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COPYRIGHT
© 2008 Sage Software, Inc. All rights reserved. The Sage Software logo, Peachtree,
Peachtree Premium, Peachtree Complete, Accounting Behind the Screens, Peachtree
Today, and the Peachtree logo are registered trademarks or trademarks of Sage Software,
Inc. or its affiliated entities. All other trademarks are the property of their respective
owners. For more information, call 800-247-3224 or visit us online at
www.peachtree.com.
No part of this book may be reproduced or transmitted in any form; electronic,
photocopying, or by any other means, without prior written permission of Sage Software,
Inc. Printed in the United States of America.
FIRST EDITION, JUNE 2008
DISCLAIMER
Information in this book is subject to change without notice. Company names and data
used as examples herein are fictitious unless otherwise noted. The information in this
book is distributed “as is,” without warranty. While every precaution has been taken to
assure the quality and accurateness of the information contained herein, Sage Software
assumes no liability to any person or entity with respect to any loss or damage caused by
or presumed to be caused by the instructions contained in this book or by the software
described in it.
i
PEACHTREE BY SAGE QUANTUM 2009 BASIC SELF-
STUDY GUIDE
DESCRIPTION
This course was developed for Peachtree users who want to master Peachtree Quantum
2009. It offers more than 40 activities to demonstrate how to use Peachtree to help you
run your business.
LEVEL BASIC
SOFTWARE RELEASE 2009
OBJECTIVES
You will learn to:
• Use basic Peachtree features
• Set up a new company
• Set up and use General Ledger
• Set up and use Accounts Payable
• Set up and use Accounts Receivable
• Set up and use Payroll
*For a complete list of specific topics covered within each chapter of this guide, please
refer to the Table of Contents.
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T ABLE OF C ONTENTS
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A
INTRODUCTION . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1
Using This Guide. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1
Basic Navigation and Getting Help . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2
Help . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2
Starting Peachtree . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3
Using the Peachtree Icon . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3
Using the Start Menu . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3
The Start Screen. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4
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SETTING UP ACCOUNTS PAYABLE . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 45
Entering Vendor Defaults . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 46
Vendor Defaults Window . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 46
Payment Terms Tab. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 46
Account Aging Tab . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 47
Custom Fields Tab. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 48
1099 Settings Tab . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 48
Adding Vendors. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 50
Maintain Vendors Window . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 50
Header Fields . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 51
General Tab . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 51
Addresses tab . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 52
History Tab . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 53
Purchase Info Tab . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 54
Insurance Tab. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 55
Entering Vendor Beginning Balances . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 58
Vendor Beginning Balances Window . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 58
Vendor Balances Tab. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 58
Purchases From Tab . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 58
SETTING UP INVENTORY . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 61
Entering Inventory Defaults . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 62
Inventory Item Defaults Window . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 62
General Tab . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 63
Ordering Tab . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 63
GL Accts/Costing Tab . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 64
Taxes/Shipping Tab . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 66
Custom Fields Tab. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 67
Price Levels Tab . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 67
Adding Inventory Items. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 73
Maintain Inventory Items Window . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 73
Header Fields . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 74
General Tab . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 74
Custom Fields Tab. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 75
History Tab . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 75
Entering Inventory Beginning Balances . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 81
Inventory Beginning Balances Window . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 81
LISTS . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 139
Viewing a List . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 140
The List Window . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 140
Adding a new Record or Transaction . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 140
Editing an Existing Record or Transaction . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 141
Searching for a Record or Transaction . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 141
Printing a List . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 141
Customizing a List. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 142
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Entering General Journal Entries. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 146
General Journal Entry Window . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 146
Recurring Journal Entries . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 148
General Ledger Reports. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 151
Report Descriptions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 151
Financial Statements . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 153
Report Descriptions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 153
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1
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1 INTRODUCTION
Basic Navigation and Getting Help
Help
Accessing online Help is easy in Peachtree. You can access Help by clicking the Help
button, pressing F1, or using the Help menu.
• Help Button: This button is available on most Peachtree windows. Help topics relating
to the current window appear when you click the Help button.
• F1: Displays Help topics relating to the current window.
• Help Menu: Lists all Help options available in the program. The various topics are
categorized in the Contents and Index options. The How To section of the Table of
Contents is particularly useful, because it gives a list of step-by-step instructions for
nearly every feature of Peachtree.
Peachtree has additional Help related items:
• What’s This?: Displays context-sensitive information for most fields in Peachtree. To
access this feature, right-click on a field and select What’s This?, or press SHIFT+F1
and click on a field.
• Peachtree Accounting Guided Tour: Guides you through the basics of navigating
through the various menus and options the program offers. To access this feature, select
Help, Peachtree Accounting Guided Tour from the menu bar.
• Tooltips: Tooltips appear when you pass the cursor over buttons in the toolbars. They
tell you what the button is for.
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1 INTRODUCTION
Starting Peachtree
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2 NEW COMPANY SETUP
Entering Company Information
Once the new company has been created, you can select Maintain, Company Information
at any time to review or update the information entered on this window.
Select Use a sample business type that closely matches your company to automatically
import a chart of accounts for one of these types of companies. You will have a choice of
either simplified charts of accounts or detailed charts. If you select this option, you will
select the type of company on the next screen. You can later add, edit, or delete accounts
and account descriptions.
If you already have a Peachtree company and would like to use a similar chart of accounts
for the new company, select Copy settings from an existing Peachtree Accounting
company.
If you select Convert a company from another accounting program or Build your
own chart of accounts, the chart of accounts selection is skipped, and Peachtree allows
you to create your own chart of accounts once the company has been created.
If you select Consolidate existing Peachtree Accounting companies, you will establish
this company as a holding company whose financials will consolidate information from
companies you specify in the next window.
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2 NEW COMPANY SETUP
Select a Method to Create Your Company
Click the View details about a business type link to see details of the highlighted
business type.
Copy Company
To view the accounts in a company, highlight a company name and the accounts will
appear to the right. To select a company to copy settings from, highlight the company
name and click Next. The next window lists the various components of the company that
9
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2 NEW COMPANY SETUP
Select a Method to Create Your Company
you want to change the account segmentation later, you can do so in General Ledger
Defaults on the Account Segments tab.
• If you do not want to use segments in your Account ID, select No, I do not want to use
Account Masking and click Next.
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2 NEW COMPANY SETUP
Choosing an Accounting Method
You cannot change Accounting Methods once New Company Setup is complete. Ensure
that the correct accounting method is selected before continuing.
Real-time posting updates the General Ledger each time a transaction is entered, which
means your reports in Peachtree always reflect your current financial standing. For this
reason, Peachtree recommends using real-time posting.
The posting method can be changed at any time by selecting Company Information from
the Maintain menu.
13
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2 NEW COMPANY SETUP
Setting Up Accounting Periods
Peachtree allows two fiscal years to be open at a time. Each fiscal year is made up of
accounting periods. At the end of the second fiscal year, you close the first fiscal year to
make the next fiscal year available.
Your accounting period setup should reflect the beginning of your fiscal year, even if you
start entering transactions in the middle of the year. Some examples of common situations
are below:
• The fiscal year starts January 2008 and matches the calendar year. Transactions will be
entered in Peachtree starting in June 2008. The accounting periods should be set up so
that January 2008 is period 1. That means that June 2008 will be period six, and
transactions can be entered for any month between January 2008 and December 2009.
• The fiscal year starts in July 2008 and ends in June 2009. Transactions will be entered
in Peachtree starting July 2008. The accounting periods should be set up so that July
2008 is the first period. This accounting period setup would allow transactions to be
entered in any month between July 2008 and June 2010.
You cannot change Accounting Periods once New Company Setup is complete. Ensure
that the correct accounting periods are selected before continuing.
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2 NEW COMPANY SETUP
Setting Up Accounting Periods
17
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2 NEW COMPANY SETUP
Setup Guide
9 Abracadabra’s fiscal year runs from January to December each year with one
period for each month. Select 12 monthly accounting periods per year and
click Next.
10 Abracadabra’s fiscal year will begin in January 2008. Enter this value and click
Next.
11 You are now ready to finish the Create a New Company Wizard. Select
Finish.
12 A progress window appears as the company is created. When it is finished,
close the Peachtree Payment Solutions screen.
13 Close the Setup Guide.
15 To ensure that the remaining activities in this guide work properly, you will
need to verify the Global Options. Select Options, Global from the menu bar.
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2 NEW COMPANY SETUP
Setup Guide
16 On the Accounting tab, ensure that Hide inactive records and each box in the
Hide General Ledger Accounts section is clear.
Jo urn als
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3 SETTING UP GENERAL LEDGER
Entering General Ledger Defaults
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3 SETTING UP GENERAL LEDGER
Entering General Ledger Defaults
..
HEADER FIELDS
• Account ID: Identifies the account in the chart of accounts, lookup lists, transactions,
and reports. The ID can be up to 15 characters.
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3 SETTING UP GENERAL LEDGER
Modifying the Chart of Accounts
• Description: Enter a description for the account. This description prints on reports and
financial statements.
• Inactive: Select this check box to make the ID inactive. Inactive records are deleted
when the purge utility is run, if they have not been used in any transactions in an open
fiscal year. Inactive records can be used in transactions, but a message appears,
reminding you of the inactive status.
• Account Type: Select a type from the drop-down list. Accounts are grouped by
account type on financial statements. Accounts assigned to the account types of
Income, Expenses, Cost of Sales, and Equity--Gets Closed will close to the account
assigned to the Equity--Retained Earnings account type at the end of the fiscal year.
Account Numbering
Peachtree allows the use of both numbers and characters in an account numbering system.
However, an account numbering system should be established so it can be understood by
everyone, from new employees to accountants. In a traditional General Ledger, individual
accounts are numbered and placed into ranges similar to those in the following table:
30000 Equity
40000 Income
Peachtree’s sample companies use numbering schemes similar to those in the table above.
If you choose not to use a sample chart of accounts, there are a few rules and guidelines
that should be followed when an account numbering system is established.
• Up to 15 alphanumeric characters can be used in an account ID.
• Asterisks (*), question marks (?), and plus signs (+) cannot be used in an account ID.
• Leading or trailing spaces are not permitted in an account ID. However, spaces
between characters are allowed.
• Account numbers are sorted alphabetically, with numbers in the account ID sorted
before letters. For example, account ID “2” lists after account ID “1000” and before an
Account Types
Account types are used to group similar accounts together. They also determine where the
accounts will appear on financial statements, and whether the account typically carries a
debit or credit balance. Peachtree has a wide variety of account types available:
At the end of the fiscal year, the balances of the Income, Expense, Cost of Sales, and
Equity--Gets Closed account types become zero. The net difference of these accounts is
added to the Equity--Retained Earnings account.
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3 SETTING UP GENERAL LEDGER
Modifying the Chart of Accounts
DELETING ACCOUNTS
Some accounts are not needed, so they can be deleted. Follow these steps to delete
accounts:
1 Enter account 15400 for the Account ID.
2 Click the Delete button.
3 Select Yes to confirm you want to delete the record.
4 Using these steps as a guide, delete these accounts:
Account ID Description
40200 Sales #1
40400 Sales #2
40600 Sales #3
ADDING ACCOUNTS
Abracadabra needs to track income from Web sites designed for companies
separately from those designed for individuals. Web sites designed for companies
will use the Commercial accounts, which end in the letter C. Web sites designed for
individuals will use the Personal accounts, which end in the letter P. This will allow
you to track the income for each category and use department-related features.
Follow these steps to add accounts:
1 Click the New button on the toolbar
2 Enter the Account ID 40200-C.
3 Enter the Description Design-Commercial Site.
7 You can view your changes on the Chart of Accounts report. To do so, click the
Reports icon in the toolbar and, from the drop-down list, select Chart of
Accounts. This will open the report on your screen.
8 Select Close to close the report when you are finished.
9 Select Close to close the window.
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3 SETTING UP GENERAL LEDGER
Modifying the Chart of Accounts
Maski ng
The chart of accounts can be divided into departments. When printing certain reports, you
can filter or mask the information that appears. In the window below, the “NU” in account
57000-NU is an example of an account mask.
Quantum offers you the Account Segment feature, which allows you to segment your
chart of accounts and filter reports using drop-down selection lists rather than the masking
method using the asterisk. For information on setting up your company with Account
Segments, see the online Help in Peachtree, or page 23.
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3 SETTING UP GENERAL LEDGER
Entering Account Beginning Balances
When entering beginning balances, entries can be made in previous, current, or future
periods. When entering prior period adjustments, entries can be made only in previous
periods.
Typically, account beginning balances should be entered in the period previous to the first
period in which transactions will be entered. For example, if transactions will be entered
in Peachtree starting in June, the account beginning balances should be entered as of the
end of May.
• Assets, Expenses: Enter the balance of the account if the account typically carries a
debit balance. If the account is a contra account other than accumulated depreciation or
currently carries a credit balance, enter a negative amount.
• Liabilities, Equity, Income: Enter the balance of the account if the account typically
carries a credit balance. If the account is a contra account or currently carries a debit
balance, enter a negative amount.
• Trial Balance: Shows the result of the Assets, Expenses column minus the Liabilities,
Equity, Income column. This value should be zero before you click OK. If this value is
non-zero, the amount shown will post to a Beginning Balances Equity account.
If you click OK to this message, a Beginning Balance Equity account will be created in
the equity section of your chart of accounts. The total out-of-balance amount will post to
this account. Your books will be in balance, and you can enter and post transactions.
However, this account appears on General Ledger reports and on the Balance Sheet until
the amount in it is allocated to another account.
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3 SETTING UP GENERAL LEDGER
Entering Account Beginning Balances
Peachtree suggests you click Cancel to return to the Chart of Accounts Beginning
Balances window. Then, locate and correct errors made when entering account beginning
balances. When the Trial Balance is zero, you can click OK.
This period is selected because the balances for each account are as of January 31, 2008.
3 The Chart of Accounts Beginning Balances window displays the ID,
description, and type for each account. Accounts with a zero balance can remain
blank.
4 Enter the account beginning balances listed on the next page. Not every account
is listed, so use caution and enter the balance for the correct account.
Liabilities,
Assets, Equity,
Account ID Account Description Account Type Expenses Income
10000 Petty Cash Cash 500.00
10200 National Bank Checking Cash 27764.45
10300 Payroll Checking Cash 12000.00
10400 Savings Account Cash 16746.00
11000 Accounts Receivable Accounts Receivable 16547.44
12000 Inventory Inventory 508.00
15000 Furniture & Fixtures Fixed Assets 2000.00
15100 Equipment Fixed Assets 8000.00
15200 Automobiles Fixed Assets 12000.00
17000 Accum. Depreciation-Furniture Accumulated Depreciation 200.00
17100 Accum. Depreciation-Equipment Accumulated Depreciation 600.00
17200 Accum. Depreciation-Automobil Accumulated Depreciation 800.00
20000 Accounts Payable Accounts Payable 9007.00
23100 Sales Tax Payable Other Current Liabilities 532.44
23400 Federal Payroll Taxes Payable Other Current Liabilities 1969.24
23500 FUTA Tax Payable Other Current Liabilities 81.60
23600 State Payroll Taxes Payable Other Current Liabilities 328.42
23700 SUTA Payable Other Current Liabilities 306.00
39005 Retained Earnings Equity-Retained Earnings 83814.69
40200-C Design-Commercial Site Income 4890.92
40400-C Programming-Commercial Site Income 2553.68
50000 Cost of Services Sold Cost of Sales 1877.52
65000 Employee Benefit Programs Exp Expenses 30.54
72000 Payroll Tax Expense Expenses 1581.00
77500 Wages Expense Expenses 5529.04
Total: 105083.99 105083.99
6 To view your trial balance, select Reports & Forms from the menu bar, then
General Ledger.
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3 SETTING UP GENERAL LEDGER
Entering Account Beginning Balances
7 From the Report List section of the Select a Report & Form window, double
click General Ledger Trial Balance.
• Account Filters: Use these filters to select ranges of accounts that you want to view.
Use the Department Mask field to filter your budget by department mask. You can
select to filter by Account Segment, in addition to Type.
• View Fiscal Year: Use this field to select which fiscal year you want to view. You can
select from up to four fiscal years.
CREATING A BUDGET
You can create a budget by selecting Maintain, then Budgets. On the Maintain Budgets
window, enter a Budget Name and Description. Then, select your Account Filter and
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3 SETTING UP GENERAL LEDGER
Entering Account Budgets
Fiscal Year. Finally, fill in the grid below with your budget amounts for each account and
fiscal period.
COPYING A ROW
You can quickly copy a cell on the grid from one cell to another cell or multiple cells. To
do so, enter an amount in a cell. When you select a cell, a small toolbar will appear with
options for copying, pasting, and adjusting. (If you do not see the small toolbar, select
Edit on the menu bar and select Quick Action Buttons to make it appear. You can also
select Copy, Paste, and Adjust from the Edit menu if you do not want to use the Quick
Action buttons.) After you enter the amount, click another cell to save the amount. Then
click the first cell again and click Copy. Then, select the cell that you want to paste the
amount into, and select Paste. The amount is copied. If you want to paste the amount into
multiple cells, click and drag the cursor over those fields. The cells will be highlighted in
blue to indicate they are selected. Then, click Paste. The amount will be pasted into all of
the selected cells.
You can also copy an amount into an entire row in the following way: select an amount,
and then click Copy on the small toolbar. Next, select Edit from the menu bar at the top of
the window. Then, choose Select, and Entire Row. The row will now be highlighted in
blue. Click Paste on the small toolbar in the grid.
COPYING A COLUMN
You can copy a column of your budget by using the Autofill button. Once you have
completed a column for a fiscal period, click the Autofill button.
Select Copy amounts from the open budget, and click Next. Then, complete the fields,
indicating that you want to copy from the completed column into another column. Then
click Finish.
Enter the dollar amount or percentage that you want to adjust the amounts by, and then
specify a rounding figure, if necessary. Finally, click OK. The amounts highlighted will be
adjusted.
If you want to adjust the amounts up, enter a positive number for the dollar amount or
percent; if you want to adjust the amounts down, enter a negative number.
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3 SETTING UP GENERAL LEDGER
Entering Account Budgets
5 In the column for 1/31/08, enter an amount of 12,000.00. Press TAB to move to
11 Using these steps as a guide, enter the budget amounts for these accounts.
Follow steps 5-10 for each account.
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3 SETTING UP GENERAL LEDGER
Entering Account Budgets
7 Click Finish. The budget is copied and the amounts for 2009 appear.
9 On the small toolbar, click Adjust. This will open the Adjust Budget Amounts
window.
10 Enter 10.00 in the Adjust the amount by field, and use the drop-down to
change dollars to percent.
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3 SETTING UP GENERAL LEDGER
Entering Account Budgets
A cco u nts
Payable
J ob C ost
I nv ento ry Acc ou nts
Rece iv able
Jo urn als
General
L ed ger
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4 SETTING UP ACCOUNTS PAYABLE
Entering Vendor Defaults
P A Y M E N T T ER M S T A B
When you open the Vendor Defaults window, the Payment Terms tab appears. On this
tab are the Standard Terms section and the GL Link Accounts section. You can set up
standard payment terms that apply to the majority of the invoices that you receive from
your vendors. You also assign the General Ledger purchases discount account number,
STANDARD TERMS
In the Standard Terms section, you select the terms method most often assigned to you
by your vendors. You will specify the following: the number of days extended to you for
paying your invoices, any discounts, and the amount of your standard credit limit.
Standard Terms are the default terms that apply to vendors. You can change standard
terms for each vendor when you set up the vendor in the Maintain Vendors window.
A C C O U N T AG I N G T A B
Select the Account Aging tab to enter account aging information. You select whether
your purchase invoices/vendor bills should be aged by invoice date or due date, and you
can specify the frequency that your payables age. This information is reflected on the
Aged Payables report and in the Payment Manager.
AGE INVOICES BY
Each invoice/bill and vendor balance appears on your aging report with the number of
days past due.
AGING CATEGORIES
The information in this section determines the aging of your invoices on the Aged
Payables report.
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4 SETTING UP ACCOUNTS PAYABLE
Entering Vendor Defaults
• 1099 Settings: Choose the appropriate option for each account from the list below.
Check with your accountant for the appropriate option, which depends on the type of
1099 you need to produce.
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4 SETTING UP ACCOUNTS PAYABLE
Adding Vendors
ADDING VENDORS
........................................
After entering the vendor default information, the next step is to enter
each vendor. As you add vendors, you can use the default
information that was entered or change the information for specific
vendors. To add or edit vendors, select Maintain, Vendors.
02amazon Amazon.com
GENERAL TAB
Enter information specific to each vendor--such as the vendor’s name, address, 1099
information, and telephone numbers--on the General tab. Fields of interest are described
below:
• Account #: Enter the account number that this vendor has assigned to your company.
This information will be entered automatically in the Memo field on payments.
• Vendor Type: This case-sensitive field can be used to filter records for reporting
purposes. It will keep track of all values used by the system for this field, so you can
select from a drop-down list in addition to simply typing in the value you want.
• 1099 Type: If you will be printing a 1099 form at the end of the calendar year for this
vendor, select one of the available 1099 types.
• Current Balance: If the record has a current balance, the amount will display here. To
see the list of individual invoices that make up the balance, click the balance amount
link.
The Current Balance will not appear until the vendor record is saved.
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4 SETTING UP ACCOUNTS PAYABLE
Adding Vendors
A D D R E SS E S T A B
Use the Addresses tab to keep track of remit to addresses for this vendor. You can also
select addresses to use as defaults for Payments, Purchase Orders, and Shipments.
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4 SETTING UP ACCOUNTS PAYABLE
Adding Vendors
• Purchase Rep: Select an employee who is the purchasing representative for this
vendor.
• Tax ID #: Enter your vendor’s tax number if you plan to send a 1099-MISC or 1099-
INT form.
• Terms: The current terms settings appear here. Click the arrow button to change the
terms. To override the default terms, select Customize terms for this vendor from the
drop-down list. Then, change the settings as needed.
• Form Options: Use this box to select whether or not the vendor will automatically be
sent a paper form or an e-mail when creating a Purchase Order. You can also have
Peachtree automatically send a copy to the Purchase Rep.
• Replace Item ID with: You can specify if you want inventory Item IDs printing on
forms or whether or not you want to replace the Item ID with either the UPC/SKU or
Part Number for this vendor.
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4 SETTING UP ACCOUNTS PAYABLE
Adding Vendors
Calvert Copyright
Name Levit Utility Computers R Us
Services
Expense
78000 60000 50000
Acct
Telephone
404-766-8876 770-555-5827 404-555-5264
1
16 Using these steps as a guide, add the remaining vendors. Remember to click
Save to add each vendor and New to add the next vendor:
National Bank of
Name Peachtree Leasing Ocean Breeze Outlet
Atlanta
Expense
62000 74000 12000
Acct
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4 SETTING UP ACCOUNTS PAYABLE
Entering Vendor Beginning Balances
• Invoice Number: Enter the number that identifies the outstanding invoice.
• Purchase Order Number: If a purchase order is related to the invoice, enter the
number in this field.
• Amount: Enter the dollar amount of the invoice.
• A/P Account: Enter the account that this invoice’s value is tracked in. If your company
uses the cash-basis accounting method, this field will not be available.
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Entering Vendor Beginning Balances
5 Click Save, then select the Vendor Balances tab to choose another vendor that
has beginning balance invoices.
6 Choose Computers R Us by double-clicking. The Purchases from tab appears
for Computers R Us.
7 Enter the following outstanding invoice for Computers R Us. There is no
Purchase Order associated with this invoice, so that field will remain blank:
8 Click Save, and then click Close on the window when you are finished.
9 To see the Aged Payables report, select Reports from the toolbar on the
Maintain Vendors window.
10 Select Aged Payables. Notice that the vendor bills are aged by invoice date, as
of the end of February 2008.
11 Click Close on each window when you are finished.
I nv en to r y
General
L ed ger
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5 SETTING UP INVENTORY
Entering Inventory Defaults
ORDERING TAB
Quantity Available
• Include purchase orders when calculating the quantity available: Select this check
box to include items on purchase orders when calculating quantity available.
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Entering Inventory Defaults
GL ACCTS/COSTING TAB
On the GL Accts/Costing tab you specify several GL accounts for various types of
inventory items. The default freight account is also selected on this window. You can
change information for individual items when they are added through Maintain
Inventory Items. Each field on this tab is described below:
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5 SETTING UP INVENTORY
Entering Inventory Defaults
• GL Invtry/Wage: Enter the inventory account to be debited for the purchase cost when
you purchase stock items or build assembly items. This account will be credited for the
compound cost when the item is sold.
For non-stock, service and labor items, enter the salary or wage expense account or
other expense account to be debited when the item is purchased. This account will be
credited for the expenses when the item is sold. The sale of non-stock, service, and
labor items will then reclassify the expense associated with the item from the original
GL Salary/Wage or other expense account to the GL Cost of Sales account.
• GL Cost Sales: Enter the cost of goods sold account that will be debited for the cost
when the item is sold.
• Costing: Enter the costing method for stock and assembly items. Peachtree tracks the
cost of goods sold based on the costing method chosen for stock and assembly items
only.
GL FREIGHT ACCOUNT
Enter the account to which customer freight charges will be posted.
T A XE S / S H I PP I N G T A B
On the Taxes/Shipping tab, define whether your tax types are taxable or tax exempt. In
the Ship Methods list, enter the different shipping methods that you will select from
when you enter transactions for your customers and vendors.
P R I C E L E V EL S T A B
On the Price Levels tab you may set up price levels according to your needs. Price levels
provide a way for you to charge different prices to different customers. For instance, you
can assign a price level to each customer to ensure accurate pricing. There are ten price
levels that can be set up with any description you need. For Price level 1, you can choose
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5 SETTING UP INVENTORY
Entering Inventory Defaults
to have the program calculate the price based on the last cost recorded. In addition, for
Price Levels 2 through 10, you can base the calculation on Price Level 1.
Level Name: Enter a description of up to 14 characters that describes the pricing; for
example, Distributor, Warehouse, Retail.
Default Calculation: The text shown in this box is the result of what has been chosen in
the Edit option.
Edit: Click the Edit button to open the Default Price Level Calculation window. Here,
you can set up the options for calculating sales prices.
- Use: The options found in this field will differ based on which Price Level you are
editing.
- Price Level 1: Not available when calculating Price Level 1, this option can be
chosen for Price Level 2 through Price Level 10. Use it when you want to base
the calculation on the price used for Price Level 1.
- Last Cost: Used for any level, choose this option to base the calculation on the last
cost for the item.
- No Calculation: Select this option if you prefer to enter a specific price rather than
use a calculation. When chosen, the next three fields become unavailable for use.
- And: Select to increase or decrease the amount by either a percent or an amount.
Then, indicate the amount or percent in the following field.
- Round Price: You have three options for rounding the sales price.
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Entering Inventory Defaults
Click the magnifying glass in this field. Locate the toolbar at the bottom of the
lookup window, and click New.
6 This opens the Maintain Chart of Accounts window on which you can add the
new accounts. Add the following accounts. Remember to click Save & New
after adding each account:
8 After saving the changes, click Close. You will return to the Inventory Item
Defaults window on which you can continue.
GL GL GL
Sales/ Invtry/ Cost
Item Class Inc. Wage Sales Costing
Description only
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5 SETTING UP INVENTORY
Entering Inventory Defaults
18 Select Last Cost, Increase by Percent, and Specific Cent from the drop-down
lists.
19 Enter 50.00 in the % field and 0.99 in the Round Price field. Click OK.
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Adding Inventory Items
HEADER FIELDS
• Item ID: Identifies the inventory item in lookup lists, transactions, and reports. Once
an ID is saved, you can click Change ID to make changes.
• Description: Enter a brief description of the item. This description appears in the Item
lookup list on transaction windows.
• Item Class: Select an item class from the drop-down list. Every inventory item will fall
under one of the classes defined earlier in the chapter.
Different fields will appear for each inventory class. Once an item has been saved, the
Item Class field cannot be changed.
GENERAL TAB
Information specific to each inventory item is entered on the General tab. Depending on
the item class of the inventory item, some fields may not be available on the General tab.
Beginning balances are also entered and maintained on the General tab. Fields of interest
are described below:
• Description for Sales/for Purchases: Enter two descriptions per item, one for sales
and another for purchases. The sales description for this item will appear when you
enter quotes, sales orders and invoices. The purchase description for an item appears
when purchase orders and purchases are entered.
• Price: Enter the sales price for the inventory item. To enter additional price levels,
click the arrow button to open the Multiple Price Levels window. These price levels
will correspond with those assigned to your customers.
• Last Unit Cost: For stock and assembly items, enter the last purchase price paid for
the item. Once a beginning balance or transaction is entered using this item, this field is
updated by Peachtree. For non-stock, service, and labor items, enter the Cost of Sales
amount that should be posted when the item is sold.
• Cost Method: Select one of the three available costing methods from this drop-down
list. Choices include FIFO, LIFO, and Average. The cost method cannot be changed
after the inventory item has been saved. This field will show only for stock and
assembly inventory items.
- Average Cost: When an item using Average Costing is sold, Peachtree uses the
average cost of the item to calculate the cost of goods sold. The cost of goods sold
amount is the average cost multiplied by the quantity of the item sold.
- FIFO: Using the First In First Out method, inventory is valued with the assumption
that items are sold in the order in which they are received. The oldest cost of an item
is the first cost to be used to calculate the value of the item.
If a field label is dimmed, then the field is not available, and you cannot enter information
in the field. To make the field available, return to the Custom Fields tab in Inventory
Item Defaults and select the Enabled check box for that field label.
H I S T O RY T A B
Select the History tab to view the inventory item history information. Changes cannot be
made on this window. This window displays the period history date and for that date the
number of units sold, dollar sales, number of units received, and total costs for the
selected item.
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Adding Inventory Items
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5 SETTING UP INVENTORY
Adding Inventory Items
Item ID bsurf1
Personal 33.29
Commercial 27.74
If the Last Unit Cost field is left zero, only the sales account will be affected when the item
is sold.
14 Since this is a non-taxable service, select an Item Tax Type of 2.
15 Enter Hour in the Stocking U/M field.
16 Click Save; then click New.
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5 SETTING UP INVENTORY
Adding Inventory Items
17 Using these steps as a guide, enter the remaining service items. Remember to
click Save to add each item and New to add the next item:
18 Click Close when you are finished.
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Entering Inventory Beginning Balances
A cco un ts
A cco u nts Paya ble
Rece iva ble
E xp en se Ti me
Ti ck ets Tick ets
I nv en to r y
J ob C ost
J ou rna ls
General
L edg er
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6 SETTING UP ACCOUNTS RECEIVABLE
Entering Customer Defaults
A C C O U N T AG I N G T A B
Select the Account Aging tab to access aging information. The information in these fields
is used to age sales invoices.
F I N AN C E C H A R G E S T A B
Select the Finance Charges tab to enter customer finance charge information. You can
set up default parameters for all customers and elect not to calculate charges for individual
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6 SETTING UP ACCOUNTS RECEIVABLE
Entering Customer Defaults
customers. Finance charges are calculated by multiplying the number of days past due by
the daily finance charge rate, then by the outstanding invoice amount. Fields of interest
are described below:
• On invoices: Enter the number of days beyond the invoice date or due date that an
invoice needs to be before finance charges are applied. A finance charge calculates
from the first day the invoice is overdue, but the charges are not applied until the grace
period expires.
• days overdue, up to: $: Enter the amount that divides different annual interest rates.
• Assign Deposit Ticket IDs: Choose one of these radio buttons to indicate how you
would like to track deposit tickets.
- In Receipts: Select this button to assign the IDs for your deposits as you enter
receipts from customers or vendors. Peachtree will automatically enter the current
system date in the Deposit Ticket ID field in Receipts.
- In Select for Deposit: Choose this button to assign the IDs for deposits when
running the Select for Deposit process. If you select this option, Peachtree will leave
the Deposit Ticket ID field in Receipts blank.
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6 SETTING UP ACCOUNTS RECEIVABLE
Entering Customer Defaults
5 Select the Custom Fields tab and enter Monthly Service? for Field Label 1.
6 Clear the Enabled check box for Field Labels 3 and 4.
7 Select the Finance Charges tab.
8 Select the Charge finance charges check box. Then, enter the following
finance charge information in the appropriate fields:
On invoices 15
1 Cash
2 Check
3 AMEX
4 Discover
5 Mastercard
6 Visa
Using the Sales Tax Wizard, you will create your sales tax agencies and sales taxes. Sales
tax agencies are the tax rates for individual governmental agencies. A sales tax is a group
of one or more sales tax agencies. When you enter an invoice for a customer, the sales tax
is used to calculate sales tax. The Taxable/Exempt Sales report shows taxes collected per
agency.
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6 SETTING UP ACCOUNTS RECEIVABLE
Setting Up Sales Taxes
• What is the total rate that you will charge?: Enter the total of the tax rate. If this tax
rate is made up of, for instance a state tax of 4% and a county tax of 2%, enter 6 here. If
the rate is based, in whole or in part, on a formula, leave this field blank.
• How many individual rates make up this total rate?: Enter here the number of
agencies that will make up this tax rate. If this tax rate is made up of, for instance, a
state tax and a county tax, enter 2 here.
To select an existing sales tax agency for a new tax, simply click the arrow next to the
Sales tax agency ID field and select the existing agency from the list.
• How are taxes collected for this agency?: Select by single rate if the tax is a flat
percentage. Select by formula if the rate is based on a formula. If you select by
formula, Peachtree will provide additional fields for you to enter the formula
information.
• Which amount should be used to calculate sales taxes?: This field will appear if you
selected by Formula. Select total taxable sales if the rate is based on the total of all
taxable sales on the invoice. Select each taxable line item if the rate is based on a limit
for each line item in the invoice.
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6 SETTING UP ACCOUNTS RECEIVABLE
Setting Up Sales Taxes
Description that will be available on customer records and sales transactions. When you
are done, click Finish to save the new sales tax.
Agency #1 Agency #3
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6 SETTING UP ACCOUNTS RECEIVABLE
Setting Up Sales Taxes
19 Use the table below to set up a sales tax for Fulton county. Note that you can
select existing agencies using the drop-down on the Sales tax agency ID field.
20 To select from a list of sales tax agencies, right-click the first line in the ID
column.
Rate 1.00
21 Click Finish.
22 Then select Close the sales tax wizard, and then Finish.
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6 SETTING UP ACCOUNTS RECEIVABLE
Adding Customers
HEADER FIELDS
• Customer ID: Identifies the customer in lookup lists, transactions, and reports. Once
an ID is saved, you can click Change ID to make changes.
• Name: Enter the name of the company or individual that will print on invoices,
customer statements, and reports.
• Prospect: Select this check box if this is a prospective customer. Prospects become
regular customers when this box is cleared manually or when transactions are entered
for them.
GENERAL TAB
The General tab is used to add, edit and view information about your customers. Fields of
interest are described below:
• Billing Address: Enter the address where bills will be sent in the Bill to Address field.
• Sales Tax: Select the tax that will be used for calculating sales tax on items sold to this
customer.
• Customer Type: This field can be used to filter records for reporting purposes.
A D D R E SS E S T A B
You can use the Addresses tab to keep track of shipping addresses for each customer. You
can have a separate sales tax for each shipping address.
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Adding Customers
• Pricing Level: Select the inventory pricing level for this customer from this drop-down
list. If necessary, the pricing level can be changed at the time of a sales transaction.
• Form Options: Use this box to select whether or not the customer will automatically
be sent a paper form or an e-mail when sending a quote, sales order, or invoice. You
can also have Peachtree automatically send a copy to the Sales Rep.
For Peachtree to automatically forward the form to sales reps, they must have their e-mail
addresses entered on the General tab of their Employee/Sales Rep records.
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6 SETTING UP ACCOUNTS RECEIVABLE
Adding Customers
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6 SETTING UP ACCOUNTS RECEIVABLE
Entering Customer Beginning Balances
• Invoice Number: Enter the number that identifies the outstanding invoice.
• Amount: Enter the outstanding, unpaid amount of the invoice.
• A/R Account: Enter the account to which this invoice’s value was posted. If your
company uses the cash basis accounting method, this field will not be available.
This field is included here so that Peachtree knows which account to decrease when
Receipts are entered. The beginning balance amounts are not posted to the General
Ledger.
5 Click Save, and then click Close when you are finished.
6 To see the Aged Receivables report, click Reports on the toolbar on the
Maintain Customers window.
7 Select Aged Receivables.
8 Click Close on each window when you are finished.
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6 SETTING UP ACCOUNTS RECEIVABLE
Entering Statement and Invoice Defaults
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6 SETTING UP ACCOUNTS RECEIVABLE
Entering Statement and Invoice Defaults
You can enter one message for each category listed. If a customer has multiple overdue
invoices, Peachtree prints the dunning message that corresponds to the oldest overdue
invoice.
Jou r n al s
Acc ounts
Rece iv able
General
L edg er
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7 SETTING UP PAYROLL
Setting Up Payroll
SETTING UP PAYROLL
........................................
The first step in setting up payroll is to use the
Payroll Setup Wizard to establish employee
defaults. To start the Payroll Setup Wizard, select
Default Information, Payroll Setup Wizard from
the Maintain menu.
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7 SETTING UP PAYROLL
Setting Up Payroll
The Payroll Options window will give you the opportunity to select a payroll system for
your company. With Full Service Payroll, Sage Software handles the payroll for your
employees. With Do It Yourself In-House, you handle your payroll yourself. To continue
the Payroll Setup Wizard, select the option and click Next.
If you have purchased and registered the tax service, you will not see this window.
This window gives you the option to select to use the Tax Update Service or maintain
your tax tables yourself. If you plan to bypass the Peachtree-Maintained tax tables and
enter all of your tax information in the User Maintained tax tables, select Do it yourself.
If you have purchased and registered the tax service, you will not see this window.
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Setting Up Payroll
This window allows you to learn about and purchase other payroll options, such as direct
deposit or E-filing.
Use this window to enter information about your company that will be needed to run
payroll. This includes your Federal Employer ID, State Employer ID, State, State
Unemployment Rate, and any local taxes.
If you completed the federal and state employer number fields while creating your
company, you will not need to fill those fields here.
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Setting Up Payroll
PAY TYPES
Use this window to enter the different types of pay that employees receive. You have
separate boxes for hourly and salary type workers. Enter the Pay Type and the Expense
account that you want for the different types of pay.
Select which benefits listed apply to your company. Depending on the options you select,
Peachtree will lead you through several other windows on which you will enter
information specific to that benefit.
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Setting Up Payroll
SET UP TAXES
Use this window to specify the accounts that payroll taxes will go to when you cut checks
for employees. You can use the drop-down to display a list of accounts that you can
choose.
9 Click Next.
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Setting Up Payroll
10 On the Vacation window, enter the information in the window below. Click
Next when you are done.
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7 SETTING UP PAYROLL
Entering Employee Defaults
GENERAL TAB
The General tab contains the locality information about your company’s payroll, as well
as custom field headings. Fields of interest are described below:
E M P L O Y EE F I EL D S T A B
Select the Employee Fields tab to define the deductions, additions, and exceptions that
affect employee pay checks. These payroll fields are displayed by default for each
employee in the Maintain Employees/Sales Reps window. If necessary, the field setup
can be customized for each employee. Fields of interest are described below:
• Field Name: Enter the name of the payroll field to be set up. The name you create can
apply to a deduction, miscellaneous income or an accrual, such as vacation time. This
description prints on the Payroll Entry window, payroll check stubs, and payroll
reports.
• Calc: Select this check box to automatically calculate the payroll field amount. If the
check box is cleared, a dollar amount may be entered in the Amount field.
• Tax Name: If the Calc check box is selected, you must select a tax table calculation
name from this field.
State calculation names are set up with wildcard characters. This means that asterisks
(**) represent the two-letter state abbreviation. When a payroll check is created for an
employee, the asterisks are automatically replaced with the state abbreviation assigned to
the State/Locality field on the employee’s record.
• Amount: Enter a standard deduction or earnings amount in this field if the amount will
remain the same each pay period for most employees. To enter an amount in this field,
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Entering Employee Defaults
clear the Calc check box. Enter positive numbers for earnings and negative numbers
for deductions.
• Memo: Select this check box if you want to track an amount without affecting the net
check amount. For example, restaurant tips that an employee receives from customers
do not normally affect your company books or the amount paid to the employee, but
must be included as taxable income. Also, all non-dollar fields, such as vacation hours,
should be marked as memo fields.
• Run: Select this check box if you want to keep a running total of this field after the
payroll year is closed. For example, you would not want to clear an employee advance
at year end. If this check box is cleared, the payroll field total will reset to zero at the
end of the payroll year.
• Adjust: Click this arrow button to display the Calculate Adjusted Gross window. On
this window, select the Use check box for fields that should be added to or subtracted
from gross prior to calculating the tax.
• Field Name: Enter the name of the Payroll field, or use the default selection provided.
• Liability: Enter the General Ledger employer liability account that will be credited
when a payroll check is posted.
• Expense: Enter the General Ledger employer expense account that will be debited
when a payroll check is posted.
• Calc: Select this check box to automatically calculate the payroll field amount.
• Tax Name: If the Calc check box is selected, you must select a tax table calculation
name from this field.
• Adjust: Click this arrow button to display the Calculate Adjusted Gross window. On
this window, select the Use check box for fields that should be added to or subtracted
from gross prior to calculating the tax.
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7 SETTING UP PAYROLL
Entering Employee Defaults
3 The social security and medicare withholding accounts have not yet been set up
in the chart of accounts. Find the G/L Account field for the Soc_Sec. Click the
lookup magnifying glass in this field.
4 Locate the toolbar at the bottom of the lookup window and click the New button
that appears there.
5 This opens the Maintain Chart of Accounts window on which you can add the
new accounts.
6 Add the following accounts:
7 After saving the new accounts, click Close. You will return to the Employee
Defaults window.
8 Enter the following General Ledger account numbers for the field names listed:
Soc_Sec 23101
Medicare 23201
St_Income 23600
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7 SETTING UP PAYROLL
Adding Employees
ADDING EMPLOYEES
........................................
After completing the Payroll Setup Wizard and entering your
employee default information, the next step is to enter each
employee. As you add employees, you can use the default
information entered or change the information for specific
employees. To access the Maintain Employees/Sales Reps window,
select Maintain, Employees/Sales Reps from the menu bar.
GENERAL TAB
The General tab appears when you open the Maintain Employees/Sales Reps window.
Basic information about each employee is entered on this tab. Fields of interest are
described below:
• Type: This case-sensitive field can be used to filter records for reporting purposes.
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7 SETTING UP PAYROLL
Adding Employees
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7 SETTING UP PAYROLL
Adding Employees
E M P L O Y EE F I EL D S T A B
Select the Employee Fields tab to enter deduction information specific to an individual
employee. Depending on the payroll fields you are using, you might have employees
whose payroll deductions differ from the company-wide deductions that were established
in the default information. You can enter specific information for those employees using
this tab on the Maintain Employees/Sales Reps window. New payroll field information
• Use Defaults: Clear this check box if you do not want to use the standard payroll field
information for the employee. Then, you can make changes to the fields.
• Calculated: Select this check box to automatically calculate the payroll field. Clear
this check box to enter a flat rate amount in the Amount field.
• Formula: Select the name of the calculation used to calculate the deduction.
An incorrect Formula will cause errors during payroll entry. For this reason, Peachtree
recommends selecting the Tax Name from the lookup list.
• Amount: Enter a deduction or addition amount to apply a specific amount per pay
period. Deductions should be entered as negative amounts and earnings as positive
amounts.
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7 SETTING UP PAYROLL
Adding Employees
C O M P AN Y F I E L D S T A B
Select the Company Fields tab to change default employer company taxes.
• Applicable Rate: Select the pay rate to which you want to apply the raise.
The Applicable Rate drop-down list includes pay rates that have associated general
ledger accounts and pay rates that have previously been used in the Raise History table.
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7 SETTING UP PAYROLL
Adding Employees
14 Next you need to enter the Withholding Information for this employee. Enter
the following Withholding Information:
401k% 5.00
15 Click Save & New to add the employee and clear the fields.
16 Select the General tab to add the next employee.
Federal Allowances 2 1 0
State Allowances 0 0 0
State/Locality GA GA GA
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7 SETTING UP PAYROLL
Entering Employee Beginning Balances
Gross 3000.00
Fed_Income -320.76
Soc_Sec -186.00
Medicare -43.50
St_Income -124.70
K401 -150.00
6 Use the following table to enter beginning balances for the remainder of the
employees. Remember to click Save after entering data for each employee. The
Net Check amount is given for reference.
7 Enter the following balances:
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7 SETTING UP PAYROLL
Entering Employee Beginning Balances
8 Click Close.
9 Click New.
10 To see the Current Earnings report, select Reports on the toolbar on the
Maintain Employees/Sales Reps window.
11 Select Current Earnings Report.
12 Click Close on each window when you are finished.
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8 LISTS
Viewing a List
VIEWING A LIST
........................................
To view a list, select List from the menu bar, then select the particular
list you want to see.
On the left side of the List window, Peachtree displays tasks and reports associated with
the particular list currently displayed. Click one of the links to open that window and
perform the task or view the report.
In the main frame, you see the list of records or transactions.
A D D I N G A N E W R E C O RD O R T R A N S A C T I O N
To add a new record or transaction, click the New button in the toolbar. This will open the
appropriate window on which you can add the new information.
S E A R C HI N G F O R A R E C O R D O R T RA N S A C T I O N
To search for information on a list, enter the information in the Search For field, specify
the field type, and click Search. Peachtree will display all records or transactions with
that information.
PRINTING A LIST
To print a list, simply click the Print button, select the printer, and click OK.
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8 LISTS
Viewing a List
CUSTOMIZING A LIST
You can add or remove fields, change the order of the fields, and change the sort order
and field for sorting. To add or remove a field, click the Settings button. This will open
the Settings window.
To add a field, highlight the field in the Available Columns list and click Add. To
remove a field, highlight the field in the Selected Columns list and click Remove. If you
want to change the order of the fields, use the Move Up and Move Down buttons. Click
OK when you are finished.
To change the sort order, click the field label in the column that you want to sort by.
Peachtree will now sort the list by that field in Ascending order, that is, from a to z. If you
want to sort by descending order, click the field label again.
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8 LISTS
Viewing a List
Ge ner al General
Jo urn al En try Jou r n al
Ge ner al Acco un t
L ed ge r Reco nc iliatio n
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9 USING GENERAL LEDGER
Entering General Journal Entries
• Date: Enter the date of the transaction. Any date within either the current period or a
future period can be used.
• Reverse Transaction: Select this check box to make a transaction automatically
reverse the debit and credit amounts on the first day of the next accounting period. For
example, use a reversing entry to record accrued payroll expenses. The accrued
expenses will be recognized when they are incurred, not when they are paid.
• Out of Balance: Displays the difference between the total debits and total credits for
the transaction. This amount must be zero before the transaction can be posted.
8 At this point, the Totals and Out of Balance fields should show 96.42, which is
the total amount entered. To complete the entry, we will credit the Petty Cash
account by 96.42
9 On the fourth line, enter GL Account 10000.
10 In Description, type Petty Cash expenses through 2/12.
11 In the Credit column enter the amount of 96.42.
12 Select Save to complete the entry. Click Close.
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9 USING GENERAL LEDGER
Entering General Journal Entries
10 Click the Recur button on the toolbar. The Create Recurring Journal Entries
window opens.
11 In the Date Range area, select End After: and enter 12 occurrences.
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9 USING GENERAL LEDGER
Entering General Journal Entries
15 The list will refresh and you will see one entry per month for the copier
transaction.
16 Click Close on each window.
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9 USING GENERAL LEDGER
General Ledger Reports
• General Ledger: Shows all transactions in each account for the selected accounting
period(s). Gives vital information about the activity and balance in each General
Ledger account and provides detail for financial statements.
Account ID Date Reference Jrnl Trans Descriptio Debit Amt Credit Amt Balance
Account Descriptio
• General Ledger Trial Balance: Lists the current balance for each account. Also,
provides a historical record of account balances for the selected accounting period(s).
• Transaction Detail Report: Shows you the detail for transactions in the system.
• Working Trial Balance: Lists the General Ledger accounts and their debit or credit
balances. This report serves as a test as to whether the General Ledger is in balance. It
can also be used as a worksheet to make adjustments to account balances.
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9 USING GENERAL LEDGER
Financial Statements
• Income Statement: Shows income and expense activity for the selected accounting
period(s) and the year-to-date total for each account.
Page: 1 of 2
Bellwether Garden Supply
Income Statement
For the Three Months Ending March 31, 2007
• Income/2 Budget-per: Compares the income and expense activity for the current
period to two budgets.
• Income/2 Budget-YTD: Compares the year-to-date income and expense amounts to
two budgets.
• Income/Budget: Compares the income and expense activity for the current period and
the year-to-date amounts to the budget figures.
• Income/Budget-Per: Compares the current period income and expense amounts to
budgeted amounts and actual amounts from last year.
• Income/Budget-YTD: Compares the year-to-date income and expense amounts to
budgeted amounts and actual amounts from last year.
• Income/Earnings: Combines the Income Statement and Statement of Retained
Earnings for the selected accounting period(s) and year-to-date.
• Retained Earnings: Shows changes in the Retained Earnings balance as of the
selected accounting period.
• Statement of Changes: Shows changes in financial position as of the selected
accounting period.
Pu rch ase s/
Pu rch ase s General
R ece ive In ven tory
J ou r n al L edg er
Cre dit Mem o
Vo id Checks
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10 USING ACCOUNTS PAYABLE
Entering Purchase Orders
• Good thru: By default, this date is one month past the purchase order date, but you can
enter a different date.
• PO #: If you plan to print the purchase order, leave this field blank. You will enter it
during the print routine. If this PO was manually written, enter the purchase order
number.
• Close PO: Select this check box to close a purchase order.
A purchase order is automatically closed after all items are received.
• Drop Ship: Select this check box to specify a drop shipment from a vendor directly to
a customer.
- Customer ID: Enter the ID of the customer receiving the drop shipment.
- Bill to Address/Ship to Address: When specifying a drop shipment, select the
address where the drop shipment will be sent.
• Unit Price: By default, this is the last purchase cost for the item. New items that have
not been ordered before and do not have beginning balances use the cost assigned to
them in the Last Unit Cost field on the Maintain Inventory Items window. If necessary,
this price can be changed to a different amount.
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10 USING ACCOUNTS PAYABLE
Entering Purchase Orders
• Job: Enter a job if the transaction line needs to be applied to a job. The amount will not
be applied to the job until the items are received.
Inventory set up as stock items or assemblies cannot be applied to a job on a purchase
order. These items should be applied to a job when the customer is billed for the items or
when an inventory adjustment is entered to remove the items from stock.
Editing Transactions
Posted transactions can be fully edited throughout Peachtree if the following conditions
are true:
• The transaction is posted in one of the currently available accounting periods.
• The transaction is a purchase order or sales order not yet filled.
• The transaction is an invoice with no associated payments.
To edit a transaction, select List from any transaction window. The associated list window
opens, listing the transactions.
You can either select the transaction you need to edit and click Open, or simply double-
click the transaction you need to edit. The transaction opens in the window. Make any
changes necessary; then click Print to reprint the transaction or click Save to save
changes and update the General Ledger.
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10 USING ACCOUNTS PAYABLE
Purchasing and Receiving Inventory/Entering Bills
HEADER FIELDS
• Drop Ship: Select this check box to specify a drop shipment from a vendor directly to
a customer.
- Customer ID: Enter the ID of the customer receiving the drop shipment.
• Waiting on Bill: Select this check box if a shipment of inventory is received without a
vendor invoice. This allows the receipt to be recorded and inventory to be updated. The
invoice is not available for payment until the transaction is edited by selecting this
check box and saving again.
• Terms: Shows the vendor terms as set up in the vendor record. To change the terms,
click the arrow button to open the Terms Information window. Make any changes and
click OK.
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10 USING ACCOUNTS PAYABLE
Purchasing and Receiving Inventory/Entering Bills
addition, if items were received but not included on the original purchase order, you can
add them here. Fields of interest are described below:
• Unit Price: Shows the last purchase cost for the item selected. New items that have not
been ordered before and do not have beginning balances use the cost assigned to them
in the Last Unit Cost field on the Maintain Inventory Items window. If necessary, this
price can be changed to a different amount.
• Job: Enter a job if the transaction line needs to be applied to a job.
Inventory set up as stock items or assemblies cannot be applied to a job on a purchase.
These items should be applied to a job when the customer is billed for the items or when
an inventory adjustment is entered to remove the items from stock.
FOOTER FIELDS
• Amount Paid at Purchase: Enter the payment amount here to make a partial or full
payment to an invoice. Two additional fields appear when an amount is entered in the
Amount Paid field.
- Reference: Enter a reference number for the payment transaction in this field. A
reference number must be entered before the transaction can be posted.
- Cash Account: Select the cash account to which the payment amount will be
posted.
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10 USING ACCOUNTS PAYABLE
Purchasing and Receiving Inventory/Entering Bills
• Apply to Purchase Order No.: Select a purchase order from the drop-down list. All
open purchase orders for the selected vendor are listed.
• Remaining: Displays the number of items that remain outstanding on the purchase
order. This field cannot be changed on this window.
• Received: Enter the quantity of each item received. The purchase order will remain
open until all items are received or until it is manually closed.
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10 USING ACCOUNTS PAYABLE
About Making Payments
Payments Wi ndow
The Payments window can be used to enter cash purchases and disbursements that do not
have associated vendor invoices/bills. It is also used to apply payments to vendor invoices
entered as purchases. When a vendor ID is entered, all unpaid bills for the vendor appear.
You can choose to pay an entire invoice/bill or make partial payments. Credit memos and
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10 USING ACCOUNTS PAYABLE
Entering Payments/Paying Bills
prepayments may also be applied to invoices on this window. Each tab is described
below:
HEADER FIELDS
• Vendor ID/Customer ID: Select to enter a payment for a vendor or customer. Then,
enter the ID for the vendor or customer being paid. To pay a vendor who is not in the
vendor list, leave this field blank and enter the name in the Pay to the Order of field.
Choose Customer ID to issue a refund check to a customer.
• Check Number: If you plan to print the check, leave this field blank. You will enter it
during the print routine. If this check was manually written, enter the check number.
• Memo: By default, the account number entered in the Maintain Vendors window will
fill automatically for vendors set up in Peachtree. If necessary, you can enter a different
memo line for the check.
• Cash Account: Enter the account from which funds are withdrawn when the check is
written. This account number will be the last cash account used for a payment, but can
be changed if necessary.
• Cash Account Balance: Displays the balance of the selected account as of the date of
the check. This amount is updated when checks are posted.
If you see the word “Uncalculated” in the balance field, click the recalc button to the right
to display the balance amount.
A P P L Y T O I NV O I C E S T A B
The Apply to Invoices tab lists all outstanding invoices for the selected vendor. Select
invoices/bills to pay by selecting the Pay check box next to each one. When all invoices
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10 USING ACCOUNTS PAYABLE
Entering Payments/Paying Bills
included on a check are selected, click Print to print the disbursement check immediately,
or click Save to print the check later. Fields of interest are described below:
• Description: Enter a description for each invoice in this field. Text entered in this field
prints on the disbursement check stub. The message “Waiting on Bill From Vendor”
appears in this field when an invoice has a Waiting on Bill status in Purchases/Receive
Inventory.
• Discount: Displays the amount of the discount if the invoice qualifies for a discount. If
necessary, the amount in this field can be changed. A discount amount cannot be
entered for a partially paid invoice.
• Amount Paid: Enter the amount to apply to the invoice. When you enter an amount,
the Pay check box will be checked automatically.
• Pay: Select this check box to pay the invoice in full.
Vendor ID 01copy
Date 02/24/08
11 If you do not want to print the check, click Save, then Close.
12 If you want to print the check, click the Print button. Enter 3286 for the First
Check Number, and click Print. Then click Close.
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10 USING ACCOUNTS PAYABLE
Entering Payments/Paying Bills
A P P L Y T O CU S T O M E R A C C O U N T
If you select a customer ID on the Payments window, the Apply to Customer Account
tab appears. This tab can be used to record customer refunds.
Using the Apply to Customer Account tab in conjunction with the Credit Memo
window in Accounts Receivable allows a customer-issued credit memo and a customer-
issued check to be recorded. The two transactions can be reconciled on the Receipts
window. To enter these transactions, follow these steps:
• Enter the credit memo on the Apply to Sales tab on the Credit Memo window. This
creates a credit to Accounts Receivable and a debit to an income account.
• Record the check on the Apply to Customer Account tab in Payments. This creates a
credit to cash and a debit to Accounts Receivable.
• Reconcile these two transactions in Receipts. Select the Pay check box for both the
credit memo and the payment to create a zero dollar receipt. Enter a unique identifier in
the Reference field.
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10 USING ACCOUNTS PAYABLE
Writing Checks
the Payments window that allows you to quickly enter check information without having
to enter line-item distributions. Fields of interest are described below:
• Check Number: If you plan to print the check, leave this field blank. You will enter it
during the print routine. If this check was manually written, enter the check number.
• Memo: By default, the account number entered in the Maintain Vendors window will
fill automatically for vendors set up in Peachtree. If necessary, you can enter a different
memo line for the check.
• Split: Opens the Split Transaction window on which you can distribute the expense to
multiple accounts. Once you click OK, all fields at the bottom of the Write Checks
window will be unavailable. To change the transaction distribution, click Split.
• Description: Enter a description of the payment. This description will print on the
check stub.
E N T E R I N G A M AN U A L C H E C K
A manual check is a check that was handwritten or previously printed and not entered into
Peachtree. To enter a handwritten check, select Payments from the Tasks menu.
A manual check is recorded like a normal payment, with one difference. The check
number is entered in the Check Number field. If a number is not entered in this field,
Peachtree will print a check for this transaction during the next check-printing cycle.
If cash was used to pay for an item, enter a reference number or word in the Check
Number field that identifies the transaction, such as CASH0201. This prevents Peachtree
from printing a check. A reference number can only be used once. When finished, click
Save to complete the task.
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10 USING ACCOUNTS PAYABLE
Writing Checks
P R O C E S SI N G A P R E P A YM E N T O R D E P O S I T
When you pay a vendor a prepayment or deposit amount, this amount can be applied to
future invoices. To enter a prepayment, select Payments from the Tasks menu. Select a
vendor from the Vendor ID lookup list, and select the Apply to Expenses tab. Select the
Prepayment check box.
The available fields include Description, GL Account, and Amount. Enter a description
of the prepayment in the Description field. Then, select a General Ledger account from
the GL Account lookup list. Finally, enter the amount of the prepayment in the Amount
fields.
To apply a prepayment to a vendor invoice, select Payments from the Tasks menu. When
a vendor with a prepayment is selected from the Vendor ID lookup list, the Apply to
Invoices tab appears. Prepayments are displayed with a minus sign preceding the dollar
amount in the Amount Due column.
If you need to apply the prepayment to the vendor invoices, change the values in the
Amount Paid column as needed so that the payment total is zero. If the prepayment
amount is larger than the invoices due, apply only a portion of the prepayment. This will
leave a partial prepayment amount available for future invoices.
If you need to pay the vendor and apply the prepayment to vendor invoices, change the
values in the Amount Paid column as needed so that the payment total matches your
desired check amount.
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10 USING ACCOUNTS PAYABLE
Accounts Payable Reports
• Cash Disbursements Journal: Lists cash payments with related General Ledger
distributions for a selected date range. This report is useful for verifying General
Ledger postings and tracking cash payments.
• Cash Requirements: Lists outstanding invoices with invoice dates, due dates, and
possible discount amounts if paid within the discount period. This report is useful in
forecasting cash payments for a given period of time.
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10 USING ACCOUNTS PAYABLE
Accounts Payable Reports
I nv e nt o r y Inve nto ry
Adjustments Adjus t ments
Jou r n al
Ge ner al
Led ge r
Asse mblies
B ui ld / U nb ui l d Adjustment
Asse mblies Jo urn al
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11 USING INVENTORY
Entering Inventory Adjustments
• GL Source Acct: Inventory adjustments affect the inventory account and the account
entered in this field. When a negative adjustment is made to inventory, the General
Ledger inventory account is credited and this account is debited. When a positive
adjustment is made to inventory, the General Ledger inventory account is debited and
this account is credited.
• Unit Cost: Enter the cost of the item if the adjustment is increasing the quantity on
hand.
You cannot enter a value in this field if your inventory adjustment is negative. When you
enter a negative adjustment to decrease the quantity on hand of an item, the program
calculates the cost based on the chosen costing method.
• Adjust Quantity By: Enter a positive number to increase the quantity on hand. Enter a
negative number to decrease the quantity on hand.
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11 USING INVENTORY
Entering Inventory Adjustments
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11 USING INVENTORY
Inventory Reports
Item ID Units Sold Sales($) Cost($) Gross Profit($) Gross Profit(% % of Total
Item Description
AVRY-10050
Prefabricated Birdhouse
AVRY-10050-LG-PYR
Prefabricated Birdhouse
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11 USING INVENTORY
Inventory Reports
Quot es
Apply
F in an ce
Cha rge s R eceip ts C ash Re ceipts
Jo urn al
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12 USING ACCOUNTS RECEIVABLE
Entering Quotes
ENTERING QUOTES
........................................
Customers or prospects often request pricing
information about goods or services that a company
sells. Since they are not receiving any products or
services, they are provided with a quote.
Quotes do not affect the General Ledger. Quotes can
be converted to sales orders or sales invoices at any
time. To enter a quote, select Quotes/Sales
Orders/Proposals, Quotes from the Tasks menu.
• Good thru: By default, this date is one month past the quote date. If necessary, you can
enter a different date.
• Quote No.: If you plan to print the quote, leave this field blank. You will enter it during
the print routine. If this quote was manually written, enter the quote number.
• Drop Ship: Select this check box if the items on the quote are to be drop-shipped
directly from the vendor to the customer.
• Description: Displays the description for the item selected. You can change the
description or enter a description when entering items not tracked through inventory.
• Unit Price: Displays the sales price of the item selected. If the item ordered is not
tracked through inventory, enter a sales price. If necessary, this price can be changed.
For items tracked through inventory, you can select a different sales price from the
drop-down list.
• Tax: Displays the item tax type for the item selected. If the item ordered is not tracked
through inventory, select an item tax type. If necessary, the item tax type can be
changed.
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12 USING ACCOUNTS RECEIVABLE
Entering Quotes
Customer ID langley
Date 02/08/08
Quote # 301
10 If you do not want to print the quote, click Save, then Close.
11 If you want to print the quote, click the Print button. Enter 301 for the First
quote number, and click OK. The quote will post automatically after it prints.
Then click Close.
Converting a Quote
After a customer accepts a quote, it can be converted to a sales order or an invoice using
these steps:
• Select Quotes/Sales Orders/Proposals, Quotes from the Tasks menu. The Quotes
window opens.
There are various options on the Convert Quote window. Descriptions of these three
options and their associated fields follow:
• Sales/Invoice: Select this option to convert a quote to an invoice. If this option is
selected, you can use the Invoice # field.
- Invoice #: Enter the invoice number--if one exists for this quote and it does not need
to be printed.
• Sales/Invoice and Print Now: Select this option to convert a quote to an invoice and
then print the invoice. You will be given the opportunity to enter the invoice number
prior to printing.
• Sales Order: This option converts a quote to a sales order. When a quote is converted
to a sales order, Peachtree uses the next available sales order. This number is displayed
in the SO # field on the Convert Quotes window and can be changed if necessary.
- SO #: Enter the sales order number--if one exists for this quote and it does not need
to be printed.
• Proposal: Select this option to convert the quote into a proposal, which you can bill in
Sales Invoicing.
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12 USING ACCOUNTS RECEIVABLE
Entering Quotes
2 Click the List button to display the List window, which provides a list of quotes
entered.
3 Select quote 301 and click Open or double-click the quote.
4 To convert the quote, click the Convert button.
5 Select the Sales Order option.
6 Enter SO # 200, and click OK. The quote is now a sales order. Click Close on
each window.
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12 USING ACCOUNTS RECEIVABLE
Entering Sales Orders
• Ship By: Enter a date that the order should be shipped by.
This date cannot be prior to the Order Date.
• SO No.: Displays the sales order number assigned by Peachtree. This number is
increased by one automatically each time a sales order is posted. This number can be
changed, but you cannot post duplicate sales order numbers. This field will be blank for
the first sales order entered.
• Close SO: Select this check box to manually close a sales order. A sales order is
automatically closed after all items are shipped.
• Description: Displays the description for the item selected. You can change the
description or enter a description when ordering items not tracked through inventory.
• Unit Price: Displays the sales price of the item selected. If the item ordered is not
tracked through inventory, enter a sales price. If necessary, this price can be changed.
For items tracked through inventory, you can select a different sales price from the
drop-down list.
• Tax: Displays the item tax type for the item selected. If the item ordered is not tracked
through inventory, select an item tax type. If necessary, the item tax type can be
changed.
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12 USING ACCOUNTS RECEIVABLE
Entering Sales Invoices
Sales/Invoicing Window
The Sales/Invoicing window is used to enter sales to customers. The header area is used
to enter customer-specific information. The Apply to Sales tab is used to record customer
HEADER FIELDS
• Invoice No.: If you plan to print the invoice, leave this field blank. You will enter it
during the print routine. If this invoice was manually written, enter the invoice number.
• Terms: Shows the customer terms as set up in the customer record. To change the
terms, click the arrow button to display the Terms Information window. Make any
changes and click OK.
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Entering Sales Invoices
A P P L Y T O SA L ES T A B
Direct sales to customers are entered on the Apply to Sales tab. Fields of interest are
described below:
• Description: Displays the description for the item selected. You can change the
description or enter a description when ordering items not tracked through inventory.
• GL Account: Displays the account set up for the item selected. When ordering items
not tracked through inventory, the account displayed is the customer’s sales account. If
necessary, enter a different account.
• Unit Price: Displays the sales price of the item selected. If the item ordered is not
tracked through inventory, enter a sales price. If necessary, this price can be changed.
For items tracked through inventory, you can select a different sales price from the
drop-down list.
FOOTER FIELDS
• Apply Tickets/Expenses: Click the arrow button to open the Apply Tickets/Expenses
window on which you can select which time tickets, expense tickets, and reimbursable
expenses should be applied to the invoice.
• Freight: Enter the shipping amount. You can click on this link and Peachtree will open
the Shipments window, automatically filling in appropriate fields with information
from the current Sales invoice.
- Deposit Ticket ID: Enter a reference to group this deposit with other deposits in
Account Reconciliation.
- Reference: Enter a reference number for the receipt in this field. A reference
number must be entered before the transaction can be posted.
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Entering Sales Invoices
A P P L Y T O SA L ES O R D E R # T A B
When a customer with one or more open sales orders is selected, the Apply to Sales
Order # tab appears. Fields of interest are described below:
• Apply to Sales Order #: Select the sales order being filled from the drop-down list.
All open sales orders for the selected customer are listed.
• Remaining: Displays the number of items that remain outstanding on the sales order.
This field cannot be changed on this window.
• Shipped: Enter the quantity that will be shipped to the customer. This is also the
number of items for which the customer will be invoiced.
• Amount: Displays the value of the Shipped quantity times the Unit Price. When
shipping an item not tracked in inventory, enter the total price of the item in this field.
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Entering Receipts/Receive Payments
Receipts Window
The Receipts window is used to enter cash sales and deposits without invoices, as well as
to apply payments to customer invoices. When a Customer ID is entered, all unpaid sales
invoices appear. You can enter payments for the entire amount or partial amounts. Credit
HEADER FIELDS
• Deposit Ticket ID: Enter a reference to group this deposit with other deposits in
Account Reconciliation. Receipts with the same Deposit Ticket ID will be grouped as a
single deposit in Account Reconciliation.
Leave the Deposit Ticket ID field blank if you plan to use Select for Deposit to group your
receipts in Account Reconciliation.
• Customer ID/Vendor ID: Select to enter a receipt for a customer or vendor. Then,
enter the ID for the customer or vendor. To enter a receipt for a customer who is not in
the customer list, leave this field blank and enter the customer name in the Name field.
Choose Vendor ID to deposit a refund received from a vendor.
• Reference: Enter the check number or another reference for tracking this receipt.
• Receipt Number: Enter the number corresponding to the receipt number on your
preprinted form.
• Process Credit Card: Select this button to open a window in which credit card
payment information can be entered. Information entered on the Payment Defaults tab
in the customer file will appear automatically.
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Entering Receipts/Receive Payments
A P P L Y T O RE V E N U ES T A B
Select the Apply to Revenues tab to enter receipts for items that are not associated with
invoices. When a customer without open invoices is selected, this tab automatically
appears. Payments can also be received from customers who are not set up by leaving the
Customer ID field blank and entering the customer’s name in the Name field. Deposits
made in advance are applied to customer records by selecting the Prepayment check box.
Fields of interest are described below:
• Prepayment: Select this check box to enter a deposit from a customer. After a
prepayment has been posted, it can be applied to one or more of the customer’s
outstanding invoices on the Apply to Invoices tab.
• Description: Displays the description for the item selected. You can change the
description or enter a description when ordering items not tracked through inventory.
• GL Account: Displays the account set up for the item selected. When ordering items
not tracked through inventory, the account displayed is the customer’s sales account. If
necessary, enter a different account.
• Unit Price: Displays the sales price of the item selected. If the item ordered is not
tracked through inventory, enter a sales price. If necessary, this price can be changed.
For items tracked through inventory, you can select a different sales price from the
drop-down list.
• Discount: Displays the amount of the discount if the invoice qualifies for a discount. If
necessary, the amount in this field can be changed. A discount amount cannot be
entered for a partially paid invoice.
• Amount Paid: Enter the amount to apply to the invoice. When you enter an amount,
the Pay check box will be selected automatically.
• Pay: Select this check box to pay the invoice in full.
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Entering Receipts/Receive Payments
Using the Apply to Vendor Account tab in conjunction with the Vendor Credit Memo
window allows both the vendor-issued credit memo and the vendor receipt to be recorded.
The two transactions can be reconciled on the Payments window. To enter these
transactions:
• Enter the credit memo on the Apply to Purchases tab in the Vendor Credit Memo
window. This creates a debit to Accounts Payable and a credit to an expense account.
• Record the receipt/refund on the Apply to Vendor Account tab in Receipts. This
creates a debit to cash and a credit to Accounts Payable.
• Reconcile these two transactions in Payments. Select the Pay check box for both the
credit memo and the receipt to create a zero dollar check. Enter a unique identifier in
the Reference field.
When a customer pays a prepayment or deposit amount, this amount can be applied to
future invoices. To enter a prepayment, select Receipts from the Tasks menu. Select a
customer from the Customer ID lookup list and select the Apply to Revenue tab. Select
the Prepayment check box.
The available fields include Description, GL Account, and Amount. Enter a description
of the prepayment in the Description field. Then, select a General Ledger account from
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12 USING ACCOUNTS RECEIVABLE
Entering Receipts/Receive Payments
the GL Account lookup list. Finally, enter the amount of the prepayment in the Amount
field.
To apply a prepayment to a customer invoice, select Receipts from the Tasks menu.
When a customer with a prepayment is selected from the Customer ID lookup list, the
Apply to Invoices tab will appear. Prepayments appear with a minus sign preceding the
dollar amount in the Amount Due column.
Select the Pay check boxes next to the prepayment and the invoices being paid. The
receipt amount will reflect the total of the selected invoices minus the amount of the
prepayment.
If you need to apply the prepayment to the customer invoices, change the values in the
Amount Paid column as needed so that the receipt total is zero. If the prepayment amount
is larger than the invoices due, apply only a portion of the prepayment. This will leave a
partial prepayment amount available for future invoices.
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Accounts Receivable Reports
• Customer List: Lists the name, address, telephone number, and resale number of each
customer. This report can be used as a customer telephone list.
• Customer Management Detail: Use this report to review your receivables.
• Customer Master File List: Shows pertinent customer information. It is useful for
verifying that customers were set up correctly. This information is also useful if you
wish to export Peachtree data for use in other applications.
• Customer Sales History: Shows total sales by customer, including both credit and
cash sales. This report includes transactions entered on the Sales/Invoicing window, as
well as direct sales that are not associated with an invoice.
• Customer Transaction History: Lists invoices by customer and other transactions
associated with that invoice.
• Invoice Register: Chronologically lists all invoices and their amounts for a selected
date range. This report is useful for keeping track of outstanding invoices.
• Items Sold to Customers: Lists quantity, amount, and profit of items sold to
customers. This report is useful in analyzing sales trends and forecasting cash receipts.
• Picklist Report: Once a sales order has been entered in Peachtree, you can use this
report to pull items to fill sales orders.
• Proposal Register: Lists proposals and their status (opened or closed).
• Proposal Report: Lists all open, accepted proposals showing the proposal amount,
previously billed amount and amount remaining to be billed.
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Accounts Receivable Reports
• Prospect List: Shows all prospect names, contacts, and telephone numbers. Can be
used as a sales tool to identify and contact potential customers.
• Quote Register: Identifies open quotes along with their Good Thru date. It can be used
as a sales tool by listing customers with open quotes who need to be contacted.
• Sales Backorder Report: Reflects pending shipments for inventory items on sales
orders and proposals. You can use this report to identify the items that have not been
shipped or items with insufficient quantities on hand.
• Sales Journal: Lists all sales invoices for the selected date range with related General
Ledger distributions. Useful for reconciling sales and for verifying postings.
• Sales Order Journal: Lists all sales orders for the period with related General Ledger
distributions. This report is useful for verifying General Ledger accounts of sales
activities that will be posted once invoiced.
Sales orders do not create actual entries to the General Ledger. Transactions are posted
to the General Ledger once you have invoiced the customer.
• Sales Order Register: A chronological listing of all sales orders and their status. This
report is useful for keeping track of outstanding sales orders.
• Sales Order Report: Identifies the status of each item on an order. It shows quantities
ordered and shipped, and the quantity remaining to be shipped on a specific order.
• Sales Rep Reports: Shows commissioned sales, noncommissioned sales, and total
sales for all sales reps for the time period specified. This report also includes a percent-
of-total column. This column, based on the sales rep's total sales, shows you the
percentage of the company's total sales this rep earned. Useful in identifying sales
productivity by sales rep.
• Sales Taxes: Lists each Sales Tax with all corresponding Sales Tax Agencies, their tax
rate, and payment information. This report can be used to verify additions and changes
to agencies and rates.
• Taxable/Exempt Sales: Provides useful documentation in resolving sales tax report
issues. Use in preparing sales tax reports required by the government before year-end.
Vo id
Che cks
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13 USING PAYROLL
Paying an Employee
PAYING AN EMPLOYEE
........................................
The Payroll Entry window is used to pay individual
employees. It is also used to enter handwritten payroll
checks. To pay an individual employee, select Payroll
Entry from the Tasks menu.
• Check Number: If you plan to print the check, leave this field blank. You will enter it
during the print routine. If this check was manually written, enter the check number.
• Pay Period End: Enter the pay period ending date for this check.
This date controls which time tickets are used for calculating hours for employees with a
pay method of Hourly--Time Ticket Hours.
• Employee/Employer Fields: This section controls Employee and Employer
deductions, additions, and exceptions.
- Amount: Displays the amount assigned to the field or the amount that Peachtree
calculated for the payroll field. The amounts in these fields can be changed, if
necessary.
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Paying an Employee
If you have not registered your Peachtree product or purchased any of Peachtree’s
Payroll Solutions (Peachtree Simple Payroll or Peachtree Select Payroll), you may not be
able to perform this exercise. If you receive a message reminding you to register your tax
service, click OK..
2 When prompted to select a cash account, select Payroll Checking Account and
click OK.
The first time you enter a paycheck, you will be prompted to select a cash account. If you
have already entered a paycheck, the Payroll Entry window appears.
3 Enter bentleyc for the Employee ID. Press ENTER or TAB to move to the next
field. The gross bi-weekly wage amount appears in the Salary Amounts
section, and each payroll field is calculated in the Taxes-Benefits-Liabilities
section.
If your federal and state tax amounts are zero or if you receive multiple messages that a
calculation cannot be found, this indicates that you have not subscribed to Peachtree’s
Payroll Tax Service (Peachtree Simple Payroll or Peachtree Select Payroll). You will not
be able to perform this activity.
4 If you do not want to print the check, enter a Check Number of 1206.
5 If you want to print the check, leave the Check Number field blank.
6 Enter 02/08/08 in the Date field.
7 Ensure the Cash Account selected is 10300.
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Payroll Reports
PAYROLL REPORTS
........................................
Payroll reports provide information about each employee and their
earnings history. To preview or print these reports, select Payroll
from the Reports & Forms menu.
• Current Earnings Report: Lists payroll checks for each employee for the selected
accounting period, normally the current month. Totals are provided for all payroll
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Payroll Reports
make up a paycheck. Useful for verifying General Ledger postings and identifying
incorrect account entries.
• Payroll Register: Chronologically lists paychecks and payroll field information for a
selected date range. This report can be used to check manually entered and printed
paychecks before distributing them to employees.
• Payroll Tax Report: Lists gross wage, taxable gross, and excess gross amounts for
each employee for the selected tax. This report is useful for determining the amount of
tax owed each quarter.
• Quarterly Earnings Report: Lists payroll checks for each employee for the selected
quarter. Totals are provided for all payroll fields and net pay. This report is useful for
verifying deduction and addition amounts on paychecks.
• Tax Liability Report: Lists gross wages, taxable gross wages, taxes withheld, and
liability amounts for each employee and each tax. This report can be used when
completing tax forms.
• Vacation and Sick Time Report: Lists vacation and sick time that is accrued and
used, as well as each employee’s balance.
• Yearly Earnings Report: Lists payroll checks for each employee for the selected year.
Totals are provided for all payroll fields and net pay. This report is useful for verifying
deduction and addition amounts on paychecks.
• Change a Record ID
• Void Transactions
• Find Transactions
• Account Reconciliation
• Backup and Restore
• Business Dashboard
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Change a Record ID
CHANGE A RECORD ID
........................................
You can modify IDs for GL accounts, customers, vendors, inventory items, employees,
jobs, phases, and cost codes, if you want to change the way you identify these data
records. When you change an ID, all data records, historic transactions, and new
transactions associated with the changed record will reflect the new ID.
• The Change ID button is located on the toolbar found on the Maintain Chart of
Accounts, Maintain Customers, Maintain Vendors, Maintain Inventory Items,
Maintain Employees/Sales Reps, Maintain Jobs, Maintain Phases, and Maintain
Cost Codes windows. Select a record in the maintenance window and click this button
to open the Change ID window.
Change ID Window
The Current ID for the selected record appears in the top field. Enter the New ID for the
selected record in the bottom field and click OK to accept the change.
• Fast Add: Adds the record automatically, using the default settings.
Fast add is available for adding customers but is not available for vendors, inventory
items, employees, general ledger accounts, or jobs.
• Set Up: Opens the appropriate maintenance window to allow you to manually add and
save the record.
Set Up is available for adding customers, vendors, inventory items, employees, general
ledger accounts, or jobs.
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Adding Records on the Fly
Voiding Checks
Checks can be voided by selecting Tasks, Void Checks or by selecting the Void button on
the toolbar. The Void Existing Checks window is used to void each check.
• Account ID: Enter or select the account used by the check you want to void. Only
checks using the account will display in the list of checks.
• Void Date: Enter the date the check should be voided. This is also the date the void will
post to the General Ledger.
• Number - Date - Source - Amount - Payee: Lists information for each check. The
Source displays AP for Accounts Payable checks and PR for Payroll checks. Click any
column heading to sort by that column.
Click a transaction you want to void; then click Void. A message appears, asking if you
are sure you want to void the transaction. Click Yes to void the transaction or No to return
to the Void Existing Checks window.
When a check is voided, the check is removed from the list of checks that can be voided.
A new transaction is created with a check number consisting of the original check number
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Void Transactions
followed by the letter V. This new transaction reverses the entries made to the General
Ledger by the original check. For example, if check 4020 is voided, a new transaction
with a check number 4020V is created.
Both the original check and void entry appear on reports and on the Account
Reconciliation window. Both transactions need to be cleared on the Account
Reconciliation window when you reconcile the bank statement.
Voiding a check results in the reinstatement of any invoices paid by the check. If the
invoices will never be paid, you must create a credit memo for the invoices and apply the
invoices to the credit memo.
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Account Reconciliation
be added to the General Ledger while you are reconciling the account using either the
Adjust button or the fields on the main window.
You can import an electronic statement from your bank. See the online Help for more
detail. Fields of interest on the Account Reconciliation window are described below:
• Statement Date: Enter the date the bank statement was printed. This date is used for
reference only.
• Status: Select this check box to indicate the transaction listed also appears on your
bank statement. Cleared transactions will be removed from the list after you change to
the next accounting period.
• Interest Income: Enter a single interest income amount, date, and General Ledger
Account. To enter multiple amounts, select the Adjust button.
• Service Charges: Enter a single service charge amount, date, and General Ledger
Account. To enter multiple charges, select the Adjust button.
• Statement Ending Balance: Enter the ending balance of the account as shown on your
bank statement.
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Account Reconciliation
3284
3285
3286
5 Also clear the Copier Withdrawal dated Feb. 15, 2008.
6 Clear all deposits listed.
7 To enter the bank charge, enter 25.00 in the Service charges field.
8 Enter 02/29/08 in the Date field. Enter 62000 in the Account field.
9 The unreconciled difference should be zero. Click OK to save.
Maki ng a Backup
Backing up creates one file that includes all company
information and customized forms present at the time the
backup was made. To make a backup of your company, select
File, Back Up or Backup from the Company navigation aid.
After you select Backup, the Backup Company window opens, offering a few options:
• Select the reminder check box if you want to be prompted to back up in a specified
number of days. If the specified number of days has elapsed since your last backup was
made, a reminder message will appear when you close the company or exit Peachtree.
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Backup and Restore
• Select the include check box if you want your company name to be part of the backup
file name. The letters BU plus today’s date will be the default file name if you do not
check this box. If you do select this check box, the file will include your company
name as well as today’s date.
Click Back Up to continue, Close to exit the window, or Help for information about
creating a backup.
After you click Back Up, the Save Backup window opens. Select the drive letter and
path where you want to save the backup. The file name listed can be used, or you can
enter your own name. Click Save to create the backup, Cancel to exit the window, or
Help for information on saving a backup.
After you click Save, a message appears, indicating the amount of space the backup file
will require. Click OK to continue or Cancel to exit to Peachtree’s desktop.
After you click OK, a progress window opens showing the files being backed up and the
percent complete. The file will contain all company information and customized forms
present at the time the backup was made.
The backup process will compress the company information to conserve space and will
create a single file with an extension of PTB. If the file is too large for a single disk, more
disks will be needed. In this case, you will be prompted to enter a new disk each time a
disk is full. Label each disk to indicate the sequence of the disks.
After you select Restore, the Restore Wizard - Select Backup File window opens.
Click Browse to open the Open Backup File window. Specify the drive letter and path
where the backup file is located. Then, click the backup file name. Click Open to
continue, Cancel to exit the window, or Help for information about restoring a backup.
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Backup and Restore
Next, on the Restore Wizard - Select Backup File window, click Next. This will open
the Restore Wizard - Select Company window.
quickly performing tasks in Peachtree, such as entering payments, searching for and
viewing reports, and navigating throughout the program. Use the menu on the left to
select a particular page. Each page will give you information regarding that part of your
company. Most pages give you a flow diagram for that process, with each icon being a
clickable link to that process. For instance, displayed below is the Banking flow chart. It
shows you the entire process within Peachtree of processing bank related transactions. To
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Business Status Center
Receive Money, simply click the associated icon and Peachtree will open that transaction
window.
The Toolbar
From the toolbar, you can change your accounting period, change the current Peachtree
system date, print the displayed page (for some pages), refresh information, hide
information, and set the currently displayed page as the default.
addition. you can change the order in which they appear. You can use these shortcuts to
provide quick access to those areas of Peachtree that you use most often.
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Business Status Center
I NDEX
......................
B adding customers 95
customer beginning balances 101
defaults 84
overview 83
overview of tasks 189
reports 212
Numerics adding to a list 140
adjustments
401k 112 entering for inventory 182
940-EZ 222 assemblies
Adjustment Journal 185
A
account aging B
customer 85 backup 233
vendors 47 Balance Sheet 153
account register 233 beginning balances
accounting methods chart of accounts 32
choosing 12 customer 101
accounting periods employee 136
custom 16 inventory 81
monthly 15 vendor 58
setup 14 budget
accounts account 37
adding 25
beginning balances 32 C
budgets 37
deleting 25 Cash Disbursements Journal 178
modifying 25 Cash Receipts Journal 212
numbering 26 changing
out-of-balance 33 ID 224
reconciling 229 chart of accounts
types 26, 27 beginning balances 32
accounts payable budgets 37
adding vendors 50 copying 8
defaults 46 modifying 25
overview 45 numbering 26
overview of tasks 155 out-of-balance 33
paying invoices 169 report 151
payments 166 sample 8
reports 178 selecting 7
vendor beginning balances 58 checks
accounts receivable customer 172
241
..... INDEX
G taxable 66
General Journal Inventory Adjustment Journal 186
entries 146 invoices
recurring entries 148 applying payment 169
report 151 applying to sales order 202
General Ledger converted from quote 193
beginning balances 32 defaults 104
defaults 22 entering 198
out-of-balance 33 paying 207
overview 21 voiding 228
overview of tasks 145 item classes 64
report 152
report descriptions 151 J
reports 151 Journal
Assemblies Adjustment 185
H Cash Disbursements 178
Help 2 Cash Receipts 212
history Cost of Goods Sold 185
customers 99 General 151
inventory 75, 186 Inventory Adjustment 186
vendors 55 Payroll 221
Purchase 179
I Purchase Order 179
Sales 214
ID Sales Order 214
changing 224
Income Statement 154 L
inventory
adding items 73 list
adjustments 182 adding to 140
beginning balances 81 customizing 142
costing methods 66, 75 editing 141
custom fields 67, 75 printing 141
defaults 62 searching 141
exempt 66 viewing 140
freight account 66 list window 140
history 75, 186 Lists 139
item classes 64
overview 61 M
overview of tasks 181 masking 27
receiving 160 master stock item 64
reports 185
243
..... INDEX
entering 195 U
filling 202 UPC number 75
Journal 214 Using 189
sales taxes
authorities 90 V
exempt 66
setting up 89 vacation time 116
taxable 66 vendors
searching a list 141 account aging 47
selecting adding 50
transactions 160 beginning balances 58
ship custom fields 48, 55
items 202 defaults 46
methods 66 deposits from 208
simplified chart of accounts 8 history 55
Startup Screen 4 invoices 160
statements paying 166, 173
defaults 104 payment terms 46
dunning messages 106 prepayment 176
substock item 64 purchase defaults 52
refunds 208
T voiding
checks 227
task window templates 227 invoices 228
taxable 66 transactions 227
templates 227
transactions W
editing 159
recurring 148 window
selecting 160 List 140
voiding 227 templates 227
write checks 173
245