General Journal Entry

General Journal Entry

To record the adjusting and closing entries in peach tree. We  have to use “GENERAL JOURNAL ENTRY”. For this purpose we have to follow this producer:

First open the peach tree software and go “TASK” and select the “GENERAL JOURNAL ENTRY” as shown below:

After that the following window will appear:

In this window put the information that is required such as

Date, Reference, GL Account, Description, Amount of Debit, Amount of Credit and the job to record the transactions and then click the save button to save information.

Quotation and Sales Order Sales Invoicing

                                          Quotes

Quotes are the price lists in which specific amount of every product is written. It also contains the terms and conditions of the contracts.

TO record the Quotes given procedure will be followed:

First you go to the Task Bar and search the Quotes/sales Order and click the sub-bar and select the Quotes like that:

After clicking the quotes the following window will appear:

In this window select the Vendor ID to which you want to send the quotation .Write the Date on which you are writing the quotation and also the Goods Thru Date. Then write the quote No. After that put the quantity, Items, Description, Unit Price and amount. Such as:

And then save the information by clicking the save button.

                                            Sales Order

Sales Order means to sales the goods to the customers within the specified date.

To record the Sales Order go to the Task Bar click the Quotes/Sales Order and in the sub-bar select the Sales Order like that:

Click the Sales Order and the following window will appear:

Here put the information required in the window i.e. Customer ID, Date, Ship By Date (which you have to ship the order). SO Number and then the quantity, Items, Description, Unit Price and Amount and then save the data. Then click the save button.

How to convert Quotes into Sales Order?

To convert the quotes into sales order select the Quotes/sales orders from the Task. Such as:

The following window will appear:

Click the open button the following window will appear:

Here the select the quote you want to convert into sales order and press the OK button as shown below:

The quote you want to convert has been open now. Now click the convert button and the following window will appear:

To convert the quote into sales order select the sales order and write the invoice number in the Invoice #. And then click the OK to save the information.

                    Sales/Invoicing

To record sales invoicing open Peach tree Software and

go to Tasks and click on the Sales/Invoicing. Such as:

When you click on the Sales/Invoicing the following

window will appear:

Customer ID: Here first give the Customer ID from

whom you are selling. When you enter the customer id

the Apply to Sales:0.00 shifts to Apply to Sales

Orde:0.00. As shown below:

Date: Enter the date on which the sales are recording.

Invoice No.: Write the invoice number of the sales.

And then write the Items, Remaining items, Shipped Items, Description, Unit Price, and Amount.

At the end when the process is complete press the Save button to record the information.

And if there are some transactions of direct sales then open Apply to Sales:0.00 as shown below:

Here enter the Quantity, Items, Description, Unit Price and Amount and then Save the record.

Vendor Credit Memo

Vendor Credit Memo

     Vendor credit memo means to return the goods or a portion of goods to the vendor. To record the vendor credit memo open the Peach tree software and go to Task Bar.

   

 In Task Bar go to Vendor Credit Memo like that:

When you click on the Vendor Credit Memo the following window will appear:

This is how the Vendor Credit Memo looks like. Put the Vendor ID in the search bar to which you want to return the goods. When you enter the Customer ID, Apply to Purchases: 0.00 shifts to Apply to invoice:0.00.

Enter the Credit No, Quantity Items, Description GL Account and the unit Price. At the end saves the record.

Payment Procedure

Payment Procedure

When we receive the purchase order we have to make the payment of that purchase. So for doing that, First open Peach tree software and go to tasks as below:

Click the Tasks button and select the Payments as below:

When you click the payments button the following window will appear:

Vendor ID: In this window write the Vendor ID to whom the payment is made.

When you select the vendor the following window will appear:

In window Apply to Invoices: 0.00 will appear

Date: Put the date on which you are going to pay the vendor.

Cash Account Balance: This account shows the cash balance.

Cash Account:  Write the cash id.

Click the Pay Button and the payment will automatically transfer to the vendor. If you pay the amount within the discount limit then you will get discount.

Discount Account: At the bottom of the window you can see the Discount Account. If you avail it then write the ID in it.

After that all procedure to save this all information click the save button.

If you have not maintain the vendor then first maintain the vendor ID, Inventory Stock then again follow the above procedure,

How to save Purchase Order?

                        How to save Purchase Order?

To make purchase order this procedure will be followed.

First open the peach tree software and the following window will appear.

In this window you can see the Navigation Aids at the fourth step you can also select it from the right side of the window at fourth number. Select the navigation aid and the following window will appear.

This window consists of 7 tabs. As we want to make purchase order so here we select the second tab that is purchases. This tab is highlighted below:

Click the highlighted purchases button and the following window will appear:

In purchases window you can see the Purchase Orders below the write checks. Click on it and the following window will appear:

In this window fill the required information to maintain the Purchase Order.

Vendor ID: In this window first select the vendor id about which you want to maintain records. If you did not maintain the vendor id then double click on the vendor id tab and maintain the new vendor.

Date: Write the date on which you are going to order.

Goods Thru: It means the limit within which you want goods.

PO. NO.:  Its mean purchase order number it must be written otherwise order will be invalid.

Quantity: In this box put quantity you want to purchase.

Items: This means what type of goods you want to purchase.

Description: When you enter the items the description will automatically shown.

GL Account: Here select the general ledger account.

Unit Price: In this box you will write the per unit price of the product or item on which you are going to purchase.

Amount: When you put the per unit price and the quantity the amount column will automatically filled by multiplying the quantity and the unit price.

After putting all the required information save the data and to save this click the save button as highlighted below:

Purchase/Receive Inventory

In Purchase/ Receive Inventory we will maintain the records of those goods that received from the vendor.

To maintain the records go to the Tasks as highlighted in the circle.

 Click the Tasks and the following window will appear:

In this bar select the Purchase/Record Inventory and the following window will appear:

In this window give the vendor ID, Date, Invoice No. and the other necessary information. After completing the process click the save button to save the record.

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.