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What is the purpose of assemblies in peachtree:

When you've produce any item during the year then you will enter the data in the assemblies’ window.

You can open it by clicking on task button as shown below:

The following window will appear when you will click on assembly’s option:

·         Item ID: The numerical code you want to give to item you’re building.

·         Name: The name of the Item.

·         Date: You will enter the date at which you want to built items.

·         Quantity On-Hand: This will show how much quantity you’re currently holding.

·         Quantity to build: you will enter how much quantity you want to produce.

·         New Quantity: Show the cumulative quantity.

·         After entering all the information by clicking “CTRL+S” you can save the entry.

Options available in the peachtree software related to financial statements:

First click on the report button and select the 1^st option from it. This will allow you to see all the necessary financial statements that you want to see. This is shown below:

The last picture shown above is the window from where you can select a report. This window is divided into 3 parts:

1.       Report Area: It shows the main group.

2.       Report List: it shows the reports that are available in a item that is available in report area.

3.       Report Description: It shows you the short detail of the report that you’re going to select from report list part.

The most important category is financial statements so I will choose the statement from that category. As shown below:

When you will click on the balance sheet the following window will appear on your screen:

In this window you will enter the time period of which balance sheet you’re concerned with or you want to access.

Let’s say we choose current period set by default and by clicking OK the current balance sheet will appear on your computer screen. Shown below:

As you've seen in the description that balance sheet lists all assets, liabilities, and capital of a business entity as of a specific date, such as the last day of an accounting period or the last day of the year. Hence it is what appears in balance sheet.

You can see the following buttons on top of the balance sheet window:

Explained from left to right:

1.       The close button will allow you to close the balance sheet window.

2.       The save button will allow you to save any changes you've made in the balance sheet.

3.       The option button will show you the following window explained before:

4.       The hide button will allow you to hide the name of your company from the balance sheet.

5.       The print button will allow you to get the print of the balance sheet.

6.       The setup button is related to the print option it allows you to change the output format of your printed balance sheet.

7.       The preview button is selected by default it shows you the balance sheet format.

8.       The design button will allow you to change the font size of the heading in your balance sheet and by clicking on it the format of balance sheet is changed as shown below:

How to maintain global option in peach tree:

First we will go in the options and from there we will select the global option.

Following tabs are present in the global option.

ACCOUNTING:

In decimal two options are present. Either you want to enter the decimal points yourself or you can select the automatic option and decimal will be added automatically.

In hide general ledger accounts you can hide the general ledgers you want to by just clicking on that link. Account receivable and payroll are by default already checked. So you can unchecked them.

In other options the warning message is already checked in which you can unchecked  You can also check the inactive button and the inactive option will not be present in the windows in which it was present. And by checking the recalculating option you will go in the payment account the calculations will be done.

GENERAL:

In the improve performance the first option is already checked. That option is use to –print the pages more sequence. In the option below it you can by checking that option the quantity of inventory or any such other accounts where quantity is shown will not be displayed.

Smart data entry includes the drop down list display in which the lists will automatically be drop down when you will go on that particular window.

You can also change the color scheme of the displayed windows.

PEACHTREE PARTNER:

Peachtree partners are the other software’s which are being associated with the Peachtree.

SPELLING:

In spelling checks various option are present through which we can check the spellings of the accounts which are entered. Also customized dictionaries are present.

How to enter general journal entry:

First we will go in the task menu and from there we will select the general journal option.

Following window will appear when you will click on the general journal option.

First we have to add the date and the reference number.

After that we will do the adjusting entries. For that purpose we shall first add the relevant account of that entry and then we will write the amount whether its credit or debit.

By clicking on the "save" button the entry will be saved.

Now next is how to maintain sales quotation and sales order:

Following figure will show you how to go to the quotation:

After clicking on the quotes:

Sales Quote is the statement that you are going to send to your customer and then he will send you the purchase order according to what you have offered and what he need.

Important points:

1.       Enter the customer Id, this will help you to identify the specific customer.

2.       The Date on which you are writing this quotation.

3.       Good thru, the date by which goods are needed to be delivered.

4.       Quote no, the number of this quotation.

5.       When you will select the customer id the term column will be automatically filled.

Now after the summon from the customer you can change this quotation into sales order just by clicking on the convert button:

The following window will appear on your computer screen when you will click on the convert button:

Select the sale order option as shown and the quotation form will be automatically convert to sale order.

NOTE: You have to enter the SO # (Sale Order number) before proceeding.

 Sale Order is shown below:

Now we are going to learn how to maintain vendor credit memos

1^st click on the task button and select vendor credit memos option as shown in the figure below:

After clicking on this option the following window will appear on your computer screen:

Basically this window is used to record Purchases return, means the things that you’re going to return to your vendors. This window contains different options:

1.       Vendor Id will be written in the vendor id bar.

2.       Date: The date at which you are making this document or recording this will be written in the date column.

3.       Credit no: The credit no will be written for the record.

4.       Terms: In this column the discounted term will be written that how much discount you are going to get from your vendor.

5.       When you will select the vendor then the tab will automatically change from “Apply to purchase” to “Apply to invoice no”.

How to record any payment in peachtree software:

You can open the payment tab by clicking on the task button and select the payment:

By clicking on the payment option the following window of payment will be appear on your computer screen:

You can choose the vendor to whom you want to make the payment by clicking on the look up button as shown below:

The column of date will show you the date on which the payment order is written. If the payment will be made within 10 days then you will receive 2% discount as written in the terms when we were maintaining this vendor. If you want to record the discount you've to maintain an account in charts of account and select it in discount account option which is placed in the bottom of the page.

If you don’t have a purchase discount account in your charts of account you can make it just by clicking on the discount account column you can make it:

Now when you will select this column then you entry will be recorded and saved:

In the above figure you can see that the pay column is checked and the amount paid is decreased by the amount of discount, this means your total payment will be off 490,000/-.

Now we will learn how to make a purchase order:

1^st step is as usual you will execute the peachtree software and following window will appear on your computer screen.

When you’re making the purchase order you’ve to be sure that your charts of accounts, customers, vendors and inventory items are maintained. If you don’t know how to maintain charts of accounts, customers, vendors or inventory items you can visit my following blog links, they will guide you in maintaining these processes:

1.       Charts of accounts: http://studytree.blogspot.com/2013/03/how-we-can-maintain-charts-of-accounts.html.

2.       Customers: http://studytree.blogspot.com/2013/04/how-to-maintain-customers-prospects.html.

3.       Vendors: http://studytree.blogspot.com/2013/04/how-to-maintain-enter-edit-or-amend.html.

4.       Inventory Items: http://studytree.blogspot.com/2013/04/how-to-maintain-inventory-items-in.html.

After you’re done with the necessary steps mentioned above now you can make the purchase order.

You can go to the purchase order window by different methods:

1.       By clicking on the task button:

2.       By clicking on the navigation aid button and from the 2^nd column you can click on the purchase order option:

When you will click on the option of the purchase order you will see the following window on your computer screen:

Now this window contains different boxes whose explanation is very important to describe if you are making a purchase order:

1.       Vendor ID: in this you will enter the id of your desired vendor to whom you’re writing this purchase order.

2.       Date: this is the date on which you’re making this purchase order.

3.       Good Thru: This is the date by which you want the goods delivered to you.

4.       PO No: It is very important that you write Purchase Order Number so the software had a record of your purchase order that it has been made.

The other boxes can be explained with the help of following image:

Here an example of purchase order is given. You can see that:

5.       Terms: This column contains statement “2% 10.Net 30 Days” this means that if you will pay the amount to your vendors within 10 days you will avail 2% discount.

6.       Discount Amount: This is the total amount of discount that you will avail.

7.       Ship Via: N/A.

8.       A/P Account: Accounts payable account is selected automatically because you are purchasing something on credit.

9.       Quantity: How much amount of unites you want to purchase.

10.   Receive: The amount that you’ve already received from your vendor.

11.   Item: The code that you’ve given to your item.

12.   Description: The nature of the product.

13.   GL Account: The inventory account is already selected.

14.   Unit Price: The Price of 1 Mobile Phone.

15.   Amount: The total amount of mobile phones.

After this you can save the purchase order by clicking on the save button on the top of this window or by clicking “Alt+S”.

The next step is “Purchase Received Inventory”. You can open it by clicking on the task button and clicking on it:

By clicking on it the following window will appear on your computer screen:

From here you will click on the “look up” button and you will click on the desired vendor eg:

You will see that the tab will be changed from “Apply to Purchases” To “Apply to Purchase Order No:”

And from the drop down button you will select the purchase order number:

From here you can see how much good are delivered to you and how much are not. You’re also required to write the invoice number on the top.

You can also look at the journal entry relating to this purchase order just by clicking on the “Journal” button that is avail able on the top of the window.

How to maintain inventory items in Peachtree Software:

1^st execute the software and from the maintain button click on the “Inventory Items” software as shown in the figure below:

After clicking on that the following window will appear on your computer screen:

In this window you need to fill the following details.

1)        Enter an ID for your item in item ID.

Note: THE ID’S CAN’T BE REPEATED.

2)     Enter name of that item in description. For example: Chairs, Tables, and Generators etc.

3)     Select a price level for that item from a given list of prices from price level list means that would be        the minimum price at which you will sale your item.

4)     Select tax type for that item. Whether it is flammable, breakable, Perishable etc.

5)     Mention the cost of last purchased item that you paid.

6)     Select a cost method from given list, it may be LIFO, FIFO and Average but by default it will be FIFO.

7)     Mention these accounts that will effected when ever you made an transaction.

·         That accounts are

·         GL sales account

·         GL inventory account

·         GL cost of sales account

8)     UPC/SKU is American goods delivery companies you can let this space blank.

9)     Is this item is perishable, fire hazard or danger item write it down here.

10)Location of this item in store room will be mention here.

11)In which unit you measure this product should be mention here in this window.

12)  Per unit weight of your item should be mentioned here.

13)Mention the minimum stock and reorder level for that product should be mentioned here. It will give you an alert massage when ever inventory goes down.

14)In preferred vendor ID write the ID of your vendor.

15)In buyer ID write that ID that your vendor gives to you in his books of accounts.

The next Tab is “ Custom Fields” , here you can enter the information related to your Vendor and this information can be edited from “Default Information” button.

After that the next tab is of history , this tab will show you all your transactions related to purchase or sale of inventory from the date of recording.