<<

. 44
( 47 .)



>>

271
B Converting QuickBooks Data to Peachtree Accounting
Getting Started Guide


Deductions and Additions
If you set up miscellaneous deductions and additions in QuickBooks, these
payroll items are converted to Peachtree Accounting as employee payroll
fields in Employee Defaults. If an employee does not use a standard amount
or calculation for one of these fields, clear the Standard (STD) check box and
enter the unique data.
QuickBooks allows you to enter percentage amounts when calculating payroll
additions and deductions. Peachtree does not directly support percentages for
deductions or additions. During the conversion percentages for additions and
deductions are entered as whole numbers. For example, if a payroll item is set
up to deduct 4%, Peachtree will convert this to a payroll field and enter “4.00
in the Amount field (meaning it will subtract $4.00 dollars from the adjusted
gross).


If you want Peachtree to calculate percentages, you must set up a company tax
table. For more information, refer to the “Payroll” chapter of the Peachtree
Accounting User™s Guide.
Note


Standard vs. Non-Standard Payroll Fields
All employees converted to Peachtree Accounting will have the STD
(Standard) check box selected, indicating that they will use the default settings
for each payroll field. If an employee does not use a standard amount or
calculation for one of these fields, clear the Standard check box and enter the
unique data.

Vacation and Sick Payroll Fields
Peachtree cannot convert Vacation and Sick earnings setup information in
QuickBooks. These items will have to be set up in Peachtree Accounting. For
more information, refer to the “Payroll” chapter of the Peachtree Accounting
User™s Guide.

Employee Beginning Balances
Peachtree converts the total year-to-date earnings for each payroll item
converted from QuickBooks. These beginning balances are entered as of the
day before the first period you chose to enter data during the conversion
process. When you enter payroll transactions, year-to-date totals for each
payroll field will be updated on each employee paycheck.




272
What QuickBooks Data Is Converted
Converting Inventory Items


Converting Inventory Items
If you have inventory items set up in QuickBooks, they will be converted to
the Peachtree Accounting format. You can set up stock, non-stock, assembly,
labor, service, and description only items in Peachtree Accounting. Each
inventory item is assigned an item ID, which is derived from the QuickBooks
item name/number. You cannot change item IDs after the conversion is
complete. If you want to change the ID, you must enter a new inventory item
in Peachtree Accounting.
After the conversion is complete, you may want to update inventory item
information.
® To display and modify inventory item information in Peachtree Accounting,
select Inventory from the Maintain menu. The Maintain Inventory Items
window displays.

For detailed information on what and how QuickBooks inventory
information is converted to Peachtree Accounting, refer to the Peachtree
Accounting online Help. In the online index, search for “QuickBooks, field
comparison lists.”
The following fields cannot be converted or are not available in QuickBooks
and can be optionally set up Peachtree Accounting:
• Reorder Quantity
• Unit of Measure
• Cost
• Note
For more information in setting up inventory items, refer to the “Inventory”
chapter of the Peachtree Accounting User™s Guide.

Service and Labor Items
Peachtree will convert “Service” and “Other Charge” items from QuickBooks
as “non-stock” inventory items in Peachtree Accounting. Peachtree also
includes “Service” and “Labor” as inventory item classes. However, these
Peachtree item classes require a default Salary/Wages expense account, which
cannot be converted from QuickBooks. After the conversion is complete, you
can change the item class to either Service or Labor and manually add the
default Salary/Wages expense account.




273
B Converting QuickBooks Data to Peachtree Accounting
Getting Started Guide


Group Items and Assemblies
Peachtree cannot convert group items: those items that contain a
combination of other items. In QuickBooks, group items can contain
inventory and non-inventory item components, which is not possible in
Peachtree. You can create assemblies in Peachtree, which contain only
inventory components.
For more information on setting up an assembly item, refer to the
“Inventory” chapter of the Peachtree Accounting User™s Guide.

Inventory General Ledger Accounts
Peachtree requires that you set up three default G/L accounts for each
inventory item. These include a default sales account, inventory account, and
cost of sales account. QuickBooks allows for subaccounts. If a parent account
and subaccount are selected (PARENT:SUBACCOUNT) as a QuickBooks
default, the subaccount is used as Peachtree™s G/L account default.

Costing Methods
Peachtree Accounting has three different types of cost methods for inventory:
• Average Cost
• LIFO (last in, first out)
• FIFO (first in, first out)
Generally, all inventory items need to use the same costing method. Check
with your accountant if you are unsure as to which costing method to use.
QuickBooks uses only one costing method-Weighted Average. All
QuickBooks inventory parts are converted to Peachtree Accounting as stock
items using the costing method selected during the conversion process. For
more information about costing methods, refer to the “Inventory” chapter of
the Peachtree Accounting User™s Guide.


You cannot change a costing method once a stock item is converted and set
up in Peachtree Accounting. If you want to change costing methods, you must
set up a new inventory item.
Note




274
What QuickBooks Data Is Converted
Converting Jobs


Quantity on Hand Beginning Balances
The current number of an inventory part item on hand in QuickBooks is
converted to Peachtree Accounting as the stock item™s beginning balance. The
Peachtree Accounting beginning balance for inventory items includes the
quantity, unit cost, and total cost of the inventory. You only use this when you
first enter beginning balances. However, if you enter an incorrect unit cost for
a beginning balance, this is the only place where you can change it. Do not use
the Beginning Balances window to make adjustments to inventory for
spoilage or theft; use the Inventory Adjustments option from the Tasks menu.
® To display and modify inventory beginning balances, select Inventory from
the Maintain menu. The Maintain Inventory Items window displays. On the
General tab, select Beginning Balances button.


Converting Jobs
Job Costing allows you to track income and expenses for each project your
company undertakes. In QuickBooks jobs are a subset of the customer list. In
Peachtree Accounting jobs are maintained as a separate list. Peachtree allows
you to enter job estimates and apply reimbursable expenses for jobs to
customer invoices.
Each customer job is assigned a job ID, which is derived from the QuickBooks
job name. You cannot change job IDs after the conversion is complete. If you
want to change the ID, you must enter a new job in Peachtree Accounting.
After the conversion is complete, you can update job information in
Peachtree Accounting at any time.
® To display and modify job information, select Jobs from the Maintain menu.
The Maintain Jobs window displays.

® To display and modify payroll setup, select Default Information from the
Maintain menu. Then, select Employees. The Employee Defaults window
displays.

For detailed information on what and how QuickBooks job information is
converted to Peachtree Accounting, refer to the Peachtree Accounting online
Help. In the online index, search for “QuickBooks, field comparison lists.”




275
B Converting QuickBooks Data to Peachtree Accounting
Getting Started Guide


The following fields cannot be converted or are not available in QuickBooks
and can be optionally set up Peachtree Accounting:
• Supervisor
• % Complete
• PO Number
• Estimated Expense
• Estimated Revenue
For more information on setting up jobs, refer to the “Job Costing” chapter
of the Users Guide.

Job Balances
Peachtree does not convert job balances from QuickBooks. In QuickBooks
job balances are a reflection of open customer invoices; Peachtree Accounting
handles job balances quite differently. Jobs are used for tracking projects.
Transactions associated with jobs are included in vendor, employee, and
customer balances. Job reports list transaction balances associated with the
job, allowing you to manage estimated revenue and expenses, job
profitability, and unbilled expenses.
Job beginning balances are entered in Peachtree to give a “snapshot” of the
job™s progress at the time you start entering data in Peachtree Accounting.
Once you start entering transactions in Peachtree Accounting, you can
associate the job ID with each beginning balance, impacting the total job
balance. For example, if you recorded $600.00 of job expenses prior to
converting to Peachtree Accounting, enter this amount as a job beginning
balance. As you record new transactions in Peachtree Accounting that need to
be associated with the job, select the job ID in the task window.
Job beginning balances do not impact customer, vendor, or General Ledger
balances.




276
After Converting
Understanding Balances after Converting from QuickBooks


After Converting
After your company data has been imported into Peachtree Accounting, you
have the final set up work to complete.

Understanding Balances after Converting from QuickBooks
While converting QuickBooks data, Peachtree will assign beginning balances
to accounts, customers, vendors, employees, and inventory items that are
converted. These balances represent the current balance in QuickBooks at the
time of the conversion. For example, if you have $148.00 worth of
outstanding purchase invoices due to a vendor, Peachtree will convert this
amount as the vendor™s beginning balance.
QuickBooks current balances are converted to Peachtree Accounting as of
the day before the first period you chose to enter data. During the
conversion process you are prompted to set up accounting periods that will
make up Peachtree's fiscal year. You must also enter the period number in
which you will be first entering data.
For example, you are converting QuickBooks company data on 12/15/99.
During the conversion, Peachtree prompts you to set up your accounting
periods. If period 12 is set up as 12/1/99 to 12/31/99 and is also chosen as the
first period in which you will be entering data, Peachtree will convert all
balances as of 11/30/99 (not 12/15/99).


Peachtree will convert the “total” current balance of the record in
QuickBooks. This means that if you entered transactions in future periods in
QuickBooks, these amounts will also be included in account and record
Note
balances.

Peachtree Vendor and Customer Beginning Balances
Peachtree vendor and customer beginning balances are not posted to the
General Ledger. These balances are assumed to already be present in the chart
of accounts at the time of the conversion.
When you are ready to make a vendor payment or customer receipt, the
balance will be available to write the transaction against.




277
B Converting QuickBooks Data to Peachtree Accounting
Getting Started Guide


For example, a vendor has a Peachtree beginning balance of $148.00 (the
balance of open invoices in QuickBooks). To make a payment against this
balance, do the following:
1 From the Tasks menu, select Payments. The Payments window displays.

<<

. 44
( 47 .)



>>