what are global options

                               GLOBAL OPTIONS

To open global option select global from the option bar.

By selecting this option following wizard appears on the screen. This window has 4 tabs

·         Accounting.

·         General

·         Peach tree partner

·         spelling

In accounting tab there are three things decimal entries, hide general ledger a/c and other options. In decimal entry we are provided with two options manual or automatic. In automatic peach tree software will automatically choose the appropriate decimal point but in manual we have to set the limit that up to which decimal point we want to record the amounts normally it’s up to 2 decimal points. We can also hide our accounts for e.g. account receivable, account payable in order to prevent the leakage of the company records. Next is general tab.

By selecting general tab above window will appear on the screen. In this tab we can see 4 options

·         improve performance

·         line item

·         data entry

·         and color scheme

The Third tab is PEACH TREE PARTNERS

In this tab you have to select the security level for your software partners from a range of high to low. If we select high only few partner software will work and if we select low our security level will decline. After selecting the desired option click on the spelling tab to proceed.

Spelling tab is the last tab in the global option. This tab is used to check whether your spellings are correct or not.

how to make general journal entry

                       GENERAL JOURNAL ENTRY

To open general journal entry select this option from the task bar.

By clicking general journal entry following window appears on the screen. In this window write the required information

·         Select the date of transaction

·         Provide reference

·         Select the G/L account with the help of look up button

·         Write the entries.

Then save all the data.

                            How to Assemble Inventory

Assembly section is used to increase your finished goods inventory. To assemble inventory select assemblies from the task menu.

By selecting assemblies following window appears on the screen. Here you have to select item id and date. Then write name, reference, quantity on hand, quantity to build and new quantity. After providing the required data click save.

             How to make credit memo-sales return

For recording the sales return from customer we will select the credit memo from the task menu.

By selecting credit memo following wizard appears on the screen.

In this window we will write

·         Customer id:ID  of customer to whom you have made sales in past and now he has return some of the goods from those sales

·         Date: Here we will write the date on which goods have been returned

·         Quantity: here we will write the quantity of items that are returned by the customer.

·         Item

·         Unit  price

·         Credit card no

·         Terms

After filling the required fields save the information.

sales

                   How to make sales order/sales quotation

To open sales order Select quotes/sales order from the task menu then select sales order.

By clicking sales order following window appears on the screen.

Now write the customer id, date and sales order no then select the quantity, item and price at which you sale. Then click save to proceed. After completing this procedure again select sales/quote order from the task menu and then select quotes. By selecting quotes following window appears on the screen.

Now provide the desired information. Choose customer id with the help of look up button, date, good thru date and quote no. then write quantity, item and unit price at which you wish to sale. After providing all the information save the data.

                    HOW TO RECORD RECEIPTS

To record receipts select RECEIPTS from the task menu

By clicking receipts following window appears on the screen. First select customer name with the help of look up button. Select the date of receipt, provide reference and invoice no , then write

·         Amount due

·         Amount paid

·         Due date

After writing all the necessary information click  save to proceed.

                            SALES/ INVOICING

After opening peach tree select sales invoicing from the task bar to record the invoices.

By selecting sales/invoicing following window will appear on the screen here you have to select customer id by using look up button, write the invoice no. Then select the item give the quantity of item, its unit price and shipment date after providing all the information save the data.

                   HOW TO MAKE PAYMENTS

After opening peach tree Select payment from the task menu

By clicking payments following window will appear on the screen

In this window provide all the information that is required .first select vendor id with the help of look up button then write 

·         Name

·         Quantity

·         Item

·         Description

·         Amount

·         Unit price

Then save all the data.

            HOW TO MAKE VENDOR CREDIT MEMO

Vendor credit memo is prepared to record the returns of items purchased previously.. To open vendor credit memo select the CREDIT MEMO from task bar.

By selecting credit memo following window appears on the screen

Then provide the required information...VENDOR ID…enter  or choose vendor id to link with this credit memo, Date, Credit no, quantity, item …select item with the help of look up button, Gl account, unit price, amount and then save this information.

How to Maintain Inventory Item

To maintain subsidiary ledger of inventory select INVENTORY ITEM from the maintain menu.

By clicking INVENTORY ITEM following window will appear.

Header fields of inventory item are located on the top of folder tabs. In this field we will provide short information of a item this include

·         Item id

·         Description

·         Item class (here we will select the type of item. Item class determines the costing method for that item and this cannot be changed once it is saved.)

After providing the desired information click save to proceed.

PURCHASE ORDER

In purchase order you save a purchase request of the items. When you save a purchase order you are not updating any accounting record these records are updated on the receiving of items.

To open purchase order click PURCHASE ORDER from the TASK MENU.

By clicking purchase order following window appears on the screen

·        In this window you will first select the VENDOR ID. Select your vendor by clicking look up button or add a new vendor by double click in the field.

·        After selecting vendor enter the PURCHASE ORDER NO then select the Date if it’s not today’s date then writes the date in the space provided.

·        Enter the date in the good thru field.

·        Enter the information regarding each item separately .this information consists of each items quantity, received, item, description, Gl account, unit price, amount.

·        After providing all the information save that data. 

How to maintain Vendor’s Account

After creating new company we will maintain subsidiary ledgers for account payable. We will maintain vendor account to save information related to the company from whom we purchase goods and services.

To open window click VENDOR account in MAINTAIN MENU

By clicking vendor following window will appear. This window provides us four tabs

•          General
•       Purchase default
•      Custom fields
•      History

The upper tab in maintain vendor window is know as HEADER. In this tab we will write VENDOR ID and NAME. For saving a vendor account the least requirement is vendor id, name and purchase account.

In GENERAL tab we will type basic information regarding our vendor contact no, address, account no(where you will send payment), vendor type. After providing all the necessary information click purchase default tab to proceed.

In SALES DEFAULT we will give information about Purchase Rep (employee’s name who act as a purchase rep for your vendor), Purchase Acct (a general ledger account used for the purchase purpose for your vendor), and Ship via (here we will select the shipping carrier that our vendor will use) and Terms( here you can select the basic terms and conditions or set your own)

The next tab is for custom field. In this tab you can add some extra information about your vendor.

To see the current history of your vendor’s account click on the history date .here you can see the

•          Last invoice date and amount.
•       Last payment date and amount

Default information for vendor

Information provided here applies to your entire vendors unless you specify it for a particular vendor. By maintaining this account your time can be saved and same information can be used many times. To open vendor default window select default information from maintain menu and click on vendor.

By clicking vendor default following wizard will appear. This window has four tabs

·         Payment terms

·         Account aging

·         Custom fields

·         1099 settings

The first tab is of PAYMENT TERMS. In this tab you will provide information about your payment terms.in the above tab payment terms are given on left side and these are

•      COD…..Cash on delivery
•      Prepaid…...choose this option if you pay in advance
•      Due in no days……select this option if you are going to pay your vendor after a specific no of days.
•        Due on day of next month….select this option if you are going to pay on a certain day of next month.
•      Due at the end of month……select this option if you are going to pay at the end of same month you are making purchases

 The next tab is of ACCOUNT AGING. Here you are provided with two options

•        Invoice date
•        Due date

The next tab is for custom field. On this tab you can provide extra information about your vendor.

How to Maintain Customer/Prospects

After setting up new company and its charts of account we will establish subsidiary ledger for account receivable. We will use maintain customer/prospect window to enter information related to the company whom you want to sale your goods and services or you can provide information about people with whom you want to do business.

To open the window click customer prospect in maintain menu.

By clicking on customer prospect following window will appear. This window gives us five tabs

·       General

·       Sales default

·       Payment defaults

·       Custom fields

·       History

The upper tab is known as “HEADER” here you have to write customer id and name. The minimum requirement for saving a customer account is customer id, name and general sales account.

In “General Tab”  we will provide information regarding customer contact, address where bill and shipment will be send, customer type…. You can categorize customer according to their type. For e.g. if a customer purchases in bulk you can give them a same customer type after Providing the required information we will click on sales default to proceed

By clicking on sales default following window appears. In sales default tab we will provide information about sales rep, General sales account, (you can select account by clicking on the look up button) purchase order no, shipping method (Here you can select shipping carrier you want to use for the customer), Resale no ( resale no are used by company’s who wants to sale and purchase taxable items) , level of pricing(you can select from various pricing level that are given),  Terms (you can opt for basic customer payment term or you can set different terms for your customer). After filling all these fields click on payment defaults.

By clicking on the payment default following wizard appears on the screen. Here we will provide payment details of our customer. We can change this information at proceeding stage if required. After filling all the fields given in this wizard select “Custom field” tab to proceed.

By clicking custom field following wizard appears. In this tab you can provide some other information about your customer. You can also add some extra information regarding your customer. An extra field is given for this purpose. The next tab is for history.

To see the current history of your old customer selects the “History Tab”. By selecting history tab following window appears.  In this tab you can see the last invoice date and amount, last payment date and amount and last statement date.

Default Information for Customers

Information in customer default applies to your entire customers until and unless you specify it for a specific customer. By maintaining customer defaults before adding a customer you can save your time as same information can be used for over and over again for majority of your customer.

To open customer defaults in peach tree select default information from the maintain menu and click customers from default information. Following screen appears by clicking customers.

By clicking customer default following wizard appears on the screen. This wizard provides  us five tabs.

·         Payment terms

·         Account aging

·         Custom fields

·         Finance charges

·         Pay method

In PAYMENT TERM tab you will provide information regarding your payment terms and conditions. In the above figure the standard terms for payment are given on the left hand corner that are,

·        COD

·        Prepaid

·        Due in no of days

·        Due on day of next month

·        Due at end of month

By COD wemean cash on delivery. You will select this option if payment is made when goods will be delivered.

Select the option of PREPAID if you receive payment in advance.

You will select the term DUE IN NO OF DAYS  if you are going to receive payment from your customer after a certain no of days. Here you will write net due in( no of days for which the payment is due), Discount in(if payment is made with in the days written here discount would be given), Discount( this field is for discount rate), Credit limit(you will set the credit limit for your customer if amount exceeds that credit limit you will receive a warning message).

The next term is DUE ON DAY OF NEXT MONTH. It means that you will receive payment from your customer on some specific day of next month.

The last term is DUE AT THE END OF MONTH. You will select this term if you want to get payment from your customer at the end of same month you are making sales.

                                    

The next tab is for ACCOUNT AGING. In this tab you will make provision for your Bad debts.

·        Select Invoice date if you want to make provision when sales were made and revenue was recognized in the books of accounts

·        Select Due date if you want to make provision for bad debts when invoice become due.

The next tab is for CUSTOM FIELD. Here you can provide extra information about your customer.

The next tab is for FINANCE CHARGES. By this we mean late charges once you have active finance charges you can set terms and conditions to calculate these charges. Here you will provide the following information.

·        On invoice date(grace days after which charges will be applied)

·        Days overdue up to $(amount on which interest will be charged after the grace period)

·        Annual interest rate

·        On balance above that(interest rate if balance will exceed)

·        Minimum finance charges(minimum amount that would be charged to a customer if the payment is late)

We will select late charges if we want this to appear on invoices.

The last tab is for PAY METHOD. It means that by which mode you are going to receive payment from your customer. You can add up to 10 methods for receiving payments.