Set up for a new company in Peachtree

MUHAMMAD AHMED SHAHID
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Table of Contents
SET UP FOR A NEW COMPANY.................................................................................................................. 3
HOW TO OPEN AN EXISTING COMPANY................................................................................................. 17
ENTERING CHART OF ACCOUNTS IN THE SOFTWARE............................................................................. 23
ENTERING THE BEGINNING BALANCES OF THE ACCOUNTS IN CHART OF ACCOUNTS .......................... 27
HOW TO CREATE CUSTOMER RECORDS IN PEACHTREE ACCOUNTING SOFTWARE............................... 29
HOW TO CREATE VENDOR RECORDS IN PEACHTREE ACCOUNTING SOFTWARE ................................... 32
ENTERING BEGINNING BALANCES OF THE CUSTOMERS (IF ANY) .......................................................... 35
ENTERING BEGINNING BALANCES OF THE VENDORS (IF ANY) ............................................................... 36
HOW TO EDIT CUSTOMER WINDOW ITEMS ........................................................................................... 37
PAYMENT TERMS: ............................................................................................................................... 38
ACCOUNT AGING: ............................................................................................................................... 41
CUSTOM FIELDS: ................................................................................................................................. 42
FINANCE CHARGES: ............................................................................................................................. 42
PAY METHODS:.................................................................................................................................... 43
MAINTAINING INVENTORY ACCOUNT IN THE SOFTWARE ..................................................................... 43
AN ILLUSTRATION OF MAINTAING INVENTORY ACCOUNT IN THE SOFTWARE: ................................ 46
ENTERING BEGINNING BALANCES OF INVENTORY ................................................................................. 49
HOW TO MAKE A PURCHASE ORDER ...................................................................................................... 52
HOW TO RECORD RECEIVING OF INVENTORY ........................................................................................ 55
RECEIVING INVENTORY WITHOUT ISSUING PURCHASE ORDER: ........................................................ 58
RECEIVING SOME INVENTORY AFTER ISSUING & WITHOUT ISSUING PURCHASE ORDER: ................ 60
HOW TO MAKE A QUOTATION IN PEACHTREE ACCOUNTING SOFTWARE............................................. 63
HOW TO MAKE A SALE ORER IN PEACHTREE ACCOUNTING SOFTWARE ............................................... 65
HOW TO MAKE A SALE INVOICE IN PEACHTREE ACCOUNTING SOFTWARE ........................................... 70
HOW TO RECEIVE THE CASH IN THE SOFTWARE .................................................................................... 70
HOW TO RECORD SALES RETURN IN THE SOFTWARE ............................................................................ 72
HOW TO RECORD SALES RETURN IN THE SOFTWARE ............................................................................ 76
HOW TO RECORD A JOURNAL ENTRY IN PEACHTREE SOFTWARE .......................................................... 80
HOW TO USE GLOBAL OPTION IN PEACHTREE SOFTWARE .................................................................... 81

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HOW TO SET SECURITY CODE FOR PEACHTREE USERS........................................................................... 84

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SET UP FOR A NEW COMPANY

Following are the steps involved in order to create a new company using Peachtree accounting
software 2004:

From this screen click on “Set up a new company”. Following is a wizard screen which will be
appeared on the screen by clicking on “Set up a new company”.

This wizard scheme will provide us with five options which are required to be entered in the
software in order to complete our steps involved in the creation of the company. First we press the
“Next” button and the following “company information” wizard scheme appears on the screen.

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After filling the above shown wizard, we click the “Next” button in order to continue our steps
towards the creation of our company in Peachtree accounting software 2004.

Then this wizard scheme of “Chart of Accounts” will be appeared after filling all the required
information in “Company information” wizard Scheme. From this wizard of “Chart of Accounts”, we will
click on “Build your own company”. Following wizard scheme of “Accounting Method” will be appeared
on the screen.

From this wizard scheme of “Accounting Method”, we select “Accrual” and then click on “Next”
button to continue our steps toward creation of a new company in Peachtree accounting software 2004.
After following this step, we get the following wizard screen of “Posting Method” on our desktop screen.

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From this wizard scheme of “Posting Method”, we select “Real Time” option and click on “Next”
button to proceed towards the creation of a new company on Peachtree Accounting Software 2004. We
get the Following Screen of “Accounting Periods” on implementing this procedure.

From this wizard scheme of “Accounting Periods”, we select the option of “12 monthly
accounting periods” option as per our requirement and then click on “Next” Button to proceed. After
following this procedure, we reach to the following “Monthly Accounting Periods” Wizard scheme.

From this Wizard scheme of “Monthly Accounting Periods”, we select “January” as Month and
“2012” as year for our requirement, “When do you want your fiscal year to start?”. Then we select
“February” as month and “2012” as year for our requirement of “What is the first month you will be
entering your data?”. After this we select “2012” in our requirement of “What is the first year you will
be entering payroll?”. After filling this we click the “Next” button and get the following screen on our
desktop screen.

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This is the last wizard scheme involved in the creation of our new company in Peachtree
accounting software 2004. In this wizard, we press the “Finish “button after which a new company starts
its creation and with in 10 seconds the Peachtree software creates a new company for us.

We have five different options available in wizard scheme “Chart of accounts”. If we want to
convert a company data from another software into Peachtree software then we select the second last
option which is “Convert a company from another accounting program”, the following wizard scheme of
“Accounting Method” appears on the screen. The remaining steps for the conversion of a company from
another software will be implemented in the same manner as implemented for “Build your own
company”.


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As we have five different options available in wizard scheme “Chart of accounts”. If we want to
copy settings of an already existed company in Peachtree software then we select the third last option
which is “Copy settings from an existing Peachtree Accounting company”, the following wizard scheme
of “Accounting Method” appears on the screen. The remaining steps for Copy settings from an existing
Peachtree Accounting company will be implemented in the same manner as implemented for “Build
your own company”.

From this wizard of “chart of accounts” we first select the available company in “Available
Peachtree companies” window and after this we press “View chart of accounts” and get the list of
accounts for that company in the window above “View chart of accounts”. From here we select the

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accounts which we want to add in our new company and press the “Next” Button. After this the rest of
the procedure remains the same for creation of our company.

From this new wizard scheme of “Copy Company information”, we can select different options
which we require to be copied from the existing available companies in the Peachtree software. We
select the options required to be copied and then press the “Next” Button in order to continue the
formation of a new company. On pressing “Next” we arrive on to the following wizard scheme.


get the Following Screen of “Congratulations” on implementing this procedure.

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its creation and within 10 seconds the Peachtree software creates a new company for us.

As we have five different options available in wizard scheme “Chart of accounts”. If we want to
set up a new company using an extensive chart of accounts from one of many sample companies in
Peachtree software then we select the second option from the beginning which is “Set up a new
company using an extensive chart of accounts from one of many sample companies”, and click on the
“Next” button and the following wizard scheme of “Chart of Accounts” appears on the screen. The
remaining steps for settings up a new company using an extensive chart of accounts from one of many
sample companies from an existing Peachtree Accounting company will be implemented in the same
manner as implemented for “Build your own company”.

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From this wizard scheme of “Chart of accounts “we can select the industry or the company
related to our company. If we want to form a new store then we will be selecting “Retail Company” from
the “Available chart of accounts” option. If we wish to see the list of accounts available in the retail
company chart of accounts then we can do this simply by clicking on “retail company” option and then
clicking on “View chart of Accounts” option. By doing this the following screen of the list of chart of
accounts for a retail company will be displayed on our screen.

From this window we can scroll down and have a look on the accounts listed in the chart of
accounts of the retail company. From these accounts we can add the accounts in our new company.
Now we will close this window and press the “Next” button in order to get to the next wizard scheme
“Accounting Method”.


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This “Defaults “wizard scheme displays the default settings made by the Peachtree accounting
software for our new company which we can change after creation of the company. From this we press
the “Next” button and get to the following screen of “Congratulation”.

its creation and within 10 seconds the Peachtree software creates a new company for us.

As we have left only with the procedure of creating a company from the first option so we are
going to create a new company in Peachtree accounting software 2004 using this first option of “Set up
a new Retail, Service, Construction, Manufacturing, or Distribution company, using a specified chart of
accounts”. From this wizard scheme of “chart of accounts”, now we select the first option which is “Set

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up a new Retail, service, Construction, Manufacturing or Distribution company using a simplified chart of
accounts”. By using this option we will be able to get the simplified sample chart of accounts already
prepared in the Peachtree software for different companies. Press the “Next” button and arrive to the
following wizard scheme on the desktop screen.

In this new wizard we have the “Available Chart of accounts” for a Retail company, Service
Company, Construction Company, Manufacturing Company and Distribution Company. We can select
any company as per our requirements and can click on “Next” button to complete our process of
creation of a company. We can also view the chart of accounts of a specific available company by
clicking on that required company and then clicking on “View chart of accounts” option. By doing this we
will be arriving on the following wizard scheme.

From this list of chart of accounts we can scroll down and have a look on the available accounts
in that list. Now we close this list and press the “next” button after selecting our required company. We
get the following screen after following this procedure.

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get the Following Screen of “Accounting Periods” on implementing this procedure.

From this wizard scheme of “Accounting Periods”, we select the option of “12 monthly
accounting periods” option as per our requirement and then click on “Next” Button to proceed. After
following this procedure, we reach to the following “Monthly Accounting Periods” Wizard scheme.

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From this Wizard scheme of “Monthly Accounting Periods”, we select “January” as Month and
“2012” as year for our requirement, “When do you want your fiscal year to start?”. Then we select
“February” as month and “2012” as year for our requirement of “What is the first month you will be
entering your data?”. After this we select “2012” in our requirement of “What is the first year you will
be entering payroll?”. After filling this we click the “Next” button and get the following screen on our
desktop screen.

This “Defaults “wizard scheme displays the default settings made by the Peachtree accounting
software for our new company which we can change after creation of the company. From this we press
the “Next” button and get to the following screen of “Congratulation”.


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HOW TO OPEN AN EXISTING COMPANY
We can open an existing company using our Peachtree software which we had already created
in the past or had been created by someone else in the past. For this the existing company must be
saved in the hard drive of the computer on which the Peachtree software is installed. For this first we
open the Peachtree software and arrive on the following wizard scheme on our desktop.

From this wizard scheme we select the first option “Open an existing company”. On clicking
“Open an existing company”, following wizard is shown on our desktop screen.

From this wizard scheme we Press the “Browse” button on the left side of the wizard and locate
our existing company folder in the hard drive. On clicking “Browse” button we arrive on the following
screen.

From here we select our drive in which we have saved the files of the existing company. After
selecting that drive we further locate the folder in which we have saved our files of existing company
from the “Directories” portion. Drive can be selected by the following method.

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After selecting the drive in which we have saved the data folder of our already existed company
we finally locate the company folder and select that folder from the screen as follows and click the “Ok”
button.

One thing should be kept in mind that on selecting the Company the folder sign with that
company should be of closed folder rather than opened folder. The difference between both the folders
has been illustrated in the following diagram.

After clicking the “Ok” button the existing company data will be restored in the software and a
new screen will be opened on the desktop screen as follows.

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This window is the main screen for our company which we were willing to open. At the top of
the Peachtree software we will find the name of the company with which we had already created it in
the past.

OR

There is another method of opening an existing company using Peachtree software. In this
method we directly copy the files of the existing company which was created in the past and paste them
in the companies’ directory of Peachtree Accounting Software. For this first of all we select the data
folder of the already existed company which we are willing to open using Peachtree. After selecting it
we Right click on it and Click on “Copy” as shown in the following screen.

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After clicking on “Copy” we open the drive in which the Peachtree software is installed. Mostly
this is the Drive “C” where we save our software as well as windows but it may vary Pc to Pc. On opening
the Drive “C” we see the following screen on our desktop.

From this window we double click on the folder “Program Files” and get to the following screen.

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From this window we open the “Peachtree” folder by double clicking on it. By doing this we
arrive on the following screen on our desktop.

From this window we open the “Company” folder by double clicking on it and arrive on the
following screen on our desktop.

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Here we paste the folder of the existing company which we already copied in the start of the
process by using a shortcut key CTRL + V or we can Right click within the window and click on Paste if we
have already copied it from the original directory as we did in the start.

After pasting it in this folder we again go back to the Peachtree Software or open it again. After
opening it we get the following screen on our desktop.

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From this wizard scheme we select the first option “Open an existing company”. On clicking
“Open an existing company”, following wizard is shown on our desktop screen.

From this we select our company which we have copied in the company folder and click the
“Ok” button. On clicking “Ok” the main screen for our company which we were willing to open appears
on the desktop screen. At the top of the Peachtree software we will find the name of the company with
which we had already created it in the past.

ENTERING CHART OF ACCOUNTS IN THE SOFTWARE
If we have chosen the “Build your own company” in the beginning from the “Chart of accounts”
wizard scheme then we will have to make our own chart of accounts after the formation of the company
is completed. For this first we open the company in which we want to enter the chart of the accounts.
The first page of the company will be opened in the same manner as described above. Following front
page of the company appears on the desktop screen on opening the window.

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From this screen we first select the “Maintain” option from the above taskbar and by clicking on
the “Maintain” option, following options further appears on the screen.

From these options we select the “Chart of accounts” option in order to enter the chart of
accounts in the software. On clicking on “Chart of accounts”, following screen appears on the desktop
screen.

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This is the window where we enter the accounts related to our company or store whatever is
our concern. It contains “Account ID” option in which we enter the Code of the account or the ID of the
account. Another option is “Description” in which we add the name of the account. Like Petty cash, cash
in hand, cash at bank, account receivable, account payable and so on. The third option is “Account
type”. From this option we can select the type or the nature of the account which we are adding in the
list of chart of accounts. For instance the type of account for petty cash and cash at bank will be “Cash”,
the type of account for account receivable will be “Account receivable” and so on. There is another
option of “Inactive”. By selecting this option our account will be inactivated and we will not be able to
record any financial entry regarding that account. That account will be closed for recording the
transactions and marinating the records. The next option is “Change ID”, from where we can change the
ID of the account if we have entered it incorrectly. We can even delete the account using this window.
All these are explained in the further pages. We enter the Code of the account in the “Account ID” as
follows.

Below this “Account ID” option there is another option “Description”. We enter the name of the
account in this portion as illustrated follows.

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After this we select the “Account type” by clicking on it. On clicking it, different options for the
account type appears on the desktop screen from which we select the appropriate account type for our
account. Following options appear on the screen on clicking “Account type”.

If we have made any mistake in our chart of accounts with any of our account then we can also
rectify our mistake. If we had written wrong description or ID for the account or selected the wrong
account type for the account then these mistakes can be rectified by using the following procedure.

If we want to change the ID of our account then we need to first select that account from the list
and after selecting it we press the button of “Change ID” in the top of the “Maintain chart of accounts”
wizard scheme. On doing this, following screen appears on the desktop screen.

Here we enter our new correct ID for the account in “Enter New Account ID” and click on “ok”.
After this the ID of the account will be changed to our new entered ID. If we want to change the
description or the account type of any account then we can also do it. First we will have to select that
particular account which requires to be amended and the click on description and change the
description or account type click on account type and change the account type to our required account
type. After changing the description or account type press the save button which have been shown
below.

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We can also inactive any account. On inactivating the account that account will be inactivated
and we will be not is allowed to use that account later in the future transactions. To inactivate any
account we must select that account from the list and then click on the inactive box as shown below.

ENTERING THE BEGINNING BALANCES OF THE ACCOUNTS IN CHART OF
ACCOUNTS

Now we have to enter the opening balances in the accounts. We click on “Beginning Balances”
button in order to enter our beginning balances. The button of “Beginning balances” has been shown
below in the wizard scheme.

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From this we press the “Beginning balances” button and on clicking it, following window
appears on the desktop screen.

If we have to enter the balance for the month of February then we will have to enter the data in
January month. Same if the balance of March is required to be entered as beginning balance then we
will enter the beginning balance in the month of February. The amounts or balance entered will be the
closing balance of February which will become the opening balance of March. One more thing which is
very important is that the first digit in the date is of MONTH not DAY as it’s American software where
MONTH is written before DAY in date.

On selecting the period we click on the “Ok” button and the following screen appears on the
desktop screen.

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Here we enter the balances in the account. The left side is for the Assets and Expenses while the
right side is for Liabilities, equity and Income. We enter the opening balances of our respective accounts.
The amounts or the balances will only be entered in the white portion which is for the NORMAL
BALANCE for that respective account. It means if we have selected Assets as the type of account for
Cash the Assets portion which is the left side will become white and eligible for balance entry. We must
enter the data in such a manner that the left side and right side of the trial balance is equal to each
other because e the arithmetical accuracy of the data is proved by the equal balance of trial balance.

HOW TO CREATE CUSTOMER RECORDS IN PEACHTREE ACCOUNTING
SOFTWARE
After opening the company in our Peachtree accounting software, the first thing we do in order
to create the customer record is that we Click on “maintain” option at the top of the software’s toolbar
and on clicking it, following window appears on our desktop screen.

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From this window we select the first option which is “Customers/Prospectus….” In order to
create our customer records. On clicking it following window scheme appears on the screen.

We fill this window for each of our client or customer. Every customer will be allocated with a
separate and unique ID which will be written in “Customer ID” portion. This ID cannot be repeated for
any other customer. Every customer will have a unique and different ID as we allocated different ID for
different accounts while preparing chart of Accounts in the beginning. After this we write the name of
the organization with which we are dealing in the “Name” portion in this window. After writing the
name of the organization we first fill the “General” part of the requirements. We enter the name of that
person or the post of that person as per the conditions with whom we are going to engage in. This can
be sales representative, salesman, Sales manager or any other person as per the requirements. After
this we enter the address of that customer in the “Address” portion. Only 30 alphabets or numbers can
be written in a single line in “Address” option. If the address is longer than 30 alphabets then we can
write the remaining address in the 2nd line for address. Then we write the city and so on. In “Customer
Type” we mention which type of customer is he/she is according to our categorizations. This Customer
account is a subsidiary ledger account which will be entered in sales revenue account. After filling the
other required information in “General’ we move onwards on to Sales Defaults by clicking on it.
Customer ID, Name and GL Sales acct must be entered in order to create the record for any customer.

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Here we enter all the required information. In the “GL Sales Acct” portion we write the ID of our
sales revenue account. If we do write any ID which doesn’t exist in the chat of accounts then the blank
area in “GL Sales Acct” start blinking. After filling this information we move on to the “Payment
Defaults” by clicking on it.

Here we enter all the required information regarding the payment to the client. After filling this
portion we move forward to Custom Fields by clicking on it.

Here we enter the Second contact if required, Reference if required and so. These Field labels
can be changed easily on the customer default window. After completing this “Custom Fields” we move
forward to “History” by clicking on it.

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This is the last window before completion of a single customer record. After filling these all
required information, we click on “Save” button in order to save the record which we have entered in
the software for that specific customer. After this we can again repeat our whole process in order to
create more records for different customers. Following is the Save Button.

HOW TO CREATE VENDOR RECORDS IN PEACHTREE ACCOUNTING SOFTWARE
After opening the company in our Peachtree accounting software, the first thing we do in order
to create the vendor record is that we Click on “maintain” option at the top of the software’s toolbar
and on clicking it, following window appears on our desktop screen.

From this window we select the first option which is “Vendors….” In order to create our vendor
records. On clicking it following window scheme appears on the screen.

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We fill this window for each of our vendor. Every vendor will be allocated with a separate and
unique ID which will be written in “Vendor ID” portion. This ID cannot be repeated for any other vendor.
Every vendor will have a unique and different ID as we allocated different ID for different accounts while
preparing chart of Accounts in the beginning. After this we write the name of the organization with
which we are dealing in the “Name” portion in this window. After writing the name of the organization
we first fill the “General” part of the requirements. We enter the name of that person or the post of that
person as per the conditions with whom we are going to engage in. This can be sales representative,
salesman, Sales manager or any other person as per the requirements. After this we enter the address
of that vendor in the “Address” portion. Only 30 alphabets or numbers can be written in a single line in
“Address” option. If the address is longer than 30 alphabets then we can write the remaining address in
the 2nd line for address. Then we write the city and so on. In “Vendor Type” we mention which type of
vendor is he/she is according to our categorizations. This vendor account is a subsidiary ledger account
which will be entered in purchase account. After filling the other required information in “General’ we
move onwards on to Purchase Defaults by clicking on it. Vendor ID, Name and Purchase acct must be
entered in order to create the record for any vendor.

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Here we enter all the required information. In the “Purchase Acct” portion we write the ID of
our purchase account. If we do write any ID which doesn’t exist in the chat of accounts then the blank
area in “Purchase Acct” start blinking. After filling this information we move on to the “Custom Fields”
by clicking on it.

Here we enter the Second contact if required, Reference if required and so. These Field labels
can be changed easily on the vendor default window. After completing this “Custom Fields” we move
forward to “History” by clicking on it.

This is the last window before completion of a single vendor record. After filling these all
required information, we click on “Save” button in order to save the record which we have entered in
the software for that specific vendor. After this we can again repeat our whole process in order to create
more records for different vendors. Following is the Save Button.

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ENTERING BEGINNING BALANCES OF THE CUSTOMERS (IF ANY)
If there are the beginning balances of the customers for which we have created the record in
the software then we can also add this beginning balances in that customer’s account. For this first we
select the “Maintain” from the toolbar.

From this we select “Customers/Prospectus….” And following screen appears on the screen.

From here we select the option “Beginning Balances” and on selecting this option following
window appears on the desktop screen.

To enter the beginning balances of the customers we will have to select any customer whom
beginning balance is required to be entered in the software. We will Double click on that customer and
following window will appear on the desktop screen.

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Here we enter the invoice number in “Invoice Number”, Date of that invoice in “Date”,
“Purchase Order number” if any, “Amount” and finally ID of account receivable in “A/R Account” in the
window. After completing this we press on “Save” in order to save the beginning balances of the
customers. We will enter the beginning balances of the remaining customers in the same manner as we
entered for the first customer.

ENTERING BEGINNING BALANCES OF THE VENDORS (IF ANY)
If there are the beginning balances of the vendors for which we have created the record in the
software then we can also add this beginning balances in that vendor’s account. For this first we select
the “Maintain” from the toolbar.

From this we select “Vendors….” And following screen appears on the screen.

From here we select the option “Beginning Balances” and on selecting this option following

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To enter the beginning balances of the vendors we will have to select any vendor whom
beginning balance is required to be entered in the software. We will Double click on that vendor and
following window will appear on the desktop screen.

Here we enter the invoice number in “Invoice Number”, Date of that invoice in “Date”,
“Purchase Order number” if any, “Amount” and finally ID of account receivable in “A/P Account” in the
window. After completing this we press on “Save” in order to save the beginning balances of the
vendors. We will enter the beginning balances of the remaining vendors in the same manner as we
entered for the first vendor.

HOW TO EDIT CUSTOMER WINDOW ITEMS
We can edit the options available in the customer window in which we create new customer.
These customers are made from “Maintain Customers/Prospects” as described before. To edit the
options available in this “Maintain Customers/Prospects”, we first click on “Maintain” from the options
available on the top left side of our software’s toolbar. On clicking this option following window appears
on the screen.

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From this window we select the option “Default information” and get the following screen on
our desktop.

From this window we select the option “Customers…” and following screen appears on the
desktop screen.

This window has different options which we can use to set default the options. If we select any
option as default in this window then the related options in the customer accounts are also edited as
per accordance with the “Customer Defaults” window. This window has different options which have
been explained step by step in the following notes.

PAYMENT TERMS:
The first option in the Payment terms is “C.O.D.” under “Standard terms”. This C.O.D means
CASH ON DELIVERY which means that the cash is received at the time of sales of goods or delivery or
services rendered. If we select this option then the options like “Net due in”, “Discount in” and
“Discount %” are disabled and are not allowed to be edited. This has been shown in the following
window.

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The second option is “Prepaid” which means that the cash have been received in advance
before making the sales or delivering the goods or rendering the services. On selecting this option the
options like “Net due in”, “Discount in” and “Discount %” are disabled and are not allowed to be edited.
This has been shown in the following window.

The third option is “Due in number of days” which means that the due period will be decided for
the payment. If the sales have been made on 15th of March and we have given the customer a time
period till 28th of March for the payment of the goods then the due period would be 13 days. On
selecting this option the options like “Net due in”, “Discount in” and “Discount %” are enabled and are
allowed to be edit because we also can also dictate the discount terms if the customer pays the amount
within the due time period or prescribed by the creditor. In “Net due in” we write the time period or
days granted to the customer for the payment of the amount. In “Discount in” we write the days within
which the customer can avail the discount given by the seller. In “Discount %” we mention the
percentage of discount which we wish to offer to our customer for encouraging early payment which is
also known as motivational device. In “credit Limit” option we mention the amount till where we can
allot the credit top any customer. If the amount of credit exceeds beyond this prescribed limit then an
error will be displayed on the desktop screen while recording the invoice balance. This have been
displayed below.

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The fourth option is “Due on day of next month”. In this option we mention the date of
receiving the payment as in the next month of the sales or services. If the sales have been made on 15 th
of March and the amount is going to be received on 18th of April then we will use this option. On
selection the radio button for this option following screen appears on the desktop screen.

Here in the “Due on the __ next month” we mention the date in the next month when we will
be receiving our amount. In “Discount in” we write the days within which the customer can avail the
discount given by the seller. In “Discount %” we mention the percentage of discount which we wish to
offer to our customer for encouraging early payment which is also known as motivational device. In
“credit Limit” option we mention the amount till where we can allot the credit top any customer. If the
amount of credit exceeds beyond this prescribed limit then an error will be displayed on the desktop
screen while recording the invoice balance.

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This is the fifth and the last option under Standard terms “Due at the end of the month”. This
option is selected if the amount for the delivery is going to be received at the end of that month. Like if
the sales have been made on credit purposes on 22nd of February and the4 amount is going to be
received at the end of the month that is on 28th of February(If not a leap year) then we will select this
option of “Due at the end of the month”. On selecting this option, the option “Due on the __ next
month” is disabled and is not allowed to be edited. . In “Discount in” we write the days within which the
customer can avail the discount given by the seller. In “Discount %” we mention the percentage of
discount which we wish to offer to our customer for encouraging early payment which is also known as
motivational device. In “credit Limit” option we mention the amount till where we can allot the credit
top any customer. If the amount of credit exceeds beyond this prescribed limit then an error will be
displayed on the desktop screen while recording the invoice balance.

Here we can enter our sales account for the once to keep it as default for our “GL sales account”
while preparing the customer or prospects. The account ID selected here will be set as default account
for “GL sales account” in customer formation. Same is the case with “Discount GL Account” that here we
enter the ID of our Discount expense account which will be set as default in customer also.

ACCOUNT AGING:
Account aging means making different categories for the debtors. On basis of this the amount of
bad debt expense is calculated. On selecting “Account aging” following screen appears on the desktop
screen.

We can age our invoices by either “Invoice date” or “Due date” as per our requirements. If we
select the invoice option then it means that the debtor will be entering the calculation of aging of
debtors after the invoice date. If the customer have purchased the goods on 25th of March and have also
got the invoice by the shopkeeper dated 25tyh March then the aging of that customer will be started
from 25th of March while in contrary if we have selected “Due date” option and after selling the goods
on 25th of March we say allot a time period of 5 days for the payment of the amount then after these

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five days the aging of the customer will be started. Below are the aging categories which have 4 columns
and we can categorized our debtors in these columns. The number of days will be written in “# of days”
option and the “Column Heading” will be of the time period given to the creditor. After filling this we
move on to the next tab which is Custom Fields.

CUSTOM FIELDS:

From here we can edit the Field labels and make them Enabled by selecting the radio button
against it while to disable it we must deselect the radio button against that Field label. Then we can also
add further more field labels as per our requirements in the 5th option. These editing of the field labels
will also be edited in the “Custom fields” option in customer formation. If we enter the first field label as
“Toyota” and press “Ok” button and go back to the “Custom fields” option in the customer formation
then this first field label of “Toyota” will be appearing there on the 1st number.

FINANCE CHARGES:

This window deals with the finance charges. In “On invoices” we enter the number of invoices
on which we want to apply the finance charges. At the top we have box “Change finance charges”, if we
select this box then we will be able to apply finance charges on our invoices. After filling all the required
information in this window we enter the ID of the finance account in “Finance Charge GL Account”.
Without this our finance charges applied will not be recorded.

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PAY METHODS:

In this window of customer default, we select the method of payment. From these available
methods we select the most suitable method for our business.

MAINTAINING INVENTORY ACCOUNT IN THE SOFTWARE
Like account receivable has its subsidiary ledgers, inventory also has subsidiary ledgers. There
are different types of inventory items in an inventory account. For instance an inventory account may
consist of different inventories according to that business. We can record these inventory items in
Peachtree accounting software. First we will have to open the company where we want to add these
inventory items. After opening the software, we click on “Maintain” and will arise on the following
window.

From here we click on “Inventory items…” in order to enter our inventory items in the software.
On clicking “Inventory items…” following window appears on the desktop screen.

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This is the inventory item window where we will add the inventory items. In the “Item ID” we
will write the ID of the inventory item. Every inventory item must posses a unique and separate ID than
the other inventory item. Then in “Description” we write the general description of that inventory item.
It can be the title of that inventory or anything as per the situation. After this we associate the Sales
account with “GL Sales acct” by entering the ID of the sales account in this portion of “GL Sales acct”.
After this we associate the Inventory account with “GL Inventory Acct” by entering the ID of the
inventory account in this portion of “GL Inventory Acct”. After this we associate the Cost of sales
account with “GL Cost of Sales Acct” by entering the ID of the Cost of Sales account in this portion of “GL
Cost of Sales Acct”. These five basic things are important to create any inventory item and after this we
can save the item by clicking on saves. We also have many different options available in this window
other than these five important items. Lets discuss them now.

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

The option “Price Level 1:” is to adjust the price of the inventory item. Like as we have different
types of vendors and customers, we also have different types of tax so in “Item tax type” we mention
the type of the tax to be applied on that item. In “Last Unit Cost:” we enter the cost of the inventory and
late on Peachtree automatically sets the cost of the new inventory item based on the last unit cost. By
clicking on cost method we get different cost methods available in the software. From here we can
select the method as per our requirement.

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

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AN ILLUSTRATION OF MAINTAING INVENTORY ACCOUNT IN THE SOFTWARE:
ITEMS QTY/HOUR ITEM CLASS
MOTHER BOARD 1 Stock item
PROCESSOR 1 Stock item
CASING 1 Stock item
RAM 2 Stock item
DVD 1 Stock item
HARD DISK 2 Stock item
KEYBOARD 1 Stock item
MOUSE 1 Stock item
LCD 1 Stock item
LABOUR 1.5 Labor
COMPUTER DEPENDS Assembly

Now let us enter all these records in the software. These are the raw material required for
making a computer. Every raw material will be entered in the “Stock item” while the labor will be
entered in “Labor” and “Computer” will be entered in “Assembly”. To enter these items first of all we
will click on “Maintain” and following window will appear on the desktop screen.

From here we click on “Inventory items…” in order to enter our inventory items in the software.
On clicking “Inventory items…” following window appears on the desktop screen.

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Now to enter the records for raw material we will select “Stock item” from “Item class” and will
enter the record. Every stock item or raw material will be created by entering the ID, Description for that
account, GL sales Account, GL Inventory Account and GL Cost of sales account. After entering the ID and
description we will associate the GL sales Account, GL Inventory Account and GL Cost of sales account
with the accounts created in chart of accounts with its ID. These basic 5 items are mandatory for
creation of a stock item in the software. Here we will create the accounts for the following items as
these items are our raw material required to make a computer:

1. Mother Board.
2. Processor.
3. Casing.
4. RAM.
5. DVD.
6. Hard disk.
7. Keyboard.
8. Mouse.
9. LCD.

Now we will enter labor in the software. Labor will be entered in the labor item in item class.
We will click on item class and following window will appear on the screen.

From here we will select “Labor” and then we will enter the required mandatory information
which is ID, Description for that account, GL Salary/Wages Account, GL Inventory Account and GL
Cost of sales account. After entering the ID and description we will associate the GL sales Account,
GL Salary/Wages Account and GL Cost of sales account with the accounts created in chart of
accounts with its ID. Following is the window for labor where we will enter the mandatory
information.

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After completing this labor we will move on towards “Assembly”. From “Item class” we will
select “Assembly”. On selecting this following screen will appear on the desktop screen.

Here we will enter the mandatory information for creation of a new assembly. Assembly refers
to a complete finished product. As we are making computers so our finished products will be
COMPUTERS. We will enter the ID, Description for that account, GL sales Account, GL Inventory
Account and GL Cost of sales account. After entering the ID and description we will associate the GL
sales Account, GL Inventory Account and GL Cost of sales account with the accounts created in chart
of accounts with its ID. We can also use “unit/Measure” option where we can enter the unit in
which we measure that certain raw material or assembly. Here after completing this information we
will click on “Bill of materials” and following window will appear on our desktop screen.

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Here we have to mention the ID, Description and Quantity needed to make one finished product
which is a COMPUTER in this case. We will enter the ID in “Item ID” and automatically “Description”
will be entered by the software. We will add the quantity needed as per our production
requirements. After completing this all process we will press on “Save” button to save the assembly.

ENTERING BEGINNING BALANCES OF INVENTORY
We can add the beginning balances of the inventory by using this software. We can do this by
clicking on “Maintain”. By clicking on “Maintain” following window will appear on the desktop screen.

From here we click on “Inventory items…” in order to enter our beginning balances of the
inventory items in the software. On clicking “Inventory items…” following window appears on the
desktop screen.

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From this window we will click on “Beginning Balances” option and on doing such following

Here we will enter the balances of the inventory items one by one by selecting them. We will
enter a specific inventory item to enter the balance and enter the number of units in hand in “Quantity”,
Per unit cost in “Unit Cost” and remaining “Total Cost “will be automatically calculated by the software.
After entering the beginning balances for the inventory items as per our requirements, we press on
“OK” in order to save the data entered in the software. Now we can check the inventory item available
with us. For this we will click on “Reports” and following window appears on the desktop screen.

From here we will click on “Inventory….” And following window appears on our desktop screen.

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From this window we will select “Inventory stock status report”. This report tells us about the
status of our inventory items. The inventory items are deducted from here as per usage. This shows a
complete sheet of our inventory in hand. Following is the window which appears on the screen on
selecting this report. If we have entered the beginning balances of our inventory items then balances
will be shown in this report as shown in the following window.

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HOW TO MAKE A PURCHASE ORDER
There are different methods using which we can create a purchase order in Peachtree
accounting software. For this we can directly create the purchase order from the task window or we can
also create the purchase order from navigation aid. To create the purchase order from navigation aid
window we will first open our company and then click on “Options” and following window will appear
on the desktop screen.

From this window we will click on “View Navigation Aid”. On clicking this new navigation
window will appear on the desktop screen.

We can directly create a new purchase order from this window by clicking on “Purchase order”.
By clicking on “Purchase order” following window will appear on the desktop screen where we will
create the purchase order.

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There is another method of creating a new purchase order from Peachtree software. For this we
will click on “Task” menu and following window will appear on the desktop screen.

From this window we will click on “purchaser orders…” in order to create a new purchase order.
By clicking this “purchaser orders…” following window will appear on the desktop screen.

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This is the purchase order which will be created as per requirements. At the top left side of the
purchase order is “Vendor ID” where we will enter the ID of the Vendor. In this field we will associate
the Vendor’s account with its ID. In “Remit To” name of the vendor and address of the vendor is shown
automatically on selecting a specific vendor. In “Ship to” the address of our company or the destination
address is displayed. This is the address where we want to receive the goods. On the right side of the
purchase order there are two dates displayed. First “date” is the date when purchase order was created
and “Good Thru” is the date when we want to receive the goods. In “PO No” we write the purchase
order number which is very much important. “Close PO” is the option which is used to close the
purchase order. By selecting this, purchase order is closed. For instance the purchase order was for 100
items and we only received 80 items then by clicking on this “Close PO” we mean that we will not
receive the remaining 20 items. On selecting “Drop Ship” the goods which are not received yet will be
cancelled. So to cancel the receiving if remaining items we can select this option of “Drop Ship”. Then in
“terms” the default terms of that specific vendor selected is displayed which can also de edited. Then
we associate the account payable account in “A/P Account” field by entering the ID of account payable
as mentioned in chart of accounts. Then in “Quantity” we enter the quantity required, in “Item” we
enter the ID of those required items, in “description” automatically the description of the entered item
ID will be displayed, in “G/L Account” we enter the ID of the inventory account, in “Unit price” the price
of that required item is entered, in “Amount” automatically the total amount for that specific item is

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calculated. After filling all these terms we will click on “Save” in order to save the created purchase
order.

HOW TO RECORD RECEIVING OF INVENTORY
The inventory can be received after the issuance of purchase order or it can also be received
without even issuing the purchase order. We can call the inventory or can order for the required
inventory to the vendor through a phone call and in this case no purchase order will be made by the
company ordering the inventory.

RECEIVING INVENTORY AFTER ISSUING PURCHASE ORDER:

For this we will first open the company in the Peachtree accounting software. After opening the
company we will press “Task” from the menu bar and following window will appear on our desktop
screen.

From this window we will select the option “Purchase/Receive Inventory…..” and on selecting
this option following window will appear on our desktop screen.

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To enter the inventory received first we will select that vendor ID from which we have ordered
the inventory. This ID of vendor will be mentioned in “Vendor ID” field. As soon as we select the ID the
window appearing on our desktop screen shift from “Apply to purchases” to “Apply to purchase Order”
and following window appears on our desktop screen.

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From this window we will click on the options available in front of “Apply to purchase Order No”
and on doing so following window will appear on our desktop screen.

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Here we will enter the inventory received by us. In the “Received” column we will enter the
amount of inventory received. Other calculations will be made automatically by the software. In “Invoice
No” we will mention the invoice no against which we have received the inventory. This is a mandatory
option because without this the invoice will not be recorded in the Peachtree accounting software. If we
have not received the invoice against the inventory received then we can click on “Waiting on Bill”. We
can also use “Drop Ship” option if we are not going to receive the remaining inventory as mentioned in
the purchase order. After entering the invoice number we will press “Save” button in order to save the
receiving of the inventory. Now we can receive fewer inventories as compare to our ordered inventory
or we can also receive more inventory than ordered inventory or we can even receive equal amount of
inventory as ordered by us in the purchase order.

RECEIVING INVENTORY WITHOUT ISSUING PURCHASE ORDER:
For this we will first open the company in the Peachtree accounting software. After opening the
company we will press “Task” from the menu bar and following window will appear on our desktop
screen.

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To enter the inventory received we will first enter the ID of the vendor in the “vendor ID” field
or if we have not created the account of that vendor then we will create the account of that vendor by
double clicking on “Vendor ID” field. After this we will enter the “Invoice No” against which we have

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received the inventory. This is a mandatory option because without this the invoice will not be recorded
in the Peachtree accounting software. If we have not received the invoice against the inventory received
then we can click on “Waiting on Bill”. Then after entering the date we will start entering the inventory
in the sheet. In “Quantity” column we will enter the quantity of inventory received, in “Item “column we
will enter the ID of that received item as mentioned in our chart of accounts, in “Description” software
will enter the information automatically as par accordance with the information entered while creating
that specific account in chart of accounts. In “GL Account” we will enter the ID of the inventory account.
Rest calculation will be done by the software itself. On completing this we will click on “Save” button in
order to save the receiving inventory in the software.

RECEIVING SOME INVENTORY AFTER ISSUING & WITHOUT ISSUING PURCHASE ORDER:
We can also receive some part of our inventory after issuing the purchase order while
some part of inventory without issuing the purchase order. For this we will first open the company in the
Peachtree accounting software. After opening the company we will press “Task” from the menu bar and
following window will appear on our desktop screen.


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To enter the inventory received without any purchase order we will first enter the ID of the
vendor in the “vendor ID” field or if we have not created the account of that vendor then we will create
the account of that vendor by double clicking on “Vendor ID” field. After this we will enter the “Invoice
No” against which we have received the inventory. This is a mandatory option because without this the
invoice will not be recorded in the Peachtree accounting software. If we have not received the invoice
against the inventory received then we can click on “Waiting on Bill”. Then after entering the date we
will start entering the inventory in the sheet. In “Quantity” column we will enter the quantity of
inventory received, in “Item “column we will enter the ID of that received item as mentioned in our
chart of accounts, in “Description” software will enter the information automatically as par accordance
with the information entered while creating that specific account in chart of accounts. In “GL Account”
we will enter the ID of the inventory account. Rest calculation will be done by the software itself. On
completing this we will click on “Save” button in order to save the receiving inventory in the software.

To enter the inventory received after issuing the purchase order, first we will select that vendor
ID from which we have ordered the inventory. This ID of vendor will be mentioned in “Vendor ID” field.
As soon as we select the ID the window appearing on our desktop screen shift from “Apply to
purchases” to “Apply to purchase Order” and following window appears on our desktop screen.

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Here we will enter the inventory received by us. In the “Received” column we will enter the
amount of inventory received. Other calculations will be made automatically by the software. In “Invoice
No” we will mention the invoice no against which we have received the inventory. This is a mandatory
option because without this the invoice will not be recorded in the Peachtree accounting software. If we
have not received the invoice against the inventory received then we can click on “Waiting on Bill”. We
can also use “Drop Ship” option if we are not going to receive the remaining inventory as mentioned in
the purchase order. After entering the invoice number we will press “Save” button in order to save the
receiving of the inventory. Now we can receive fewer inventories as compare to our ordered inventory
or we can also receive more inventory than ordered inventory or we can even receive equal amount of
inventory as ordered by us in the purchase order. Both the inventories, received after issuing the
purchase order and received without issuing the purchase order will be saved on clicking on “Save”
button at a time. So in this way we can also record the mix receiving of the inventory.

HOW TO MAKE A QUOTATION IN PEACHTREE ACCOUNTING SOFTWARE

We create customer quotation for our customers so that they could read our quotation which
includes our prices, terms and conditions, rules, consignment package rules and all the other required
information regarding order placing. For this first of all we will open the company from the software and

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after opening the company in the software we will click on “Task” menu above and following window
will appear on our desktop screen.

From here we will select “Quotes/Sales Orders” and sub window will appear on our screen as
shown below.

Now in order to create a quotation for the customer we will be clicking on “Quotes…” and
following window will appear on our desktop screen on clicking it.

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In the “Customer ID” field we will be entering the ID for the customer to whom we are going to
send the quotation. If the address was entered will creating that customer in the software then the
address will automatically appear in “Bill To”. In “Date” we will entering the date of making quotation, in
“Good Thru” we will be entering the date till which we want to make this quotation valid. After this
good thru date mentioned the company will be not responsible for terms and condition mentioned in
the quotation but it may vary as per the conditions. In “Quote No” , which is mandatory, we will be
entering the quotation number for the reference of this quotation so that we can easily find this
quotation when required from quotation list in the software. After filling all the required information to
create the quotation in the window along quantity, Item, description, Unit price, tax and amount we
save the quotation by clicking on “Save”.

HOW TO MAKE A SALE ORER IN PEACHTREE ACCOUNTING SOFTWARE

Sale order is prepared as we receive the purchase order or it may be made even by receiving the
order on call. The main purpose of creation of sales order is that it is a notice published to the store
manager or concerned authority to issue the mentioned amount of items in the sales order. So after
seeing this sales order the goods are prepared for sales. To open this sales order in the software first we

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open the company in the software and then click on “Task” from the top bar and a following window
appears on our desktop screen.

shown below.

Now in order to create a sale order we will be clicking on “Sales orders…” and a following
window appears on our desktop screen.

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In the “Customer ID” field we will be entering the ID for the customer to whom we are going to
send the quotation. If the address was entered will creating that customer in the software then the
address will automatically appear in “Bill To”. In “Date” we will enter the date of making sale order, in
“Good Thru” we will be entering the date till which we want to send the goods ordered in sale order. In
“SO No” , which is mandatory, we will be entering the sale order number for the reference of this sale
order so that we can easily find this sale order when required from sale order list in the software. After
filling all the required information to create the sale order in the window along quantity, Item,
description, Unit price, tax and amount we save the sale order by clicking on “Save”. We can also create
the sale invoice or a sale order directly from a quotation. For this we will click on “task” and following
window will appear on our desktop screen.

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shown below.

Now from this window we will click on “Quotes” and following window will appear on our
desktop screen.

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From here we will click on “Open” at the top and select the required quotation which we want
to directly convert to sale invoice or sale order. After selecting and opening that required quotation we
will change the date of quotation as per the requirements of our sale invoice or sale order. After
changing the date we will click on “Convert” and following window will appear on our desktop screen.

If we want to convert the quotation in a sale invoice then we will select the first option “Sale/Invoice”,
enter the “Invoice #” and press “OK”. If we want to convert the quotation in a sale invoice and print it
then we will select the second option “Sale/Invoice and print now” and press “OK”. If we want to
convert the quotation in a sale order then we will select the third option “Sale Order”, enter the “SO #”
and press “OK”.

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HOW TO MAKE A SALE INVOICE IN PEACHTREE ACCOUNTING SOFTWARE

Sale invoice is prepared against the sales made to the customer. As soon as the goods are sold
to the customer we make this sale invoice. We can make this sale invoice against the sale order for after
preparing the sale order or we may also prepare this sale invoice without issuing the sale order. To make
a sale invoice in Peachtree accounting software we first open the company in the software. After
opening that window we click on “Task” from the top bar and following window appears on the desktop
screen.

Now in order to make a sale invoice we click on “Sales/invoicing…” and following window

HOW TO RECEIVE THE CASH IN THE SOFTWARE

To record the receiving of the cash from our customers we click on “Task” and following window

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From here we select “Receipts…” and following window appears on our desktop screen.

In this window we will first select the Customer from “Customer ID” from whom we are going to
receive the amount. After this we will enter the reference number, receipt number and date in the
required fields. As we select the customer from CUSOTOMER ID field the tab shifts from “Apply to
Revenues” to “Apply to Invoice No:” and following window appears on our desktop screen.

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From here we will click on the “Pay” if the whole amount due is received against any invoice
while if any part of the amount is received then we mention that amount in “Amount Paid” and then
click on “Pay” and click “Save” to save the Receipt in the software.

HOW TO RECORD SALES RETURN IN THE SOFTWARE

To record the sales return in the software first we must make a sale. To make a sale we open
our company in the Peachtree accounting software and click on “Task” from the toolbar at the top of
the software. On clicking this “Task” option, following window on our desktop screen.

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From this window displayed on our desktop screen we will click on “Sales/Invoicing….” In order
to record a sale in the software. On clicking this option, following window appears on the desktop
screen.

Here we will select a customer by mentioning the ID of that customer in “Customer ID” field and
fill out all the necessary items required in order to record a sale in the software. Recording sales in the
software has been illustrated before in the guide. After recording the sales we will close the window and

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will again click on “task” from the toolbar and from the options in the toolbar we will click on “Credit
Memo” which is used to record the sale return from the customer. On clicking the “Credit Memo”,
following window appears on our desktop screen.

Here in the “Customer ID”, we will mention the ID of that customer to whom we have made the
sales in the past and now that customer has returned some of the items to us. As we select the
CUSTOMER ID the tab shifts from “Apply to sales” to “Apply to Invoice No:”. Following window appears
on the desktop screen as the tab shifts to “Apply to Invoice No:”.

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From this window we will select the Invoice against which the returns are being made from the
option in front of “Apply to Invoice No:”. After this we will enter the date in the required field and Credit
No under the date option. After this we will just mention the quantity of items returned by the customer
in “Returned” field and after entering the complete return we will click on “Save” option in order to save
the credit memo. To check whether the goods returned have been recorded in the financial reports or
not we click on “Reports” from the toolbar and following window appears on the desktop screen.

From here we select “Account Receivable…” option and following window appears on our
desktop screen on clicking this option.

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From here we can open the “Customer Ledgers” report and can see the returns made by the
customer to us.

HOW TO RECORD SALES RETURN IN THE SOFTWARE

To record the purchase return in the software first we must make a purchase. To make a
purchase we open our company in the Peachtree accounting software and click on “Task” from the
toolbar at the top of the software. On clicking this “Task” option, following window on our desktop
screen.

From this window displayed on our desktop screen we will click on “Purchase/Receive
inventory….” in order to record a purchase in the software. On clicking this option, following window

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Here we will select a vendor by mentioning the ID of that vendor in “Vendor ID” field and fill out
all the necessary items required in order to record a purchase in the software. Recording purchase in the
software has been illustrated before in the guide. After recording the purchase we will close the window
and will again click on “task” from the toolbar and from the options in the toolbar we will click on
“Vendor Credit Memo…” which is used to record the purchase return to the vendor. On clicking the
“Vendor Credit Memo…”, following window appears on our desktop screen.

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Here in the “Vendor ID”, we will mention the ID of that vendor from whom we have
made the purchase in the past and now we are going to return some of the items to that vendor. As we
select the VENDOR ID the tab shifts from “Apply to purchases” to “Apply to Invoice No:”. Following
window appears on the desktop screen as the tab shifts to “Apply to Invoice No:”.

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From this window we will select the Invoice against which the returns are being made from the
option in front of “Apply to Invoice No:”. After this we will enter the date in the required field and Credit
No under the date option. After this we will just mention the quantity of items returned to the vendor in
“Returned” field and after entering the complete return we will click on “Save” option in order to save
the vendor credit memo. To check whether the goods returned have been recorded in the financial
reports or not we click on “Reports” from the toolbar and following window appears on the desktop
screen.

From here we select “Account payable…” option and following window appears on our desktop
screen on clicking this option.

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From here we can open the “Vendor Ledgers” report and can see the returns made by the
customer to us.

HOW TO RECORD A JOURNAL ENTRY IN PEACHTREE SOFTWARE

To record a journal entry in the Peachtree accounting software, we will first open our company
in the software and after owning the company in the software we will click on “Task” and following
window will appear on our desktop screen.

Now from this window we will select “General Journal Entry…” in order to pass a journal entry in
the software. On clicking this, following window will appear on our desktop screen.

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This is the simple format of a general journal which is used to pass journal entries. Here we will
enter the date of the transaction in the “Date” area. We can also give any reference ID to the recorded
transaction by mentioning that ID in “Reference” area. By mentioning this ID, searching transactions in
the general journal will become easy. In “GL Account” we enter the ID of the account which is involved
in the transaction. It can be any account like salaries expense account, wages account, commission
account, discount account or any account according to the situation. The first line is for debit while the
second line is for credit. If there are two items in debit then first two lines can be used for debit items
while in contrary if there are two items of credit then two lines beneath the debit line or lines can be
used to record the credit items in the general journal. In “Description” we can enter any description
related to the journal entry. In “Debit” we enter the debit amount while in “Credit” we enter the credit
amount of the transaction. Like this the journal entry is passed and then saved by clicking on “Save”
button at the top bar.

HOW TO USE GLOBAL OPTION IN PEACHTREE SOFTWARE

This option is one of the most important options in the whole software. As customer default is
related to customers options, vendor default is related to vendor, so is the global option which is related
which the most important options in the complete software. These options will be explained further in

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this topic. To open a global options window we will click on “Options” after opening the window and
following window will appear on our desktop screen.

From here we will select the option of “Global…” and on selecting this option following window
will appear on our desktop screen.

This is the main window of global options. From here we can edit the by default settings of some
of the most important options of Peachtree accounting software.

ACCOUNTING:

“Accounting” is the first tab in this global window. In the first option we see, “Decimal Entry”
option. This option is for the number of decimals after the zero. We can select the decimals as per our
requirements from the option available by the name, “Number of decimal places”. The maximum
number of decimals which we can select are “5”. We can also select the decimal placing automatically
by clicking on “Automatic” then selecting the number of decimal places as per our requirements. But for
this we will have to first select the number of decimal places first and then the option of “Automatic”.
Then after this we have “Hide general ledger accounts” option from where we can hide account
receivables and account payables from different options in the software such as hiding the account
receivable from sale order by selecting account receivable and same will be the procedure for account
payable. In “Other Options” we can select different available options to implement them in our
complete software. All the settings made here will be implemented in the whole software. After
changing all these options or required options we click on “Ok” to save.

GENERAL:

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This is the “general” window. The first option under “Improve performance” is to print the total
number of pages in the report or statements and number of quantity in hand display. The second option
is “Line item entry display”. If we select “1 Line” from here then it means that if we are entering a
journal entry in the general journal then we have one spare line beneath each debit line to enter the
other item and if we select “2 Line” then we have two spare lines beneath each debit line to enter the
other two items. Then we can also select the color theme for our software as per our taste.

PEACHTREE PARTNERS:

From here we can select the security level for our software. We can keep it Low, Medium or
High as per our requirement.

SPELLING:

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From here we can select the dictionary according to which we want our spellings to be checked
and this dictionary will we selected from “Main Dictionary Language” option. Then we have many
different option related to spell check and words in “Running Options”.

HOW TO SET SECURITY CODE FOR PEACHTREE USERS

If we are a firm in which there are many employees using the same Peachtree software like sales
department using sales invoices, HR departments entering the journal entries for payroll and related
expenses then we can lemmatize their authorities to their respective job. In this case we will have to
create different users having different passwords and each of these users having their own accessibility
options and rights as per the employee job. But we must have at least one administrative account
having full access and control over the software. By using this administrative account we will be able to
edit the control of other users and their rights. To create these users we must first open the company in
the software and after opening the window we will click on “Maintain” and following window will
appear on our desktop screen.

From here we select the option, “Users….” And on selecting this option following window

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From here we click on ‘Ok” in order to move forward and following window appears on our
desktop screen on clicking “Ok”.

Here in this window we enter the User ID allotted to any employee in “User ID” field. This USER
ID can be numerical or can be alphabetical as per our requirements and then we allot a password to
each of these users in “Password” field. The password selected for these employees or users must be
unique from one another. Same passwords will not be accepted by the software. We need to create one
administrative user in which all the rights should be allotted completely so we will create a new user and
will save it by clicking on “Save” button at the top of the window. Then we need to create a user other
than administrative user having limited authority over the software. For this we will again allot a unique
ID to the user and a unique password and will restrict him or her as per our requirements. We can
restrict the user by the “Control” tab. By clicking on it following window appears on our desktop screen.

If we want to give no access to that user to System then we will click on “No Access” in the
control option in front of System and we can then further edit the control for other program areas as
per our requirements. We can further edit the description portion for any program by clicking on their
respective tabs above. For example, to change the description of Inventory we will click on the tab of
Inventory. On clicking the tab of inventory following window appears on the desktop screen.

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From here we can edit the control over the program area inventory for any user. To edit the
control we click on Control option in front of required portion like if we want to make any change in
Maintenance then we will click on control option in front of maintenance and on clicking it following
window will appear on the desktop screen.

From here we can select the control as per our requirements and restrictions. Then after editing
the control we need to save these control made by clicking on “save” option at the top of the Maintain
users window task bar.

Set up for a new company in Peachtree

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