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PEACHTREE quickbooks advisor and bookkeeping san jose carson crew

PEACHTREE
ACCOUNTING
STEP BY STEP

EDITED BY
PATRICIA A CARSON, CQA


To use this manual:
Please read all sections FIRST to Computer Practice sections. Then
perform Computer Practice and print all requested forms and reports. This
manual is not intended to completely cover all aspects of the Peachtree
Accounting Program, but to provide an introduction to the software.

COMPANY BACKUP
Manual Backup and Restore
Backing up creates one file that includes all company information and
customized forms present at the time the backup was made, as well as all
transactions. To make a backup of your company, select Backup on the
Company pane.
Select the option to include the company name as part of the backup file

name. The letter BU plus today’s date are the default file name if you do not
check this box.
After you click Back Up, the Save Backup window opens. Select the
computer drive and location where you want to save your backup. Click
Save to create the backup. A message will appear, indicating the amount of
space needed for the backup file. Click OK to continue. The extension for
the backup will be PTB.
To restore a backup in Peachtree, you will want to first create a folder, as
there are several files that will be created when you restore. Select the
Restore option on the Company pane. Click Browse to choose the location
of your backup. In the next window, if you are NOT replacing an existing
file, you will choose the option New Company. If you are replacing an
existing company, click the Browse button to navigate to the location of
you’re the company you are replacing. Click Next. Choose Restore Options
– Company Data, and you can also select Customized Forms and Web
Transactions. Click Next. Verify the information is correct, and click on
Finish.
COMPUTER PRACTICE:
1. Create a new folder on your desktop labeled Stone Arbor
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2. Open Peachtree. Choose to open Stone Arbor Construction.
3. Following the instructions above, Backup and Restore Stone Arbor
Construction.
.

COMPANY SET UP – CREATE A NEW
COMPANY
Create a New Company - Company Information
You use the company information window to enter basic information about
your company such as




name and address information
telephone and fax numbers
Web site address (for example, www.company.com) and primary email address (for example, sales@company.com or
service@company.com)


Note: Do enter the "http://" prefix in the Web site address field.





federal and state employer identification numbers
state unemployment ID
type of business

You can change company information at any time.
When you're finished entering information, select the Next button.
Select Method to Create
You need to establish how your new company will be set up:


Use a sample business type that closely matches your type of
company: Select this option to copy basic setup information,
particularly a chart of accounts, from a sample company. You can
select either a simplified chart of accounts that contains only the basic
accounts you need to get started; or you can choose a detailed chart.
Depending on which version of Peachtree you are using your

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selections will vary. You can modify the accounts later, according to
your needs. For more information, click .
Copy settings from an existing Peachtree company: Select this
option if you want to copy setup information from another Peachtree
company or you are rebuilding a Peachtree company.
Convert a company from another accounting program: Select this
option if you want to import company data from Peachtree Complete
Accounting for DOS or Peachtree Classic (PCA), Quicken, or some
other program. For more information, click . The version you have
will not convert the version of QuickBooks on your computer.
Build your own company: Select this option if you want to create a
company from scratch. This option is only recommended for
experienced users who are comfortable setting up accounting
information. For users coming from a paper ledger, we recommend
that they select a business type (see above) that most closely matches
their existing chart of accounts and then modify it as they have need.

If you select this option, make sure you set up your chart of accounts prior to
setting up any other part of the company. Do this immediately after finishing
the Create a New Company wizard.


Consolidate existing Peachtree Accounting companies: (Peachtree
Premium Accounting and above only) Select this option to combine
the charts of accounts of a number of existing Peachtree companies to
create a new consolidated chart of accounts. This will let you see
consolidated financial statements for multiple businesses operating
under an umbrella organization

Create a New Company - Business Type
Your company's business type is a complete list of all account names that
will be used in the general ledger, including a set of Equity accounts tailormade for the business. Each account is associated with an account ID to help
locate it when recording data. Charts of accounts can vary depending on the
type of business. Peachtree provides sample companies from which you can
copy the chart of accounts. This is a useful shortcut to set your company.
Later, you can modify the chart of accounts to meet the specific needs of
your business.

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1. Start Create a New Company and make sure the Use a sample
business type that closely matches your company option is selected.
2. Select the chart of accounts that matches your type from the list.
Depending on the version of Peachtree that you are using the list of
simplified and detailed business types will vary. To the right, you can
see the chart of accounts that will be created if you select a particular
business type.
3. To view more information about an industry, select the View details
about a business type link.
4. To continue setup of your company, select the Next button. Peachtree
displays the Create a New Company – Accounting Method window.
Create a New Company - Posting Method
The posting method determines how Peachtree processes transactions to
journals and the general ledger.
1. Start Create a New Company, and make sure the Posting Method
window is displayed.
2. Choose the posting method you want to use when processing
transactions:
Real-Time Posting: Transactions are posted to the journals and the
general ledger as they are entered and saved. This method can save
you time and is best for most business and network environments.
Most companies use this method.
Batch Posting: Transactions are saved by the program and then
posted in a group. When you use batch posting, you can print registers
and check the batch of transactions before posting them to the
journals.
You can switch posting methods at any time.
3. To continue setting up your company, select the Next button.
Peachtree displays the Create a New Company - Accounting Periods
window.

Create a New Company - Accounting Method
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The accounting method determines how Peachtree handles General Ledger,
Accounts Receivable, and Accounts Payable transactions.
1. Start Create a New Company, and make sure the Accounting Method
window is displayed.
2. Choose the accounting method to run your business:
Accrual Accounting: Income is recorded as you invoice customers,
and expenses are recorded when you receive bills from vendors,
regardless of when cash is actually exchanged. This presents a truer
picture of income and expenses. Most companies use this method.
Cash-Basis Accounting: Income is recorded when cash (checks,
money orders, or currency) is received, and expenses are recorded
when paid. However, unpaid credit sales and purchases do not show
on ledgers, which can present a misleading picture of income and
expenses.
If you use cash-basis accounting, you may discover that the inventory
valuation report does not agree with the general ledger account for
inventory. This is because inventory uses the accrual method, while
the general ledger is cash basis. This means that the inventory records
will be updated to reflect unpaid purchases and sales, while the
general ledger will not be updated until actual money changes hands.

Create a New Company - Accounting Period Structure
Accounting periods are units of time that divide your fiscal year for
reporting purposes. In Peachtree you can set up to 13 accounting periods per
fiscal year.
1. Start Create a New Company, and make sure the first Accounting
Periods window is displayed.
2. Choose the accounting period structure you want your company to
follow:
12 monthly accounting periods: Each accounting period's starting
and ending dates match those of the 12 calendar months. You can

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choose to start your fiscal year in January or any other month of the
year. Most companies follow this fiscal year structure.
Accounting periods that do not match the calendar months:
Choose this option if you want to set up a custom fiscal year structure.
For example, you may want four accounting periods per year or
possibly 13 four-week accounting periods per year.
3. To continue setting up your company, select the Next button.
Peachtree displays the next Create a New Company window
corresponding to your setup option.
Create a New Company - Fiscal Year
Starting dates need to be established for setting up your company and
entering data. Once you establish a starting date, Peachtree will
automatically set up monthly accounting periods for your first two fiscal
years.
1. Start Create a New Company, and make sure the 12 monthly
accounting periods setup option is selected.
2. Enter the first month of your first fiscal year, or select it from the
drop-down list. Then, enter the year.
Usually, a company's fiscal year starts in January and ends in
December. However, some companies start their fiscal year in July
and end in June.
Note: If you are creating a consolidated company (Peachtree Premium
Accounting and above), this field will be disabled (gray) and will
display the first month and year of the consolidated company's first
fiscal year, based on information taken from the subsidiary
companies.
3. To continue setting up your company, select the Next button.
Peachtree displays the Create a New Company - Finish window.

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Create a New Company - Finish
Use this procedure to complete the new company setup process.
1. Start Create a New Company, and read the information in the window
and follow the prompts.
2. Complete each window that follows until Peachtree displays the New
Company Setup – Finish window.
3. Read the information on the window.
4. Select the Finish button to save your company settings.

Set Up Your Chart of Accounts
Select the Chart of Accounts option from the Maintain menu.
Peachtree displays the Maintain Chart of Accounts window.
1. Enter an account ID and description for the account.
The account ID determines how the account is identified and sorted in
the chart of accounts list. Most charts of accounts are set up with
specific account types grouped together.
2.
3.
4.
5.

Select an account type from the drop-down list.
Select Save.
Repeat step 1 to 3 till all chart of accounts are created
Select Close.

Entering of Opening Balances
Method One:
1. From the Tasks menu, select General Journal Entry. Peachtree
displays the General Journal Entry window.
2. Enter or select the date of the transactions you want to enter.

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Peachtree defaults this date to the Peachtree system date. If you are in
an accounting period that is different from the system date, then
Peachtree displays the first day of that period.
3. Enter a reference for the transaction up to 20 characters.
If you enter a number reference, Peachtree will increase future
General Journal entries by one while this window is open.
4. For each line enter or select an account ID. To display a list of
existing accounts, type ? in the G/L Account ID field, or select the
Lookup button.
For each line enter an amount in either the Debit or Credit columns.
5. For each line enter a description for the transaction.
The description will appear in General Ledger and various reports.
6. Once the Out of Balance field is zero (0.00), select Save to record the
transaction in the General Journal.
Method Two:
Go to Charts of Accounts, available on the Company Tab, or on the Drop-Down Menu
Lists

1.
2.
3.
4.
5.

Click on New Account
Click on Account Beginning Balances
Chose 12/31/10 as the date to enter balances
Enter balances for accounts as listed in Computer Practice
Be sure that debits and credits balance

Set Up a Customer
Use this procedure to set up a new customer record.
1.
2.
3.
4.

From the Maintain menu, select Customers/Prospects.
Enter a new customer ID, and complete the necessary information.
click sales default tab
click GL sales account button

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5. Click New Button from the window that appear at the bottom side of
the window
6. Create two chart of accounts for the customer. Note: Account Type
should be Income and Account Receivable
7. Close the chart of account window
8. Clock GL sales Account button again
9. Select Chart of Account for the Customer just created. It is of the
account type Income.
10. When you're finished filling in the window, select the Save button.
11. On the General tab, select the Beginning Balances button. Peachtree
displays the Customer Beginning Balances window.
12. On the Invoices for tab, enter the invoice number, invoice date,
purchase order number (if applicable), amount, and the appropriate A/R
account (if necessary) for each unpaid invoice for this customer that
needs to be recorded when starting Peachtree.
13. These transactions can be adjusted at any time unless a receipt has
been applied to the invoice. If a receipt has been made, the invoice will have
a gray background. To edit it, you must delete the receipt first.
If you need to enter more than one line on this tab, press ENTER and
continue adding invoices.
1. To enter beginning balances for additional customers, select the
Customer Balances tab. Double-click the customer name, or
highlight the name and select the Invoices for tab.

Set Up a Vendor
Use this procedure to set up a new customer record.
11. From the Maintain menu, select vendor.
12. Enter a new vendor ID, and complete the necessary information.
13. click purchase default tab
14. click GL expenses account button
15. Click New Button from the window that appear at the bottom side of
the window
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16. Create two chart of accounts for the customer. Note: Account Type
should be expenses and Account payable
17. Close the chart of account window
18. Click GL expense Account button again
19. Select Chart of Account for the vendor just created. It is of the
account type Expense.
20. When you're finished filling in the window, select the Save button.
2. On the General tab, select the Beginning Balances button. Peachtree
displays the Customer Beginning Balances window.
3. On the Invoices for tab, enter the invoice number, invoice date,
purchase order number (if applicable), amount, and the appropriate
A/P account (if necessary) for each unpaid invoice for this customer
that needs to be recorded when starting Peachtree.
These transactions can be adjusted at any time unless a receipt has
been applied to the invoice. If a receipt has been made, the invoice
will have a gray background. To edit it, you must delete the receipt
first.
If you need to enter more than one line on this tab, press ENTER and
continue adding invoices.
4. To enter beginning balances for additional vendors, select the Vendor
Balances tab. Double-click the customer name, or highlight the name
and select the Invoices for tab.

Set Up an Inventory Item
Use this procedure to set up a new inventory item record.
1. From the Maintain menu, select Inventory Items.
2. Enter a new item ID, and complete the necessary item information.
3. Create GL Sales Account, GL Inventory Account, GL Cost of Sales
Account for each inventory.
4. When you're finished filling in the window, select the Save button.
5. On the General tab, select the Beginning Balances button. Peachtree
displays the Inventory Beginning Balances window.
From the item list, enter or select an item ID that you want to record a
beginning balance.
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4. For each item, enter two of the three fields: quantity (on hand), unit
cost, and total cost. Peachtree will calculate the third or remaining
field.
5. When finished entering beginning balances for all your inventory
items, select OK.
COMPUTER PRACTICE:

1. Create a new company, using the instructions above, with the
following information:
a. Name of Company: Your Name Consulting
b. Address: 1275 E. Moorpark, San Jose, CA 95128
c. Phone Number 408-555-1111
d. Fax Number 408-555-1112
e. Federal ID – 77-123456
f. State ID 555-25-1234
g. Choose a Sample Company, Type is Service
h. Method of Accounting: Accrual
i. Posting: Real Time
j. 12 Month Period
k. First Period Entering information: January 2011
l. Add the expense account: Licenses and Permits
m. Add Account Beginning Balances for January 2011:
i. Checking: $44,385.60
ii. Accounts Receivable: $62,480.00
iii. Inventory: $2,450.00
iv. Accounts Payable: $12,225.00
v. Retained Earnings: $97,090.60
n. ADD the following customers:
i. Quality Construction, 1448 Stevey Reynolds Blvd.
Fremont, CA 94538, 510-657-1234,
bob@qualityconstruction.biz,
www.qualityconstruction.biz Customer ID: QC1000
ii. Teesdale Real Estate, 4555 Indian Lake Lane, Campbell,
CA 95008, 408-562-4562, ryan@teesdale.com,
www.teesdale.info Customer ID: TR1002
o. ADD the following vendors:

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i. AAA Office Supply, 125 Airport Way, San Jose, CA
95126, 408-555-8000, info@aaos.net, www.aaos.net
Vendor ID: AA100
ii. First National Bank, P.O. Box 4568, Memphis, TN
12366, 888-458-3145, www.fnb.bnk Vendor ID:
FN106
p. ADD the following inventory items
i. ID: IN151, Instruction Manual, noninventory, Sales Price
and account numbers: $125, 4050, 1200, 5000
ii. ID: TST125, Test, noninventory, Sales Price and account
numbers: $50, 4050, 1200, 5000
q. Print the following: (See Appendix A for Report Creation)
i. Balance Sheet for January 31, 2011
ii. Customer List
iii. Vendor List
iv. Item List
PLEASE CLOSE THIS COMPANY.

RESTROE BELLWEATHER GARDEN SUPPLY. THE BALANCE OF THE
PEACTREE MANUAL WILL BE DONE IN THIS FILE.

TRANSACTIONS POSTING
Enter A Sales Invoice
From the Tasks menu, select Sales/Invoicing. Peachtree displays the
Sales/Invoicing window.
1. Enter or select the customer ID. To display a list of existing
customers, type ? in this field, or select the Lookup button. To add a
new customer, type + or double-click the field, which displays the
Maintain Customers/Prospects window.
When the customer is selected, Peachtree supplies the customer
default information, including billing and shipping addresses, sales
account, shipping method, payment terms, and sales tax code.
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2. If this customer has open sales orders, the Apply to Sales Order tab
appears in front. To enter new items on the invoice, select the Apply
to Sales tab.
3. Leave the Invoice # field blank if you want Peachtree to print an
invoice. Peachtree will increase the invoice number by one when it is
printed. Otherwise, enter an invoice number or other reference
number. (If you print the invoice with an invoice number assigned or
print it again later, the invoice will have the word DUPLICATE on it.)
4. Enter the date of the transaction if it is different from the displayed
date.
5. If you have entered a default shipping address in the customer's
record, the first shipping address will appear on the invoice. You can
select another shipping address from the choices available in the Ship
To drop-down list, or manually enter another address in the Ship To
fields.
6. If you have entered a default P.O.# in the customer's record, it will
appear on the invoice. If not, you can enter the customer's purchase
order number now or change the default to any other piece of
information that will identify this invoice to the customer.
7. If you have entered a default shipping method in the customer's
record, it will appear. You can select the Ship Via button if you want
to select a different shipping method. You can also enter a ship date.
8. Peachtree uses the default terms you have entered for the customer,
but you may want to select the Terms button to change the default
discount dates or amounts for this invoice. When a receipt that
qualifies for an early-payment discount is applied against the invoice,
Peachtree will calculate the discount.
9. If you entered a default Sales Rep in the customer's record, it will
appear. Otherwise, select the code of the sales representative, if
applicable.
10. Enter the information for each item included on the invoice on a
separate line, including the item's quantity, item ID, description, unit
price (the number of decimal places is selected in Global Options),
sales tax status, and job information.


If the line item contains serialized inventory, you will need to
select serial numbers for the item(s). Select the line item with
the serialized inventory item, then select the Serial No button to
enter or select serial numbers. The Serial Number Selection
window appears. Select the serial numbers you need and select
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OK when you're finished to return to the Sales/Invoicing
window. However, if the invoice has more than one line item
that contains serialized inventory, you can select the OK/Next
button to save the current entry and move to the next serialized
item.
13. The default G/L sales account that appears for each line item is based
on the customer sales account default or the item ID selected. To
change the account ID, type ? in this field, or select the Lookup
button. To add a new account, type + or double-click the field, which
displays the Maintain Chart of Accounts window.
14. Continue entering line items until you have entered them all.

15. If you have received a partial or full payment for this invoice at the
time of the sale, select the Amount Paid at Sale button. Peachtree
displays the Receive Payment window, where you can enter receipt
information.
The Net Amount Due displays what the customer currently owes for
the sale.
16. At the bottom left corner of the window, the selected customer's
balance, credit limit, and credit status is displayed. You can click the
arrow button to the right of the customer balance to display the current
Customer Ledgers report for this customer.
17. Select the Print button if you want to print and save the invoice.
Otherwise, click the Save button.

Apply a Payment to an Invoice
When a customer pays an invoice, enter the amount in the Receipts window.
To enter customer payment on an invoice
1. From the Tasks menu, select Receipts. Peachtree displays the
Receipts window.

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2. Enter a deposit ticket ID that can easily represent the type and source
of payment. This will make account reconciliation easier to manage.
3. Enter or select the customer ID. To display a list of existing
customers, type ? in this field, or select the Lookup button.
If there are unpaid invoices for this customer, Peachtree lists them on
the Apply to Invoices tab. If there are no unpaid invoices, Peachtree
displays the Apply to Revenue tab.
4. Enter a reference number that will help identify the receipt (for
example, the customer's check number).
5. Select a payment method (for example, Cash or Check). Payment
methods are set up in Customer Defaults; these are quite useful in
reports when managing receipts.
6. In the Cash Account list, enter or select the bank account in which
the receipt is deposited.
7. On the Apply to Invoices tab, select the Pay check box next to each
invoice that the customer is paying.
o If the customer has paid the invoice in full, place the cursor in
the Amount column for the invoice, and select the Pay check
box. Peachtree will fill in the Amount Paid field.
o If the customer has only paid a partial amount on the invoice,
enter that amount. Peachtree will automatically select the Pay
check box.
Note: If your customer overpays the amount, a credit is made to the
customer's ledger; for underpayments, the payment amount is applied
to the invoice balance. You will need a reference number in order to
post or save the record.
8. Select the Print button if you want to print and save the receipt.
Otherwise, click the Save button.

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Enter Customer Returns
1. From the Tasks menu, select Credit Memos. Peachtree displays the
Credit Memos window.
2. Enter or select the customer ID. To display a list of existing
customers, type ? in this field, or select the Lookup button.
3. In the Credit # field, enter the ID that you want to apply to the credit
memo.
4. If the transaction date is different from the one displayed, enter or
select a new date.
5. Do one of the following:
 If the credit memo is to be applied to an existing invoice for the
customer, on the Apply to Invoice # tab, use the drop-down list
to select the appropriate invoice. When line-item information
for the invoice appears, find the item or items to be returned,
and in the Returned column enter the quantity. Peachtree will
automatically restore this quantity to inventory.
 If the credit memo is to be applied to a sale for which there is
no existing invoice, on the Apply to Sales tab, enter line-item
information for the item or items to be returned or credited,
including quantity. Peachtree will automatically restore this
quantity to inventory.
6. If you want to print the credit memo, we recommend that you print it
at this time and not from Reports. To print the credit memo, select the
Print button.
7. When finished, select Save.

Enter a Vendor Bill
From the Tasks menu, select Purchases/Receive Inventory.
Peachtree displays the Sales/Invoicing window.
11. Enter or select the Vendor ID. To display a list of existing vendor,
type ? in this field, or select the Lookup button. To add a new vendor,
type + or double-click the field, which displays the Maintain vendor
window.

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When the vendor is selected, Peachtree supplies the vendor default
information, including billing and shipping addresses, purchase
account, shipping method, payment terms.
12. If this vendor has open purchase orders, the Apply to purchase
Order tab appears in front. To enter new items on the invoice, select
the Apply to Purchase tab.
13. Leave the Invoice # field blank if you want Peachtree to print an
invoice. Peachtree will increase the invoice number by one when it is
printed. Otherwise, enter an invoice number or other reference
number. (If you print the invoice with an invoice number assigned or
print it again later, the invoice will have the word DUPLICATE on it.)
14. Enter the date of the transaction if it is different from the displayed
date.
15. If you have entered a default shipping address in the vendor's record,
the first shipping address will appear on the invoice. You can select
another shipping address from the choices available in the Ship To
drop-down list, or manually enter another address in the Ship To
fields.
16. If you have entered a default P.O.# in the vendor's record, it will
appear on the invoice. If not, you can enter the vedor's purchase order
number now or change the default to any other piece of information
that will identify this invoice to the vendor.
17. If you have entered a default shipping method in the vendor's record,
it will appear. You can select the Ship Via button if you want to select
a different shipping method. You can also enter a ship date.
18. Peachtree uses the default terms you have entered for the vendor, but
you may want to select the Terms button to change the default
discount dates or amounts for this invoice. When a receipt that
qualifies for an early-payment discount is applied against the invoice,
Peachtree will calculate the discount.


If the line item contains serialized inventory, you will need to
select serial numbers for the item(s). Select the line item with
the serialized inventory item, then select the Serial No button to
enter or select serial numbers. The Serial Number Selection
window appears. Select the serial numbers you need and select
OK when you're finished to return to purchase/receive
inventory window. However, if the invoice has more than one
line item that contains serialized inventory, you can select the
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OK/Next button to save the current entry and move to the next
serialized item.
18. The default G/L sales account that appears for each line item is based
on the vendor sales account default or the item ID selected. To change
the account ID, type ? in this field, or select the Lookup button. To
add a new account, type + or double-click the field, which displays the
Maintain Chart of Accounts window.
19. Continue entering line items until you have entered them all.
20. Select the Print button if you want to print and save the invoice.
Otherwise, click the Save button.

Apply Payment to Vendors.
To select a range of vendors whose invoices you want to pay:
1. From the Tasks menu, choose Select for Payment.
2. Enter the check date. This is the date that will be printed on the
checks.
3. Next, you can filter invoices based on the due date or the discounts
lost by date.
For example, if it is March 18th and you want to see all invoices due
before March 31st, enter March 31st in the Invoices Due Before field.
If, instead, you want to see invoices whose discounts will be lost by
March 30th, enter March 30th in the Discounts Lost By field.
4. Select which invoices you want to include. You can include all
invoices or specific ones based on the number of days overdue and the
balance amount. For example, you may want to view invoices 15 days
past the due date that have balances over $25.
Enter either a range of vendors, or enter the starting vendor if you
want to print a check for a single vendor.
5. Select the Always take discounts regardless of due date check box
if you want discounts calculated even if the discount date has passed.
6. When all selections are correct, click OK.

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Enter Vendor Returns
6. From the Tasks menu, select Vendor Credit Memos. Peachtree
displays the Credit Memos window.
7. Enter or select the Vendor ID. To display a list of existing Vendors,
type ? in this field, or select the Lookup button.
8. In the Credit # field, enter the ID that you want to apply to the credit
memo.
9. If the transaction date is different from the one displayed, enter or
select a new date.
10. Do one of the following:
 If the credit memo is to be applied to an existing invoice for the
Vendor, on the Apply to Invoice # tab, use the drop-down list
to select the appropriate invoice. When line-item information
for the invoice appears, find the item or items to be returned,
and in the Returned column enter the quantity. Peachtree will
automatically restore this quantity to inventory.
 If the Vendor credit memo is to be applied to a Purchase for
which there is no existing invoice, on the Apply to Sales tab,
enter line-item information for the item or items to be returned
or credited, including quantity. Peachtree will automatically
restore this quantity to inventory.
8. If you want to print the Vendor credit memo, we recommend that you
print it at this time and not from Reports. To print the Vendor credit
memo, select the Print button.
9. When finished, select Save.

Write Checks
1. From the Tasks menu, select Write Checks.
2. Enter or select the ID of the vendor you want to pay.
o To display a list of existing vendors, type ? in this field, or
select the Lookup button.
1. To add a new vendor, type + or double-click the field, which
displays the Maintain Vendors window.
If you are entering a handwritten check, enter the check number in
the Check Number field. If you want Peachtree to print the check,

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leave this field blank. If this is an electronic payment, the Check
Number field will read "Electronic."
2. Enter or select the date of the disbursement, not necessarily today's
date.
3. Enter the total amount of the check.
4. If desired, enter a memo up to 30 characters long.
5.
Enter or select the cash account from which you will be writing
the check.
6. Enter or select the expense account you want to use to distribute
the payment.
7. If you want to distribute this payment to multiple individual line
items, select the Split button. The Split Transaction window
appears, allowing you to make additional distributions. For more
information, click .
8. In the Description field, Peachtree offers a default description for
the distribution. If needed, change it.
COMPUTER PRACTICE:
Enter the following transactions:
1. Sales Invoice #DBS102 to: Dash Business Systems on
3/10/2011
a. 1 EQFF-13110
b. 1 EQWT-15120
2. Sales Invoice to: Golden Gardens GG103 on 3/11/2011
a. 3 AVRY-10050-SM-HTL
b. 12 AVRY-10140
3. Receive a payment on 3/15/2011 from Archer Scapes and
Ponds for $7,374.69, Reference 17850
4. Issue a Credit Memo to Armstrong Landscaping for 1
EQLW-1411 returned on 3/18/2011
5. Enter Bill from Southern Garden Wholesale for PO Number
10201, all remaining items on PO. Add Freight, GL account
57500-00 of $25.00 on 3/19/2011
6. Pay Vendors Caldwell Tools Company Bill #C1280 and
C1450, and Akerson Distribution Bill #A-7811 3/25/2011
7. Enter Vendor Return to Clooney Chemical Supply for 1
EQFF-13100 for damaged Fertilizer Pump Sprayer on
3/26/2011
8. Write check for balance of rent ($600.00) on 3/26/2011 to
Mills Leasing Corp.
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9. Create the following reports: Income Statement, Balance
Sheet, Aged Accounts Receivable and Aged Accounts
Payable for March, 2011

General Journal Entry
The General Journal is used to enter those types of transactions that are not
readily categorized in the Tasks menu. Typical General Journal entries
include chart of account beginning balances, depreciation, and account
transfers.
Here, you also enter adjustments you need to make during Account
Reconciliation. Such adjustments are necessary to account for errors, service
charges, check charges, or unrecorded withdrawals or deposits. When you
select Adjust in Account Reconciliation, the General Journal Entry window
opens.
Unlike other screens in Peachtree, you provide all the accounting
distributions in the General Journal. At other times, Peachtree automatically
distributes certain amounts, based on guidelines you set in Maintain menus.
1. From the Tasks menu, select General Journal Entry. Peachtree
displays the General Journal Entry window.
2. Enter or select the date of the transactions you want to enter.
Peachtree defaults this date to the Peachtree system date. If you are in
an accounting period that is different from the system date, then
Peachtree displays the first day of that period.
3. Select the Reverse check box to have the transaction automatically
reversed the first day of the next accounting period.
Reversing means that debits become credits and credits become
debits.
4. Enter a reference for the transaction up to 20 characters.
If you enter a number reference, Peachtree will increase future
General Journal entries by one while this window is open.

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For each line enter or select an account ID. To display a list of
existing accounts, type ? in the G/L Account ID field, or select the
Lookup button.
5. For each line enter a description for the transaction.
The description will appear in General Ledger and various reports.
6. If the transaction is associated with a job, enter or select a job ID. You
can later apply the General Journal entry to a customer invoice, if
needed.
7. Once the Out of Balance field is zero (0.00), select Save to record the
transaction in the General Journal.

To record an inventory adjustment
1. From the Tasks menu, select Inventory Adjustments. Peachtree
displays the Inventory Adjustment window.
2. Enter or select the item ID you want to adjust. To display a list of
existing items, type ? in this field, or select the Lookup button. To add
a new item, type + or double-click the field, which displays the
Maintain Inventory Items window.
This can only be an item classified as a stock item, serialized stock
item, assembly item, or serialized assembly item. If the item is
serialized, the Serial No button will become available when you
select the item ID. You will need to enter or select serial numbers
after you have entered an adjustment quantity in Step 7.
3. Enter anything you like in the Reference field up to 20 alphanumeric
characters.
For example, you could enter your initials or the date in this field.
4. Enter or select the date the change in inventory occurred or the date of
the physical inventory count.
The date is automatically filled in as the current system date.
5. If you are tracking jobs, enter or select a job to attach this adjustment
to.
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6. Enter or select a G/L account to take this adjustment out of, and enter
a unit cost for the inventory item (for positive adjustments only).
The default G/L source account is the Cost of Goods Sold Account.
The other account affected by adjustments is the inventory account.
To change the account ID, type ? in this field, or select the Lookup
button.
The Unit Cost default is the current cost of the item and must be
positive.
7. Enter the amount to adjust the quantity by.
The Quantity on Hand is already filled in, and Peachtree calculates
the New Quantity after you enter the adjustment.
If this adjustment is being made to a serialized inventory item, select
the Serial No button. Depending upon whether you enter a positive or
negative quantity, either the Serial Number Entry or the Serial Number
Selection window will appear. To find out which window will appear, click
here . After you have entered or selected serial numbers, click OK to return
to the Inventory Adjustments window.
8. If you know the reason for the adjustment, enter it.
For example, Found in warehouse or Theft.
9. Save the adjustment. The Cost of Goods Sold, Inventory Total Value,
and Inventory G/L accounts are all updated.
COMPUTER PRACTICE:
1. Enter Journal Entry for Depreciation of Equipment for $442.31
dated March 31, 2011. Accounts: 64000-00 Depreciation Expense,
17100-00 Accum. Depreciation-Equipment
2. One Stone Bird Bath Broken, Adjust Inventory for one less
AVRY-10150 on March 31, 2011
3. Print General Journal Report and Inventory Adjustment Journal for
Period March 1-31, 2011

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ACCOUNT RECONCILIATION
1. From the Tasks menu, select Account Reconciliation. Peachtree
displays the Account Reconciliation window.
2. Enter or select the account you want to reconcile. To display a list of
existing accounts, type ? in the Account to Reconcile field, or select
the Lookup button.
3. Enter the closing date from the bank or credit card statement as the
Statement Date
The statement date you select must be within the current accounting
period.
4. Enter the Statement Ending Balance (the ending balance amount
included on the bank statement) in the lower-right section of the
window.
Transactions that are available to be cleared are listed at the center of
the window; you can use the Show drop-down arrow button to select
which transactions you would like to appear. For each transaction,
reference information such as check numbers, amounts, dates, and
vendor/payees or descriptions are listed. By default, checks are sorted
by check number. You can change the sort order by clicking the
heading of the column you want to sort by.
5. Check to see if these amounts are correct. Select the arrow button next
to the field; the Imported Interest / Charges window will list
information about the imported item(s). If any items represent
duplicate entries or bank errors, you can delete them in this window.
6. Select the Clear check box next to each item that is included on the
bank statement. You can also use the right-click menu buttons that
appear when you select a row; both give you additional options.
In addition, you can select the All button to select all transactions as
cleared. Or you can select the Range button to choose a range of
checks or deposits to clear.
Peachtree keeps track of how many transactions recorded in the
general ledger are cleared, how many are not, and the associated
totals.

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