered by us in the purchase order. Both the inventories, received after issuing thepurchase order and received without issuing the purchase order will be saved on clicking on “Save”button at a time. So in this way we can also record the mix receiving of the inventory. HOW TO MAKE A QUOTATION IN PEACHTREE ACCOUNTING SOFTWARE We create customer quotation for our customers so that they could read our quotation whichincludes our prices, terms and conditions, rules, consignment package rules and all the other requiredinformation regarding order placing. For this first of all we will open the company from the software and
  • 64. MUHAMMAD AHMED SHAHID L3F09BCOM2513after opening the company in the software we will click on “Task” menu above and following windowwill appear on our desktop screen. From here we will select “Quotes/Sales Orders” and sub window will appear on our screen asshown below. Now in order to create a quotation for the customer we will be clicking on “Quotes…” andfollowing window will appear on our desktop screen on clicking it.
  • 65. MUHAMMAD AHMED SHAHID L3F09BCOM2513 In the “Customer ID” field we will be entering the ID for the customer to whom we are going tosend the quotation. If the address was entered will creating that customer in the software then theaddress will automatically appear in “Bill To”. In “Date” we will entering the date of making quotation, in“Good Thru” we will be entering the date till which we want to make this quotation valid. After thisgood thru date mentioned the company will be not responsible for terms and condition mentioned inthe quotation but it may vary as per the conditions. In “Quote No” , which is mandatory, we will beentering the quotation number for the reference of this quotation so that we can easily find thisquotation when required from quotation list in the software. After filling all the required information tocreate the quotation in the window along quantity, Item, description, Unit price, tax and amount wesave the quotation by clicking on “Save”. HOW TO MAKE A SALE ORER IN PEACHTREE ACCOUNTING SOFTWARE Sale order is prepared as we receive the purchase order or it may be made even by receiving theorder on call. The main purpose of creation of sales order is that it is a notice published to the storemanager or concerned authority to issue the mentioned amount of items in the sales order. So afterseeing this sales order the goods are prepared for sales. To open this sales order in the software first we
  • 66. MUHAMMAD AHMED SHAHID L3F09BCOM2513open the company in the software and then click on “Task” from the top bar and a following windowappears on our desktop screen. From here we will select “Quotes/Sales Orders” and sub window will appear on our screen asshown below. Now in order to create a sale order we will be clicking on “Sales orders…” and a followingwindow appears on our desktop screen.
  • 67. MUHAMMAD AHMED SHAHID L3F09BCOM2513 In the “Customer ID” field we will be entering the ID for the customer to whom we are going tosend the quotation. If the address was entered will creating that customer in the software then theaddress will automatically appear in “Bill To”. In “Date” we will enter the date of making sale order, in“Good Thru” we will be entering the date till which we want to send the goods ordered in sale order. In“SO No” , which is mandatory, we will be entering the sale order number for the reference of this saleorder so that we can easily find this sale order when required from sale order list in the software. Afterfilling all the required information to create the sale order in the window along quantity, Item,description, Unit price, tax and amount we save the sale order by clicking on “Save”. We can also createthe sale invoice or a sale order directly from a quotation. For this we will click on “task” and followingwindow will appear on our desktop screen.
  • 68. MUHAMMAD AHMED SHAHID L3F09BCOM2513 From here we will select “Quotes/Sales Orders” and sub window will appear on our screen asshown below. Now from this window we will click on “Quotes” and following window will appear on ourdesktop screen.
  • 69. MUHAMMAD AHMED SHAHID L3F09BCOM2513 From here we will click on “Open” at the top and select the required quotation which we wantto directly convert to sale invoice or sale order. After selecting and opening that required quotation wewill change the date of quotation as per the requirements of our sale invoice or sale order. Afterchanging the date we will click on “Convert” and following window will appear on our desktop screen. If we want to convert the quotation in a sale invoice then we will select the first option “Sale/Invoice”,enter the “Invoice #” and press “OK”. If we want to convert the quotation in a sale invoice and print itthen we will select the second option “Sale/Invoice and print now” and press “OK”. If we want toconvert the quotation in a sale order then we will select the third option “Sale Order”, enter the “SO #”and press “OK”.
  • 70. MUHAMMAD AHMED SHAHID L3F09BCOM2513 HOW TO MAKE A SALE INVOICE IN PEACHTREE ACCOUNTING SOFTWARE Sale invoice is prepared against the sales made to the customer. As soon as the goods are soldto the customer we make this sale invoice. We can make this sale invoice against the sale order for afterpreparing the sale order or we may also prepare this sale invoice without issuing the sale order. To makea sale invoice in Peachtree accounting software we first open the company in the software. Afteropening that window we click on “Task” from the top bar and following window appears on the desktopscreen. Now in order to make a sale invoice we click on “Sales/invoicing…” and following windowappears on our desktop screen. HOW TO RECEIVE THE CASH IN THE SOFTWARE To record the receiving of the cash from our customers we click on “Task” and following windowappears on the desktop screen.
  • 71. MUHAMMAD AHMED SHAHID L3F09BCOM2513 From here we select “Receipts…” and following window appears on our desktop screen. In this window we will first select the Customer from “Customer ID” from whom we are going toreceive the amount. After this we will enter the reference number, receipt number and date in therequired fields. As we select the customer from CUSOTOMER ID field the tab shifts from “Apply toRevenues” to “Apply to Invoice No:” and following window appears on our desktop screen.
  • 72. MUHAMMAD AHMED SHAHID L3F09BCOM2513 From here we will click on the “Pay” if the whole amount due is received against any invoicewhile if any part of the amount is received then we mention that amount in “Amount Paid” and thenclick on “Pay” and click “Save” to save the Receipt in the software. HOW TO RECORD SALES RETURN IN THE SOFTWARE To record the sales return in the software first we must make a sale. To make a sale we openour company in the Peachtree accounting software and click on “Task” from the toolbar at the top ofthe software. On clicking this “Task” option, following window on our desktop screen.
  • 73. MUHAMMAD AHMED SHAHID L3F09BCOM2513 From this window displayed on our desktop screen we will click on “Sales/Invoicing….” In orderto record a sale in the software. On clicking this option, following window appears on the desktopscreen. Here we will select a customer by mentioning the ID of that customer in “Customer ID” field andfill out all the necessary items required in order to record a sale in the software. Recording sales in thesoftware has been illustrated before in the guide. After recording the sales we will close the window and
  • 74. MUHAMMAD AHMED SHAHID L3F09BCOM2513will again click on “task” from the toolbar and from the options in the toolbar we will click on “CreditMemo” which is used to record the sale return from the customer. On clicking the “Credit Memo”,following window appears on our desktop screen. Here in the “Customer ID”, we will mention the ID of that customer to whom we have made thesales in the past and now that customer has returned some of the items to us. As we select theCUSTOMER ID the tab shifts from “Apply to sales” to “Apply to Invoice No:”. Following window appearson the desktop screen as the tab shifts to “Apply to Invoice No:”.
  • 75. MUHAMMAD AHMED SHAHID L3F09BCOM2513 From this window we will select the Invoice against which the returns are being made from theoption in front of “Apply to Invoice No:”. After this we will enter the date in the required field and CreditNo under the date option. After this we will just mention the quantity of items returned by the customerin “Returned” field and after entering the complete return we will click on “Save” option in order to savethe credit memo. To check whether the goods returned have been recorded in the financial reports ornot we click on “Reports” from the toolbar and following window appears on the desktop screen. From here we select “Account Receivable…” option and following window appears on ourdesktop screen on clicking this option.
  • 76. MUHAMMAD AHMED SHAHID L3F09BCOM2513 From here we can open the “Customer Ledgers” report and can see the returns made by thecustomer to us. HOW TO RECORD SALES RETURN IN THE SOFTWARE To record the purchase return in the software first we must make a purchase. To make apurchase we open our company in the Peachtree accounting software and click on “Task” from thetoolbar at the top of the software. On clicking this “Task” option, following window on our desktopscreen. From this window displayed on our desktop screen we will click on “Purchase/Receiveinventory….” in order to record a purchase in the software. On clicking this option, following windowappears on the desktop screen.
  • 77. MUHAMMAD AHMED SHAHID L3F09BCOM2513 Here we will select a vendor by mentioning the ID of that vendor in “Vendor ID” field and fill outall the necessary items required in order to record a purchase in the software. Recording purchase in thesoftware has been illustrated before in the guide. After recording the purchase we will close the windowand will again click on “task” from the toolbar and from the options in the toolbar we will click on“Vendor Credit Memo…” which is used to record the purchase return to the vendor. On clicking the“Vendor Credit Memo…”, following window appears on our desktop screen.
  • 78. MUHAMMAD AHMED SHAHID L3F09BCOM2513 Here in the “Vendor ID”, we will mention the ID of that vendor from whom we havemade the purchase in the past and now we are going to return some of the items to that vendor. As weselect the VENDOR ID the tab shifts from “Apply to purchases” to “Apply to Invoice No:”. Followingwindow appears on the desktop screen as the tab shifts to “Apply to Invoice No:”.
  • 79. MUHAMMAD AHMED SHAHID L3F09BCOM2513 From this window we will select the Invoice against which the returns are being made from theoption in front of “Apply to Invoice No:”. After this we will enter the date in the required field and CreditNo under the date option. After this we will just mention the quantity of items returned to the vendor in“Returned” field and after entering the complete return we will click on “Save” option in order to savethe vendor credit memo. To check whether the goods returned have been recorded in the financialreports or not we click on “Reports” from the toolbar and following window appears on the desktopscreen. From here we select “Account payable…” option and following window appears on our desktopscreen on clicking this option.
  • 80. MUHAMMAD AHMED SHAHID L3F09BCOM2513 From here we can open the “Vendor Ledgers” report and can see the returns made by thecustomer to us. HOW TO RECORD A JOURNAL ENTRY IN PEACHTREE SOFTWARE To record a journal entry in the Peachtree accounting software, we will first open our companyin the software and after owning the company in the software we will click on “Task” and followingwindow will appear on our desktop screen. Now from this window we will select “General Journal Entry…” in order to pass a journal entry inthe software. On clicking this, following window will appear on our desktop screen.
  • 81. MUHAMMAD AHMED SHAHID L3F09BCOM2513 This is the simple format of a general journal which is used to pass journal entries. Here we willenter the date of the transaction in the “Date” area. We can also give any reference ID to the recordedtransaction by mentioning that ID in “Reference” area. By mentioning this ID, searching transactions inthe general journal will become easy. In “GL Account” we enter the ID of the account which is involvedin the transaction. It can be any account like salaries expense account, wages account, commissionaccount, discount account or any account according to the situation. The first line is for debit while thesecond line is for credit. If there are two items in debit then first two lines can be used for debit itemswhile in contrary if there are two items of credit then two lines beneath the debit line or lines can beused to record the credit items in the general journal. In “Description” we can enter any descriptionrelated to the journal entry. In “Debit” we enter the debit amount while in “Credit” we enter the creditamount of the transaction. Like this the journal entry is passed and then saved by clicking on “Save”button at the top bar. HOW TO USE GLOBAL OPTION IN PEACHTREE SOFTWARE This option is one of the most important options in the whole software. As customer default isrelated to customers options, vendor default is related to vendor, so is the global option which is relatedwhich the most important options in the complete software. These options will be explained further in
  • 82. MUHAMMAD AHMED SHAHID L3F09BCOM2513this topic. To open a global options window we will click on “Options” after opening the window andfollowing window will appear on our desktop screen. From here we will select the option of “Global…” and on selecting this option following windowwill appear on our desktop screen. This is the main window of global options. From here we can edit the by default settings of someof the most important options of Peachtree accounting software.ACCOUNTING: “Accounting” is the first tab in this global window. In the first option we see, “Decimal Entry”option. This option is for the number of decimals after the zero. We can select the decimals as per ourrequirements from the option available by the name, “Number of decimal places”. The maximumnumber of decimals which we can select are “5”. We can also select the decimal placing automaticallyby clicking on “Automatic” then selecting the number of decimal places as per our requirements. But forthis we will have to first select the number of decimal places first and then the option of “Automatic”.Then after this we have “Hide general ledger accounts” option from where we can hide accountreceivables and account payables from different options in the software such as hiding the accountreceivable from sale order by selecting account receivable and same will be the procedure for accountpayable. In “Other Options” we can select different available options to implement them in ourcomplete software. All the settings made here will be implemented in the whole software. Afterchanging all these options or required options we click on “Ok” to save.GENERAL:
  • 83. MUHAMMAD AHMED SHAHID L3F09BCOM2513 This is the “general” window. The first option under “Improve performance” is to print the totalnumber of pages in the report or statements and number of quantity in hand display. The second optionis “Line item entry display”. If we select “1 Line” from here then it means that if we are entering ajournal entry in the general journal then we have one spare line beneath each debit line to enter theother item and if we select “2 Line” then we have two spare lines beneath each debit line to enter theother two items. Then we can also select the color theme for our software as per our taste.PEACHTREE PARTNERS: From here we can select the security level for our software. We can keep it Low, Medium orHigh as per our requirement.SPELLING:
  • 84. MUHAMMAD AHMED SHAHID L3F09BCOM2513 From here we can select the dictionary according to which we want our spellings to be checkedand this dictionary will we selected from “Main Dictionary Language” option. Then we have manydifferent option related to spell check and words in “Running Options”. HOW TO SET SECURITY CODE FOR PEACHTREE USERS If we are a firm in which there are many employees using the same Peachtree software like salesdepartment using sales invoices, HR departments entering the journal entries for payroll and relatedexpenses then we can lemmatize their authorities to their respective job. In this case we will have tocreate different users having different passwords and each of these users having their own accessibilityoptions and rights as per the employee job. But we must have at least one administrative accounthaving full access and control over the software. By using this administrative account we will be able toedit the control of other users and their rights. To create these users we must first open the company inthe software and after opening the window we will click on “Maintain” and following window willappear on our desktop screen. From here we select the option, “Users….” And on selecting this option following windowappears on our desktop screen.
  • 85. MUHAMMAD AHMED SHAHID L3F09BCOM2513 From here we click on ‘Ok” in order to move forward and following window appears on ourdesktop screen on clicking “Ok”. Here in this window we enter the User ID allotted to any employee in “User ID” field. This USERID can be numerical or can be alphabetical as per our requirements and then we allot a password toeach of these users in “Password” field. The password selected for these employees or users must beunique from one another. Same passwords will not be accepted by the software. We need to create oneadministrative user in which all the rights should be allotted completely so we will create a new user andwill save it by clicking on “Save” button at the top of the window. Then we need to create a user otherthan administrative user having limited authority over the software. For this we will again allot a uniqueID to the user and a unique password and will restrict him or her as per our requirements. We canrestrict the user by the “Control” tab. By clicking on it following window appears on our desktop screen. If we want to give no access to that user to System then we will click on “No Access” in thecontrol option in front of System and we can then further edit the control for other program areas asper our requirements. We can further edit the description portion for any program by clicking on theirrespective tabs above. For example, to change the description of Inventory we will click on the tab ofInventory. On clicking the tab of inventory following window appears on the desktop screen.
  • 86. MUHAMMAD AHMED SHAHID L3F09BCOM2513 From here we can edit the control over the program area inventory for any user. To edit thecontrol we click on Control option in front of required portion like if we want to make any change inMaintenance then we will click on control option in front of maintenance and on clicking it followingwindow will appear on the desktop screen. From here we can select the control as per our requirements and restrictions. Then after editingthe control we need to save these control made by clicking on “save” option at the top of the Maintainusers window task bar.