Credit memo

Credit memo

•      Open Peach tree software.

·       Go to tasks in menu bar.

·       Select credit memo, new window is open.

·       Enter the date,Credit No, customer id, tab will shift from Apply to Sales to Apply to Invoices.

·        Then select the invoice from the upper bar

·        Then enter the Item, Quantity that returned to you by your customer, and the unit price of the item.

·        Then press ALT + S.

RECEIPTS

RECEIPTS

 Whenever company make sales to any customer, the cash which is received from it, is the revenue or income of the company and company records these received cash in the receipts of the peach tree software as an evidence for future inconvenience.

Open Peachtree software, go to Tasks click on it a new small window contains options appears.

Enter the option Receipts then a new window is open.

Enter the Deposit Ticket ID, which is written on the deposit slip, when we deposit cheque in the bank.

Enter the customer ID, who is paying the amount, when we select the Customer ID the window side will convert into grey, change from Apply to Revenue to Apply to Invoices.

Then enter the Reference number to continue this process because it is necessary to continue further.

Enter the receipts no.

Enter the date.

At the end select t on the option PAY.

Then press ALT + S.

Making Payments

Making Payments

When we purchase goods from our vendor and make payments to that vendor and obviously we have to record it into our recods. When we save it in a Peachtree software we have to follow some steps:

Open Peachtree software, go toTasks, then enter on the Payments.

A new window will open.

Enter the cheque number if the company is paying from the bank.

Enter the date.

Select the vendor ID to scroll the Look Up button, after selecting vendor ID, window will be changed in to grey colour, and side will be changed from Apply to Expenses to Apply to Invoices.

Click on the button PAY, if discount is provided by the vendor then select the Discount Account to click on the look up button from  below.

Then press ALT + S.

Maintain inventory item

Maintain inventory item

                          In Peachtree when the company sell or buy goods from the vendor or to the customer, we can also save it in the inventory to have a record in the company.

Open Peachtree software, then click on the maintain , a new small window have different options will be opened.

When we click on the Inventory Itemm then a new window will open.

First enter the Item ID, then enter the GL Sales Acct, GL Inventory Acct, GL Cost of Sales Acct and enter the Unit/Measure and then save it by ALT + S.

Then enter on beginning balance, anew small window will open.

Enter the item Id then enter the Quantity, Unit Cost, total Cost will automatically calaulated, then save it by pressing ALT + S.

When we assemble the goods then we go to Bill OF Material.

Enter the Item Id by looking in look up button, then enter the quantity needed, and press save from upper.

When we enter the labour then select labour from the item which is present on the  header field.

The next tab is Custom field, if we have an alternate vendor then we enter the other vendor name.

The next tab is History,when we make any transaction the information about it will become in history.

Assemblies

Assemblies

When a company manufacture or produce anything then the company must some assembles units to complete a good, have a record in the company, the company makes a record of goods which is used as assemble units in Peach Tree software.

1. Open Peach tree software.
2. Then click on tasks, anew options window is open then click on Assemblies.

1. A new window will be appears.

1. Now enter the Item ID and select the ID the name automatically enters
2. Then enter the Quantity on Hand, means units left in your company that you assembles.
3. Quantity to build, New Quantity and Reason to build then press save from the above.

Reports

Reports

In reports our all information of accounts and financial statement is available for examples information regarding Account Payable, Accounts Receivable and Balance Sheet etc. and to see this information we have to follow the instructions:

1.          Open peach tree software.
2.        Go to Reports at menu bar then open a new window containing the main heads of the information.

·         We are consider to take information about the financial statements of our company for this we can follow the following steps:

1.          Click on Reports, then a new tab window will open then select financial Statement.

1.   Then a new window will appear which contains all types of financial statements of the
2.  Company.
3.  Select the type of financial statement which you want to take or see the information. For example we select the first Balance Sheet from the list.

1. A new window will open then select the period and press OK.
2.  After pressing OK a schedule of Balance Sheet will be appeared.
3. After clicking OK, required information of our Balance Sheet of our company.

Global Option

Global Option

·         Go to Options.
·         Click on the first option Global.

·         Then a new will open
·         In first tab we have the option to change the decimal places
·         When you select the option Automatic then decimal will appear automatically, you don’t have to enter the decimal
·         And if you change option to manual then you have to enter the decimal your self.


                                         

Second tab: General
·         Improve your  Performance in print, quantity or length of report.
·         If you want to change the look up option that when you select the look up  button then quantity doesn't exit on it then you select the second option.
·         Color scheme also changed by different options.

General Journal entry

General Journal entry

·         When we want enter adjusting entries and closing entries in Peach tree software then we will use or go through the following steps:

·         Go to peach tree software

·         Select the option tasks from the menu bar

·         Then click on “General Journal Entry”

·         Then a new window will open.

·         Enter the date

·         Then enter the GL Account in which you want to make any change.

·         Then enter description about the entry.

·         Then enter the amount as Debit or Credit.

·         And press Alt + S.

Vendor credit memo, Sales Order/Quotes

Vendor credit memo/Sales Order/Quotes

         When we want to return the defective or defaults goods, then we will make vendor credit memo.

Step 1:

·       Go to peach tree software

·       Open tasks, enter vendor credit memo

·       Select the vendor id, the screen will be changed from “Apply to purchase “ to  “Apply to invoice number” and the write credit no, item, quantity that return, unit price and press enter ,total price is calculated automatically.

·       Then press Alt + S.

Quotes/Sales order:

Quotes are the quotation that we are sending to our retained customer or new customer to acknowledge them to purchase a certain quantity from us.

·       Go to Peach tree software, open tasks, and enter on Quotes/Sales order, a new list of option will be appears.

·       Select “Quotes” and a new window will be appeared.

·       Select customer ID to whom we want to send, and then write Quote no. , quantity, item, and unit price total will be automatically done.

·       Then press Alt + S.

When the reply comes from our customer then we have to change our quotes to our sales order.

Go to peach tree software.

Click on tasks, and then press Quotes/Sales Order, and then on Sales order.

A new window will be appear, then we open the quotation which we want to convert into the sales order.

Then change the date and convert it into sales  order from the menu bar.

Then press Alt + S.

purchase Order,Purchase Receive Inventory

 Purchase Order

Purchase order is a written order to the suppliers for making an order which item we need. Companies make these as evidence. The process is started with the vendors account.

First Step:

 First of all we have to make vendor from whom we made our orders, to make vendor go to maintain button then select vendor a new window is open write the vendor ID, Vendor name and then write the purchase account in the second tab Purchase Default.

Second step:

After making your vendor you have to make inventory item and for again go to maintain menu and select Inventory Item., anew window is open in which we have to fill the item ID, description then write GL Accounts of sales, inventory, cost of sale then press save or press ALT + S.

Third step:

After making vendor and inventory item, go to tasks on menu bar and select Purchase Order, anew window is open. In this window first you have to select the vendor by clicking on vendor ID then your vendor is open after that you have to fill the PO No, and fill the boxes of Quantity, Item, description, Quantity amount, and unit price and press Ok the amount is calculated.

Fourth step:

After placing an purchase order, when the purchases is received by the company then the company record it in the Purchase/Inventory received after clicking on it a new window is open.

When a new window is open enter the vendor ID when you enter the tab is change from Apply to purchase to Apply to Purchases order. Then after that enter the received quantity in received box and fill the box Invoice No. and press ALT +S.

NOTE:

Purchase order No. is important in purchase order if we don’t enter PO NO. then when we will go to purchase receive inventory then tab is not change from Apply to purchase to Apply to Purchases order.

Maintain vendor's record

Maintain Vendor record

To maintain vendor record go to maintain button click on it then a new small window is open then select the option vendor record.

 After clicking on it a new window is open and this window contains different tabs and first tab is Vendor ID in which the identity number of the person is to be written and in Name, the name of the person from whom we make purchases or take services. And the upper portion where Vendor id, name, and inactive is written is called the header field.

After filling this information the first tab is General Tab in which we fill the information about Contact, Account #, Address, country, vendor type, fax #, Email ID etc after fill in this information select the second tab Purchase Default then a new window is open and this window also have some option which we have to fill.

Purchase Rep: name of the person who you may hire or select as a purchase rep for the vendor.

Purchase Acct: it is a default purchase ledger account of the vendor. It is an expense account and occurs when purchase of anything is made. and this is necessary to write e.g we take the 1234.

Tax ID #: it is the tax id number of the vendor.

Ship Via: it is the type of medium that the good is transferred by which medium.

Terms: it is the discounting terms that 2% discount if the amount is paid in 10 days.

Form Delivery options: there are two method of placing an order you mention that when you place an order by an email or by a paper application form. After that select the third tab and that is Custom fields and then a new window is open.

In this tab there are further some options that if you want to enter some additional data on it then you may fill these options. After filling it select the last tab and that is History and then a new window is open.

When you make any purchase the history is displayed on this tab and this window contains some different and that is:

Vendor Since: Enter the date you first made a purchase order to the vendor.

Last Invoice Date:  Enter the date of last invoice which you have received from the vendor.

Last Invoice Amt: Enter the last amount of last invoice.

Last Payment Date: Enter the last date when you made payment to the vendor.

Last Payment Amt: Enter the amount of last payment which you have paid at last date.

How to maintain customer record

How to maintain customer record

After maintaining chart of account of our company now we have to make subsidiary ledgers of account receivable. Now open Peach tree Software with existing company and select option “maintain”.

After clicking on it a new menu bar is opened, select first option “Customer/prospectus” after clicking a new window is opened. And

New window consist of different options like customer id, name, prospectus, inactive this field is called header field.

After entering the customer id, name, save it from the above option or press the key Alt + S.

After that we fill the box of contact with the name of representative, and in second box we will enter the address of our customer’s invoice, and the third one is address in which email address of the employee is written.

The second tab is “Sales Default” and this tab contains some options and the first option is sales representative in which written the name of that person who made the sale.

The second one is general sales acct in which we maintain the ledger of sales and the third one is open P.O # and it is the number of open purchase order.

And the next is “ship via” that from which medium or way you choose to transfers the goods. And the next is” Resale #” that it enables the business to sell goods to other business for resale. if a customer intends to resale your goods then enter customer resale # . and the next is to set price  level from the list.

The next tab is “Payment Default”.

v Card holder Name that the name of the credit card holder.

v Address is the email address of that customer.

v Country that from which country he belongs.

v Enter the Credit card no. in the next box.

v Then enter the expiry date of the credit card number.

The next tab is “Custom Field” in which we enter the data of the other person as a reference.

The last tab is History that shows the details of daily transaction of our customer’s sales.

“Customer default”

In customer default we will handle some terms and that is account aging, payment terms, finance charges etc. Go on Maintain menu,

Then select “Default information” after that a new window is open that contains “Customers…” click on it.

After clicking on it a new window is open and it contains some tabs and first tab is “payment terms” in this:

Ø C. O. D means cash on delivery that the customer purchases the goods on cash.

Ø Prepaid: Customer pay cash in advance.

Ø Due in number of days: customer will pay the amount on the fix date.

Ø Due on day of next month: date of next month when the customer will pay the amount.

Ø Due at the end of month: date of end of month when customer will pay the amount.

The second tab is “Account Aging” in this first select the option below the Age Invoice by that whether the company maintain customer records on invoice date or in due date and we will select on Due date.. After that company may categorize the aging in number of days may be increase or decrease.

The next tab is “Custom field” we can change some specific information of our customer by it.

Ø Second Contact

Ø Reference

Ø Mailing list

Ø Multiple sites

And the last box is empty for further changes.

If we charge some amount to our customer as charges or if he paid some related charges.

And the last one tab is “Pay Methods” in which we clarify that in which method the customer will pay the amount for example by cash, by cheque, or by credit card.