• Share
  • Email
  • Embed
  • Like
  • Save
  • Private Content
 

Setup of company peachtree 2008

on

  • 1,256 views

 

Statistics

Views

Total Views
1,256
Views on SlideShare
1,256
Embed Views
0

Actions

Likes
0
Downloads
21
Comments
0

0 Embeds 0

No embeds

Accessibility

Upload Details

Uploaded via as Microsoft Word

Usage Rights

© All Rights Reserved

Report content

Flagged as inappropriate Flag as inappropriate
Flag as inappropriate

Select your reason for flagging this presentation as inappropriate.

Cancel
  • Full Name Full Name Comment goes here.
    Are you sure you want to
    Your message goes here
    Processing…
Post Comment
Edit your comment

    Setup of company peachtree 2008 Setup of company peachtree 2008 Document Transcript

    • Setup of Company After the start of the Peachtree Program you have to set up a new company before entering data. For this click on File menu and select New Company After you have selected a new company following introductory screen will appear to guide you the rest of the process and tell you what informations are required for setting up of the company. You have to click the Next button. After that you will find the following screen. Hereyou will decide about the Peachtree Product. 1
    • Again by clicking Next button you will find the following screen. Here you will type the Company name, Address, Telephone, fax number, business type, website and email address. These information will be printed on every report. This information may be edited after the creation of the company. After typing all the above information you will be clicking the Next button and following window will appear. 2
    • You need to establish how your new company will be set up: Use a sample business type that closely matches your type of company: Select this option to copy basic setup information, particularly a chart of accounts, from a sample company. You can select either a simplified chart of accounts that contains only the basic accounts you need to get started; or you can choose a detailed chart. Depending on which version of Peachtree you are using your selections will vary. You can modify the accounts later, according to your needs. 3
    • Copy settings from an existing Peachtree company: Select this option if you want to copy setup information from another Peachtree company or you are rebuilding a Peachtree company. Convert a company from another accounting program: Select this option if you want to import company data from some other program. Build your own company: Select this option if you want to create a company from scratch. This option is only recommended for experienced users who are comfortable setting up accounting information. For users coming from a paper ledger, it is recommend that they select a business type (see above) that most closely matches their existing chart of accounts and then modify it as they have need. If you select this option, make sure you set up your chart of accounts prior to setting up any other part of the company. After you have decided about the method to create a company click Next. In the next window you will have to decide about the accounting method. The available accounting methods are Accrual and Cash. 4
    • Accrual Accounting:Income is recorded as you invoice customers, and expenses are recorded when you receive bills from vendors, regardless of when cash is actually exchanged. This presents a truer picture of income and expenses. Most companies use this method. Cash-Basis Accounting: Income is recorded when cash (checks, money orders, or currency) is received, and expenses are recorded when paid. However, unpaid credit sales and purchases do not show on ledgers, which can present a misleading picture of income and expenses. After deciding about the accounting method click next button. Following window will appear. Here you will be deciding about the Posting method. The software provides you two posting methods i.e. Real Time and Batch. Real-Time Posting: Transactions are posted to the journals and the general ledger as they are entered and saved. This method can save you time and is best for most business and network environments. Most companies use this method. Batch Posting: Transactions are saved by the program and then posted in a group. When you use batch posting, you can print registers and check the batch of transactions before posting them to the journals. 5
    • You can switch posting methods at any time. To continue setting up the company click Nextfollowing window will appear. Here chose an accounting period structure. Normally it is 12 month accounting periods per year. 6
    • Again click Next button and choose the first period (Month) of the fiscal year. After clicking Nextbutton you will find following finish window and buy clicking finish button the software will create you company. 7
    • General Ledger Now you have setup your company in Peachtree, it is recommended to establish Chart of accounts, General Ledger Defaults and Beginning Balance if any. To establish the charts of accounts click the Maintains menu and select “Chart of Accounts...” The following window will displayed 8
    • Here you have to type Account ID, Description and the most Important Account Type. Enter an account ID and description for the account. The account ID determines how the account is identified and sorted in the chart of accounts list and the General ledger account is displayed as typed in description. Most charts of accounts are set up with specific account types grouped together. Account types define how the account will be grouped in reports and financial statements. They also control what happens during fiscal yearend. General Ledger accounts are assigned types on the General tab of the Maintain Chart of Accounts window. Select an account type from the drop-down list and select Save to save the account. The account type should be selected carefully. If you are entering a Revenue account then its type will be Income so on. A simplified chart of account with Account ID, Description and Account Type is given at the end of the chapter. You can enter the Beginning Balances on the General tab. Select the Beginning Balances button. Peachtree displays the Select Period window. 9
    • Select the period in which you want to enter beginning balances. You can select from previous, current, or future periods. Select OK. Peachtree displays the Chart of Accounts Beginning Balances window. Click or tab to any of the white cells in the grid to add an amount. (The gray cells are for viewing purposes only.) Enter all the beginning balances for the accounts. Scroll the list box to make sure the account amounts are correct. If you are out of balance in the Beginning Balances for General Ledger Accounts window, Peachtree displays a warning message indicating that an equity account will be created (or updated) to contain the difference or out-of-balance amount. This account will be named Beginning Balance Equity, and its type is Equity-Doesn't Close. This account does not appear in the Beginning Balances window, but it will appear in the list of accounts and on financial statements and general ledger reports. 10
    • Try to find the reason for the out-of-balance situation, and correct it if possible. (Select Cancel when Peachtree displays the warning message.) If you are entering beginning balances from financial statements supplied by your previous accounting system or by your accountant, you most likely made an error in data entry. Make sure you didn't leave out an account or balance and that you entered all amounts correctly. When done close the window. Add a New Account in G/L Beginning Balances In the Beginning Balances window accessed from the Maintain Chart of Accounts window, select the New button. Peachtree displays the Enter New Account window. Enter an account ID and description for the account and also chose the appropriate account type and select OK. Delete an Account from the Chart of Accounts In order to delete an account from the chart of accounts, there must be no transactions posted to the general ledger that reference the account ID. If an account has a nonzero balance, you must delete or remove transactions associated with it. These can include beginning-balance entries. If an account has a nonzero balance, you can enter an adjusting G/L transaction in the General Journal to bring the account's balance to zero. Then, after two year-end closings, you can purge or delete the account. To make the account inactive You can make the account inactive to ensure that no further transactions are associated with it. Then after two year-end closings, you can purge the account. From the Maintain menu, select Chart of Accounts. Peachtree displays the Maintain Chart of Accounts window. 11
    • Select the account you want to make inactive. To display a list of existing accounts, type ? in the G/L Account ID field, or select the Lookup button. Select the Inactive check box to the right of the account ID. (There is an mark in the check box when it is selected.) 12
    • Sample Charts of Accounts ID Description Account Type 105 Cash in bank Cash 109 Petty cash Cash 110 Accounts receivable Accounts Receivable 118 Allowance for doubtful accts Accounts Receivable 120 Inventory Inventory 130 Prepaid expenses Other Current Assets 140 Property and Equipment 141 Land Fixed Assets 142 Building Fixed Assets 143 Leasehold improvements Fixed Assets 144 Furniture and fixtures Fixed Assets 145 Equipment Fixed Assets 146 Automotive equipment Fixed Assets 150 Accumulated Depreciation Accumulated Depreciation 152 Depr-building Accumulated Depreciation 153 Depr-leasehold improvements Accumulated Depreciation 13
    • 154 Depr-furniture and fixtures Accumulated Depreciation 155 Depr-equipment Accumulated Depreciation 156 Depr-automotive equipment Accumulated Depreciation 160 Other Assets 162 Long-term investments Other Assets 168 Due from officer Other Assets 200 Current Liabilities Account Type 202 Notes payable Other Current Liability 210 Accounts payable Accounts Payable 212 Accrued expenses payable Other Current liability 220 Wages payable Other Current liability 221 Income Tax Payable Other Current liability 222 Sales Tax Payable Other Current liability 250 Long-Term Liabilities 252 Mortgage payable Long Term Liability 261 Long-term note payable Long Term Liability 271 Due to officer Long Term Liability 300 Stockholders’ Equity 381 Common stock Equity does not close 390 Retained earnings Equity retained earning 14
    • 392 Dividends Equity gets close 400 Revenue 410 Sales 500 Cost of Sales 510 Cost of goods sold 600 Operating Expenses 610 Salaries and wages Expense 621 Advertising Expense 622 Amortiz leasehold improv. Expense 623 Automobile expense Expense 626 Bad debts expense Expense 627 Bank service charge Expense 632 Commissions Expense 638 Depreciation expense Expense 640 Dues and subscriptions Expense 643 Entertainment Expense 650 Insurance Expense 655 Interest expense Expense 657 Licenses and permits Expense 659 Miscellaneous expense Expense Income Cost of Sale 15
    • 660 Office expense Expense 666 Postage Expense 667 Professional fees Expense 668 Rent expense Expense 669 Rental of equipment Expense 672 Repair and maintenance Expense 690 Telephone Expense 691 Travel Expense 695 Utilities Expense 700 Other Income (Expense) 710 Interest income Income 790 Miscellaneous income Income 895 Income tax expense Expense 16
    • Sales Navigation Center The Customers & Sales Navigation Center displays information and access points related to your company's customers. It includes a summary of customer information, access to recently used customer reports, and an overview of your company's aged receivables. In addition, the Navigation Center shows the flow of customer-related tasks and takes you where you need to go to perform those tasks. 17
    • Default Information – Customer Customer Defaults Peachtree lets you set up default information for customers. Use this feature like a template or model upon which to build all your customer records. You enter the most common information. Then, when you set up new customers and enter transactions, the default information is automatically included. In most cases, you won't have to enter anything. A name and address is all that's required; then you're ready to invoice! To set up or review customer defaults From the Maintain menu, select Default Information and choose Customers. Default information for customers includes: Standard customer payment terms General Ledger accounts for sales and discounts Aging information for invoices due Custom field labels Finance charge rules and label Customer payment methods Most of this information is set up for you during New Company Setup. However, you change these defaults at any time. Tabs in customer default window Term and Credit Account Aging Custom Fields Finance Charges 18
    • Pay Methods 1. Payment Terms To set up default (standard) payment terms for your customers and default sales and discount G/L accounts, select the Payment Terms tab in the Customer Defaults window. Standard Terms If the Use Standard Terms check box is selected for a customer record in the Maintain Customers/Prospects window, that customer uses this default set of payment terms. Below are the fields that define standard terms: C.O.D, Prepaid, Due in number of days, Due on day of month, Due at end of month: Select one of these to tell you the type of payment your customers make. Net Due in ... Days: Enter the number of days past the invoice date before the invoice becomes due. Discount in ... Days: Enter the number of days past the invoice date beyond which you will not allow customers to get discounts. Discount %: If payment is made within the Discount Days range, enter the percent of the total invoice amount that you will allow to customers as a discount. Enter fractions as decimals; for example, two-and-one-half percent should be entered as 2.5. Credit Limit: Enter the total amount of credit you allow your customers. G/L Link Accounts The defaults are used to link sales income and sales discount G/L accounts to most of your customers. You change individual customer setup, if necessary. 19
    • G/L Sales Account: Enter or select the account ID you want to use as the default sales (income) account when entering customers. You must enter an account number here. Discount G/L Account: Enter the number of the account you want to use for discounts. You must enter an account number here. To display a list of existing accounts, type ? in the G/L Account ID field, or select the Lookup button. To add a new account, type + or double-click the field, which displays the Maintain Chart of Accounts window. 2. Account Aging To set up how sales invoices are aged and what aging brackets will be used for accounts receivable, select the Account Aging tab in the Customer Defaults window. Age Invoices By Choose either Invoice Date or Due Date. If you age by invoice date, this will show how old each customer invoice and balance is. If you age by Due Date, this will show how overdue each customer invoice is. Many people choose to age customers by Invoice Date and vendors by Due Date. Aging Categories Use this to set the ranges of days and the column headings for the Aged Receivables report and the Collection Manager. The columns print from left to right starting with the 1st column. The # of Days field can be either the number of days beyond the invoice date or beyond the due date, depending on what you enter in the Age Invoices By field. For example, entering 30 for the 1st column would display all current invoices 30 days late. Entering 60 for the 2nd column would display all invoices that are between 31 and 60 days overdue. Entering 90 in the 3rd 20
    • column displays all invoices that are more than between 61 and 90 days overdue. The fourth column will show all invoices that are more than 91 days overdue. 3. Custom Fields To set up custom field names for your customer records, select the Custom Fields tab in the Customer Defaults window. Custom fields offer you a way to keep track of specific information your business needs. Each business is unique. While Peachtree already provides fields to record most common business data, you probably require other information from time to time. Custom fields let you set up and store that unique data. You use the custom fields to set up fields that aren't available in the Maintain Customers/Prospects window. For example, you can label customers by location (in-state, out-of-state, international). You would enter the label as Location. When you are entering a customer, you would enter his location under the Custom Fields tab. Select the Enabled check box to enter or change the field label. If you decide not to use a field, clear the Enabled check box. The data will remain, but it will be inaccessible. If you decide you want to use the field label again, select the Enabled check box, and the program will make the data available. There are three steps to setting up and recording custom fields: 1. Set up and enable custom field names in Customer Defaults. 2. Enter custom field data for each customer record in Maintain Customers/Prospects. 3. View and print the data in Accounts Receivable reports. 4. Finance Charges To set up when and how finance charges are calculated for your customers, select the Finance Charges tab in the Customer Defaults 21
    • window. Finance charges (also known as late fees or service charges) can be calculated and applied to your customers for invoices that are past due. These charges will appear in your customer statements. Note: Finance (late) charges are not applied automatically in Peachtree. This is done from the Task menu by selecting Finance Charges. Charge Finance Charges In order to apply finance (late) charges, the Charge Finance Charges option must be selected in Customer Defaults. Once finance charges are activated, you can set conditions for calculating finance charges. Charge Finance Charges ... On Invoices XX days overdue: Enter the point at which finance charges should be applied to overdue invoices. For example, a finance charge will be imposed on the balance due after a 30-day grace period. Finance charges are calculated from the first day the invoice becomes overdue, not from the beginning of this grace period. On Invoices up to: Enter the balance amount over which the second interest rate will apply. On balances below this rate, the rate in the Annual Interest Rate field will apply. On balances over this amount, the second interest rate applies. This lets you offer different rates to customers depending on the balance their accounts carry. Annual Interest Rate: Enter the annual interest rate for balances at or below the specified dollar amount. Maximum Annual Interest Rate: Enter the annual interest rate for balances above the specified dollar amount. If you want to enter only one rate, enter the same amount in both boxes. Minimum Finance Charge: Enter the minimum finance charge dollar amount that will apply when a customer is late with a payment. If the calculated amount is less than the minimum displayed here, the minimum amount will be used. The default minimum amount is 50 cents. 22
    • Charge Interest on Finance Charges: Select this check box if you want to compound late charges. In other words, do you want to charge late charges on late charges? Note: This is not allowed by law in some states. Check your local regulations before choosing this option. Finance Charge G/L Account: This identifies the G/L account that will be used when applying finance charges (for example, Finance Charge Income). Appears on invoices and statements as: Select how you want your finance charges to appear on sales invoices and customer statements from the drop-down list. Choose Late Charge, Finance Charge, or enter your own label (for example Late Fee, Service Charge, Participation Fee, and so on). You can enter up to 20 alphanumeric characters. If the Charge Finance Charges check box is selected, then this field is required and cannot be blank. Important: Some state regulations do not allow businesses to use the term "Finance Charge" on customer statements when billing for past due balances. Only banks are allowed to use this term in these states. Check with your accountant to ensure that this regulation does not apply to your area. Print finance charge warning message (on invoices) as Select this check box if you want Peachtree to print a message on invoices that warns about incurring finance (late) charges. Enter the message you want to print on the invoice in the Finance charge warning message field below the check box. For example, "Overdue invoices are subject to late charges." Tip: You can also use this message to display a standard thank-you message, advertising message, or company announcement on all invoices. 5. Pay Methods 23
    • To set up payment methods for your customers or deposit ticket ID properties, select the Payment Methods tab in the Customer Defaults window. Customer Payment Methods Enter up to 10 payment methods that your company accepts from customers. The payment methods you enter here will appear in a list on the Sales/Invoicing and Receipts windows. A few examples are: Cash, Check, AutoDeposit, AMEX, Discover, MasterCard, and VISA. To learn more about payments and how to set them up, click . Assign Deposit Ticket IDs You can choose to have Peachtree assign deposit ticket IDs to customer payments either at the time a receipt is recorded in the Receipts window or at the time the receipt is selected for deposit and printed from the Select for Deposit window. In Receipts: Select this option if you want Peachtree to assign a deposit ticket ID at the time a customer payment is recorded in the Receipts window. As soon as you enter the window, Peachtree will assign a deposit ticket ID to the transaction and will also automatically assign a deposit ticket date based on the deposit ticket ID. Note: To access existing deposit tickets using this method, you must click the Open button in the Select for Deposit window. In Select for Deposit: Choose this option if you prefer to leave the Deposit Ticket ID field in the Receipts window blank and assign a deposit ticket ID at the time a receipt is selected for deposit in the Select for Deposit window. You can also enter a Deposit Ticket Date of your choice rather than have one automatically assigned by Peachtree. This will allow you to group multiple deposit tickets under a single deposit 24
    • ticket date, which can be convenient for tracking receipts that you select for deposit. Default Information – Statement/Invoices Defaults Statement/Invoices Defaults Peachtree lets you set up default information for printing customer statements and sales invoices. These options let you customize your customer statements and invoices including print options and dunning messages. The defaults you enter here are used throughout Peachtree. You cannot customize this information for an individual customer. To set up or review customer statement and invoice defaults, select Default Information from the Maintain menu, and choose Statement/Invoices. Tabs in statement/Invoices Default window Statement Print Options Dunning Messages 1. Statement Print Options (Statement/Invoices Defaults) You can define which customer accounts you want to print statements for and whether you want to print your company’s name and address on invoices and statements. 25
    • To set up print options for customer statements and invoices, select Maintain>Default Information>Statement/Invoices, and click the Statement Print Options tab. Activity and Balance Print Options Whenever you print statements, you can print a range of customers. However, you may not want statements for customers with zero balances, credit balances, balances under a certain amount, or invoices barely overdue. Select any of the activity and balance print options. Each one is independent of the others. For example, you can select Balances at least and enter an amount. But if you also select Any activity, statements could be printed for customers with a zero balance if there was any activity in the account. The options do not affect each other. Print statements for accounts with: 26
    • Select Any activity since the last statement was printed if you want to print statements for customers with any activity since the last customer statement was printed. Select Balances at least... and then enter the balance amount if you want any customer whose balance due is that amount or greater to receive a statement. Select At least one invoice... days past due and then enter a number in x days past due (if you want any customer who has an unpaid invoice that is overdue by that number of days or more to receive a statement). Note: If you do not select any of the above options and select Never for the Negative and Zero Balance options below, no statements will ever print, despite the customer range selected in reports. The following print options describe zero and negative balance conditions. Negative balances: This determines whether customer accounts that have a negative or credit balance will receive statements. Choose Always, Only when the above options apply, or Never. Zero balances: This determines whether customer accounts that have a zero balance will receive statements. Choose Always, Only when the above options apply, or Never. Company Print Option Print your company name, address, phone, and fax on invoices and statements: If you use invoice and statement forms with your company’s name and address already printed on them and you run out of forms, you can choose this option. Peachtree will print this information on plainpaper versions of invoice and statement forms. When you receive a new supply of forms, you can change the option back. 2. Dunning Messages (Statement/Invoices Defaults) In addition to deciding which customers should receive statements, you can decide which dunning messages are printed on each statement. Dunning messages are notices on customer statements that indicate how 27
    • far the current account balance is overdue and usually demand prompt payment. Dunning messages can vary in severity depending on the length of time that a customer's account is overdue. To set up dunning messages for customer statements, select Maintain> Default Information>Statement/Invoices, and click the Dunning Messages tab. You can set up to four different dunning messages in Peachtree based on how long their account is overdue at the time statements are printed. The specific messages print when the number of days of the customer's most overdue invoice is lower or equal to the number in the box. For example, if the first message is to print for 30 days, customers whose invoices are 1 to 30 days overdue will see the message on their invoices. The fourth message will print on any invoices that are older than the number of days entered into the third message box. You can enter up to 40 characters for each message. 28
    • Below is an example setup: Invoices <0 days overdue: Thanks for your business. Invoices <30 days overdue: You may have forgotten this bill. Thanks for your attention. Invoices <60 days overdue: Please attend to this payment as soon as possible. All other invoices: Your account is severely overdue and has reached collection status. Tip: You can set the first message at 0 days and enter a "Thank you for your patronage" message, advertising message, or announcement. Maintain a Customer Prospects Use the Maintain Customers/Prospects window to enter, change, and store information about companies and people to whom you sell goods and services. You can also enter information about companies and people with whom you would like to do business (prospects). To maintain a Customer/Prospects you have three options: 1. Click on Maintain menu and then select Customers/Prospects… 2. You may also select the option from Customers & Sales Navigation Center by clicking on Customers and then selecting New Customers 29
    • 3. Alternatively you may Type “+” or double-click inside the Customer ID field of any task (transaction) window. In both cases following window will appear. In this window you will be entering or viewing the following information about the customer/prospects. Name and address information, including separate billing and shipping information, e-mail address, and Web site address, in General tab The date of the last invoice, statement, and payment received and Sales history, including year-to-date and period-to-date sales and monthly totals, in history tab The usual sales account used for this customer,in Sales info tab The preferred method of payment for this customer, in payment and credit tab Terms of payment and the sales tax code, in address tab The customer's beginning balance, in history tab 30
    • Details of the Header field Customers/Prospects window and tabs in 1. Header Fields Customer header fields are located above the folder tabs of the Maintain Customers/Prospects window. This is where you enter lookup information about the customer such as the customer ID, name, and status. Customer ID:Use this field to create a unique ID for this customer. If you leave the ID field blank, Peachtree will create an ID based on the Name you enter (provided this option is selected in Global Options.) When entering transactions, you can enter the ID or the Name to identify the customer. You can sort and filter reports and lookup lists using the Customer ID. 31
    • Back and Next:Use these buttons to navigate through the list of existing customer records by ID. Select the Back (left arrow) button to see the previous record in the list; select the Next (right arrow) button to see the next record in the list. Name:Enter up to 39 alphanumeric characters for a new customer's name. Prospect:If you check this box, this company or person is not included on any customer reports. If you generate an invoice for the prospect or clear the check box, the prospect becomes a regular customer and is included on customer reports. Inactive: If you plan to purge this customer when you close the fiscal year, select this check box. Once a customer record is inactive, Peachtree displays a warning if you try to make a sale to the customer. You can update the customer record with address and telephone information. Important: When you choose to Purge after closing the fiscal year, all customers that have no outstanding transactions and are tagged as inactive will be purged. 2. General Tab In General tab you may enter basic information about the customer such as contact information, address, phone and fax numbers, sales tax ratand beginning balances. Customer Address Tab Use this tab to keep track of all the addresses associated with this customer. On this tab, you can enter address information for an unlimited number of ship addresses for this customer. Simply enter the information in the grid in the appropriate row, or copy the Billing Address to one of the Ship Address rows by selecting that Ship Address in the Copy Billing Address to field and clicking Copy. The Billing Address is displayed at the top of the tab. 32
    • When you click the Copy to Ship Address 1 button on the General tab, the address information will be added on this tab in the Ship column under 1. 3. History Tab To display the selected customer's current history, select the History tab in the Maintain Customers/Prospects window. When entering a new customer, you can enter information on this tab; once you save the customer record, this tab is for display purposes only. From this window, you can set up your customer beginning balances, by clicking the customer beginning balances button. After you click on the customer beginning balances button following window will appear where you have to type the invoice number, date, Purchase order No., Amount and AR GL Account. You may also track the following information about you customer Customer Since:This is the date when you first made a sale to the customer. 33
    • Last Invoice Date: This is the date of the last invoice you sent to the customer. Last Invoice Amt: This is the amount of the last invoice. Last Payment Date: This is the date of the last payment you received from the customer. Last Payment Amt:This is the last payment amount you received from the customer. Last Statement Date: This is the date of the last statement you sent to the customer. 4. Sales Info Tab Sales Rep: You may enter the sales representative that has contact with the customer. The sales representative must have already been entered in the Maintain Employees/Sales Reps window. GL Sales Account: Enter a General Ledger account for the default sales account for this customer. If you have already maintained the customers default information, you will find this field filled. Open P.O. Number:This is the standing purchase order number you can use for this customer. This defaults on the Quotes, Sales Orders, and Sales/Invoicing windows. Ship Via: You can select the primary shipping carrier you want to use to ship items to this customer. Whatever you select here will default for sales transactions you enter for this customer. Resale Number: If this customer purchases items for resale, enter the resale number here. Resale numbers are required by most states for businesses that sell taxable goods. It enables the business to sell goods to other businesses for resale without charging a tax or to buy goods from other businesses for resale without paying a tax. If a customer intends to 34
    • resell your goods, enter the customer's resale number (also called seller's permit) here. Pricing Level:You can choose from various pricing levels that are set up in the Maintain Inventory Items window when invoicing your customers. Price level names are set up on the Price Level tab of the Inventory Item Defaults window, which you can open by clicking the link to the right of the field. Note that you must save this customer record before you will be able to add any new Shipping methods that were created while you had the window open. Form Options:This group box includes options that determine how forms are delivered to customers either when you choose the E-mail button on task windows or print forms from the Select a Report or Form window. E-mail sales rep when using batch processing to send forms: Select this to automatically send an e-mail copy of the form to the default sales rep (whose ID appears in the Sales Rep field) whenever you send a form to the customer. 5. Payment & Credit Tab On this tab you can set up credit card information for customers, as well as Receipt settings and customers' terms and credit. 35
    • Sales Quote Quotes are printed estimates for a possible sale that can be presented to either a new prospect or recorded customer. You can also set up expiration dates for entered quotes. When you print or save a sales quote, you do not actually update accounting information. The sale is recorded and accounting information updated when you convert the quote to a sales invoice. To convert a quote to a sales order or to a sales invoice, select the Convert button in the Quotes window. To change the display format of the Quotes task window, select the Template toolbar button. Choose the Product or Service predefined template, one of your own templates, or the Customize Templates option. Templates are designed by hiding one or more data-entry fields that are not needed for unique tasks. Enter a Product Sales Quote From the Task menu select Quotes/Sales Order, then select Quotesfrom the sub menu You may also select the option from Customers & Sales Navigation Center by clicking on Quotes and then selecting New Quotes 36
    • In either case following window will appear. To enter a quote that uses inventory items (when the quote window is open), follow these steps: 1. In the Quotes window, select the Layout toolbar button, and choose the predefined Product template from the pull-down menu. Note: This procedure assumes you are using the predefined Product template. If you choose a customized template, please adjust the instructions below accordingly. For more information on templates, click . 37
    • 2. Enter or select the customer ID. To display a list of existing customers, type ? in this field, or select the Lookup button. To add a new customer, type + or double-click the field, which displays the Maintain Customers/Prospects window. When the customer is selected, Peachtree supplies the customer default information, including billing and shipping addresses, sales account, shipping method, payment terms, and sales tax ID. 3. Leave the Quote # field blank if you want Peachtree to print the quote. Peachtree will increase the quote number by one when it is printed. Otherwise, enter a quote number or other reference number. (If you print the quote with a quote number assigned or print it again later, the invoice will have the word DUPLICATE on it.) 4. Enter the date of the quote if it is different from the displayed date. Then, enter the date that the quote will expire. 5. If you have entered a default shipping address in the customer's record, the first shipping address appears on the quote. You can select another shipping address from the choices available in the Ship To drop-down list, or manually enter another address in the Ship To fields. 6. If you have entered a default P.O.# in the customer's record, it appears on the quote. If not, you can enter the customer's purchase order number now or change the default to any other piece of information that will identify this quote to the customer. 7. If you have entered a default shipping method in the customer's record, it will appear. You can select the Ship Via button if you want to select a different shipping method. You can also enter a ship date. 8. Peachtree uses the default terms you have entered for the customer, but you may want to select the Terms button to change the default discount dates or amounts for this quote. When a receipt that qualifies for an early-payment discount is applied against the invoice, Peachtree will calculate the discount. 9. If you entered a default sales representative in the customer's record, it will appear. Otherwise, select the code of the sales representative, if applicable. 10. Enter the information for each item included on the quote on a separate line, including the item's quantity, item ID, description, unit 38
    • 11. 1. 12. 13. 1. 14. 15. 16. 17. price (the number of decimal places is selected in Global Options), sales tax status, and job information (if applicable). The default G/L sales account that appears for each line item is based on the customer sales account default or the item ID selected. To change the account ID, type ? in this field, or select the Lookup button. To add a new account, type + or double-click the field, which displays the Maintain Chart of Accounts window. Note: If you have the Hide General Ledger Accounts global option activated, Peachtree will not display G/L Account fields in this window. To modify G/L accounts used for this transaction, you must select the Journal button. Continue entering line items until you have entered them all. If yours is an accrual-based company, you can select the accounts receivable G/L account for this potential sale. On financial statements this will be your accounts receivable asset account. If yours is a cash-basis company, this field will display <Cash Basis>. Note: If you have the Hide General Ledger Accounts global option activated, Peachtree will not display the A/R Account field in this window. To modify the A/R account used for this transaction, you must select the Journal button. Select the sales tax ID for this sale. If you intend to charge freight for shipping this order, include an amount in the Freight field. At the bottom left corner of the window, the selected customer's balance, credit limit, and credit status is displayed. You can click the arrow button to the right of the customer balance to display the current Customer Ledgers report for this customer. Select the Print button if you want to print and save the quote. Otherwise, click the Save button. Note: Quotes are not posted to general ledger. When you convert the quote to an invoice, the sale can be posted to the general ledger. Quotes can also be converted to sales orders, but again you must invoice the customer to actually post the sale. 39
    • Convert a Quote to an Invoice or Sales Order 1. From the Customers and Sales Navigation Center click on Quote and then select View and Edit Quotes Following window will appear which displays all the available sales quotes. You may open the desired sales quote by double clicking thesales quote displayed. 2. OR you may open the sale quote by clicking the Task menu select Quotes/Sales Order, then select Quotes from the sub menu 40
    • and when the window open use these buttons to view the desired sales quote. 3. When the sales quote opens change the date and other information as required. 4. When the quote is displayed, select the Convert button Peachtree displays the Convert Quotes window. . 5. Choose what you want to convert the quote to. You have three choices. o Sale/Invoice: The quote will be available for editing on the Sales/Invoicing task window. If you have an invoice number for this quote already and will not print the invoice, enter it in the Invoice # field. You can also leave the Invoice # field blank so you can print the assigned number later. o Sale Invoice and Print Now: This option allows you to convert the quote to an invoice and immediately print the invoice. Peachtree opens the standard windows for selecting the invoice form you want to use and provides you with the starting invoice number. o Sales Order: This option allows you to convert the quote to a sales order, so you can send partial shipments of items on the quote if, for example, some of the items on the quote are not in stock. Peachtree will display the 41
    • next available sales order number and assign it when you convert the quote. Note: When you convert a quote to a sales order, Peachtree checks available inventory to fill the sales order. If the quantity on the sales order exceeds the quantity on hand, a warning is issued (only if the Warn if inventory item is out of stock box on the Maintain Global Options window is selected). This does not prevent you from selling the item, it just warns you that there is not enough of the item to complete the sales order. After you select the option you want to use, select OK, and the quote is converted and the accounting information is updated. When you convert a quote, the quote number is retained for reference. You cannot edit the quote in the Quotes task window, but you will be able to see what the original quote number was from the new task window. 42
    • Sales Orders Sales orders let you enter items for a customer, then invoice and ship the items as they become available in your inventory, tracking the backorders in the system. You can view inventory reports that show the number of items backordered for your customers to help you plan your purchases. To open Peachtree's Sales Order window, select Quotes/Sales Orders from the Tasks menu. Then choose Sales Orders. Sales orders can be printed as warehouse picking slips or package packing slips that can be marked up before shipping the product to your customer. After the sales order has been marked up, the shipped items can be applied to an invoice. Only one sales order can be applied to an invoice. However, multiple invoices can be entered from a single sales order. To change the display format of the Sales Orders task window, select the Template toolbar button. Choose the Product predefined template, one of your own templates, or the Customize Templates option. Templates are designed by hiding one or more data-entry fields that are not needed for unique tasks. Enter a Sales Order Following is the process of entering sales order. 1. From the Tasks menu, select Quotes/Sales Orders; then select Sales Orders from the submenu. 43
    • 2. Alternatively you may also select the option from Customers & Sales Navigation Center by clicking on Sales Order and then selecting New Sales Order 3. Following window will appear 4. Enter or select the customer ID. When the customer is selected, Peachtree supplies the customer default information, including billing and shipping addresses, 44
    • sales account, shipping method, payment terms, and sales tax code. 5. Enter a sales order number if you want to change the one Peachtree automatically enters. If you have not previously entered a sales order, this field is blank. Once you enter the first one, Peachtree automatically increases the number by one. 6. Enter the date of the sales order if it is different from the displayed date. 7. Enter the date by which the order should be shipped. Use this date to help you remember to follow up on the order and manage the required inventory. Once entered, this date will show up in a number of sales order reports: Picklist report, Sales Backorder report, Sales Order Register, and Sales Order report. 8. If you have entered a default shipping address in the customer's record, the first shipping address will appear on the sales order. Change the customer's ship-to information, if necessary, by selecting the arrow button next to the Ship To address field. 9. Enter the customer's purchase order number now or change the default to any other piece of information that will identify this sales order to the customer. 10. If you have entered a default shipping method in the customer's record, it will appear. You can select the Ship Via button if you want to select a different shipping method. 11. Peachtree uses the default terms you have entered for the customer, but you may want to select the Terms button to change the default discount dates or amounts for this sales order. When a receipt that qualifies for an early-payment discount is applied against the invoice, Peachtree will calculate the discount. 12. If you entered a default sales representative in the customer's record, it will appear. Otherwise, select the code of the sales representative, if applicable. 45
    • 13. Enter the information for each item included on the sales order on a separate line, including the item's quantity, item ID, description, unit price Note: When you enter a quantity for a sales order, Peachtree checks available inventory to fill the sales order. If the quantity on the sales order exceeds the quantity on hand, a warning is issued (only if the Warn if inventory item is out of stock box on the Maintain Global Options window is checked). This does not prevent you from selling the item, it just warns you that there is not enough of the item to complete the sales order. 11. The default G/L sales account that appears for each line item is based on the customer sales account default or the item ID selected. To change the account ID, type ? in this field, or select the Lookup button. To add a new account, type + or double-click the field, which displays the Maintain Chart of Accounts window. 12. If yours is an accrual-based company, you can select the accounts receivable G/L account for this potential sale. On financial statements this will be your accounts receivable asset account. If yours is a cash-basis company, this field will display <Cash Basis>. 13. Select the sales tax code for this sale. 14. If you intend to charge freight for shipping this order, include an amount in the Freight field. 15. Select the Print button if you want to print and save the order. Otherwise, click the Save button. Note: Sales orders are not posted to general ledger. When you apply this sales order to a customer invoice (after shipping the items ordered or performing services requested), the sales order data is transferred to the sales invoice. Then, the sale can be posted to the general ledger. Convert a Quote to an Invoice or Sales Order 46
    • Same as stated earlier in Quote section Track Sales Orders Using the "Ship By" Date When you enter a sales order in the Sales Orders window, you can enter a Ship By date that will help you track the order as well as manage the inventory needed to fill it. Once you enter the Ship By date and save the sales order, Peachtree lets you create a Sales Orders to Ship event that will show up on the Events tab of the Action Items window. In turn, this event then shows up in the Customer Event Log for the customer who placed the order. Peachtree also helps you track your orders by including the Ship By date in the following sales order reports: Picklist report, Sales Backorder report, Sales Order Register, and Sales Order report. While reviewing your reports, you'll see at a glance when the order needs to go out the door. Creating an event for the sales order to ship When a sales order has a Ship By date entered for it, you can create a "Sales Order to Ship" event that will show up in Action Item Events. 1. From the Tasks menu, select Action Items. 47
    • 2. Select the Options toolbar button . 3. In the Action Items and Event Log Options window, select the Transactions tab. 4. Locate the "Sales Orders to Ship" event type, and then select the Create Event and Display in Action Items check boxes. 48
    • 5. In the # of Days column, select the number of days before or after the event date you want the event to show up in Action Items. 6. In the last column, select whether you want the event to appear before or after the event date. 7. Select OK. Now, to verify that the event is appearing in Action Items, select the Events tab, and look for the Sales Orders to Ship event. The Notes column for this event shows the sales order number, date, and dollar amount. When you have shipped all items appearing on the sales order, Peachtree automatically checks the check box in the first column of the event line to indicate that the event has been completed. Verifying the event in the Customer Event Log and Create Event windows Once you have created the "Sales Order to Ship" event, Peachtree automatically creates a Customer Event Log entry for the event. To verify this, do the following: 49
    • 1. From the Peachtree Maintain menu, select Customers/Prospects. 2. In the Maintain Customers/Prospects window, select the appropriate customer or prospect, and then select the Log toolbar button . 3. The Customer Event Log window appears. Note that one of the listed events is "Sales Order to Ship." To review the event, highlight the Sales Order to Ship line, and either double-click it or select the Event toolbar button. 50
    • 4. The Create Event window appears with the sales order to ship noted as a system event. Since it is system generated, you won't be able to edit the event, although you can add a note in the Note text box. If you have chosen to display the event in Action Items, at the bottom of the window the Display in Action Items check box will be selected, and Peachtree will display your choice of when the event will appear in Action Items. 5. If you want to change any of these settings, including removing the event altogether from Action Items, you can do so. To remove the event, uncheck the Display in Action Items check box, in create event window (shown above) 51
    • Sales Invoicing To sell items on a sales order, open the Sales/Invoicing window, select the customer, then choose the open sales order you want to invoice. Once you enter the quantity of items you are shipping, you can print this invoice and have Peachtree assign an invoice number, or you can enter an invoice number if the invoice was prepared manually and you will not print it from Peachtree. 1. From the Tasks menu, select Sales/Invoicing. 2. Peachtree displays the Sales/Invoicing window. Enter the or select the customer ID. If the customer has open sales orders, the Apply to Sales Order # tab appears in front. 3. Enter the invoice number in the Invoice # field. 52
    • 4. From the drop-down list on the Apply to Sales Order # tab, select the sales order number that you want to ship items from. Peachtree displays the items on the order in the line-item list. The first two columns in the line-item list, the Item ID and Remaining columns are gray, meaning you cannot edit them. To edit a sales order, you must open the sales order in the Sales Order window. The Remaining column shows the number of items left to be shipped to complete the sales order. For example, if there were 20 units on a sales order and you have previously shipped 15 of them, when you ship additional items, the Remaining column will show that 5 units still need to be shipped. 5. Enter the quantity of the item you plan to ship from the sales order. 6. If necessary, you can edit the information for each item included on the invoice, including the item's description, unit price 7. The default G/L sales account that appears for each line item is based on the customer sales account default or the item ID selected. To change the account ID, type ? in this field, or select the Lookup button. To add a new account, type + or double-click 53
    • the field, which displays the Maintain Chart of Accounts window. Note: If you have the Hide General Ledger Accounts global option activated, Peachtree will not display G/L Accounts field in this window. To modify G/L accounts used for this transaction, you must select the Journal button. 8. You can apply reimbursable expenses to the invoices if this customer is associated with a job and you have entered related job expense transactions. 9. If yours is an accrual-based company, you can select the accounts receivable G/L account for this potential sale. On financial statements this will be your accounts receivable asset account. If yours is a cash-basis company, this field will display <Cash Basis>. 10. If you have received a partial or full payment for this invoice at the time of the sale, select the Amount Paid at Sale button. Peachtree displays the Receive Payment window, where you can enter receipt information. The Net Amount Due displays what the customer currently owes for the sale. 11. Select the Print button if you want to print and save the invoice. Otherwise, click the Save button. Receipts 54
    • This allows you to enter all checks, cash, and credit card slips you receive and deposit them in your checking account. There are two ways you can account for receipts in Peachtree: If you sent an invoice to a customer, you apply the receipt to the invoice. Invoices entered in the Sales/Invoicing window appear as distribution lines when you enter the customer ID. You can check the Pay column beside each invoice being paid in full by this receipt. To do select Receipts from Task menu Following window will appear. Here you select the cash account which will be debited in case of receipts. 55
    • If you made a direct sale that didn't require an invoice, you use Receipts and enter it on the Apply to Revenues tab. This requires you to specify a check number and sales account. You can enter as many as 500 lines per receipt. If you set up the Distribution list box for two lines in the Global Options selection of the Options menu, descriptions of the item, job, and account appear in the second line. If your customer is paying by credit card, click the Process Credit Card button to enter credit card information and the transaction authorization code. If the credit card payment was authorized and an authorization code was entered in the Credit Card Information window, "(Approved)" appears beside the ProcessCredit Card button. If any field on this screen is grayed out, then it is unavailable for editing or entering information. 56
    • Purchases Vendors & Purchases Navigation Center The Peachtree Vendors & Purchases Navigation Center displays information and access points related to your company's vendors. It includes a summary of vendor information, access to recently used vendor reports, and an overview of your company's aged payables. In addition, the Navigation Center shows the flow of vendor-related tasks and takes you where you need to go to perform those tasks. 57
    • Setup and Maintain Vendor Defaults To set up Default Information – Vender Default Peachtree allows you to set up default (common) information for vendors. Use this feature as a template or model and build all your vendor records on it. Enter basic setup information that applies to most of your vendors and purchase transactions in the Vendor Defaults window. Then, when you set up new vendors and enter transactions, the default information is automatically included. This can save a great deal of time during data entry. Default information for vendors includes: Standard vendor payment terms General Ledger accounts for purchases and discounts Aging information for invoices due Custom field labels 1099 settings, which establish how 1099 calculations will be made for each of the General Ledger accounts in a company's chart of accounts The procedure is from the Maintain menu, select Default Information, and choose Venders to display the following window 58
    • Following window will appear. Tabs in Vendor Default window: 1.Payment Terms 2.Account Aging 3.Custom Fields 4.1099 Settings 1. Payment Terms (Vendor Defaults) To set up default (standard) payment terms for your vendors and default purchase and discount G/L accounts, select the Payment Terms tab in the Vendor Defaults window. 59
    • Standard Terms If the Use Standard Terms check box is selected for a vendor record in the Maintain Vendors window, that vendor uses this default set of terms. Below are the fields that define standard terms: C.O.D, Prepaid, Due in number of days, Due on day of next month, Due at end of month: Select one of these to tell you the type of payment you need to make. Net Due in ... Days/Due on the ...: If you chose the Due in number of days option, enter the number of days past the invoice date before the invoice becomes due. If you chose the Due on day of next month option, enter the day of the month. Discount in ... Days/Discount on ... next month: If you chose the Due in number of days option, enter the number of days past the invoice date beyond which you will not be allowed a discount by the vendor. If you chose the Due on day of next month option, enter the day of the month. Discount %: If payment is made within the Discount Days range, enter the percent of the total invoice amount that you will be allowed as a discount. Enter fractions as decimals; for example, two-and-one-half percent should be entered as 2.5. Credit Limit: Enter the total amount of credit you are allowed by the vendor. G/L Link Accounts The defaults are used to link purchase and discount G/L accounts to most of your vendors. You can change individual vendor setup, if necessary. G/L Purchase Account: Enter the ID of the inventory or expense account you usually use for purchases. You can 60
    • change the account entered at the vendor level (Maintain Vendors) or when entering purchases (Purchases/Receive Inventory or Purchase Orders). Discount G/L Account: Enter the ID of the account you want to use for early-payment discounts you can take. 2. Account Aging (Vendor Defaults) To set up how purchase invoices are aged and what aging brackets will be used for accounts payable, select the Account Aging tab in the Vendor Defaults window. Age Invoices By Choose either Invoice Date or Due Date. If you age by invoice date, the aging report shows how old each invoice and each vendor balance is. If you age by Due Date, the aging report shows how overdue each invoice and each vendor is. 61
    • Many people choose to age vendors by Due Date and customers by Invoice Date. Aging Categories Use this to set the ranges of days and the column headings for the Aged Payables report and the Payment Manager. The columns print from left to right starting with the 1st column. The # of Days field can be either the number of days beyond the invoice date or beyond the due date, depending on what you enter in the Age Invoices By field. For example, entering 30 for the 1st column would display all current invoices 30 days late. Entering 60 for the 2nd column would display all invoices that are between 31 and 60 days overdue. Entering 90 in the 3rd column displays all invoices that are more than between 61 and 90 days overdue. The fourth column will show all invoices that are more than 91 days overdue. 3. Custom Fields (Vendor Defaults) 62
    • To set up custom field names for your vendor records, select the Custom Fields tab in the Vendor Defaults window. Custom fields offer you a way to keep track of specific information about the people who supply you with goods and services. Each business is unique. While we already provide fields to record the most common business data, you probably require other information from time to time. Custom fields let you set up and store that data. You use the custom fields to set up fields that aren't available on the Maintain Vendors window. For example, you can label vendors by location (in-state, out-of-state, international). You would enter the label as Location. When you are entering a vendor, you would enter the vendor's location under the Custom Fields tab. Select the Enabled check box to enter or change the field label. If you decide not to use a field, simply clear the Enabled check box. The data will remain, but it will be inaccessible. If you decide you want to use the field label again, select the Enabled check box, and the program will make the data available. There are three steps to setting up and recording custom fields: 63
    • 1. Set up and enable custom field names in Vendor Defaults. 2. Enter custom field data for each vendor record in Maintain Vendors. 3. View and print the data in Accounts Payable reports. Examples Custom fields let you use your imagination. What do I really need to know about my vendors? Below are examples of vendor custom fields you could set up. Field Name Data Entered Office Manager or enter additional contacts you Account Rep have with the vendor Preferred (Y/N) indicate whether this is one of your primary vendors or a secondary vendor Expiration Date if you have credit card companies set up as vendors Contributor? indicate whether this vendor contributes door prizes for your company holiday party 4. 1099 Settings (Vendor Defaults) 64
    • This tab lets you establish how 1099 calculations will be made for each of the general ledger accounts in your chart of accounts. You can choose whether 1099 payments made out of a given account will be calculated for miscellaneous income-type contractors or for interest income-type contractors. You can also choose to have no 1099 calculations made for the given G/L account. To set up 1099 calculations, select the 1099 Settings tab in the Vendor Defaults window. G/L Account ID and G/L Account Description The first column lists by ID number all the general ledger accounts in your chart; the second column lists the descriptions you have chosen for each of these accounts in the Maintain Chart of Accounts window. 65
    • 1099 Settings The third column lets you choose among possible 1099 settings. In the box opposite the G/L Account ID and Description (for example, 10000, Petty Cash), use the drop-down list to select the appropriate 1099 setting: Box 1 or Box 7: This is the default setting for all general ledger accounts. It allows the calculation of contractor payments to be based on the 1099 type you have set up for each contractor in Maintain Vendors (either Independent Contractor or Interest). 1099-MISC, Box 7 Only: Select this option to report miscellaneous income for each contractor you pay more than $600 annually. Peachtree will then make miscellaneous income calculations for all contractor payments credited to the chosen general ledger account. 1099-INT, Box 1 Only: Select this option to report interest income for each contractor you have paid at least $10 in interest as a loan. Peachtree will then make interest income calculations for all contractor payments credited to the chosen general ledger account. None: Select this option if you don't want either miscellaneous income or interest income calculations to be made for the chosen general ledger account. Reset Default If you have changed a number of settings and now want to return the accounts to their default settings (Box 1 or Box 7), just select the Reset Default button. 66
    • Set Up a Vendor Use the Maintain Vendors window to enter, change, and store information about the companies and people from whom you purchase goods and services. You can use this window to add a vendor, change existing vendor information, or delete a vendor if no transactions have been entered for the vendor. First, you should set up your default or common information in Maintain Vendor Defaults. This automates part of the process of setting up individual vendors. Then, you can set up individual vendors, including beginning balances. Use this procedure to set up a new vendor record. 1. Do one of the following: o From the Maintain menu, select Vendors. o Click the Vendors icon on the Navigation Aid and select New Vender Purchases 67
    • o Type + or double-click inside the Vendor ID field of any task (transaction) window. Peachtree displays the Maintain Vendors window. Vendor Header Fields Vendor header fields are located above the folder tabs of the Maintain Vendors window. This is where you enter lookup information about the vendor such as the vendor ID, name, and status. Vendor ID: Use this field to create a unique internal ID for this vendor. If you leave the ID field blank, Peachtree will create an ID based on the Name you enter (provided this option is selected in Global Options.) When entering transactions, you can use this field 68
    • to call up information for the vendor. Or, you can use it to sort and filter reports. Name:Enter the name of the new vendor (up to 39 alphanumeric characters) here. This name prints on checks and reports. This can be a company name or an individual's name. Use Bill Pay (Peachtree Complete Accounting and higher only):If, by default, you want this vendor to be paid electronically rather than by paper check, select this check box. Also, in Peachtree Bill Pay setup, you can set up a vendor to be paid electronically by default. For any vendors you have set up this way, the Use Bill Pay box will be checked. If you do not want a vendor to be paid electronically by default, deselect the check box. Inactive: Once a vendor record is inactive, Peachtree displays a warning when you try to make a purchase or payment to the vendor. However, you can update the vendor record with address and telephone information. Important: If you plan to purge this vendor when you close the fiscal year, select this check box. When you choose to purge after closing the fiscal year, all vendors that have no outstanding transactions and are tagged as inactive will be purged. General Tab To enter basic information about the vendor such as contact information, address, phone and fax numbers, and beginning balances, select the General tab in the Maintain Vendors window. Vendor Addresses Tab 69
    • On this tab, you can enter address information for an unlimited number of Remit To addresses for this vendor. Simply enter the information in the grid in the appropriate row, or copy the Mailing Address to one of the Remit To Address rows by selecting that Remit To Address in the Copy Mailing Address to field and clicking Copy. The Mailing Address is displayed at the top of the tab. When you click the Copy to Remit To Address 1 button on the General tab, the address information will be added on this tab in the Ship column under 1. You can also select a default address for Payments, Purchase Orders, and Shipments in the Address Defaults box on the right. This will save you data entry time when you perform one of these tasks. History Tab To display the selected vendor's current history, select the History tab in the Maintain Vendors window. When entering a new vendor, you can enter information on this tab; once you save the vendor record, this tab is for display purposes only. Vendor Since: Enter the date you first had a transaction with the vendor. Last Invoice Date: Enter the date of the last invoice you received from the vendor. Last Invoice Amt.: Enter the amount of the last invoice. Last Payment Date: Enter the last date you paid the vendor. 70
    • Last Payment Amt.: Enter the last amount you paid the vendor. You can also enter your vendors' beginning balances here. After clicking on Beginning Balance button you will find the following window Enter the invoice number, invoice date, purchase order number (if applicable), amount, and the appropriate A/P account (if necessary) for each unpaid invoice for this vendor that needs to be recorded when starting Peachtree. If you are using accrual-based accounting, you must select an A/P account. If you are set up as cash basis, the A/P Account field will be disabled. These transactions can be adjusted at any time unless a payment has been applied to the invoice. If a payment has been made, the invoice will have a gray background. To edit it, you must delete the payment first. 71
    • If you need to enter more than one line on this tab, press ENTER and continue adding invoices. To enter beginning balances for additional vendors, select the Vendor Balances tab. Double-click the vendor name or highlight the name and select the Purchases from tab. Note: When you are setting up your company, it is important to remember that the total of the beginning balances entered here needs to equal the total amount you entered in your G/L beginning balances for all accounts payable account types. Select the Save button to return to the Maintain Vendors window. Purchase Info Tab To set up unique purchase transaction defaults for each vendor record, select the Purchase Info tab in the Maintain Vendors window. You can change this information at the transaction level, if necessary. 72
    • Purchase Rep:You can enter or select an employee to act as the purchase rep for this vendor. Tax ID Number: Enter the vendor's tax ID number. This is only necessary if you send this vendor a 1099 form. Ship Via: Select the primary shipping carrier that this vendor uses for items. The shipping carriers are set up in Inventory Item Defaults. Form Options: This group box includes options that determine how purchase order forms are delivered to your vendors, either from the Select a Report or Form window or using the E-mail button on the Purchase Orders window. Batch Delivery method: Choose either paper forms or e-mail. Whenever you print a form in bulk from the Select a Report or Form window, your choice will determine whether the form is printed for mailing OR automatically sent as an e-mail attachment to this specific vendor. E-mail purchase rep when using batch processing to send forms: Select this to automatically send an e-mail copy of the form to the default purchase rep (whose ID appears in the Purchase Rep field) whenever you send a form to the vendor. Replace Item ID with: You can select UPC/SKU or Part Number to display as your item identification on forms. Note: In order to e-mail forms to your vendors, you must have a default MAPI-compliant e-mail application installed on your computer. Terms and Credit: You can choose to use default vendor payment terms set up in Vendor Defaults or set up a unique set of terms for this vendor. Select Customize terms for this vendor from the drop- 73
    • down list to create unique terms for this vendor. When you do so, Peachtree will display a list of options to customize the terms. Select for Purchases Order From the Task menu select, Select for Purchase Order Following window will appear. 74
    • This window lets you choose a number of criteria that will determine which inventory items appear on the purchase orders you want to create. These criteriasuch as item ID, item type, and preferred vendor IDare all taken from the item records entered in Maintain Inventory Items. The Select for Purchase Orders--Filter Selection window is set up to give you a wide variety of choices to make the process of reordering items as flexible as possible. The first groupSelect Item with box lets you limit the items that will be listed for reorder based on item ID, item type, and/or item class. Item ID: If you don't want to limit the items that appear according to ID, click All. If you want to limit the items that appear, click Select and the Lookup button. You can select a single ID or a group of IDs (by holding down the Ctrl key and clicking items with your mouse). Item Type: If you don't want to limit the items that appear according to item type, click All. If you want to limit the items that appear to a range of types, use the From and To text boxes to enter the first and last item types in the range you want to include. Item Class: Use the check boxes to choose which item class or classes you want to use to limit the items that are listed for reorder. Note:Stock is the default class. If you clear all check boxes, Peachtree will automatically select Stock as the item class. And items withbox lets you further limit the items that will be listed for reorder based on preferred vendor and buyer. Vendor ID: If you don't want to limit the items that appear according to a specific vendor ID, click All. If you want to limit the items that appear, click Select and the Lookup button. You 75
    • can select a single ID or a group of IDs (by holding down the Ctrl key and clicking items with your mouse). For more about selecting a group of records in a lookup list, click . Buyer ID: If you don't want to limit the items that appear according to a specific buyer ID, click All. If you want to limit the items that appear, click Select and the Lookup button. You can select a single ID or a group of IDs (by holding down the Ctrl key and clicking items with your mouse). For more about selecting a group of records in a lookup list, click . The last group box Display a list of items has additional options for fine-tuning the list of items for reorder that will appear. Based on Quantity Available: Select this if you want the inventory items listed to be based on the quantity of items available. Based on Quantity on Hand: Select this if you want the inventory items listed to be based on the quantity of items on hand. As of: Use the calendar button to select the date as of which the Quantity Available or Quantity On Hand will be calculated. Stock status - Out of stock: Select this if you want the inventory items listed to be only those that are currently out of stock. Stock status - Below minimum stock: Select this if you want the inventory items listed to be only those that are currently below minimum stock levels. Stock status - At or above minimum stock: Select this if you want the inventory items listed to be only those that are at or above minimum stock levels. 76
    • Set order quantity to - Greater of reorder quantity and quantity needed to bring to minimum: Select this if you want the quantity of an item reordered to be whichever is greater: the default reorder quantity or the amount needed to bring the item to minimum stock quantity. Set order quantity to - Bring quantity up to minimum stock: Select this if you want the quantity of an item reordered to be that needed to bring it to minimum stock quantity. Set order quantity to - Reorder quantity: Select this if you want the quantity of an item reordered to be that needed to bring it to the default reorder amount. Set order quantity to - Quantity needed to fill SOs and accepted Proposals only: Select this if you want the quantity of an item reordered to be that needed only to fill all outstanding sales orders and/or proposals. Proposals, a feature of Peachtree Premium Accounting, must be accepted (by marking the Accept Proposal checkbox on the Proposals window) before they will be considered during the Select for Purchase Order routine. After you have select the criteria and click Ok button following window will appear. Here you have fill in the other desired fields. For example if in Select for Purchase Order-Filter selection you have filter it via Select item with, then you have to fill in the Vendor ID and vice versa. 77
    • Purchase Order From the Tasks menu, select Purchase Orders. Peachtree displays the Purchase Orders window. 78
    • Alternatively click on Purchase Order icon on Vendor and Purchases Navigation Centerand select New Purchase Order Following window will appear. 1. Enter or select the vendor ID. 79
    • When the vendor is selected, Peachtree supplies the vendor default information, including name, remit address, shipping method, and payment terms. 2. If you will be printing the purchase order and want Peachtree to automatically assign this purchase order a number, leave the PO # field blank. Otherwise, enter the purchase order number in this field. 3. If the purchase order date is not today's date, enter the date in the Date field. 4. Enter the date this purchase order is good through in the Good thru field. Change the shipping address if necessary and the method of shipment. Click on the arrow button to display the ship-to information. To change the shipment method, select the method from the drop-down list. 5. Change the discount amount if necessary, as well as the displayed terms. The Displayed Terms field automatically fills in with the default terms. 6. If you are using special terms from this vendor and want to show them on the printed purchase order, enter the new term information here. 7. If yours is an accrual-based company, you can select the accounts payable G/L account for this purchase. On financial statements this will be your accounts payable liability account. If yours is a cash-basis company, this field will display <Cash Basis>. Note: If you have the Hide General Ledger Accounts global option activated, Peachtree will not display the A/P Account field in this window. To modify the A/P account used for this transaction, you must select the Journal button. 80
    • 8. Enter the information for each item on a separate line, including the item's quantity, item ID, description, unit price (the number of decimal places is selected in Maintain Global Options), and job information (if applicable). The default unit price is the last posted price for this item. If you are tracking job costs, you can assign a job for each non-stock line item. You cannot enter a purchase order for a stock or assembly item in your inventory and assign a job to it. You can apply stock or assembly items to a job at the time of the sale, but not the time of purchase. 9. The default G/L purchase account that appears for each line item is based on the vendor purchase account default or the item ID selected. To change the account ID, type ? in this field, or select the Lookup button. To add a new account, type + or double-click the field, which displays the Maintain Chart of Accounts window. Note: If you have the Hide General Ledger Accounts global option activated, Peachtree will not display G/L Account fields in this window. To modify G/L accounts used for this transaction, you must select the Journal button. 10. Continue entering line items until you have completed the purchase order. 11. Select the Print button if you want to print and save the order. Otherwise, click the Save button. Note: Purchase orders are not posted to general ledger. When you receive inventory and apply this purchase order to a customer invoice (after shipping the items ordered or performing services requested), the purchase order data is transferred to the vendor 81
    • invoice. Then, the purchase can be posted to the general ledger. Print a Purchase Order There are several ways to print a purchase order. To print a purchase order when you enter it When you have just entered the Purchase Order click on Print button on the header of Purchase Order window, to have a print out of Purchase order. To print a purchase order any other time 1. From the Tasks menu, select Purchase Orders. Peachtree displays the Purchase Orders window. 2. Select the List toolbar button. 3. Select from the displayed list the purchase order you want to print. 4. Select OK. Peachtree displays the purchase order. 5. Select the Print button, to print the Purchase order. 82
    • Purchase receive inventory Receive Inventory on a Purchase Order or Enter Purchase Invoice After you have entered a purchase order for your vendor, the next step is to receive the inventory for that purchase order as it arrives. Peachtree allows you to receive a different quantity for an item than you originally ordered. That is, you can receive less than or more than the originally ordered quantity. From the Tasks menu, select Purchases/Receive Inventory. Peachtree displays the Purchases/Receive Inventory window. Following window will appear. 83
    • 1. Enter or select the vendor ID. To display a list of existing vendors, type ? in this field, or select the Lookup button. If you have open purchase orders with this vendor, the Apply to Purchase Order # tab displays in front. 2. Enter the vendor's invoice number in the Invoice # field. This is a required field. If you have not yet received a vendor invoice (bill) for this shipment, select the Waiting on Bill from Vendor check box. Once your vendor sends you the bill, edit this invoice; clear the Waiting on Bill from Vendor check box; and enter the invoice number. Then, when you post the invoice with the invoice number, you will be able to select the invoice for payment. Note: If you have received inventory from a vendor by entering a purchase using the "Waiting on Bill" option, Peachtree will warn you when you select this vendor so you 84
    • don't enter the invoice for this vendor's order twice by mistake. 3. Enter the date of the transaction if it is different from the displayed date. 4. Change the shipping address if necessary and the method of shipment. Click the arrow button to display the box with ship-to information. To change the shipment method, select the method from the drop-down list. 5. Change the discount amount if necessary, as well as the displayed terms. The Displayed Terms field automatically fills in with the default terms. 6. If the vendor used special terms, enter the new term information here. 7. If yours is an accrual-based company, you can select the accounts payable G/L account for this purchase. On financial statements this will be your accounts payable liability account. If yours is a cash-basis company, this field will display <Cash Basis>. 8. From the drop-down list on the Apply to Purchase Order # tab, select the purchase order number that you want to receive inventory against. Peachtree displays the items on the order in the line-item list. 85
    • The first two columns on the line-item list (the Item ID column and the Remaining column) are gray, meaning you cannot edit them. To edit a purchase order, you must edit it in the Purchase Order task. The Remaining column shows the number of items left to be shipped to complete the purchase order. For example, if there were 20 units on a purchase order and you were shipped 15 of them, the Remaining column will show that 5 units still need to be shipped the next time you display the purchase invoice. 9. In the Received field, enter the quantity of an item received. 10. If you received all of the items, select Receive All from the Edit menu. Selecting Receive None removes all entries from the Received field. 11. If necessary, you can edit the information for each item included on the invoice, including the item's quantity, item ID, description, unit price (the number of decimal places is selected in Maintain Global Options), and job information 86
    • (if applicable). The default unit price is the last posted price for this item. 12. The default G/L purchase account that appears for each line item is based on the vendor purchase account default or the item ID selected. 13. Continue entering items until you have completed receiving the items in this shipment. If the vendor included additional purchase items on the invoice that were not included on your purchase order, select the Apply to Purchases tab. 14. If you have paid a partial or full payment at the same time you received this invoice, enter the amount in the Amount Paid at Purchase field. The Reference field and Cash Account field will appear allowing you to enter payment information. The Net Amount Due displays what you currently owe for the purchase. 15. When finished, select the Save button to record the purchase. 87
    • Entering and Paying Bills You may enter a bill and afterwards bays a bill by selecting the task menu and then clicking on Bills and then on sub menu selecting the Enter bill or Pay Bills. If you have select Enter Billfollowing window will appear. Here you will enter the bill after selecting the Vendor ID, date, Description, GL Account and amount. This may be the case to entering the utilities bills or Travelling or other expense bills. (This is the same window that appear after clicking on Purchase Receive Inventory from Task menu) 88
    • After you have entered the bill, you may pay the bill. To Pay the bills click on Task menu and select Bills and from the sub menu click on Pay Bills. Select the Vendor ID and Date. As you select the Vendor ID you find the amounts that are unpaid on the lower half of the window just click on pay box and then click on save to pay the amounts. 89
    • Select for Payments From the Taskmenu select, select for Payment and then sub menu click on Paper Checks. Following window will appear. 90
    • Select for Electronic Payment Filter Selection Check Date: Enter the date to print on check(s) to be created by this process. Invoices Due Before: Enter a date here to include only unpaid invoices due prior to the specified date. For example, enter 1/1/2003 to display all unpaid invoices due as of 12/31/2002. Or Discounts Lost By: Enter a date here to include only unpaid invoices that cease to qualify for a discount after the specified date. Include All Invoices: All invoices are included to be paid. Include Only Invoices... days past Due Date with balances over...: This can be used to pay your overdue invoices. For example, if you enter 30 days and $10, Peachtree will select to pay only those invoices that are 30 days overdue with a balance of more than $10. Include All Vendors: Selecting this will include all vendors with invoices that meet the date criteria. 91
    • Include Vendors From/To: You can use this to select a range of vendors, or just one, whose invoices you want to pay. Type Mask: You set up the type mask for your vendors in Maintain Vendors. When you enter the type mask, be sure to enter the mask as you typed it for your vendors. Peachtree is case sensitive; if you type NORTH as a type mask here, vendors with "North" or "north" type masks will not print. Always Take Discounts regardless of due date: If selected, discounts will be calculated for all the invoices selected even if the discount date has passed. When you select Ok Button after selecting the Selecting for PaymentFilter Criteria, following window will appear. Select for Electronic Payment This window lists all outstanding invoices, credit memos, and prepayments. By selecting check boxes in the Pay column to the 92
    • right of the window, you are telling Peachtree which invoices you want to pay. If you have multiple invoices from a single vendor, only one check will be created for the total of the invoices. Select the Detail button to display invoice information associated with the selected transaction. Select the Report button to print a "pre-check" register that lists all payments that you have currently selected in the window. In other words, this is a list of vendor payments that will be made (checks that will be printed) when you select the Print button. You can use this preview report to examine payment detail, approve selected vendor checks, and prepare the check order before the checks are actually printed and posted. 93
    • Payments There are two basic methods of paying vendors: Apply vendor invoices: pay previously entered invoices in the Purchases window. Apply to expenses (cash purchase): pay a vendor without using a vendor invoice. See Enter a Cash Purchase for further information. To apply a payment to vendor invoices 1. From the Tasks menu, select Payments. Following Window will appear 94
    • 2. Enter or select the vendor ID that you want to pay. If you there are unpaid invoices for this vendor, Peachtree lists them on the Apply to Invoices tab. If there are no unpaid invoices, Peachtree displays the Apply to Expenses tab. 3. Enter or select the cash account from which you will be writing the check. 4. On the Apply to Invoices tab, select the Pay check box next each the invoice that you want to pay. o If you want to pay an invoice in full, place the cursor in the Amount column for the invoice, and select the Pay check box. Peachtree will fill in the Amount Paid field. o If you want pay a partial amount on the invoice, enter that amount. Peachtree will automatically select the Pay check box. 95
    • Note: If you overpay the amount, a credit is made to the vendor's ledger; for underpayments, the payment amount is applied to the invoice balance. You will need a reference number in order to post or save the record. Write Checks The Write Checks window is a simplified version of the Payments window. Write Checks allows you to quickly enter check information without having to make individual line-item distributions. Note: All checks written in either the Payments or the Write Checks window are listed in the Cash Disbursements Journal. Writing expense checks Like the Payments window, Write Checks lets you write a check to a vendor. Unlike Payments, however, Write Checks doesn't let you pay vendor invoices or make prepayments. So Write Checks should be your choice whenever you want to make payments for transactions, such as expenses, that don't involve invoices or the need to track inventory. If you need to distribute a payment to multiple line items, select the Split button. The Split Transaction window appears; there, you can enter the appropriate line-item information. To access the feature click on Task menu and click on Write Checks 96
    • Following window will appear. 97
    • Vendor Credit Memos Use the Vendor Credit Memos window to enter credit memos for returns to and credits from a vendor; you can apply credit memos to any existing vendor invoices that have not been paid. All entries made on this window are posted to General Ledger, vendor records, and when applicable, inventory and job records. You have the choice of applying memos to jobs through the distribution list box. To access the features click on Task Menu and select on Vendor Credit Memo Following window will appear. When you enter an item ID, the quantity on hand is reduced by the quantity entered. Vendor Credit Memos allows you to enter as many as 500 return or credit line items per memo. 98
    • 99
    • Inventory Inventory and Services Navigation Window The Peachtree Inventory & Services Navigation Center displays information and access points related to your company's inventory items. It includes a summary of item information, access to recently used inventory reports, and a graphic analysis of how the cost of sales is trending. In addition, the Navigation Center shows the flow of inventory-related tasks and takes you where you need to go to perform those tasks. Some of the information that appears in the Inventory & Services Navigation Center can be drilled down on. 100
    • Maintain Inventory Item Peachtree tracks the inventory items you buy and sell and automatically updates the quantities after each posted transaction. It also allows you to store items you do not stock but that you enter on invoices. This makes entering invoices faster for you. Tracking inventory in Peachtree is basically a three-step process: Enter item information, including Sales account, Inventory account, and Cost of Sales account. Use item codes when entering purchases and sales. Peachtree computes and tracks costs and quantities on a daily basis, based on transaction date and item class. Enter adjustments, if necessary, through the Inventory Adjustments Task. Peachtree does the rest, adjusting inventory levels each time you post a purchase or sale of an inventory item. In addition, the program will track the cost of each item on a daily basis, based on the transaction date and item class. In addition to tracking costs and quantities, using inventory items makes entering transactions easier. Through Maintain Inventory Items, you set up the goods and/or services you sell or purchase. You can set a unit price and the account to be adjusted by the sale of this commodity (see Non-stock Items under Item Class). Then, when you enter the sale, you need only select an inventory item and enter a quantity ordered; Peachtree computes the total. Both the item description and detailed description print on the invoice. 101
    • 102
    • 103