Preparing Receipts

Overview:

Receipts is generally prepared when cash is received against sales this tab allow you different option which discuss below step wise

Step 1:

First you will click on receipts option from Task option on tool bar.

  

Step 2:

A receipts window will appear which has different tabs such as cash tab, customer information tab, Apply to sale revenues and apply to invoice.

Customer information:

In this section you will write information related to your customer. Deposit Ticket ID here you will type ID ticket which you save in your accounts.

Cash account:

Here you will select cash account or bank account some times company has different two banks accounts so in this option you will change account.

Cash amount balance: Here you will check your cash in hand balance.

Date: Here you will first change the date and type the date on which you receive payment from customer,

Receipt number: Here you will select receipts number.

Receipts Amount: The amount which you received against sale is written in this box.

Payment method: You can change method for example may select credit card option.

Apply to revenue:

Here you will write the amount of sale which you sale without issue of sale invoice for example extra unit for sale which not included in invoice of particular customer.

Step 4:

Apply to sale invoice:

First you will select you customer from customer ID then apply to sale invoice will edit able now you can record sales against sale invoice.

Step 5:

Here you will types information in related box and click on pay option.

  

Sale Invoice

Overview:

Whenever you have to record your sale then you prepare sale invoice we do this task step by step

Step 1:

First you will click sale invoice option from ‘task’ tool bar

Step 2:

A window will appear which has following contents show on the right side

Apply to sale order

After selecting ID ‘Apply to sales’ tab will be edited here you will select sale order no from <No So Select> .

Purpose of this tab is to record the sale amount against purchase order in shipped box.

After selecting the invoice no following change has be occur mentioned below window.

Step 3:

Shipped Amount:

In shipped amount you will type the amount which you sale against sale order.

 

Apply to sales:

In this tab you will write the any extra sale item and amount which is not written in sale order of particular customer.

The Valuation of long term securities:

Intrinsic Value:

In Finance, It is sum of all values of present value future cash flows generated by annuities.

Bonds:

A bond is security that pays a stated amount of interest to investor, Period after period, until it is finally retired by issuing company. There are some types of bonds mentioned below

·         Perpetual Bonds

·         Zero-Coupon Bonds

·         Coupon Bonds

Perpetual Bonds:

A bond which have no maturity(Issue for unlimited period of time) or in simple a perpetuity in the form of bonds .We can find intrinsic value of perpetual bond by formula mentioned below

There are two characteristic

1)      No Maturity

2)      Coupon rate

Intrinsic value = V = I/r

Where I stand for amount of interest or expected income on bond.

I = Par value of bond * Coupon rate

Example of Perpetual bond:

The British CONSOL is the example of perpetual bond.

Converting Quotation into sale invoice:

Overview:

Whenever our quotation is approved for sale then you need to prepare sale invoice. Peachtree provide us option to convert quotation into sale invoice which procedure is discussed below.

We perform this task step wise

Step 1:

First you will click on task option and select Quotes/sale orders submenu will open you will select Quotes…

A Quotation window will open which mentioned below.

Step 2:

Now you will click on the open and select the desire customer quotation for conversion purpose.

Step 3:

When desire quotation is open then you will be click on convert icon a window will open which are mentioned in right side here you check or click on sale invoice and press ok.

Note: After click on Peachtree warn about customer credit limit which can be change from customer default information.

Step 4:

Peachtree will give us option about print you can avail print option.

Converting Sale invoice to shipping

Overview:

When ever our sale are shipped then we have to record these transactions for this following step should be taken which mentioned below

Note: For this process there must be sale order of particular customer.

Step 1:

First you will click on sale invoice option from maintain bar.

Step 2:

A window will appear which has to main tabs

1)      Apply to sales order

2)      Apply to sales

Now here you will select first customer ID from customer ID bar.

Apply to sale order

After selecting ID ‘Apply to sales’ tab will be edited here you will select sale order no from <No So Select> .

After selecting the invoice no following change has be occur mentioned below window.

Step 3:

Shipped Amount:

In shipped amount you will type the amount which you sale against sale order.

Apply to sales:

In this tab you will write the any extra sale item and amount which is not written in sale order of particular customer.

Preparing Quotations:

Overview:

We can say that quotations are expected sales which are presented to our valued current or prospective customer. You can also mentioned expire date of all quotations. In simple quotation means presentation of company valued assembly items or stock items for the purpose of future sale.

Here we can do this step wise

Step 1:

First you will click on tasks menu, a menu will open, select quotation/ sale orders and select quotation from subordinate menu.

Step 2:

A window will open which contain information box explain below.

Customer ID:

Here you will select customer of which you want to enter the quotation. If customer is not exist already then you will add customer in customer window which can be open with the help of different methods

1)      First you will press (+) plus sign button.

2)      Secondly you may be two times left click on Customer ID box to open maintain customer window

3)      Thirdly you may press (Shift +?) buttons to open the maintain customer window.

Note: if you want to prepare quotation of current customer then press  (look up ) button.

Address:

You can write in this box address and further information of customer whom which quotation will send.

Date:

Date of sending and maturity of quotation will be entered in date box mentioned here. Good Thru means last date of maturity of quotation or offer mentioned in quotation after this date offer and discount or mentioned price will not apply.

Customer Purchase order and ship via:

In this box you will enter purchase order number of customer and select shipping company.

Terms:

Its means offer which are given to the customer in the shape of discounts so that they pay their dues as early as possible. For example 2% 10, Net 30 Days means if payment received from customer in 10 days 2% discount will be offer if payment received after 30 days then no discount will be offer.

Sale Representative:

Sale representative means a employee of company which involve in transaction and present company.

Quantity:

Here you will enter the desire quantity of assembly items.

Items:

Here you will enter the item which you want to sale to current or prospect customer. For example assemble item such as computer etc.

Description:

Some extra information related to item which is selected is written in this box.

Step 3:

For save quotation simply you can click on save button or press (Alt + S).

Preparing Sale order-Peachtree software

Overview:

When our customer decides to purchase our product he /she give us order in form of sale order and we have to ensure availability of product on the date which mentioned in sale order.

First click on the task icon a menu will open when you cursor on the quotation and sale order a subordinate menu will open here you select sale orders.. .

 A window will open which is shown below.

Customer ID:

Here you will select our customer if you want to add new customer then several methods given below you can choose one of them

1)      First you may press (+) sign button to open maintaining customer window.

2)      Secondly you may left click 2 times to open this window.

Window which will appear is mentioned below.

 

Note: If you want to see our previous recorded customer then you press ( ) button or press (Shift+?).

Sale Order Number:

Here in this box you will write sale order number.

Date:

Here you will write both dates

1)      Receiving date of sale order

2)      Ship by date or date on which order id place.

Customer Purchase order number:

Here you will type purchase order number which you may recorded earlier.

Items:

Here you will enter the item which you want to sale to current or prospect customer. For example assemble item such as computer etc.

Description:

Some extra information related to item which is selected is written in this box.

When all activity is done and all require boxes is fill up you will press save button to save sale order.

Maintain Chart Of Accounts

Overview:

“Basic purpose to maintain chart of accounts is mention the accounts and there types, ID, descriptions. We can also delete and inactive the account and set the beginning balance for the current year or previous year.”

We will perform this activity stepwise

Step 1:

For this we first click on “Maintain” option we will show menu open which contain options of Customers,Vendors , Charts of Accounts, Inventory items… ,Costs items….,Fixed Assets,

Company information..., Sales Tax e.t.c

Step 2:

After click “Charts of Accounts” we will get the window which mention right side. Main reason of charts of accounts is add new accounts, define account type, account description, delete accounts, change account ID and  describe company accounting record.

There are some box titles which we should discuss

Account ID:

We mention a digits for accounts  which specify there identifications in software  is called Account ID for example we mention 100 for our cash account and 101 for cash at bank Accounts. In below table all the digits are identification of Accounts.

Note: For distinctive purpose we use 100 figure for assets,200 for liabilities,300 for capital, 400 for sale , 500 for cost of sale, 600 for all expenses

ID	Description	Account Type
100	Cash	Cash
101	Cash at bank	Cash
110	Account receivable	Account receivable
111	inventory	inventory
120	Prepaid rent	Other current asset
121	Advance insurance	Other current asset
150	Land and building	Fixed asset
151	Machinery	Fixed asset
152	Vehicle	Fixed asset
153	Acc. Dep Building	Accumulated depreciation
154	Acc. Dep Machinery	Accumulated depreciation
155	Acc. Dep Vehicle	Accumulated depreciation
200	Account payable	Account payable
210	Salaries payable	Other current liability
211	Interest payable	Other current liability
212	Short term loans	Other current liability
300	Capital	Equity doesn’t close
301	Retain earning	Equity retain earning
302	Dividend	Equity gets close
400	Sale	income
500	Cost of sale	Cost of sale
600	Rent expense	expense
601	Insurance expense	expense
602	Depreciation	expense
603	Salaries expense	expense

Descriptions:

In descriptions we enter the account name such as cash , Account Receivable e.t.c.

Account Type:

Every account has its own nature for example cash is asset in nature salary is expense , notes payable is liability in nature .In software we have need to write account type

Step 3:

After writing the account ID , description and account type we will press (Alt + S) key to save the procedure or you can press    to save.

 After save all the accounts we can review all accounts by pressing  

NOTE: We must create owner’s equity account otherwise it create problem at the end. If we enter the figures then we cannot create this account id

Beginning Balance of Chart of Accounts:

This is use to add beginning balance for current year and adjust the beginning balance of account for prior year.

Step 4:

 We will click on beginning balance icon then following window will appear which mention right side. Here you will select month of which data is enter for example if trail balance is given on 1st June then May month will be selected.

Step 5:

A window will appear in which you will enter the amount of all accounts .At the end its balance will be zero.

Modification Procedure:

  Change ID is use to change the ID of accounts. If we click on this we will get

 

After changing the ID previous will be block or terminated.

 By click on this icon we can delete any selected account.

 By click on this we can inactive any account