User Guide

What QuickBooks Data Is Converted

Converting Vendors

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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. After the conversion, you may want to

assign a unique purchase account default for each of your vendors. You can

also change the purchase account in invoicing or payments, if necessary.

The purchase account default selected during the conversion process only

applies to vendors converted from QuickBooks. After the conversion is

complete, you will still have to set up a Peachtree Accounting default purchase

account in Vendor Defaults.

Terms

QuickBooks allows you to set up a list of terms. When setting up vendors, you

can select any one of the terms from the list. Peachtree sets up a single set of

standard terms in Vendor Defaults. Then, when setting up a vendor, you

choose whether or not the vendor uses standard terms. All QuickBooks

vendors are converted as using non-standard terms, with each set of unique

terms based on the terms listed in QuickBooks.

After the conversion is complete, you need to set up standard terms for

vendors in Vendor Defaults.

Vendor Beginning Balances

Peachtree converts the open balance (the sum of all outstanding invoices) as

the vendor’s beginning balance. This beginning balance is entered as of the

day before the first period you chose to enter data during the conversion

process. When you need to pay a vendor, you can enter it against the

beginning balance total.