Maintain inventory item

Maintain Inventory Item

When we buy and sell any inventory we record it in inventory item so we go to maintain menu and select the inventory tem and after each transaction recorded, software updates the quantities f inventory item. We also tore those items which are not stock but t is necessary t enter the invoice number.

                     

This window opens the important information which must be written are

·        Item Id,

·        Description,

·        Item class

·        GL sales account

·        GL inventory account

·        GL cost of goods account

In this section we also write last unit cost and measure units.

Inventory item header field

The above portion of maintain inventory item is called header field where we see lookup button and we enter the item Id with the help of lookup button and then enter description and on the right side we select the item class e.g. assembling, stock etc In the header field we see also right left button, with the help of these button we look existing item id..

Item Id

We enter the up to 20 alphanumeric characters for the new inventory item .Inventory items are so sensitive e.g. B2 and b2 are two different item ids.

Description

We enter up to 30 alphanumeric characters for the description. That description which appears in the look up button is short description and we also enter long description that we used in sales and purchase transaction.

Item class

Item class shows the various types of inventory item.

Inactive

If we don’t use inventory item, we mark on the inactive. Once we record inventory item inactive and we sell inventory item the Peachtree software display the waning.

Item Class

 We select the Item class according to what type of inventory item we set up. Item class identifies how we record item information .Once we select the item class it can’t change and we select the item inventory according to nature of inventory item.

Stock item

This item class is used for the inventory items which are associated for quantities, vendors, cost, and low stock points. If we select the item class it can’t change.

Master stock item

It is a special type of item class which is not as an inventory butt contains information which is shared with sub stock items.

Non-stock item

This type of item class is used for services contracts which are associated for quantities, unit price, and description but quantities on hand are not tracked.

Description only 

This type of item class is used when nothing is tracked except the description. 

Assembly

This type of item class is used for finished items .Once a transaction uses an assembly, it cannot be changed.

Service

This type of item class is used for services that can apply GL salary and wages account and we enter cost for services.

Labor

This type of item class is used for labor that can apply GL salary and wages account and we enter cost for services.

Maintain Vendor

With the help of maintain vendor window, we enter the company information and also change it and store the information of those where we purchase the goods and services.

·                           Name and address of vendors

·                           History of vendor

·                          Account of vendor

·                          Payment period and limits

To access the vendor window, we go to maintain menu and click on the vendors, so the vendor screen appears

General tab

The above part is called vendor header where we see vendor ID, name of vendor etc. When we choose the general tab we enter the contact of vendor, address of vendor, city and country code etc and if we save it, the data can’t save because the general purchase account can’t written so we also enter  vendor id and then save it.

Purchase Default

When we select purchase default, we write the purchase representative, general purchase account, tax Id, and we also mention delivery method we select whether paper form or e-mail and we select the paper method. Ship via mean choose the shipping carrier that the vendor uses for their items.

Term mean if we choose standard time we can’t any change in the purchase default term which shows in general tab and also we selects the term according to transactions which made with vendor .And after this we save the data.

Custom field

When we select the Custom field its mean we enter the selected vendor information like  vendor ID and vendor name which are necessary .

History of vendor

When we select the vendor history tab, following things can appears vendor since, invoice date payment date, payment Amt period history, purchases, payments etc. Vendor since mean when the transaction occurs first time we enter that date. Last invoice date mean when we received last invoice from vendor we enter that date. Last invoice Amt mean enter the last invoice amount. Last payment date mean when. We paid the vendor we enter that date. Last payment Amt mean enter last amount which paid to vendor.

 Default Information Customer:

After established the company, chart of accounts of company and customer prospects now we are going default information of customer .We click on maintain menu then click on default information and next step is customer .

In the window of default information, there are five header fields like “payment term” which guide us about standard terms, set default terms for sale and set default for credit limit and second header is “account aging” this one tells us invoices aging and invoices categories and third default is “customer field” guides us about field label and field label is extra information of customers and forth default is finance charges which divides two parts one is charge finance charges and second is interest on finance charges and last header is pay methods .

In the Payment Terms, we select the standard terms and set default terms for sale and for credit term. Standard Terms include following things first of all

·        C.O.D Cash on Delivery mean we received the payment on the spot of transaction when we delivered the goods ,

·        Prepaid payment mean we received payment for customers in advance.

·        Due in number of days mean the payment is made within the discount days. 

·        Due on day of next month mean the payment is made on any specific date of next month.

·        Due at end of month mean the payment is made on the end of the month.

The second part of payment terms are set default terms for sale and for credit term.

For example if we decide the payment is being made within 30 days we use the tern “NET DUE IN” and say the customer if they paid amount within 10 days we give discount 2% and we write this term  “2/10/30”

Credit Limit is the permission which allows the customer of credit .If this exceeds the Peachtree accounting software issue waning messages.

We click on look up button and place the number of desired sales account on the black space and discount GL account mean to use the account which we want take discounts.

We use account aging for the aging of invoices and which aging brackets are used for account receivable. If we use invoice date we see old the invoice of each customer and if use due date we see how invoice overdue .

We use custom fields for the recording of customer details. The using of customer field for recording extra information of customer .If we wants field label active, we click on enabled and enter the data.

Finance charges area determined on the invoices of past due customer if charges are charged it will entered in statement

CUSTOMER PROSPECTS

MAINTAIN CUSTOMER PROSPECTS:

     After the set up a company and chart of accounts now we establish subsidiary account of account receivable, account payable and inventory we see on the top “maintain” menu click on it and open various options and keep the mouse cursor on “customer prospects”

  So maintain customer prospects opened , it consist of two parts one is header field and other is  five TAB area which includes general sales defaults ,payments defaults , customer field and history .

We also maintain customer beginning balances , where invoice number ,date , amount and accountreceivable must be fulfilled

 When  this window open some requirements must be fulfilled like customer id ,  name , address ,city, country , and if we save it without then a statement appears “it is not legal general ledger account” we automatically go on “sales defaults” and select the a GL sales account

This window also includes sales reprenstative open purchase order, resale number and pricing level which are  ten different levels and we select any one of own requirements.

In the payment default tab , if the payment is made on the basis on credit then we write “ credit card number”

The  forth tab is custom fields  where we write reference , mailing list , multiple sites and last option is not appears  and field labels can be changed and or enabled on the customer defaults wimdow .

Select the History tab to display the customer history including the invoices , payment dates and amount

Chart of Accounts

Chart of accounts

The chart of accounts is listing all of the accounts in the general ledger , each account is accomplished by reference number .

Maintain menu

When we open a Peachtree software, open existing screen appears then we click on browse  and open a company screen we select z drives and  we select a company name and on the top we see a maintain option we click on  and select chart of accounts

Reference

We select build own accounts that’s why we select chart of accounts after clicking on maintain option .

Correction in chart of accounts

There may be wrong entry in account ID, account description, or any account type .For correction in any account type or any account ID; we have to specific record to be correct. To open any record we will click    

IF there are any mistakes and errors in the chart of accounts we can check out by clicking on look up button  and correct the errors

If we write incorrect account ID type we select the changed key and retype the account ID type . We have to open a specific record  and after this we use Tab key and Alt S for the saving of data we click on OK .

If we write incorrect spelling of any account we edit the description  and use key of TAB and for saving Alt  + s

set up a new company

Set up a new company :

  First of all , we open a Peachtree software to establish a new company now we click on the “setup a new company” .

We see that new company setup introduction in which software asked you about company’s  name and address ,charts of accounts ,accounting period ,posting method and accounting method ,Now click next to continue.

In the next step , you have to type company information e.g. name ,address etc .Now click to continue

The next step is the charts of accounts , if you are interesting to copy software charts of accounts you choose first two steps , if you want to copy Peachtree or any other accounting software you can choose next two steps and if you are interesting to build your charts of accounts you can choose last one.

 After clicking the next button, you can see accounting methods of two types

1-Cash              2- Accrual

We select the accrual method because accrual income or expense weather paid and received or not. Once you choose accounting system you can’t changed. Now click next to continue

Next phase is to choose posting method, by selecting real time posting the transactions are posted to general ledger as they entered and saved .While in batch transaction are saved and posted as a group. You can change posting method any time. Now click on next button to continue.

Then in the next phase you have to select a accounting period. Normally we select a 12 month accounting period. Click next to continue.

You have to select the months when accounting period starts and the month when the first time transactions will recorded. Click on next button to continue

In the last step, Congratulation screen appear and click on finish the company set up completes.

how to open a file

Opening Microsoft Word Documents

We'll shortly add an address to the top of our Library Complaint letter. Before we do that, we'll learn how to open a file. After all, you might have closed down Microsoft Word, or your computer might have crashed. The result being that you no longer have your library letter loaded into Word. So here's how to Open a file you have saved, and want to work on again.

From the File menu, click Open:

The Open dialogue box appears, and looks like the image below:

The Open dialogue box looks very similar to the Save As dialogue box. "Save in", "File name", and "Files of type" work in exactly the same way as the Save As dialogue box. Notice, though that the File name text box is blank, and the Open button is not available. It has been greyed out.

The reason that the Open button is greyed out, and therefore not available, is that text box is empty. Once you select a file, the Open button will be ready for us.

But the text box is empty because no file has been selected. A file is selected from the larger white area in the middle. Clicking on the file once with the left hand mouse button will select a file. In the previous image, there was only one file available for selection - a document called "rrKeyCaps.doc". That is not the one we want.

To locate the file we want, we need to open the folder called "My WP Projects". Because that's where we saved it. You can see from the image that this folder is in the list of folders, just below the folder called My Pictures:

You can see also that we are in the folder called My Documents. To open up the folder we want, simply double click it. This will take us inside the My WP Projects:

The whole Open dialogue box now looks like this:

The file we want, Library Letter, has been clicked on. As a result, the Open button is no longer greyed out. We can go ahead and click it. When we do, our letter will open in Microsoft Word.

To recap then on how to open a file. Do the following

· Navigate to the folder where the file was saved

· Click on the file to select it

· Click the Open button

OK, now that you know how to Open a file, we can start adding the address to our letter.