Customer Defaults:

It is used to record your customer default information, most common information of your customers.

To set customer default information you can go to Maintain menu, click on default information and choose the Customers, as shown in the figure below:

After going to “customers” we will have a window like this:

As you see there are 5 important tabs shown on the above window, which are:

Payment terms, Account aging, Custom Fields, Finance charges and Pay methods.

Payment terms:

To give standard payment terms for your customer and default sales and discount G/L account, select the payment terms tab.

As shown in the above window there are 5 options in this tab which are C.O.D(cash on delivery), Prepaid, Due in number of days, Due on day of next month, Due at end of month. Select one of these to tell you the type of payment your customers make.

G/L Link Accounts

The defaults are used to link sales income and sales discount G/L accounts to most of your customers.

G/L Sales Account: Enter or select the account ID you want to use as the default sales (income) account when entering customers...

Discount G/L Account: Enter the number of the account you want to use for discounts.

NOTE: we must enter or fill these accounts, as we did and shown below:

Now click on 2^nd tab which is “Account aging” it is used to know that how sales invoices are aged and what aging categories is used for account receivables. The window is shown below:

In this tab of account aging 2 options are available which are:

1: Age invoices by

2: Aging categories

Age invoices by:

In this you can choose either “Invoice date” or “Due date”. If you age by invoice date, this will show how old each customer invoice and balance is. If you age by Due Date, this will show how overdue each customer invoice is.

Aging Categories:

In this option you can choose your own categories depending on which customer fall in what category. For example, entering 30 for the 1st column would display all current invoices 30 days late. Entering 60 for the 2nd column would display all invoices that are between 31 and 60 days overdue.

Now press on third tab which is “Custom fields” it is used to set custom field names for your customer records. It keeps track of your business information. It can be used to add extra information of your customer like shown below:

To enter information you should enable the box and enter the information like the last option in the above picture is not enable but if you want to enter data you check the enable box and enter the data like we did and shown below:

Now come the 4^th tab which is “Finance Charges”, In order to apply the finance charges, you have to check the check the box or you can set according to your own choice by applying it on the invoice according to your defined criteria. Like shown below in the figure:

In this tab you can fill according to your criteria as we did and shown below:

Maintain Customers/Prospects:

In order to enter, change, and store information about companies and people to whom you sell goods and services click on the “MAINTAIN” from this select the “Customers prospects”.

After clicking on “customers/prospects”, the following window will be appear in your screen,

In this window three things are very important; you should fill “Customer I.D”, “Name”, and “General information”. For each customer the information on the customer i.d sill be different we cannot allocate a single i.d to every customer or more than 1 customer.

In the general information we enter basic information about the customer such as Contact, address, phone and fax number etc. in the address option only 30 alphabets or numbers can be written in a line. In “Customer Type” we mention which type of customer he/she is according to our categorizations. This Customer account is a subsidiary ledger account which will be entered in sales revenue account. We enter basic information of our customer shown below:

Sales Defaults tab:

To set up unique sales transaction defaults for each customer record, select the Sales Defaults tab

The sales default tab is shown below:

After filling on required information we will move on next tab which is “Payment defaults”.

 Payment defaults: To set up customized receipt settings for each customer record, select the Payment Defaults tab.

If you have credit card transactions then this tab will be used.

Cardholder's Name: Choose the credit card you want to use as this customer’s default, and enter the name as it appears on the credit card in the Cardholder’s Name field.

Address: in this portion you can enter the address or your customer like country name, city state zip etc.

Credit Card Number: Allows you to enter a default credit card number to use for this customer. You can enter dashes, spaces, or slashes as separators.

Custom fields:

After filling required data, to enter custom field information for the selected customer record, select the Custom Fields tab, which is shown below:

Now, to display the selected customer's current history, select the History tab in the Maintain Customers/Prospects window.

 When entering a new customer, you can enter information on this tab; once you save the customer record, this tab is for display purposes only.

Customer Since: This is the date when you first made a sale to the customer.

Last Invoice Date: This is the date of the last invoice you sent to the customer.

Last Invoice Amt: This is the amount of the last invoice.

Last Payment Date: This is the date of the last payment you received from the customer.

Last Payment Amt: This is the last payment amount you received from the customer.

Last Statement Date: This is the date of the last statement you sent to the customer.

Beginning Balances for Customers:

After clicking on this button the page will be open of customers like shown below:

In this I will select 1^st customer who is “Ali & Co.”

If you have set up your company on an accrual basis, you must enter an A/R general ledger account.

Be sure that the total amount of your customer beginning balances is equal to the amount you entered as a beginning balance in your chart of accounts for your A/R accounts.

The Invoices for tab includes the following fields:

Invoice Number: Enter the number of the outstanding invoice. This is required.

Date: Enter the date the invoice was created.

Purchase Order Number: Enter the purchase order number, if any.

Amount: Enter the amount of the invoice.

A/R Account: Enter the A/R account for this customer's beginning balances if you are using the accrual method. If you are using the cash-basis method, you cannot enter an A/R account.

 Press ENTER to move to the next line, where you can enter another invoice.

When you're through entering invoices, select the Save button.

HOW TO OPEN SETUP OF EXISTING COMPANY?

To open setup of company which you have made in peach tree software, following steps are required:

1st of all open the software there will be a page like below:

There are 6 options as you want to open your existing company so click on “Open an existing company”. So there will be a page which is below:

If the company is on the page you can open from this but if your company is not there you can click on “Browse” to open another existing company. As you click on there will be a window like below is:

There are many drives like c drive is open in this page where different companies are available but our company is in z drive so we should open z drive by clicking on drives and selecting z drive option. We save in z drive for the sake of security.

In this page one thing is very important to remember that “z drive and Computerized accounting folder” should open and company name folder should remain closed. If company folder is open we can’t see our company on the page. To open existing company we must click on name of company like in this we lick on Unilever and our existing company window will be open which is below shown:

Maintain Chart of Accounts

Maintain Chart of Accounts

Now to form chart of accounts of your company you may proceed like this:

Select the “maintain” button and click on “chart of accounts” you will have a window of making chart of accounts of your company like shown below:

1^st of all there are 3 important things which are “Account I.D”, “Description” and “Account type”. In account I.D we put a specific number like 105 for “cash in bank” which is the description and to b written in description and account type should be clear like for cash in bank it should be “CASH” and for land it should be “FIXED ASSETS”. We should save it as we entering the data like after filling cash account we can save it by pressing “alt and save” together. If by mistake we put wrong Account type we can change them. After entering complete chart of accounts we can see them by clicking on the

 look up button. By clicking on this button we have view of chart of accounts like shown below:

If we enter the wrong I.D like for cash the account I.D is 105 but we enter 106 we can change them by pressing on the button “change I.D”

 then we have a box like this:

 In this we can enter new account I.D like for cash we put 105 and press “ok” it will be then changed.

We can also delete any account if it is entered by mistake but for this there should not be any beginning balance and transaction. There is a button like this 

   we can click there to delete required account.

If we are not wanted to use any account which is in the chart of accounts we can click on “inactive” button. Like for “petty cash” we click on inactive button the window is like this:

Now the petty cash account is inactive, it means we are not using this account. We should also save the changes by pressing “Alt & S” together.

Now when we prepared all the chart of accounts we can see the page by pressing on the “Reports”, which is on the window shown below:

In the reports we will press on “General Ledger...” and there will be open a page shown below:

In this we will click on “Chart of Accounts” we have a page of complete chart of accounts shown below:

As we inactive the petty cash so at petty cash row there is written “No” which means this account is not active. And all other are active so there is written “Yes”.

Now, we are going to enter beginning balance and record the transactions:

To enter beginning balance we should have “retained earning” account, if it is not present we can’t enter the beginning balance. As we have retained earning account so we can enter the beginning balance. For this we click on “beginning balance” there will be a box open which asked to select the period for entering data.

We select the month starting from 1/1/12 through 1/31/12.and press “OK”. We will have a window like this shown below:

In this we will enter the data like we enter the debit amount in cash account of Rs: 1000, if we not enter the same credit amount we will have a difference which will be shown by window like below:

But when we enter equal amount we will have “zero” balance showing by trial balance.

set up of a company

Setup of company:

To set a new company in Peach tree accounting, following points are required:

We click on set up a new company, and then introductory page will be open which is below:

This is an introduction of your new company in which you will be asked about 5 important steps and then press next to continue:

          

In this step you should fill your company information like name of your company, business type etc if you not fill the information it will not proceed after filling your company information click next. There will be a page of “Chart of Accounts” which provides several methods for setting up your company.

 There are 5 options 1^st two points will be used when you want to use chart of accounts from available accounts in this software.
 The 3^rd option is used when we want to copy settings of an existing company.
4th option is used when you want to change your company accounting program and the last option is used when you want to build your own company chart of accounts.
 If we select 1^st option which is “Set up a new Retail, Service, Construction, Manufacturing, or Distribution company, using a simplified chart of accounts” we have a page below:

In this we can select the type of our industry and may view chart of accounts by pressing the button of “View chart of accounts”. The charts of accounts are below:

After selecting one of the setup points, press next to proceed.

Then software provides you 2 accounting methods depending on your company to use which one. These methods are Accrual and Cash basis system.
 Accrual is used when transaction occurred irrespective of cash received and paid.
Cash basis system is used when cash received or cash paid. After selecting “Accrual” press “next” to proceed.

The software provides 2 posting methods which are REAL TIME and BATCH methods.
If we select “real time” our transactions are directly posted to the General Ledger and saved but in Batch method transaction are not directly posted but are saved by program after analyzing it will post to the journal. After selecting, press “next” to proceed.

This page shows the accounting periods. you can use “12 month accounting periods” and “accounting period that do not match the calendar months” depending on your company to use which one. After selecting press next to continue.

This page shows the monthly accounting periods depending on the financial year you want to choose.

suppose the 1^st month of entering data will be February 2010 then the financial year will start from Aprail2009 to March 2010.then press next to proceed.

Then there is Congratulation page which tell that you have completed the required information for setting up a Peachtree accounting company. Then click Finish to close the wizard and you will be able to create your company files.