How to Maintain Vendors Account On Peach Tree

How to Maintain Vendors Account On Peach Tree

Open an existing company on peach tree accounting software. Go to maintain menu and click on the vendors account.

Following window will appear.

In this window. First of all we will enter the vendors ID and his name. when you complete this information then save it.

To enter basic information about the vendor such as

·        contact information

·        address

·         phone and fax numbers

·        Beginning balances

Select the General tab in the Maintain Vendors window.

·        After that, we will select the purchase default tab. In this tab, the necessary information is purchase account. We will write the inventory account ID instead of purchase account that we have maintained in chart of accounts.

·        In Purchase Rep You can enter or select an employee to act as the purchase rep for this vendor.

·        In  the Tax ID no. we will write the vendors tax no. this is not necessary.

·        In Ship Via Select the primary shipping carrier that this vendor uses for items.

·        In terms we can choose the pattern of payment that how we may get discounts. We can also change it.

In delivery method, we can choose paper form or E-mail.   CC Purchase Rep: Select this to automatically send an e-mail copy of the form to the default purchase rep whenever you send a form to the vendor.

The next tab is custom field. We will enter the information of selected vendor.

Next tab is history. To check the history of our vendors, we have to enter the following information.

·        Last invoice date

·        Last invoice amount

·        Last payment date

·        Last payment amount

Maintain Customers Records

Open an existing company on Peach tree accounting software. After that go on maintain menu and click on customer/prospect.

After that following window will appear.

We will write the customer ID and Name in bars of header field according to the data given.

In the header field, there is also option of prospect and Inactive. We may select the option of prospect if the customer is dealing with and Inactive for the customers who are not the active customers.

In the information bar, first option is General.

 In general bar we give the general information about our customers. Like contact, address, country, telephone no. and E-mail.

In Bill to address, we save the address of our customer to whom we are going to deliver the goods. It has 10 options in which we may save the record of at least 10 customers.

The next option in information bar is sales default. In this window, the information of general ledger sales account is necessary. We must write the ID of sale account that is maintained in chart of accounts.

1^st option is sales rep. and it means the agent of a company. His name must be mentioned.

3^rd option is purchase order no. we must mention the number of purchase order in this box.

Next option is payment default on information bar.

·       1^st we have to write cardholders name

·       Address of cardholder

·       City

·       Country

·       Credit card no.

·       And last is expiry date

4^th option in information is custom fields in which we can save more information about our customers. There are five options available that we can change according to our need.

Last option is history and in this window we can see the status of our customers. Like

·       Last invoice date

·       Last payment date

·       Last statement date

To change these information or edit this information we can go to maintain menu then default information and select customers from sub menu.

By clicking on customers, following window will appear.

In this window, 1^st option is payment terms and it includes,

·       C.O.D (cash on delivery)

·       Prepaid (if the customer paid before

·       Due in no. of days (if it would be paid with in specific no. of days)

·       Due on next month (if it would be paid on next month)

·       Due at the end of the month (if it would be paid on last date of this month)

In front of these options, there is option of discounted period and maximum days in credit limit.

·       1^st is Net due in(it means the maximum credit limit)

·       Next is Discount in(it means the customer can get discount if it pays within discounted period)

·       Discount%(it shows the percentage of discount)

·       Credit limit(it includes the maximum amount of credit that a customer may get. Software will send you message if you accede the amount of credit limit)

At the last of this window, there is option of General Ledger sales account and Discount General Ledger sales account. The ID of sales account would be written here that we have already maintained in chart of accounts.

The next option is account aging.

Here we can enter the pattern of due days of credit limits. 1^st option is Invoice date. By selecting this option we can limit the no. of days on credit from write the date of invoice.

The 2^nd option is Due date. In this option we can group the customers after the expiry of due date.

At the last, we can categorize the age of debtors and can select the days according to the nature of business.

The next is customer field. It can be used to enter extra information of customers. We can write or change the information according to need.

The next window is finance charges. If we want to charge fine on the credit amount after due date then we can enable 1^st option in this window and can select the amount and rate of interest.

The last window is pay method. You may add up to 10 methods of payment that your business accepts.