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Receive and Edit Payment from Customers

In order to perform this transactions, we must go to “Customers & Sales”, and look for the “Receive Money” box .By pressing this box, we see the following options: “Receive Money from customer” and “view and edit payments received”.
To register a payment received from a customer, we chose “receive Money from customer” making the corresponding window appear. In such window we go to the upper left corner of it and we write the deposit number in “Deposit Ticket ID”, then, we look for the client, in the drop-down list in “Customer ID”. After selecting the corresponding client, the window will show the open invoices for the client. In the “Reference” box, we write the check number. We write the date in “Date” ( the right date will appear automatically if we received the payment during the day we are posting it and if the system is working in the right accounting period) . In the “Payment method” box, we choose the corresponding method, whether it is “Cash”, “Check”, “Wire transfer”, or “letter of credit”. In the upper right hand corner of the window, we find (Cash account) which is the option of the account in which the money is going to be deposited.
Like we mentioned previously, by selecting the customer , the pending invoices for that customer will appear. When we receive the payment, we click on the “Pay” box, when the payment is for the exact amount of the invoice or the exact amount less the righfully taken discount. If this is the case, we do so, write the discount amount in the “discount” box and save. If the client took an unearned discount, or if he/she paid the wrong amount, we write the exact amount received in the “amount paid” box. In the case, we have to use the “discount” box, we always have to make sure that we use the right G/L account, by going to the upper part of the window and pressing the “journal” box, and looking for the discount amount and assigning the right account to that discount.
In the case that we received a payment for an invoice not yet issued, we post it as a prepayment. We do this by selecting the client, and writing the amount in “amount paid”, but clicking in the “prepayment” box, and saving it. After issuing the corresponding invoice related to the prepayment, we edit the prepayment performed previously, unmarking the “prepayment” box and applying said payment to the already issued invoice. We need to do this, by going to the tab “Apply to invoices”, when the invoice will already appear.

To edit an existing payment received, we press the “Receive Money from customers” and we choose the option “view and edit payments received”. By selecting this option, the system will show a list of payments received during the chosen period, we double click the payment to be edited, we modify it and save it.
When we see the payments received list, we must choose the right accounting period in order to find said payment.

Create and modify customer invoices in Peachtree

Create and modify customer invoices in Peachtree:

To create and modify customer invoices in Peachtree, we must press the “Sales invoices” box. By pressing the box, the following choices will appear: “New Sales Invoices”, and “View and Edit Sales Invoices”.
To create new invoices we do the following:

“New Sales Invoice” : We choosing this option the window to create new invoices will appear. We select the customer in the upper-left side of the window, in “Customer ID”. We define the shipping address in “Ship to” , in case this addres is different from the mailing address. The invoice number will be assigned automatically by Peachtree, when it is printed or e-mailed. In the middle of the window a couple of boxes will appear; these are: “Customer PO” , Ship Via , “Ship date”, “Terms” y “Sales Rep”. All this windows are automatically filled out according to the parameters defined when we created or modified the customer, with the exception of “Customer PO”. Righ below this boxes, we will notice two tabs: “Apply to Sales orders” , and “Apply to Sales”; in the first one we choose the existing Sales order, if any; otherwise, we choose “Apply to sales”. After all these boxes are filled out, we proceed to write the information of the invoice itself regarding quantity, product and description(it comes directly from the product we choose), unit price, total amount, and below it, in the same colum, the sales tax. All these inflrmation is filled automatically when we choose an existing sales order. Thiese boxes are going to be filled out and will appear in the following order: “Quantity”, “Item”, “Descripction”, “Unit Price”, “Amount” and “Sales Tax”(this one will be looked for in the drop-down list right next to it.
To edit or modify existing customer invoices, we press the “Sales Invoices” box, and look for the option “View and edit sales invoices”. By choosing that option, a list of existing invoices will appear, we double-click on the invoice to be modified, and the original invoice will appear, off course, with all the information filled out. We, then, proceed to change the necessary information and save it.

Create and edit Sales Orders in Peachtree

Create and edit Sales Orders in Peachtree:

We look for the “Sales Order” box right down of “Quotes and Proposals”. By choosing this box, te following options will appear: “New Sales Order” and “View and edit Sales order”.
To create a new Sales Order, we will do the following:

“New Sales Order”: By choosing this option the “Sales Order” window will appear. We choose the customer in the upper-left part of the window in “Customer ID”. We define the shipping addres in “Ship to”, in case this addres is different from the mailing addres. We write the date in the “Date” box, and we write the shipping date in the “Ship by” box. The Sales Order number will be automatically assigned by Peachtree when the SO is printed. In the middle of the window several box will appear; these are: “Customer PO”, Ship Via , “Terms” and “Sales Rep”. All these boxes are filled out automatically according to parameters defined when the customer was created, all except “Customer PO”. After these boxes are filled out, we proceed to write down all the information related to the order itself, such as, quantity, inventory item, description (it comes directly from the inventory item), unit price, total amount, and below that, in the same column, the sales tax. The spaces where that information is filled out appear in the following order; “Quantity”, “Item”, “Descripction”, “Unit Price”, “Amount” and “Sales Tax” (with a drop-down list right next to it.
To edit or modify existing Sales Orders in Peachtree, we select the “Sales Orders” box, and look for the option “View and edit sales orders”. By doing so, a list of existing Sales Orders will appear, and after finding the Sales Order to be modified, we double click on it, making the original Sales Order appear with information already included. Then, we proceed and modify or edit the information we need.

Create and modify quotes and proposals in Peachtree.

Create and modify quotes and proposals in Peachtree:

In the module of “Customers & Sales”, right below the “Customers” box, we will find the “Quotes & proposals” box. By clicling in this box, several options will appear. These are:

“New Quote”: By choosing this option we will access to the window to create a new quote. We call the customer in the upper-right part of the window, in “Customer ID”. We define the shipping address in “Ship to”, in case the shipping address is different from the mailing address. We enter the date in the “Date” option, and we enter the expiration of the quote in the “Good thru” box. The quote number is assigned directly by Peachtree . In the middle of the window, we can see several options; these are: “Customer PO”, Ship Via , “Terms” and “Sales Rep”. All this information is filled out automatically according to the parameters specified when the customer was created, with the exception of “Customer PO”. After these options are filled out, we proceed to enter the quote information related to quantity, product, description (it comes directly from the inventory item quoted if gven the case), unit price, total amount, and below that, in the same column, the sales tax.
To edit and modify, we click in the “Quotes and proposals”, and look for “View and edit quotes” When choosing this option, a drop-down list will appear, and when we find the quote or proposal to be modified, we double-click on it making the original window appear with the information entered previously, now to be edited.

In the same box, “Quotes and Proposals” we will find the options “New Proposal” and “View and Edit Proposal”. The procedures for working with proposals are exactly the same that the ones for quotes.

Creating and maintaining Customers in Peachtree by Sage

Create and maintain Customers in Peachtree:

-In order to create a new Customer, one must look for the module menu in the left corner of the screen, where we see “Customers & Sales” and press it. Being in that module, we look for the “Customers” box and after clicking in that box, we will see a drop-down list with more options. Among these options, we find “New Customers” and “View and Edit customers”. We create a new customer by clicking the “New customer” option. By doing so, this window will show several tabs, where all the relevant information related to such customer will be entered. These tabs or sections that will appear in the upper part of the window are the following:

-“General”: General information.
-“Addresses”: This will be used when more than one address will be used.
-“History”: In this section, the balance history of the customer will appear, it will be filled out automatically.
-“Sales info”: In this section, we will enter information regarding the General ledger account that will be used when we invoice the customer, also the shipping methods, price levels used and tax information.
-“Payment & Credit” : In this section, we determine the credit terms for the customer, as well as, any credit card information if given the case.
We use “View and Edit Customer”, when we wish to add, change or eliminate information for an existing customer. The window that appears after we choose this option is the same one that appears when we choose “New Customer”. In order to edit an existing customer, we look in “Customer ID” , clicking the drop-down list. This will make the customer list appear. We the customer to be edited appear, we will double-click on it, and the window mentioned above will appear. In both, when we create or edit a customer, we must save it by clicking in “Save” in the upper-left part of such window.
One important frequently performed modification is when we are not going to use a customer anymore. To make the change correctly, we must click a small square in the upper -right hand of window called “Inactive”. By doing so, we notify the user and the system, that the customer will no longer be the company’s customer but the records and history will be preserved.

Peachtree by Sage and Intuit Quickbooks

One of the objectives of this bloq, is to help the working community and entreprenieuers regarding the use of two of the most widely used accounting systems in the U.S, Peachtree by Sage and Intuit Quickbooks. The main strategy to achieve this goal is the creation of a concise and simple user manual, in order to handle correctly both products, therefore, helping the user to take advantage of the effort, in the most efficient way, both monetary and intelectual, invested in his/her current software.

We invite you to post your comments.

Trillions in spending cuts. No tax increases. No kidding.

NEW YORK (CNNMoney) — Trillions in spending cuts. No tax increases. No kidding.

That is House Speaker John Boehner’s opening bid in negotiations over raising the debt ceiling.

Politically, the Boehner parameters aren’t likely to fly. President Obama and other Democrats have already made clear they want to reduce debt through a combination of spending cuts and increased tax revenue.

But practically, can the country live with a regimen of spending cuts alone? It’s unlikely, since the changes could end up being too severe to be palatable, fiscal experts say.

Just to keep the country’s total debt where it is now — around 60% of GDP — without tax increases, lawmakers would need to cut spending today by 35% or about $1.2 trillion, according to the Government Accountability Office.

That’s almost as much as what the country spends on defense and other discretionary spending — i.e., nearly everything Americans expect their federal government to do outside of providing Medicare, Medicaid and Social Security benefits.

Debt-ceiling talks: What they really mean
Keep in mind, too, that stabilizing public debt at 60% likely won’t be enough because it’s still well above the country’s historical average — which is under 40%. Translation: Even more cutting would be necessary in subsequent decades.

Another reason that a spending-cuts-only debt-reduction plan may not be the best option: It likely would require less of a sacrifice from the wealthy than from everyone else.

And any plan lawmakers agree to has to be seen as credible by the markets since the push to bring deficits down is driven by a fear that bond investors at some point may turn tail on U.S. Treasurys.

A Reuters survey this week suggests that spending cuts alone wouldn’t fly. A majority of bond firm economists and fund managers said that tax increases, in addition to spending cuts, must be part of the solution.

It’s not clear how many trillions Boehner and the GOP will aim for in spending cuts or over what time period.