How to Change the Global Options

                                      Global Options

Here you can modify the Default Settings that how data is displayed in Peachtree. To display and modify the Peachtree global settings, go to the Options menu and click Global from the drop down list.

This is the default global window that is shown below.  Make sure you are on the Accounting Tab.

è Decimal Entry

Here on the top you can see the first thing which is Decimal Entry option. The option is used for the number of decimals after the zero. In Number of decimal places you can select the decimals as per the requirements from the option.

In the given below screenshot you can see the Unit Price box, 2 decimal numbers are displayed after the zero.

This is the example, if we change the number of decimals from 2 to 4; it will show the 4 decimal numbers after the zero as shown below in the picture.

è Hide General Ledger Accounts

Here we can hide Account Receivables and Account Payables from different options.

If you uncheck the option of Accounts Payable just like in the picture. The impact is shown in the next step.

In the Purchase/receive inventory you will notice the Account Payable option is displayed in the picture shown below.

If you check the mark of Accounts Payable then you can see the Account Payable Option is not displaying.

è Recalculated Cash Balance

Here you can change the option whether the cash balance should be calculated by default or not. So you can change the option by check or uncheck the option.

If you have checked the option of “Recalculated cash balance” you can see in the “Payments” the software calculated the balance shown below in the picture.

General Tab:

By selecting the General Tab you will see the General window as shown below. Here we can modify the printing optional also you can change the number of quantity in hand display by check or uncheck the option as per your requirement.

Peachtree Partners:

This option is used for the security purpose among the partners. You can modify as per you requirement.

Spelling Check:

This is the Spelling Check default window. Here you can Check or Uncheck the different option regarding the spelling check. You can also select the dictionary for the correction of words.

Receive Inventory and Payments

         Purchases/Receive Inventory

After recording the purchase order, next step is to record the Receive Inventory.

è Go to Task Menu and select the Purchase/Receive Inventory as shown below in the figure.

è A new window will appear like below.

è  Enter the Vendor ID if you have already saved in the list by clicking on look button and select it.

è  If you didn’t saved any vendor yet make a new vendor account by double clicking in vendor name box, a new window of vendor will appear as we told you before in maintain vendor Account. Make a new vendor and then select it.

è Here you will select the date on which inventory would received. That date should be matched with the Good Thru” “

è  Invoice number is compulsory you can give any number in sequence.

è Here you will select the tab “Apply to purchase Order No.:”

è Then select the purchase order No “0004” as shown in the given figure.

è Now enter the quantity of inventory received and unit price.

                         Payments

After recording the Receive Inventory, next step is the payment of the Goods recieved.

è Go to Task Menu and select the Payments as shown below in the figure.

è A new window will appear like below.

è  Enter the Vendor ID if you have already saved in the list by clicking on look button and select it.

è  If you didn’t saved any vendor yet make a new vendor account by double clicking in vendor name box, a new window of vendor will appear as we told you before in maintain vendor Account. Make a new vendor and then select it.

è Here you need to enter the “Check Number” and “Date” which is must. If you are paying the amount in the discounting period then you will be allowed discount and it will appear in the discount column

è Here you can see the invoice number, date Due, Amount Due and discount.

è Here you need to check the “Pay” box.

è If you are doing payment in the discounting period then “Discount Account” will appear and choose the income account by clicking n the look button.

How to create Purchase Orders

            How to create Purchase Orders

Purchase order, where we record the orders which are made to the vendors. Therefore we required the Vendor Id to fill up the purchase order. If the vendor Id is not already exist then you have to create it before recording any order regarding to the vendor.

First of all go to the Task menu and select Purchase Order.

A new window will open as given below.

There are some important things that need to be filled compulsory as given below:

·         Vendor ID

·         Date

·         Good Thru

·         PO No

·         Quantity

·         Unit Price

Vendor ID: Here you need to enter the vendor id to whom the purchase order would have given.

Date: You need to select the current date at which you are placing an order, if it is not then you have to change it.

Good Thru: Select the date at which you want to receive the order. It would be a days or a couple of months.

PO No: It is very compulsory to enter the purchase order number for further process. You can modify it by your ordering sequence.

Quantity: In this box type the quantity of units that is going to order.

Unit Price: Here you will give the price on which a unit is purchased.

How to maintain Vendors and Its Information

                               Maintain Vendors 

If you want to maintain the vendors, first of all you need to open the Peachtree Accounting software.  After this go to “Maintain” and click “Vendors” as shown in the figure below.

This is the default window of the vendors.

Vendor ID:

Here you need to fill out the required information regarding to the supplier. Here first of all we allocate the vendor with a unique ID. Every vendor is represented by different ID and no ID will be allotted twice to the vendors. Then we type the name of the vendor in the “Name” box.

General:

In the Maintain vendor, make sure “General” tab is already selected, if it is not then select it by clicking on it. Here you are going to fill the basic information of the suppliers. This tab contains the basic information of the Vendor. Contact No, Account No, Address, City, Country, Vendor type, Telephone no, Email ID and Website etc.

Purchase Default:

This tab needs to be filled by

1.       Purchase Rep: If supplier is dealing through any purchaser then this option will help you to fill out by purchase representative name.

2.       Purchase Acct: This is general ledger purchase account. In order to fill this option you have to select “Inventory Account” by clicking on the search button which is next to the filling row and before this you need to verify that Inventory account is already exist in “Charts of Accounts”.

3.       Ship Via: here you can select the shipping medium that would be use as a primary shipment from the relative supplier.

Custom Fields:

If you have extra information of the supplier and the previous tabs don’t have the option to save that info, you can save them here.

1.       Office Manager

2.       Account Rep

3.       Special Note

Note: “You can change the filling options with a procedure that is not going to describe here right now”

History:

This tab shows the history of transactions that were made in prior periods relating to the specific Vendor. More on window will show the last invoice date and its amount, last payment etc.

                               Maintain Vendor Information

First click on Maintain then select Default Information a sub menu will open; select Vendors by clicking on it as shown in figure below.

Payment Terms:

This is the default view of the “Payment Terms” here you see the “Due in Numbers of Days” is already selected. This shows the options of:

·         Net Due in

Defines the total days for which the purchases are made on credit.

·         Discount In

If the payment of credit purchase is made in number of days the discount will be allowed on the payment.

·         Discount %

Here you will mention the discounted rate that would be allowed on the amount.

·         Credit Limit

It creates the boundary for the amount that can be nominated as the credit limit.

C.O.D:

If you select the C.O.D you can see the Due on the, Discount in, and Discount % option goes inactive. You can only edit credit Limit.

Here you need to select the “Inventory Account” in the “Purchase Account” by clicking on the search button. After selecting the account it will be the default account of sales that will be shown in the Maintain Vendors Payment Terms default tab.

Account Aging:

Here in Vendors Account, aging refers to the people of that category who don’t pay their amount that were due. Here we can define the time period by giving the intervals of days as shown below in the figure.

Custom Fields:

Custom fields can be used to store the extra information about the customers. You can edit the labels by giving them the names that were relate to the information to be stored. The enabled box must be checked for text to be entered.

1099 Settings:

How to Maintain Customers/Prospects and Its Information

How to maintain customers/prospects

After making company profile and adding its chart of accounts, time to maintain customer accounts. First you need to open Peachtree accounting software. Then open your existing company in which you want to maintain customer Account. Go to the “Maintain” and select the option “Customers/Prospects” by clicking on it. As shown below in the figure.

A new window will pop up as shown in figure below, which needs to be filled by information relating to the customer. Data of customer can be maintained with different prospects like:

·         General

·         Sales Default

·         Payments Defaults

·         Custom Fields

·         History

Header:

This is the header which needs to be filled compulsory. You can give Customer ID E.g. 201 or 300, any three digit numbers, it can be more than three digits depends on number of customers you are dealing with.

General:

This tab contains the basic information of the customer. Contact No, Address, City, Country, Customer type, Telephone no, Email ID and Website etc.

If customer has different shipping address like more than one office in the country so here is the option to add more than one shipping address. You can select options for multiple addresses by clicking this button

Sales Default:

1.       Sales Rep: If customer is dealing through any sales person then this option will help you to fill out by sales representative name.

2.       GL sales Acct: This is general ledger sales account. In order to fill this option you have to select “Sales Account” by clicking on the search button which is next to the filling row and before this you need to verify that Sales account is already exist in “Charts of Accounts”.

3.       Open. P.O: This is the purchase order number of the customer.

4.       Ship Via: here you can select the shipping medium that would be use as a primary shipment to the relative customer.

Payment Defaults:

If customer is willing for payments through Credit Card, then this tab needs to be filled at least by the info Cardholder’s Name, Credit card Number and Expiration Date.

Custom Fields:

If you have extra information of the customer and the previous tabs don’t have the option to save that info, you can save them here.

1.       Second contact

2.       Reference

3.       Mailing list

4.       Multiple sites

Note: “You can change the filling options with a procedure that is not going to describe here right now”

History:

This tab shows the history of transactions that were made in prior periods relating to that specific customer. More on window will show the last invoice date and its amount, last payment etc.

        Maintain Customer Information

First click on Maintain then select Default Information a sub menu will open; select Customers by clicking on it as shown in figure below.

A default window will open that contains the tabs of:

·         Payment Terms

·         Account Aging

·         Custom Fields

·         Finance Charges

·         Pay Methods

Payment Terms:

This is the default view of the “Payment Terms” here you see the “Due in Numbers” is already selected. This shows the options of:

·         Net Due in

Defines the total days for which the sales are made on credit.

·         Discount In

If the payment of credit sales is made in number of days the discount will be allowed on the payment.

·         Discount %

Here you will mention the discounted rate that would be given on the amount.

·         Credit Limit

It creates the boundary for the amount that can be nominated as the credit limit.

C.O.D (Cash on Delivery):

If you select the C.O.D you can see the Due on the, Discount in, and Discount % option goes inactive. You can only edit credit Limit.

Here you need to select the “Sales Account” in the “GL Sales Account” by clicking on the search button. After selecting the account it will be the default account of sales that will be shown in the Maintain Customer/Prospects sales default tab.

If you already don’t have the sales account you can double click in the label box. A new window of “Maintain Chats of Accounts” will appear. Here you can easily make a new account of sales by giving the ID, Description and selecting the account type as shown in the figure below.

Account Aging:

Account aging refers to the people of that category who don’t pay their amount that were due. Here we can define the time period by giving the intervals of days as shown below in the figure.

Custom Fields:

Custom fields can be used to store the extra information about the customers. You can edit the labels by giving them the names that were relate to the information to be stored. The enabled box must be checked for text to be entered.

See the last label box in the previous figure it was unable to write. When you enabled the check box as shown in the figure below it will active the “label name box” which can be writable.

Finance Charges:

It defines the finance charges that would made on the amount due to the customer.

Charge Finance Charges:

Here you will mention 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 days grace period. Finance charges are calculated from the first day the invoice becomes overdue.

On Invoices:

Here you will mention the number of days after which the charges becomes due.

Up to $:

Here you need to enter the amount which would limit the annual interest rate. If the balance below this rate, the rate in the annual interest rate field will apply. On balances over this amount, the second interest rate applies.

Annual Interest Rate:

It is the annual interest rate for balances above the amount. If you want to enter only one rate, enter the same amount in both boxes otherwise it will manipulate the charges.

Minimum Finance Charges:

Here you can mention the minimum finance charge amount that will apply when a customer is late with a payment. If the calculated amount is less than the minimum, the minimum amount will be used.

You can select here the label of “Late Charges or Finance Charges” that would appear on invoices and statements of the customer.

Payment Methods: