How to make maintain vendor credit memo

How to make maintain vendor credit memo

Vendor credit memo is prepared when we want to account for return of goods purchased

From the task menu select vendor credit memo and see the following window

After click on vendor credit memo enter the vendor ID , select date the date which the goods return , enter credit number , selected invoice number and then enter item , quantity , goods returned , general ledger account and unit price.

Quotes / sales orders

From task menu select quotes/sales orders in quotes/sales orders two things quotations and sales orders first I will explain quotations click on quotation display the following window

In sales quotation first enter customer ID , select date good thru Quote number , and quantity , item, unit price.

Sales orders

In sales orders enter customer ID , select date , ship by , sales orders number , and quantity , item , and unit price.

How to task payments for purchase order

Payment

From the task menu select payment

Select payment display the payment window

·         VENDOR

Its about the information of vendor which we want purchase from such person.

·         CHEQUE NO.

In cheque no field enter the cheque no.

·         DATE

If we payment within in discount period we will received discount which we will treated as income.

·         PAY

When we click on pay field we will see that the discount will show in the discount Colum.

·         DISCOUNT ACCOUNT

In discount account we will make the the discount account in chart of accounts.

How to make purchase/receive inventory

How to make purchase/received inventory

Open Peachtree software from the task menu select purchase/received inventory

Display the purchase/received inventory window

Enter vendor ID if vendor is already exist then press lookup button and see vendor ID otherwise double clicking where cursor blinking  which display the maintain vendor window.

Enter the date in the date field.

Enter the invoice no in invoice no field

After fill invoice no in invoice field select purchase order no

After select the purchase order no then next step is quickly review that correct or not

After the quick review to save data click the save button .

How to save purchase order

How to save purchase order

First open Peachtree software from the task menu and select the purchase order

After select the purchase order display the following window

1-  Enter vendor ID if vendor is already exist then press lookup button and see vendor ID otherwise double clicking where cursor blinking  which display the maintain vendor window

Enter the date in the date field

Enter the purchase order is good through in good thru field

Enter the purchase order no in purchase order field

In quantity field enter the quantity which is given in transaction

In item field we will enter inventory if item is already exist press lookup button and see the item otherwise double click where cursor blinking which display the maintain inventory window

In per unit price field we will enter the price per unit which is given in transaction

For save after complete the purchase order transaction from the option bar click on save

Maintain Vendor Account

Maintain Vendor Record

Maintain vendor record click maintain and vendor and display the maintain vendors window.

Circle portion is called header fields and in this portion we enter vendor ID and name.

In general tab enters basic information about the vendor such as contact information, address, phone and fax numbers, and beginning balances.

In purchase defaults you can change this information at the transaction level. In purchase rep you can enter or select an employee to act as the purchase rep. In purchase account Enter a Ledger account for the default purchase account for this vendor. Tax Id is not use in Pakistan. In terms you can choose to use the standard vendor payment terms vendor. Select the Terms button to change the payment terms. And then click custom fields display the following window.

In custom field information for the selected vendor record. And then click history tab following window will appear.

Vendor Since: Enter the date you first had a transaction with the vendor.
Last Invoice Date: Enter the date of the last invoice you received from the vendor.
Last Invoice Amt.: Enter the amount of the last invoice.
Last Payment Date: Enter the last date you paid the vendor.
Last Payment Amt.: Enter the last amount you paid the vendor.

Default Information of Vendors

The next step is the default information for this we will be go to the menu of maintain where select the default information and then select the vendors in sub menu such following are.

After this it will be appear a window such as following

Payment term:

Here different option of the vendors default, accounting, custom fields, and 1099 settings. Now I will discussed all steps such are

C.O.D (cash on order):

    Cash an order mean cash received when the goods was sale .which window such as following.

Here the net due, discount in, discount % cannot mention because the cash had already receive.

Prepaid:

Here mean the cash are send to seller for order the goods before collected the goods.

Here also not give discount and net due.

Due in number of days:

When the something is purchase sometimes the goods are purchase on credit base. So in this the time is give discount such as 3/10, n/30. Its mean seller give 3% discount on the sale if the buyer pays the amount in 10 days while total credit time is 30 days.  Here they also enter the ID of the purchase general ledger purchase account.

Due on day of next month:

Its mean the due will be on next month of the day

Due at end of date:

Its mean the due will be the end das of the month.

Account aging:

This tells about the account aging by two methods invoice and due date. Here we also fill the payment days with your choice period.

Custom field:

This tells about the information about the customer which we can blank labels can fill with his choice.

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Maintain Customers/Prospectus

Maintain Customers/Prospectus

After set up company and charts of accounts now we will make subsidiary ledgers for account receivable.

Customers/prospectus maintain menu click on maintain

 

 

Click the maintain button and then click customers/Prospectus

Following window will appear

 

Header Fields

 

Header field provide information about the customer ID name and status

 

 

Click general tab to provide information sales tax code, address, telephone, and beginning balances.

 

 

Sales defaults tab ; sales representative must entered in the maintain employees in sales representative window.

GL sales account; enter general ledger account for the default sales account for this customer.

Open purchase order number can use for this customer.

In sales default ship via resale pricing level payment terms.

 

 

In payment defaults first one is card holders name enter the name of customer appear on the credit card

 

 

Custom field is other information about the customer following second contact, reference, mailing list and multiple sites etc.

 

 

      History tells about the customer history when the customer join with us as customer like as option of customer since. Here also about the history about the cash, sales and period history.

 

Default information:

The next step is the default information for this we will be go to the menu of maintain where select the default information and then select the customer in sub menu such following are

 

 

After this it will be appear a window such as following

Payment term:

 

 

Here different option of the customer default, accounting, custom fields, finance charges and pay methods. Now I will discussed all steps such are

C.O.D (cash on order):

    Cash an order mean cash received when the goods was sale .which window such as following

 

 

Here the net due, discount in, discount % cannot mention because the cash had already receive.

Prepaid:

Here mean the cash are send to seller for order the goods before collected the goods.

 

 

Here also not give discount and net due.

Due in number of day

 

 

When the something are sale some times the goods are sale on credit base. So in this the time is give discount such as 3/10, n/30. Its mean seller give 3% discount on the sale if the buyer pay the amount in 10 days while total credit time is 30 days.  Here the also enter the ID of the sales general ledger sales account.

Due on day of next month:

 

 

Its mean the due will be on next month of the day

Due at end of date:

 

 

Its mean the due will be the end das of the month.

 

 

In account aging this tells about the account aging by two methods invoice and due date. Here we also fill the payment days with your choice period.

 

 

. In custom field provide information about the customer which we can blank labels can fill with his choice.

 

 

This tells about your customer finance charges if the customer late to payment you can also put the rate which you want to charge on customer.

 

 

Pay method tells about what type of payment method but some of these not applied in Pakistan.