General journal entries

If you want to correct your any wrong entry of the past, or pass any adjusting entry related to the any previous entry, then you can use the window of General journal entry.

In order to know that how to record an adjusting entry in Peachtree accounting software, click on the Tasks, and then select General Journal Entry. As we can see below

Then the following screen will appear

This is the screen of general journal entry. In this screen, we have to write the

·        Date of previous invoice in the Date

·        Invoice number in the Reference

And now you can do the adjustment. For that; select that GL Account in which you want to make the adjustment. Give the description of that account, its debit or the credit balance.

For saving the adjusting entry you have just passed, press the Save button in the header or press Alt+s

NOTE:

We can also view the journal entries we had passed.

For seeing your previous general journal entries, press the Open button in the header. The following screen will appear;

From the drop down button of Show, select the time period of which you want to view the general journal entry. As you can see below

Then from the selected time period, select that entry which you want to view.

By clicking double on your desired entry, the software will open that entry. As you can see below:

This is the whole procedure to make general journal entries.

Purchases/Receive inventory

Purchases are recorded when you receive the goods from your vendors.

In order to know how to record purchases / receive inventory in Peach tree accounting software, click on the Tasks menu and then select the Purchases/Receive Inventory from it, as you can see below

After selecting the Purchases/Receipts; the following screen will appear

This is the screen of Purchases/ Receive Inventory.

In order to record the purchases, firstly you have to give the vendor ID of vendor from whom you are purchasing the goods. For giving the vendor ID, click on the magnifying mirror in the Vendor ID or press Shift+? , the list of all your vendors will open. As you can see below

Select the required vendor from the list of vendors, by pressing Enter or by double clicking on it.

Note:                                                                                                  

(You can also make a new vendor, which is not present in the list of vendors. By pressing + or by clicking twice; the software will open the window of Vendors where you can create a new vendor account and use it in the window of Purchases/Receive inventory)

If you selected that vendor, with whom you haven’t made the purchase order of the goods you are now receiving, then the screen will look like as follows

But if you select that vendor, with whom you have previously made a purchase of the goods you are now receiving; then you can view the changes which have been occurred in the Purchases/Receive inventory window

You can see that the Apply to Purchases tab has been shifted to Apply to Purchase Order No. tab.

Now you have to enter the invoice number in Invoice No. and then

·        Give the address at which you are receiving the goods in Ship To

·        Select  the date of invoice from the calendar in the Date

·        Select the method of receiving  the goods from Ship Via

·        Any discount terms applicable to the purchases from Terms

·        Accounts payable ID from the magnifying mirror of  A/P Account

After giving all these details, the screen will look like as follows

Now select the Purchase order number from the drop down button, as shown below

As you select the purchase order number, the screen will look like, as given below

The software is giving all the details of the purchase order you have selected.

You just have to give the quantity of the goods you are receiving in the Received column, and the software will automatically make the total amount of the goods you are receiving. As you can see below

NOTE:

The software also gives us the facility to make purchases directly, without any making a purchase order.

So if you want to purchase some additional goods from the same vendor, you can make the additional purchases under the same invoice number, by clicking on the Apply to Purchases tab.

As you can see below

Note:

But if you had once closed the invoice, then you have to make a new invoice to directly purchase additional goods in addition to the goods of your purchase order.

 Now in order to save your data of purchases you have made, press Save in the header to save that invoice or press Alt+s

The software also gives us the facility to view the record of our previous purchases. So you can view your previous record of purchases by clicking on the Open button in the header of this Purchases/Receive inventory window.

As you press the open button, the following screen will appear

From the drop down button of Show, select the time period (of which you want to see the purchases).  

Now the screen will look like as follows

Now select the purchase record you want to see by double clicking on it.

Double clicking will open your desired record. As you can see below;

This is the whole process to record purchases and also to view the previous record of purchases in Peach tree accounting software.

Purchase Orders

Purchase orders are made; when you want to purchase the goods or the services.

 In order to know how to made a purchase order in Peach tree accounting software, click on the Tasks menu and select Purchase Orders; as shown below

Then the following screen will appear

In this screen, first of all; we you have to give the vendor ID. For giving the vendor ID, click on the magnifying mirror of the Vendor ID.  The software will give you the list of all vendor IDs of your company. As we can see in the below screen

Select the vendor whom you want to make the order.

After selecting the vendor, the screen will look like as follows;

Now, you have to give the

·        Date on which you are making the purchase order in the Date

·        Date of delivery of goods to your company in the Good Thru

·        Purchase order number in the PO No.

·        Terms of discount if any in the Terms

·        Mode of delivery of goods in the Ship via

·        Account payable ID in Accounts Payable

After giving all these details, the screen will look like as follows

Now select the item ID from the magnifying mirror in the Item.

As you select the item ID, the software will automatically give you the item name in the description column, as you can see below

You have to give the quantity of your selected item you want to buy, in the Quantity, and the per unit price of your selected item in the Unit Price. The software will automatically make the total amount of your order.

Then select the GL account of raw material (as you are running a manufacturing concern) from the magnifying mirror in the GL Account, as shown below

After giving all these necessary details, the screen will look like as follows

To save your purchase order; press the Save button in the header or press Alt+s

NOTE:

The software also gives us the facility to view the purchase orders we had made.

So if you want to see the purchase orders you had made, press the Open button in the header of this purchase orders window, then the following screen will appear

In this screen; you can select the purchase orders you had previously saved.

From the drop down button of Show, select the time period (of which you want to see the purchase orders).

The software will give you all the purchase orders of that time duration.

Now by double clicking on your desired purchase order in the Select Purchase Order window, the software will open that purchase order, as you can see below



Receipts

Receipts are made to receive or make payments. The issuing date of receipt may vary from the date of invoice as sales are often made on credit basis.

            In order to know how to make receipts in Peachtree, click on the Task menu and then select Receipts, as shown below

Then the following screen will appear

In this window, we first select the Type of ID (either customer or the vendor whose receipt is going to be made), from this drop down button (which is presently showing customer ID) .When can either select customer ID or a vendor ID, as we can see in the screen below

Then select the customer ID or the vendor ID (according to the type of ID; you have previously selected) from the magnifying mirror in the screen, as we can see below

We select the ID of our customer. We can either directly sell the goods by making a receipt or make a receipt for an invoice (which was already made for the customer).  As we select that customer whose invoice had been made already but payment is not yet made; the screen will look like this

We can see in the screen that now the Apply to Invoices tab has also been activated. The software is giving us all the details of the invoice of our selected customer.

But if the same customer want to purchase some additional goods, we can record them in the apply to revenues tab, under the same receipt number, as we can see below

Moreover in this window of receipts, we have to give some other important information. For example

·        The Invoice number in the Reference,

·         The Receipt Number

·        Date at which we are making the receipt in Date

·        Have to select the mode of payment in the Payment Method.

·        Give  the Bank deposit slip number in the Deposit Ticket ID

·        In the extreme right side of the window, we have to select the Type of cash account in Cash Account

As we can see below

The same is the process for the vendors if we select the Type of ID as a vendor ID, as we can see below;