How to maintain Customer prospects in Peachtree

Now we will learn about the next step which is “Maintain Customer/ Prospects”

For this purpose we will go to “Maintain Menu” and click the “Customer/ Prospects”.

Window below showing that how to reach the option?

After clicking on this window we will learn how to maintain your customer records.

After clicking on this option you will see following screen will display on your monitors

In this window you have to fill the data of your proud customers.

·        Customer ID

·        Customer Name

After filling this you are going to fill the first tab below the ID and name of customer.

·        Customer contact #

·        What is customer type (specified by your own companies)

·        Telephone , fax , email address and website URL address

Then fill the information about “Bill to Address”

·        Customer Address

·        City and Zip code

·        Country

·        Sales tax ( as rate of sales tax apply in the country)

If you are entering about an existing customer you will have its opening balance. Button of opening balance is also there

After filling all the information click the next tab “Sales Defaults”

This window you will see on your screen

You will see these options

·         Sales  Rep

Its mean who is the sales person’s ID dealing with this customer.

·         GL Sales Account ( select your companies revenue account)

·         P.O #

·         Resale #

·         Price level

If any term related with discount then mention it also.

Then move on to the next tab “Payment Default”

In this tab define the method of payment by your customer if it is on credit card then fill the following information

·         Cardholder’s Name

·         Address

·         City, State, Zip

·         Country

·         Credit card Number and date of expire.

·       

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After completing this information go to the next tab

“Customer Fields” 

It is required the further information about your customer like their second contact, references, mailing list and other sites address.

Then click on the next tab

“History”

In this window you will check the history of your customer’s transactions

·         Customer since

·         Last invoice date

·         Last invoice amount

·         Last payment date

·         Last payment amount

And other info about your customer history

Click on “Maintain” in Menu bar and select the “Default Information” and in it go on “Customer” 

When you click this window you will see the following screen.

“Payment Terms”

 This tab tells us about terms and conditions pf payments and your company’s policy about receiving payments. Following heading is there

·         C.O.D ( cash on delivery)

Means your company receives cash when it delivers the goods to the customer. Limits is there that you can make a delivery on up to that amount in shape of “Credit Limit”

·         Prepaid

You received always in advance while making a delivery of goods. Limits is there that you can make a delivery on up to that amount in shape of “Credit Limit”

·         Due  in number of days

Its mean if due date in days  you are going to specify the date and count the number of days. And if any discount term there also give the percentage and discount period. Limits is there that you can make a delivery on up to that amount in shape of “Credit Limit”

·         Due in day of next month

In this we specify the date of the next month when it is due. And if any discount term there also give the percentage and discount period. Limits is there that you can make a delivery on up to that amount in shape of “Credit Limit”

·         Due at end of month

It means what is the due date after one month after sale. And if any discount term there also give the percentage and discount period. Limits is there that you can make a delivery on up to that amount in shape of “Credit Limit”

The select the sales general account id for correct recording and if sales discount is avail then also give the id of discount general account.

After filling this information click the next tab

“Account Aging”

You will see the following window after clicking next tab

In this window select your company’s policy according to the aging of your debtors while you are aging your customer from Invoice date or after Due date.

Then do their aging according the time after due date or from invoice date

Just like

30 days                                    0-30

60 days                                    31-60

After completing your aging process click to the next tab.

Customer Fields

Its required the further information about your customer like their second contact, references, mailing list and other sites address.

After completing this information go for next tab “Finance Charges”

In this tab you will find out the financing charges you are taking from your debtors

You will see the days over due and amount up to in $

·         Take the interest on the due amount

·         And if there is a balance above due then charge another rate on the balance amount

·         Specify the minimum limit of interest which is charge

When we complete the financing charges tab we move to the next tab

“Payment Method”

In   in this window you will see the method of payment by the customer to pay for our company

·         Cash

·         Check

·         Visa

·         Master card

·         Amex

·         Discver

                             How to enter the beginning balances on Peachtree

First the process starts when we enter all the charts of accounts correctly with their IDs and their types.

Note: while recording the beginning balances we ensure that Retained Earning account is saved in charts of accounts because if we did not enter or save the retained earning account Peachtree will note save our other accounts balances so the whole process will repeats. So we have to save the account of Retained earnings should be saved first.

When we record the all the charts of accounts and then we have to enter the opening balances of all charts of accounts and here are some important points in recording the opening balance.

After recording the charts of accounts we click the button which is visible on our screen “Beginning balances”

It will show the different date that are for recording your accounts balances and select the date while selecting the date read the following

·         Date of recording on the when we have to enter the all charts of accounts.

Date of recording is very important in recording the beginning balances so if we are given the data of 1^st of January 2009 so we have the opening balances of January 1^st

When we select the date we select December 1^st to December 31^st 2008 because data is recorded from December 1^st to December 31^st 2008. It is very important while selecting the date.

When we select the date we enter all the balances of all accounts. It should be balance both side after enter all the balances and press “OK” option to save data. If sides are not equal then you have to repeat this process and check your figures again.

If we did not save retained earning account you will not able to save your data and you have to repeat all the process again for saving your data.

Maintain Vender

In Peachtree we also maintain our vender’s data. For this purpose we go on the “Menu” bar and click on “Maintain”

And in “Maintain” click on “Venders”  as it is showing in the following picture.

After clicking this Venders option you will find following window on your screen.

Following buttons you will find on the top of this window.

Close, Save, Delete, Change ID, New, Event, Log, and Help

In this option you can add, delete, or change the information about your venders.

 In this window you will find four tabs, Vendor ID and Name.

                General                  Purchase Default                 Custom Fields                       History

General

In this tab you are required to fill the following information for your vendor and you can change you will this information if it required.

·         Contact

·         Account #

Ledger # or other number specify by the company

·         Address, telephone, Fax, E-mail ID, Web address

·         Venders type, 1099 type

It is a standard used by the companies in the U.S.A. for their venders.

·         Country, City, St Zip

·         Beginning balance of the vendor account

Purchase Defaults

When we click on the next tab “Purchase Default” following window will appear.

This window includes  Vender ID, Name and following information.

·         Purchase Rep ID

The person who is dealing with purchasing the inventory or services on the behalf of your company.

·         Purchase Account

In this you will have to give the inventory Account ID.

·         Tax ID, Delivery Method

·         Credit Terms

After filling this tab we will proceed further to the next tab.

Following screen will appear.

Custom Fields

 In this tab you will find about office manager of your venders company who is our account representative in venders company.

After completing custom fields tab move further to the next tab

History

In this window you will check the history of transactions with your vender

·         vender since

·         Last invoice date

·         Last invoice amount

·         Last payment date

·         Last payment amount

Inventory Items

 Inventory items helps us to record our selling or buying of inventory and update the quantities after every posted transaction. For this purpose Peachtree helps us to maintain the proper record of our inventory items.

Process of maintaining “Inventory Item”

Click of “Maintain” in the menu bar and then click on “Inventory items” tab.