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if needed, by selecting the Journal button, which displays the Accounting
Behind the Screens window.
In this tutorial the Accounts Payable task windows were set up to hide General
Ledger accounts from view. We will now turn off this global option and
examine the difference.
1 From the Options menu, select Global.
The Maintain Global Options window appears.

2 In the Hide General Ledger Accounts section, clear the Accounts Payable
check box. Make sure the Accounts Receivable and Payroll Entry check
boxes are also clear (not checked).

3 When finished, select OK to close the Maintain Global Options window.

4 From the Tasks menu, select Purchases/Receive Inventory. The Purchases
Receive Inventory window displays with General Ledger account fields
visible.

5 To display the purchase invoice entered previously, select the Edit button.
Select invoice 15777, and then click OK.
The General Ledger accounts for each line item appear as well as the
Accounts Payable account field.




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For the remainder of these tutorials, the Hide General Ledger Accounts
global option will not be activated so that you are exposed to all the
Peachtree Accounting window elements.

Review of Lesson IV
Let™s review some of the things we learned in this lesson.
• We covered the basic accounts payable tasks”ordering items using
purchase orders, printing purchase order forms, receiving inventory
and applying purchase orders to purchase invoices, applying a
payment against the purchase invoice, and printing the
disbursement check.
• We learned how some of the various features of Peachtree
Accounting work together. The discount information entered in
Maintain Vendors was automatically included in the new purchase
invoice entered and was subtracted when entering a timely payment.
• If you want to record an invoice now and pay for it later, use the
Purchases/Receive Inventory window. If you want to print a purchase
order, leave the PO # field blank on the Purchase Orders window. If
it™s a direct cash purchase, enter a payment using the Apply to
Expenses tab.




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Review of Lesson IV


• There are two ways to enter transaction lines in purchases (and
sales):
By Inventory item: With line items set up through Maintain

Inventory Items, you can keep track of items or services
purchased or sold. Setting up these items also allows Peachtree
Accounting to complete distribution entries for you to save you
time.
By Account Number: If there is no line item set up for a

particular item you intend to purchase (or sell), or if you do not
intend to use the Inventory module, you can type a description
and distribute it directly to the proper General Ledger account.
• To examine a transaction™s journal entry, select the Journal button on
the Task window. This action displays the Accounting Behind the
Screens window where you can change account information and
examine debit and credit entries corresponding to the transaction.
• In accrual-based companies, a typical invoice credits the accounts
payable subsidiary account and debits inventory or expenses.
• When printing a check, leave the check number blank to have
Peachtree Accounting later assign a check number and print the
check.
• Once you print a batch of checks and answer Yes to the prompt that
asks you if the checks printed properly, Peachtree updates the check
numbers and flags the checks as printed. To reprint a check, you
must complete the following steps:
• From the Payments window, select the Edit button.
• Select the Payment check you want to reprint.
• Delete the check number.
• Select the Print button. This action prints the check using the
next check number in the sequence.
• You have the option to hide General Ledger Account fields on
various task windows. Hiding these fields can make data entry easier,
if desired. When the General Ledger accounts fields are not visible, it
is assumed that the default accounts you have set up will be used
when recording the transaction.
Now that you have been introduced to the Accounts Payable module of
Peachtree Accounting, you are ready to proceed to Lesson V”Accounts
Receivable.




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Lesson V”Accounts Receivable

Tu In this lesson you will learn about entering customers and using the accounts
receivable functions of Peachtree Accounting.

You will learn how to:
• Enter a new customer on-the-fly
• Enter a quote
• Enter a sales order
• Ship inventory and enter the sales invoice
• Record a receipt for the sales invoice
• Analyze collections of payments from customers
Estimated Lesson Time: 30 Minutes

Beginning the Lesson
If you are continuing from Lesson IV, skip this section and proceed with the
lesson.
If you are just starting the lesson, do the following:
1 Start Peachtree Accounting and open up the sample company, Bellwether
Garden Supply.

2 If the Action Items window displays, close it for right now.

3 From the Options menu, select Global. The Maintain Global Options
window appears.
You need to make sure that the tutorial global options are set up
properly.
4 In the Accounting tab, do the following:
Select Manual Decimal Entry and 2 as the number of decimal places.

• Clear the Hide General Ledger Accounts option for all modules
(Accounts Receivable, Accounts Payable, and Payroll).
• Select the “Warn if inventory item is out of stock” option.
• Select the “Recalculate cash balance automatically in Receipts and
Payments” option.




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Lesson V”Accounts Receivable
Accounts Receivable Tasks


5 In the General tab, do the following:
• Make sure the Line Item Entry Display option is set to two lines.
• Select both Smart Data Entry options by putting check marks in the
“Automatic field completion” and “Drop-down list displays
automatically” check boxes.
You could possibly have other global options selected as well. However,
the above options are the only ones that directly affect this tutorial.
6 When finished, select OK to close the Maintain Global Options window.


Accounts Receivable Tasks
Processing customer transactions in Peachtree Accounting is, at most, a five-
step process. The number of steps may vary depending on your needs.

Task Procedure

Maintain Customers/Prospects Set up a customer

Quotes Print a proposal for sales of products or
services

Sales Orders Order items for your customer

Sales/Invoicing Enter an invoice for products or
services delivered

Receipts Apply a receipt payment against a sales
invoice or record a cash sale


You may use all five steps or, in some cases, only one step. For example, if you
make a cash sale, you can enter this directly in the Receipts window (without
even creating a customer).
This time we are going to skip the Maintain Customers/Prospects window
and enter a customer directly from the Quotes window.




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Quotes, Sales Orders, and Sales Invoices
Quotes are proposals you give a customer detailing prices and terms for a
possible sale. This is an optional accounts receivable task. Many times you
have already established the sale. If so, you can skip this procedure and begin
entering a sales order or invoice. Quotes can be converted into sales orders or
invoices to save time.
Sales orders are used when your customer agrees to a sale, but you are not
prepared to ship or invoice all or part of the order. The service or inventory
items are ordered for the customer”either packaged by your shipping
department or issued to your staff to schedule services. Once you issue a sales
order, prospects are converted to customers.
After you actually ship items or render services, a sales order can be applied to
a sales invoice. Once the sales invoice is entered, accounting information is
entered in the General Ledger (in accrual-based companies). Quotes and sales
orders are not posted to the General Ledger.

Entering a Quote
In this lesson we will enter a quote for a new prospect.
1 From the Tasks menu, select Quotes/Sales Orders, and then Quotes.




Notice the similarities between the Quotes window and the Purchase
Orders window. Transaction lines are entered in the middle of the
window for this quote. The inventory item description displays on the
lines beneath each transaction line.

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Lesson V”Accounts Receivable
Entering a Quote


Invoice Modes
Before we begin entering the quote, let™s take a moment to discuss the
methods you can use to enter sales. There are two types of sales forms
(Quotes and Sales Invoices) you can use based on the type of data entry
required.
With the Quotes window displayed, take a minute and observe the field
layout. Notice the shipping information fields, the Item column, and the
Template button on the toolbar. You can click the Template button to see
which invoice format you™re currently set up to use.
For more information about the types of templates available, refer to the
Basics chapter of your User™s Guide.

2 Click the Template button and choose the Service template from the pull-
down menu.
The invoice format changes to a Service template. This is identical to the
Product template except that the fields for Ship Via, Quantity, Item, and
Unit Price are removed.
Since our sample company uses inventory, we need to use a Product
template.
3 Select the Template button again, but this time select the Product template
from the pull-down menu.
Place the cursor in the Customer ID field.
Suppose you get to this point and realize that the prospect whose quote
you are about to enter hasn™t been entered in Peachtree Accounting. You
don™t have to exit the window and open the Maintain Customers/
Prospects window. You can enter a new customer on-the-fly.
With the cursor in the Customer ID field, press +. The Maintain Customers/
4
Prospects window displays.




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You could also double-click inside the Customer ID field to display the

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