Maintaining purchase order and Purchase/ receive inventory

Maintaining purchase order and Purchase/ receive inventory

Maintaining purchase order

For ordering our vendors to send us goods we must send them a purchase order. This purchase order is maintain in a specific order.

Follow following steps to maintain a purchase order.                                                       Click the task button in main menu and select “purchase order” from drop down menu.  

      Or you will find navigation Ads in left side of main screen of Peachtree. Click it and we open the new window

      Here we need to click on purchase order’s button with picture. A new window will appear in front of you.

     Main heading in this window is vendor ID. Put the vendor ID in blank space from where you are going to purchase something.

      When you enter the id of vendor, ship to columns will automatically filled by system. This area is for the address of vendor.

      Enter the date of making this purchase order.

      In Good Thru tab select the data of goods delivery.

      If you have enter any discount amount in your default then discount bar will automatically filled with that numbers.

       You must enter the PO number because this is the most important. If you don’t enter PO number then you can’t see your purchase order in reports.

  In quantity column enter the quantity of goods demanded.

  Enter the ID of that good demanded in ITEM column.

  Description will automatically fill with name of those goods.

  GL sales account ID will be filled if not then you should fill it.

  At last enter the per unit price of that good. System will calculate total automatically.

   Save the purchase order.

If you want to edit purchase order

  Then click the open button at the top of purchase order double click vendor name or ID and select the purchase order for editing.

Purchase/ receive inventory

When you send this purchase order to your vendor and he deliver goods in response then you maintain a purchase/receive inventory.                                                                     To go to purchase/ receive inventory first of all go to task button and select purchase / receive inventory.

A new window will appear in front of you.

      Here first of all enter the vendor ID and tow tabs over the columns will change to your vendor.

   Now select the one of your purchase order from the list that is in front of apply to purchase order no. tab.

     When you select one of your purchase orders it will be in front of you.

     In this purchase order I have ordered for 300 units of glue.

     Now if vendor deliver me the 200 units of glue then I will enter 200 in received column or if he delivered 300 then I will enter 300.

     In customer invoice number enter the number that your vendor has allotted you for this purchase order.

     And save it.

This is all

Peachtree - Accounting Software - Setup of Company

Peachtree - Accounting Software - Setup of Company

Setup of a Company

After the start of the program the following screen will appear. To establish a new company click “Set up a new company” option and follow the next instructions.

Following introductory screen will appear to guide you the rest of the process.

Now by clicking next you have to type the company information such as name, address, Telephone no., business type etc.

Again by clicking next you can chose among several methods to setup the charts of accounts. Here you can chose charts of accounts already developed by the software of many sample companies, or you can copy charts of accounts from existing Peachtree company or another accounting software compatible with Peachtree or you can build your own charts of accounts.

The next step will be to chose “Accounting Method”. There are two accounting method Cash and Accrual. Accrual method is usually followed, where we accrue expense and income weather paid or received or not.

 

Next phase will be to chose the “Posting Method”. By selecting the Real Time posting method the transactions are posted to the General Ledger as they are entered and saved. While in Batch, transactions are saved by the program and then posted in a group. This allows you to print and reconcile the transaction and then to save.

Then in the next phase you have to select the accounting period. Normal accounting period is 12 month accounting period.

In the next step, you have to chose the month when the accounting period will start and the month when first time the transaction will recorded

 

By clicking next “Congratulation” screen appear and by clicking Finish the company set up completes. 

Maintenance of charts of accounts

Maintenance of charts of accounts

Maintenance of Charts of Accounts:

è Open Peachtree from your desktop icons.

è A window will appear that will be having different options as you are now going to maintain the charts of accounts of the existing company so you will select the first option that is “Open an existing company”.

è After clicking on the first option one more window will appear which will ask you to browse the Peachtree account whose charts you want to maintain.

è Click on the “Browse” option on that window a window will appear displayed by the name “Open Company”. There will be an option “Drives” select the drive in which you have saved your company’s data. After selecting the drive you will see that drive and the company you had saved will appear directories. Now you have to make that in directories only the drive folder should appear as a open folder. Select the Company from the “Companies” option on the left. And than press “Ok”. 

è You can see that your company is now open.

è Now, for the maintenance of the accounts you have to click on the “Maintain” button on the top bar or you can say tool bar.

è The forth option after clicking on will be “Charts of Account…” click on that option. A window will appear displayed by the name “Maintain Chart of Accounts”. Now here you can maintain your accounts.

è “Account ID” is the ID given to different accounts by Peachtree itself after entering that click on the “Tab” button from your keyboard. “Description: requires the name of the account and after entering that click on the “Tab” button from your keyboard. “Account Type” will require the type of the account it belongs and for entering the type press the key that its type starts from like for “Equity” you will press “E” from the keyboard, Press it twice or thrice until the equity appears in the “Account Type” after entering that click on the “Tab” button from your keyboard. In this window we have to provide just these three things for every account. And for saving the account information we will press “Alt+S” key from our keyboard than the Account ID you have already entered will be highlighted which means your account is saved and than you can enter other accounts id. 

è After adding all the accounts, you can search any account by clicking on the “Magnifying glass” option that is present in front of “Account ID”.

Note: The difference in ID’s is due to the reason that maybe you have to add further accounts that are sub-headings of the previous accounts like Cash’s Id is 100 than Cash in hand i.e. is the sub-head of cash will be given 101.

è After saving all the accounts if you think that you have added the wrong Id of an account than click on “Change ID” option on the menu bar of that screen. Enter new “Account Id” and press “Ok”.

è Or you think that you have entered the wrong “Account Type” than “Double Click” on the account change the Type and than click on the “Save” button on tool bar of that window.  

è If you want to see all your accounts that are saved click on the “Reports” button on the tool bar.

è Click on the forth option the forth option that is “General Ledger”. A window will appear displayed by the name “Select a Report”. Double click on “Charts of Accounts”.

è A window will appear that will show all your accounts that you are going to maintain for your company and this will also provide to see your companies information. 

How to Maintain Beginning Balances:

è After saving all the charts of accounts. Open Maintain and than Click on forth option “Charts of Accounts”.

è A window will appear displayed by the name “Maintain Charts of Accounts”. Click on “Beginning Balances” option on that window.

è A window will appear displayed by the name “Select Period”. In this you have to select the period whose entries you want to enter. If I am entering data on the date 1^st January, 2010 than I wouldn’t select the period “1/1/2010 through 1/31/2010” because otherwise it will become the Closing Balance of that month and here we are entering the beginning balances and the beginning balances for 1^st January, 2010 will be the accounts maintained on 31^st December, 2009. So we will select the period “12/1/2009 through 12/31/2009. And click “Ok”.

è Now a window will appear displayed by the name “Charts of Accounts Beginning Balances” And before entering data we have to check that whether we have created the Retained Earning account. If there is no Retained Earning account than the software would not accept our Balances. And if there is any difference present in balance sheet than it will be written in “Trial Balance”.

maintain purchase order and

received inventory

In order to maintain purchase order 1^st thing is to make the vendor account to whom purchase order is issued and also to maintain the inventory item to be purchased. We can make vendor account and inventory account from the  help of following windows:

Then we will make a purchase order of that vendor to whom purchase order will be issue. From the task option on the left hand side of window select purchase order:

                                     

The following window will appear in order to make purchase order:

                     

You need to provide that appropriate vendor id that was allotted to vendor when maintaining the vendor account. The next thing is to provide that appropriate date when to making the purchase order along with that date when you need the goods to be received. Then you are required to allot a purchase order number to the order. Then bellow is the quantity of goods being ordered by the vendor. Then next thing is the quality of goods ordered by customer.

Next thing to do is to receive those goods from the vendors.you need to select the purchase receive inventory from the task bar in this regard:

                                  

Following window will appear on secreen:

                        

Here you need to enter the same vendor id to which purchase order was issued. Then you need to enter the date of receiving those goods and then the invoice number which is issued by the vendor. Enter the quantity that is received by vendor. Note that the quantity received can be less or more than the quantity demanded. Then the item of the goods is selected which will automatically adjust the unit price and amount that is received.

                       

This is an order transaction being recorded that’s why it is showing past due on the window. Similarly if u are purchasing more from that same vendor then all the process will be repeated we will provide new purchase order number, quantity, item ( if different item is being purchased) and so on and then in receiving inventory window we have an order to receive the goods. In this way goods are received.

Payments:

Payments:

       Peachtree accounting    software

Ø   Payments:

This is all about payments procedure. it includes different steps ,

·         Step 1 : first you have to open Peachtree accounting software and start a existing company setup. when you click on existing  company then this window will open.

·         Step2: click the option of “Navigation Aids” then this window will appear.

When this window will open then click the option of task mentioned on upper headings.

·         Step 3: after click on task menu option

When you click on task then click on payment option.

·         Step 4: payment option

When you click on payment option then this page will open. On this page there are many options

·        Vendor id

·        Search bar

·        Address

·        Check number #

·        Date

·        Currency

·        Cash account

·        Cash account balance

·        Apply to invoices

·        Apply to expense

·        Memo

·        Quantity

·        Items

·        Description

·        Unit price

·        GL account

·        Amount

·        Job

·        Payment

These all are the option on which you can enter your required or needed information;

·        Step 5: enter data on payment option page

In this window you have to select vendor id number # in search bar menu. Then enter the address. Then enter the check number#, date, cash account# etc. there is an option of discount rate. When u enter that date on which you are restricted to payment then you get discount. If you will not liable to pay with in the required days then you will not get the discount. When you click on pay option then this window will show on upper side.

When you click on save option without making the discount account then your data will not saved. You have to maintain first purchase discount account then click on save option.

Click on purchase account and click on search bar and then click on new. Enter the id#, description and account type and save it. Return back on payment option page and enter the account number # in purchase account and save it. This is all about payment.