Getting Started Guide For Peachtree Complete Accounting ® RELEASE 7.
Registration and Technical Support Information To register your Peachtree Accounting product: To purchase a Peachtree Support plan: Internet web site 1-800-718-1592 1-800-247-3224 http://www.peachtree.com Copyright Information in this document is subject to change without notice. Company names, and data used in examples herein are fictitious unless otherwise noted.
Peachtree Software License Agreement The following states the license agreement that governs your use of this product. You acknowledge and accept this agreement by proceeding with the installation of this computer software from disks or CD-ROM. LICENSE PLEASE READ CAREFULLY THIS LICENSE AGREEMENT BEFORE CLICKING THE ACCEPT BUTTON BELOW. PROCEEDING WITH THE INSTALLATION OF THIS COMPUTER SOFTWARE INDICATES YOUR ACCEPTANCE OF THE TERMS OF THIS LICENSE.
Any modification of the Program by anyone other than Peachtree voids the foregoing warranty. NO OTHER WARRANTIES ARE EXPRESSED AND NONE SHALL BE IMPLIED. PEACHTREE DOES NOT WARRANT THAT THIS SOFTWARE IS FREE OF BUGS, VIRUSES, IMPERFECTIONS, ERRORS, OR OMISSIONS. PEACHTREE SPECIFICALLY DISCLAIMS AND EXCLUDES ANY IMPLIED WARRANTIES OF MERCHANTABILITY AND FITNESS FOR A PARTICULAR PURPOSE. SOME STATES DO NOT ALLOW THE EXCLUSION OF IMPLIED WARRANTIES, SO THE FOREGOING MAY NOT APPLY TO YOU.
• Table of Contents • Chapter 1 Introducing and Installing Peachtree Accounting Introducing Peachtree Complete Accounting Release 7 . . . . . . . . . . . . . . . . . . . 2 About This Guide. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2 System Requirements . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3 Contents of the Peachtree Accounting Package . . . . . . . . . . . . . . . . . . . . . . .
Table of Contents Getting Started Guide I’m not using a network now, but I plan to in the future. How should I install Peachtree Accounting? . . . . . . . . . . . . . . . . . . . . . . .25 I get an error message during installation that says it can’t read or copy a file. What should I do? . . . . . . . . . . . . . . . . . . . . . .25 I’m getting a message that says “Setup initialization error due to insufficient memory” or the message “Cannot find Status.dat” and/or “Options.dat.” How can I correct it? . .
Converting Data from other Products . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Peachtree Complete Accounting for DOS. . . . . . . . . . . . . . . . . . . . . . . . . . . Quicken. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . QuickBooks and QuickBooks Pro . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Chapter 3 47 47 47 47 Tutorials Lesson Plan . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Table of Contents Getting Started Guide Accounting Periods . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .83 Changing Accounting Periods . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .84 Review of Lesson III . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .86 Lesson IV—Accounts Payable. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .88 Beginning the Lesson . . . . . . . . .
Inventory Adjustments . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Maintaining Item Prices . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Review of Lesson VII . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Lesson VIII—Job Costing . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Beginning the Lesson. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Table of Contents Getting Started Guide vi Appendix A Converting Quicken Data to Peachtree Accounting Appendix B Converting QuickBooks Data to Peachtree Accounting Understanding the Conversion Process . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .214 Overview . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .214 Converting from Quicken 99 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
What QuickBooks Data Is Converted . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Field Comparison Lists . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Converting Address Fields . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Converting Company Information . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Converting Chart of Accounts . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
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Introducing and Installing Peachtree Accounting Introducing Peachtree Accounting About This Guide 2 System Requirements 3 Contents of the Peachtree Accounting Package 4 Contents of the Peachtree Accounting Compact Disc 4 Installing Peachtree Accounting Installing Peachtree Accounting 5 Installing Online Documentation 7 Installing Peachtree Accounting on a Network Network Considerations Installing on a Client/Server Network Installing on a Peer-to-Peer Network About Record and File Locking 8 8 9
1 Introducing and Installing Peachtree Accounting Getting Started Guide • Introducing and Installing Peachtree Accounting • Introducing Peachtree Complete Accounting Release 7 Welcome to Peachtree Complete Accounting—the award-winning accounting solution for small business success. Peachtree Complete Accounting contains all the powerful accounting features of Peachtree Accounting plus more complex accounting tools such as Job Costing, Fixed Assets and Time & Billing.
Introducing Peachtree Complete Accounting Release 7 System Requirements System Requirements To install Peachtree Accounting, you need the following hardware and software: • 100% IBM PC compatible computer with a 486 processor (or higher) • 12 MB (megabytes) of RAM (random access memory); 16 MB or higher is recommended • Microsoft Windows 95, Windows 98, or Windows NT 4 • Hard disk with the following free space requirements: Installation Component Diskette Install Compact Disc Install Peachtree Co
1 Introducing and Installing Peachtree Accounting Getting Started Guide Contents of the Peachtree Accounting Package The Peachtree Accounting software package includes the following items: • Peachtree Complete Accounting Release 7 Compact Disc For a complete description of the Peachtree compact disc contents, see the following section. Note: Diskettes are included in some upgrade versions of Peachtree Accounting, if requested. If you purchased a new product, only the compact disc version is included.
Installing Peachtree Accounting Contents of the Peachtree Accounting Compact Disc Installing Peachtree Accounting The following instructions explain how to perform a standard (or upgrade) installation of Peachtree Accounting. If you are using a network, refer to “Installing Peachtree Accounting on a Network” on page 8. 1 Turn on your computer and start Windows. Peachtree Accounting setup requires Windows 95, Windows 98, or Windows NT 4.
1 Introducing and Installing Peachtree Accounting Getting Started Guide 7 In the Select Peachtree Accounting Program Folder window, change the name of the Peachtree Complete Accounting program folder, if necessary. Click Next to begin installing. If you are installing from diskette, follow the prompts and insert additional diskettes as needed. 8 A final window displays, indicating the successful completion of installation. • Read: Select this to view the Peachtree Accounting Release Notes file.
Installing Online Documentation Contents of the Peachtree Accounting Compact Disc Installing Online Documentation Electronic versions of the Peachtree Accounting manuals are included on the Peachtree Accounting compact disc. To display or use these documents, you must have Adobe Acrobat 3 (or higher) installed on your computer. Use the following procedure to install Adobe Acrobat Reader and Peachtree Accounting online manuals.
1 Introducing and Installing Peachtree Accounting Getting Started Guide Installing Peachtree Accounting on a Network A network connects all types of computers and computer-related devices, such as hard drives, printers and CD-ROM drives. Computers that share devices with other computers are called servers. Peachtree Accounting comes network-ready and multiuser; it is ready to install on a network for use at your company.
Installing Peachtree Accounting on a Network Installing on a Client/Server Network Installing on a Client/Server Network Use the following instructions to install Peachtree Accounting on a client/ server network, such as Novell 4.x or above. Use the same instructions to install Peachtree Accounting on each workstation, specifying the server as the location for data files and the local hard drive as the location for program files.
1 Introducing and Installing Peachtree Accounting Getting Started Guide 6 The Select Location window displays. Enter a program and data path, then click Next. The default location or path for the program files is the directory PEACHW on drive C. We recommend leaving this path as the default to increase speed and performance. If the workstation you are installing does not have a hard drive, you will need to change this location to the network drive.
Installing Peachtree Accounting on a Network Installing on a Peer-to-Peer Network Installing on a Peer-to-Peer Network You must first install the software on the computer where data files will be located. This is probably the network administrator’s computer (the primary server). Then install Peachtree Accounting on each workstation, specifying the network administrator’s computer as the location for data files, and a local drive (usually C:) for the program files.
1 Introducing and Installing Peachtree Accounting Getting Started Guide 6 The Select Location window displays. Enter a program and data path, then click Next. Install the program and data files to the same path—the network administrator’s (or primary server’s) hard drive. The default location or path for the program and data files is the directory PEACHW on drive C. 7 A window displays for you to select which Peachtree Accounting components you want to install.
Installing Peachtree Accounting on a Network Installing on a Peer-to-Peer Network 3 Follow the onscreen instructions until the Peachtree Accounting Setup window displays. Review the installation instructions and select Next. 4 Read the Licensing Agreement and select Yes if you accept the terms. The Select Setup Type window offers up to four setup choices depending on if you are a new or previous user. 5 Select the Network setup type. 6 The Select Location window displays.
1 Introducing and Installing Peachtree Accounting Getting Started Guide About Record and File Locking If you install Peachtree Accounting to run on a network, sharing data with more than one person, you could have more than one person entering invoices, payments, orders, etc. for the same company at the same time. Peachtree Accounting uses Record and File locking to ensure that data is properly protected and updated. A record is one group of information, composed of related fields.
Installing Peachtree Accounting on a Network About Record and File Locking Record Locks A record lock prevents more than one user from working on the same data record, such as customer information, at the same time. This ensures that record information does not become jumbled, and changes are processed correctly. For instance, when you select Maintain Customers/Prospects and choose a Customer ID, Peachtree Accounting “locks” that record.
1 Introducing and Installing Peachtree Accounting Getting Started Guide When you attempt to perform any of these processes, if another user has the company open, even if only at the main screen, the following message displays: “You are attempting to access an area that another user is also using, or you are attempting to perform a process that requires single-user access. Please try again when no other users are attempting the same operation or accessing Peachtree Accounting.
What’s Next? Registering Peachtree Accounting What’s Next? Now that you have successfully installed Peachtree Accounting, you’re ready to get started using the program. One of the best ways to get familiar with Peachtree Accounting is to open the program and look around. If you need assistance starting the program or navigating within Peachtree Accounting, refer to the “Basics” chapter of the User’s Guide.
1 Introducing and Installing Peachtree Accounting Getting Started Guide 4 Enter the Registration Unlock Code. To obtain an unlock code, do one of the following: ➤ Call Peachtree Software toll free at 1-800-718-1592. International customers can call 612-906-3201. Please have your serial number, company address, and telephone number available before speaking with a Peachtree Customer Service representative. The Customer Service representative will then give you an unlock code.
What’s Next? Creating a New Company Exploring Sample Company Data Peachtree Accounting includes the following sample company data: • Bellwether Garden Supply. This is a retail and service company that demonstrates Peachtree’s extensive inventory and job tracking capabilities. The Peachtree Accounting system date is set at March 15, 2003. • Pavilion Design Group: This is a graphic service company that demonstrates Peachtree’s Time & Billing features.
1 Introducing and Installing Peachtree Accounting Getting Started Guide Converting Existing Company Data If you are upgrading from a previous release of Peachtree Accounting, First Accounting, or Peachtree Complete Accounting, you can convert existing company data to the new format and continue using it. ➤ To convert existing Peachtree company data, see “Upgrading from Previous Versions” on page 29 of this guide.
Peachtree Technical Support Converting Existing Company Data Peachtree Technical Support Help is as close as your phone, fax, or online computer. We make every effort to ensure that our software, online Help, and user manuals are as complete and easy-to-use as possible. However, questions sometimes do come up. If you require technical assistance, take a moment to read about various Client Support options included in the Peachtree Products and Services brochure that came with your software package.
1 Introducing and Installing Peachtree Accounting Getting Started Guide Before Contacting Technical Support There are a couple of options you need to try before contacting Peachtree Software Client Support: • Register your Peachtree Accounting product, if you have not already done so. • Read the section in the User’s Guide that documents information about the procedure you are doing, or refer to Peachtree Accounting’s online Help.
Uninstalling Peachtree Accounting Before Contacting Technical Support Note For printing errors, consider printing to an alternate printer to help isolate the problem. If you designed a custom report, form, or financial statement, try printing the standard (predefined) version. Also, open the sample company and try printing the same report, form, or financial statement. This helps determine if the problem is specific to your customized design or company data.
1 Introducing and Installing Peachtree Accounting Getting Started Guide Troubleshooting Installation Below are frequently asked questions that may help you resolve errors during or errors when starting Peachtree Accounting. Frequently Asked Questions When I attempt to install Peachtree Accounting, I received the error, “You must have full administrative rights to your computer.” What’s wrong? This message can appear on Windows NT and Windows 2000, especially if you are operating in a network environment.
Troubleshooting Installation Frequently Asked Questions I tried opening Peachtree Accounting, and received an error that read “Btrieve initialization failed due to invalid transaction file. Please delete the Btrieve.trn file, exit Windows and retry.” What happened? Btrieve, the underlying database structure used by Peachtree Accounting, has a limit of approximately 50 characters in the directory path name.
1 Introducing and Installing Peachtree Accounting Getting Started Guide I’m getting a message that says “Setup initialization error due to insufficient memory” or the message “Cannot find Status.dat” and/or “Options.dat.” How can I correct it? Peachtree either does not have enough memory to load these files or it cannot find the files to load. If Peachtree is on a network, check your network connections. You may have to restart your computer to establish the connection to remote network drives.
Troubleshooting Installation Frequently Asked Questions I’m starting Peachtree on a workstation across the network, and I’m receiving the message “Cannot open F:\PEACHW\STATUS.DAT or OPTIONS.DAT.” What do I need to do to correct it? Peachtree either does not have enough memory to load these files or it cannot find the files to load. First, check your network connections. You may have to restart your computer to establish the connection to remote network drives.
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Upgrading from Previous Versions Converting Existing Company Data Before You Begin 31 Starting the Data Conversion 31 Troubleshooting the Conversion 33 New Feature Conversion Issues Features in Release 7 that May Impact Conversion 35 Issues from Peachtree Complete Accounting Release 4 39 Issues from Peachtree Accounting Release 3.
2 Upgrading from Previous Versions Getting Started Guide • Upgrading from Previous Versions • Installing the Upgrade If you are upgrading from a previous release of Peachtree Accounting, Peachtree Complete Accounting, or First Accounting, install the updated program in the existing Peachtree Accounting directory (usually \PEACHW, unless you changed it to a different name during the previous installation). During the installation process, select the Upgrade setup option.
Converting Existing Company Data Before You Begin Converting Existing Company Data The company data conversion is used only for companies that used prior releases of Peachtree Complete Accounting (for Windows), Peachtree Accounting, or First Accounting. This process does not convert company data from Peachtree Complete Accounting for DOS. The MS-DOS conversion requires a separate utility available from Peachtree Software.
2 Upgrading from Previous Versions Getting Started Guide Warning We strongly recommend you make a backup before converting your company data to the new Peachtree Complete Accounting format. This way if something failed or there was a power outage, you could restore the backup and convert again. Also, it’s a good idea to back up your old company data to diskette which can be filed away for audit purposes.
Converting Existing Company Data Troubleshooting the Conversion Troubleshooting the Conversion Companies with large amounts of data could take a long time to convert. If you are sure the conversion has stopped before it is complete, but no error message displays, try these steps before calling Technical Support: 1 Restore your (existing) company data manually using the same method in which you backed up the data.
2 Upgrading from Previous Versions Getting Started Guide Troubleshooting Data Conversion on a Network If you are operating Peachtree on a Novell network and experience “Lock Table Full” errors, increase the maximum locks per connection on your network, then try the conversion process again. If this does not work or you are on a experiencing “Lock Table Full” errors on other networks when trying to convert data, copy your company data to a workstation and perform the operation directly on that workstation.
Conversion Issues Features in Release 7 that May Impact Conversion Conversion Issues This section contains important information if you are upgrading from an earlier version of Peachtree Complete Accounting, Peachtree Accounting, or First Accounting. For complete instructions on converting your company data, “Converting Existing Company Data” on page 35.
2 Upgrading from Previous Versions Getting Started Guide When user IDs and passwords are set up, Peachtree prompts you for a user ID and password when you open a company. If you know the password, you can access the areas of the program to which you have rights. Passwords from previous versions of Peachtree Accounting Releases 5 (or lower) are converted to user records in which the user ID and password are the same value.
Conversion Issues Features in Release 7 that May Impact Conversion Hide G/L Accounts Peachtree has added a new global option in which you can elect to not display G/L account fields on certain task windows. This allows simplified and faster data entry for common transactions. When the General Ledger accounts fields are not visible, it is assumed that the default accounts you have set up will be used when recording the transaction.
2 Upgrading from Previous Versions Getting Started Guide Peachtree Accounting Color Schemes You can choose from five color schemes that change the appearance of windows and dialog boxes used in Peachtree Accounting. Each scheme uses a different combination of colors. When you select a color scheme preference, this default affects all companies in the Peachtree Accounting data path that are accessed by this computer. You can change color schemes at any time.
Conversion Issues From Peachtree Complete Accounting Release 4 Time and Expense Ticket Descriptions You can now insert ticket or item descriptions easily when applying tickets to a sales invoice. There are two new fields to manage detail information in the Time Tickets and Expense Tickets windows. • Ticket Description for Invoicing: You can enter a short description describing the ticket in either the Time Tickets or Expense Tickets window. You can enter up to 160 characters.
2 Upgrading from Previous Versions Getting Started Guide Payroll Reports In Maintain Employees, additional fields have been added to the Pay Info tab. These new fields determine how the employee will be paid during payroll entry. Pay method replaces what was Pay Type option in previous version of Peachtree Accounting. An Hours Per Pay Period field has been added if you are paying the employee a standard number of hours per pay period.
Conversion Issues From Peachtree Accounting Release 3.5 (or lower) • The information entered on the purchase order will be identical to the original purchase invoice. Note that if you have printed copies of a previous PO, and the purchase invoice was later modified, the items on the new PO may be different than your printed PO. The advantage to this is the ability to reprint existing purchase orders.
2 Upgrading from Previous Versions Getting Started Guide Quotes If you entered customer quotes in the previous version of your company data, these are now accessed in the new Quotes task window. ➤ To edit previous quotes, or to create new quotes, from the Tasks menu, select Quotes/Sales Orders, then select Quotes from the submenu. For more information, see the “Accounts Receivable” chapter of the User’s Guide.
Conversion Issues From Peachtree Accounting Release 3.5 (or lower) Reports All your customized report and forms are updated to the new Peachtree Accounting format. In financial statements, Peachtree Accounting has added a new G/L Account Summary report. This report summarizes account activity over a period of time, essentially summarizing the General Ledger. It can be copied from the sample company, Bellwether Garden Supply.
2 Upgrading from Previous Versions Getting Started Guide Upgrading Inventory from Peachtree Accounting Release 3.0 Important Note: This section does not apply to users upgrading from Peachtree Accounting Release 3.5 or higher. Peachtree Complete Accounting Release 7 has a new, date-based system of inventory costing. This could cause slight differences in inventory-related general ledger accounts from previous periods, as reflected on previousperiod reports and financial statements.
Conversion Issues From Peachtree First Accounting If Your Inventory Valuation Report is Different in Peachtree Complete Accounting It is possible that the information on your Inventory Valuation Report will be different after conversion. Basically, this is because Peachtree Complete Accounting Release 7 has implemented a more accurate, date-based costing method.
2 Upgrading from Previous Versions Getting Started Guide Upgrading Payroll from First Accounting Release 1.0 If you are upgrading from First Accounting Release 2.0, this section does not apply. IMPORTANT: If you used payroll in First Accounting, when you convert to Peachtree Complete Accounting Release 7 before running payroll, you must complete the Payroll Setup Wizard in Maintain Default Information.
Converting Data from other Products Peachtree Complete Accounting for DOS Converting Data from other Products You can convert data from other products including Peachtree Complete Accounting for DOS, Quicken, and QuickBooks. Peachtree Complete Accounting for DOS You should use the default settings to install Peachtree Complete Accounting for Windows. Do not install Peachtree Complete Accounting for Windows over your existing Peachtree Complete Accounting for DOS directory.
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3 Tutorials Lesson Plan 50 Before You Begin 51 Lesson I—Getting to Know Peachtree Accounting 52 Lesson II—Basic Procedures 63 Lesson III—General Ledger 76 Lesson IV—Accounts Payable 88 Lesson V—Accounts Receivable 110 Lesson VI—Payroll 133 Lesson VII—Inventory 145 Lesson VIII—Job Costing 157 Lesson IX—Company Administration 173 Lesson X—Time & Billing 186
3 Tutorials Getting Started Guide • Tutorials • Whether you are new to Peachtree Accounting or an experienced user who wants to learn more about the new features, this chapter gives you hands-on practice using our sample company, Bellwether Garden Supply.
Lesson Plan Before You Begin Before You Begin In order to follow along with the tutorials, you must have Peachtree Accounting installed along with the sample company data files. If you chose the Standard or Upgrade setup option, the sample company data is installed and you are ready to begin. Peachtree Accounting includes the following sample company data: • Bellwether Garden Supply. This is a retail and service company that demonstrates Peachtree’s extensive inventory and job tracking capabilities.
3 Tutorials Getting Started Guide Lesson I—Getting to Know Peachtree Accounting This lesson helps you start, get to know, and move around Peachtree Accounting. You will become familiar with the terms used throughout Peachtree Accounting, as well as other Microsoft Windows programs.
Lesson I—Getting to Know Peachtree Accounting The Startup Screen The Startup Screen After you have entered the product serial number and registration access code, Peachtree displays the Startup screen. From the Startup screen, you can open an existing company, set up a new company, learn about the program through the online tutorial, explore the sample company used in these tutorials, or convert a QuickBooks company to Peachtree Accounting.
3 Tutorials Getting Started Guide Peachtree displays the Startup screen each time if the last company opened was Bellwether Garden Supply. Note Getting to Know Windows The following illustrates basic parts of a window.
Lesson I—Getting to Know Peachtree Accounting Getting to Know Windows Menus: When you select a heading from the Menu bar, a menu of options appears. You then select one of the menu command options available. You can select a menu option without using the mouse by holding down the a key and pressing the underlined letter in the menu option. For example, a+F opens the File menu. When a menu option is dimmed, either it doesn’t apply to your current situation, or is unavailable.
3 Tutorials Getting Started Guide Mouse pointer: This arrow-shaped cursor shows where you are on the screen when you have a mouse installed. Navigation Aids: These are unique Peachtree Accounting tools that offer you a graphical alternative to the Main Menu options. The major functions of the program are represented as icons or pictures that show you how tasks flow through the system. You can use the mouse to select an icon to perform the specific task you want. Navigating in Windows To... Do This...
Lesson I—Getting to Know Peachtree Accounting Navigation Aids What If You Don’t See the Navigation Aids? If you don’t see the Navigation Aids, it’s possible someone turned off this option. To turn it back on, select View Navigation Aid from the Options menu (you will see a check mark beside the menu option when it is turned on). 1 If the Action Items window is still open, close it by selecting the Close button. 2 Click the Payroll Navigation Aid.
3 Tutorials Getting Started Guide More Peachtree Accounting Terms Before you begin entering data into your Peachtree Accounting company, let’s look at some of the other common terms referred to in Peachtree Accounting and Windows. Let’s take a closer look at the Maintain Employees/Sales Reps window. ❶ ❸ ❹ ❽ ❷ ❺ ❼ ❻ ❾ ❶ Toolbar: The toolbar at the top of most windows shows graphical representations of commands and functions accessible from the window.
Lesson I—Getting to Know Peachtree Accounting Getting Help with Peachtree Accounting ❻ Drop-Down Lists: Fields that have lists of available information choices. These fields have an arrow beside the text box. Click the arrow button and make a selection. (You can also use the t key to highlight the arrow button and press e to open the list.) ❼ Date Boxes: Boxes in which you enter dates have a small calendar icon beside them.
3 Tutorials Getting Started Guide Note If you are new to using online Help, select “Using Peachtree Accounting Help” from the Contents tab of the Help menu. This gives you a basic overview on using the Windows Help engine. Using Peachtree Accounting Help The online Help is also a great reference for information in setting up a company. Let’s take a look at a list of the sample company charts of accounts included with Peachtree Accounting. 1 From the Help menu, select Contents and Index.
Lesson I—Getting to Know Peachtree Accounting Getting Help with Peachtree Accounting 5 Scroll through and select any sample business that interests you (for example, Construction Company). The selected company’s chart of accounts appears. 6 When finished, select Exit from the File menu (or click the Close button). You can also open Help from within an open Peachtree Accounting window. 7 Open the Maintain Employees/Sales Reps window. Select the General tab, and then press 1.
3 Tutorials Getting Started Guide Review of Lesson I Let’s review some of the things we learned in this lesson. • When you start Peachtree Accounting, you can optionally have the Startup screen display. This option can be turned off from the Options menu. • Press a and the underlined character to choose an option or to jump to a text box. On menus, you can press the underlined letter to select an option.
Lesson II—Basic Procedures Lesson II—Basic Procedures T This lesson introduces you to the basic procedures for entering data, editing records, and working with Peachtree Accounting information.
3 Tutorials Getting Started Guide Setting Up Tutorial Global Options You can set up preferences (global options) that customize how your Peachtree Accounting company data appears. These options affect each company displayed by the current computer. Other computers displaying Peachtree Accounting data may use an alternate set of options. We will set up options that impact these tutorials. 1 From the Options menu, select Global.
Lesson II—Basic Procedures Backing up the Sample Company Data 7 Select both options for Smart Data Entry. Make sure there are check marks in the “Automatic field completion” and “Drop-down list displays automatically” check boxes. 8 When finished, select OK to close the Maintain Global Options window. Most of these options will be explained throughout the tutorial lessons. Setting them up now will allow your display to match what the tutorial is using.
3 Tutorials Getting Started Guide Restoring the Sample Company Data If you are not the first person to use this tutorial, you must restore the sample company data to its original state. Open the company you want to restore. 1 From the File menu, select Restore. 2 Select the backup of the sample company data. (SAMPLE.ptb.) 3 Click the Open button to begin the restore process. The system displays the progress of the restore procedure.
Lesson II—Basic Procedures Entering Information Using Data Lookup Lists 1 To begin the lesson, from the Maintain menu, select Maintain Employees/ Sales Reps. Peachtree displays the Maintain Employees/Sales Reps window. First, let’s look at a list of existing employee IDs already entered in our sample company. 2 Select the magnifying glass button next to the Employee ID field. Alternatively, you can right-click your mouse in the Employee ID field or type ? while the cursor is in the Employee ID field.
3 Tutorials Getting Started Guide 3 Type your name and press e until the cursor moves to the Address field. 4 Type your street address information. There are two lines for the address, so you can enter an ATTENTION line or a PO Box number, if necessary. Press e to move to the next row of fields (City, ST Zip). 5 Type your city, state, and ZIP Code, pressing t or e after each. After the ZIP Code, move to the Country field. None of the other information is required.
Lesson II—Basic Procedures Editing a Record 3 Press e to skip the Employee Type option and move to the Address field. Notice that the field text is highlighted. Dorothy’s new address is: 3588 Atlanta Hwy. Apt. E-2 Atlanta, GA 30329-1209 4 Without using your mouse or pressing the D key, start typing 3588 Atlanta Hwy. Peachtree deletes the old text for you and adds your new text as you type. You can edit any text field in Peachtree Accounting using this method. 5 Press e and type Apt E-2.
3 Tutorials Getting Started Guide Displaying and Printing a Report Now that you have entered and displayed a list of employees, let’s print an employee list. If you do not have a printer currently set up, read along in the section, following as much as you can. 1 From the Reports menu, select Payroll. The Select a Report window appears. The Payroll program area is highlighted on the left-hand side. A list of payroll reports and forms are listed on the right-hand side of the window.
Lesson II—Basic Procedures Using Action Items ➤ From the Tasks menu, select Action Items. Entering a To Do Action Item 1 Select the To Do tab. 2 Click in the Notes column, on the next available line of the To Do list. 3 Enter a brief message, like Make flyers for new promotion and press e. 4 You can change the date if you like, but the default (automatically displayed date) is fine for our purposes.
3 Tutorials Getting Started Guide Entering an Event Action Item Let’s create an event to remind us of a meeting tomorrow with one of our customers. 1 Select the Event button. T 2 Select Customer/Prospect as the type of event. In the ID field, type FR (in capital letters) and press e. Peachtree Accounting automatically continues filling in the field with the Customer ID FREEMAN-01. The customer name below the ID field displays Freeman Enterprises/Darlene Freeman.
Lesson II—Basic Procedures Using Action Items Using the Action Item Log Action Items can be displayed in many areas of Peachtree Accounting. Let’s look at action items using a different method. 1 Close the Action Items window. 2 From the Maintain menu, select Customers/Prospects. The Maintain Customers/Prospects window appears. 3 In the Customer ID field, type FR and press e to display the Freeman Enterprises customer record.
3 Tutorials Getting Started Guide Choosing a Peachtree Accounting Color Scheme You can choose the colors that display in Peachtree Accounting windows. There are five color schemes from which to choose. The color schemes range from traditional Windows colors to bright vibrant colors similar to the Navigation Aids. 1 From the Options menu, select Global. The Maintain Global Options window appears. 2 Select the General tab.
Lesson II—Basic Procedures Review of Lesson II • If the cursor activates a field and the text is highlighted, you can simply start typing to change the field text automatically. • With the Smart Data Entry options turned on, Peachtree Accounting automatically displays ID codes for you based on partial data entry. • To close a window, press c+4, q, or select the Close button. • To close Peachtree Accounting, press a+4 or select Exit from the File menu.
3 Tutorials Getting Started Guide Lesson III—General Ledger Tu This lesson prepares you for setting up your company. You will learn how to set up and maintain your chart of accounts, the basis for the General Ledger. Next, you will learn how to enter a transaction that will post to the General Ledger.
Lesson III—General Ledger Working with the Chart of Accounts 5 In the General tab, do the following: • Make sure the Line Item Entry Display option is set to two lines. • Select both Smart Data Entry options by putting check marks in the “Automatic field completion” and “Drop-down list displays automatically” check boxes. You could have other global options selected as well. However, the above options are the only ones that directly affect this tutorial.
3 Tutorials Getting Started Guide After setting up the sample company, we noticed an error in our chart of accounts. We forgot to enter a $2000.00 money market fund created at the end of last year, and accidentally included the balance in our savings account. We want to first create an account for these funds. We can select any unused account number, but it is wise to stay within traditional account number ranges. For our sample company, all asset accounts are in the ten-thousand level (10000 to 19900).
Lesson III—General Ledger Working with the Chart of Accounts Before you leave this window, the Trial Balance should equal zero (in balance). If the Trial Balance is out of balance and you select OK (not recommended), Peachtree will make the correcting entry for you. Peachtree Accounting operates on a forced-balance trial balance. The trial balance must always balance or equal zero (Ø). This means the sum of assets and expenses must equal the sum of liabilities, equity, and income.
3 Tutorials Getting Started Guide What If You Are Out of Balance? Sometimes the trial balance may be out of balance. It’s a good idea to investigate this first and make the adjusting entries. However, if the reason cannot be determined, Peachtree Accounting will make a correcting entry to temporarily put you back into balance.
Lesson III—General Ledger Posting Transactions to the General Ledger 6 Select the Allocate button on the Budget This Year side. The $1800.00 is distributed over all accounting periods during the year, with any odd pennies being distributed to the last accounting period. 7 Select Save, and then select Close to close the window. Budget information can be viewed in financial statements and certain General Ledger reports.
3 Tutorials Getting Started Guide The General Journal contains transactions that establish and adjust account balances. It is used to transfer funds from one account to another or make correcting journal entries. If you make beginning balance entries or prior year adjustments in the Maintain Chart of Accounts window, Peachtree Accounting generates the entries for you and inserts them into the General Journal. Other examples include monthly accruals, asset depreciation, and end-of-year adjustments.
Lesson III—General Ledger Accounting Periods 5 Enter the following description: Transfer from Regular Checking to Payroll Checking and press e twice to move to the Credit field. 6 We are decreasing this account by $5000.00, so type 5ØØØ.ØØ and press e twice. We could have entered the debit for the payroll account first. However, it makes no difference. Notice that the Totals field in the lower right corner now displays 5000.00 beneath the Credit column of the table.
3 Tutorials Getting Started Guide If you do not see the status bar, turn on the option by selecting View Status Bar from the Options menu. Note Bellwether Garden Supply is set up with 12 accounting periods per fiscal year. The current accounting period is Period 3—3/1/03 to 3/31/03. If the current accounting period was February 2004, then the status bar would read Period 14—2/1/04 to 2/28/04. The date to the left of the current accounting period is the system date.
Lesson III—General Ledger Accounting Periods There are a couple of additional rules to consider when changing accounting periods. • All transactions currently entered in the General Ledger must be posted before you can change accounting periods. If you are using real-time posting, this is already done for you. If you are using batch posting, then you must post all journals before moving forward. (Our sample company uses real-time posting, so this rule does not affect us.
3 Tutorials Getting Started Guide 6 Select No when given the option to print reports. Peachtree Accounting checks for unposted entries and changes your accounting period. Notice the status bar now displays the current accounting period as Period 4—4/1/03 to 4/30/03. You can begin entering transactions for period 4 or later. You cannot enter new transactions dated prior to 4/1/03. For tutorial purposes, let’s change back to period 3 to prepare for the next lesson.
Lesson III—General Ledger Review of Lesson III • The General Journal contains transactions that establish and adjust the chart of account balances. It is also used to transfer funds from one account to another or make correcting entries. In the General Journal you distribute the debits and the credits. In other journals, Peachtree Accounting automatically distributes the entry for you. Make sure the Out of Balance amount equals zero (Ø), or you can’t post the General Journal entry.
3 Tutorials Getting Started Guide Lesson IV—Accounts Payable Tu In this lesson you will learn about entering vendors and using the accounts payable functions of Peachtree Accounting.
Lesson IV—Accounts Payable Accounts Payable Tasks 4 5 In the Accounting tab, do the following: • Select Manual Decimal Entry and enter 2 as the number of decimal places. • In the Hide General Ledger Accounts section, select Accounts Payable. Make sure the Accounts Receivable and Payroll Entry check boxes are clear (not checked). • Select the “Warn if inventory item is out of stock” option. • Select the “Recalculate cash balance automatically in Receipts and Payments” option.
3 Tutorials Getting Started Guide Maintain Vendors First we are going to select the vendor from whom we are going to order items. Then we will change one item of information—the discount percentage offered for timely payment. 1 From the Maintain menu, select Vendors. The cursor is in the Vendor ID field. The magnifying glass indicates a lookup box, which is a field with a lookup list attached. 2 With the cursor in the Vendor ID field, type a question mark.
Lesson IV—Accounts Payable Maintain Vendors Entering a Discount This vendor is offering our company a 5% discount for paying bills within 15 days of the purchase invoice date. This exceeds our standard vendor terms of payment for Bellwether Garden Supply, which is 2% in 10 days. However, we have been given this incentive because we are a good customer to them. 1 Select the Purchase Defaults tab.
3 Tutorials Getting Started Guide Entering a Purchase Order Purchase orders are used to place an order for items you intend to purchase from a vendor. When you post a purchase order, you do not actually update accounting information. In an accrual-based company, the accounting information is updated only when you receive the items on the purchase order through the Purchases/Receive Inventory window. 1 From the Tasks menu, select Purchase Orders. The cursor is in the Vendor ID field.
Lesson IV—Accounts Payable Entering a Purchase Order 3 We want to print the PO, so press e to move to the Date field. Dates The Date field defaults to the System Date. This date will print on the purchase order as the date you want to issue the purchase order. It does not represent the purchase invoice date or the date you may have entered the purchase order in the computer. Peachtree Accounting permits flexibility when entering dates.
3 Tutorials Getting Started Guide 6 In the first line, Type 12 in the Quantity field and press e. The cursor moves to the Item field. 7 Select the magnifying glass button to open the lookup list for inventory items. You can set up a list like this for your own products or services in the Maintain menu. See “Lesson VII—Inventory” on page 145. 8 As an exercise, select the Sort button from the inventory lookup list.
Lesson IV—Accounts Payable Printing Purchase Orders Saving and Posting Always save your entries before exiting a task window (in this case the Purchase Order window). The Post button is displayed because the sample company uses real-time posting. When you select the Post button, Peachtree Accounting saves and posts the purchase order. (You could also select the Print button here to both print the purchase order and post it to the Purchase Order Journal.
3 Tutorials Getting Started Guide 1 From the Reports menu, select Accounts Payable. 2 Scroll down the report list and open the Purchase Orders forms folder by double-clicking it. 3 Scroll down and single-click the PO Plain form to print a plain paper purchase order. If you purchased preprinted forms, you might select the PO PrePrinted form. 4 Select the Print button. The PO Plain filter window appears. 5 For tutorial purposes, assign the first PO number as 8111.
Lesson IV—Accounts Payable Purchases/Receive Inventory 1 From the Tasks menu, select Purchases/Receive Inventory. Notice the similarities with the Purchase Order window. The only major difference is the presence of the Apply to Purchase Order tab and Apply to Purchases tab. 2 • Apply to Purchase Order: When you select a vendor who has open purchase orders, this tab appears, allowing you to select which purchase order to receive items against.
3 Tutorials Getting Started Guide 3 Type 15777 and press e. In the date field, type 29 and press e. The date should format as Mar 29, 2003. The cursor moves to the Waiting on Bill from Vendor field. Since our shipment included the invoice, we can skip this field. 4 Press e five times. The cursor should now be on the Apply to Purchase Order tab. You should see a drop-down list displaying . This displays all the current open POs for the particular vendor.
Lesson IV—Accounts Payable Purchases/Receive Inventory Discount Information We began this lesson by changing the payment terms for Arbor Wholesale Suppliers. Let’s check the discount information for the purchase invoice we just entered. 13 Select the arrow button to the right of the Terms. This information is just below the Ship To address. The Date Due is the date by which the invoice should be paid.
3 Tutorials Getting Started Guide The Accounting Behind the Screens window displays journal entries that will be posted if this transaction is saved; it provides a preview of what will happen when the transaction is recorded. The default account that is selected for each line item is 12000— Inventory. This default comes from the inventory item list and or default information set up in Maintain Inventory Items. The accounts payable account also appears.
Lesson IV—Accounts Payable Payments Payments Typically, you would enter purchase invoices throughout the month so that you would have a record of what you owed. Then, at some later date, you pay the invoices. We are going to enter a payment for this purchase invoice. 1 From the Tasks menu, select Payments. You have the option of writing a disbursement check to a vendor or a customer. Usually payments are made to vendors. However, you might write a check to a customer when issuing a refund.
3 Tutorials Getting Started Guide 3 Press e to accept the vendor name and address. The cursor moves to the Check Number field. We are leaving the check number blank. When we print the check, Peachtree Accounting will then assign the next check number in sequence. If you enter a check number, Peachtree Accounting assumes you are entering a manual check or a previously-printed check, and will print the word “DUPLICATE” on the check if you choose to print it.
Lesson IV—Accounts Payable Payments Notice the amount box on the check form now displays $8.55. This is $9.00 minus the 5% discount we established earlier for Arbor Wholesale Suppliers. The amount box keeps a running total of the vendor invoice(s) you pay. You can only adjust the amount it shows indirectly, by entering payments in the Amount Paid field. In addition to Purchase Invoice 15777, you may see other outstanding invoices due for this vendor.
3 Tutorials Getting Started Guide Printing Checks You can print a batch of checks, or print checks individually, as you enter them (using the Print button on the Payments window). Because Peachtree Accounting prints a form for checks, you cannot choose to display the check. You can, however, print a check register prior to printing a batch of checks to ensure accuracy. 1 From the Reports menu, select Accounts Payable.
Lesson IV—Accounts Payable Printing Checks 9 The Print window appears. Confirm the print setup and select OK to print checks. After the disbursement check is printed, a message box displays asking if it printed properly. In real life, this is a very important question. When you answer Yes, Peachtree Accounting updates the check number and flags the check as printed, so it will not print again. 10 Select Yes. 11 Press q to close the Select a Report window.
3 Tutorials Getting Started Guide Display the Vendor Ledger Let’s display this vendor’s ledger to review the journal entries that we just made. 1 From the Reports menu, select Accounts Payable. 2 Select Vendor Ledgers, and then select the Screen button. This vendor uses a type code of SUPPLY. We will use this as a mask, limiting the report to only vendors with this type code. 3 Beside the Vendor Type in the Filter list, select Range in the Type column. 4 Type SUPPLY in the From and To columns.
Lesson IV—Accounts Payable Display or Hide General ledger Accounts Display or Hide General ledger Accounts To simplify data entry, you have the option to hide General Ledger accounts on various task windows. When the General Ledger accounts fields are not visible, it is assumed that the default accounts you have set up will be used when recording the transaction. However, you can still change G/L accounts, if needed, by selecting the Journal button, which displays the Accounting Behind the Screens window.
3 Tutorials Getting Started Guide For the remainder of these tutorials, the Hide General Ledger Accounts global option will not be activated so that you are exposed to all the Peachtree Accounting window elements. Review of Lesson IV Let’s review some of the things we learned in this lesson.
Lesson IV—Accounts Payable Review of Lesson IV • There are two ways to enter transaction lines in purchases (and sales): • By Inventory item: With line items set up through Maintain Inventory Items, you can keep track of items or services purchased or sold. Setting up these items also allows Peachtree Accounting to complete distribution entries for you to save you time.
3 Tutorials Getting Started Guide Lesson V—Accounts Receivable Tu In this lesson you will learn about entering customers and using the accounts receivable functions of Peachtree Accounting.
Lesson V—Accounts Receivable Accounts Receivable Tasks 5 In the General tab, do the following: • Make sure the Line Item Entry Display option is set to two lines. • Select both Smart Data Entry options by putting check marks in the “Automatic field completion” and “Drop-down list displays automatically” check boxes. You could possibly have other global options selected as well. However, the above options are the only ones that directly affect this tutorial.
3 Tutorials Getting Started Guide Quotes, Sales Orders, and Sales Invoices Quotes are proposals you give a customer detailing prices and terms for a possible sale. This is an optional accounts receivable task. Many times you have already established the sale. If so, you can skip this procedure and begin entering a sales order or invoice. Quotes can be converted into sales orders or invoices to save time.
Lesson V—Accounts Receivable Entering a Quote Invoice Modes Before we begin entering the quote, let’s take a moment to discuss the methods you can use to enter sales. There are two types of sales forms (Quotes and Sales Invoices) you can use based on the type of data entry required. With the Quotes window displayed, take a minute and observe the field layout. Notice the shipping information fields, the Item column, and the Template button on the toolbar.
3 Tutorials Getting Started Guide You could also double-click inside the Customer ID field to display the Maintain Customers/Prospects window. Let’s take a moment to look at the Maintain Customers/Prospects window. If you’ve just worked through Lesson IV—Accounts Payable, notice the similarities with the Maintain Vendors window. The information is subdivided into four tabs—General, Sales Defaults, Custom Fields, and History.
Lesson V—Accounts Receivable Entering a Quote 5 With the cursor in the Customer ID field, type ARMSTRONG-01 and press e. The cursor moves to the Name field. 6 Type Armstrong Manor and press e. Since this is a new customer and we are only entering a quote at this time, the customer is considered a prospect. Once an actual sale is recorded, the prospect can be converted to a real customer. Separating customers from prospects makes sorting and filtering reports easier to manage.
3 Tutorials Getting Started Guide 12 Select the Customer Type field with your mouse pointer. Type LAND and press e. 13 Select the Sales Defaults tab. Notice that the heading information— Customer ID and Name—stays the same. Customer defaults are set up during New Company Setup, including the default G/L Sales account. This default is assigned to all new customers unless otherwise specified. The current G/L Sales account 40000 (Sales) is the correct income account for this customer.
Lesson V—Accounts Receivable Proceed with Entering the Quote 5 Press ? to open the Item ID list. Scroll down and select AVRY-10150 (Bird Bath - Stone Gothic 2pc.). Notice the item list shows that we currently have 6 of these in stock (as of the quote date). Double-click the item to select it. 6 The sales item description is completed for you. Press e twice. The cursor moves to the Unit Price field.
3 Tutorials Getting Started Guide 14 Press e to accept the amount calculated. That is all the information we need at the moment to complete the quote. In real situations, you may charge freight when shipping items. However, our company will hand-deliver the bird bath since we are going to install it. The Quote Total should display $337.75. Now let’s print the Quote. 15 Select the Print Button. The Print Forms: Customer Quotes window appears. 16 Select Quote Plain Product, and then OK.
Lesson V—Accounts Receivable Editing the Sales Order 4 Peachtree displays a warning message telling us the quote is for a prospect. Select OK to convert the prospect to a customer. The Convert Quote window appears. There are three options at this point. You can convert the quote to a sales invoice to be printed later, convert it to a sales invoice and print it now, or convert it to a sales order. In real transactions this varies based on your company needs and the current situation.
3 Tutorials Getting Started Guide 2 Select the Edit button. Peachtree displays the Select Sales Order window. Double-click sales order 9001, for Armstrong Manor. The sales order appears. All the quote information displays in the sales order. One of our sales representatives has convinced the customer to buy eight bird house kits to place around the property. This needs to be added to the sales order. 3 Select the Add button. A new (third) transaction line displays.
Lesson V—Accounts Receivable Entering the Sales Invoice Entering the Sales Invoice We are ready to deliver and install the bird bath at Armstrong Manor. 1 From the Tasks menu, select Sales/Invoicing. The Sales/Invoicing window is similar in many ways to the Purchases window. Freight and Sales Tax fields have been added along with the presence of the Apply to Sales Order tab and Apply to Sales tab.
3 Tutorials Getting Started Guide 4 With the Date field selected, type 25 and press e. The date formats to Mar 25, 2003. 5 In the Apply to Sales Order tab, select 9001 from the drop-down list. 6 We plan to deliver all items ordered. Select the All button from the toolbar. If you started this tutorial with a clean copy of our sample company, Bellwether Garden Supply, you should receive the following warning message: 7 Press e to close the warning message. Look at the line items.
Lesson V—Accounts Receivable Entering the Sales Invoice We just demonstrated two methods of signaling that you are selling beyond the current stock level. Both messages are an optional setting in the Maintain Global Options window. Note • Global Out of Stock Warning Message: This message warns that you are selling one or more items that are out of stock when you select the All button. The item is not identified. The quantities (for items out of stock) in the Shipped column are set back to zero.
3 Tutorials Getting Started Guide Sales Transactions In an accrual-based company, most entries made in the Sales/Invoicing window are credits posted to the General Ledger. The offsetting debit is made to the Accounts Receivable account displayed on this Sales/ Invoicing window. There are also other accounts which might be affected including cost of goods and inventory.
Lesson V—Accounts Receivable Understanding Backorders 3 Scroll down and single-click on the Invoice Plain w/ Freight w/BO form. This will print a plain paper invoice that includes freight and backorder information. 4 Select the Print button. The Filter tab of the Invoice Plain w/Freight w/BO window appears. 5 Make sure the Unprinted Invoices option is selected. For tutorial purposes, assign the first invoice number as 9901.
3 Tutorials Getting Started Guide 1 From the Reports menu, select Accounts Receivable. 2 From the Select a Report window, scroll down, single-click the Sales Backorder Report, and click the Screen button. The Sales Backorder Report window displays with the Filter tab selected. To make things easy, we will generate a report for only one customer. 3 In the As of Date field, enter or select March 25, 2003. 4 Place your mouse pointer in the From field of the Customer ID filter line.
Lesson V—Accounts Receivable Entering a Cash Receipt Entering a Cash Receipt Now we are going to enter a receipt from Armstrong Manor for the amount we just invoiced. 1 From the Tasks menu, select Receipts. Notice the similarities between the Receipts window and the Payments window. There are a few differences including the addition of the Deposit ticket ID and Payment Method fields. The Check Number field in Payments is replaced by a Reference field in Receipts.
3 Tutorials Getting Started Guide 4 Type 101 in the Reference field for the customer’s check. This is a required field. Press e. The cursor moves to the Date Field. 5 In the date field, type 29 and press e. The date formats to Mar 29, 2003. The cursor moves to the Payment Method field. Peachtree Accounting allows you to enter up to 10 payment methods. These are set up in the Customer Defaults window. 6 Select Check from the Payment Method drop-down list and press e.
Lesson V—Accounts Receivable Analyzing Customer Payments Cash Receipts Transactions When you post this receipt, the accounts receivable account is credited for the full invoice amount. This balances the debit created when we entered the invoice. The cash account is debited (increased) by the amount of the check, and the sales discounts account is increased by any discount that might apply. (You establish the discount for sales by selecting Default Information from the Maintain menu, and then Customers.
3 Tutorials Getting Started Guide 2 Select the Bracket button. Here we see the age of the invoice in days, the customer name, the invoice number, the document date, (transaction date), the due date, the total amount due, and the option to print a collection letter. 3 Move the highlight bar using your arrow keys to an invoice with Ertley Bulldog Sports. Select the Source button. At this level, we see all the outstanding invoices for Ertley Bulldog Sports and their respective ages.
Lesson V—Accounts Receivable Review of Lesson V • While in a task window, you can enter a customer (or anything contained within a lookup box) on-the-fly by pressing + or doubleclicking the ID look-up field (except jobs). • Most ID codes in the program can be any combination of letters and numbers up to 20 characters long. You should establish a consistent, logical coding system, so others in your company will know how to code a new vendor/customer, or how to find a previously entered one.
3 Tutorials Getting Started Guide • In accrual-based companies, entering typical invoices debits the accounts receivable subsidiary, and distributes the offsetting credit to the applicable income and sales tax payable accounts. If inventory items are used, inventory accounts are credited and cost of goods sold accounts debited. • If you want to look at a graphical overview of all outstanding invoices from customers, use the Collection Manager’s Graph level.
Lesson VI—Payroll Beginning the Lesson Lesson VI—Payroll Tu In this lesson, you’ll learn about processing payroll with Peachtree Accounting.
3 Tutorials Getting Started Guide 5 In the General tab, do the following: • Make sure the Line Item Entry Display option is set to two lines. • Select both Smart Data Entry options by putting check marks in the “Automatic field completion” and “Drop-down list displays automatically” check boxes. You could possibly have other global options selected as well. However, the above options are the only ones that directly affect this tutorial.
Lesson VI—Payroll Default Information Default Information Default information is an important part of running your business efficiently with Peachtree Accounting. Setting up default information allows you to enter data easily while also being consistent. 1 From the Maintain menu, select Default Information, and then Employees. The Employee Defaults window displays four folders. Each area allows you to set up standard information that will make your payroll processing as automatic as possible.
3 Tutorials Getting Started Guide Payroll Fields Using payroll fields, you can track 401(k) contributions, tips, employee taxes, and employer taxes. You can even set up non-dollar amounts, like vacation hours, to be updated each pay period. Payroll fields are holding places for any amount that must be updated by payroll processing.
Lesson VI—Payroll Maintain Employees Maintain Employees In Default Information, you indicate the general guidelines for processing payroll for the whole company. In Maintain Employees, you give specific guidelines for individual employees. 1 From the Maintain menu, select Employees/Sales Reps. We’re going to look at two employees—one hourly and one salaried— and then enter paychecks for each. 2 Select the lookup button beside the Employee ID field. 3 From the list, double-click MWANG-01—Michelle Wang.
3 Tutorials Getting Started Guide 6 Move the cursor back to the Employee ID lookup list, if it’s not already there. 7 Select employee DGROHS-01—Derrick Grohs. Select the Pay Info tab again. Compare this employee to Michelle Wang. Derrick Grohs is a salaried employee paid $1346.15 every two weeks. 8 Press q to close the window. Payroll Entry As we proceed to enter paychecks for these two employees, remember the kind of information stored in Default Information, and in the Maintain Employees file.
Lesson VI—Payroll Payroll Entry 4 Accept the check Date displayed (3/15/03) by pressing e. The Hours Worked, from the Maintain Employees window, are listed in the bottom left of the window. The hours can be adjusted for this paycheck, if necessary. Notice that all the Employee/Employer Fields entered in the Default Information display in the bottom right of the window.
3 Tutorials Getting Started Guide Using the Payroll Register After you have entered paychecks in payroll entry, look at the postings for accuracy before you print the checks. The Payroll Register is an excellent report to use before you print checks. 1 From the Reports menu, select Payroll. Peachtree displays the Select a Report window. 2 Select Payroll Register, and then select the Screen button. 3 In the Filter tab, select the Date drop-down list.
Lesson VI—Payroll Print Paychecks 9 Select Post to save the change. 10 Select Close to close the Payroll Entry window. You return to the Payroll Register report window. Notice the report reflects your change. We have just demonstrated that you have the ability to edit transactions from reports and have the reports update for you at the same time. Note Not all reports have the drill-down feature.
3 Tutorials Getting Started Guide 7 Select OK to print the checks. 8 The Print window appears. Select OK if the printer settings look correct. A window appears, asking if the checks printed properly and if it’s okay to update the journal. In real life, always look carefully at the checks before you answer Yes because Peachtree Accounting updates check numbers and flags these checks as printed. 9 Select Yes. Take a moment to look at the two checks you just printed.
Lesson VI—Payroll Analyzing Employee Earnings Analyzing Employee Earnings At the end of a period, quarter, or year, typically you need to examine the accrued employee earnings. You may need to track certain payroll fields for one reason or another. These reports also detail what is printed on your 941 forms as well as W-2s. 1 From the Reports menu, select Payroll. 2 Scroll down and double-click the Quarterly Earnings report. Peachtree displays the Quarterly Earnings report.
3 Tutorials Getting Started Guide • Double-clicking transaction lines in reports displays the Task window where the transaction was originally entered. This is referred to as the drill-down feature. One advantage is you can edit the transaction, save/post it and return to the report. The report automatically updates. The majority of task-related reports and ledgers contain the drill-down feature; maintenance list reports do not.
Lesson VII—Inventory Beginning the Lesson Lesson VII—Inventory Tu This lesson shows you how to implement and use Peachtree Accounting’s inventory system. You will learn how to: • Set up an inventory item • Use inventory with purchases • Use inventory with sales • Use inventory reports • Make adjustments to inventory levels • Maintain item prices Estimated Lesson Time: 20 Minutes Beginning the Lesson If you are continuing from Lesson VI, skip this section and proceed with the lesson.
3 Tutorials Getting Started Guide 5 In the General tab, do the following: • Make sure the Line Item Entry Display option is set to two lines. • Select both Smart Data Entry options by putting check marks in the “Automatic field completion” and “Drop-down list displays automatically” check boxes. You could possibly have other global options selected as well. However, the above options are the only ones that directly affect this tutorial.
Lesson VII—Inventory Tracking Inventory Items 1 From the Maintain menu, select Inventory Items. T Our new product is Violet Seeds. 2 Enter SEFL-31180 in the Item ID field and press e. The cursor moves to the Description field. 3 Type Violet Seeds and press e. The cursor moves to the Item Class drop-down list. Stock item is the default type. 4 Make this a stock type item by pressing e. The cursor moves to the Description field.
3 Tutorials Getting Started Guide 8 Type 1.39 in the Sales Price #1 box, and then select OK to set the sales price per ring to $1.39. 9 In the Unit/Measure field type Packet and press e. The cursor moves to the Item Type field. The Item Type is a way of classifying similar inventory items for sorting and printing in reports. All type fields are case sensitive. The program reads Supply, SUPPLY, and supply as being different types. Note 10 Type SUPPLY to classify the violet seeds as a supply item.
Lesson VII—Inventory Tracking Inventory Items 12 Move to the Cost Method field. Peachtree Accounting offers three costing methods to track your stock and assembly items in inventory: • Average Cost • Last In First Out (LIFO) • First In First Out (FIFO). Always select the same method for each item in your inventory. Check with your accountant about the implications of changing this method. It should only be changed at the beginning of the fiscal year.
3 Tutorials Getting Started Guide 16 Type 12 and press e to move the cursor to the Preferred Vendor ID field. You can specify a primary vendor for a stock item. This is only used to track your recommended or usual vendor. You can still purchase items from other vendors. 17 Type ARBOR-01 for the vendor and press e. 18 Press 5 to save this inventory item, and press q to close the window. Inventory and Purchases Now let’s purchase the item from our vendor.
Lesson VII—Inventory Inventory and Sales Inventory and Sales When you sell a stock-type item, Peachtree Accounting updates accounts receivable and computes the cost of goods sold, using the selected costing method. In the General Ledger report, entries are made which update accounts receivable, revenues, inventory, and cost of goods sold accounts. Peachtree Accounting also displays the inventory and cost of goods sold distributions in a separate Cost of Goods Sold Journal for tracking purposes.
3 Tutorials Getting Started Guide Cost of Goods Sold When you post a sale, Peachtree Accounting records the cost of goods sold and posts the normal sales distribution (in an accrual-based company). The program tracks the cost of all stock-type inventory items purchased, based on the costing method you chose for the item. Now, at the time of sale, the product cost times the quantity sold is credited to the inventory account and debited to the cost of goods sold account.
Lesson VII—Inventory Maintaining Item Prices 6 Type -1 in the Adjust Quantity By field to decrease the current inventory level by one, and press e. The New Quantity field shows that you now have 1 book. 7 Type Item missing as the Reason to Adjust. 8 Post this adjustment, and then close the window. When you make an adjustment, the G/L Cost of Goods Sold account, G/L Inventory account, total inventory value, and quantity on hand are all updated.
3 Tutorials Getting Started Guide 1 From the Maintain menu, select Item Prices. The Maintain Item Prices - Filter Selection window appears. To mark up the seeds by 10%, we are going to filter by item ID. Notice the Item ID category in the Filter column. 2 Click your mouse pointer in the Type column next to Item ID. Select Range from the drop-down list. 3 Press e to move to the next column, and then type SE. The item IDs for seeds all begin with the letters SE.
Lesson VII—Inventory Maintaining Item Prices 5 Click the lookup button in the To column. Scroll down the list and doubleclick SEVG-33270 (Watermelon Seeds), and then select OK. 6 In the “Mark up or down selected items by” field, select Percent. 7 Press e to move to the next field where you can enter the percent by which you want to mark up the items. Type 10 and press e again. Since we want to mark up all price levels of all seeds based on the current price, we can keep the default settings.
3 Tutorials Getting Started Guide Review of Lesson VII Let’s review some of the things we learned in this lesson: • For Stock Type inventory items, Peachtree Accounting tracks costs, quantities, descriptions, sales prices, minimum levels and reorder quantity. For non-stock, labor items and service items, the program tracks descriptions and sales prices. For description-only items, the program only tracks the description.
Lesson VIII—Job Costing Beginning the Lesson Lesson VIII—Job Costing Tu This lesson teaches you how to implement and use Peachtree Accounting’s job costing system. You will learn how to: • Set up a job • Use phases and cost codes • Use job costing with purchases • Use job costing with payroll • Use job costing with sales • Use job costing reports Estimated Lesson Time: 30 Minutes Beginning the Lesson If you are continuing from Lesson VII, skip this section and proceed with the lesson.
3 Tutorials Getting Started Guide 5 In the General tab, do the following: • Make sure the Line Item Entry Display option is set to two lines. • Select both Smart Data Entry options by putting check marks in the “Automatic field completion” and “Drop-down list displays automatically” check boxes. You could possibly have other global options selected as well. However, the above options are the only ones that directly affect this tutorial.
Lesson VIII—Job Costing Setting Up a Job Each job you set up in Peachtree Accounting can have up to three elements: phases, cost codes, and cost types. For more information on these elements, refer to the “Job Costing” chapter of the User’s Guide. For this tutorial, we are going to set up a job which uses phases and cost codes. Then we will enter a purchase and assign the transaction to a particular phase. Next, we will enter a payroll transaction and assign labor and a cost code to a second phase.
3 Tutorials Getting Started Guide 2 In the Job ID field, type ? and select HENSLEY-01 (Hensley Park Landscape). This is a job still in progress. Notice the percentage of completion is currently set at 40%. It is also set up to use phases, which will be explained in a moment. 3 Select the Estimated Exp./Rev. tab. The estimated expense and revenue is currently established for this job. It is broken down by phase ID and cost code ID for phases that use cost codes.
Lesson VIII—Job Costing Setting Up a Job 5 Select the Edit button from the Phase ID lookup list. This Design phase does not use a cost code, so a cost type is established for the phase itself. 6 If you want to examine the current cost types, select the Cost Type dropdown list. 7 Click the lookup button in the Phase ID field again, but this time select 03Nursery from the list. Notice that this phase uses cost codes. The cost type is set up with the cost code itself in the Maintain Costs window.
3 Tutorials Getting Started Guide 10 With 010 Labor selected, select Edit from the lookup list to examine this cost code. The Maintain Cost Codes window appears. Notice this cost code uses the cost type of Labor. 11 Press q to return to the Estimated Exp./Rev. tab. Job Estimates You can create estimates for revenue and expenses of a job. These can be broken down into phases and cost codes. These items help you calculate the job’s profitability.
Lesson VIII—Job Costing Setting Up a Job 18 Select the Custom Fields tab. These field labels are established in the Job Defaults window. (From the Maintain menu, select Default Information, and then Jobs.) You could enter unique information that applies to this job. For tutorial purposes, we will not change these fields. 19 Select the Estimated Exp./Rev. tab. Enter the estimates similar to the following: 20 Select Save to establish the new job, and then close the Maintain Jobs window.
3 Tutorials Getting Started Guide Job Costing and Purchasing Before we can begin work on Torrance Country Club, we will purchase a building permit from the county licensing board. Purchasing Inventory Items for Jobs An important point here is that you cannot purchase stock items or assemblies and apply them against a job. You can, however, apply non-stock, labor, or service items to a job. You can also record the purchase without using inventory; you would just include a description of the item.
Lesson VIII—Job Costing Job Cost and Payroll 7 The total purchase cost of the permit is $75.00. Type 75.00 and press e to move to the Job field. 8 Type ? to display the Job lookup list. Jobs with a folder indicate that phase codes and or cost codes are used. Jobs with just a “J” do not use phases or cost codes. 9 Double-click the TORRANCE-01 job folder to open it up and display the list of phases that you can apply to the job. Phases with folders indicate that the job phase contains cost codes.
3 Tutorials Getting Started Guide 4 Select the Jobs button. 5 Select the Add button to add a distribution line. 6 Click your mouse pointer in the Job field of the line that was just added, and then click the lookup button. The Job ID lookup list appears. 7 Double-click the TORRANCE-01 job folder. We will use another phase to record the labor of the landscaping project. 8 166 Scroll down and double-click the 03-Nursery phase folder, and then doubleclick 010-Labor.
Lesson VIII—Job Costing Job Costing and Sales 9 Type 20.00 regular hours worked on this job and press e. You could select the Add button again to add another distribution line if, for instance, the employee worked on another job during this payroll period. 10 Select OK to return to the Payroll Entry window. 11 Post the paycheck. 12 Press q to close the window. Job Costing and Sales We’re going to invoice Torrance Country Club for the landscape work so far. 1 From the Tasks menu, select Sales/Invoicing.
3 Tutorials Getting Started Guide 4 Select the Apply Tickets/Reimbursable Expenses button, and then select the Reimbursable Expenses tab. Reimbursable Expenses display for this customer, Torrance Country Club. All purchase and payroll transactions that have been applied to the selected customer’s job display in this window. All transactions for other jobs using this customer will also display.
Lesson VIII—Job Costing Job Costing and Sales 5 Select the Use button to display the Select Reimbursables to Use window. You could select a series of reimbursable transactions by job, item, or date range to apply to this invoice. For our example we will select All. 6 Accept the All option in the Select Reimbursables to Use window by selecting OK. You could change the invoice amount of each transaction to apply your own markup. However, there is an easier way to accomplish this.
3 Tutorials Getting Started Guide 9 Click the lookup button in the Job field. The Job ID lookup list appears. 10 Double-click the TORRANCE-01 job folder. 11 Scroll down and double-click the 03-Nursery phase folder, and then doubleclick 010-Labor. You return to the Select Reimbursables to Write Up/Down window. 12 Select the “Write lines up/down by percent” option. 13 Type 75.0 in the % field for a 75% markup and select OK. You return to the Reimbursable Expenses window. The $280.
Lesson VIII—Job Costing Job Cost Reports Job Cost Reports Now let’s look at a report that will tell us how we’re doing with our job. Note that the job is still incomplete. 1 From the Reports menu, select Jobs. Peachtree displays the Select a Report window. 2 Single-click the Job Profitability Report, and then select the Screen button. The Job Profitability Report window appears with the filter tab selected.
3 Tutorials Getting Started Guide Review of Lesson VIII Let’s review some of the things we learned in this lesson: • Peachtree Accounting helps you track job costing with easy options that can be used at a simple or detailed level. Before setting up a job, you have to determine how you want to use your job costing process. Peachtree Accounting offers the following options to track in job costing: • Jobs only: You require simple jobs in which you intend not to track stages or specific kinds of cost.
Lesson IX—Company Administration Beginning the Lesson Lesson IX—Company Administration Tu This lesson shows you how to implement various administrative functions in Peachtree Accounting.
3 Tutorials Getting Started Guide 5 In the General tab, do the following: • Make sure the Line Item Entry Display option is set to two lines. • Select both Smart Data Entry options by putting check marks in the “Automatic field completion” and “Drop-down list displays automatically” check boxes. You could possibly have other global options selected as well. However, the above options are the only ones that directly affect this tutorial.
Lesson IX—Company Administration Memorized Transactions Displaying a Memorized Quote 1 From the Maintain menu, select Memorized Transactions, and then select Quotes. Peachtree displays the Maintain Memorized Quotes window. The Maintain Memorized Quotes window looks similar to the Quotes window selected from the Tasks menu. However, two new components display that are used to identify the memorized transactions: • Transaction ID: This is a code used to identify the memorized transaction for later use.
3 Tutorials Getting Started Guide Using a Displayed Memorized Transaction 3 With the Lawn Care Service memorized quote displayed, select the Use button. The Quotes window appears and the memorized transaction information is applied. You can now enter a customer ID, quote number, date, and other unique information. 4 Press q twice to close both the Quotes window and the Maintain Memorized Quotes window. When asked if you want to save the information, click No.
Lesson IX—Company Administration Memorized Transactions Saving a Transaction as a Memorized Transaction You can also save a displayed transaction as a memorized transaction. 1 From the Tasks menu, select Payments. The Payments window appears. 2 Enter or select SAFESTATE-01 (Safe State Insurance Company) as the Vendor ID. 3 With the Apply to Expenses tab selected, type Truck Insurance Premium in the first Description field and press e. Type 540.00 in the Amount field and press e.
3 Tutorials Getting Started Guide 8 When finished, select Save to record the memorized transaction. You can now use this memorized payment any time you want to pay the insurance company. You can even change the amount if it goes up or down. 9 Press q twice to close the Maintain Memorized Payments and Payments windows. Select No when asked if you want to save the payment in the Payments window. User IDs and Passwords Peachtree Accounting allows custom access for different users.
Lesson IX—Company Administration User IDs and Passwords 3 Type admin as the user ID and press e. 4 Type peach as the password and press e. Notice that the “Access to Maintain Users” check box is disabled (gray and unavailable). The first user you set up in Peachtree Accounting must have the “Access to Maintain Users” option selected. Typically, the first user would be an administrative user who needs access to all areas included the Maintain Users window.
3 Tutorials Getting Started Guide 10 Select the Inventory tab. Three primary program areas display: Maintenance, Tasks, and Reports. 11 Double-click the triangle to the left of Maintenance. The Program Area list expands. Three secondary program areas appear: Inventory Items, Inventory Item/Beginning Balances, and Multiple Item Prices. 12 Select Read from the Control drop-down list for the Inventory Items program area.
Lesson IX—Company Administration Audit Trail Logging on to a Peachtree Accounting Company 1 From the File menu, select Open Company. Select OK to close the current company. The Open Company window appears. 2 Select Bellwether Garden Supply, and then select OK. A Security Check window appears. 3 Enter admin as the User ID and peach as the Password. Click OK to verify your access information and open the company. User IDs and passwords are case sensitive.
3 Tutorials Getting Started Guide Activating Audit Trail Before Peachtree can log data activity, you must select the Use Audit Trail option in the Maintain Company Information window. 1 From the Maintain menu, select Company Information. The Maintain Company Information window appears. 2 Select the Use Audit Trail check box and click OK. After you select this option, Peachtree will begin logging data activity for the current company.
Lesson IX—Company Administration Audit Trail 3 In the Date field (right above the Filter Range), click the drop-down list and select Range. In the From field, enter today’s date (the actual date you’re doing this lesson). In the To field enter March 15, 2003. Then select OK to display the report onscreen. Audit trail activity is recorded based on your computer’s system clock.
3 Tutorials Getting Started Guide Removing User/Password Protection For tutorial purposes, we need to remove user/password security from the sample company so that anyone can easily open the sample data. To avoid entering a user ID and password when opening the sample data (or any company that has security set up), you must delete all user records. Note Only individuals who have access to the Maintain Users window can delete user records and disable data security.
Lesson IX—Company Administration Review of Lesson IX Review of Lesson IX Let’s review some of the things we learned in this lesson: • Memorized transactions can save time in repetitive data entry tasks. You can set up and use memorized transactions for quotes, sales invoices, purchase orders, payments, and General Journal entries.
3 Tutorials Getting Started Guide Lesson X—Time & Billing Tu This lesson shows you how to implement and use Peachtree Accounting’s Time & Billing system.
Lesson X—Time & Billing Restoring the Sample Company Data Backing up the Sample Company Data If you are the first person in your company to work with this tutorial, then you have the honor of backing up the sample company data. This step is important because we are going to be entering information and posting transactions. Others in your office will need a clean copy of the sample data so they can enter the same information and encounter the same conditions.
3 Tutorials Getting Started Guide Setting Up Tutorial Global Options You need to make sure that the tutorial global options are set up properly. 1 From the Options menu, select Global. Peachtree displays the Maintain Global Options window. 2 In the Accounting tab, do the following: 3 • Select Manual Decimal Entry and 2 as the number of decimal places. • Clear the Hide General Ledger Accounts option for all modules (Accounts Receivable, Accounts Payable, and Payroll).
Lesson X—Time & Billing The Time & Billing Process The Time & Billing Process Time & Billing can track time spent on various activities and record internal use of company resources on behalf of customers or jobs. If you choose, recorded time and expenses can later be billed to customers on sales invoices. If you use payroll, timed activities can be applied to an employee’s paycheck. Time & Billing can also be used to effectively manage administrative activities and overhead expenses for your business.
3 Tutorials Getting Started Guide Recording Time Tickets Peachtree Accounting uses the concept of tickets to track time and expenses. There are two types of tickets—time tickets and expense tickets. The difference between time and expense tickets is the type of service or item that the ticket references. Time Tickets Time tickets record an activity that has a timed duration associated with it.
Lesson X—Time & Billing Recording Time Tickets 1 From the Tasks menu, select Time/Expense, and then Time Tickets. You can record time and expense tickets for employees or vendors in Peachtree Accounting. 2 Select Employee as the type for this ticket and press e. 3 Enter or select JW01 (Judy White) from the employee ID lookup list. In this example, we will enter a single daily time ticket. 4 Select the Daily tab (if it is not already selected). A ticket number is automatically assigned by Peachtree.
3 Tutorials Getting Started Guide 6 Select the ART02 (Artwork - Layout and Design) activity item from the lookup list. If you want to examine how the activity item was set up, select the Edit button (at the bottom of the lookup list). The Maintain Inventory Items window displays with the ART02 activity item selected. For more information on setting up inventory items, refer to the “Inventory” chapter of the User’s Guide. Tickets can be recorded for customers, for jobs, or for administrative purposes.
Lesson X—Time & Billing Recording Time Tickets You can only have one time-ticket timer running on a computer or workstation at a time. Note To save time, we will record the time manually. 13 Select the Stop Timer icon. Then select the Manual Time Entry option. Press e to move to the Start Time field. 14 Enter or select 9:00 AM as the start time and press e to move to the End Time field. 15 Enter or select 2:30PM as the end time and press e to move to the Break field.
3 Tutorials Getting Started Guide 19 Press e to accept the $65.00 billing rate and move to the Billing Status field. There are four types of billing status. • Billable: This ticket can be included on customer invoices. • Non-Billable: This ticket will not be applied to customer invoices. This status is automatically applied if this is an administrative ticket. • No Charge: This ticket will be forced to a zero billing amount. This ticket can be applied to customer invoices.
Lesson X—Time & Billing Recording Time Tickets Our time ticket is complete. 24 Select Save to record the ticket. This ticket does not create a General Ledger entry. It is used solely to track time recorded by the employee. It can later be applied to the customer’s sales invoice. Using a Weekly Time Sheet Judy, our employee, is paid by our company based on time-ticket hours she records. She needs to enter time tickets this week so that she will be paid properly during payroll entry.
3 Tutorials Getting Started Guide 1 With the Time Tickets window still open and Judy White’s employee ID still displayed, select the Weekly tab. The time ticket we just entered appears in Judy’s weekly time sheet. All of Judy’s previous time tickets entered for the week display including the time ticket she just entered for the graphic design work. So far, her time tickets total 20 hours.
Lesson X—Time & Billing Recording Time Tickets 4 Select the Weekly tab to return to the time sheet. For this example, we will say that Judy also helped out with bookkeeping and administrative duties in our company’s front office. This administrative time needs to be recorded for the week. Entering Administrative Time Tickets for the Week 5 Make sure the Week Including date displays January 14, 2000 (today for our sample company). 6 Select the Add button to add a new row to the weekly time sheet.
3 Tutorials Getting Started Guide The weekly time sheet should look similar to the following: 12 Select Save to record the durations. Each of the daily durations we just entered are saved as individual time tickets. The weekly time sheet totals indicate that Judy now has 38.50 hours recorded for the week. 13 Press q to close the Time Tickets window. Recording Expense Tickets Expense tickets track the use of company resources on behalf of a customer or job.
Lesson X—Time & Billing Recording Expense Tickets 1 From the Tasks menu, select Time/Expense, and then Expense Tickets. The Expense Tickets window is similar to the Time Tickets window except that it uses charge items rather than activity items. 2 Select Employee as the type for this expense ticket and press e. 3 Enter or select JW01 (Judy White) from the employee ID lookup list. A ticket number is automatically assigned by Peachtree. 4 Judy is recording the ticket today, January 14, 2000.
3 Tutorials Getting Started Guide 6 Select Job, and then press e. 7 Click the lookup button in the Job field. The Job ID lookup list appears. 8 Double-click the CHER01-1 (CCT New Season Brochure) job folder. 9 Double-click the 04-Printing phase folder, and then double-click 010- Labor cost code. You return to the Expense Tickets window. 10 Since this expense is company-paid rather than employee-paid, do not select the Reimbursable to Employee check box.
Lesson X—Time & Billing Recording Expense Tickets 3 Select Job, and then press e. 4 Click the lookup button in the Job field. The Job ID lookup list appears. 5 Double-click the CHER01-1 (CCT New Season Brochure) job folder. 6 Double-click the 04-Printing phase folder, and then double-click 010- Labor cost code. You return to the Expense Tickets window. 7 Type the following ticket description: Copies: Subscription Form.
3 Tutorials Getting Started Guide 4 Select the Reimbursable to Employee check box. This is an out-of-pocket expense for our employee. The company should reimburse her for the cost of the meal. Skip the Ticket Description for Invoicing field since this is a non-billable expense. 5 Select the Internal Memo field and type the following: Lunch at the Red Tomato Cafe with CCT Theater President. 6 Select Non-Billable as the billing status and press e. 7 Enter the cost of the meal as 52.
Lesson X—Time & Billing Using Time and Expense Tickets Pay Our Employee 1 From the Tasks menu, select Payroll Entry. The Payroll Entry window appears. 2 Enter or select JW01 (Judy White) from the lookup list in the Employee ID field. 3 Make sure both the paycheck date and Pay Period End date are both January 14, 2000. Judy’s payroll information appears for the current pay period. This message indicates that the employee is set up to be paid based on recorded timeticket hours.
3 Tutorials Getting Started Guide You could change the total hours worked, if necessary. For example, if your employee inadvertently recorded 44 Regular time-ticket hours, you might change the pay levels to display 40 hours Regular and 4 hours Overtime. Note: If you change the hours worked for time-ticket employees, your Time/ Expense reports will not accurately reflect what was paid to your employee. 4 Select Post to record the paycheck and close the window.
Lesson X—Time & Billing Using Time and Expense Tickets 4 Type Judy White in the Name field. If this expense check was going to be mailed, you could enter her address here. 5 Select OK to return to the Payments window. 6 Leave the check number blank. 7 Accept the date of January 14, 2000. 8 Skip to the first line item and enter or select MEAL01 (Meals) from the Item ID lookup list. 9 Remove the sample description displayed and type Client Lunch. Then, press e to move to the G/L Account field.
3 Tutorials Getting Started Guide 6 Double-click the CHER01-1 (CCT New Season Brochure) job folder. 7 Double-click the 04-Printing phase folder, and then double-click 080Outside Print cost code. You return to the Payments window. 8 Select Post to record the payment, and then close the window. This payment will be available as a reimbursable expense when creating a sales invoice for this customer.
Lesson X—Time & Billing Bill Our Customer for the Work Completed 5 Select the Time Tickets tab (if it is not already selected). 6 Make sure the “Use Ticket Description for Invoicing” check box is selected. This option will insert the ticket description we entered earlier as the invoice line item description. 7 Select the Use check box for the graphic design ticket. Since the billing rate was already set up and recorded, we will accept the invoice amount displayed ($292.50).
3 Tutorials Getting Started Guide 8 Select the Expense Tickets tab. Notice that our non-billable expense ticket for the employee out-ofpocket lunch does not display. In this window, you could select a series of tickets based on job, item, or date range. This can speed up data entry, if several tickets display for this customer. 9 Make sure the “Use Ticket Description for Invoicing” check box is selected. 10 Select the Use check box for both expense tickets.
Lesson X—Time & Billing Bill Our Customer for the Work Completed 11 Select the Reimbursable Expenses tab. Peachtree displays the $1875.00 payment transaction to Mathers Printers. It appears here because we associated the CHER01-1 job to our customer, Cherokee Community Theater. 12 Select the Use check box to apply the printing expense. In order to record a profit from this item, we can write up the expense. 13 Select the Write Up button to display the Select Reimbursables to Write Up/ Down window.
3 Tutorials Getting Started Guide 14 Select the “Write lines up/down by percent” option. Next, enter a percentage of 20.0 and select OK. You return to the Reimbursable Expenses tab. The reimbursable expense’s invoice amount has been written up from $1875.00 to $2250.00. 15 Select OK to return to the Sales/Invoicing window. Four line items have been added to the invoice.
Lesson X—Time & Billing What Happens Next? What Happens Next? Once the tickets or reimbursable expenses are applied to a sales invoice, they will no longer be available for creating a new sales invoice. If the customer ever calls to question an invoiced amount, the ticket and the reimbursable expense items used display as line items in the sales invoice. You can refer to reports for detailed information on all the tickets that have been applied to this particular invoice. That’s it.
3 Tutorials Getting Started Guide • There are two methods to entering and maintaining time tickets. You can enter individual time tickets using the Daily tab of the Time Tickets window. Or, you can enter or display a group of employee or vendor time tickets using the weekly time sheet (the Weekly tab of the Time Tickets window). • You can apply recorded time tickets in payroll entry provided the hourly employee is set up to be paid based on time-ticket hours in Maintain Employees.
Converting Quicken Data to Peachtree Accounting Overview Understanding the Conversion Process 214 Converting from Quicken 99 215 Exporting Quicken Data Preparing for the Quicken Export 216 Creating a Directory for the Exported Files 217 Exporting from Quicken for Windows 218 Exporting from Quicken for MS-DOS 219 Creating a Peachtree New Company Setting Up a New Company 221 Completing Setup 223 Importing the Quicken Data Stepping through the Quicken Import Process 224 Converting Quicken Acc
A Converting Quicken Data to Peachtree Accounting Getting Started Guide • Converting Quicken Data to Peachtree Accounting • Overvie You can import existing Quicken data into a new Peachtree Accounting company. The steps to convert data vary depending on whether you are using the DOS or Windows version of Quicken. Follow the instructions that are appropriate for the version of Quicken that you are using.
Overview Converting from Quicken 99 Quicken Peachtree Accounting Accounts Categories Subcategories General Ledger Chart of Accounts Payees Classes Vendors Customers Jobs Employees Converting from Quicken 99 You can import Quicken 99 and Quicken 99 Home & Business Edition data into a new Peachtree Accounting company. Both these new Quicken products use unique account types and data that may or may not convert properly. Peachtree Accounting only supports some of these new account types and data lists.
A Converting Quicken Data to Peachtree Accounting Getting Started Guide Exporting Quicken Data This section describes the process of exporting your Quicken data to a file format that can later be imported in Peachtree Accounting. Preparing for the Quicken Export Before you begin exporting Quicken data, complete these tasks to ensure that your Quicken information will convert to Peachtree Accounting as accurately as possible.
Exporting Quicken Data Creating a Directory for the Exported Files You may also want to change your current Quicken account and category naming scheme to a traditional account number scheme. This way, you will be able to incorporate the Quicken accounts into one of the Peachtree Accounting sample charts of accounts. Use this procedure to display a sample list of various charts of accounts. 1 From the Peachtree Accounting Help menu, select Contents and Index.
A Converting Quicken Data to Peachtree Accounting Getting Started Guide To create a directory from Windows 1 Open Windows Explorer. Select Drive C. Then, from the File menu, select New Folder. 2 Enter a directory name (for example, EXPORT), using up to eight characters. Exporting Data from the Windows Version of Quicken You are going to export data one account at a time until you have exported all the accounts. Follow these instructions if you are exporting data from the Windows version of Quicken.
Exporting Quicken Data Exporting Data from the MS-DOS version of Quicken 4 In the “Quicken Account to Export from” field, do one of the following: • If converting from Quicken 99, select All Accounts. • If converting from another version of Quicken, select the account you want to export now. You will not see income and expense accounts in this list because Quicken exports this data automatically as categories when it exports transaction data for each account.
A Converting Quicken Data to Peachtree Accounting Getting Started Guide 5 Enter a range of dates in Export Transactions from...to... for the transactions you want to export from the account. If you want to ensure that you include all possible transactions, leave the default for the from date and set the future date (the to date) a year or so after today’s date. 6 Enter a Y in Export Transactions for each account.
Create a New Company in Peachtree Accounting Setting Up a New Company Create a New Company in Peachtree Accounting Before you can import Quicken data, you must set up a new company in Peachtree Accounting. This section only describes those areas of setting up a company that are unique to converting from Quicken. Refer to Chapter 1, “Creating a Company” of the User’s Guide for more detail. 1 If you haven’t already installed Peachtree Accounting, please do so now.
A Converting Quicken Data to Peachtree Accounting Getting Started Guide 6 On the New Company Setup - Accounting Periods window, select one of the following and select Next. • 12 monthly accounting periods • Accounting periods that do not match calendar months. In Quicken, you don’t close a period or fiscal year, so you have access to all the transactions you have ever entered.
Create a New Company in Peachtree Accounting Completing Setup Completing Setup Deleting Default Information There can be no Default Link Accounts, or accounts in your chart of accounts, when importing Quicken information. Make sure that between creating your company and importing the Quicken data, no accounts are entered. If you just set up a new company using the New Company Setup wizard as described in the previous section, this is already done for you.
A Converting Quicken Data to Peachtree Accounting Getting Started Guide Importing Quicken Data If you have exported your Quicken data and set up a new company in Peachtree Accounting, you are ready to import Quicken data. If not, please complete these steps before you continue. Before the Quicken data is actually imported, you must define how you would like the Quicken data to be interpreted by Peachtree Accounting.
Importing Quicken Data Converting Quicken Accounts and Categories 4 Select the All Files import type and choose Quicken. 5 Select the Import button. Peachtree displays the Import a File window. 6 Enter the path name (directory) where the exported Quicken file(s) are located. Quicken Account Peachtree Account This is the directory name, not each file name; for example, C:\EXPORT. All files in the directory with a *.QIF extension will be imported. 7 Select OK to begin the import process.
A Converting Quicken Data to Peachtree Accounting Getting Started Guide Selecting Quicken Accounts to Convert (Part 1 of 6) 1 Begin the Quicken import process (as described in the previous section) until Peachtree displays the Quicken Import - Part 1 of 6 window. Quicken Account Peachtree Account You use this window to tell Peachtree where to direct your Quicken accounts. There are three columns: File Name, Quicken Account, and Peachtree Account.
Importing Quicken Data Converting Quicken Accounts and Categories Understanding Peachtree Account IDs The import program attempts to use the original Quicken account name as the account ID in Peachtree Accounting, if it can. Since Quicken allows more characters for account IDs than Peachtree, some of your account IDs will be shortened. The import program initially assigns an ID to each account using these naming conventions.
A Converting Quicken Data to Peachtree Accounting Getting Started Guide Selecting Quicken Categories to Convert (Part 2 of 6) 1 Select the Continue button until Peachtree displays the Quicken Import Part 2 of 6 window. Quicken Category New Acct ID Peachtree Acct Type Peachtree displays a list of Quicken accounts and categories, the default Peachtree account IDs, and their default account types. 2 Select the account you want to change by clicking it in the list box.
Importing Quicken Data Converting Quicken Accounts and Categories The import program assigns these default account types when converting Quicken accounts and categories to Peachtree Accounting accounts.
A Converting Quicken Data to Peachtree Accounting Getting Started Guide Converting Quicken Payee and Class Names Quicken has two types of data remaining that you must identify in Peachtree Accounting before beginning to import Quicken transactions. They are: • Payee names • Class names In Quicken, payees can be anybody you write a check to or receive a deposit from, including vendors, customers, and employees.
Importing Quicken Data Converting Quicken Payee and Class Names Converting Quicken Payees to Peachtree Vendors (Part 3 of 6) 1 Select the Continue button until Peachtree displays the Quicken Import Part 3 of 6 window. Peachtree lists all the Quicken payees who were associated with checking transactions with negative amounts. Initially, all the payees in the list are selected as vendors (an X appears next to their name) and all classes are not selected. 2 Review the vendor list.
A Converting Quicken Data to Peachtree Accounting Getting Started Guide Converting Quicken Payees to Peachtree Customers (Part 4 of 6) 1 Select the Continue button until Peachtree displays the Quicken Import Part 4 of 6 window. Peachtree lists all the Quicken payees who were associated with checking transactions with positive amounts and all classes that were not selected previously. Initially, all the payees in the list are not selected as customers. 2 Review the customer list.
Importing Quicken Data Converting Quicken Payee and Class Names Converting Quicken Classes to Peachtree Jobs (Part 5 of 6) In Peachtree Accounting you can track jobs including reimbursable expenses and revenue. Jobs can be company- or customer-related projects. Many of Quicken’s classes could be converted to Peachtree Accounting jobs. 1 Select the Continue button until Peachtree displays the Quicken Import Part 5 of 6 window.
A Converting Quicken Data to Peachtree Accounting Getting Started Guide Converting Quicken Payees to Peachtree Employees (Part 6 of 6) 1 Select the Continue button until Peachtree displays the Quicken Import Part 6 of 6 window. Peachtree lists all the remaining payees who were not chosen as vendors and were associated with negative checking transactions. Initially, all the payees in the list are not selected as employees. 2 Review the employee list.
Importing Quicken Data What to Do After Importing Balancing Transactions In Peachtree Accounting, transactions must be balanced with debits and credits. This is not required in Quicken. Because of this difference, it may be necessary for the import program to create balancing transactions (debits equal credits) from sometimes one-sided Quicken transactions. For example, in Quicken it is possible to write a check without assigning a category.
A Converting Quicken Data to Peachtree Accounting Getting Started Guide Setting Up Necessary Accounts Because Peachtree Accounting uses a full chart of accounts, there are some accounts you must set up that you may not have set up in Quicken.
Importing Quicken Data What to Do After Importing Set Up Accounts in Your Chart of Accounts 1 From the Maintain menu, select Chart of Accounts. Peachtree displays the Maintain Chart of Accounts window. 2 Enter any accounts from the list that are not in your chart of accounts and select Save. Peachtree requires that you include one account with the “EquityRetained Earnings” account type in your chart of accounts before posting any transactions.
A Converting Quicken Data to Peachtree Accounting Getting Started Guide Set Up Default Accounts for Your Vendors 1 From the Maintain menu, select Default Information, then Vendors. Peachtree displays the Vendor Defaults window. 2 Select the Payment Terms tab and choose the default G/L purchase (expense) and G/L discount (expense) accounts. 3 Select OK to save your defaults and close the window. 4 From the Maintain menu, select Vendors. Peachtree displays the Maintain Vendors window.
Importing Quicken Data What to Do After Importing Setting Up Sales Tax Information You need to set up sales tax information before entering sales transactions to your customers. Peachtree Accounting uses sales tax authorities for tracking revenue from sales tax. You can associate appropriate sales tax codes that you set up (a combination of one or more sales tax authorities) with your customers.
A Converting Quicken Data to Peachtree Accounting Getting Started Guide Posting Transactions Since you are using the Batch posting method, you must post the transactions manually. Follow these steps: 1 From the Tasks menu, select System, then Post. Peachtree displays the Post window. If you chose the Real-Time posting method during New Company Setup, this menu option will not be available. 2 Select the All Journals option and click OK.
Troubleshooting the Quicken Conversion Frequently Asked Questions Troubleshooting the Quicken Conversion Below are frequently asked questions that may help you resolve errors when starting or working with Peachtree Accounting. Frequently Asked Questions The following section lists common questions that occur when importing Quicken data into Peachtree Accounting. What is converted from Quicken? All transactions are converted for the date range you selected.
A Converting Quicken Data to Peachtree Accounting Getting Started Guide When setting up my company in Peachtree, what should my first accounting period be? In Quicken, it is never necessary to “close” a period. In fact, there is no way to close, so all the transactions you ever entered into Quicken are accessible. In Peachtree, you can have two years or 24 periods open, meaning that you can access (display) the transactions in these periods.
Troubleshooting the Quicken Conversion Frequently Asked Questions I had over two years of data and I can’t get to some of my transactions from last year in Peachtree. What’s wrong? Peachtree Accounting allows you to have access to 24 periods, or basically two years of data. If the dates of your Quicken data were before the first accounting period you entered during setup, these transactions cannot be displayed although the amounts for them are accounted for.
A Converting Quicken Data to Peachtree Accounting Getting Started Guide What happened to my invoice transactions I imported from Quicken Home & Business Edition? Quicken Home & Business Edition allows you to invoice payees. These transactions are converted as separate General Journal entries and are not part of the Peachtree Accounting’s Sales/Invoicing system.
Converting QuickBooks Data to Peachtree Accounting Overview Preparing for the QuickBooks Conversion 247 Converting a QuickBooks Company Stepping Through the Conversion Process 249 What QuickBooks Data Is Converted 255 After Converting Understanding Balances after the Conversion 277 Setting Up a Cash-Basis Company 278 Troubleshooting the Conversion 280 Comparing QuickBooks to Peachtree B
B Converting QuickBooks Data to Peachtree Accounting Getting Started Guide • Converting QuickBooks and Data to Peachtree Accounting • Overview If you created a company using QuickBooks or QuickBooks Pro, you can convert your company data to the Peachtree Accounting format. Peachtree will convert most QuickBooks lists (such as accounts, customers, vendors, employees, items, and jobs) and current balances.
Preparing for the QuickBooks Conversion Setting up QuickBooks Preparing for the QuickBooks Conversion Before converting company data to the Peachtree Accounting format, you must verify that your QuickBooks company is set up so that Peachtree can properly read your data. Setting up QuickBooks 1 Start QuickBooks or QuickBooks Pro and open your company. Verify your company name First, you need to verify that your company data includes a valid company name.
B Converting QuickBooks Data to Peachtree Accounting Getting Started Guide Note 6 Select the “Use account numbers” check box (if it is not already selected), then click OK. 7 From the Lists menu, select Chart of Accounts. 8 Scroll through your list of accounts and verify that each account has an account number as well as an account name. Account numbers can be up to eight alphanumeric characters in QuickBooks.
Converting a QuickBooks Company Stepping Through the Conversion Process Converting a QuickBooks Company When converting a QuickBooks company, Peachtree will prompt you to locate your QuickBooks company data file (*.QBW). Peachtree will read information from this data file and create a new company in the Peachtree Accounting format. Note Peachtree Accounting conversion does not change your QuickBooks data file. It creates a new set of data files and places them in the Peachtree Accounting data path.
B Converting QuickBooks Data to Peachtree Accounting Getting Started Guide OR • From the File menu: Select Open Company. Select the QuickBooks file that represents your company data. Select QuickBooks as the company type. 4 In the Open Company window, select QuickBooks as the company type (if it is not already selected). 5 Locate and select your QuickBooks company data file (for example, COMPANY.QBW). Then, select OK.
Converting a QuickBooks Company Stepping Through the Conversion Process 6 Select OK to begin the conversion. 7 Select an accounting method that you will be using for this company. The accounting method determines how Peachtree Accounting handles General Ledger, Accounts Receivable, and Accounts Payable transactions. Cash and accrual are the two basic accounting methods used to run a business. You must select the method your company will use.
B Converting QuickBooks Data to Peachtree Accounting Getting Started Guide 9 Select Continue. This allows you to set up the number of accounting periods per year and to set a start and end date for each accounting period for two years. Below are the fields you can enter: Number of Accounting Periods in the Fiscal Year: You can enter up to 13 periods. Use 12 if you intend to use months as accounting periods; use 13 if you wish to have four weeks in your accounting period.
Converting a QuickBooks Company Stepping Through the Conversion Process 11 Select Continue to save your entries and proceed with the conversion. Peachtree begins the process of reading information from your QuickBooks data file and creating a new company in the Peachtree Accounting format. During the conversion you are prompted to select default purchases and sales accounts. 12 Select an account that will be assigned as the default purchase account for all vendors converted from QuickBooks.
B Converting QuickBooks Data to Peachtree Accounting Getting Started Guide 15 When the conversion is complete, a message displays indicating that the QuickBooks company data was successfully converted. Select OK to display the Setup Checklist. The Setup Checklist lets you know what you have set up for Peachtree Accounting. Each time you enter a function from the setup checklist you’ll be asked whether you want to mark the task as complete when you exit the task.
What QuickBooks Data Is Converted Field Comparison Lists What QuickBooks Data Is Converted Peachtree Accounting handles most accounting data differently than QuickBooks. During the conversion process, data may be reformatted to conform to Peachtree Accounting formatting standards. This section of the conversion guide explains the differences in data handling and offers suggestions to minimize the changes you have to make after the conversion.
B Converting QuickBooks Data to Peachtree Accounting Getting Started Guide In QuickBooks In Peachtree Because there are many variations to how you can enter addresses in QuickBooks, these fields may or may not convert as you would expect. To ensure accuracy and consistency, make sure your addresses are entered in QuickBooks using the U.S.
What QuickBooks Data Is Converted Converting Company Information Zip Codes Peachtree can accept Zip codes using the five-digit format (XXXXX) and nine-digit format (either (XXXXXXXXX or XXXXX-XXXX). If the Zip code is entered on a separate line in QuickBooks it may or may not convert correctly to Peachtree. If this happens, you can easily correct the address after the conversion. Employee Addresses In QuickBooks, the employee’s name is automatically inserted as the first line of the employee address field.
B Converting QuickBooks Data to Peachtree Accounting Getting Started Guide Converting Chart of Accounts Before you can convert QuickBooks data, each account listed in the QuickBooks chart of accounts must have a unique account number. Peachtree uses the numbers as account IDs when selecting accounts from lookup lists. You cannot change the account IDs after the conversion is complete. If you want to change the ID, you must enter a new account in Peachtree Accounting’s and transfer the balance.
What QuickBooks Data Is Converted Converting Chart of Accounts Accounts Payable and Accounts Receivable Accounts If you set up vendors in QuickBooks, Peachtree will require an accounts payable account. If you set up customers in QuickBooks, Peachtree will require an accounts receivable account. During the conversion, Peachtree will prompt you to select default purchase and sales accounts.
B Converting QuickBooks Data to Peachtree Accounting Getting Started Guide Converting Customers If you have customers set up in QuickBooks, these records will be converted to the Peachtree Accounting format. Each converted customer is assigned a customer ID, which is derived from the customer name. You cannot change customer IDs after the conversion is complete. If you want to change the ID, you must enter a new customer in Peachtree Accounting.
What QuickBooks Data Is Converted Converting Customers Terms QuickBooks allows you to set up a list of terms. When setting up customers, you can select any one of the terms from the list. Peachtree sets up a single set of “standard terms” in Customer Defaults. Then, when setting up a customer, you choose whether or not the customer uses standard terms. All QuickBooks customers are converted as using non-standard terms, with each set of unique terms based on the terms listed in QuickBooks.
B Converting QuickBooks Data to Peachtree Accounting Getting Started Guide Converting Sales Taxes In Peachtree Accounting sales taxes are set up as sales tax codes. Each sales tax code is made up of at least one sale tax authority. QuickBooks uses tax items and tax groups. • Tax items: Each QuickBooks tax item (whether exempt or not) is converted to a sales tax authority, a component to Peachtree’s sales tax codes. Each tax item is also converted as its own Peachtree Accounting sales tax code.
What QuickBooks Data Is Converted Converting Vendors Default Purchase Account Peachtree requires that each vendor have a default purchase account (typically an expense or inventory account). During the conversion, you are prompted to select a default purchase account for all the vendors that are to be converted from QuickBooks. Each vendor converted from QuickBooks is assigned the same purchase account default. This account is used as the default when recording a purchase.
B Converting QuickBooks Data to Peachtree Accounting Getting Started Guide Converting Payroll Setup Information If you have payroll set up in QuickBooks, Peachtree can convert most of the setup information to the Peachtree Accounting format. After the conversion, you have to update areas that could not be converted. After converting the company data, you can examine and update your payroll setup in Peachtree Accounting at any time.
What QuickBooks Data Is Converted Converting Payroll Setup Information Deductions and Additions If you set up miscellaneous deductions and additions In QuickBooks, these payroll items are converted to Peachtree Accounting as employee payroll fields in Employee Defaults. If you entered a set amount to be added to or subtracted from the adjusted gross total, these amounts will also be converted. QuickBooks allows you to enter percentage amounts when calculating payroll additions and deductions.
B Converting QuickBooks Data to Peachtree Accounting Getting Started Guide QuickBooks allows you to set up two localities for each employee. Peachtree will only allow one locality per employee. Note For more information, see “Set Up Local Taxes after Converting from QuickBooks” on page 268. Set Up 401(k) Contributions Peachtree cannot convert 401(k) information you have set up in QuickBooks.
What QuickBooks Data Is Converted Converting Payroll Setup Information Box 7: FICA Tips: Select your employee “Tips” payroll field if your employees record tips and you have set this payroll item up in QuickBooks or Peachtree Accounting. Box 18: State Inc Tax: Select your state withholding payroll field (for example “GA With” or “GASIT”). After the converting payroll information from QuickBooks, Peachtree will assign this payroll field for you.
B Converting QuickBooks Data to Peachtree Accounting Getting Started Guide 6 Select the appropriate payroll field for each employer-paid tax. These are the tax contributions that are required from the employer. Check your state’s tax laws to be sure. Federal Unemployment (FUTA): Select your employer federal unemployment payroll field. This is required of all employers (for example, “Federal Une” or “FUTA_ER”).
What QuickBooks Data Is Converted Converting Payroll Setup Information 3 Locate the local withholding payroll field that was converted from QuickBooks. QuickBooks only provides the following local tax types: • Indiana Counties • Michigan Cities • New York City Resident • New York City Non-Resident • Ohio School District • Yonkers City Resident • Yonkers Non-Resident 4 Select the Calculate check box. 5 Enter or select the tax ID that corresponds to your area, if required.
B Converting QuickBooks Data to Peachtree Accounting Getting Started Guide Converting Employees If you have employees set up in QuickBooks, these records will be converted to the Peachtree Accounting format. Each converted employee is assigned an employee ID, which consists of the employee’s initials. You cannot change employee IDs after the conversion is complete. If you want to change the ID, you must enter a new employee in Peachtree Accounting (effectively loosing any associated balances).
What QuickBooks Data Is Converted Converting Employees Pension and Deferred Check Boxes Peachtree includes Pension and Deferred check boxes in the General tab of the Maintain Employees/Sales Reps window. These are primarily used for W2 purposes. Peachtree cannot convert this information from QuickBooks. This must be manually set up in Peachtree Accounting.
B Converting QuickBooks Data to Peachtree Accounting Getting Started Guide Deductions and Additions If you set up miscellaneous deductions and additions in QuickBooks, these payroll items are converted to Peachtree Accounting as employee payroll fields in Employee Defaults. If an employee does not use a standard amount or calculation for one of these fields, clear the Standard (STD) check box and enter the unique data.
What QuickBooks Data Is Converted Converting Inventory Items Converting Inventory Items If you have inventory items set up in QuickBooks, they will be converted to the Peachtree Accounting format. You can set up stock, non-stock, assembly, labor, service, and description only items in Peachtree Accounting. Each inventory item is assigned an item ID, which is derived from the QuickBooks item name/number. You cannot change item IDs after the conversion is complete.
B Converting QuickBooks Data to Peachtree Accounting Getting Started Guide Group Items and Assemblies Peachtree cannot convert group items: those items that contain a combination of other items. In QuickBooks, group items can contain inventory and non-inventory item components, which is not possible in Peachtree. You can create assemblies in Peachtree, which contain only inventory components.
What QuickBooks Data Is Converted Converting Jobs Quantity on Hand Beginning Balances The current number of an inventory part item on hand in QuickBooks is converted to Peachtree Accounting as the stock item’s beginning balance. The Peachtree Accounting beginning balance for inventory items includes the quantity, unit cost, and total cost of the inventory. You only use this when you first enter beginning balances.
B Converting QuickBooks Data to Peachtree Accounting Getting Started Guide The following fields cannot be converted or are not available in QuickBooks and can be optionally set up Peachtree Accounting: • Supervisor • % Complete • PO Number • Estimated Expense • Estimated Revenue For more information on setting up jobs, refer to the “Job Costing” chapter of the Users Guide. Job Balances Peachtree does not convert job balances from QuickBooks.
After Converting Understanding Balances after Converting from QuickBooks After Converting After your company data has been imported into Peachtree Accounting, you have the final set up work to complete. Understanding Balances after Converting from QuickBooks While converting QuickBooks data, Peachtree will assign beginning balances to accounts, customers, vendors, employees, and inventory items that are converted. These balances represent the current balance in QuickBooks at the time of the conversion.
B Converting QuickBooks Data to Peachtree Accounting Getting Started Guide For example, a vendor has a Peachtree beginning balance of $148.00 (the balance of open invoices in QuickBooks). To make a payment against this balance, do the following: 1 From the Tasks menu, select Payments. The Payments window displays. 2 Enter or select the vendor ID. In the Apply to Invoices tab the $148.00 displays with a BEGBAL reference.
After Converting Setting Up a Cash-Basis Company Print the QuickBooks Trail Balance report using the cash-basis method. To do this, follow the procedure below: 1 From the QuickBooks Reports menu, select Other Reports, then Trial Balance. 2 When the report displays, select the Customize button and choose Cash as the Report Basis. 3 Select OK to display the report. Then, print the report. You can then enter beginning balances for your accounts in Peachtree using this report as a guide.
B Converting QuickBooks Data to Peachtree Accounting Getting Started Guide Troubleshooting the Conversion from QuickBooks Below are key points that may help you resolve errors during the conversion process. Common Errors “No Name” Displays as Company Name after the Conversion If your company name displays as “No Name” in Peachtree Accounting, it is possible that your company name in QuickBooks contains a value that Peachtree cannot read or accept. Peachtree first uses the Company Legal Name.
Troubleshooting the Conversion from QuickBooks Troubleshooting Error Messages Accounts Payable and Accounts Receivable Accounts Not Found If you have one or more vendors set up in QuickBooks, you must have an accounts payable account listed in your chart of accounts before beginning the conversion. If one or more customers, you must have at least one accounts receivable account set up in your chart of accounts before beginning the conversion.
B Converting QuickBooks Data to Peachtree Accounting Getting Started Guide Comparing QuickBooks to Peachtree Obviously, Peachtree manages certain aspects of accounting differently from that of QuickBooks. This section outlines major differences in the tasks and features of each accounting package to assist you in becoming more familiar with Peachtree and to make the transition less difficult.
Comparing QuickBooks to Peachtree Inventory Inventory Inventory Costing Method QuickBooks allows only the Average Cost costing method for inventory. In Peachtree, however, you have the opportunity to change this method. Peachtree offers three different costing methods for inventory: FIFO (First In First Out), LIFO (Last In First Out), and Average Cost.
B Converting QuickBooks Data to Peachtree Accounting Getting Started Guide Tasks The following table lists the chief tasks associated with the main sections of QuickBooks and Peachtree.
• Index • Numerics B 2000 year compliant 35 386 Enhanced mode virtual memory 26 backing up data tutorials 65, 187 Backorder Report, Sales tutorials 125 backorders tutorials 125 basic procedures tutorials 63 batch posting network 8 tutorials 81 beginning balances tutorials 163 Btrieve error messages 25, 26 A about this guide 2 access, limited tutorials 181 accessing online Help 59 Accounting Behind the Screens conversion issues 37 tutorials 99 accounting periods changing 84 tutorials 83 accounts adding 7
Index Getting Started Guide converting company data (cont.
J installing (cont.
Index Getting Started Guide posting methods networks 8 tutorials 81 practicing with sample data 18 written tutorials 50 printing disbursement checks 104 invoices 124 paychecks 141 purchase orders 95 purchase invoices jobs 164 tutorials 96, 150 purchase orders after the conversion 41 conversion issues 40 printing 95 tutorials 92 purchases inventory 150 job costing 164 Purchases/Receive Inventory tutorials 96 Q QuickBooks converting from 246 Quicken accounts 216 after importing data 235 categories 216 check
U transaction lines, entering tutorials 93 trial balance tutorials 80 troubleshooting company data conversion 33 company data conversion on a network 34 installation and starting Peachtree 24 QuickBooks conversion 280 Quicken conversion 241 tutorials accounts payable 88 accounts receivable 110 adding an account 77 basic procedures 63 company administration 173 General Ledger 76 getting to know Peachtree Accounting 52 inventory 145 job costing 157 lesson plan 50 payroll 133 Peachtree Accounting terms 58 Tim
Index Getting Started Guide 290
