Maintaining customers (Subsidery ledgers)

Entering customers:

You can enter the information of companies or people to whom you are selling goods, basically which are your customers. You can also enter the information of the companies with whom you want to do your business. You can save all the information about our customers, like their names, addresses, shipping info, mailing address, last date of sale, history, mod of payment and terms, beginning balance etc.. To enter the customers’ information open maintain tab then select option “customer/prospects”.

A following window will open:

 This window requires the following information:

·         Customer ID, Name, Contact, Address, Web site, E-mail etc. This basic information is required by the General tab.

Every customer will be allocated the unique and separate ID, which can not be given to any other customer. And it can not be repeated for any other customer. After this write the name of the organization from which you purchase the material for your company in the ‘Name’ portion. In the space of ‘contact’ you can either write the name of the person to whom you are contacting in the particular company or the post/designation of the person in that company. As shown in the following figure:

 This all information is to be filled in the general tab.

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Three things which are compulsory to record the information of the customer are

1.      Customer ID.

2.      Name.

3.      The general ledger sales account (in the Sales Default tab)

General:

From this tab you can save basic information about the customer such as contact information, address, phone and fax numbers, sales tax code, and beginning balances, email website, customer type and current balance of the customer.

Sales defaults:

This tab let us set up unique sales transaction defaults for each customer record. This tab requires the following information:

Sales rep: sales representative that has a contact with the customer.

G/L sales account: This is normally an income account. When selling inventory items to the customers, this account refers to the sales account and inventory account.

Open P.O #: This is the standard purchase order number for the customers.

Ship via: For delivery select that which shipping you are using.

Terms: From this option you select the discounting terms you gave to your customers.

In the option of G/L account select the sales account as shown in following picture:

Payments Defaults:

Payment default let you set up the customized receipt of the each customer’s record. From this tab you can give the information about the payment methods of the customers either by the cheque or credit cards. Give the information required such as the card holder’s name address city, zip code, country, credit card number etc.

Custom fields:

These are used to store specific information for each customer, for example the reference, from who’s reference has this customer contacted us, or how many more people have become our customers through this person, or any other unique information about a customer.

History:

The history tab tells you about the whole history of the customers which you have saved already. This includes that since when is he a customer, last invoice date, last invoice amount, last payment date etc. you can only view the information when you have saved it. You can not change this information once you have saved.

It tells you about the customer that from how many time he or she is your customer. What is the last invoice date? What is the last payment date? Etc. after providing all the information about the customer click on the button ’save’ in order to save all the data about your customer.

Changing customer ID:

Now if you have written down the ID of your customer incorrect, the correction can be made. To change the ID just open the list, select that customer. Then press the button Change ID which is at the top of the window. But one thing that is to be remembered is that the button of change ID will be activated only if the customer’s old ID is written in the Customer ID box. If the Customer ID box is empty the button will be inactive until the Customer’s old ID is written. As shown below:

When the customer’s old ID is written in the box, then the button will be activated as shown in the figure below:

When you will click the button of “Change ID” a window will appear. In that window the option of current customer ID will be inactive. You can only enter the new ID and click the button “OK”. The ID will be saved automatically you don’t need to press the save button.

Deletion of any customer Account:

An account can be only deleted only its beginning balance is not entered. If the transaction is recorded in any customer’s account then the account can not be deleted.

To delete any customer’s account, select that customer and press the button “delete”. After clicking on the button delete a new window will open confirming that you really want to delete this customer? Click on the button OK your customer account will be deleted.

Entering beginning balances to the accounts

Entering Beginning Balances: 

To enter the balances of last month press the button “begenning balances” from the chart of accounts window:

 A window will appear asking to select the month of the beginning balance. Select the previous month of from the current month. Reason behind this is that you have trial balance of the last month. Suppose this is the month of February when you are entering balances, select the month of January, because you have the trial balance of January.

After this window will appear, click the button ‘OK’ for further proceedings. After clicking the button ‘OK’ the following window will appear that will be mentioning the accounts name which you have made. In front of them there will be boxes in which you have to enter the beginning balances. Do remember that the balance of the asset and expenses side should be equal to the liability, equity and income side.

Now enter the balances in this screen:

Your trial balance amount should be equal to zero, and the balance of the assets & expenses side should be equal to the amount of liability, equity and Income side

Entering chart of accounts

Creation of chart of accounts:

To enter the chart of accounts, open the tab “maintain” from the upper bar of the window as shown below:

From this maintain bar select the chart of accounts:

The window of chart of accounts will open:

Enter the Account ID, Description and account type in their particular spaces as shown below:

Now if you want to save your account, press “Alt and key S” both at one time. Your account will be saved. The account type is already in the software. You just have to select them according to the particular account.

Once the chart of accounts is completed you can view them. To view chart of accounts press the sign "magnifier" that is in front of Account ID.

By clicking on the button of magnifying glass the whole list will appear as:

Changing the ID:

Now if you have mistaken any thing in your chart of accounts the correction can be made. If you have written the ID of any account wrong just open the list select that account. Then press the button "Change ID" at the top of the window. But one thing that is to be remembered is the button of change ID will be activated only if the account is written in the Account ID box. If the account ID box is empty the button will be inactive until the account is written. As shown below:

When the ID that is to be corrected- is written in the Account ID option, the button of the change ID will be activated. As shown below:

After clicking the button, the next window will appear as:

Enter the new ID and press the button "OK" your ID will be changed and saved also.

Deleting an account:

If you want to delete an account just select that account and press the button Delete from the upper bar.

When you will click on the Delete button the window will appear to conform that you really want to delete that account. After the window will appear click on the button “YES” your account will be deleted.

Inactive account:

If you have an account that is no more to be used you can inactive that account. To inactive any account, select that account and click the button "Inactive". The button inactive is in front of description.

 When you will inactive your account, for example petty cash account that will be shown in the list of accounts as [inactive account].

After clicking the option inactive do not forget to save your action by clicking on save button or “ALT+S”

Active or inactive accounts:

If you want to view that which account is active or inactive then follow the following steps.

Open the “Reports” tab and click the button “general ledger”.

When you will click the button general ledger the following screen will open. Click on the “chart of accounts” option from the “Report list” area.

When you will click on the option “chart of accounts” the list of accounts will open. In that list it will be mentioned that which accounts are active and inactive.

Open an existing company

How to open an existing company:

Open the software. The window will open, showing you the option of “open an existing company”. Click on this option to reopen the company which you have saved in peach tree software.

When you will click on the option “open an existing company” the next window that will open will show you the names of the company which are saved in your drive C. Just click on the company name the company will open. But if you have saved your company’s file in any other drive other than C and you want to open the company from that drive let suppose drive Z, so then click on the button “browse” from the following screen:

After clicking on the button browse, the following screen will open:

From the above mentioned screen on your peach tree accounting system, select your desired drive as an example Z:

All the companies which are saved directly in your Z drive will be shown in the left box named “Companies”. From there just select the company and click the button “ok”.

But if you have some folder in your Z drive and your company is saved in that folder then double click the folder visible in the right box named “Directories” the company will be visible in the left “Companies” box” from there select the company click the button “next” your company will open.

After clicking the button “ok” the following screen will be open:

Some things which are important to be observed:

When company is in another folder saved in drive:

When you click browse to open your company from the saved place, you select your drive as Z then make sure that the folder icon of drive should be open but the icon of the company should close as mentioned below:

Then you open the folder in which your company is saved. Till now that folder is closed.  When you click on the specific folder that will be open.

Setup of a company in peachtree

Setup of a company:
INTRODUCTION

To setup a new company in peach tree open the software. Following screen will appear

From this screen you can do following things:

1^st: You can maintain the records of an existing company.

2^nd: You can setup a new company.

3^rd: You can learn about peach tree accounting through an online tutorial.

4^th: you can explore a sample company.

5^th: Can convert the data from “Quick book” or “One-write plus company”.

6^th: You can close the window

Now if you want to setup a new company, from the above mentioned window screen click on “setup a new company”.

A wizard will start from this introductory window:

INFORMATION OF COMPANY

This window tells us that what things you are going to be asked. From the above window then click the button “Next” a new following window will open in which the information of the company will be required:

Fill the information which is required by the above window.

CHART OF ACCOUNTS 1

 After filling all the requirements click the button “Next” the following window will appear:

From this window you will select the chart of accounts for your company. There are 5 options for selection of chart of accounts. Whether you want to pick chart of accounts from the sample company the software has for an example. Or you can build your own chart of accounts. You can also pick the chart from software and can convert that in the peach tree. Another option is that you can select the accounts which are present in the software for different types of company. If we select the 1^st option then click the button “next” the following window will appear.

This window shows the available chart of accounts within the software for different companies such as Retail Company, Service Company and Manufacturing Company etc. select your company type from this window. In this window you can also view the chart of accounts the company you have selected. Just click on the button “View chart of accounts” a window will open containing the chart of accounts. Just as the option Retail Company is selected then clicks the button “next” the following window will open:

See the chart of accounts shown in the window. If they suits your company select them and click the button “next” for further proceedings. 

CHART OF ACCOUNTS 2

Now I am going back to select the 2^nd option by clicking the “back” the same window will open.

The 2^nd option is about the extensive charts of accounts. Select the option and then click “next”. The following window will open:

The window shows the names of the companies related to the services companies. Now again you can view the chart of accounts by clicking on the button “view chart of accounts”

CHART OF ACCOUNTS 3

Then again I am clicking back to view rest of the options. The 3^rd option is copy settings from an existing peach tree accounting company.

From this you can copy all the accounts and settings of the existing company. Click the button “next” the following window will open:

Here are three existing companies. In front of the companies there is a blank box. When you click on the view chart of accounts the chart of accounts of the selected company will appear in the blank box. Such as:

Select the desired company for your accounts and click the button “next” for further procedure.

I am clicking back to view the other options. The rest of the options are “convert the company from another accounting program or build your own company. The 2^nd last option means that you are having another accounting program instead of peach tree and you want to convert that in peach tree then you will select that option. If no chart of accounts are suitable for your company you can make them on your own. I am selecting the 1^st option first. By clicking on next button I will select my desired company such as the service company:

ACCOUNTING METHOD

Then click the button “next” the following window will open:

This window will ask you that what type of accounting method you want. There are two types of accounting methods as we know one is Accrual and the second is cash basis accounting system. Select your accounting method and click next. Do remember that once you have chosen your accounting method it can not be changed. 

POSTING METHOD

The next window will be:

The window is about the posting method. There are two methods peach tree accounting can use to process transactions, Real-time and Batch. In real-time transactions are posted in the general ledger as they are entered and saved. Most companies use this method. In batch method transactions are saved by the program and then posted in a group. This method allows you to print register and analyze the saved transactions before posting them in journal. Select the method you want and click next. I am selecting real time method. 

ACCOUNTING PERIOD

The next window will be:

This window asks you about the accounting periods. Accounting periods are units of time that divide your fiscal year for reporting process. In peach tree accounting, you can divide the fiscal year into as many as 13 periods. Most companies use monthly periods (where the units match the 12 calendar months). Select your accounting period and click “next”. If you have selected the 12 month accounting period then the following window will appear:

As you have chosen the 12 month accounting period the peach tree will automatically set up your first two fiscal years based on the information which you will provide to the software which is asked in the current window. When do you want your fiscal year to start? Select the month and date from which you want fiscal year to start. Then there is an option that “what is the first month you will be entering data? Select that month also and click “next”. The following screen will open:

This screen shows you the some defaults that have been set up by the peach tree software. You can change the settings, shown in the respective screen, at any time by selecting “Default Information” from peach tree Accounting’s maintain menu. 

COMPLETE

Click the button “Next” to complete your set up. By clicking next the following screen will open:

Now you have completed the required information for setting up a Peach Tree Accounting company. You can change the default options at any time in peach tree accounting. For example you may want to change a default setting to match your specific business needs. Now click the button “finish” so that the set up of your company can save. Without pressing finish button your company will not be saved.

This small window will appear after clicking the finish button. It means your settings are saving. After the completion of this process a new window will open that is:

Now you can maintain your accounting records on peach tree.

CHART OF ACCOUNTS 3

Now if we have selected the 3^rd option from the following window:

On clicking on the button “next” you will see the window in which the already existing companies will be given. By clicking on the “view chart of accounts” button you can see the chart of accounts of the selected company. Then you can copy the whole settings of that company to your own.

Now click the “next” button for further proceedings.

The above shown screen is telling you about the information that you are going to copy from the selected company. You can select the information you want to copy. Then by clicking the next you can complete the rest of the process. All the other process is same as discussed earlier.