Inventory

INVENTORY ITEMS

·       First we go in the maintain menu and select the inventory item option.

·        Following window will appear.

·        First we will fill the item ID and its description.

·        On the right side there is a item class present. The class in which your item falls from the following options you will select that.

·        After full filling the description and ID, then below following tab are available.

·        GENERAL:

a)     First the description is present. Either the items are for sale or are being purchased.

b)    Then different pricing levels are present.

c)     When we further click on the price level 1 following window appears. By going there we can select from different pricing levels, the one which is suitable and then we can do our calculations.

d)    Then item tax type is present. The item which is being sold or purchased, the tax type applied on it.

e)     Then below it is present the last unit cost at which that product for sold.

f)      The cost method which is being used by the company.

·        On the right side three accounts are present i.e. GL Sales a/c, GL Inventory a/c and GL cost of sales a/c. these accounts have already being made in the charts of accounts so there is no need to made them again.

·        Then below are some other options which are present such as

                                                       I.            Item type is present. If in the description we have written furniture then in item type we will write the further type of that item either it’s a chair or table etc.

                                                     II.            Location means that the items are present either in the store room or in the warehouses depending upon the nature of the product.

                                                  III.            The units in which that particular product is being measured for e.g. in kilograms meters etc.

                                                  IV.            Then the weight of the product is written in the lower area.

·        Then minimum stock is present. The minimum level of stock which is to be kept to continue our production work.

·        The reorder level shows that the level at which we need to reorder the inventory.

·        Preferred vendor ID means that the vendor from which we have bought the items.

·        Buyer ID is the ID which is being allotted by the vendor to the buyer.

·        CUSTOM FIELD:

In this you can add the additional information about the vendors, substitution and such other factors are included.

·        HISTORY:

In history the details of the inventory items is present. The old history about the items and there inventory items is recorded here and is present here. The details of previous items sold or are still present in inventory is present.

vendors

VENDORS

Vendors are the subsidiary account of accounts payable. Following are the steps to enter the vendor information in the peach tree software.

·        Go in the maintain menu and select the vendors option.

·        Following window will appear.

·        First you have to create the vendors I.D and for that purpose you have to add the vendor I.D and his name and save it.

·        Now below you can see different Tabs are present. These tabs are use to full fill the require information about the vendors and helps in keeping account information and there history.

·       GENERAL: In general the vendor’s personal information is present for e.g. like contact numbers. His account number thorough which payments are received, vendor type, his email, website and such other information.

·       PURCHASE DEFAULT: In purchase default, the information related to purchase is present. A purchase representative is present, and then purchase account number is to be added after that tax I.D number. On the right side there is delivery options is present.

·       CUSTOM FILED: in custom filed additional information related to the vendor can be added.

·       HISTORY: In history the full detail of the vendor is present. The date from its first purchase to the date of its present date. The payments details and invoices details are present in this tab.

VENDORS DEFAULT

·        For the vendor default account first you have to go in the maintain menu and select the vendors default option.

·        After you will select the vendors default option following window will appear with different TABS.

PAYMENT TERMS: in payment term following information is present.

C.O.D: Cash on delivery i.e. that payment will be done on the cash basis.

PREPAID: The payment has been received before the service is provided.

DUE IN NUMBER OF DAYS: This shows that the payment is done on credit and is due in how much number of days.

DUE ON DAY OF NEXT MONTH: This shows that payment is due till the next month.

Then, below is the purchase account and discount GL Account is present.

ACCOUNT AGING:

·       INVOICE DATE:

The invoice date means the date at which the payment is made and invoice is generated.

·       DUE DATE:

Due date means that after the fulfillment of the date we will start charging the financial charges to the vendors. For e.g. if the payment was due at the 30 march then after the fulfillment of this date we will start counting the due charges.

CUSTOM FIELD:

The additional informational regarding our vendors is present here.

customer/prospect

CUSTOMERS/PROSPECTS

To maintain customers prospect in the Peach Tree following is the procedure:

v First of all we have to open the Peach Tree software and open the Maintain menu.

v In the maintain menu the first option is of customers/prospect click on that option and following window will appear.

v First you will fill the upper two columns which are called as header field, in which customer I.D and Name option is present.

v After full filling the header filed then various other tabs is present below this customer I.D.

v SALES DEFAULT:

The sales default window includes various information such as sales representative which means the person who is handling the sales, the general ledger sales account which means the accounts which have made in the charts of accounts will be present, open purchase order number will be entered, resale no is mostly linked with the online transactions. The ship via means that the companies through which your sales transactions will be carried out. In the end the last column is of pricing level at which you have set the price.

v GENERAL:

Like sales default other tabs will be filled. In the general column the contact column is filled. Then bill to the address options is present. There are up to 9 options are present to which we can bill the account. After that the relevant customer information is present address, city, country, addresses, fax, phone number and such other details. The sales tax number is allotted by the sales tax department of that country.

v PAYMENT DEFAULT:

Payment default tab is present for those customers who send the payments through credit cards. This is a kind of optional for the company because if the customers do the payments through the credit card then this can be avail. The relevant information is filled in the respective columns, so that information related to the credit card can be filled and recorded.

v CUSTOM FIELD:

This tab is present, in case we want to add the additional information about the customers. This is once entered then it can’t be changed.

v HISTORY:

In history the customer’s previous data is present. All the information related to the customer’s, invoice date’s, payments dates and such other information. All sales and cash detail information are present in the history of the data if our customer is our old customer.

CUSTOMER DEFAULT

In customer default we can make changes in the customers’ information. The total of the customers and the account receivable account present in the charts of account menu will be same. Following steps must be followed for the customer default.

v First you will go in the maintain menu. Then you will select the default information and further options will appear from there you will select the customer/prospect.

v When you will click on that option following window will appear. In that window different tabs are present. You will click on the tab you want to make additions or want to edit the information.

v PAYMENT DEFAULT:

a)    C.O.D: Cash on delivery i.e. that payment will be done on the cash basis.

b)   PREPAID: The payment has been received before the service is provided.

c)    DUE IN NUMBER OF DAYS: This shows that the payment is done on credit and is due in how much number of days.

d)   DUE ON DAY OF NEXT MONTH: This shows that payment is due till the next month.

v ACCOUNT AGING

INVOICE DATE:

The invoice date means the date at which the payment is made and invoice is generated.

DUE DATE:

Due date means that after the fulfillment of the date we will start charging the financial charges to the vendors. For e.g. if the payment was due at the 30 march then after the fulfillment of this date we will start counting the due charges.

v CUSTOM FIELD:

The additional informational regarding our vendors is present here.

v FINANCIAL CHARGES:

If the payment is not done on time then extra charges are paid. How much over due amount is present on which the charges are to be charged.

v PAY METHODS:

The different payment methods on which the payment is being made by the customer. For e.g. cash, check, VISA, Master Card etc.