maintain purchase order and received inventory

maintain purchase order and

received inventory

In order to maintain purchase order 1^st thing is to make the vendor account to whom purchase order is issued and also to maintain the inventory item to be purchased. We can make vendor account and inventory account from the following window as described before:

Then we will make a purchase order of that vendor to whom purchase order will be issue. From the task option on the left hand side of window select purchase order:

                                     

The following window will appear in order to make purchase order:

                     

You need to provide that appropriate vendor id that was allotted to vendor when maintaining the vendor account. The next thing is to provide that appropriate date when to making the purchase order along with that date when you need the goods to be received. Then you are required to allot a purchase order number to the order. Then bellow is the quantity of goods being ordered by the vendor. Then next thing to do is to provide that item that you are ordering from the vendor along with the unit price of that item. And save that information in this way the purchase order is made to vendor.

Next thing to do is to receive those goods from the vendors. For that you need to select the purchase receive inventory from the task bar:

                                  

Following window will appear:

                        

Here you need to enter the same vendor id to which purchase order was issued. Then you need to enter the date of receiving those goods and then the invoice number which is issued by the vendor. Enter the quantity that is received by vendor. Note that the quantity received can be less or more than the quantity demanded. Then the item of the goods is selected which will automatically adjust the unit price and amount that is received.

                       

This is an order transaction being recorded that’s why it is showing past due on the window. Similarly if u are purchasing more from that same vendor then all the process will be repeated we will provide new purchase order number, quantity, item ( if different item is being purchased) and so on and then in receiving inventory window we will allot that purchase order number of new purchase order and new invoice number allotted by vendor. In this way goods are received.

HOW TO MAKE PAYMENT TO VENDOR

HOW TO MAKE PAYMENT TO VENDOR

In order to make payment to vendor 1^st open payment window from the task bar on the upper left hand.

The following window will open:

The 1^st to do is to enter that vendor id to whom the payment will be made and then allot a respective check number to the check. After that enter the date on which the payment is made. If you are making payment with in the 10 days of discount then the discount head will show the respective discount amount that you are getting in this way:

                              

If payment is made after the 10 days of discount then discount head will show nothing estimating that you are making full payment. If payment is made within the discount limit days then you need to provide an account head to that discount that is availed. You will make a new chart of account with a new ID, description and account type i.e. 415, payment discount and income. In this way the discount amount will be entered in that particular income head.

                                 

Discount account shows the appropriate income head where discount is entered payment is being made to the vendor in this. Last thing is you need to save the transaction occurred.

peachtree - How to save Purchase Order

peachtree - How to save Purchase Order

•  Now we enter a purchase request for items from a vendor. Go the “Task Menu” in the bar and then click on the Purchase Orders.

•      Peach tree displays the Purchase Orders window.

•       Enter or select the vendor ID.For list of existing vendors, select the Look-up button. To add a new vendor, type + or double-click, which will display the Maintain Vendors window.When the vendor is selected 

•       Enter the purchase order (PO) number.
•      Then mention the purchase order date in the required field
•       Enter the date this purchase order is good through in the Good thru field. Change the shipping address if necessary and the method of shipment. 
•        Change the discount amount if necessary, as well as the displayed terms.
•        Enter the information for each item on a separate line, including the item's quantity, item ID, description, unit price , and job information. The default unit price is the last posted price for this item.
•       Continue entering line items until you have completed the purchase order.

•        To print a purchase order:  Select the Print button or print the purchase order through Accounts Payable Reports. 
•       click the Save button when All the required fields of the purchase order are filled to save it.

Maintain Vendor

Maintain Vendor

Use the Maintain Vendors window to enter, change, and store information about the companies and people from whom you purchase goods and services. This includes information such as

•  name and address information of the vendor including mailing address, phone numbers, e-mail address, and Web site address
•  vendor history, such as last invoice and last payment information, period history, and the date of the first purchase from the vendor
• the General Ledger purchase account
• terms of payment and credit limit
• your balance with this vendor
• the type of 1099 form sent (if any)

You can add a vendor, change existing vendor information, or delete a vendor if no transactions have been entered for the vendor.

Setup a Vendor Record

Use this procedure to set up a new vendor record.

From the Maintain menu, select Vendors. 

Peachtree displays the Maintain Vendors window.

1. Enter a new vendor ID, Name and complete the necessary vendor information.
2. When you're finished filling in the window, select the Save button.

Vendor Header Fields

Vendor header fields are located above the folder tabs of the Maintain Vendors window. This is where you enter lookup information about the vendor such as the vendor ID, name, and status.

Vendor ID: This code can be up to 20 alphanumeric characters. Lists and reports sort on vendor IDs, so the coding convention you use is important. Numeric characters sort before alpha characters. For example, the following ID codes are sorted this way:

1Z2Z

A1ZZ3

AAA02

Also, the code is case sensitive, so that codes A1 and a1 are seen as two different vendor IDs. Capital letters sort before non-capital letters. You cannot use *, ?, or + in the code.
Back and Next: Use these buttons to navigate through the list of existing vendor records by ID. Select the Back (left arrow) button to see the previous record in the list; select theNext (right arrow) button to see the next record in the list.
Name: Enter the name of the new vendor (up to 39 alphanumeric characters) here. This name prints on checks and reports. This can be a company name or an individual's name.

Inactive: If you plan to purge this vendor when you close the fiscal year, select this check box. Once a vendor record is inactive, Peachtree displays a warning when you try to make a purchase or payment to the vendor. You can update the vendor record with address and telephone information. Important: When you choose to purge after closing the fiscal year, all vendors that have no outstanding transactions and are tagged as inactive will be purged.

General (Maintain Vendors)

To enter basic information about the vendor such as contact information, address, phone and fax numbers, and beginning balances, select the General tab in the Maintain Vendors window.

Purchase Defaults (Maintain Vendors)

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To set up unique purchase transaction defaults for each vendor record, select thePurchase Defaults tab in the Maintain Vendors window. You can change this information at the transaction level, if necessary.

Purchase Rep: You can enter or select an employee to act as the purchase rep for this vendor.

Purchase Acct.: Enter a General Ledger account for the default purchase account for this vendor. This is normally an expense account. The default for this is set in Vendor Defaults. When purchasing an inventory item, the General Ledger default accounts entered in Maintain Inventory Items override this default account.
Tax ID #: Enter the vendor's tax ID number. This is only necessary if you send this vendor a 1099 form.

Account #: The Account # is the number the vendor uses for your account. This is the number that many vendors request you place on your check when you send in your payments. If you want, you can create a check form that includes this field. 

Ship Via: Select the primary shipping carrier that this vendor uses for items. The shipping carriers are set up in Inventory Item Defaults.
Terms: You can choose to use the standard vendor payment terms set up in Vendor Defaults or set up a unique set of terms for this vendor. Select the Terms button to change the payment terms for this vendor.

Form Delivery Options: This group box includes options that determine how purchase order forms are delivered to your vendors, either from the Select a Report window or using the E-mail button on the Purchase Orders window.

·         Delivery method: Choose either paper forms or e-mail. Whenever you print a form in bulk from the Select a Report window, your choice will determine whether the form is printed for mailing OR automatically sent as an e-mail attachment to this specific vendor.

·         CC Purchase Rep: Select this to automatically send an e-mail copy of the form to the default purchase rep (whose ID appears in the Purchase Rep field) whenever you send a form to the vendor.

Custom Fields (Maintain Vendors)

To enter custom field information for the selected vendor record, select the Custom Fields tab in the Maintain Vendors window. Custom field names are set up in Vendor Defaults.

History (Maintain Vendors)

To display the selected vendor's current history, select the History tab in the Maintain Vendors window. When entering a new vendor, you can enter information on this tab; once you save the vendor record, this tab is for display purposes only.
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.

Maintain Inventory Item

Maintain Inventory Item

Peachtree tracks the inventory items you buy and sell and automatically updates the quantities after each posted transaction. It also allows you to store items you do not stock but that you enter on invoices. This makes entering invoices faster for you.

To maintain the inventory subsidiary ledgers click on Maintain Menu and then click on Inventory Item….

Following window will appear:

Enter a new item ID, and complete the necessary item information. When you're finished filling in the window, select the Save button or click Alt + S to save the information. 

Inventory Item Header Fields

Inventory item header fields are located above the folder tabs of the Maintain Inventory Itemswindow. This is where you enter lookup information about the item such as item ID, name, short description for lists, item class (type of inventory item), and item status.

Item ID: This identifies the item in lookup lists. Enter an ID of up to 20 alphanumeric characters for a new inventory item. You cannot use *, ?, or + in the ID code. Inventory items are listed numerically and alphabetically by ID code, with numbers coming before letters. You might want to code your most frequently used items so that they will appear first. Remember that the ID code is case sensitive, so that codes A1 and a1 are seen as two different inventory items.

Back and Next: Use these buttons to navigate through the list of existing item records by ID. Select the Back (left arrow) button to see the previous record in the list; select the Next (right arrow) button to see the next record in the list.

Description: You can enter up to 30 alphanumeric characters for the description. This description is the short description that appears in the item lookup lists. You can enter longer descriptions that can be used in sales or purchase transactions on the General tab.

Attributes: If the ID displayed in the Item ID field is that of a substock item, when you select the Item Attributes tab, the Attributes field appears. It lists the primary and secondary attributes of the item. The field is for display purposes only; it cannot be edited.

Item Class: This identifies the type of inventory item.

Inactive: If you no longer plan to use an inventory item, you can mark the item as inactive. Once an inventory item record is inactive, Peachtree displays a warning when you try to sell an inventory item. You can update the inventory item description. Important: When you choose to Purge after closing the fiscal year, all inventory items that are not associated with existing transactions and are tagged as inactive will be purged.

Subject to Commission: When an item is subject to commission and is sold through Sales/Invoicing, it is included in the Accounts Receivable Sales Rep Report.

ITEM CLASS

Item classes define what type of inventory item you are setting up. These are selected on the General tab of the Maintain Inventory Items window. Item classes determine how an item's costing information is recorded. Once an item class is established (saved) for an inventory item, it cannot be changed. Peachtree allows the following classes of inventory items:
Non-stock: Use this class for items, such as service contracts, that you sell but do not put into your inventory. Quantities, descriptions, and unit prices are printed on invoices, but quantities on hand are not tracked. You can assign a cost of goods General Ledger account to non-stock items, but it is not affected by a costing method.
Stock: Use this item class for traditional inventory items that are tracked for quantities, average costs, vendors, low stock points, and so on. Once an item is assigned a stock class, it cannot be changed.
Master Stock Item: Use this item class when you want to set up a master stock item , a special item that does not represent inventory you stock but rather contains information (item attributes ) shared with a number of substock items generated from it.
Substock Item: This item class represents the substock items generated from a master stock item. You can only display a substock item and its characteristics in the Maintain Inventory Items window; you cannot directly set up a substock item. Similarly, you cannot delete a substock item in Maintain Inventory Items. The only way to delete a substock item is by deleting the master stock attributes from which the substock item is created. For information on setting up master and substock items, click .
Description only: Use this item class when nothing is tracked except the description. For example, "comments" that can be added to sales or purchase transactions are description-only items.
Assembly: Use this class for items that consist of components that must be built or dismantled. For each assembly item, select the Bill of Materials tab, and define the components of the assembly before you click the Save button on the Maintain Inventory Items window. Once a transaction uses an assembly, it cannot be changed.
Service: Use this item class for services you can apply to your general ledger salary and wages account. This is useful for services provided by your employees. You can enter a cost for the service.
Labor: Use this item class for labor you can apply to your general ledger salary and wages account. This is useful for outside labor that you use for projects; you can enter a cost for the service.
Activity (available in only Peachtree Complete and Peachtree Premium Accounting): Use this item class to indicate how time is spent when performing services for a customer or job. Activity items are used in the Time & Billing module and are recorded on employee or vendor time tickets. Use activity items when you plan on billing customers for reimbursable expenses that are not associated with inventory's cost of sales.
Charge (available in only Peachtree Complete and Peachtree Premium Accounting): Use this item class to identify items that are expenses recorded by an employee or vendor when various services are performed for a customer or job. Charge items are used in the Time & Billing module and are recorded on employee or vendor expense tickets. Use charge items when you plan on billing customers for reimbursable expenses that are not associated with inventory's cost of sales.

Maintain Customers/Prospects

Maintain Customers/Prospects

when we have set up a new company and the ''charts of accounts'' we will now make Customer's Prospects  for Accounts Receivable. 

 Go to the Maintain Menu and then select Customer's Prospects.

the following window will appear:

Now fill following information:

      1.  Name and address of customer/prospectus. then billing & shipping address, e-mail id, and web site address.

      2.  Date of the last invoice, and payment received, 
       Sale history with year and date and period to sales and monthly total sales.

      3. Sales Account of customer, Method of payment for specific customer.

       4  Customer's beginning balance.

Prospect:
 If we select prospect box the company or person will not be not included in any customer reports. 

Inactive: If you plan to purge this customer when you close the fiscal year, select this box. Once a customer record is inactive, Peach tree will display a warning if we try to make a sale to the customer. 

General tab

To enter basic information about the customer such as contact information, address, phone and fax numbers, sales tax code, and beginning balances, select the General tab in the Maintain Customers/Prospects window

Sales Defaults tab

To set up unique sales transaction defaults for each customer record, select the Sales Defaults tab in the Maintain Customers/Prospects window. You can change this information at the transaction level, if necessary.
Sales Rep: You can enter the sales representative that has contact with the customer. The sales representative must have already been entered in the Maintain Employees/Sales Reps window.
G/L Sales Account: Enter a General Ledger account for the default sales account for this customer. This is normally an income account. When selling inventory items, Peachtree overrides this account with the General Ledger default accounts set up in Maintain Inventory Items.
Open P.O. #: This is the standing purchase order number you can use for this customer. This defaults on the Quotes, Sales Orders, and Sales/Invoicing windows.
Ship Via: You can select the primary shipping carrier you want to use to ship items to this customer. Whatever you select here will default for sales transactions you enter for this customer. Shipping carriers are set up in the Inventory Items Defaults window.
Resale #: If this customer purchases items for resale, enter the resale number here. Resale numbers are required by most states for businesses that sell taxable goods. It enables the business to sell goods to other businesses for resale without charging a tax or to buy goods from other businesses for resale without paying a tax. If a customer intends to resell your goods, enter the customer's resale number (also called seller's permit) here.
Pricing Level: You can choose from various pricing levels that are set up in the Maintain Inventory Items window when invoicing your customers. Price level names are set up on the Price Level tab of the Inventory Item Defaults window.
Terms: You can choose to use the standard customer payment terms set up in Customers Defaults or set up a unique set of terms for this customer. To change the payment terms for this customer, select the Terms button.
Form Delivery Options: This group box includes options that determine how forms are delivered to customers either when you choose the E-mail button on task windows or print forms from the Select a Report window. For a list of customer forms that can be sent by e-mail,

·         Delivery method: Choose either paper forms or e-mail. Whenever you print a form in bulk from the Select a Report window, your choice will determine whether the form is printed for mailing OR automatically sent as an e-mail attachment to this specific customer.

·         CC Sales Rep: Select this to automatically send an e-mail copy of the form to the default sales rep (whose ID appears in the Sales Rep field) whenever you send a form to the customer.

Payment Defaults tab

To set up customized receipt settings for each customer record, select the Payment Defaults tab in the Maintain Customers/Prospects window. You can change this information at the transaction level, if necessary.
Cardholder's Name: Choose the credit card you want to use as this customer’s default, and enter the name as it appears on the credit card in the Cardholder’s Name field.
Address: Enter the customer’s billing address. As the default, the address fields (address lines 1 and 2, city, state, ZIP Code and country) will initially display the information you entered as the Bill to Address on the General tab.
Credit Card Number: Allows you to enter a default credit card number to use for this customer. You can enter dashes, spaces, or slashes as separators. The credit card number in the Payment Defaults tab will be displayed unencrypted. Therefore, you may want to control user access to the Payment Defaults tab. You can give users No Access or Full access to the Customer Payment Defaults program area. For more information about limiting access to certain areas of Peachtree Accounting click .
Expiration Date: Enter the expiration date listed on the front of the customer’s credit card. Enter the expiration date using the month/year (MM/YY) format. Expiration years (YY) appear as two digits (for example, 03 represents 2003). If a card expiration date is 5/31/03, enter 05/03.
Receipt Settings: In the Receipt Settings area of the Payment Defaults tab, you can specify the default payment settings for the selected customer. By default, the Use Receipt window settings box is checked. When checked, the Payment Method and Cash Account fields in the Receipts and Receive Payment windows default to those on the last saved receipt.
To customize the receipt settings for the selected customer, uncheck the Use Receipt window settings check box and select your desired options from the Payment Methodand Cash Account lists. The next time you create a receipt for this customer, or receive a payment through the Sales/Invoicing window, the customized receipt settings will appear.

Custom Fields tab

To enter custom field information for the selected customer record, select the Custom Fields tab in the Maintain Customers/Prospects window.

History tab

To display the selected customer's current history, select the History tab in the Maintain Customers/Prospects window. When entering a new customer, you can enter information on this tab; once you save the customer record, this tab is for display purposes only.
Customer Since: This is the date when you first made a sale to the customer.
Last Invoice Date: This is the date of the last invoice you sent to the customer.
Last Invoice Amt: This is the amount of the last invoice.
Last Payment Date: This is the date of the last payment you received from the customer.
Last Payment Amt: This is the last payment amount you received from the customer.
Last Statement Date: This is the date of the last statement you sent to the customer.