How to maintain vendors accounts & Vendor Default Information

How to maintain vendors accounts

To maintain the vendors account this procedure will be followed.

Open the peach tree software and click the maintain tab:

You will see vendors at the second number.

Click the vendors the following window will appear:

In the header write the Account I.D of vendor and his or her name.

There are five tabs in the window as highlighted in the following window:

The first tab is General Tab. In this tab put the vendor’s contact, Account number, Address, country .It also require the type of vendor and other information such as telephone , Fax, and also the E-mail so that the information can also be give to vendor through telecommunication and internet. As shown below:

After putting the information in the general tab click the next tab.

The second tab is Purchase Defaults. In this tab write the Purchase the Representative’ name, Purchase Account Tax I.D Number. Also mentioned the Ship Via through which consignment is shipped.

Then click the next tab to proceed further.

This is the third tab Custom Fields. Write the required information in this tab. There are five levels to record the information .The last two tabs (4 and 5) are optional you can also enable them to record the extra details. You can also change the field levels according to your own choice. As shown below

Click the next tab to record the information.

History is the last tab of vendors.

• Vendor Since: Enter the date you first made a transaction with the specific vendor.
• Last Invoice date: Enter the date of last invoice you received from the vendor.
•  Last Invoice Amount:Enter the amount of last invoice list. 
• Last Payment Date: Enter the last date on which you paid the vendor.
•    Last Payment Amount: Enter the last amount you paid to the vendor.

At the end click the save button as highlighted in the circle to store the data of a specific vendor.

                                 Vendor Default Information

To change the vendor’s information go to maintain category as shown below:

Select the 3^rd last category of Default Information and the sub menu will appear:

In sub menu select the vendor’s option:

When we select the vendor’s option the following window will appear:

Vendor Defaults window has four tabs shown in highlighted circle in below:

First tab is Payment Terms, I this window we select the standard term as follow:

·       C.O.D (Cash on Delivery): its means payment is made on the delivery of consignment.

·       Prepaid: Its mean advance payment to the seller.

·       Due in number of days: means payment is made within the specific period of days and time will start when sales are made. This term includes:

 Net Days in, Discount in, Discount% and Credit Limit

As in the window 2/10, n/30 it means 2% discount is taken if payment is made in 10 days while the limit of payment is 30 days.

There are two other terms. It depends on you what payment term you select. You can limit the credit for vendors as shown in the circle.

At the bottom of the page give the GL Sales Account and Discount GL Account codes to record the transaction as shown below:

After that click the second tab Account Aging as shown below:

There are two methods to record sales information

First is Invoice date: it shows the date on which the sales were made.

Second is Due date: It shows the date within the payment is made.

                             Aging Categories

It shows 1^st column, 2^nd column, 3^rd column and 4th column

put the number of days in each column and create the column heading as shown in the below window:

After putting the information in the second tab click the third tab of Custom Fields see below:

In custom fields there are five field labels. You can put the information according to your requirements. The fifth label is optional if you want to enter extra information enable the fifth label and it shows enabled sign. As shown in the following window:

                  

Then click the next tab to put further information.

In this window put the required information as required. After that click the Ok button to save the information.