Peachtree Financial Reports

Reports

Reports section is used to see company’s financial statements and other reports, these reports are given below to check repots you have to go to reports and then click on the related report that you want to see.

The above picture shows the heads of reports if you want to see subsidiary report you have to click the head report then subsidiary reports window will appears and on left side the heads reports again shows. This explanation is given below.

When you double click on the selected report the following window will popup and ask from you for what period you want to see your report as given below

When you select the period and report specification that you want to see the report will show as below

Here the above you can see the balance sheet report you can also change the report’s font header or names that you want, for this you have to click on the design button above the as shows on the balance sheet. When you click on the design button the following window will appear

You can change that you want suppose want to change company’s name then I should select the first header or double click the “$(company) $” area. When you double click the header or “$(company)$” area the following window will appear to change

Suppose I changed it as “Hussnain-Ali” and click ok button then the company’s name will change to this phrase.

You can easily see the below when I changed name as “Hussnain-ALI” This will shows on the top of the balance sheet because I selected the first “Header” button for changing.

Next step is, how to save this balance sheet with modified name. When you click on the save button the following window will appear

Here you can change your modified balance sheet or overwrite the standard balance sheet. When you modified the balance sheet with different name this will shows in financial sheet subsidiary reports list with new name that you modified. You can see the above explanation below.

You can also extract any report in Microsoft excel. To convert report on excel you should click on the “Excel” button that above shows. When you click on the excel button the following window will appear that show message to select period for which you want to extract you financial report.

When you select the period the final window for extracting will appear that ask you that either you want to convert report in new Microsoft workbook sheet or add in existing workbook. Select your workbook option and then click on ok button as the below image shows.

Global Option

Global Option

Global option is commonly used in peach-tree accounting software to increase the security or privacy and efficiency level (spell check) of company that using peach-tree accounting there are certain level which used to increase security level to gain this opportunity the company executive level person first of all go to the “option” manu and then select the “Global…” this procedure is given below you can easily understand with the help of step by step images as follows

When you click on global… option the following window will appear

This security and efficiency level divided into four categories:

1: Accounting

2: General

3: Peachtree Partners

4: Spelling

1: Accounting

In this section the following benefits to the user is available

Decimal Entry:

                In this section the user avail two options

                                Automatic: This option is useful want the user avoid to write in points

For Example: If you write decimal as 1525 this convert it into 15.25 if you select 2 decimals option and this decimal option can be selected up-to five decimals i.g 15.25111

                                Manual: If you select manual then the user have to write decimal after point using this symbol (.)

Take another example first I select automatic option from global option with 3 decimals and go to record any type of amount in my example I go in Receipt window to see the effect of this option

As you can see that I only type 12345678 in unit price Column and the software automatically consider it as Rs.12345.678 this is because I chose 3 decimals after point and I want to avoid the use of point (.) key again and again to save time and increase typing speed then you can chose up to five decimal option which means the software will show up to five decimals after point (.)

Note: usually most companies use manual option

Hide General Ledger Account

This option is useful for the companies who want to increase the company’s privacy internally. It means that if one employee of company has duty to maintain only Sales orders records he or she has no concern where Receivable’s record has been maintained. In short this option increases the company’s confidentiality level to avoid or at least reduce fraudulent activities.

For Example: If unchecked the account receivable option this means Account Receivables General Account will show in Quotes, Sales orders, invoicing, Credit memos, Receipts.

Same is the case with Account Payable General Account if I Unchecked the Account payable general account it will show in Purchase orders, Purchases, Credit memos, payments

Payroll Unchecked will show general account in payroll account

Let see with help of images

I am going to Sales orders to see this effect of Account Receivable General Account (hide or show)

As you can see that on right side in model center 112 is my Account Receivable ID, which show because I unchecked in the global option

If I select the Check box from global option for Account receivable then you can see the following result in which you can compare between above and below picture that in one (above) quote picture The account receivable general account shows but not in anther (below) picture

Now I’m going to Payments to see the effect of Account payable General Account (hide or show)

As you can see that on right side in model center 210 is my Account Payable ID, which show because I unchecked in the global option

Other Options

         i.            Warn if record was changed but not saved: it means when you type something but not save then warring to save message will pop-up

For example if you type Account ID in chart of account and go to type description and you suddenly you realize you type wrong Account ID and when you go to remove id the message will pop-up to save or not.

As you can easily see that I type wrong Account ID and go in description when I go back to remove Account ID the warning message shows

Note: If you Unchecked from global option this message will not appear.

Hide Inactive Records: this option enable user of user of software he can hide or show inactive records as we earlier sew inactive option in chart of accounts using Global option

Recalculate Cash balance option

If you select check box from global option the current cash balance will calculate automatically Receipts, payments and payroll. For example If I unchecked automatically recalculate option then I have to click on dollar sign ($) to see current balance of cash

If I Select Check box of recalculate automatically I not need to click Dollar sign ($) cash balance will automatically show and even the Dollar sign ($) can not be availed to click.

General Tab

General tab include four divisions first is

Improve Performance:

                    i.            Do not print full length of report : If you select this check box you can print a short repot quickly because this option allow software to show report of 12 pages print only in 2 pages.

                  ii.            Do not show quantity on hand in inventory item: Again this option is used to increase company’s confidential level in which an employee who has duty to record inventory item should not concern with how much quantity of inventory item company has on hand.

                                   

a)      Lets go to inventory to see with uncheck box. We can easily see inventory on hand

b)     Lets go to inventory item again after selecting check box option for do not show inventory on hand

Line Item Entry Display

        i.            1 Line:  If you select this option you can’t see the description that is written in your selected maintain chart of accounts.

      ii.            2 Line: This option is enable the user to see the description that is written in your chart of account for selected Account. In my example I have written “News Paper Exp.” And when I enter account ID for newspaper expanse the description  will show that is written in my Maintain chart of accounts

Note: you can easily understand with the above images comparison that if you select 1 Line your description will show only in one line that you currently written And if you select 2 line option you will see tow descriptions one that you currently written with the previous description that is written in the chart of accounts.

Smart Data Entry

        i.            Automatically field completion: this is a check box if you select this option the software allow the user to write only one letter of word in any look-up button section and remaining word or sentence will automatically completed. But if you uncheck this box option the remaining field not completed automatically

As you can easily understand from above pictures that in first picture I only write the Alphabetic letter “N” and the software completed it with “N001” and go to its account ID place. If I Uncheck Automatically field option then you can see in second picture I write Alphabetic letter “N” butt it not completed automatically with “N001” and nor went to account ID place.

      ii.            Drop-Down list display automatically: this check box option is also relate to look-up button section, as you can see from above picture if you select check box option this will drop down a list where you can see all account ID with their descriptions but if you uncheck this box the list will not drop-down as you can see in the picture below

You can easily judge from above picture that there is Automatically field completion option is selected but Drop-Down list display automatically option is not selected because I write Alphabetic letter “N” and it completed automatically up to “N001” but the list is not drop-down and nor went to account ID place. I have to click manually on the look-up button to see account ID and their descriptions.

Color Scheme: This option is used only to change some colors of peach-tree software there are five options available you can change color accordingly. When you select any option out of five available color options by clicking on radio button you have to restart this software to change the effect of colors.

For Example: if I Select professional option out of five and restart this software the color will look like that as below.

Rest all one-time message Reset option: this option allow user to see all messages again that he select not show again.

Peach-tree Partners Tab:

This tab increase the security level of Peach-tree software

Peach-tree Partners Security Level: In this section there are three options can be chosen with the help of radio button, these option are as follows

        i.            Low: it means Peach-tree partner software automatically run e.g. stamps

      ii.            Medium: it means software will ask you before running any partner software.

    iii.            High: it means there is high security level and not allow any other partner software to run.

Spelling Tab:

This section of software relate to spelling checking that you type for this purpose there are tow option available (i) check spelling when you type (ii) check spelling when you typed and click on save button.

If I select check spelling when save the following window will appear to select spelling.

There is other option related accuracy in three types

        i.            Fast but less accurate

      ii.            Moderately fast and accurate

    iii.            Slow but accurate.

There is also running option: you can chose these option as you want to treat with your spelling.

In the end last you can add dictionary if you think the software has not efficient dictionary as you want.

General Journal Entry

General Journal Entry

We use General journal entry section of peach-tree accounting software to record the Adjusting entry at the period ended. This General Journal based on dual affect which means if any item debited another item should also credited with the specific amount. In this journal the amount of Debit Entry must be equal to the amount of credited Entries or vice versa. To record Adjusting entry first of all you should go to “Task” manu and in task manu you should select “General Journal Entry” as this procedure is given below with the help of images.

                                            

When you click on “General Journal Entry…” the following window will appear in the form of journal

                               

In this section the following information must be provided to the software to record affect in financial records:

Date: Here you can select the date when you want adjust your financial records with specific entry

Reference: Here you can give any reference for this adjusting entry

GL Account: This is most important section which should be filled carefully, Here you have to select tow              General ledger Accounts respectively one General account is should debited and other must be credited or vice versa, record the dual effect of this adjusting entry.

Debit: Here you should enter the specific amount which you want to debited

Credit: Here you should enter the specific amount which you want to credit.

Example: In my example as you can se in the image the entry will be look like that

  Depreciation Expense-Equipment Accounts                             Rs.25000                       

                Accumulated Depreciation-Equipment Accounts                         Rs.25000

In the last you should Click on the save button to record this adjusting entry.

Assembly

Assembly section is used when you think that your current finish goods inventory can not a sales order or any other reason and now you want to increase your current finish goods inventory.

In peach-tree accounting software you have to go to tasks manu and then click on assembles...

When you click on Assembles… following window will appear

Date: when you build your assembly item e.g. Computer of 001 model

Reference: Enter reference number for information purpose

Item ID: Select the assembly item that you want to assemble when you select item it will show you full name of item and the following thing:

Quantity on Hand: you can see that this software shows quantity to build this item that you have in your stock.

Quantity to Build: Here you enter the quantity that you required for assembly to convert finish goods purpose. You must enter a valid quantity up to maximum that you have on hand. If you enter quantity more than you have in stock inventory and click on save button the software will show the a message which tells what inventory you don’t have to complete your finish goods process.

New Quantity: It is the quantity after adding new quantity required to build with quantity on hand.

Reason To build: Here you can give information or reason for what purpose you want to build new assembly item.

This procedure can be seen below

I have quantity as 30 on hand to build computer

Entering more than that I have and giving Reference number and giving date.

Click on save button then following window will appears

Them message is written below

As of [Date] there are not enough of [stock item], to build the number of [Assembly item] that have been requested.

In my example Date is Apr, 1, 2013,

Stock is [MB001] which is Mother Board to build computer [C100] this model.

It means that I have not enough mother boards to build this computer so I should select quantity that I have as explain below

Now Click on save button to save this.

Credit Memos

Credit Memos…

Credit memos is the abbreviation of “Credit Memorandum” also called “Credit Note”.

Credit memos are used when Customer or buyer of your company don’t want pay full amount that is written in the invoice.

There are many reason in which customer doesn't want to pay full amount as written in the invoice:

1: Return goods by buyer

2: Taking allowance

3: There is dispute in pricing etc.

Note: If Seller received credit memo and record it. The ultimately affect in the financial statements is that the Account Receivables of seller will be reduced.

To record Credit memos in peach-tree complete account software, first of all you have to click on task Manu and then select “Credit Memos…”

Note: You should select “Credit Memo…” and instead of “Vendor Credit Memos…”

You can see this procedure from the below image

When you click credit memos… the following window will appear.

In this window you should fill following information sections

Customer ID: you should select your customer who sends you credit memo.

Date: select date that is written in credit memo

Credit No. Give credit number for your customer

Customer PO: enter purchase order number if any for you customer.

Apply to sales: This option is used when you not issued sales invoice number to you customer and sells goods to customer but out of sales goods he wants to returns.

Here you have to give following information:

Quantity: Enter quantity that you sell

Item: Select item for which credit memo received.

Unit Price: Select unit price in which you sells goods previously.

After entering all in formation click on save button.

This procedure can be seen below with image

Apply to Invoice: When your customer purchase from you on credit basis and you give him invoice then that invoice can be used to reduce the amount for goods returns.

If there is any balance of your customer that he will pay you near future because of credit purchase from you and he have invoice number and when you select that customer in credit memos the option of “apply to invoice number” will automatically appears that will be look like that

Here you should select Invoice number to apply credit memo transaction and should only enter the return goods remaining part automatically fill up.

Note: when have not any invoice number you can only use apply to sales option and if you have invoice number that issued to customer then you will be able to select apply to invoice number option and you can also use apply to sales if there is any sales return other than invoice numbered.

Quotes/Sales Orders

Quotes: Quotes are usually written on the request of buyer (our customer) in which we gives detailed information about our product that we sell in the market.

To make Quotes In peach-tree you have to go tasks manu and open Quotes/Sales Orders and then click on Quotes…

When you click on quotes... the following window will appears on screen

In this section you have to fill some information to send quotation to customer when he required:

Customer ID: Here you can select you customer who required quotes information

Date: In this section you can select the date when you prepare quotes for customer

Good Thru: Here you can select the date when this quotes expire for this quote no.

Quote No. Here you can select quote no. for customer and this quote. If you not select quote no. this peach-tree software will auto select quote no. in a series.

Terms: Terms that you want to compensate to your customer as purchase within period discount.

Quantity: In this section you can enter the quantity that your customer required.

Items: select items that you have and your customer want to know about those price for purchase.

Unit price: select unit price for your item for sale.

Sale Tax: if there is a sale tax imposed by government on per unit product that you sell in the market, you can enter it in this section.

Sales Order:

                Sales orders are the written statement. Company record sales orders in the software when customer wants to purchase goods from company, usually customer make sales order after carefully reading of Quotation that sent by company to customer. We can say that sales order is a response to Quotations. But customer can write sales order goods without taking quotation, if he is the loyal and old customer of company because he already knows all terms and conditions of company. If company has a customer abroad then company must write quotation and then customer response to the quotation as sales order (according to Pakistani law for goods).

Now we assume that company received a sales order from that customer to whom quotation is not sent and we have to record sales order in peach-tree software.

First of all you have to go on task Manu then click on Quotes\sales order... and then select Sales order from its sub Manu. This procedure is given below in the image

When you select Sales Orders… the following window will appears

Here you have to give some important information to record sales order in the software.

Customer ID: Here you can select you customer who gives you sales order.

Date: Here you can select date when you received sales order from customer

Ship by: Select this date carefully because this is the date when you have to send goods to your customer and your sales order expires.

SO No: Sales order number you can select for your customer. Once you select sales order number first time for your customer then another time when you blank this field the software will automatically fill it with series that previously written.

Quantity: Here you can only enter quantity that your customer required in the sales order.

Item: Select item that your customer wants to purchase from you as goods.

Unit Price: Enter a valid unit price that you tell to your customer.

Sales Tax and Freight: Enter sales tax imposed by government on per unit sale and if you enter sales tax then you must select General Account for Sales tax.

Enter freight charges that company bears to dispatch goods to the customer’s place.

Convert Quotes to Sales Order

In the above discussion you can easily understand that all fields in quotes and sales order are same except quote order number and sales order number. So it is possible that when you send quotes to your customer he will response with sales order then it is easy for you that you can convert your quotes to the sales order.

Now we assume that we already prepare and send quotes to the customer and he response with sales order.

To convert your quotes to sales order you have to visit and select quotes that you already prepare and send to customer as below this procedure explained with image.

Then the following window will appears

You can use left and right arrow button  key to select quotes that you wants to convert.

Click on left button to select previous quotes

In this window there is a Convert button above in the picture when you click on this button the following window will appear

There are three options:

Sales\Invoice: Select it if you want to convert your quote into sale/invoice.

Sales/Invoice and Print now:  When you want to convert you quote into sale/invoice with printing option you can use this option.

Sales Order: when you want to convert your quote into sales order then select this option, there you have to give sales order number otherwise computer automatically fill with previous series. When you select sales order and give sale order number then click on ok button.

When this process is completed, go to the sales order again to see your converted sales order with the help of two arrows. This procedure is given below.