Changing accounting periods and the system date

When recording transactions it is important for reporting purposes that the information be recorded in the correct accounting period. Sometimes this means that accountants need to change accounting periods or the system date to record transactions. Fortunately this is easy to do in Peachtree. Read this section to find out how!

Changing accounting periods

To change the accounting period, simply click on the accounting period icon in Peachtree's main window.

This will bring up the following Change Accounting Period window:

Here, you can select the date of the accounting period you wish to open, then click the OK icon. You are then able to enter transactions into the required accounting period.

Changing the system date

In your Peachtree Practice Set, it is likely that you will be required to enter transactions for a month that is different from the actual month when you are completing the practice set. If this is so, you may wish to change the system date in Peachtree so that it matches the month in your practice set.

To change the system date, in Peachtree's main window, click the system date icon.

This will display the Change System Date window. Here, you can either type in the date or click the calendar icon to bring up a calendar as shown. Select the date, then click OK.

Note that the system date in Peachtree is not the same as your computer's date so changing Peachtree's system date will not affect the dates of other programs you are currently running or planning to use in the future.

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Add an item of inventory

Before you are able to record transactions relating to inventory, you first need to set up your inventory items in Peachtree. This topic shows you how to add an inventory item into Peachtree, and how to modify or delete an item of inventory should the need arise.

Add an item of inventory

To add an item of inventory into Peachtree, open the Inventory & Services Navigation Center in Peachtree. Click the Inventory Items icon and select New Inventory Item from the drop down list provided.

This displays the Maintain Inventory Items window where you can enter the details of the inventory item into Peachtree. The following screenshot and reference table show step-by-step instructions on how to enter an inventory item into the Maintain Inventory Items window in Peachtree. Note that each step is assigned a reference number to help you identify the appropriate field or icon in the screenshot.

The Maintain Inventory Items window with reference numbers

Step	Peachtree field or icon	Action
	Item ID	Enter a short identification code for the item of inventory.
	Description	Enter a short description of the item of inventory.
	Item Class	Select the class of the item from the drop down list provided. For items of inventory to be resold you should select 'Stock item'.
	General tab	Enter the relevant information about that item. Note that for stock items you do not need to enter information into the Last Unit Cost field. Peachtree will automatically update this field when youenter the beginning balances of inventory items into Peachtree as described below.
	Other tabs	Enter the required information in the other tabs. Note that if the Item Class selected is Stock item, you are unable to enter any information into the Bill of Materials tab or the Item Attributes tab. This is because the Bill of Materials tab is used only if the Item Class selected is Assembly, while the Item Attributes tab is only used if the Item Class selected is Master Stock item.
	Once you have entered the information in the Maintain Inventory Items window, remember to review your entries and save the item of inventory by clicking the Save icon.

Helpful Hint!

If you are completing thePeachtree Practice Set, you only need to use the General tab to enter the inventory information provided.

Enter the beginning balances of inventory items

If you are transferring your existing accounting records from another accounting system into Peachtree for the first time, after adding the inventory item into Peachtree you will also need to enter the beginning balance of each item of inventory. You can either enter the beginning balance of each item as you create the item using the Maintain Inventory Items window. However, if you are creating several items of inventory at once, you may find it more efficient to enter the beginning balances of these items altogether at the same time.

To enter the beginning balance of each inventory item, click the Beginning Balances arrow down the bottom right hand corner of the Maintain Inventory Items window.

This will open the Inventory Beginning Balances window. The following screenshot and reference table show step-by-step instructions on how to enter the beginning balance of an inventory item into the Inventory Beginning Balances window in Peachtree. Note that each step is assigned a reference number to help you identify the appropriate field or icon in the screenshot.

Step	Peachtree field or icon	Action
	List of Inventory Items	Select the item of inventory from the list by clicking on it.
	Item ID and Description	Note that the Item ID and the description of the item selected appears at the top of this screen. Confirm that you have selected the correct item that you wish to enter the beginning balance.
	Quantity	Enter the number of units of that inventory item on hand in the Quantity field.
	Unit Cost	Enter the purchase price (unit cost) of one unit of that item of inventory.
	Total Cost	Notice that Peachtree automatically calculates the total cost of that many items of that type of inventory.
	Scroll bar	Use the scroll bar to scroll down to select the next type of inventory to enter the beginning balance.
	Total Beginning Balances	When you select the next inventory item to enter the beginning balance, Peachtree automatically recalculates the total beginning balances of all inventory items held by the business.
	Once you have entered the information in the Inventory Beginning Balances window, remember to review your entries and click the OK icon to save the information and update the inventory totals.

Alternative ways to enter the beginning balances of inventory items.

The instructions above detail how to enter the quantity and unit cost of each item of inventory. However, you are also able to enter the quantity and then the total cost of all of that type of inventory item. Peachtree will then automatically calculate the unit cost of the item.

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Modifying or deleting inventory records

After you have set up your inventory records you may need to alter the information recorded in them. For example, a particular item of inventory may prove extremely popular so you may want to increase the minimum stock or reorder quantity of that item. Or you may find that you need to delete an inventory record for some reason. Read on to find out how to modify or delete an inventory record.

Modifying inventory records

In order to modify the inventory record you simply open the Maintain Inventory Items window for that item of inventory, make the required changes, and click Save. But how do you open the Maintain Inventory Items window for a particular item of inventory? There are several ways this can be done.

Possibly the quickest way is to find the name of the inventory item in the Inventory list in the Inventory & Services Navigation Center. Double click the name of the inventory item to open the Maintain Inventory Items window for that item of inventory

Alternatively, you can click the Inventory Items icon and select View and Edit Inventory Items from the drop down list. This will open the Inventory List window as shown below. There you can double click the inventory item to open the Maintain Inventory Items window for that item of inventory.

Note that there are other ways to open the Maintain Inventory Items window for a particular item of inventory. We encourage you to explore Peachtree to find the way that best works for you!

Deleting inventory records

To delete an inventory record in Peachtree, follow the steps above to open theMaintain Inventory Items window for that item of inventory. Once open, click the Delete icon. You will be asked 'Are you sure you want to delete this record?' Clicking Yes will delete that inventory record from Peachtree. Note that you are not able to delete an item of inventory if any transactions have been applied to that item. However, if you have transactions recorded for an item of inventory that you want to delete, you really should be questioning whether you should be deleting that inventory record in the first place!

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Add a customer

Add a customer using Peachtree Complete Accounting 2009

Helpful Note!

This page is dedicated for Peachtree Complete Accounting 2009, not for other software versions.

After you have set up the customer default informationand set up a new sales tax, you are ready to set up your customers in Peachtree. This topic shows you how to add a customer's details into Peachtree Complete Accounting 2009, and how to modify or delete a customer should the need arise.

Add a customer

To add a customer into Peachtree, open the Customers & Sales Navigation Center in Peachtree. Click the Customers icon and select New Customer from the drop down list provided.

The Maintain Customers/Prospects window is displayed as follows:

This window has five tabs in which to enter information about the customer:

• General tab - records the contact details and address of the customer.
• Addresses tab - records alternate shipping addresses for the customer.
• History tab - displays key details about the customer's purchasing history.
• Sales Info tab - records sales default information for the customer.
• Payment & Credit tab - records the credit card details and any credit terms for the customer.

Helpful Hint!

If you are completing ourPeachtree Practice Set, you will need to use the General tab, the Sales Info tab and the Payment & Credit tab to enter the customer information provided.

You use these tabs to enter information about the customer. After you have entered the required information, you should save the new customer's record by clicking the Save icon. You are then able to record transactions in Peachtree for that customer. Alternatively, you can click the Save & New icon if you have another customer to set up in Peachtree.

OR

Enter customer beginning balances into Peachtree

One important step in setting up a customer in Peachtree is to enter the beginning balance owed by the customer. This step is necessary if you are converting your existing accounting system to Peachtree and you have customers that owe you money. However, if you are using Peachtree at the time you start up your business or if you are entering a new customer that has not previously transacted with your business, this step may not be necessary.

To enter the beginning balance owed by customers, click the History tab in theMaintain Customers/Prospects window. Down the bottom of this window, click Customer Beginning Balances.

This will open the Customer Beginning Balances window for that customer.

Here, you can enter the invoice number, date, purchase order number (if applicable) and amount owed by the customer. You can add more than one invoice if the total amount owed by the customer is from a number of invoices. Click the Save icon to save the beginning accounts receivable balance for that customer.

To enter the balances of more than one customer at a time, click on the Customer Balances tab to display a list of the customers of the business. In the example below, there are three customers.

Click on the name of the customer for which you want to enter a beginning balance. Notice that the name of the first tab changes to display the name of the customer you have selected.

Simply click on the first tab to enter the invoices that make up the beginning balance for that customer. You can repeat this process for as many customers as you have in your business. Just remember to click the Save icon once you have entered the balance for each one!

Changing a customer's default information

Sometimes you may offer a particular customer sales terms that are different to the default terms for your business. For example, you may not offer sales discounts to all customers but would like to make an exception for one particular customer.

To change the default settings for one particular customer, open theMaintain Customers/Prospects window for that customer and select the Payment & Credit tab. Under the Terms and Credit heading, select Customize terms for this customer from the drop down list provided.

You are then able to alter the settings for this customer as displayed below.

Note that any terms that you alter are only applied to this customer. The default terms you entered when you set up the customer default information will apply to all other customers if you have not customized their terms.

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Modifying or deleting customer records

After you have set up your customer records you may need to alter the information recorded in them. For example, a customer may have moved offices and needs their billing address updated, or the person you contact about the account has left the customer's business and you need to change the contact name to the person who has taken over that role. Or you may find that you need to delete a customer record for some reason. Read on to find out how to modify or delete a customer's record in Peachtree.

Modifying customer records

In order to modify the customer record you simply open the Maintain Customers/Prospectswindow for that customer, make the required changes, and click Save. But how do you open the Maintain Customers/Prospects window for a particular customer? There are several ways this can be done.

Possibly the quickest way is to find the name of the customer in the Customers list in the Customers & Sales Navigation Center. Double click the name of the customer to open theMaintain Customers/Prospects window for that customer.

Alternatively, you can click the Customers icon and select View and Edit Customers from the drop down list. This will open the Customer List window as shown below. There you can double click the name of the customer to open the Maintain Customers/Prospects window for that customer.

Note that there are other ways to open the Maintain Customers/Prospects window for a particular customer. We encourage you to explore Peachtree to find the way that best works for you!

Deleting customer records

To delete a customer's record in Peachtree, follow the steps above to open theMaintain Customers/Prospects window for that customer. Once open, click the Delete icon. You will be asked 'Are you sure you want to delete this record?' Clicking Yes will delete that customer's record from Peachtree. Note that you are not able to delete a customer's record if any transactions have been applied to that customer. However, if you have transactions recorded for a customer's record that you want to delete, you really should be questioning whether you should be deleting that customer record in the first place!

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Add a vendor

After you have set up the vendor default information, you are ready to enter details about your individual vendors in Peachtree. This topic shows you how to add a vendor's details into Peachtree, and how to modify or delete an existing vendor's record should the need arise.

• Add a vendor
• Modifying or deleting vendor records

Add a vendor

To enter information about a vendor into Peachtree, open the Vendors & Purchases Navigation Center. Click the Vendors icon and select New Vendor from the drop down list provided.

This opens the Maintain Vendors window where you enter information about the vendor in Peachtree. The following screenshot and reference table show step-by-step instructions on how to enter the details of the vendor into the Maintain Vendors window in Peachtree. Note that each step is assigned a reference number to help you identify the appropriate field or icon in the Maintain Vendors screenshot.

The Maintain Vendors window with reference numbers

2011 looks different?

2011 looks different?

Step	Peachtree field or icon	Action
	Vendor ID	Enter a short identification code for the vendor.
	Name	Type the name of the vendor.
	General tab	Select the General tab and enter information about that vendor into the relevant fields.
	Other tabs	Enter the required information in the other tabs: Addresses tab - select this tab to record alternate addresses for the vendor. History tab - select this tab to specify key details about your company's purchasing history with the vendor. Purchase Info tab - select this tab to record purchase default information for the vendor.
	Once you have entered the information in the Maintain Vendors window, remember to review your entries and save the vendor record by clicking the Save icon. Alternatively, click on the Save & New icon if you have another vendor to set up in Peachtree. OR

Enter vendor beginning balances into Peachtree

Entering the beginning balances of your vendor accounts is an important step in setting up vendor records in Peachtree. This step is relevant if you are converting your existing accounting system to Peachtree and there are still amounts owed to existing vendors at the start of your conversion period. However, this step can be omitted if you are using Peachtree at the same time you start up business or if you are creating a new vendor that your business has never dealt with before.

To enter the beginning balance owed to vendors, click the History tab in the Maintain Vendorwindow. Down the bottom of this window, click Vendor Beginning Balances.

2011 looks different?

2011 looks different?

This will open the Vendor Beginning Balances window for that vendor.

2011 looks different?

2011 looks different?

To enter the details of an outstanding purchase invoice (bill), record the invoice number, date purchase order number (if applicable) and amount owed to the vendor. You can record more than one unpaid purchase invoice if those purchases have not been paid in full at the time your business is converting to Peachtree. Click the Save icon to save the beginning accounts payable balance for that vendor.

To continue recording the balances of more than one vendor at a time, click on the Vendor Balances tab. The example below shows a list of three vendors that have been created in Peachtree.

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2011 looks different?

You can select a vendor from the list by clicking on the vendor’s name. Notice that once the vendor is selected, the name of the first tab changes to display the name of the vendor you have selected.

2011 looks different?

2011 looks different?

Click on the first tab to enter the purchase invoices that make up the beginning balance for that vendor. You can follow this process for as many vendors you have set up in Peachtree. Remember to click the Save icon once you have entered the balance for each one!

Changing a vendor's default information

The payment terms that are offered by a particular vendor may be different to the vendor default terms you set up in Peachtree. For example, you may receive purchase discounts from most of your vendors but do not get any discounts from a particular vendor.

To override the default settings for one particular vendor, open the Maintain Vendors window for that vendor and select the Purchase Info tab. Under the Terms and Credit heading, selectCustomize terms for this vendor from the drop down list provided.

You are then able to alter the settings for this vendor as displayed below.

Note that any terms that you alter are only applied to this vendor. The default terms you entered when you set up the vendor default information will apply to all other vendor records if you have not customized their terms.

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Modifying or deleting vendor records

After you have created your vendor records, you may need to modify the information recorded in those records. For example, you may deal with a new contact person about the account so you may have to change the contact name for that vendor. Or you may need to delete a vendor record for some reason. Read on to find out how to modify or delete a vendor's record in Peachtree.

Modifying vendor records

In order to alter your vendor records, you simply open the Maintain Vendors window for that vendor, make the required changes, and save your changes. But how do you open the Maintain Vendors window for a particular vendor? There are several ways this can be done.

One approach is to look for the name of the vendor in the Vendor list in the Vendors & Purchases Navigation Center. Click on the name of the vendor to open the Maintain Vendorswindow for that vendor.

2011 looks different?

2011 looks different?

Alternatively, you can locate the vendor's record through the Vendor List window. To display the Vendor List window, click on the Vendors icon and select the View and Edit Vendors option from the drop down list available. In the Vendor List window that appears, you can double click the name of the vendor to open the Maintain Vendors window for that vendor.

2011 looks different?

2011 looks different?

Note that there are other ways to open the Maintain Vendors window for a particular vendor. We encourage you to explore Peachtree to find the way that best works for you!

Deleting vendor records

To delete a vendor's record in Peachtree, perform the steps above to open theMaintain Vendors window for that vendor. Once open, click the Delete icon. You will be asked 'Are you sure you want to delete this record?'

Click the Yes button to delete that vendor's record from Peachtree. Note that Peachtree does not allow you to delete a vendor's record that has transactions applied to it. However, if you have transactions recorded for a vendor's record that you want to delete, you really should be questioning whether you should be deleting that vendor record in the first place!

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