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ADVANCED

2009 SELF-STUDY GUIDE


PEACHTREE BY SAGE QUANTUM 2009 ADVANCED
SELF-STUDY GUIDE

Sage Software, Inc.


1715 North Brown Rd.
Lawrenceville, GA 30043

COPYRIGHT
© 2008 Sage Software, Inc. All rights reserved. The Sage Software logo, Peachtree,
Peachtree Premium, Peachtree Complete, Accounting Behind the Screens, Peachtree
Today, and the Peachtree logo are registered trademarks or trademarks of Sage Software,
Inc. or its affiliated entities. All other trademarks are the property of their respective
owners. For more information, call 800-247-3224 or visit us online at
www.peachtree.com.
No part of this book may be reproduced or transmitted in any form; electronic,
photocopying, or by any other means, without prior written permission of Sage Software,
Inc. Printed in the United States of America.
FIRST EDITION, JUNE 2008
DISCLAIMER
Information in this book is subject to change without notice. Company names and data
used as examples herein are fictitious unless otherwise noted. The information in this
book is distributed “as is,” without warranty. While every precaution has been taken to
assure the quality and accurateness of the information contained herein, Sage Software
assumes no liability to any person or entity with respect to any loss or damage caused by
or presumed to be caused by the instructions contained in this book or by the software
described in it.

i
PEACHTREE BY SAGE QUANTUM 2009 ADVANCED
SELF-STUDY GUIDE
DESCRIPTION
This course was developed for Peachtree users who want to master Peachtree Quantum
2009. This training guide offers 50 activities to demonstrate how to use Peachtree to help
you run your business.

LEVEL ADVANCED
SOFTWARE RELEASE 2009

OBJECTIVES
You will learn to:
• Modify General Ledger Reports and create Report Groups
• Use advanced Accounts Payable features
• Use advanced Accounts Receivable features
• Set up and use fixed rate and calculated Payroll deductions
• Set up and use Time and Billing
• Set up and use Peachtree’s Job Cost features
*For a complete list of specific topics covered within each chapter of this guide, please
refer to the Table of Contents.

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T ABLE OF C ONTENTS
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A
INTRODUCTION . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1
Using This Guide. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1

GENERAL LEDGER . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5
Previewing Reports . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6
Select a Report or Form Window . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6
Select a Report or Form Toolbar . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7
Report Preview Window . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8
Report Preview Toolbar. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9
Report Groups . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13
Report Groups Window. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13
Using Report Groups . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14
Reconsolidating Companies . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 16
Reconsolidate Company Window . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 16
Companies Tab . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 16
Passwords Tab . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 17

ACCOUNTS PAYABLE . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 23
Entering Vendor Credit Memos. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 24
Vendor Credit Memo Window . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 25
Apply to Purchases Tab . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 25
Apply to Invoice Tab . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 26
Selecting For Payment. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 28
Select for Payment Filter Selection Window. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 29
Select for Payment Window . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 29
Automatic Purchase Order Creation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 31
Ordering Tab . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 31
Drop Ship Orders and Invoices . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 32
Non-Drop Ship Orders and Invoices . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 32
Select for Purchase Orders . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 35
Select for Purchase Orders-Filter Selection window. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 36
Select for Purchase Orders window. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 36

INVENTORY . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 39
Adding Inventory Items. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 40
Maintain Inventory Items Window . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 40
Bill of Materials Tab . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 41
Item Attributes Tab . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 42
Serial Numbers tab . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 46
Handling Serialized Inventory Items . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 47
Building and Unbuilding Assemblies . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 52
Build/Unbuild Assemblies Window . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 52

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Adjusting the Bill of Materials for an Assembly. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 54


Revisions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 54
Copying an existing Assembly Item . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 55
Changing Item Prices. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 56
Maintain Item Prices Filter Selection Window . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 56
Maintain Item Prices Window . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 57
Adjustment Options . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 57
Item List . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 57

ACCOUNTS RECEIVABLE . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 59
Entering Credit Memos . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 60
Credit Memos Window . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 61
Header Fields . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 61
Apply to Sales Tab. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 62
Footer Fields . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 62
Apply to Invoice Tab . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 63
Entering and Billing Proposals . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 65
Proposals Window . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 66
Billing a Proposal . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 67
Applying Finance Charges . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 70
Calculate Finance Charges Window . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 70
Apply Finance Charges Window. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 71
Finance Charge Report Selection Window . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 71
Finance Charges Window . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 71
Selecting Receipts for Deposit. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 73
Select for Deposit Window . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 73

PAYROLL . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 75
Paying a Group of Employees . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 76
Select Employees Filter Selection Window . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 77
Select Employees to Pay Window. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 77
Entering Flat-Rate Payroll Fields . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 80
Entering Calculated Payroll Fields . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 82
User-Maintained Payroll Formulas Window. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 82

TIME AND BILLING. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 91


Time and Billing Ticket Types . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 92
Time Tickets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 92
Expense Tickets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 92
Using Time and Expense Tickets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 93
Adding Time Ticket Employees . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 93
Entering Activity and Charge Items . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 95
Entering Time Tickets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 98
Time Tickets Window . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 98
Weekly Timesheet . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 102
Using Time Tickets to Pay Employees . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 105
Entering Expense Tickets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 108
Expense Tickets Window . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 109
Applying Tickets to Sales Invoices . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 112

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Apply Tickets/Expenses Window . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 112
Time and Expense Reports . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 116
Report Descriptions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 116

JOB COST . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 119


About Jobs . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 120
Entering Job Defaults . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 121
Job Defaults Window . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 121
Billing and Retainage . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 121
Labor Burden Tab . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 122
Custom Fields Tab. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 122
Adding Jobs . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 123
Maintain Jobs Window . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 123
Header Fields . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 124
General Tab . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 124
Estimated Expenses & Revenue Tab. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 124
Notes Tab. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 125
Adding Phases . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 127
Maintain Phases Window . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 127
Adding Cost Codes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 129
Maintain Cost Codes Window. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 129
Entering Job Beginning Balances . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 131
Job Beginning Balances Window . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 131
Job Balances Tab . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 131
Job Entries for: Tab . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 132
Entering Job Estimates . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 133
Estimated Expenses and Revenue Tab . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 133
Selecting a Job . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 137
Using Jobs with Accounts Payable . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 138
Using Jobs with Time Tickets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 141
Using Jobs with Payroll . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 145
Labor Distribution to Jobs Window . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 145
Using Jobs with Inventory Items . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 147
Using Jobs with General Journal Entries. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 148
Using Jobs with Accounts Receivable. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 150
Contract Billing . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 150
Entering a Contract as a Sales Order . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 150
Entering a Contract as a Sales Invoice . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 152
Cost Plus Billing . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 154
Applying Reimbursable Expenses. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 155
Applying Time Tickets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 155
Cost Process Billing. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 158
Job Cost Reports . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 159
Report Descriptions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 159

UTILITIES AND SPECIAL PROCESSING . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 161


Global Options. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 162
Maintain Global Options Window. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 162

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TA B L E O F C O N T E N T S

Accounting Tab . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 162


General Tab . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 164
Peachtree Partners Tab . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 166
Spelling Tab. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 166
Posting Methods . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 168
Real-Time Posting . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 169
Batch Posting . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 169
Smart Posting. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 169
Accounting Periods . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 170
Change Accounting Period Window . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 172
Task Window Layouts. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 173
Predefined Layouts . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 173
Customized Templates. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 174
Maintain Layouts Window . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 174
Header Fields . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 174
Individual Fields and Columns . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 175
Selecting a Layout . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 175
Memorized Transactions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 176
Creating Memorized Transactions. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 176
Entering Memorized Transactions. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 176
Saving Memorized Transactions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 177
Creating New Transactions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 177
Using Memorized Transactions. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 177
Selecting Memorized Transactions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 177
Find Transactions. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 180
Find Transactions Window . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 180
Find Button . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 180
Account Register . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 181
Account Register Window. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 182

INTRODUCTION TO FAS FOR PEACHTREE BY SAGE . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 183


Starting FAS for Peachtree by Sage . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 184
Using the FAS for Peachtree Icon . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 184
Using the Start Menu . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 184
New Company Setup . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 185
Entering Company Information. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 185
Header Fields . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 186
Book Defaults Tab. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 186
Short Years Tab . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 187
Book Overrides Tab. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 187

MAINTAINING ASSETS. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 191


Maintaining Assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 192
Main Tab . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 192
Disposal Tab . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 197
History Tab . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 198
Notes Tab. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 200
Customizing the System . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 201

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TA B L E O F C O N T E N T S

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Customize Fields Window. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 201
SmartList Window. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 202
Group Manager . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 205
Group Manager Window . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 205
Group Manager Criteria Window . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 206

PROCESSING DEPRECIATION . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 209


Depreciate Assets. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 210
Using the Depreciation Icon . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 210
Using the Depreciation Menu . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 210
Depreciate Window . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 210
Reset Depreciation. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 212
Reset Depreciation Window . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 212
Post Depreciation. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 214
Post Depreciation Window . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 214

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TA B L E O F C O N T E N T S

viii Peachtree Quantum Advanced Self-Study Guide


I NTRODUCTION
................................... 1
P
eachtree Quantum 2009 Advanced Self-Study Guide is a guide
developed for users who want to master Peachtree 2009. This book
contains more than 50 activities to help you learn how to use
Peachtree to manage the accounting needs of your business. After completing
the activities in this book, you will be able to manage your accounting
procedures more effectively and efficiently.

Using This Gui de


Although this guide has been designed as a companion to the Peachtree
Quantum 2009 Basic Self-Study Guide, you can use it as a stand-alone guide as
well. If you have been using Peachtree for some time, you should be familiar
with the basic features of the program discussed in the Basic guide.
If you have used the Basic guide and completed the activities in that guide,
you can pick up where you left off with the activities in this book, since the
company used is the same. However, if you are using this guide as a stand-
alone, another option is provided. You can perform an activity that allows you
to set up the sample company and restore a data backup that will have all of
the data created in the Basic guide.
As you use this guide, you can obtain a great deal of information from each
section. In addition, you always have the option to use the online Help in the
Peachtree program itself to obtain additional information about particular
features and data fields within that feature.

1
.....
1 INTRODUCTION

ACTIVITY 1 - SETTING UP A NEW COMPANY


Abracadabra Web Services is a sales and service corporation based in Atlanta,
Georgia. The company’s fiscal year starts in January and ends in December.
Abracadabra is ready to use Peachtree for their daily accounting tasks. The company
will start entering new transactions in Peachtree on February 1, 2008. Follow these
steps to set up this company in Peachtree:
If you completed the activities in the Peachtree Quantum 2009 Basic Self-Study Guide,
you need only perform steps 16 through 33 to verify that your Global Options are set
correctly for the activities in this guide and to ensure that your taxes calculate for Payroll
tasks.
1 Select File, New Company from the Menubar or, if the Startup Screen is
displayed, select Create a new company.
2 A window opens, welcoming you to the Create a New Company Wizard.
Read the information and click Next.
3 Enter the information shown below in the Company Information window:

4 Click Next after you have entered all the information.


5 Abracadabra will use a sample business type provided with Peachtree. Select
Use a sample business type that closely matches your company and click
Next.
6 Scroll through the Select a business type list on the left until you find Sales &
Service Company. Highlight the words Sales & Service Company, then click
Next to select that business type.

2 Peachtree Quantum Advanced Self-Study Guide


. .....
INTRODUCTION
1
7 Abracadabra uses the accrual method of accounting. Select Accrual and click
Next.
8 Select Real Time for the posting method. This will allow each transaction
entered to update the General Ledger automatically. Click Next.
9 Abracadabra’s fiscal year runs from January to December each year with one
period for each month. Select 12 monthly accounting periods per year and
click Next.
10 Abracadabra will begin its fiscal year in January 2008. Click Next to continue.
11 You are ready to finish the Create a New Company Wizard. Select Finish.
12 A progress window appears as the company is created.
13 Click OK on the Peachtree Payment Solutions window.
14 Close the Setup Guide.
15 The desktop should appear as shown below:

16 To ensure that the remaining activities in this guide work properly, you will
need to verify the Global Options in Peachtree. Select Options, Global from
the Menubar.

3
.....
1 INTRODUCTION

17 On the Accounting tab, ensure that each box in the Hide General Ledger
Accounts section is clear.
18 Select the General tab.
19 Ensure that the two options at the left of the Smart Data Entry options are
selected.
20 Uncheck Automatically create IDs on maintenance windows.
21 Click OK to return to the Peachtree desktop.
22 Next, we will restore a backup from the Activity CD included with this guide.
Or use the CD that this PDF file is stored on.
23 Insert the CD.
24 Select File, Restore from the Menubar.
25 Click Browse; then select your CD-ROM drive from the drop-down list. Open
the Activity Backups folder.
26 Click once on the file named 09-quantum-advanced.ptb.
Ensure that you have selected the correct file. If you select the wrong file, you may receive
error messages when you try to restore.
27 Click Open.
28 Click Next.
29 Select An Existing Company and ensure that Abracadabra Web Services is the
company selected and click Next.
30 Ensure that only Company Data is selected in the Restore Options window
and click Next.
31 Click Finish. A progress window appears as the company is restored.

4 Peachtree Quantum Advanced Self-Study Guide


G ENERAL L EDGER
................................... 2
T
he General Ledger has several advanced features that make
reporting considerably more flexible and more informative. In
addition, you have the ability to consolidate multiple companies
and print consolidated financial statements. The flow of General Ledger tasks
is illustrated below:

Ge ner al General
Jo urn al En try Jou r n al

Ge ner al Acco un t
L ed ge r Reco nc iliatio n

5
.....
2 GENERAL LEDGER
Previewing Reports

PREVIEWING REPORTS
........................................
Reports are grouped by area in the Reports & Forms menu. When
you select an area, the Select a Report or Form window displays
a Report List showing the available reports. Reports for the
current period can be previewed by double-clicking the report
name. Reports can also be customized in a variety of ways to
change the information presented or the look of the report. To
preview a report, select the Reports & Forms menu and the area
in which the report can be found.

Select a Report or Form Wi ndow

The Select a Report or Form window appears when you choose a report area from the
Reports & Forms menu. Choose the section in the Report Area box on the left and then

6 Peachtree Quantum Advanced Self-Study Guide


. .....
GENERAL LEDGER
Previewing Reports 2
select a report from the Report List in the right. Descriptions of each report are shown in
the Report Description on the right. To preview a report, double-click the report name.

SELECT A REPORT OR FORM TOOLBAR

• Close: Closes the current window.


• Delete: Erases customized reports, forms, and report groups. Peachtree’s standard
reports cannot be deleted.
• Group: Opens the Report Groups window on which you can create a report group. A
report group consists of one or more reports from one or more report areas. When a
report group is printed, all reports that make up the group are printed at the same time.
• Print: Opens the Modify Report, which displays the printing options for the selected
report. Once the options are selected, click OK to print the report.
• Display: Previews the report to screen.
The next three options are not available if you select a financial statement
• Options: Opens the Filtering window, on which you can adjust the information that
you want to see on the report.
• Columns: Opens the Columns window for the selected report. You can use this
window to modify the columns that appear on the report.
• Fonts: Opens the Fonts window for the selected report. You can use this window to
modify the fonts that are used for different sections of the report.
• Send to: Selecting this option opens a drop-down list from which you can select the
following options to send the report to:
- E-mail: Select this option to send the report to an e-mail so it can be e-mailed in
PDF format.
- Excel: Inserts a copy of a Peachtree report into a Microsoft Excel spreadsheet.
Peachtree opens Microsoft Excel and inserts the report into a worksheet, retaining
most of the report’s original formatting.
- PDF: Saves the report in PDF (Portable Document Format) so that it can be opened
with Adobe Acrobat Reader.
• Styles: Opens the Report Styles window on which you can set up a grouping of font
styles for use on reports.

7
.....
2 GENERAL LEDGER
Previewing Reports

• Copy: Opens the Copy Reports and Financial Statements window on which you can
copy reports and financial statements from one company to another.
• Help: Displays topics related to the current window.

Report Preview Window

When you double-click a report name or select the Display button, the Report Preview
window opens. This window can be used to view information, as well as to customize the
content and appearance of the report. Changes made to the report can be saved for later
use by selecting the Save button. These saved reports appear as customized reports in the
Select a Report or Form window.
On most transaction reports, you can drill down on a transaction to open the window on
which the transaction was originally entered. To drill down, move the mouse pointer over
a transaction until a magnifying glass appears. Then, double-click to open the window on
which the original transaction was entered. You can view the transaction or make changes
and save the transaction. When you close the transaction window and return to the report,
it will be updated based on your changes.

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GENERAL LEDGER
Previewing Reports 2
You can drill down on data on a financial statement by double-clicking on a line while the
pointer is a magnifying glass. Double-clicking will open the General Ledger report for the
General Ledger account associated with the line on the financial.
You can also do a search on a previewed report by selecting the Find button in the toolbar
and entering the text or number you are searching for on the Find on Report window.

R E P O R T P R E V I EW T O O L B AR

• Close: Closes the current window.


• Save: Opens the Save as window on which you can enter a name for the report to save
it for later use. A saved report will appear in the Select a Report or Form window as a
customized report.
• Print: Sends the displayed report to the printer. A print window allows you the
opportunity to change printers, enter a range of pages to print, and change the number
of copies.
• Options: Opens the Filtering window, on which you can adjust the information that
you want to see on the report.
• Columns: Opens the Columns window for the selected report. You can use this
window to modify the columns that appear on the report.
• Fonts: Opens the Fonts window for the selected report. You can use this window to
modify the fonts that are used for different sections of the report.
• Setup: Displays the Page Setup window on which you can modify the printer settings
for the report including paper size, paper source, and print orientation.
• Hide/Show: Removes or adds the report header, which includes the company name,
title of report, date range, and filter criteria.
• E-mail: Selecting this option will open your default e-mail software and attach the
report in PDF format.

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2 GENERAL LEDGER
Previewing Reports

• Excel: Inserts a copy of a Peachtree report into a Microsoft Excel spreadsheet.


Peachtree opens Microsoft Excel and inserts the report into a worksheet, retaining most
of the report’s original formatting.
• PDF: Selecting this button will allow you to save the report in PDF (Portable
Document Format) format.
• Find: Selecting this option will open the Find on Report window, which you can use to
search for text or a number.
• Help: Displays topics related to the current window.

ACTIVITY 2 - CREATING AN INVENTORY MOVEMENT REPORT


Abracadabra needs an inventory report that shows how transactions have affected the
quantity on hand of inventory items. The Item Costing Report will be customized to
create this report. Follow these steps to create the report:
1 Select Reports & Forms, Inventory.
2 In the Report List, double-click Item Costing Report. The standard Item
Costing Report appears.
3 Select the Options button in the toolbar, uncheck Include Items with no
activity, and click OK to return to the report. Observe that only items with
activity are listed.
4 Select the Columns button, and clear the Show check box for the following
fields:
- Item Description
- Qty Received
- Item Cost
- Actual Cost
- Assembly ($)
- Adjust ($)
- Cost of Sales
- Remain Value
5 Select the Show check box for Reference.
6 With the Reference line selected, click the Move Up button repeatedly until the
Reference field is located above the Qty Received field and below the Date
field. Click OK to return to the report preview.

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GENERAL LEDGER
Previewing Reports 2
7 Note that the fourth column includes more than one field. Each of these fields
needs to appear in a new column.
8 Click the Columns button. To indicate that a field needs to appear in a new
column, the Column Break box on the Columns tab needs to be used. If the
Column Break box is selected for a field, the next field will appear in a new
column.
9 Select the Column Break check box for Assembly Qty and Adjust Qty; then
click OK.

10 The columns may need to be resized so that each column title is visible. To
resize a column, move the mouse pointer over the vertical line to the right of a
column heading until it changes to a double-sided arrow. Click and hold the left
mouse button and move the line to the desired position. Then, release the mouse
button.
11 Resize each column until each column title is visible.
12 Now, the report needs to be renamed. Click the Fonts button.
13 On the Fonts tab, change Title 1 Report Label to Inventory Movement Report
and click OK.
14 Select Save and enter a Name of Inventory Movement Report.

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2 GENERAL LEDGER
Previewing Reports

15 Click Save; then click Close. The new report will appear at the top of the
Report List.
16 Click Close to return to the desktop.

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GENERAL LEDGER
Report Groups 2
REPORT GROUPS
........................................
Report groups allow you to list related reports together and print the group of reports at
the same time. Report groups can include reports from any area and can include
customized reports. To create a report group, select the Group button on the Select a
Report or Form window.

Report Groups Window


The Report Groups window is used to create a report group. By default, all reports are
listed in the Report Index, but you can display a list of reports for a specific area using
the Report Index drop-down list. As reports are added to a group, they are listed in the
box on the right. Once the needed reports are added, you can save the report group for
later use. Elements of interest are described below:

• Report Index: Select an area from the drop-down list to show only reports for the
selected area. By default, Index to All Reports is selected and all reports are listed.
• Add: Highlight a report in the Report Index and select this button to include the report
in the report group.
• Remove: Highlight a report in the report group on the right and select this button to
remove the report from the report group.

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2 GENERAL LEDGER
Report Groups

Using Report Groups

Select Reports & Forms, Report Groups to view the existing report groups. Each group
appears on the Select a Report or Form window as a folder in the Report List.
To print the entire report group, click a folder to highlight it and then click the Print
button on the toolbar. Each report will be printed based on the dates listed on the Filter
screen in the case of a customized report.
To view the reports in a report group, click a report group folder. Each report is listed
under the open folder. Double-click an individual report to preview it.

ACTIVITY 3 - CREATING A REPORT GROUP


At the end of each month, some General Ledger reports and Financial Statements
need to be printed. To avoid printing one report at a time, a report group will be
created to include these reports. Follow these steps to create a report group:
1 Select Reports & Forms, Report Groups from the Menubar.
2 Click the Group button on the toolbar.
3 On the Report Groups window, select General Ledger from the Report Index
drop-down list.
4 Select General Ledger in the list of reports.

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GENERAL LEDGER
Report Groups 2
5 Click the Add button to include the General Ledger in the report group.

6 Select General Ledger Trial Balance in the list of reports, and click the Add
button to include it in the report group.
7 Select Financial Statements in the Report Index drop-down list.
8 Select <Standard> Balance Sheet in the list of reports, and click the Add
button to include it in the report group.
9 Select <Standard> Cash Flow in the list of reports, and click the Add button to
include it in the report group.
10 Select <Standard> Income Stmnt in the list of reports, and click the Add
button to include it in the report group.
11 Select the Save button, and enter a Name of Month End Reports.
12 Enter a Description of GL and Financials to be printed at the end of each
month.
13 Click Save; then click Close.
14 The report group now shows in the Report List.
15 Click Close to return to the Peachtree desktop.

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2 GENERAL LEDGER
Reconsolidating Companies

RECONSOLIDATING COMPANIES
........................................
Peachtree Quantum provides you the power to maintain multiple companies and
consolidate their financials using a consolidated company. You can create General Ledger
entries that cross multiple companies, maintain budgets for multiple companies, and print
consolidated financial statements while working in the consolidated company.
You can reconsolidate the consolidated company at any time by selecting File,
Reconsolidate Company, and using the Reconsolidate Company window.

Reconsol idat e Company Window


On the Reconsolidate Company window, you can add or remove companies from the
consolidated company, reconsolidate, and add or modify passwords. Each tab is described
below:

C O M P AN I E S T A B
On the Companies Tab, you can add or remove the companies that make up your
consolidated company. Fields of interest are described below:
• Reconsolidate budgets: Select this check box to have Peachtree automatically
reconsolidate budget information when Reconsolidate is selected.
• Reconsolidate: Click to reconsolidate the companies using the new configuration.
Peachtree will automatically reconsolidate the charts of accounts and budget figures for
reporting.
The reconsolidation process deletes all transactions created within the consolidated
company. If you have added any new subsidiary companies during reconsolidation,
transaction data is instead imported into the consolidated company from those added
subcompanies.

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GENERAL LEDGER
Reconsolidating Companies 2
P A S SW O R DS T A B
If any of the subsidiary companies you have added require a user ID and password to
grant user access, select the Passwords tab. The added subsidiary companies appear in
the Company column at the left of the grid. For each company appearing on the left side,
enter the required user ID and password in the User ID and Password columns.

ACTIVITY 4 - CREATING A SUBSIDIARY COMPANY


Abracadabra has a sister company, Merlin Software, whose financials it wants to
consolidate with a holding company, Bentley Enterprises, Inc. To create the
subsidiary company and enter beginning balances for the general ledger, follow the
steps below.
1 Select File, New Company.
2 Click OK to close the currently open company.
3 Click Next.
4 Enter Merlin Software in the Company Name field. The remainder of the
address and phone number information will be restored in a backup later in this
activity. Click Next.
5 Select Copy settings from an existing Peachtree Accounting company, and
click Next.
6 Select Abracadabra Web Services, and click Next.
Since we want to consolidate the General Ledgers of these two companies under the
holding company, we should ensure that the charts of accounts are the same.
7 Leave the selections as is, and click Next.
8 Select Accrual, and click Next.
All consolidated companies must have the same Accounting Method.

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2 GENERAL LEDGER
Reconsolidating Companies

9 Select Real Time, and click Next. Since we chose to copy the accounting
period structure of Abracadabra Web Services when we copied the chart of
accounts, it is not necessary to select accounting periods.
10 Click Finish.
11 Click OK on the Peachtree Payment Solutions window.
12 Close the Setup Guide.
13 Now, we will restore a backup of data for Merlin Software. Insert the Activity
CD from the back of this guide into your CD-ROM drive.
14 Select File, Restore from the Menubar. The Restore Wizard opens.
15 Select the Browse button, and choose your CD-ROM drive from the drop-down
list.
16 Click once on the file named 10–quantum-merlin.ptb and click Open.
Ensure that you have selected the correct file. If you select the wrong file, you may receive
error messages when you try to restore.
17 Click Next.
18 On the Restore Wizard-Select Company window, select An Existing
Company, and verify that Merlin Software is the company listed. Click Next.
19 Ensure that only Company Data is checked in the Restore Options window,
and click Next.
20 Click Finish on the Confirmation window. A progress window opens as the
company is restored.

ACTIVITY 5 - CREATING THE HOLDING COMPANY


Abracadabra Web Services and Merlin Software are subsidiaries of Bentley
Enterprises, Inc. Bentley Enterprises will be set up to consolidate the general ledgers
of both subsidiaries. To create the holding company, follow the steps below.
1 Select File, New Company. Click OK.
2 Click Next.

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GENERAL LEDGER
Reconsolidating Companies 2
3 Enter the following data, and click Next.

4 Select Consolidate existing Peachtree Accounting companies, and click


Next.
5 Select Merlin Software and click Add. It is added to the list of selected
subsidiary companies.

6 Select Abracadabra Web Services, and click Add.


7 Click Next.
8 Select Real Time. Click Next.
The other fields are fixed by the accounting periods of the subsidiary companies.
9 Click Finish.
10 Close the Setup Guide if it opens.

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2 GENERAL LEDGER
Reconsolidating Companies

11 Finally, we will change the accounting period to match the subsidiary


companies. To do so, select Tasks, System, Change Accounting Period.
12 Select 02-February 1, 2008 to February 29, 2008.
13 Click OK.

ACTIVITY 6 - VIEWING CONSOLIDATED FINANCIALS


During the creation of the holding company, Peachtree automatically consolidated
the financials of the subsidiary companies. To view a consolidated financial and
update a consolidated financial statement, follow the steps below.
1 While in Bentley Enterprises, select Reports & Forms, then Financial
Statements.
2 Select <Standard> Balance Sheet, and click Display. Note the balance of the
Cash on Hand account.
Now, to update the financials, we will first create a transaction in one of the
subsidiary companies, then return to the holding company and update.
3 Close all open windows, and select File, Open Company.
4 Click OK.
5 Select Abracadabra Web Services, and click OK.

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GENERAL LEDGER
Reconsolidating Companies 2
6 Select Tasks, General Journal Entry, and enter the following entry. Click
Save, and close all open windows.

7 Select File, Open Company, and click OK.


8 Select Bentley Enterprises, Inc., and click OK.
9 Close the Setup Guide if it opens.
10 Select File, Reconsolidate Company.

11 Click Reconsolidate.
12 Now, select Reports & Forms, Financial Statements.

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2 GENERAL LEDGER
Reconsolidating Companies

13 Select <Standard> Balance Sheet, and click Display. Note that the balance in
Cash on Hand has been updated.
14 Place the cursor over the balance for Cash on Hand. It changes to a zoom lens.
Double-click the mouse button to open the General Ledger report, and see that
the transaction from Abracadabra Web Services is listed.

15 Click Close on all open windows.

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A CCOUNTS P AYABLE
................................... 3
A
ccounts Payable offers several advanced features that make
processing your vendor transactions and dealings easier. You can
create Vendor Credit Memos to quickly process returns and credits
for vendors. You can generate multiple checks for invoices that are due.
Finally, you can set up Peachtree to track inventory items that are low in
quantity on hand and have Peachtree generate Purchase Orders based on these
quantities. The flow of Accounts Payable tasks is illustrated below:

Purchase Pur ch ase Orde rs


Orders Jo ur na l

Pu rch ase s/
Pu rch ase s General
R ece ive In ven tory
J ou r n al L edg er
Cre dit Mem o

Pa ymen ts Ca sh Disb ur seme nts


Jo ur na l

Vo id Checks

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3 ACCOUNTS PAYABLE
Entering Vendor Credit Memos

ENTERING VENDOR CREDIT MEMOS


........................................
Vendor Credit Memos can be entered easily into
Peachtree through the Vendor Credit Memo
window. To open this window, select Tasks from
the Menubar, then Vendor Credit Memos.

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ACCOUNTS PAYABLE
Entering Vendor Credit Memos 3
Vendor Credit Memo Window
You can use the Vendor Credit Memo window to enter credits that you receive from
vendors for broken merchandise, discounts, and so on. Each tab is described below:

APPLY TO PURCHASES TAB


If you select a vendor with no open invoices, the Apply to Purchases tab appears by
default. This tab is used to enter credits that will not be applied to an existing invoice.

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3 ACCOUNTS PAYABLE
Entering Vendor Credit Memos

A P P L Y T O I NV O I C E T A B
You can use the Apply to Invoice tab to apply credits to open invoices. Select the
appropriate invoice and specify the number returned, price, and so on.

ACTIVITY 7 - ENTERING A VENDOR CREDIT MEMO


One of the books received from Computers R Us was damaged and will be returned.
Since Abracadabra plans to continue ordering from Computers R Us, Abracadabra
requested a credit memo that will be applied to future purchases. To enter a Vendor
Credit Memo, follow these steps:
Close Bentley Enterprises and open Abracadabra Web Services.
1 Select Tasks, Vendor Credit Memos from the Menubar.
2 Select 01comp from the Vendor ID lookup list.
3 Enter 02/22/08 in the Date field.
4 Enter CM3412 in the Credit No. field.
5 Select the Apply to Purchases tab.
6 Enter 1.00 in the Quantity field.
7 Select bintro1 from the Item field.

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ACCOUNTS PAYABLE
Entering Vendor Credit Memos 3
8 Click the Terms arrow button, and enter 0.00 in the Discount Amount field, if
necessary.

9 Click OK to return to the Vendor Credit Memo window.


10 Click Save, then Close.

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3 ACCOUNTS PAYABLE
Selecting For Payment

SELECTING FOR PAYMENT


........................................
After entering purchases and vendor bills
through Purchases/Receive Inventory, use the
Select for Payment option on the Tasks menu
to pay invoices for a group of vendors. To access
this window, select Tasks, Select for Payment,
then Paper Checks.

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ACCOUNTS PAYABLE
Selecting For Payment 3
Select for Payment Filt er Selection Wi ndow
When you choose Select for Payment, Paper Checks from the Tasks menu, the Select
for Payment-Filter Selection window appears. Use this window to select the invoice and
vendor filter criteria used to select invoices and bills to pay.

Select for Payment Window


Once you enter the selection criteria on the Select for Payment-Filter Selection window,
click OK to display the Select for Payment window. Peachtree will search for all
outstanding invoices, credit memos, and prepayments that match the filter selection
criteria. Each invoice will automatically be selected for payment. Clear the Pay check box
for any invoices you do not want to pay. Each vendor with bills paid will be issued a

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3 ACCOUNTS PAYABLE
Selecting For Payment

single check regardless of the number of bills being paid. Fields of interest are described
below:

• Discount Amt: If an invoice is eligible for a discount, the discount amount will show
in this field. If necessary, the value in this field can be changed.
• Pay Amount: This amount will be the full amount of the invoice or the amount of the
invoice minus the discount amount. To make a partial payment, change this amount to
a value less than the balance of the invoice.

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ACCOUNTS PAYABLE
Automatic Purchase Order Creation 3
AUTOMATIC PURCHASE ORDER CREATION
........................................
With the Automatic Purchase Order creation feature,
you can have Peachtree automatically create
Purchase Orders for inventory items when Sales
Orders or Sales Invoices are created. To access the
selections for this feature, select Maintain; Default
Information, Inventory Items. This will open the
Inventory Item Defaults window. Select the
Ordering tab.

Ordering Tab

There are three options at the bottom of the Ordering tab that control the way the auto
creation of purchase orders works. You can choose whether or not you want to auto create
POs for either drop ship Sales Orders and Invoices and/or non-drop ship Sales Orders and

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3 ACCOUNTS PAYABLE
Automatic Purchase Order Creation

Invoices. Also, you can choose to activate this feature for Work Tickets. If none of these
options is selected, there will not be any automatic creation of Purchase Orders.

DROP SHIP ORDERS AND INVOICES


There are several prerequisites that must be met for the auto creation of Purchase Orders
from drop ship Sales Orders and/or Invoices.
• You must be set up for Real-Time posting to the General Ledger. For more information
on the posting method and how to change it, see page 168.
• Each inventory item that will be added to the Purchase Order must have a valid Vendor
ID selected in the Preferred Vendor field on the Maintain Inventory window.
• The user must have ADD access rights to Purchase Orders.
If one of these conditions is not met, there will be no automatic creation of Purchase
Orders, and you will receive a message in Peachtree informing you of this.
When these conditions are met, Peachtree will automatically generate Purchase Orders
when a Sales Order or Sales Invoice is entered and saved or when a Quote is converted to
either a Sales Order or Sales Invoice. These Purchase Orders will have the Vendors
selected as the Preferred Vendor for each particular item and the quantity of the item as
entered on the Sales Order or Invoice. They will NOT have a Purchase Order number
associated with them. These will be assigned when you print the POs.

NON-DROP SHIP ORDERS AND INVOICES


There are also several conditions that must be met for the auto creation of Purchase
Orders from non-drop ship Sales Orders and Invoices.
• Each inventory item that will be added to the Purchase Order must have a valid Vendor
ID selected in the Preferred Vendor field.
• The user must have ADD access rights to Purchase Orders.
• Each item should be set up with a Minimum Stock and Reorder Quantity.
• The quantity ordered of one or more of the items must cause the quantity available to
fall below the minimum stock quantity for that item.
When these conditions are met, Peachtree will automatically create Purchase Orders when
you enter and save Sales Orders and Sales Invoices with items ordered on the Apply to
Sales tab. Also, Purchase Orders will be created for Quotes that are converted to Sales
Orders or Sales Invoices. Finally, Receipts for items entered on the Apply to Revenues
tab of the Receipts window will create Purchase Orders.

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ACCOUNTS PAYABLE
Automatic Purchase Order Creation 3
The quantity of the item that appears on the auto created Purchase Order will be either the
quantity needed to meet the obligation plus the minimum stocking quantity or the reorder
quantity, whichever is greater.
Peachtree will not auto create Purchase Orders for items on Recurring Invoices.
Reordering must be performed manually for items on Recurring Invoices.

ACTIVITY 8 - CREATING PURCHASE ORDERS


AUTOMATICALLY
1 Abracadabra wants to set up its inventory for automatic creation of Purchase
Orders for non-drop ship items. Follow the steps below to set up Inventory
Defaults for auto creation and for entering a Sales Order that will automatically
generate a Purchase Order.First, the auto creation option must be enabled in
Inventory Item Defaults. Select Maintain, Default Information, Inventory
Items.
2 Select the Ordering tab.
3 Select the check box for Enable auto creation of purchase orders for non-
drop ship transactions. Note that the Include purchase orders when
calculating quantity available option is automatically selected and grayed out.

4 Click OK.
5 Select Tasks, Quotes/Sales Orders/Proposals, Sales Orders.
6 Enter langley in the Customer ID field.
7 Enter 2/28/08 in the Date field.

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3 ACCOUNTS PAYABLE
Automatic Purchase Order Creation

8 Enter 2/28/08 in the Ship By field.


9 Enter a Quantity of 20.
10 Enter bsurf1 in the Item field.
11 Click OK on the warning telling you there are only 11 of this item in stock.
12 Click Save.
13 Click Close to close the Sales Order window.
14 To check that a purchase order was created automatically, click Tasks,
Purchase Orders.
15 Click List. This will open the Purchase Order List.
16 You will see a purchase order dated 2/28/08 and having no PO number.
17 Select that purchase order, and click Open. Note that the quantity ordered is 14.
This includes 9 to meet the obligation on the Sales Order and 5 for the
minimum stock quantity.
18 Click Close on all open windows.

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ACCOUNTS PAYABLE
Select for Purchase Orders 3

.S.E.L.E.C.T. F. O. R. .P.U.R.C.H.A. S.E. .O.R.D.E.R.S. . . . . . . . . . . . . . .


Select for Purchase Orders gives you a powerful routine for
automatically creating Purchase Orders based on quantities on
hand for inventory items. With this routine, you can set up
criteria for selecting the items, and establish a basis for quantities
that will generate Purchase Orders that you can select for
processing. To use the Select for Purchase Orders routine, select
Tasks, Select for Purchase Orders. This will open the Select
for Purchase Orders-Filter Selection window.

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3 ACCOUNTS PAYABLE
Select for Purchase Orders

Select for Purchase Orders-Filter Selection window


On the Select for Purchase Orders-Filter Selection window, you can set various criteria
that will be used for determining which items should be reordered, which vendors will
receive Purchase Orders, and what the quantity ordered for each item will be.

For instance, for item selection, you can choose a single item, all items, or a range of
items; and then you can select the basis for selection of items, such as those that are out of
stock or below minimum stock. Then, you can determine how many of each item will be
ordered.
Once you have made your selections, click OK.

Select for Purchase Orders window


After you click OK on the Select for Purchase Orders-Filter Selection window,
Peachtree will determine the items to be ordered and the quantities to be ordered, and

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. .....
ACCOUNTS PAYABLE
Select for Purchase Orders 3
attach those items to the Preferred Vendor in the item file. Then, the Select for Purchase
Orders window will open and display the items and vendors from the filter.

On this window, you can view the items that were filtered, as well their quantity available,
order quantity, unit price and total. It will also display the Preferred Vendor and you can
select or deselect the Order field for the items that you want to reorder. Once your
selections are complete, click Save to generate the Purchase Orders. These can later be
edited or printed. You can also click Print to generate and print the Purchase Orders or E-
mail to generate and e-mail the Purchase Orders to the vendors.

ACTIVITY 9 - SELECT FOR PURCHASE ORDER


Abracadabra will use the Select for Purchase Order feature to reorder inventory
items. To reorder, follow the steps below.
1 Select Tasks, Select for Purchase Orders.
2 In Display a list of items, select Based on: Quantity on Hand.
3 Enter 02/28/08 in the As of field.
4 Set And stock status to At or above minimum stock.

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3 ACCOUNTS PAYABLE
Select for Purchase Orders

5 Set And set order quantity to: to Reorder quantity.

6 Click OK. Two items appear on the Select for Purchase Orders window, both
with a preferred vendor of 01comp.
7 Click Save to save the Purchase Order.
8 Click Close.

38 Peachtree Quantum Advanced Self-Study Guide


I NVENTORY
................................... 4
I
nventory has many advanced features that increase the power of
Peachtree for handling your inventory. In addition to its ability to
handle standard stock and service items, Peachtree’s inventory can
handle assembly type items, master/sub-stock items, and serialized inventory.
You can also assemble and disassemble assembly type items. The flow of
Inventory tasks is illustrated below:

I nv e nt o r y Inve nto ry
Adjustments Adjus t ments
Jou r n al

Ge ner al
Led ge r

Asse mblies
B ui ld / U nb ui l d Adjustment
Asse mblies Jo urn al

39
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4 INVENTORY
Adding Inventory Items

ADDING INVENTORY ITEMS


........................................
The basis of the Maintain Inventory window and the General,
Custom Fields, and History tabs are discussed in the Peachtree
Quantum 2009 Basic Self-Study Guide. Here, the remainder of the
tabs--Bill of Materials, Item Attributes, and Serial Numbers--are
discussed. To add or edit inventory items, select Maintain,
Inventory Items.

Maintain Inventory I tems Window


The Maintain Inventory Items window is used to enter, change, and store information
on the products and services you purchase and sell. Advanced tabs are described below:

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. .....
INVENTORY
Adding Inventory Items 4
BILL OF MATERIALS TAB
An assembly is a group of products or services that you sell as a unit. To create an
assembly item, you must select the required component items and enter the quantities of
each needed on the Bill of Materials tab. Fields of interest are described below:

• Quantity Needed: Enter the number of units required to build one assembly.
• Add - Remove: You can use these buttons to add and delete components of an
assembly.
A Serialized Inventory Item cannot be part of an assembly. For more information on
Serialized Inventory Items, see page 46.

ACTIVITY 10 - SETTING UP AN ASSEMBLY ITEM


Abracadabra offers a special package to customers who want a personal Web site.
This package includes set up, maintenance, and an Internet book. Because of the
volume of these orders, an assembly item will be entered to simplify data entry.
Rather than selecting the three parts of the package, you will be able to select just the
assembly item. Follow these steps to enter an assembly item:
1 Select Maintain, Inventory Items.
2 This Item ID is perpkg.

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4 INVENTORY
Adding Inventory Items

3 Enter a Description of Personal Web Site Package.


4 Select an Item Class of Assembly.
5 Select the Subject to Commission check box.
6 In the Description for Sales enter Personal web site setup and three month
maintenance plan PLUS a free copy of Introduction to the Internet. Since we do
not purchase this item, there will be no Description for Purchases.
7 Enter 300.00 in the List Price field.
8 Click the arrow button to the right of the List Price field. Enter 270.00 in the
Price field for Personal.
9 Enter 225.00 in the Price field for Commercial.
10 Click OK to return to the item window.
11 Enter the following General Ledger accounts:

GL Sales Account 40500-P

GL Inventory Acct 12000

GL Cost of Sales Acct 50000

12 Select 2 from the Item Tax Type lookup list.


13 Enter Each in the Stocking U/M field.
14 Select the Bill of Materials tab. This tab is used to enter the components of the
assembly.
15 In the first Item ID field, select htmlprogp from the lookup list. On the same
line, enter 4.00 in the Quantity Needed field.
16 On the second line, select webmaintp for the Item ID. On the same line, enter
3.00 in the Quantity Needed field.
17 On the third line, select bintro1 for the Item ID. On the same line, enter 1.00 in
the Quantity Needed field.
18 Click Save, then click Close.

I T E M A T T R IB U T E S T A B
When an item is specified as a Master Stock item, the Item Attributes tab will be enabled
for that item. On this tab, you specify the Primary and Secondary attributes for the Master
item. These attributes could include such things as size, color, weight, and so on. As you

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Adding Inventory Items 4
add items for the appropriate attribute, Peachtree will automatically generate substock
items to match all possible combinations of primary and secondary attributes. Fields of
interest are described below:

• Add: Click Add to add the item and description set to the available substock items.
• Remove: Click Remove to remove the ID and description.
• Created Substock Items: Once you save a new master stock item, this table lists, by
item ID, all substock items generated from the master. The table displays the primary
and secondary attributes that govern each substock item, the quantity on hand for each
listed item, and whether or not each item is active.
• Item ID: The item ID for each substock item will consist of the ID for the Master item
plus the ID for the primary and secondary attributes respectively.
Once substock items are created, they cannot be deleted except by selecting the record for
the Master item and removing their primary and secondary attribute IDs.
Beginning Balances are entered for Substock items in the same manner as they are
entered for standard stock items. Master items do not keep balances or quantities on hand.

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ACTIVITY 11 - CREATING MASTER STOCK AND SUBSTOCK


ITEMS.
Abracadabra offers a monogrammed sport shirt in three colors and sizes. Since the
basic shirt is the same, it can be set up as a Master Stock Item, while the color and
size can be used to create substock items associated with the master. To set up these
items, use the following steps.
1 Select Maintain, Inventory Items from the Menubar.
2 Enter shirt1 in the Item ID field.
3 Enter Abracadabra Sport Shirt in the Description field.
4 Select Master Stock Item from the Item Class drop-down list.
5 Select the Subject to Commission check box.
6 In the Description for Sales enter Abracadabra sport shirt.
7 In the Description for Purchases, enter Abracadabra sport shirt, specially
monogrammed.
8 Enter 34.99 in the List Price field.
9 Click the arrow button to the right of the List Price field. Enter 31.49 in the
Price field for Personal.
10 Enter 26.24 in the Price field for Commercial.
11 Click OK to return to the item window.
12 Select 1 from the Item Tax Type lookup list.
13 For the Costing Method, select FIFO from the drop-down list.

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14 Enter the following General Ledger accounts:

GL Sales Account 40700-C

GL Inventory Acct 12000

GL Cost of Sales Acct 51000

15 Enter Each in the Stocking U/M field.


16 Select the Item Attributes tab.
17 In the Primary Attributes box, enter Color in the Name field.
18 In the ID field, enter w, and enter white in the Description field.
19 Click Add to create the substock item.
20 Repeat steps 18 and 19 for the following two items, remembering to click Add
after each one.

ID Description

bk black

bl blue

21 In the Secondary Attributes box, enter Size in the Name field.


22 In the ID field, enter s, and enter small in the Description field.
23 Click Add to create the substock item.
24 Repeat steps 22 and 23 for the following two items, remembering to click Add
after each one.

ID Description

m medium

l large

As you add attributes, Peachtree automatically generates the substock items based on
these attributes. You will be able to enter beginning balances for the substock items, as
well as purchase and sell them.
25 Click Save, then Close.

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SERIAL NUMBERS TAB


When an item is specified as a Serialized Stock Item or a Serialized Assembly Item, the
Serial Numbers tab is enabled. On this tab, you can see a list of existing serial numbers
for that item. You can specify a warranty period for the item, as well as do a search for a
particular serial number.

If you choose a Serialized Assembly Item, the Bill of Materials tab is also enabled so you
can create the bill of materials for the assembly item.

ACTIVITY 12 - CREATING SERIALIZED INVENTORY ITEMS


Abracadabra sells computers to its customers to be used as Web servers. Each
computer is assigned a serial number to track its purchase and sale, as well as to keep
warranty information on it. To enter a serialized inventory item, follow the steps
below:
1 Select Maintain, Inventory Items from the Menubar.
2 Enter server in the Item ID field.
3 Enter Web Server in the Description field.
4 Select Serialized Stock Item from the Item Class drop-down list.
5 Select the Subject to Commission check box.

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6 In the Description for Sales enter Web Server for customer web site.
7 Click the arrow to the right of the List Price field.
8 Enter 2099.99 in the List Price field.
9 Enter 1889.99 in the Personal field.
10 Enter 1574.99 in the Commercial field.
11 Click OK to return to the item window.
12 Select 1 from the Item Tax Type lookup list.
13 Enter Each in the Stocking U/M field.
14 Click the Serial Numbers tab.
15 Select the check box for the This item is covered under a warranty field.
16 Enter 90 and select Days in the Warranty expires ---- from sale field.
17 Click Save and Close.

HANDLING SERIALIZED INVENTORY ITEMS


Serialized Inventory items, as well as Serialized Assembly items, are unique in that each
item must be assigned a particular number when it is received into inventory and that
number must be specified when the item is sold. Serialized assembly items must be
assigned a serial number when you assemble them. Costing for each item is specific to
that serial number. That is why the costing on serialized items is "Specific." Peachtree will
then track the sale of that particular item for warranty purposes.

RECEIVING SERIALIZED INVENTORY ITEMS


Serialized items are received into inventory in the same fashion as any other stock items
except that each item must be assigned a serial number when it is received. To enter serial

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numbers for the items being received, select the Serial No button in the toolbar on the
Purchase/Receive Inventory window. This will open the Serial Number Entry window.

On this window, enter the serial number for the first item if there are several, and click
Add. The serial number is recorded in the table. If you have several items that you are
receiving and the serial numbers are consecutive, select the Add --- consecutive serial
numbers field, and select the appropriate number from the box. At the bottom of the
window, Peachtree tells you how many serial numbers you must assign before you are
done. When you have entered all of the required serial numbers, click OK to return to the
Purchases/Receive Inventory window.
If you receive serialized inventory and attempt to save the invoice without entering the
serial numbers, Peachtree will warn you and open the Serial Number Entry window
automatically.

ACTIVITY 13 - RECEIVING SERIALIZED INVENTORY


Abracadabra has received five Web servers and needs to add them to inventory and
enter serial numbers for the five items. To receive serialized inventory, follow the
steps below.
1 Select Tasks, Purchases/Receive Inventory from the Menubar.
2 Enter 01comp in the Vendor ID field.
3 Enter 2/4/08 in the Date field.
4 Enter an Invoice ID of 10200.

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5 Select the Apply to Purchases tab.
6 Enter 5 in the Quantity field.
7 Enter server in the Item ID field.
8 Enter a Unit Price of 989.95.
9 To enter the serial numbers, click the Serial No button on the toolbar.
10 Enter 123 in the Enter a serial number to add field.
11 Select the check box for Add --- consecutive serial numbers.
12 Select 5 in the number of serial numbers to add.
13 Click Add. The serial numbers are listed sequentially in the table.

14 Click OK to return to the Purchases/Receive Inventory window.


15 Click Save.
16 Click Close.

SELLING SERIALIZED INVENTORY ITEMS


Selling serialized items works exactly the same as for any inventory item except that you
must assign serial numbers to the items sold on the Sales/Invoicing window. When you
enter Quotes or Sales Orders, Peachtree will record the serialized item but the serial
number itself is assigned only at the time of invoicing. On the Sales/Invoicing window,

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select the Serial No button when you want to assign the serial number to the serialized
item on the invoice. The Serial Number Selection window opens.

On this window, you select the check box in the list of available serial numbers for this
item. If this list of available serial numbers is quite extensive, you can enter the
appropriate serial number in the field and select Find to locate it in the list. Then select
the check box. Once you have made the selections, click OK. If there are multiple
Serialized Inventory items on the sales invoice, you can use the OK/Next button to step
through the items and select the serial numbers appropriate to each item.

ACTIVITY 14 - SELLING A SERIALIZED INVENTORY ITEM


Langley Enterprises is purchasing a Web server for its Web site. To enter the sale of
the Web server, follow the steps below.
1 Select Tasks, Sales/Invoicing.
2 Enter langley in the Customer ID field.
3 Enter 2/9/08 in the Date field.
4 If you do not want to print the invoice, enter an Invoice # of 22007.
5 If you want to print the invoice, leave the Invoice # blank.
6 Select the Apply to Sales tab.
7 Enter a Quantity of 1.00.
8 Enter server in the Item field.

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9 Click the Serial No button.
10 On the Serial Number Selection window, select the check box for Serial
Number 123.

11 Click OK to return to the Sales Invoicing window.


12 If you do not want to print the invoice, click Save, then Close. If you receive a
credit limit warning, click Yes.
13 If you want to print the invoice, click the Print button. Enter 22007 for the
First Invoice Number, and click Print. The invoice will post automatically
after it prints. Then click Close.

BEGINNING BALANCES FOR SERIALIZED INVENTORY ITEMS


If you are entering beginning balances for serialized inventory items, enter the quantity
and cost of the serialized item on the Inventory Beginning Balances window, and then
select the Serial No button. This will open the Serial Number Entry window, and you
can enter the serial numbers there.

HANDLING SERIALIZED ASSEMBLY ITEMS


Serialized Assembly Items are assemblies that have bills of materials but also are
assigned a serial number when they are assembled. You can also specify a warranty period
for the serialized assembly item. They are set up in the same fashion as standard assembly
type items, but when you build or unbuild them, you must assign serial numbers. In
addition, when you sell a serialized assembly item, you must assign a number to the item
sold.

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Building and Unbuilding Assemblies

BUILDING AND UNBUILDING ASSEMBLIES


........................................
After entering an assembly item in Maintain Inventory
Items and creating the bill of materials, use the Assemblies
option to build or unbuild the assembly item. When an
assembly is built, the quantities of the component items are
decreased and the quantity on hand of the assembly item is
increased. When an assembly is unbuilt, the quantity of the
assembly item is decreased and the quantities of each
component item are increased. After an assembly is unbuilt,
the components that comprised the assembly can, once
again, be sold as individual items.

To build an assembly, select Assemblies from the Tasks


menu.

Build/Unbuild Assemblies Wi ndow


The Build/Unbuild Assemblies window is used to build or unbuild assemblies using the
components defined on the Bill of Materials tab. Unbuilding an assembly breaks it down
into its individual components. On this window, you can specify the quantity of the
assembly that you want to build or unbuild. In addition, you can see the bill of materials
list for this item and see how many of each item you will need to build the assemblies.
This can be compared to the quantity of the components that is currently available.
When an assembly item is built, the total cost of its components is calculated. This
amount is posted to the inventory account for the assembly item as a debit. The General

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Building and Unbuilding Assemblies 4
Ledger inventory account(s) for the component items is credited. Fields of interest are
described below:

• Qty: Specify the number of items.


- When an assembly is built, Peachtree increases the quantity and value of the
assembly item and decreases the quantities and values of the components.
Components are taken out of inventory at the cost based on the costing method
assigned to each item. The assembly item’s cost is the sum of each component’s
cost.
- When an assembly is unbuilt, Peachtree decreases the quantity and value of the
assembly and increases the quantities and values of the components. Components
are returned to inventory at their most recent cost. Any value difference between the
per-unit value of the assembly item and the sum of the components of the assembly
will be adjusted to the cost of goods sold account.
When an assembly is built, Peachtree verifies that there are sufficient quantities of each
component on hand to build the number of assemblies specified. It is not possible to build
more assembly items than there are component items available. Also, it is not possible to
unbuild more assemblies than there are on hand.

ACTIVITY 15 - BUILDING AN ASSEMBLY ITEM


To sell the Personal Web Site Package, you must first build the assembly. Follow
these steps to build an assembly:
1 Select Tasks, Assemblies.

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2 Enter perpkg for the Item ID.


3 Enter 02/15/08 in the Date field.
4 Enter 021508BUILD in the Reference field.
5 Enter 2.00 in the Qty field.
6 Click Save; then click Close.

ADJUSTING THE BILL OF MATERIALS FOR AN


ASSEMBLY
........................................
Peachtree Quantum allows you to make minor changes to the bill of materials for an
assembly, using the Revisions feature. If you want to make major changes to the bill of
materials, we recommend that you create a new assembly item and copy the existing bill
of materials, as outlined below.

Revisions
You can access the Revisions window by selecting the Bill of Materials tab for the
assembly item you want to revise, and then by clicking the Revisions button.

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The Revisions window will list all of the revisions for this assembly item. You can select
Edit to make minor changes to the bill of materials for an existing revision, or you can
click New to create a new revision for this assembly item.

On the New or Edit Revision window, you can modify the bill of materials as necessary.
Click Save when you are finished. The next time you assemble the item, Peachtree
Quantum will use the new bill of materials.

Copying an existing Assembly Item


If you want to make major changes to the bill of materials, you can copy the existing item
with another Item ID.
• Select the assembly item in the Maintain Inventory Items window.
• Enter a new ID in the Item ID field. This copies the assembly’s attributes, including
the bill of materials to the new ID.
• On the Bill of Materials tab, the components of the assembly and quantities of each
component can now be changed, since this new item does not have any transactions
associated with it.
• Save the new record.
If the old assembly will not be used, make the original inventory item inactive after
completing this process.

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Changing Item Prices

CHANGING ITEM PRICES


........................................
Using the Maintain Item Prices window, you can update the sales
price of multiple inventory items based on the current sales price or
last unit cost. Sales prices can be changed by a specific percentage or
dollar amount, the price can be rounded to a specific dollar amount,
and you can change prices individually within the item list. To
change item sales prices, select Item Prices from the Maintain
menu.

Maintain It em Pri ces Fi lter Selection Window


Use the Maintain Item Prices Filter Selection window to enter filter criteria that will be
used to select the items that will appear in the Maintain Item Prices window.

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Maintain It em Pri ces Wi ndow
Use the Maintain Item Prices window to change the sales prices of the inventory items
listed. Fields of interest are described below:

ADJUSTMENT OPTIONS
Use these options to adjust the prices for a group of items in the list.
• Select which levels to adjust: Choose the price levels to be adjusted.
• Select method of adjustment: Select one of the three options available:
- Level's current calculation, and new cost information: The adjustment is made
based on each item's existing calculation using updated last unit cost or Price Level
1 changes.
- Level's default calculation: Overwrites the existing calculation or amount with the
calculation chosen in inventory defaults.
- Calculation selected below: Overwrites the existing calculation or amount with the
calculation specified in the following four fields. In the Use field, choose Last Cost
or Current Price. Then select to increase or decrease by an amount or percentage,
and specify the amount or percentage in the field to the right.
- Round New Value to: Choose not to round, or round to the next dollar or specific
cent.

ITEM LIST
The item list displays items based on the choices you made on the filter selection window.

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• New Price/Price Level 1-10: Displays the new sales price and the current sales price
for each price level. The New Price can be updated manually or by clicking Recalc
after selecting a method of adjustment.
• Select: Select this check box next to each item that you want to update when you click
Recalc.

ACTIVITY 16 - CHANGING ITEM PRICES


The company has decided to change the book prices so that List Price is 65% above
cost, Personal is 20% above cost, and Commercial is 15% above cost. Follow these
steps to change item prices:
1 Select Maintain, Item Prices.
2 On the Maintain Item Prices-Filter Selection window, enter an Item ID range
From bintro1 To bsurf1.
3 Click OK. Only inventory items in the Item ID range selected will be listed on
the Maintain Item Prices window.
4 Select List Price by removing the check mark from all other levels.
You must scroll down to clear all levels.
5 Choose Calculation selected below.
6 Select Last Cost, Increase by Percent, and enter 65.00 in the percentage field.
The price will not be rounded.
7 Click the Recalc button on the toolbar to change the prices listed in the New
Price 1 column.
8 To change the price for the second level, remove the check mark from List
Price, and place a check mark on Personal.
9 Change the percentage to 20.00, and click the Recalc button.
10 To change the price for level 3, remove the check mark from Personal, and
place a check mark on Commercial.
11 Change the percentage to 15.00, and click the Recalc button.
12 Click Save to accept the new prices; then click Close.

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A CCOUNTS R ECEIVABLE
................................... 5
A
ccounts Receivable offers several advanced features that make
Peachtree more powerful. In addition to customer Credit Memos,
you can calculate finance charges, enter and bill proposals, and
create deposit slips for receipts,. The flow of Accounts Receivable tasks is
illustrated below:

Quot es

Sales Or der s Sales Or de r


Jo urn al

Sale s/ In vo ic in g Gen era l


Sales
Credit Me mos L ed ger
Jou r n al

Apply
F in an ce
Cha rge s R eceip ts C ash Re ceipts
Jo urn al

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Entering Credit Memos

ENTERING CREDIT MEMOS


........................................
Credit Memos issued to customers for the return of merchandise,
discounts, and other types of credit can be entered using the
Credit Memos window. To open this window, select Credit
Memos from the Tasks menu.

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Credit Memos Window
You can use the Credit Memos window to enter credits to customers. Each tab is
described below:

HEADER FIELDS
• Credit No.: If you plan to print the credit memo, leave this field blank. You will enter
the number during the print routine. If this credit memo was manually written, enter the
credit number.

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Entering Credit Memos

A P P L Y T O SA L ES T A B
Credits to customers with no open invoices are entered on the Apply to Sales tab. Fields
of interest are described below:

• Unit Price: Displays the sales price of the item selected. If the item being returned is
not tracked through inventory, enter a sales price. If necessary, this price can be
changed. For items tracked through inventory, you can select a different sales price
from the drop-down list.

FOOTER FIELDS
• Sales Tax: Displays the total sales tax to be refunded to the customer for all taxable
line items. This field is calculated based on the sales tax selected.

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A P P L Y T O I NV O I C E T A B
When a customer with one or more invoices is selected, the Apply to Invoice tab appears.
Fields of interest are described below:

• Apply to Invoice #: Select an invoice from the drop-down list. All invoices for the
selected customer are listed.
• Quantity: Shows the original quantity for this item on the invoice.
• Returned: Enter the number of the item being returned on this credit memo.

ACTIVITY 17 - ENTERING A CREDIT MEMO


In January, Kelly Bishop purchased a copy of Surfing the Net that was damaged, and
she wants to return it. Since she plans to make future purchases and the original
invoice is no longer on file, Abracadabra will issue a credit memo that she can apply
toward future purchases. To enter the customer credit memo, follow these steps:
1 Select Tasks, Credit Memos from the Menubar.
2 Select bishopk from the Customer ID lookup list.
3 Enter 02/09/08 in the Date field.
4 If you do not want to print the credit memo, enter CM101 in the Credit # field.
5 If you want to print the credit memo, leave the field blank.

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Entering Credit Memos

6 Select the Apply to Sales tab.


7 Enter 1.00 in the Quantity field.
8 Select bsurf1 from the Item lookup list.

9 Click the Terms arrow button.


10 Enter 0.0 in the Discount Amount field.
11 Click OK.
12 If you do not want to print the credit memo, click Save, then Close.
13 If you want to print the credit memo, click the Print button. Enter CM101 for
the First CM Number, and click Print. The invoice will post automatically
after it prints. Then click Close.

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Entering and Billing Proposals 5
ENTERING AND BILLING PROPOSALS
........................................
Proposals are submitted to customers for
prospective services to be performed. Once the
customer accepts them, they can be marked as
accepted and will be available for billing during the
Sales Invoicing routine. The Proposals window
allows you to enter proposals for goods and services
that you will provide and perform for your
customers. To enter a proposal, select Quotes/Sales
Orders/Proposals, Proposals from the Tasks
menu.

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Proposals Window
The Proposals window is used to enter and print proposals for products and services
ordered by customers. Fields of interest are explained below:

• Complete By: Enter a date that the proposal should be completed by.
This date cannot be prior to the Proposal Date.
• Proposal No.: Displays the proposal number assigned by Peachtree. This number is
increased by one automatically each time a proposal is posted. This number can be
changed, but you cannot post duplicate proposal numbers nor can a proposal number
be the same as a sales order number. This field will be blank for the first proposal
entered.
• Accept Proposal: Select this check box to mark the proposal as accepted. Once a
proposal is marked as accepted, it will be available for billing in Sales Invoicing.
• Close Proposal: Select this check box to manually close a proposal. A proposal is
automatically closed after all items are billed.
• Description: Displays the description for the item selected. You can change the
description or enter a description when ordering items not tracked through inventory.
• Unit Price: Displays the sales price of the item selected. If the item ordered is not
tracked through inventory, enter a sales price. If necessary, this price can be changed.
For items tracked through inventory, you can select a different sales price from the
drop-down list.

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ACTIVITY 18 - ENTERING A PROPOSAL
Abracadabra drafted a proposal for updates to the Marriott web site. Follow these
steps to enter a proposal:
1 Select Tasks, Quotes/Sales Orders/Proposals, Proposals.
2 Select marriottw from the Customer ID lookup list.
3 Enter 02/08/08 as the Date.
4 Enter 02/08/08 in the Complete By field.
5 Enter 400 in the Proposal # field.
6 Enter a Quantity of 10.00 and an Item of htmlprogc.
7 If you do not want to print the proposal, click Save, then Close.
8 If you want to print the proposal, click the Print button. Click Print again. The
proposal will post automatically after it prints. Then click Close.

Billing a Proposal
Proposals are billed in the same manner as sales orders on the Sales/Invoicing window.
When you select a customer with open, accepted proposals, Peachtree will tell you that
you have these proposals that are ready to be billed. Then follow these steps to select and
bill the proposal:
• On the Apply to Sales Order No. tab, select <View Proposals> from the drop-down
list. The tab name will change to Apply to Proposal No.

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• Select the proposal you want to bill from the drop-down list. The Select Percentage to
Bill window will open.

Select the option you want from the Select Percentage to Bill window.
• Enter other amounts as necessary.

ACTIVITY 19 - BILLING A PROPOSAL


It is time to bill the proposal entered previously. First, the proposal must be marked as
accepted. Only then will it be available for billing in Sales Invoicing. Follow these
steps to bill a proposal:
1 Select Tasks, Quotes/Sales Orders/Proposals, Proposals.
2 Click List in the toolbar.
3 Double-click proposal 400 on the Proposal List window.
4 Click to check the box next to Accept Proposal. You cannot bill a proposal
until the proposal is accepted.
5 Click Save, then Close. Close the Proposal List also.
6 Select Tasks, Sales Invoicing.
7 Enter marriottw in the Customer ID field.
8 At the warning, click OK.
9 Enter 02/28/08 in the Date field.
10 If you do not want to print the invoice, enter 22008 in the Invoice # field.
11 If you want to print the invoice, leave the field blank.
12 Click the drop-down list on the Apply to Sales Order No. tab.
13 Select <View Proposals>. The tab changes its name.

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14 Click the same drop-down list and select proposal 400. When you select this
proposal, the Select Percentage to Bill window appears.
15 On the Select Percentage to Bill window, select The remaining percent to bill
of the Proposal (including Freight).
16 Click OK.
17 If you do not want to print the invoice, click Save, then Close.
18 If you want to print the invoice, click the Print button. Enter 22008 for the
Invoice Number, and click Print. The invoice will post automatically after it
prints. Then click Close.

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Applying Finance Charges

APPLYING FINANCE CHARGES


........................................
The Finance Charge option calculates and applies finance
charges for customers. Finance charges print on customer
statements, and therefore, should be applied before statements
are printed.

To apply finance charges, select Finance Charge from the


Tasks menu.

Calculate Finance Charges Wi ndow


Use the Calculate Finance Charges window to select the customer or range of customers
for whom finance charges should be calculated. Also, enter the date finance charges will
be applied.

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Applying Finance Charges 5
Appl y Fi nance Charges Window
After clicking OK or Starting Customer Only, the Apply Finance Charges window
opens. This window gives you options for applying finance charges and setting up
reporting options.

Fi nance Char ge Report Selection Window


After clicking OK, the Finance Charge Report Selection window opens. This window
presents additional reporting options.

Fi nance Char ges Window


Once you click OK on the Finance Charge Report Selection window, a report displays
the finance charges that were calculated. If you chose to apply finance charges, those
charges are also created.

Printed on 4/30/03 at 14:50:54.59 Page: 1

Bellwether Garden Supply


Finance charges
March 15, 2007

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Customer Name Ref # Overdue Amount Finance Charge
----------------------------------------------------------------------------------------------------------
DASHEVSKAYA-01 Dashevskaya Business Systems FC3F\00001 610.51 12.95

ERTLEY-01 Ertley Bulldog Sports FC3F\00002 252.13 9.08

HOLT-01 Holt Properties, Inc. FC3F\00003 2,650.00 95.40

SNOW-01 Snow Interior Design FC3F\00004 57.20 1.35

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5 ACCOUNTS RECEIVABLE
Applying Finance Charges

By applying finance charges, you create an invoice for each finance charge. These
invoices have a Reference Number with the prefix FC and can be edited or deleted
through Tasks, Sales/Invoicing.

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ACCOUNTS RECEIVABLE
Selecting Receipts for Deposit 5
SELECTING RECEIPTS FOR DEPOSIT
........................................
The Select for Deposit window lets you combine multiple
customer receipts into one or more bank deposits. You can also
print deposit tickets to submit to your bank along with the cash
and checks. To access the Select for Deposit window, from the
Tasks menu choose the Select for Deposit option.

Select for Deposit Window


The Select for Deposit window lists all current receipts for the General Ledger account in
the Account ID field. If this is the first time the window has been used, the default

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5 ACCOUNTS RECEIVABLE
Selecting Receipts for Deposit

account is your company's default cash account. Subsequently, the account that appears is
the last account selected in the window.

ACTIVITY 20 - USING SELECT FOR DEPOSIT


Enter the following deposit ticket.
1 Select Tasks, Select for Deposit.
2 Choose account 10200 in the Account ID field.
3 Enter 02/13/08 in the Deposit Ticket Date field.
4 The Deposit Ticket ID is 0213.
5 From the toolbar, click the All button with the check mark to select all deposits.
6 If you do not want to print the deposit slip, click Save; then Close.
7 If you want to print the deposit slip, click Print. Then click Print again.
8 After printing, the fields are cleared to allow you to select another account for
recording deposits. Click Close.

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P AYROLL
................................... 6
P
ayroll offers several advanced tasks. These include paying a group
of employees, setting up fixed-rate deductions, and setting up
calculated deductions.
The flow of Payroll tasks is illustrated below:

Payr oll Pa yro l l General


E n tr y Jo urn al Le dg er

Vo id
Che cks

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6 PAYROLL
Paying a Group of Employees

PAYING A GROUP OF EMPLOYEES


........................................
The Select for Payroll Entry window is used to print checks
for one or more employees. Included is a filter selection
window used to select which employees will be paid. To print
checks for a group of employees, choose Select for Payroll
Entry from the Tasks menu.

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Paying a Group of Employees 6
Select Employees Filter Selection Window
Selecting employees to pay has two steps. The first step is to select what types of
employees to pay. This includes selecting employees with specified pay frequencies and
pay types who should be paid on the same day. Fields of interest are described below:

• Include Time Tickets for: Enter a payroll period ending date if you are paying
employees based on time ticket hours. All unused time ticket hours dated within the
pay period chosen will be used.
• Type: To further narrow the search criteria, enter text that matches the employee type
set up in the employee records. This field is case-sensitive.

Select Employees t o Pay Window


The second step to selecting employees to pay is to print and post payroll checks using the
Select Employees to Pay Window. After making selections on the Select Employees-
Filter Selection window, the Select Employees to Pay Window opens. On this window,
make any changes needed to the paychecks listed and print the paychecks. An individual

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6 PAYROLL
Paying a Group of Employees

can be excluded from the payroll run by clearing his or her Pay check box. Fields of
interest are described below:

• Check Date: Displays the current system date or the first day of the current period if
the system date is not in the current period. If necessary, enter a different date. This
date will print on the paychecks and is also the posting date of the checks.
• Hours: Displays the number of hours the employee will be paid for each pay level.
This field is only available for hourly employees. You can change this value if an
employee worked a different number of hours this pay period.
• Salary: Displays the salary rate for the employee for each pay level. If necessary, you
can change this amount when an employee should be paid a different salary amount.
• Pay: Select this check box to pay an employee. By default, all employees who meet the
filter criteria are selected to pay when the Select Employees to Pay window is opened.
If an employee should not be paid, clear the check box.
• Detail: Displays the detailed information for the selected employee’s paycheck. If
necessary, you can make changes to the pay amounts or deductions in this window.
• Jobs: Displays the Labor Distribution to Jobs window on which you can apply payroll
hours or salary amounts to jobs.

ACTIVITY 21 - PAYING A GROUP OF EMPLOYEES


On February 16th, the hourly employees need to be paid their weekly paychecks.
Follow these steps to pay a group of employees:
1 Select Tasks, Select for Payroll Entry.

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PAYROLL
Paying a Group of Employees 6
If you have not purchased or registered Peachtree’s Payroll Tax Service, you will receive a
warning here. Click OK to continue.
2 Enter the following filter selection criteria:

Pay End Date 02/15/08

Include Pay Frequencies Only Weekly checked

Include Pay Methods Only Hourly checked

3 Click OK to apply the filter and display the Select Employees to Pay window.
If you have not purchased or registered Peachtree’s Payroll Tax Service (Peachtree
Simple Payroll or Peachtree Select Payroll), you will receive several messages stating
that calculations could not be found. Click OK several times to continue.
4 Enter a Check Date and Pay End Date of 02/15/08.
5 Ensure the Cash Account is set to 10300.
6 Select the Print button, enter a First Check Number of 1210, and click Print.
When asked if the checks printed properly, select Yes.

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Entering Flat-Rate Payroll Fields

ENTERING FLAT-RATE PAYROLL FIELDS


........................................
Payroll fields are holding areas for any information that is updated when a paycheck is
posted. Payroll deductions and additions to pay are the most common payroll fields.
Payroll fields can be flat amounts or calculated amounts. Flat-rate fields use the same
value from paycheck to paycheck, while calculated fields use the Payroll Tax Tables to
derive the value for the field.
Flat-rate fields can be set up for all or just a few employees. If a field will be used by all
employees and all employees use the same value, you simply set up the field in the
Employee Defaults window.
If a field will be used by a few employees or each employee will have a unique value,
there are two steps. First, you set up the field name and account in the Employee Defaults
window. Then, you update each employee’s record to indicate the proper amount for the
field.

ACTIVITY 22 - SETTING UP A FLAT-RATE DEDUCTION


Abracadabra’s employees have a group health plan that deducts $5 per paycheck for
single employees and $10 for married employees. Follow these steps to enter a flat-
rate deduction:
1 Select Maintain, Default Information, Employees.
2 Select the Employee Fields tab.
3 Scroll down and find the first available blank line. Enter a Field Name of
Health.
4 Select G/L Account 24100.
5 Because some employees will deduct $10 and others will deduct $5, the
remaining fields for this deduction will remain blank. Click OK.
6 Select Maintain, Employees/Sales Reps.
7 Enter an Employee ID of bentleyc. Note that on the Withholding Info tab,
Cindy’s filing status is married. Remember that married employees will deduct
$10 for the group health plan.
8 Select the Employee Fields tab.
9 Scroll down to the Health line, and clear the Use Defaults box.

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Entering Flat-Rate Payroll Fields 6
When the Use Defaults box is checked, the default for all employees is used. By clearing
the Use Defaults box, you indicate that you need to override the defaults. If you use the
default for all employees, you can select the Use Defaults box.
10 In the Account field, select 24100.
11 In the Amount field, enter –10.00.
12 Select the Save button on the toolbar. The next time a paycheck is created for
Cindy, $10 will be deducted for the group health plan.
13 Using these steps as a guide, enter the following deduction amounts for the
remaining employees. Click Save after each employee. The filing status is
listed for reference:

Employee #1 Employee #2 Employee #5

Employee ID davisj evank windsorb

Filing Status Married Single Single

Health
Deduction –10.00 –5.00 –5.00
Amount

14 Once you are finished, click Close.


15 To test the deduction for each employee, select Tasks, Payroll Entry. Again,
you may see a warning regarding registering. Click OK if you receive this
warning.
16 Select the first Employee ID, bentleyc.
17 Locate the Health field in the Taxes-Benefits-Liabilities Fields.
18 For Cindy, the deduction amount should show –10.00.
19 Select the next employee, and check the Health deduction. Repeat this step for
all employees. If an employee shows a Health deduction of 0.00 or the wrong
amount, you need to select Close, select No when asked if you want to save the
transaction, and return to Maintain, Employees to correct the employee’s
record.
20 Once you are finished checking each employee, select Close; and select No
when asked if you want to save the transaction.

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Entering Calculated Payroll Fields

ENTERING CALCULATED PAYROLL FIELDS


........................................
Calculated payroll fields use the payroll tax
tables in Peachtree to derive the value for the
field. Select File, Payroll Formulas to display
two options.
Choose Peachtree-Maintained to view the
Peachtree-Maintained Payroll Formulas
window. Peachtree-Maintained taxes include
federal and state taxes that are shared by all
companies.
Choose User-Maintained to view the User-
Maintained Payroll Formulas window. User-
Maintained taxes include taxes that are specific
to your company, such as state unemployment
insurance and union dues.
The Peachtree-Maintained formulas are
typically updated through Peachtree’s Tax Service, while the User-Maintained formulas
are updated by you each year.
If your federal and state tax amounts are zero, then you have not subscribed to
Peachtree’s Tax Service (Peachtree Simple Payroll or Peachtree Select Payroll).

User-Maintained Payroll Formulas Window


You can use the Payroll Setup Wizard to create formulas for tracking vacation and sick
time, as well as employee and employer 401(k) contributions. For more information, see
the Peachtree Quantum 2009 Basic Self-Study Guide.

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Entering Calculated Payroll Fields 6
Select File, Payroll Formulas, User-Maintained to open the User-Maintained Payroll
Formulas window. This window is used to set up all other calculated deductions such as
garnishments, union dues, or local income taxes. Fields of interest are described below:

• Name: Enter the name of the calculation followed by a space and the two digit payroll
year. Peachtree uses the name to associate a payroll tax with an employee or employer
payroll field. The name comprises two parts:
- Calculation Name: The Calculation name identifies a tax, deduction, or accrual.
This name displays in the tax name column on the Employee Fields tab or the
Company Fields tab.
- Payroll Year: The Payroll Year is the last two digits of the calendar year. Peachtree
will choose the correct tax name based on the check date year.
• Use this formula as a filter on the Payroll Tax report: Select this check box to make
the calculation available on the Payroll Tax Report.
The Use this formula as a filter on the Payroll Tax report box can be checked only when
TAXABLE_GROSS appears in the formula on the left side of the equal sign. The Payroll
Tax Report lists Taxable Gross figures based on the formula entered for each tax.
Therefore, Taxable Gross must be defined in the formula.
• Tax agency: Select the government to which this calculation applies. If a State or Local
government tax should apply only to a single state or single locality, enter the state or

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Entering Calculated Payroll Fields

locality in the field provided. For State, enter the two-character postal abbreviation. For
a locality, enter the name of the locality. This field must be duplicated in the
State/Locality box in each employee record to whom the tax applies.

ACTIVITY 23 - SETTING UP A CALCULATED DEDUCTION


Cindy Bentley needs an advance of $3,000. A check will be cut for her and she will
pay back $150 per paycheck. A calculation will be used so that $150 will be deducted
per paycheck until the entire loan is paid back. Follow these steps to issue the
advance check and set up a calculated payroll field:
1 Select Tasks, Write Checks.
2 Skip the Vendor ID field, and enter Cindy Bentley in the Pay to the Order of
field.
3 If you do not want to print the check, enter a Check Number of 3287.
4 If you want to print the check, leave the Check Number blank.
5 Enter a Date of 02/27/08.
6 Enter 3000.00 in the Amount field.
7 Ensure the Cash Account selected is 10200.
8 In the Memo field, enter Advance of $3000.
9 Enter an Expense Account of 14100.

10 If you do not want to print the check, click Save; then Close.

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Entering Calculated Payroll Fields 6
11 If you want to print the check, click the Print button. Enter 3287 for the First
Check Number, and click Print. Then click Close.
12 Before the next series of paychecks is printed, the advance payback calculation
needs to be set up. To set up the advance payback, select Maintain, Default
Information, Employees.
13 Select the Employee Fields tab.
14 Scroll down and find the first available blank line. Enter a Field Name of
EmpLoan.
Field Names for calculated payroll fields are often used in payroll formulas. For this
reason, it is important that you remain consistent in the spelling and capitalization of the
Field Name.
15 Select G/L Account 14100.

16 Check the Run box so that the loan amount can be tracked into the next payroll
year as well.
17 The remaining fields will be left blank. Because this payroll field affects only
Cindy, you will eventually set up the remaining fields for her employee record
only. Click OK.
18 To enter the calculation information, select File, Payroll Formulas, User-
Maintained.
19 On the User-Maintained Payroll Formulas window, enter a Formula ID of
LOAN08.
20 Enter a Name of LOAN 08.

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Entering Calculated Payroll Fields

The Name for any payroll calculation must contain a name followed by a space and then
the last two digits of the year. LOAN 08 will be used for payroll checks posted in 2008.
When a payroll check for 2009 needs to be posted, a new calculation called LOAN 09
must be created.
21 For How do you classify this formula?, select Deduction.

22 In the Formula box, enter the following formula. Use CTRL+ENTER to move
to the next line. Each character must be entered exactly as shown:
LIMIT=3000;
A=150;
B=—YTD(EmpLoan)+EmpLoan;
C=A—((A+B)—LIMIT);
A N S W E R = — I F ( ( A + B ) < L I M I T, A , C )
23 Click the Save button on the toolbar; then click Close.
If there is a mistake in the Formula entered, a message or series of messages will appear.
These messages indicate that the Formula is not entered correctly. In this case, you would
need to double-check the Formula entered with the one above to correct any mistakes.

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Entering Calculated Payroll Fields 6
24 Now, Cindy’s employee record needs to be updated to include the calculation.
Select Maintain, Employees/Sales Reps.
25 Select bentleyc from the Employee ID lookup list.
26 Select the Employee Fields tab.
27 Scroll down to the EmpLoan line, and clear the Use Defaults check box.
28 Enter 14100 in the Account field.
29 Check Calculated, and select LOAN from the Formula lookup list.

30 Click Save; then click Close.


31 To test the deduction, select Tasks, Payroll Entry. Click OK on any warning
you receive.
32 Enter an Employee ID of bentleyc.
33 Locate the EmpLoan field in the Taxes-Benefits-Liabilities Fields.

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Entering Calculated Payroll Fields

34 The deduction amount should show –150.00.

35 If the EmpLoan deduction is 0.00 or the wrong amount, you need to select
Close; select No when asked if you want to save the transaction, and double-
check the steps you used to set up the deduction. Typically, the problem is
related to the formula entered, so that is a good place to check first.
36 Once you have verified that the deduction is working, select Close; and select
No when asked if you want to save the transaction.

ACTIVITY 24 - SETTING UP A GARNISHMENT


Kirk Evan’s wages need to be garnished for $350 or 20% of wages earned after taxes,
whichever is less. A calculation will be used to ensure that the proper amount is
withheld. Follow these steps to set up the garnishment:
1 To set up the garnishment employee field, select Maintain, Default
Information, Employees.
2 Select the Employee Fields tab.
3 Scroll down, and find the first available blank line. Enter a Field Name of
Garnish.
4 The garnishment account has not yet been set up in the chart of accounts. To
add this account on the fly, click the lookup magnifying glass in the G/L

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PAYROLL
Entering Calculated Payroll Fields 6
Account field on the Garnish line; then click the New button located at the
bottom of the lookup list. This opens the Maintain Chart of Accounts window.
5 Enter an Account ID of 23950.
6 Enter an Account Description of Garnishment Payable.
7 Select Other Current Liabilities for the Account Type.
8 Click Save; then Close to return to the Employee Defaults window.
9 Ensure that G/L Account 23950 is entered on the Garnish line.
10 The remaining fields will be left blank. Because the garnishment affects only
Kirk, you will set up the remaining fields for his record only. Click OK.
11 To enter the garnishment calculation information, select File, Payroll
Formulas, User-Maintained.
12 On the User-Maintained Payroll Formulas window, enter a Formula ID of
GARNISH8.
13 Enter a Name of GARNISH 08.
The Tax Name for any payroll calculation must contain a name followed by a space and
then the last two digits of the year. GARNISH 08 will be used for payroll checks posted in
2008. When a payroll check for 2009 needs to be posted, a new calculation called
GARNISH 09 must be created.
14 For How do you classify this formula?, select Deduction.
15 In the Formula box, enter the following formula. Use CTRL+ENTER to move
to the next line. Each character must be entered exactly as shown:
LIMIT=350;
PERCENT=20;
A=ADJUSTED_GROSS+Fed_Income+Soc_Sec+Medicare+St_Income;
B=A*PERCENT%;
C=-YTD(Garnish)+Garnish;
D=B-((B+C)-LIMIT);
ANSWER=-IF((B+C)<LIMIT,B,D)

16 Click the Save button on the toolbar; then click Close.


If there is a mistake in the Formula entered, a message or series of messages will appear.
These messages indicate that the Formula is not entered correctly. In this case, you would
need to double-check the Formula entered with the one above to correct any mistakes.

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17 Now, Kirk’s employee record needs to be updated to include the calculation.


Select Maintain, Employees/Sales Reps.
18 Select evank from the Employee ID lookup list.
19 Select the Employee Fields tab.
20 Scroll down to the Garnish line, and clear the Use Defaults check box.
21 Enter 23950 in the Account field.
22 Check Calculated, and select GARNISH from the Tax Name lookup list.
23 Click the Adjust arrow button on the Garnish line. The Calculate Adjusted
Gross window opens.
24 Select the Use check box for Gross.
The Calculate Adjusted Gross window defines the ADJUSTED_GROSS variable used in
payroll formulas. Selecting Gross defines ADJUSTED_GROSS as just the Gross pay
amount for the garnishment calculation.
25 Click OK.
26 Click Save; then click Close.
27 To test the deduction, select Tasks, Payroll Entry. Click OK on any warning
you receive.
28 Enter an Employee ID of evank.
29 Locate the Garnish field in the Taxes-Benefits-Liabilities Fields.
30 If the Garnish deduction is 0.00, you need to select Close; select No when
asked if you want to save the transaction, and double-check the steps you used
to set up the deduction. Typically, the problem is related to the formula entered,
so that is a good place to check first.
31 Once you have verified that the deduction is working, select Close; and select
No when asked if you want to save the transaction.

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T IME AND B ILLING
................................... 7
T
ime and Billing tracks time spent and expenses incurred while
working on customer-related tasks. These amounts are tracked using
tickets that can be used to pay employees and to bill clients.
Time and Expense Tickets are available in Accounts Receivable for billing on
a sales invoice. Time Tickets can be used to pay employees. If a ticket is
assigned to a job, the Payroll or Accounts Receivable transaction created
based on the ticket will update Job Cost. The Payroll or Accounts Receivable
transactions created based on Time and Expense Tickets update the journals.
The journals in turn update the General Ledger. The flow of Time and Billing
tasks is illustrated below:

Ti me Sales/
Sales
Ti ck ets I nv oi c i ng
J ou r n al

Expense Jo b Co st General
Tic kets L edg er

Payro l l Payroll
E n tr y J ou r n al

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Time and Billing Ticket Types

TIME AND BILLING TICKET TYPES


........................................

To track time and expenses, Peachtree uses time tickets and expense tickets. Each ticket
can be assigned to a customer, job, or administrative task. Each ticket has its own special
type of inventory item. Activity items identify the type of work recorded on a time ticket.
Charge items identify the type of expense recorded on an expense ticket.

Time Ticket s
Time tickets are used to record time spent by individual employees or vendors for
activities performed. Time tickets record activities that have a timed duration associated
with them. These durations can be associated with customers, jobs, or administrative
projects. You can include billable time ticket durations on customer sales invoices.
Employee time tickets can also be applied to a paycheck if the employee is to be paid
based on recorded time ticket hours.
When we use time tickets, we answer five questions.
Who--Who did the work?
Did What--What did the employee do?
For Whom--For which customer, job, or project was the work done?
How Long--How long was the employee engaged on the project?
Billable or non-billable--Are the costs billable or non-billable?
There are two methods of entering time ticket information:
• Daily: Daily time tickets are used to record time spent performing a single activity by
an employee or vendor.
• Weekly: The weekly time sheet displays all the time tickets for a selected employee or
vendor based on the Week Including date. Each unit duration entered under a daily
column represents an individual time ticket.

Expense Ticket s
Expense tickets are used to track and aid in the recovery of customer-related expenses that
are not based on time. Expenses can be various charges related to a service being offered
to your customer. For example, an employee who travels to a customer’s office can record
the mileage on an expense ticket.

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TIME AN D BIL LI NG
Adding Time Ticket Employees 7
Using Ti me and Expense Ti ckets
You can track time and expense tickets for customers, jobs, or administrative purposes.
Each tracking option is detailed below:
• Customers: Time spent and expenses incurred can be associated with customers you
intend to bill in Sales/Invoicing. You should record time and expenses for customers if
you are not using job costing or if the item is not related to a job.
• Jobs: If you are tracking jobs, you can record time spent and expenses incurred for
jobs, phases, and cost codes. You can later apply billable time and expense items to the
customer’s invoice. The advantage to recording time and expense for jobs is that you
can track details related to the completion of the project, including overhead and labor
costs.
• Administrative: You can track internal activities using Time and Billing that can
effectively manage process-control and overhead costs for your business. For instance,
you may want to track the expenses incurred by an employee during a business trip.

ADDING TIME TICKET EMPLOYEES


........................................
Time tickets can be entered for any employee, but only employees using the Pay Method
Hourly--Time Ticket Hours can be paid based on the time tickets recorded. During payroll
entry, you can add or modify hours worked if the employee worked additional hours
during the payroll period. Job-related time tickets recorded for a time ticket employee
automatically distribute the wage expense to the job when the employee is paid.

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Adding Time Ticket Employees

ACTIVITY 25 - ADDING TIME TICKET EMPLOYEES


On February 13th, Abracadabra hired two new employees who will be paid based on
time ticket hours. Follow these steps to add these employees:
1 Select Maintain, then Employees/Sales Reps from the Menubar.
2 Enter the following information for each employee, remembering to click Save
after each employee:

Employee #1 Employee #2

Employee ID shawb mallardr

Name Bert Shaw Rick Mallard

Employee/Sales Rep/Both Both Both

232 W. Peachtree St. 19 S. Bridge St.


Address
Atlanta, GA 30112 Decatur, GA 30224

Telephone 1 770-555-0278 404-393-0786

Social Security 478-55-9645 232-09-4796

Hired Date 2/11/08 2/11/08

Pay Method Hourly-Time Ticket Hours Hourly-Time Ticket Hours

Rate Used to Bill


50.00 45.00
Customer

Pay Frequency Weekly Weekly

Regular Hourly Rate 16.00 13.00

Overtime Hourly Rate 24.00 20.50

Federal Filing Status Married Single

Federal Allow 2 1

State Filing Status Married/Jointly Single

State Allow 0 0

State/Locality GA GA

Local Filing Status Not Required Not Required

401k% 5.00 10.00

3 Click Close when you are finished.

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TIME AN D BIL LI NG
Entering Activity and Charge Items 7
ENTERING ACTIVITY AND CHARGE ITEMS
........................................
Activity items are used to identify the type of work recorded on time tickets. Charge items
are used to identify the type of expenses recorded on expense tickets. Both activity items
and charge items are set up as inventory items in the Maintain Inventory Items window.
• Activity Items: Activity items are time-measured tasks performed for customers, jobs,
or internal purposes. For example, a customer needs a company logo. One of your
employees will create the logo for them. The activity item in this example would be
Logo Design.
• Charge Items: Charge items are expenses recorded by an employee or vendor as a
result of services performed for a customer or job. Charge items are also used to record
administrative expenses within the company and even employee out-of-pocket
reimbursable expenses. For example, an employee travels to a customer’s office in
another state and pays for the hotel room. The charge item in this example would be
Lodging.
• Item Class: Select an item class from the drop-down list. Activity Item and Charge
Item are the two classes used for time and billing items.
Different fields will be available for each inventory class. Once an item has been saved,
the Item Class field cannot be changed.
• Item Type: This case-sensitive field can be used to filter records for reporting
purposes.

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Entering Activity and Charge Items

ACTIVITY 26 - ADDING ACTIVITY ITEMS


The employees paid based on time ticket hours will work on programming tasks, as
well as administrative tasks. These tasks will be set up as activity items so that time
tickets can track the time they work. Follow these steps to set up activity items:
1 Select Maintain, Inventory Items from the Menubar.
2 Enter the following information for each activity. Remember to click Save after
each item:
For the price field, you will initially see Billing Rate. Click the drop-down arrow to access
the price fields.

Activity Item #1 Activity Item #2 Activity Item #3

Item ID progc-ht progp-ht admin

HTML Programming- HTML Programming-


Description Administrative Tasks
Commercial Personal

Item Class Activity item Activity item Activity item

Description HTML programming for HTML programming for


for Sales commercial web site personal web site

List Price 45.00 45.00

Personal 0.00 43.50

Commercial 42.25 0.00

GL Income Acct 40400-C 40400-P 41000

Item Tax Type 2 2 2

Stocking U/M Hour Hour Hour

3 Click Close when you are finished.

ACTIVITY 27 - ADDING CHARGE ITEMS


The most common expenses that are tracked and billed to the customers will be
entered as charge items. Follow these steps to set up charge items:
1 Select Maintain, Inventory Items from the Menubar.

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Entering Activity and Charge Items 7
2 Enter the following information for each charge item. Remember to click Save
after each item.

Charge Item #1 Charge Item #2 Charge Item #3

Item ID misc-10100 misc-10200 misc-10300

Description Copies Faxes Parking Fees

Item Class Charge item Charge item Charge item

Description for Sales Copies Faxes Parking Fees

List Price 0.13 5.00 10.00

GL Income Acct 41000 41000 41000

Item Tax Type 1 1 2

Stocking U/M Each Each Each

3 Click Close when you are finished.

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Entering Time Tickets

ENTERING TIME TICKETS


........................................
Time tickets record an activity that has timed
duration associated with it. Employees or vendors
can record time spent performing activities, such as
talking on the phone with a client or researching
information for a project. Time tickets recorded
can be used to pay employees and to bill
customers.
There are two methods for entering time tickets.
You can enter single daily time tickets on the Time
Tickets window, or you can enter several time
tickets at once using a weekly time sheet.
To enter time tickets, select Tasks, Time/Expense,
Time Tickets from the Menubar.

Ti me Tickets Wi ndow
The Time Tickets window is used to enter information on tasks for customers, tasks for
jobs, or administrative tasks. Each tab is described below. Fields of interest are described
below:

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• Employee/Vendor: Select either Employee or Vendor from the drop-down list, then
enter the ID of the employee or vendor who is performing this activity.
• Has this ticket been applied to an invoice: This field tells you when the ticket has
been applied to a customer invoice. After the ticket has been applied to a sales invoice,
you cannot apply the ticket again.
If you delete an invoice created from time or expense tickets, all time and expense tickets
applied to the invoice will no longer be marked as applied to an invoice. You can then
apply these tickets to a new sales invoice.
• To be applied: Select Customer Invoice, Job, or Administrative Task from the drop-
down list. If you select Customer Invoice or Job, enter the ID of the customer or job for
whom the activity was performed. Customer and job time tickets will be available in
Sales/Invoicing. Administrative time tickets are non-billable and are only used for
tracking employee time.
• Enter Time/Calculate Time: Select Enter Time to enter the length of time for the
ticket. Select Calculate Time to enter a start and end time, as well as a break time.
Using this option, you track the actual hours. If you want to time the activity, such as a
phone call, click Start Timer.

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Entering Time Tickets

• Billing Status: Select the status here. Billable means the ticket will be available for
billing Sales Invoicing. No Charge means it can show up in Sales Invoicing but at a
zero dollar amount. Non-Billable means it will not show up in Sales Invoicing at all.
• Billing Type: Select the kind of billing the time ticket will use. Each affects the billing
rate and billing amount in a different manner. This field is not available when recording
administrative tickets.
• Billing Rate: Enter or select the rate for the time ticket. For time tickets using the
Employee Rate or Activity Rate, this value is multiplied by the Unit Duration to
calculate the Billing Amount. For time tickets using an Override Rate, you must enter a
billing rate in this field. This field will not be available if you selected Flat Fee as the
Billing Type.
• Has this ticket been applied to Payroll?: Indicates whether the time ticket has been
applied to one or more of the employee’s paychecks. This box is selected automatically
when a paycheck that uses the time ticket is entered

ACTIVITY 28 - ENTERING TIME TICKETS USING THE DAILY


TAB
Bert Shaw was hired on February 11th and is paid based on the exact hours worked.
His work for the week will be entered using time tickets. These time tickets will be
used to pay Bert and to bill customers for the work he has performed. Follow these
steps to enter time tickets using the Daily tab:
1 Select Tasks, Time/Expense, Time Tickets.
2 From the Employee lookup list, select shawb.
3 From the To be applied drop-down list, choose To a Customer Invoice.
4 Enter marriottw for the customer.
5 Choose progc-ht from the Activity Item lookup list.
6 Enter 02/11/08 in the Ticket date field.
7 Leave Pay Level set to Regular, and do not check Has this ticket been applied
to Payroll.
8 Choose Calculate Time with a Start time of 8:30 AM.
9 Enter an End time of 4:00 PM, and a Break of 1:00.
10 After you have entered the times, press ENTER or TAB to move to the next
field. Notice the Duration is 6:30, while the Unit duration displays the whole
number of 6.50.

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11 Leave the Billing status set to Billable.
12 The customer will be billed the regular activity rate. Select a Billing type of
Activity Rate.
13 Use the Billing rate drop-down list to select List Price. Press ENTER or TAB
to move to the next field.The Billing amount should be 292.50.

14 Click Save to record the time ticket.


15 Continue this activity on the next page.

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Entering Time Tickets

16 Using these steps as a guide, enter the following time tickets. Remember to
click Save after each ticket. The Unit duration and Billing amount are listed
for reference only:

Time Ticket #1 Time Ticket #2

Employee–Vendor Employee Employee

ID shawb shawb

To be applied Customer Invoice Customer Invoice

ID turnerb turnerb

Activity Item progp-ht admin

Ticket Date 02/12/08 02/13/08

Start time 8:30 AM 8:00 AM

End time 5:00 PM 5:00 PM

Break 1:00 1:00

Billing status Billable No Charge

Billing type Activity Rate Activity Rate

Billing rate 45.00 0.00

Unit duration 7.50 8.00

Billing amount 337.50 0.00

17 Once you have entered the last time ticket for Bert, select Close.

W E E K L Y T I M ES H E E T
The Weekly timesheet allows you to enter tickets for an entire week on a single window.
Many of the fields described on the Time Tickets window are found on the Weekly

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Timesheet window. The fields that are exclusive to the Weekly Timesheet window are
listed below:

• Daily Columns: Enter the time duration for the activity in the appropriate date column.
Each duration entered represents a single daily time ticket. Enter daily duration
amounts in decimal format. For example, 4 hours and 30 minutes would be entered as
4.5.

ACTIVITY 29 - ENTERING TIME TICKETS USING THE WEEKLY


TIMESHEET
Rick Mallard was hired on February 11th and is paid based on the exact hours
worked. His work for the week will be entered using time tickets. These time tickets
will be used to pay Rick and to bill customers for the work he has performed. Follow
these steps to enter time tickets using the Weekly tab:
1 Select Tasks, Time/Expense, Weekly Timesheet.
2 Enter mallardr for the Employee.
3 Enter 02/16/08 in the Week including field.
4 Each activity will appear on a line on the Weekly Timesheet. Each duration for
the activity will appear in a date column. In the Customer/Job/Administrative
field, select Customer and press TAB to move to the next field.
5 Enter a Customer ID of bishopk.
6 Click in the Activity Item field on the first line. Enter progp-ht.
7 Set Billing Status to Billable.

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8 Leave Billing Type set to Employee rate, and press TAB.


9 Billing Rate should show 45.00.
10 Leave Pay Level set to Regular, and press TAB.
11 Enter a duration of 4.50 in the 2/11 column on the first line.
12 Using these steps as a guide, enter the remaining time tickets for Rick. The
Totals field is listed for reference only:

2nd Line 3rd Line

Customer/Job/Ad
Administrative Customer
ministrative

Customer/Job ID marriottw

Activity Item admin progc-ht

Billing Status Non-Billable Billable

Billing Type Activity Rate

Billing Rate 0.00 45.00

Pay Level Regular Regular

M 2/11

T 2/12

W 2/13 3.50

T 2/14 4.00 4.00

F 2/15 5.00 3.00

Total Hours 12.50 7.00

13 Select Save when finished, then Close.

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Using Time Tickets to Pay Employees 7
USING TIME TICKETS TO PAY EMPLOYEES
........................................
Employees assigned to the Pay Method of Hourly--Time Ticket Hours can be paid
based on the time tickets recorded. When time ticket employees are selected in either the
Payroll Entry window or the Select Employees to Pay window, their hours are
calculated based on the time tickets recorded.
Both the Pay Frequency of the employee and the Pay Period End date used in Payroll
Entry determine which time ticket hours the employee will be paid for.
If the time tickets are associated with jobs, the hours will automatically be allocated to the
jobs.

ACTIVITY 30 - USING TIME TICKET HOURS IN PAYROLL


Bert and Rick need to be paid on February 16st for the work they have performed.
The time tickets entered for each will provide the exact hours worked for the
paychecks. Follow these steps to enter paychecks using time ticket hours:
1 Select Tasks, Payroll Entry.
2 Choose mallardr from the Employee ID lookup list.
3 If you do not want to print the check, enter a Check Number of 1212.
4 If you want to print the check, leave the Check Number field blank.
5 Change the Date and the Pay Period End to 02/15/08.
6 Ensure the Cash Account selected is 10300.

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Using Time Tickets to Pay Employees

7 Regular hours should equal 24.00, and Gross Pay should be $312.00.

8 If you do not want to print the check, click Save.


9 If you want to print the check, click the Print button. Enter 1212 for the First
Check Number, and click Print.
10 Choose shawb from the Employee ID lookup list.
11 If you do not want to print the check, enter a Check Number of 1213.
12 If you want to print the check, leave the Check Number field blank.
13 Change the Date and the Pay Period End to 02/15/08.
14 Ensure the Cash Account selected is 10300.

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Using Time Tickets to Pay Employees 7
15 Regular hours should equal 22.00, and Gross Pay should be $352.00.

16 If you do not want to print the check, click Save, then Close.
17 If you want to print the check, click the Print button. Enter 1213 for the First
Check Number, and click Print. Click Close.

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Entering Expense Tickets

ENTERING EXPENSE TICKETS


........................................
Expense tickets record customer-related expenses.
Employees or vendors can record expenses
performing tasks such as making copies or sending
faxes. Expense tickets can be used to bill
customers and to track reimbursable employee
expenses.
To enter expense tickets, select Tasks,
Time/Expense, Expense Tickets from the
Menubar.

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Expense Tickets Window
The Expense Tickets window is used to enter information on customer-related costs.
Fields of interest are described below:

• To be applied: Select Customer Invoice, Job, or Administrative Task from the drop-
down list. If you select Customer Invoice or Job, enter the ID of the customer or job for
whom the expense was incurred. Customer and job time tickets will be available in
Sales/Invoicing. Administrative time tickets are non-billable and are only used for
reporting purposes.
• Reimbursable to employee: Select this check box if the expense needs to be paid back
to an employee. Expense tickets selected as reimbursable to the employee can be
viewed in the Reimbursable to Employee Expense report.
• Billing status: Select from the following choices:
- Billable: Makes the ticket available in Sales/Invoicing for customer billing.
- Non-Billable: Makes the ticket unavailable in Sales/Invoicing. When entering an
administrative ticket, this status is automatically applied.
- Hold: Makes the ticket unavailable in Sales/Invoicing. At a later time, the status can
be changed by editing the ticket.
- No Charge: Forces the Billing Amount to zero and makes the ticket available in
Sales/Invoicing. This status can be used to let the customer know that work was
performed at no charge.

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ACTIVITY 31 - ENTERING EXPENSE TICKETS


The expense tickets turned in February need to be entered. Follow these steps to enter
expense tickets:
1 Select Tasks, Time/Expense, Expense Tickets.
2 Select Vendor from the Employee–Vendor radio buttons.
3 Select 01comp for the Vendor.
4 In the Customer field, enter turnerb.
5 Enter misc-10200 for the Charge Item.
6 The Ticket Date is 02/22/08.
7 Click the Note button in the toolbar.
8 On the Expense Tickets Note window, enter Our fax down, had to use
Computers R Us to send faxes. This will create an internal note for this ticket.
9 Click OK.
10 Enter a Quantity of 3.00.
11 Enter a Unit Price of 5.00.
12 Leave the default Billing Status.
13 The resulting Billing Amount should be 15.00.

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14 Click Save to record the expense ticket.
15 Using these steps as a guide, enter the following expense tickets. The Billing
Amount is listed for reference only:

Expense Ticket #1 Expense Ticket #2

Employee–Vendor Employee Employee

ID mallardr davisj

To be applied Customer Invoice Customer Invoice

ID bishopk langley

Charge Item misc-10100 misc-10300

Ticket Date 02/21/08 02/21/08

Reimbursable
unchecked checked
to Employee

Customer requested Delivered contract


Internal Note hard copies of web to customer and paid
site for parking

Billing Status Billable Billable

Quantity 100.00 1.00

Unit Price 0.13 10.00

Billing Amount 13.00 10.00

16 Click Close when you are finished.

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Applying Tickets to Sales Invoices

APPLYING TICKETS TO SALES INVOICES


........................................
Time and expense tickets can be applied to sales invoices to bill customers for time spent
or expenses incurred. You can write up time and expense items on the sales invoice,
allowing you flexibility in billing amounts. Multiple time tickets can be consolidated into
a single group that would appear as one line item on the invoice. You can also consolidate
expense ticket items into a single group.
Only those tickets that have a billing status of Billable or No Charge are available to apply
to sales invoices. You cannot apply Administrative tickets to sales invoices since they are
not associated with a customer or job. Once time and expense tickets are applied to a sales
invoice, the items are marked as used and cannot be applied to a second invoice.

Apply Tickets/Expenses Window


To apply tickets to an invoice, click the Apply Tickets/Expenses arrow button on the
Sales/Invoicing window. Tabs are available for Time Tickets, Expense Tickets, and
Reimbursable Expenses. You can use buttons in the toolbar to write-up tickets, mark all
for billing, or mark tickets as non-billable. The Time Tickets tab, Expense Tickets tab,
and fields of interest are described below:

• Use Ticket Description for Invoicing: Select this option to display information
entered in the Ticket Description for Invoicing box for the selected ticket(s) on the
customer invoice.
• Use Item Description for Invoicing: Select this option to display the item description
on the customer invoice.

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These options are available only if No Consolidation is selected in the Consolidate By
drop-down list.
• Consolidate by: Select the method of consolidation to use for the tickets selected.
Tickets will be summarized on the invoice based on the consolidation method.
• Invoice Amount: Displays the amount that will be billed for the ticket on the customer
invoice. If necessary, enter a new amount or use the Write Up button to calculate new
invoice amounts for the tickets selected.
• Use: Select this check box to apply this ticket to the invoice.
• No Bill: Select this check box to change the ticket’s Billing Status to non-billable. The
ticket will not appear on the customer invoice and will not be available for billing in the
future.

ACTIVITY 32 - APPLYING TIME AND EXPENSE TICKETS TO


CUSTOMER INVOICES
Time and expense tickets need to be billed to a few customers. Each ticket will be
applied to a sales invoice, which will be sent to the customer. Follow these steps to
apply time and expense tickets to customer invoices:
1 Select Tasks, Sales/Invoicing.
2 From the Customer ID lookup list, select bishopk.
3 Enter a Date of 02/29/08.
4 If you do not want to print the invoice, enter an Invoice # of 22003.
5 If you want to print the invoice, leave the Invoice # blank.

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6 Click the Apply Tickets/Expenses arrow button located in the lower-left corner
of the Sales/Invoicing window.

7 A Ticket Description for Invoicing was not entered for the time tickets, so
choose Use Item Description for Invoicing.
8 Select the Use check box for the one time ticket present. Since the Billing Rate
was used for the ticket, there is no need to write up the amount.
9 Select the Expense Tickets tab. Select Use Item Description for Invoicing.
10 Select the Use check box for the one expense ticket present.
11 Click OK on the toolbar to apply the tickets to the invoice.
12 There should be two lines listed on the invoice with an Invoice Total of 216.28.
13 If you do not want to print the invoice, click Save.
14 If you want to print the invoice, click the Print button. Enter 22003 for the
First Invoice Number, and click Print.
15 From the Customer ID lookup list, select marriottw.
16 Enter a Date of 02/29/08.
17 If you do not want to print the invoice, enter an Invoice # of 22004.
18 If you want to print the invoice, leave the Invoice # blank.

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Applying Tickets to Sales Invoices 7
19 Click the Apply Tickets/Expenses arrow button located in the lower-left corner
of the Sales/Invoicing window.

20 Select the Use check box for each time ticket present. Since the Billing Rate
was used for the ticket, there is no need to write up the amount.
21 Select Activity Item in the Consolidate By drop-down list.
22 Click OK on the toolbar to apply the tickets to the invoice.
23 There should be one line listed on the invoice with an Invoice Total of 607.50.
24 If you do not want to print the invoice, click Save.
25 If you want to print the invoice, click the Print button. Enter 22004 for the
First Invoice Number, and click Print.
26 Click Close.

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Time and Expense Reports

TIME AND EXPENSE REPORTS


........................................
Time and expense reports provide information related to tickets
entered, as well as tickets used in Payroll and Accounts
Receivable. To preview or print these reports, select
Time/Expense from the Reports & Forms menu.

Report Descr iptions


• Aged Tickets: This report shows the aging status of time and expense tickets for
specific customers that have not been billed. The report can be summarized by billing
status, item, or job/phase to show how the unused billable tickets are aged in each of
those categories. It is useful for determining which tickets need to be billed to
customers.

5/1/03 at 15:45:33.73 Page: 1 of 1


Bellwether Garden Supply
Aged Tickets
As of Mar 31, 2007
Filter Criteria includes: Report order is by For Customer ID. Report is printed in Detailed Format.

For Customer ID Ticket Number 0 - 30 31 - 60 61 - 90 Over 90 day Billing Amount Total Billing

ALIGOOD-01 000011
000012 399.92 399.92

399.92 399.92

ARCENEAUX-01 000013 399.92 399.92

399.92 399.92

CHAPMAN-MUR 000014 399.92 399.92

399.92 399.92

1,199.76 1,199.76

• Employee Time: A listing of time tickets recorded by employee. This report can be
summarized by customer, item, billing status, or job to aid in analysis. It is useful for
tracking how employee time is being spent.

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• Expense Ticket Register: Lists each recorded expense ticket. This report is useful for
verifying that all expense tickets have been entered and billed.
• Payroll Time Sheet: A list of time tickets recorded by employees for a specified pay
period. This report is useful if you pay employees based on time tickets and you want
to preview payroll information before paychecks are entered. You can verify that
employee time sheets are accurate, see the number of hours an employee worked, and
see which tickets the employee has been paid for.
• Reimbursable Employee Expense: This report lists expense tickets selected as
reimbursable to employees. It is useful for preparing expense checks.
• Ticket Listing by Customer: Lists work performed and billing amounts by customer.
Using this report, you can evaluate customer revenue, see which activity or charge item
you provide most for your customers, and identify your customers’ needs for the
future.
• Tickets Recorded By: Lists tickets recorded by each employee or for each vendor,
including the ticket number, ticket date, type of ticket, item ID, and billing amount. By
viewing this report, you can see what the employee or vendor has recorded. This report
helps track tickets for each employee or vendor.
• Tickets Used in Invoicing: A list of tickets that have been billed to customers. This
report is useful for answering customer questions about a bill. You can enter the
customer ID and invoice number on the filter window to display all tickets applied to
the invoice that fall within a specific date range.
• Tickets by Item ID: Lists each activity and charge item by ID. This report can be used
to see how your business is doing based on each item, to determine whether you need
to charge more for an activity or charge item based on its use, to estimate the duration
of activity items, and to determine which items produce the most revenue.
• Time Ticket Register: Tracks time spent on work related to jobs, customers, or
administrative tasks. This report lists all time tickets and the billing status of each. This
information is useful for verifying that all time tickets have been entered and billed.

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J OB C OST
................................... 8
J ob Cost can be updated by many types of transactions. Sales of items
and purchases of non-stock items, job-related Time and Expense
tickets, payroll checks allocating hours or wage expenses to jobs,
inventory adjustments to jobs, and General Journal entries to jobs all update
Job Cost. Each transaction updates the journals. The journals in turn update
the General Ledger. The flow of Job Cost tasks is illustrated below:

Payroll Entry Payroll


Jo b Cos t
Jou r n al

Ex pe nse
Tic kets
Ti me
Ti ck ets

Sales/Invoicin g
Sales
Jou r n al

Pu rch ase s/
Pu rch as es General
Rece ive In ven tory
Jo urn al L edg er

In ven tory In ve nto ry


Adjustme nts Ad ju stme nts J ou rn al

G en er a l J ou r n al E nt r y Gen er al Jo ur na l

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About Jobs

ABOUT JOBS
........................................
All of the previous chapters dealt with specifically defined records. In accounting, a
customer or vendor is basically the same regardless of the type of business you run. In
contrast, jobs can be set up to track profitability for a wide variety of processes or
business functions. Most people think of jobs as something used only for construction-
type businesses. However, you can use jobs to help you track profitability on countless
tasks. Here are a few examples:
• A used car dealer purchases automobiles, then needs to track the expense incurred as
the vehicle is cleaned and repaired for sale. The car can be set up as a job. The purchase
of the car is then applied to the job. As expenses are incurred, they are applied to the
job as well. When the car is ready for sale, the total of the applied expense is the actual
cost of the car. When the car is sold, the revenue can be applied to the job as well. This
gives the dealer the ability to track which cars are more profitable in order to make
better buying decisions in the future.
• Another example could be a firm that bills for time. Why use jobs? You have the ability
to track many jobs for a single customer. So, if separate billing is required for different
services you provide, Peachtree makes it easier for you to track your time for billing
purposes. Simply set up each service as a job for the customer. When applying
reimbursable expenses in sales invoicing, you can sort and consolidate by job, phase,
and cost code. As an example, a large corporation might employ a law firm. The
corporation has many locations that use the law firm's services and wants to track
expenses by location. Therefore, they insist on being billed by location. If the law firm
sets up each location as a job, with the corporation as the customer, they would then be
able to apply reimbursable expenses in sales invoicing using the Sort and Use features
to easily bill for a single job.
• A third example might be a non-profit agency. Jobs can be set up to track the money
received and expensed from grants. This can be especially helpful when all the money
is handled in one bank account. Each grant can be set up as a job with budget figures
entered as estimates of the job. As money is spent, the transactions are applied to the
job. This makes it easy to get reports that show both the estimated expense (budget),
and the actual expense (money spent) for each grant.

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Entering Job Defaults 8
ENTERING JOB DEFAULTS
........................................
To access the Default Information window for jobs,
select Default Information, Jobs from the
Maintain menu.

Job Defaults Wi ndow


The Job Defaults window is used to enter billing and retainage options, labor burden
options, and the custom field labels used by jobs.

BILLING AND RETAINAGE


On the Billing and Retainage tab, you can enter a default billing method and default
retainage percentage for your jobs, as well as the accounts to which retainage amounts
will be applied when you enter sales and purchase invoices.

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Entering Job Defaults

You must have created a general ledger account with Account Type of either Receivables
Retainage or Payables Retainage before the Retainage options will appear on this tab.
Also, you must have entered an account number in the fields before Peachtree will allow
you to apply retainage when you enter sales or purchase invoices.

L A BO R B U RD E N T AB
If you apply labor burden during payroll entry, you will enter a default labor burden
amount for your jobs here. In addition, you must enter the Labor Burden Cost of Sales and
Applied Labor Burden accounts here before Peachtree will allow you to apply labor
burden to your jobs.

CUSTOM FIELDS TAB


On this tab, enter any custom field labels you want to use for your jobs.

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Adding Jobs 8
ADDING JOBS
........................................
After entering the default information for jobs, the next
step is to enter jobs, phases, and cost codes. Select Job
Costs from the Maintain menu to display three
additional options for Jobs, Phases and Cost Codes.

To add jobs, select Job Costs, Jobs from the Maintain


menu.

Maintain Jobs Window


The Maintain Jobs window is used to enter, change, and store information about your
jobs. Each tab is described below:

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Adding Jobs

HEADER FIELDS
• Job ID: Identifies the job in lookup lists, transactions, and reports.
• Description: Enter a brief description for the job. This description displays in lookup
lists and on reports.
• Use phases to track job in more detail: Check this box if the job is divided into
phases.
• Inactive: Check this box to make the ID inactive. Inactive records are deleted when the
purge utility is run, if all transactions related to the record have been purged. Inactive
records can be used in transactions, but a message appears, reminding you of the
inactive status.

GENERAL TAB
Jobs are entered and maintained on the General tab. From this window, jobs are assigned
to customers, job starting and ending dates are selected, and beginning balances are
entered. Fields of interest are described below:
• For Customer: Select the ID of the customer to whom the job is assigned. This is a
required field if you want to use the Apply Reimbursable Expenses feature.
• Job Type: This case-sensitive field can be used to filter records for reporting purposes.

E S T I M AT E D EX P E N SE S & R E VE N U E T A B
Select the Estimated Expenses & Revenue tab to enter estimated expenses and revenues
for a job. Comparing actual costs and revenues with estimated costs and revenues gives
you the ability to create a more accurate estimate for the next job. Job estimates should be
entered after the jobs, phases, and cost codes are entered. This tab is explained in more
detail later in this chapter.

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Adding Jobs 8
NOTES TAB
Use this tab to keep track of notes related to the job.

ACTIVITY 33 - SETTING UP A JOB


Marriott hotels has contracted with Abracadabra to create and maintain the Web site
for their Windy Hill Road location for three months. To track expenses and revenue
pertaining to this contract, it will be set up as a job. Another job will be set up for
Kelly Bishop. Because her Web site is a one-day job, it will be billed on a cost-
process basis. Follow these steps to enter a job:
1 Select Maintain, Job Costs, Jobs from the Menubar.
2 Enter cws-marriott-01 in the Job ID field.
3 Enter Marriott (Windy Hill) Web Site in the Description field.
4 Select the Use phases to track job in more detail check box.
5 Enter 02/04/08 in the Start Date field.
6 Select marriottw from the For Customer lookup list.

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Adding Jobs

7 In the Job Type field, enter COSTPLUS. The remaining fields should be left
blank.

8 Click Save & New.


9 Now, enter the job information for Kelly Bishop’s Web site. Enter pws-bishop-
01 in the Job ID field.
10 Enter Kelly Bishop Web Site in the Description field.
11 Ensure that the Use phases to track job in more detail check box is clear.
12 Enter 02/04/08 in the Start Date field.
13 Select bishopk from the For Customer lookup list.
14 In the Job Type field, enter COSTPROC.
15 Click Save, then Close.

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Adding Phases 8
ADDING PHASES
........................................
Phases are used to divide jobs into segments. A phase can
be defined as a specific period of time, a specific type of
activity, or any other division that breaks a job into clearly
defined segments. Phases that do not use cost codes
categorize expenses into one of five cost types.To add
phases, select Job Costs, Phases from the Maintain
menu.

Maintain Phases Wi ndow


The Maintain Phases window is used to enter, change, and store information about the
phases of your jobs. Fields of interest are described below:

• This phase uses the cost type: Select this option if the phase is not divided into cost
codes. If you do not use cost codes with this phase, you must select a Cost Type for the
phase. If you select this option, choose a Cost Type from the drop-down list.
• This phase uses cost codes: Select this option if the phase is divided into cost codes.

ACTIVITY 34 - SETTING UP PHASES


To have more detailed tracking of the jobs, Abracadabra will use phases to divide the
job into parts. Follow these steps to enter phases:
1 Select Maintain, Jobs Costs, Phases.
2 Enter 010-planning in the Phase ID field.

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Adding Phases

3 Enter Planning in the Description field.


4 Select the This phase uses cost codes radio button.

5 Click Save & New to add the next phase.


6 Using these steps as a guide, enter the remaining phases. Remember to click
Save & New to add the next phase:

Phase ID Description This phase uses cost codes


020-design Design and Layout selected
030-proofing Proofing and Touch-up selected
040-printing Printing and Delivery selected

7 Two additional phases will be set up for additional job expenses and revenue.
8 Enter 998-overhead in the Phase ID field.
9 Enter Overhead Expenses in the Description field.
10 Select This phase uses the cost type, and choose Other from the list.
11 Click Save & New to add the next phase.
12 Enter 999-revenue in the Phase ID field and Revenue in the Description field.
13 Select This phase uses the cost type, and choose Other from the list.
14 Click Save, then Close.

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Adding Cost Codes 8
ADDING COST CODES
........................................
Cost codes identify a specific cost within a phase. Using
cost codes provides a greater level of detail for tracking
job expenses and revenues. Each cost code must have one
of the five cost types associated with it. It is best to start
with a few, general cost codes and add more when new
types of expenses are incurred. To add cost codes, select
Job Costs, Cost Codes from the Maintain menu.

Maintain Cost Codes Window


The Maintain Cost Codes window is used to enter, change, and store information about
the cost codes that make up each phase.

ACTIVITY 35 - SETTING UP COST CODES


Cost codes will be added to allow even more detailed tracking of jobs. Follow these
steps to set up cost codes:
1 Select Maintain, Jobs Costs, Cost Codes.
2 In the Cost ID field enter 010-books.
3 Enter Web Info Books for the Description.

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Adding Cost Codes

4 Select Materials from the drop-down list.

5 Click Save & New to add another cost code.


6 Using these steps as a guide, enter the remaining cost codes. Remember to click
Save & New to add the next cost code:

Phase ID Description Cost Type

020-direct labor Direct Labor Labor

030-indirect labor Subcontracted Labor Labor

7 Click Close when finished.

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Entering Job Beginning Balances 8
ENTERING JOB BEGINNING BALANCES
........................................
Beginning balances are assigned to jobs using the Job Beginning Balances button on the
General tab. Beginning balances are job-related expenses or revenues that have been
recognized prior to using Peachtree. Job beginning balances do not affect the General
Ledger. These beginning balances should be entered after the jobs, phases, and cost codes
are entered.
If you entered beginning balances in Accounts Payable or Accounts Receivable and the
transactions were applied to jobs, the beginning balances must also be entered in job cost.
If you entered transactions that should have been applied to job cost but were not, you can
also enter them on the Job Beginning Balances window.

Job Beginning Balances Window


The Job Beginning Balances window is used to enter information regarding job
expenses and revenue you have not entered in Peachtree. Each tab is described below:

J O B B AL A N C E S T A B
This tab lists the sum of the expense and revenue beginning balances. If you want to
adjust beginning balances for a job, double-click the job.

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Entering Job Beginning Balances

J O B EN T R I ES F O R : T A B
This tab is used to enter the beginning balances for the job, phases, and cost codes. Fields
of interest are described below:

• Phase ID: If the job uses phases, select the phase associated with the job, and enter the
beginning balance. If a job does not use phases, this field will not be available.
• Cost Code ID: If the job uses cost codes, select the cost code associated with the
phase, and enter the beginning balance. If a phase does not use cost codes, this field
will not be available.
You cannot enter a beginning balance for both expense and revenue on the same line.

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Entering Job Estimates 8
ENTERING JOB ESTIMATES
........................................
The Estimated Expenses and Revenue tab on the Maintain Jobs window is used to
enter estimated expenses and revenues for a particular job. A job estimate is an
approximate cost for a job or part of a job. As a job progresses, reports can be run that
compare estimated figures to actual figures. Job estimates should be entered after the jobs,
phases, and cost codes are entered.

E S T I M AT E D EX P E N SE S A N D R EV E N U E T A B
Select the Estimated Expenses and Revenue tab to enter estimated expenses and
revenues for a job. Comparing actual costs and revenues with estimated costs and
revenues gives you the ability to create a more accurate estimate for the next job. If the
Use phases to track job in more detail box is unchecked, only two fields will appear,
allowing you to enter expenses and revenues for the job.

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Entering Job Estimates

If Use phases to track job in more detail is checked, the following fields appear:

ACTIVITY 36 - CREATING A JOB ESTIMATE


Expenses and revenues have been determined for the Marriott job. Follow these steps
to enter a job estimate:
1 Select Maintain, Job Costs, Jobs.
2 Select cws-marriott-01 from the Job ID lookup list.
3 Select the Estimated Expenses and Revenue tab.
4 Enter expense and revenue estimate amounts for each phase and cost code
listed:

Phase ID Cost Code ID # of Units Expenses Revenues

010-planning 020-direct labor 12.00 200.00 400.00

020-design 020-direct labor 17.00 230.00 460.00

030-proofing 020-direct labor 10.00 160.00 320.00

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Entering Job Estimates 8
Phase ID Cost Code ID # of Units Expenses Revenues

040-printing 030-indirect labor 20.00 350.00 700.00

998-overhead 95.00 220.00

5 Click Save; then click Close.

ACTIVITY 37 - COPYING FROM AN EXISTING JOB


Langley Enterprises has decided to contract with Abracadabra to create and maintain
its Web site for 3 months. Since this is the same type of job as the job for Marriott, we
can copy the existing information, then edit as necessary. Langley will be billed on a
contract basis: one third when the site is complete, the remaining two thirds to be
billed each month. Follow these steps to copy from an existing job:
1 Select Maintain, Job Costs, Jobs.
2 Select cws-marriott-01 from the Job ID lookup list.
3 Next, change cws-marriott-01 to cws-langley-01.
4 Change the Description to Langley Web Site.
5 Enter a Start Date of 02/05/08.
6 On the General tab, select langley from the For Customer lookup list.
7 Enter CONTRACT in the Job Type field.
8 Select the Estimated Expenses and Revenue tab, and edit the amounts to
reflect the information below:

Phase ID Cost Code ID # of Units Expenses Revenues

010-planning 020-direct labor 15.00 300.00

020-design 020-direct labor 18.00 350.00

030-proofing 020-direct labor 10.00 200.00

040-printing 030-indirect labor 20.00 350.00

998-overhead 145.00

9 On the next line, select a Phase ID of 020-design and a Cost Code ID of 030-
indirect labor.
10 Enter 13.00 for the # of Units and 250.00 for the Expenses.

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11 On the next line, select a Phase ID of 999-revenue.


12 Enter 3200.00 in the Revenues field on the 999-revenue line.

On your job reports, the phase IDs will be listed in alphabetical or numerical order. In
addition, when you save these estimates, Peachtree will rearrange the list of Phase IDs in
numerical order.
13 After making the changes, click Save, then Close.

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Selecting a Job 8
SELECTING A JOB
........................................
When assigning a job ID to a transaction, the cost or expense is applied to either the job,
phase code, or cost code. The drop-down list below appears whenever a transaction is
applied to a job.

Folders represent jobs that use phases and phases that use cost codes. Double-click a job
folder to display the phases for the job. Double-click a phase folder to display the cost
codes for the phase.

Jobs that do not use phases are represented by a J; phases without cost codes are
represented by a P; and cost codes are represented by a C.

To select any part of a job, click once on the job, phase, or cost code, and press ENTER.

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Using Jobs with Accounts Payable

USING JOBS WITH ACCOUNTS PAYABLE


........................................
Purchases of items not related to inventory--such as sub-contract labor, non-inventory
items, or other job-related expenses--can be applied to jobs in Accounts Payable through
Purchases/Receive Inventory on the Apply to Purchases tab. When an invoice is
posted, the cost of each job-related line item is assigned to the job. These costs can be
billed to a customer through Sales/Invoicing.

To apply a purchase to a job, enter the line items as you would for any purchase. Then,
select the job, phase, or cost code in the Job field for each line that should be applied to a
job. If necessary, each line can use a different job, phase, or cost code.
Purchases of stock or assembly inventory items cannot be applied to a job on a purchase.
These items are applied to a job on the Inventory Adjustment window or the
Sales/Invoicing window. An inventory adjustment applies an expense to the job, while a
sale of a stock or assembly item applies both an expense and revenue amount to the job.

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ACTIVITY 38 - APPLYING PURCHASES TO A JOB
A purchase invoice needs to be entered for printing services needed for the Marriott
job. On the same purchase, books were bought to replenish the book inventory.
Follow these steps to apply a purchase to a job:
1 Select Tasks, Purchases/Receive Inventory.
2 Select 01comp from the Vendor ID lookup list.
3 Enter 02/21/08 in the Date field.
4 Enter Invoice # 5010.
5 Select the Apply to Purchases tab.
6 On the first line, enter Printed draft of Training Guide for Marriott web site in
the Description field.
7 Change the GL Account to 58000.
8 Enter an Amount of 100.00.
9 In the Job field, click the lookup to open the list of jobs.
10 Click the cws-marriott-01 folder to display the phases of the job.
11 Next, click the 040-printing folder to display the cost code list.
12 Then, click the 030-indirect labor cost code to complete the selection.

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13 On the second line, enter a Quantity of 20.00.


14 Select bintro1 for the Item ID.
15 Enter a Unit Price of 12.00.
16 Because the books are not being purchased for a specific job, leave the Job field
blank.
17 Click Save, then Close.

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Using Jobs with Time Tickets 8
USING JOBS WITH TIME TICKETS
........................................
Time and expense tickets can be assigned to jobs. Then, when the time ticket is used in
Payroll Entry, the expense is applied to the job. When the time or expense ticket is billed
in Sales/Invoicing, the revenue amount is applied to the job. Remember that the ticket
must be used in Payroll Entry or in Sales/Invoicing to be recognized by the job.

ACTIVITY 39 - APPLYING TIME TICKETS TO A JOB


The work done by employees for specific jobs will be entered as time tickets. These
time tickets will be used to pay employees and applied to customer invoices. Bert’s
time will be entered using the Daily tab on the Time Tickets window. The time
tickets entered will be applied to the job when employees are paid. Follow these steps
to enter time tickets for a job using the Daily tab:
1 Select Tasks, Time/Expense, Time Tickets.
2 From the Employee lookup list, select shawb.
3 From the To be applied drop-down list, choose Against a Job.
4 Select cws-langley-01, 020-design, 020-direct labor from the job lookup list.
5 Choose progc-ht from the Activity Item lookup list.
6 Enter 02/20/08 in the Ticket Date field.
7 Choose Calculate Time.
8 Enter a Start time of 8:30 AM.
9 Enter an End time of 5:00 PM.
10 Enter a Break of 1:00.
11 After you have entered the times, press ENTER or TAB to move to the next
field. Notice the Duration is 7:30 or 7 hours, 30 minutes, while the Unit
Duration is the whole number of 7.50.
12 These hours will be billed, so leave Billable for the Billing Status.
13 Change the Billing Type to Activity Rate.
14 Select List Price as the Billing Rate.
15 The Billing Amount should be 337.50.
16 Leave Pay Level set to Regular, and do not select Has this ticket been used in
Payroll.

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17 Click Save to record the time ticket.


18 Using these steps as a guide, enter the following time tickets. The Unit
duration and Billing amount are listed for reference only:

Time Ticket #1 Time Ticket #2 Time Ticket #3

Employee–Vendor Employee Employee Employee

ID shawb shawb shawb

To be applied Against a job Against a job Against a job

Job cws-langley-01 cws-marriott-01 cws-langley-01

Phase 020-design 020-design 030-proofing

Cost Code 020-direct labor 020-direct labor 020-direct labor

Activity Item progc-ht progc-ht progc-ht

Ticket Date 02/21/08 02/21/08 02/22/08

Start Time 8:00 AM 1:00 PM 8:30 AM

End Time 12:00 PM 7:30 PM 6:30 PM

Break 0:00 0:30 1:30

Billing Status Billable Billable Billable

Billing Type Activity Rate Activity Rate Activity Rate

Billing Rate 45.00 45.00 45.00

Unit Duration 4.00 6.00 8.50

Billing Amount 180.00 270.00 382.50

19 Click Close.

ACTIVITY 40 - ENTERING TIME TICKETS FOR A JOB USING


THE WEEKLY TIMESHEET
Rick’s time will be entered using the Weekly Timesheet. Follow these steps to enter
time tickets for a job using the Weekly Timesheet:
1 Select Tasks, Time/Expense, Weekly Timesheet.
2 Enter mallardr for the Employee.
3 Enter 02/23/08 in the Week including field.

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4 Each activity will appear on a line on the Weekly Timesheet. Each duration for
the activity will appear in a date column.
5 Select Job from the drop-down list, and press TAB to move to the next field.
6 Select cws-langley-01, 030-proofing, 020-direct labor for the Job.
7 Click in the Activity Item field on the first line. Enter progc-ht.
As you enter the information, you can press TAB to move to the next field or SHIFT+TAB
to move to the previous field.
8 Billing Status should remain Billable
9 Change Billing Type to Activity rate, and press TAB.
10 Set the Billing Rate to 45.00.
11 Leave Pay Level set to Regular, and press TAB.
12 Enter a duration of 2.00 in the 2/18 column on the first line.
13 Continue to the next page to enter the remaining time tickets.

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14 Using these steps as a guide, enter the remaining time tickets for Rick. The
Totals field is listed for reference only:

2nd Line 3rd Line

To be applied Against a job Against a job

cws-langley-01, cws-marriott-01, 030-proofing, 020-


Customer/Job ID
020-design, 020-direct labor direct labor

Activity Item progc-ht progc-ht

Billing status Billable Billable

Billing type Activity rate Employee rate

Billing rate 45.00 45.00

M 2/18

T 2/19

W 2/20 6.0

T 2/21 8.0

F 2/22 2.0 8.0

Totals 16.0 8.0

15 Select Save when finished, then Close.

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Using Jobs with Payroll 8
USING JOBS WITH PAYROLL
........................................
Payroll hours and rates can be allocated to a job at the time paychecks are entered. Labor
costs can be applied to jobs through Select for Payroll Entry and Payroll Entry on the
Tasks menu. In either window, click the Jobs button on the toolbar to bring up the Labor
Distribution to Jobs window.

Labor Di st ribution to Jobs Window


This window is used to assign payroll hours to jobs for hourly employees or dollar
amounts to jobs for salaried employees. When a paycheck is posted, the wage expense is
applied to each job entered, and a reimbursable expense is created. This reimbursable
expense can be applied to a customer invoice in Sales/Invoicing.

ACTIVITY 41 - APPLYING PAYROLL HOURS TO A JOB


Some of the hours for a regular hourly employee need to be applied to jobs. Follow
these steps to apply payroll hours to jobs.
1 Select Tasks, Payroll Entry. If you get a message requesting you to register
your tax service, click OK to continue.
2 Select windsorb from the Employee ID lookup list.
3 If you do not want to print the check, enter a Check Number of 1214.
4 If you do want to print the check, leave the Check Number field blank.
5 Enter a Date of 02/22/08.

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6 Enter 02/22/08 in the Pay Period Ends field.


7 In the Hours Worked section, Regular hours should show 40 hours.
8 Click the Jobs button on the toolbar.

9 In the blank Job field, select cws-marriott-01, 010-planning, 020-direct labor


from the lookup list.
10 Leave the Hourly Field set to Regular.
11 In the Hours field, enter 12.00; then press ENTER or TAB.
12 The Amount should equal 180.00.
13 In the next blank Job field, select cws-langley-01, 010-planning, 020-direct
labor from the lookup list.
14 Leave the Hourly Field set to Regular.
15 In the Hours field, enter 15.00; then press ENTER or TAB.
16 The Amount should equal 225.00.
17 The thirteen remaining hours were not spent on activities pertaining to jobs.
18 Click OK to return to the Payroll Entry window.
19 If you do not want to print the check, click Save, then Close.
20 If you want to print the check, click the Print button. Enter 1214 for the First
Check Number, and click Print. The check will post automatically after it
prints. Then, click Close.

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Using Jobs with Inventory Items 8
USING JOBS WITH INVENTORY ITEMS
........................................
Inventory items can be distributed directly to a job through Inventory Adjustments.
When inventory stock is to be used on a job, it must be removed from inventory. This can
be done with a sales invoice; but in most instances, the customer is not billed for each
item used on a job. Then, an inventory adjustment can be made to reduce the stock and
apply the cost to the job. The cost applied to the job is set by the item’s costing method.
Inventory Adjustments will not appear on the Apply Expenses window. If you are using
Cost Plus Billing, you must factor in the costs for Inventory Adjustment transactions.

To distribute an inventory item cost directly to a job, use the Inventory Adjustments
window as you would for any other adjustment. Use the drop-down list to select the job,
phase, and cost code for the item being adjusted. The cost of the item being adjusted will
be applied to the job as an expense.

ACTIVITY 42 - APPLYING INVENTORY COST TO A JOB


An inventory adjustment must be made to remove two books from stock to be used
for the Langley job. Follow these steps to apply inventory cost to a job:
1 Select Tasks, Inventory Adjustments.
2 Enter bintro1 for the Item ID.
3 Enter a Reference of 022208 and a Date of 02/22/08.
4 In the Job field, select cws-langley-01, 040-printing, 010-books.
5 Ensure the GL Source Acct is 50000.
6 In the Adjust Quantity By field enter –2.00.
7 Enter For Langley job in the Reason to Adjust field.
8 Click Save, then Close.

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Using Jobs with General Journal Entries

USING JOBS WITH GENERAL JOURNAL ENTRIES


........................................
Certain transactions pertaining to Job Cost are entered and distributed to a job through the
General Journal Entry window. To apply a general journal entry to a job, enter the
transaction on the General Journal Entry window, and use the drop-down list to select
the job, phase, and cost code for each line that should be applied to a job.
Use the Debit side of an entry to apply an expense to a job. Applying a debit to a job not
only applies the expense to the job but also creates a reimbursable expense that can be
applied to a customer invoice.
As seen in the previous sections of this chapter, most expenses can be applied directly to
your jobs as the expense transaction is entered. Overhead expenses you plan to apply to
jobs will be handled in a different way. The original transactions are not applied to jobs
because these expenses are not associated with any one job. Instead, a General Journal
entry is used to distribute the overhead to the jobs.
To apply overhead to a job without overstating the expense, post the debit to the expense
account, and assign the appropriate job, phase, and cost code. Then, post the same amount
as a credit to the expense account without assigning a job, phase, and cost code. This
ensures that you have not affected the expense account balance but have applied the
overhead to the job.
For example, if you have posted transactions to recognize the following overhead
expenses, you would have a total of $2700 that should be applied to your jobs. When
entering the expense transaction, you could apply part to each job, but that could be a
difficult and time-consuming task.

Telephone $675.00

Electricity $1225.00

Gas $495.00

Miscellaneous Office $305.00

Total Overhead $2700.00

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Using Jobs with General Journal Entries 8
Instead, enter one General Journal transaction to apply the expense to your jobs. To do
this without overstating your expenses, make the entry as shown below.

Account No. Description Debit Credit Job


89000 Overhead Distribution 900.00 CHAPMAN-01, ADMIN
89000 Overhead Distribution 900.00 HENSLEY-01, ADMIN
89000 Overhead Distribution 900.00 SHARP-01, ADMIN
89000 Overhead Distribution 2700.00

ACTIVITY 43 - POSTING OVERHEAD TO A JOB


All overhead costs will be applied to a phase used only for tracking overhead.
Overhead costs need to be applied to both the Langley and Marriott jobs. These costs
will be entered as a General Journal entry and can be billed to the customer. Follow
these steps to post overhead to a job:
1 Select Tasks, General Journal Entry.
2 Enter 02/29/08 for the Date. Enter a Reference of JOBOVERHEAD.
3 Enter the following transaction information:

Account No. Description Debit Credit Job

71000 Miscellaneous Charge 75.00 cws-langley-01, 998-overhead

71000 Miscellaneous Charge 50.00 cws-marriott-01, 998-overhead

71000 Miscellaneous Charge 125.00

4 Click Save, then Close.

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Using Jobs with Accounts Receivable

USING JOBS WITH ACCOUNTS RECEIVABLE


........................................
You can be confident of accuracy when using Peachtree to bill your customers for the
services you provide. There are several billing methods you can use depending on the
level of tracking you need:
• Contract Billing: When billing a customer on a contract basis, begin by entering a
sales order at the time the contract is agreed upon. A sales invoice can then be applied
to the sales order as necessary. The sales order will remain open until the full contract
amount has been billed. This reduces the possibility of underbilling the customer.
• Cost Plus Billing: Using this method, you bill the customer by writing up expenses
that have been applied to the job. This is done using the Apply Tickets/Expenses option
found in Sales/Invoicing. If this is the only method used to bill a customer, you can be
certain that the customer is billed for all expenses incurred and that nothing that was
not expensed to the job is billed.
• Cost Process Billing: You can enter invoices and apply individual line items to jobs as
necessary. This method can be used to apply both revenue and expense to a job at the
same time. If you track expenses manually, this method can simplify data entry.
Invoicing stock and assembly items applies both the revenue and cost of sales amount
to the job. If cost is being tracked for non-stock, labor, or service items, both the
revenue and cost of sales amount are applied to the job when the sales invoice is
posted.
Remember that when an item not tracked in inventory is applied to a job in invoicing or
receipts, only the revenue will be applied to the job.

Contr ac t Bil li ng
To properly track the original contract amount for a job, you should start by entering a
sales order. It should include the total contract amount along with the stages of
completion. Entering this data helps you track the terms of the contract.

E N T E R I N G A C O N T R A CT A S A S A L E S O R D E R
The following example illustrates a sales order entered for a five-thousand-dollar
contract. A Quantity of 1.00 is entered so that the percentage billed can be tracked. As
the customer is invoiced, the amount remaining on the sales order will be decreased to
indicate the percentage that has not been billed.
You can also use Proposals for this routine. Remember that the proposal must be marked
as accepted before you will be able to bill in Sales Invoicing.

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In the example, the stages of completion are also noted. The job is to be billed at a rate of
30% when the Design phase is complete and 30% when the Ground Preparation phase is
complete. The remainder is to be billed when the final phase, Planting, has been
completed.

ACTIVITY 44 - ENTERING A CONTRACT BILL AS A SALES


ORDER
A sales order will be entered for the Langley job to keep track of what has and has not
been billed. Follow these steps to enter a contract bill as a sales order:
1 Choose Tasks, Quotes/Sales Orders/Proposals, Sales Orders.
2 Select langley from the Customer ID lookup list.
3 Enter 02/04/08 for the Date.
4 Enter 02/04/08 in the Ship By field.
5 Enter CONTRACT-01 in the SO # field.
6 On the first line, enter a Quantity of 1.00.
7 Enter Initial Contract Total in the Description field.
8 In the Amount field enter 3200.00.

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9 Select cws-langley-01, 999-revenue from the Job lookup list.

10 On the second line, enter a Description of 30% due when Planning phase is
complete.
11 On the third line, enter a Description of 40% due when Proofing phase is
complete.
12 On the fourth line, enter a Description of Remaining 30% due upon completion
of job.
13 Click Save.
14 Click Close.

E N T E R I N G A C O N T R A CT A S A S A L E S I N V O I C E
When you have reached a completion stage in the job, enter a sales invoice, and apply it to
the contract sales order. The amount in the Remaining field indicates the percentage that
has not been billed. Enter the percentage to be billed in the Shipped field, and Peachtree
will calculate the amount. This makes it easier to track what has or has not been billed for
each contract.
In the following example, you can see that the first phase has already been billed. This is
indicated by the 0.70 in the Remaining field. Now that the Ground Preparation phase is
complete, another 30% will be billed. This is done by entering 0.30 in the Shipped field.

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Peachtree calculates the Amount field by multiplying the original contract amount by
0.30.

If you use this method of billing, you will need to create an appropriate contract billing
sales invoice format. For more information on modifying and creating forms, see the
Peachtree Quantum 2009 Forms and Financials Self-Study Guide.

ACTIVITY 45 - BILLING A CONTRACTED JOB


The Planning phase is complete for the Langley job, so the customer can be billed.
Follow these steps to bill a contracted job:
1 Select Tasks, Sales/Invoicing.
2 Enter langley for the Customer ID. The Apply to Sales Order# tab appears
below, indicating that the selected customer has open sales orders.
3 Enter 02/29/08 in the Date field.
4 If you do not want to print the invoice, enter an Invoice # of 22006.
5 If you want to print the invoice, leave the Invoice # blank.
6 Select CONTRACT-01 from the Apply to Sales Order# drop-down list.
7 On the first line, enter 0.30 in the Shipped field.
8 If you do not want to print the invoice, click Save. Click Yes if you receive a
warning that the customer is over the credit limit.

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9 Then, click Close.


10 If you want to print the invoice, click the Print button. Enter 22006 for the
First Invoice Number, and click Print. Then click Close.

Cost P lu s Bil li ng
To bill your customer based on all expenses incurred plus an amount or percentage, you
will use reimbursable expenses in Sales/Invoicing. To take advantage of the reimbursable
expense feature, you must designate the appropriate customer when setting up the job.
Then, as you apply expenses to a job, reimbursable expenses are created for the assigned
customer.
All expenses applied to a job on purchases, payments, general journal entries, and payroll
entries will appear on the Reimbursable Expenses tab on the Apply Tickets/Expenses
window in Sales/Invoicing.
You have various options for both writing up and consolidating expenses while
processing reimbursable expenses on a sales invoice. For example, you can consolidate all
expenses by phase and cost code and invoice the customer for each phase and cost code
rather than each individual expense. You can also choose to write up by various
percentages or amounts.
Time tickets applied to jobs will appear on the Time Tickets tab. Remember the amounts
shown on this tab are the billing amounts indicated on the tickets, not the actual expense.
Therefore, you would normally choose to not write up these transactions.
If expense tickets have been entered and applied to a job, they can be found on the
Expense Tickets tab. However, because of the possibility of double billing, we
recommend using purchase or payment transactions to apply expenses instead.

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APPLYING REIMBURSABLE EXPENSES
To access reimbursable expenses, select Sales/Invoicing from the Tasks menu. Enter the
customer, click the Apply Tickets/Expenses arrow button, and select the Reimbursable
Expenses tab. The Reimbursable Expenses tab is described below:

• Sort List By: Select the sort order for the reimbursable expenses listed. You can sort by
either Job or Date, which can be useful when consolidating expenses.
• Consolidate By: Select the transaction consolidation method to be used from this list.
Consolidating expenses will create a blank Description field on the invoice. If No
Consolidation is chosen, the Description field on the invoice will match the Description
field shown on this window.
• Invoice Amt: Displays the amount to be used on the invoice. Enter a new amount if
necessary.

APPLYING TIME TICKETS


Applying time tickets to invoices is very similar to applying reimbursable expenses. The
most important difference is that the Invoice Amount is not the expense but the billing
amount entered on the ticket. Thus, the write up feature is not normally used. Another
difference is that time tickets applied to the customer as well as the job are available for
billing. There are also additional sorting and consolidation options.

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ACTIVITY 46 - BILLING A COST PLUS JOB


Abracadabra Web Services needs to bill Marriott for expenses incurred to date. First,
reimbursable expenses will be applied; then time tickets will be applied. Follow these
steps to bill a cost plus job:
1 Select Tasks, Sales/Invoicing.
2 Select marriottw from the Customer ID lookup list.
3 Enter a Date of 02/29/08.
4 If you do not want to print the invoice, enter an Invoice # of 22010.
5 If you want to print the invoice, leave the Invoice # blank.
6 Click the Apply Tickets/Expenses arrow button located in the lower-left corner
of the Sales/Invoicing window.
7 Select the Reimbursable Expenses tab.

8 Select Job from the Consolidate By drop-down list.


9 Select the Use check box for each expense listed.
10 The charges will need to be marked up in price. Click the WriteUp button on
the toolbar.

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11 Select Write lines up/down by percent and enter 50.0.

12 Click OK to return to the Apply Tickets/Expenses window. Notice that the


amount for each expense has increased.
13 Click OK to post the expenses to the invoice.
14 Because we chose to consolidate, there is no description for the line item. Enter
a Description of Planning.
15 To bill the customer for time spent working on their Web site, click the Apply
Tickets/Expenses arrow button.
16 On the Time Tickets tab, ensure that No Consolidation is selected in the
Consolidate By drop-down list.
17 Since all time tickets will be used, click the left-most Use button on the toolbar.
18 Select All, and click OK.
19 Click OK to apply the tickets to the invoice. The tickets appear on lines two and
three of the invoice.
20 Enter a Description of Design on the second line of the invoice and a
Description of Proofing on the third line of the invoice.
21 If you do not want to print the invoice, click Save, then Close.
22 If you want to print the invoice, click the Print button. Enter 22010 for the
First Invoice Number, and click Print. Click Close.

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Cost Process Billing


This method of billing allows you to post both the revenue and expense to the job at the
same time. If you track your job-specific expenses manually and prefer to enter them after
the fact, this is the most efficient method to use.
Remember that when a non-inventory line item in invoicing or receipts is distributed to a
job, only the revenue will be applied to the job. Also, you must track cost of sales for non-
stock, labor, or service items for the expense to be applied to the job.
When a sale is posted, the sales price and the cost of each job-related line item is assigned
to the job. If any expenses have been previously applied to the job, you can still use the
Apply Reimbursable Expenses feature to write up the revenue amounts and include
them on the same invoice.
• Enter the sale or invoice.
• In the Job field of the distribution section, use the lookup list to select the job, phase,
and/or cost code for each line item to be applied to a job.

ACTIVITY 47 - APPLYING SALES TO A JOB


Kelly Bishop’s Web site has been completed. She will be billed, and the amounts will
be billed on the sales invoice. Follow these steps to apply a sales invoice to a job:
1 Select Tasks, Sales/Invoicing.
2 Select bishopk from the Customer ID lookup list.
3 Enter a Date of 02/29/08.
4 If you do not want to print the invoice, enter an Invoice # of 22011.
5 If you want to print the invoice, leave the Invoice # blank.
6 On the first line, enter a Quantity of 4.00.
7 Choose htmlprogp from the Item lookup list.
8 In the Job field, select pws-bishop-01.
9 On the second line, enter a Quantity of 1.00.
10 Select Item bintro1.
11 In the Job field, select pws-bishop-01.
12 If you do not want to print the invoice, click Save, then Close.
13 If you want to print the invoice, click the Print button. Enter 22011 for the First
Invoice Number, and click Print. Click Close.

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Job Cost Reports 8
JOB COST REPORTS
........................................
Job Cost reports provide information related to amounts distributed
to jobs on transactions. To preview or print these reports, select
Jobs from the Reports & Forms menu.

Report Descr iptions


• Cost Code List: Lists descriptions and cost types of cost codes. It is used to ensure that
cost codes were set up correctly.
• Estimated Job Expenses: This report can be printed during the progress of a job to
compare estimates with actual costs and expenses. To compare estimated with actual
amounts at the end of a job, simply filter out active jobs.
• Estimated Job Revenue: Provides detailed information comparing revenue estimates
to the actual revenues entered. You can run this report any time during a job to view
estimated versus actual revenue and the difference.
• Job Costs by Type: Shows costs and number of units broken down by cost type for
jobs. Use this report as a record of time spent for a given period.
• Job Estimates: Shows job estimates created by using the Maintain Jobs window. You
can print this report prior to creating quotes for your customers.
• Job Ledger: Shows all transactions assigned to a job. It provides detail for expense
and revenue transactions that affect a job for the selected date range. This report is
useful for resolving questions regarding individual job activity.
• Job List: Lists job descriptions, dates the jobs began, and customer names. Useful in
identifying that all necessary jobs have been set up.

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Job Cost Reports

• Job Master File List: Displays multiple lines of information about each job. This
report is useful in ensuring that jobs were set up correctly. This information is also
useful if you wish to export Peachtree data for use in other applications.
• Job Profitability Report: Displays actual expenses versus revenue for a given job and
calculates the profit or loss per job for a selected date range. This report is useful for
identifying jobs with a high profit margin.

5/10/01 at 14:04:31.94 Page: 1


Bellwether Garden Supply
Job Profitability Report
For the Period From Mar 1, 2003 to Mar 31, 2003
Filter Criteria includes: 1) IDs from CHAPMAN-01 to CHAPMAN-01. Report order is by ID.

Job ID Phase ID Cost Code ID GL Acct ID Actual Exp. Exp. Totals Rev. Totals Profit $ Profit

CHAPMAN-01 01-Design 175.50

175.50

02-Permits 69000 75.00

75.00

04-Ground Prep 010-Labor 150.00


57300-LS 215.70
020-Material 345.00

710.70

08-Accessories 020-Material 12000 95.70


57200 159.95

255.65

CHAPMAN-01 Total 1,216.85 -1,216.85

Report Total 1,216.85 -1,216.85

• Job Register: Shows transaction amounts per job and the account ID for the selected
date range. It provides a simplified list of the job activity, which is useful for tracking
transactions assigned to jobs.
• Phase List: Displays phase descriptions, cost types, and use of cost codes. This report
can be used to ensure that phases were set up correctly.
• Unbilled Job Expense: Lists transactions that have not been billed to the customer.
This report is useful for identifying reimbursable expenses that need to be billed.

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T
his chapter includes topics that are not easily categorized within any
one specific area in Peachtree. Some topics are necessary to use
Peachtree properly, while others can greatly improve your efficiency
when performing daily tasks. Topics include:

• Global Options
• Posting Methods
• Accounting Periods
• Task Window Templates
• Memorized Transactions
• Account Register

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Global Options

GLOBAL OPTIONS
........................................
On the Maintain Global Options window, you can access
options that allow you to customize the way Peachtree works.
This window has an Accounting tab that lists options related to
accounting tasks, a General tab that provides additional
processing options, a Peachtree Partners tab that controls
access to Partner applications, and a Spelling tab that allows
you to set options for spell checking within the program. These preferences can be
changed at any time and affect all companies in Peachtree. To change or view these
options, select Options, Global from the Menubar.

Maintain Gl obal Opti ons Window


The Maintain Global Options window is used to select preferences that control the way
Peachtree works. Each tab is described below:

A C C O U N T I NG T A B
Select the Accounting tab to change preferences relating to transaction entry in
Peachtree. Fields of interest are described below:

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DECIMAL ENTRY
This option is used to determine the way decimal points are used when entering numeric
values. You have the choice of allowing Peachtree to place a decimal point in amounts or
to enter the decimal point yourself.
• Automatic: Select this option if you want Peachtree to insert the decimal point when
an amount is entered. The decimal will be inserted based on the Number of Decimal
Places selected. For example, if the Number of Decimal Places is set to 2, an entry of
100 would become 1.00 once you move to the next field.
• Manual: Select this option if you want to type the decimal point when it is needed. For
example, if you type 100 and press ENTER, Peachtree will display 100.00 in the field.
• Number of decimal places: Select the number of decimal places that should be used
for amounts in all transaction windows. The default value is 2. For example, if this
field is set to 3 decimal places and you enter 134.2, the number displays as 134.200 in
the field.
You can also increase or decrease the number of decimal places printed on forms for each
field. However, the number of decimal places that print on forms, such as sales invoices,
must be changed by customizing the form.

HIDE GENERAL LEDGER ACCOUNTS


Each transaction window has fields that show the General Ledger accounts used by
transactions. To make data entry easier and faster, you can choose not to display these
fields using the Hide General Ledger Accounts option. If the area listed is selected, the
account fields on the related transaction windows will be hidden. The accounts used are
based on the default setup for each area, but you can change the account numbers using
the Journal button to view the Accounting Behind the Screens.

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Global Options

GENERAL TAB
Select the General tab to change all other preferences in Peachtree. Fields of interest are
described below:

IMPROVE PERFORMANCE
These options can increase the speed of report printing and the lookup of inventory items.

LINE ITEM ENTRY DISPLAY


This option determines how the grid lines appear. Two line includes descriptions for some
of the fields in the first line.

SMART DATA ENTRY


These options can make data entry easier and faster by helping locate the proper ID in the
lookup list as you enter the ID.
• Automatic field completion: Select this check box so that the ID entered is completed
with the nearest match to the characters entered. For example, if you enter SMI in the

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Customer ID field and an ID of SMITH is set up, then SMITH will fill the field
automatically.

• Drop-down list displays automatically: When at least one character is entered in an


ID field, the lookup list opens. You can also press the right arrow key to display a
lookup list when this option is selected.

COLOR SCHEME
There are a variety of color combinations that can be used throughout the program.
If you select a new color scheme, you must exit Peachtree before the new color scheme
will be used.
• Reset all one-time messages: Some messages include an option that prevents the
message from displaying again. Select this button to reset these messages.

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Global Options

P E A C H T R E E P A R T NE R S T A B
On the Peachtree Partners tab, you specify the security option for partner applications,
such as Timeslips and FAS for Peachtree by Sage. You have three options: low, medium,
and high. Peachtree recommends that you select Medium.

S P EL L I N G T A B
On the Spelling Tab, you can set options for how Peachtree performs a spell check of
certain data fields. Fields of interest are described below.

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• Check spelling as you type: Select this option to have Spell Check highlight
misspelled words in red as you type. When a word is highlighted in red, you can right-
click your mouse to bring up a list of suggestions for the misspelled word.
• Check spelling on save or close: Select this option to have Spell Check automatically
review your text when you select Save, Close, or Print from windows where Spell
Check is available.

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Posting Methods

POSTING METHODS
........................................
You can use either real-time, smart posting, or batch posting in
Peachtree. The posting method can be changed at any time by
selecting Maintain, Company Information.
This will open the Maintain Company Information window.

On the Maintain Company Information window, click the Posting Method arrow
button to select a posting method. This will open the Posting Method window.

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Posting Methods 9
Real-Time Post ing
With real-time posting, transactions are posted to the journals and the General Ledger as
they are entered.

Batch Posting
With batch posting, transactions are saved by the program and then posted to the General
Ledger in a group. When you use batch posting, you can print registers and review a batch
of transactions before posting them to the General Ledger.
If you use the batch posting method, select Tasks, System, Post to post transactions to the
General Ledger. When you choose to post all journals, the program finds all unposted
transactions in each of the journals and posts them to the General Ledger.
Transactions can be edited and deleted even after they are posted.

Smart Posting
Smart Posting is a combination of Real-Time posting and Batch posting. You enter and
save transactions locally, while your server computer (in a network environment) posts
the transactions periodically behind the scenes. The value of this feature is that it allows
you to enter and save transactions more quickly, since they do not have to be posted
immediately.

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Accounting Periods

ACCOUNTING PERIODS
........................................
When all transactions have been entered for the
current accounting period, you can advance to the
next accounting period. The Change Accounting
Period window is used to change to any accounting
period within the two open fiscal years. To display
this window, select Tasks, System, Change
Accounting Period.

Your fiscal year is divided into accounting periods based on decisions you made while
using the New Company Setup Wizard. The current accounting period appears on the
Business Dashboard.

To the left of the current accounting period is the system date. The current accounting
period, in conjunction with the system date, is used by transactions, reports, and Account
Reconciliation in the following ways:
• If the system date is within the current accounting period, a transaction will
automatically use the system date.

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• If the system date is not within the current accounting period, a transaction will use the
first day of the current accounting period by default.
• When you double-click to open any report, the date or dates used are based on the
current accounting period.
• When you use the Account Reconciliation window, uncleared transactions through the
end of the current accounting period are listed.
As an example, consider a company with a fiscal year that starts in January and ends in
December. The current accounting period is Period 4-4/1/08 to 4/30/08, and the current
system date is 4/15/08. The following events will occur:
• When a transaction is entered, the date will be 4/15/08 because the system date is
within the current accounting period date range.
• When the General Ledger is previewed, it will be the date range from 4/1/08 to
4/30/08.
• When the Account Reconciliation window opens, only uncleared transactions through
4/30/08 are listed.
Once all transactions for April are entered, the Change Accounting Period window can
be used to advance to May. Then, the current accounting period will read Period 5-5/1/08
to 5/31/08.

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Accounting Periods

Change Accounting Period Window

The Change Accounting Period window is used to change the current accounting period
to any period within the two open fiscal years. Typically, this window is used to advance
to the next accounting period after all transactions have been entered for the current
accounting period. You can access this window by double-clicking the Current
Accounting Period button on the Status Bar or by selecting Tasks, System, Change
Accounting Period. To change accounting periods, select a period from the list, and click
OK.
If invoices or checks are waiting to be printed, a message appears, asking if you would
like to print invoices or checks before continuing.
If any journals or the General Ledger have not been printed for the current accounting
period, a message appears, asking if you would like to print reports before continuing.
You may receive a message asking if you would like to run an Internal Accounting
Review. This will search your company data for common transaction mistakes and
transactions or conditions that do not adhere to Generally Accepted Accounting
Principles.
Once complete, the accounting period shown on the Status Bar will be changed to the
period you selected.

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Task Window Layouts 9
TASK WINDOW LAYOUTS
........................................
You can define different formats, known as layouts or templates, for entering and
reviewing sales and purchase transactions in task windows. You can use the templates that
come with Peachtree or design your own by hiding one or more unnecessary data-entry
fields. By hiding these fields, you can make data entry tasks faster and easier. Rather than
needing to tab through unused fields, you can move directly from one field to the next.
When templates can be used on a task window, a Layout button appears on the toolbar.
You can customize layouts for the following task windows:
• Quotes
• Sales Orders
• Proposals
• Sales/Invoicing
• Purchase Orders
• Purchases/Receive Inventory
Click the Layout button to list the templates available and to access the Customize
Layout option.

Predefined Layouts
Layouts included with Peachtree are labeled <Predefined> in the Layout drop-down list.
Peachtree provides a predefined layout for the Purchase Orders and Purchases/Receive
Inventory task windows. This Standard layout includes all purchase data entry fields.
Peachtree provides two predefined layouts for entering quotes and sales invoices:
• The <Predefined> Product layout is the default sales layout and displays all invoice
data entry fields. This layout is typically used by companies that sell inventory items.
• The <Predefined> Service layout hides inventory-related fields, such as Quantity,
Item ID, and Unit Price. This layout is typically used by companies that sell services
and do not sell inventory items.

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Task Window Layouts

The Sales Order window offers only the <Predefined> Product layout. The Proposals
window offers a <Predefined> Standard layout that includes all proposal data entry
fields.

Cust omi ze d T e mpl at es


You can customize layouts if you do not find a well-suited predefined layout.
Customizing a layout allows fields to be hidden on a task window. If there is information
in a hidden field, the information is not removed; it is simply hidden from view. The
layout used can be changed at any time. Layouts can be customized for each task window
and for each user in a network environment.

Maintain Layout s Wi ndow


When you select the Customize Layout option on the Layout drop-down list, the
Maintain -- Templates window opens. This window is used to create task window
layouts.

HEADER FIELDS
• Template Name: Enter a name for your new template/layout.
• Description: Enter a description of your new layout.

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INDIVIDUAL FIELDS AND COLUMNS
Use the check boxes to select which fields will appear on the entry screen and associated
printed form

SELECTING A LAYOUT
Use these steps to display the desired layout in a task window:
• From the appropriate task window, click the Layout button.
• Peachtree displays a check next to the layout currently in use. From the drop-down list,
select the name of the layout you want to use.

ACTIVITY 48 - SETTING UP A SALES INVOICE LAYOUT


Currently, Abracadabra does not use sales reps. Also, the sales tax is never changed
on a sales invoice. Therefore, there is no need to show those fields on the
Sales/Invoicing window. Use the following steps to design a new layout:
1 Select Tasks, Sales/Invoicing.
2 Click the Layout button on the toolbar, and choose Customize Invoice Layout
from the drop-down list.
3 Click the New button.
4 Enter a Template Name of Product.
5 Enter a Description of Product Sales Invoice.
6 Scroll down in the Individual Fields list to Sales Rep.
7 Remove the check in the Entry Screen and Printed Form columns.
8 Remove the check in the Entry Screen column for Sales Tax Code.
9 Click Save, and then OK at the message.
10 Click Close.
11 Click Close on the Sales/Invoicing window.
12 To test the template, select Tasks, Sales/Invoicing.
13 The window should not display the Sales Rep and Sales Tax Code fields. Click
Close.

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Memorized Transactions

MEMORIZED TRANSACTIONS
........................................
Using the memorized transactions feature, you can
enter common transactions for later use. You can
also save an existing transaction as a memorized
transaction.
Each memorized transaction contains information
that is used to create a new transaction. Using
memorized transactions can save time in repetitive
data entry tasks. You can memorize quotes, sales
invoices, purchase orders, payments, and general
journal entries.
For example, you may place an office supply order
as needed throughout the month. You can memorize
the common office supplies ordered using a memorized purchase order. When you need to
place an order, you can use the memorized purchase order, remove any items that do not
need to be ordered, add any additional items that need to be ordered, and enter the
quantities to order.

Creating Memor ized Transactions


There are two ways to create memorized transactions. The first is to enter the memorized
transaction manually. The second is to save a posted transaction as a memorized
transaction.

E N T E R I N G M E M O R I Z E D T R AN S A C T I O N S
You can enter a memorized transaction for later use by selecting an option from the
Maintain, Memorized Transactions submenu. Use these steps to enter a new
memorized transaction:
• From the Maintain menu, select Memorized Transactions; then select the type of
transaction desired.
• Enter a Transaction ID and Description that identifies the transaction.
• Enter the transaction information in the fields. All fields are optional and can be
changed at any time.
• When finished, select Save to record the memorized transaction for later use.

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Memorized Transactions 9
SAVING MEMORIZED TRANSACTIONS
You can save a posted transaction as a memorized transaction by clicking the drop-down
arrow next to the Save button on the transaction toolbar, then selecting Memorize. Use
these steps to save a posted transaction as a memorized transaction:
• From the transaction window, select List to display a list of transactions.
• On the list window, double-click the transaction you want to memorize. The
transaction displays in the transaction window.
• Click the drop-down arrow to the right of the Save button and select Memorize. The
transaction is copied into the Maintain Memorized Transaction window.
• Enter a Transaction ID and Description that identifies the transaction.
• Edit the transaction information in the fields. All fields are optional and can be changed
at any time.
• When finished, select Save to record the memorized transaction for later use.

Creating New Transactions


You can create new transactions from memorized transactions in two ways. The first is to
use the transaction from the Maintain Memorized Transactions window. The second is
to select from a list of memorized transactions while using a task window.

USING MEMORIZED TRANSACTIONS


Memorized transactions can be used at any time to create new transactions. Follow these
steps to use a memorized transaction:
• From the Maintain menu, select Memorized Transactions; then select the type of
transaction desired.
• Enter or select the Transaction ID you want to use.
• Select the Select button.
• Peachtree displays the transaction in the corresponding task window. Make any
changes needed to the transaction, and post it. Changes made to the transaction will not
affect the memorized transaction.

SELECTING MEMORIZED TRANSACTIONS


You can select from a list of memorized transactions while using a task window. Follow
these steps to select a memorized transaction:

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Memorized Transactions

• From the appropriate Task window, click the drop-down arrow to the right of
the List button.
• Then click Select.
• Double-click the memorized transaction you want to use.

• Peachtree displays the transaction in its corresponding task window. Make any changes
needed to the transaction, and post it. Changes made to the transaction will not affect
the memorized transaction.

ACTIVITY 49 - ENTERING A MEMORIZED TRANSACTION


Office supplies are ordered as needed. A memorized purchase order will be entered
that includes common items. Follow these steps to enter a memorized transaction:
1 Select Maintain, Memorized Transactions, Purchase Orders.
2 Enter a Transaction ID of Office and a Description of Office Supply Order.
3 Select the magnifying glass to display the Vendor ID lookup list, and select the
New button on the toolbar at the bottom of the list.
4 Enter the following information on the Maintain Vendors window:

Vendor ID 01office

Name Office Warehouse

112 10th St.


Address
Atlanta, GA 30293

Expense Acct 71000

Telephone 1 404-555-7986

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5 Click Save to record the information; then click Close.
6 Enter 01office for the Vendor ID.
7 Enter the following information. The Quantity, Item, Amount, and Job fields
will remain blank:

Description GL Account Unit Price

Black ball point pens (box of 12) 71000 9.85

Printer ink cartridge model number H2939 71000 23.45

Legal Pads (10 pack) 71000 7.30

Colored Dry Erase Markers 71000 12.10

8 Click Save, then Close.

ACTIVITY 50 - USING A MEMORIZED TRANSACTION


The memorized purchase order for office supplies will be used to place an order.
Follow these steps to use a memorized transaction:
1 Select Tasks, Purchase Orders.
2 Click the drop-down arrow to the right of the List button. Click Select.
3 Highlight the Office transaction, and click OK.
4 Enter a Date of 02/29/08.
5 The order was phoned in to Office Warehouse. Enter a PO # of 1003.
6 Enter the following quantities:

Quantity Description

2.00 Black ball point pens (box of 12)

1.00 Printer ink cartridge model number H2939

Legal Pads (10 pack)

1.00 Colored Dry Erase Markers

7 Highlight the Legal Pads line, and select Row, Remove from the toolbar.
8 Click Save, then Close.

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Find Transactions

FIND TRANSACTIONS
........................................
You can use the Find Transactions window to search for
transactions in Peachtree. To display the Find Transactions
window, select Edit, Find Transactions from the Menubar.

Find Transactions Window


This window offers filtering options that can be used to search for transactions in
Peachtree. This feature can be useful when you need to find transactions associated with a
specific ID or when you have trouble locating a transaction.

FIND BUTTON
Select the Find Button to search for transactions based on the filter criteria. The
transactions found will be listed at the bottom of the window. By default, transactions are
listed by date. To sort by a different field, click the heading for the field. To view a
transaction, highlight the transaction in the list, and click the Detail button or simply
double-click the transaction.

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Account Register 9
ACCOUNT REGISTER
........................................
Using the Account Register option, you can enter payments or
receipts to cash accounts, view transactions posted to a
particular cash account, and select options to reconcile the
account and print the report register. To open the Account
Register window, select Tasks, then Account Register.

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Account Register

Account Register Window


On the Account Register window you can view payments and receipts for a particular
cash account, enter new payments or receipts, and select options to print the Account
Register report and reconcile the account. Fields of interest are described below.

• Show Transactions for: Select the time period for which you want to see transactions.
• Payee/Paid by: Shows the vendor or customer associated with the existing transaction.
Select the appropriate customer or vendor for a new transaction.
• Payment: Shows the amount for a payment. Enter an amount if the new transaction is
a Payment.
• Receipt: Shows the amount for a receipt. Enter an amount if the new transaction is a
receipt.

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I NTRODUCTION TO FAS FOR P EACHTREE BY
S AGE
...................................
10
F AS for Peachtree by Sage organizes fixed asset data in an easy-to-
view format, performs complex depreciation calculations quickly
and easily, and offers more than twenty predefined reports for
financial and tax reporting of up to 200 assets. There are many flexible options
you will want to use to have the program work to your specifications.
FAS for Peachtree stores your asset data in a database. You can use the one
default database or create numerous databases in which to store your data.
You can store one or more companies in a single database, or you can create
multiple databases for storing multiple companies.
You may want to categorize your assets for reporting or sorting purposes.
Perhaps you need to dispose of a number of assets. You can include them in a
group and dispose of the entire group at one time. Another example might be
to create a group of assets that share the same acquisition date. FAS for
Peachtree’s Group Manager option allows you to do this and more. Using the
Group Manager you can specify any of several criteria by which you want to
include assets in a group. The program is very flexible, and you can change
group specifications at any time.
Asset management requires you to maintain a great deal of detail for each
asset. To identify an asset, you would need to know what it is, the depreciation
classification, where it is located, and perhaps a serial number. You will find
fields for each of these details and many more. In addition, FAS for Peachtree
allows you to customize almost every one of them.
You also have the option of using the SmartLists you create to set up valid
entries for the fields. For example, one of the available fields is the G/L Asset
Account number. You could set up valid entries containing only the
appropriate accounts so that fewer input errors are recorded.

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Starting FAS for Peachtree by Sage

STARTING FAS FOR PEACHTREE BY SAGE


........................................
Once FAS for Peachtree by Sage is installed, you can start the program in one of three
ways:
• Double-click the icon on the desktop.
• Use the Start menu.

Using the FAS for Peacht ree Icon


When FAS for Peachtree is installed, an icon will be placed on your
desktop. To start the program, double-click the icon.

Using the St art Menu


During installation, a program group is created so you can start the program using the
Start menu. Follow these steps to start FAS for Peachtree using the Start menu:
• Click Start and Programs. Then select FAS Solutions, FAS for Peachtree by Sage,
and FAS for Peachtree by Sage.
The first time you open FAS for Peachtree by Sage, the program will open the sample
company Westfield’s Bakery-Demo automatically. Because this company has not been set
up with an interface to Peachtree, you will receive a message suggesting that you create a
valid map in the Edit Company window. You may disregard this message because this
company is not available in Peachtree.

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New Company Setup 10
NEW COMPANY SETUP
........................................
New company setup is an easy way to enter basic information about your company into
FAS for Peachtree. There are two methods that can be used to create a new company. Both
methods are accessed using the same menu option. If, in the Preferences, you have
chosen to use wizard for setting up a new company, the wizard will open. Otherwise, the
Edit Company window opens, allowing you to enter the necessary data.
When setting up a new company, you enter basic information such as your company name
and address, select the database in which your company data will reside, and specify
fiscal year information. You also indicate which books you want to use, and define short
tax years.
To begin setting up your company select File, New Company
from the Menubar. If another company is open, you will receive a
message stating, “The current company must be closed to create a
new company. Do you want to continue?” Click Yes to continue.

If you chose to use the wizard, the following screen appears. Follow the steps by entering
the required data and clicking Next.

Entering Company Information


The New Company Wizard guides you through selecting the database in which the
company data will reside and entering the company name and starting system number.

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New Company Setup

You will also specify the company’s fiscal year-end and the date the company opened for
business.
Once completed, the Edit Company window opens, allowing you to make any necessary
changes. Fields of interest are described below:

HEADER FIELDS
• Starting system number: Enter the number to be assigned to the first asset you will
enter. This is only available when setting up a new company.
The date entered in this field cannot be later than the placed-in-service date of the
company’s oldest asset.
• Map to Peachtree: Displays a window that allows you to map the currently open FAS
for Peachtree company to a Peachtree company.

B O O K DE F A U L T S T A B
You can track up to seven depreciation books for each company in FAS for Peachtree.
Each book is listed at the top of the columns found here. Enter the data in each row for the
corresponding book. The data entered here affects the Book-related fields you access
when adding a new asset.
• Open Book?: Indicate whether or not you want to use a book. This can be changed at
any time.
• Book Title: Specify the name for books 6 and 7.
• Default Method: Select a default depreciation method for the Internal book, book 6 or
book 7. This field is disabled if you specify anything other than None in the Emulate
Book field.

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• Allow Prior Depr?: Use this field to indicate whether you want the system to allow
you to enter beginning depreciation amounts for assets.
After you have entered all assets previously maintained in another fixed asset system, you
may want to disallow entry of beginning amounts to protect the data.

SHORT YEARS TAB


You need to use the Short Years tab only if you are entering a company's past history or if
you are editing a company setup and want to enter the dates of current or future short
fiscal years. FAS for Peachtree automatically sets up an initial short year after you
complete the Book Defaults tab, indicating that the first year of business is less than 12
months.
You can enter up to five different short years for each book. If the first year of business
was a short year, the system displays its fiscal year-end date in the window. Enter dates in
either the MMYY or MMYYYY format.
• Year 1: If your first year has less than 12 months duration, the system completes this
field automatically based on the entries you made in the Company Information fields.
If the first year of business is not a short year, this field is available for use in the future.
• Years 2-5: Use the fields in each row to enter the month and year of the new fiscal
year-end for each book listed.

BOOK OVERRIDES TAB


This tab displays some of the default settings used to calculate depreciation. You can
override any of the defaults on this page by selecting another valid option. FAS for
Peachtree uses the half-year convention unless you specify the midquarter convention.
The depreciation adjustment amount is the difference between what you enter as
beginning depreciation and the amount the system calculates for the same time frame.
If you take full Investment Tax Credit (ITC) for an asset, the program reduces the asset's
basis in all books except the Internal book.
• Midquarter: Controls which averaging convention the system uses for the tax-related
books.
• Adjustments: Specify how you want the system to handle assets that were
underdepreciated before they were added to FAS for Peachtree. The options include:
- None: No adjustment is made.
- Immediate: An adjustment is made as soon as you calculate depreciation.
- Postrecovery: The adjustment is made in the first period of the next fiscal year after
the end of the asset's life.

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New Company Setup

• Reduce by ITC: Indicate whether or not you want to reduce the basis of assets
qualifying for the Investment Tax Credit.

ACTIVITY 51 - SETTING UP A COMPANY


Assets need to be entered for Abracadabra Web Services. Before assets can be
entered, the company must be set up in FAS for Peachtree. In this activity the New
Company Wizard will not be used. Use the following steps to disable the wizard
and set up the company.
1 Start FAS for Peachtree.
2 Select File, Enable Wizards. If there is a checkmark next to New Company
Wizard, click to remove it, disabling the wizard. If there is no checkmark, click
outside the menu box to close menu.
3 Select File, New Company.
4 Choose Yes if you receive a message about closing the current company.
5 Enter Abracadabra Web Services in the Company Name field.
6 Leave Starting system number set to 000001.
7 Change the Business Start Date to 01/1998.
8 Select Yes for Round reports to whole dollars?.
9 Leave the Tax, Internal, and State books set at the defaults.
10 Select No for the Open Book? fields for the AMT, ACE, and Book 7 books.
11 For Book 6 change the Book Title to Local.
12 Also for Book 6 change the Emulate Book field to Tax.
13 Select Start from the Taskbar in the lower left-hand corner of the screen, then
Programs, Peachtree Quantum, then Peachtree Quantum.
14 Open Abracadabra Web Services; then minimize Peachtree so you can work in
FAS for Peachtree again.
Your company must be open in Peachtree for you to map your FAS data to Peachtree.
15 Click the Map to Peachtree button.
16 Choose Abracadabra Web Services, and click OK.
17 Click OK to create the new company. Click Yes.

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New Company Setup 10
18 The desktop should appear with the Group View open as shown below:

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New Company Setup

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M AINTAINING A SSETS
................................... 11
E
ach company in FAS for Peachtree can track up to 200 assets. If
you need to track more than 200 assets, you can set up multiple
companies.
There are two methods you can use to add assets to your company. Use the
standard method if you are familiar with the details needed to record and track
assets and depreciation. This method allows you to enter the details directly to
the fields in the Detail View.
If you would like assistance with setting up assets, use the New Asset Wizard
to get the help you need. Use the File menu to activate the New Asset Wizard.
When the New Asset Wizard is used, FAS for Peachtree prompts you to enter
the necessary details for each field before selecting Next to move to the next
sequence of field data. There are five windows in which you will be asked to
enter details for the asset.
The first gives you an opportunity to use a previously entered template to
create the new asset. Next, enter the general descriptive information, then the
acquisition and depreciation information. The final window gives you the
status, warning you if any entry was entered incorrectly.

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Maintaining Assets

MAINTAINING ASSETS
........................................
To add a new asset, select Asset, New from the Menubar; use
CTRL+N; or click the New Asset button on the toolbar. If the New
Asset Wizard is activated, the Detail View window opens along
with the wizard. Otherwise, the Detail View window opens and
allows you to begin entering the asset details to the appropriate
fields.

The Detail View is shown below, followed by a description of fields of interest.

M A IN T A B
The data entered on the Main tab is used to track general information concerning each
asset, such as location, vendor, and associated General Ledger accounts. There are also
fields pertaining to each book being tracked in the program. If you track more than three
books, use the scroll bar along the bottom of the book related fields to access more book
fields.

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GENERAL INFORMATION FIELDS
The General Information fields can be customized to suit your business needs. You can
hide fields you do not need, change the title, length, and entry order, and create a
SmartList if necessary. To customize any of these fields, select Fields from the
Customize menu.
• Description: Use up to 80 alphanumeric characters to describe your asset.
While you are allowed up to 80 characters, there are many reports that truncate the
description to the first 10 characters. Therefore, the first 10 characters should give you
enough information to identify the asset.
• Class: Use this field to categorize your assets. For example, CE for computer
equipment, FF for furniture and fixtures.

BOOK RELATED FIELDS


• Acq Value: Indicate the amount of money it took to acquire the asset, including any
freight and installation charges.
• Depr Meth: Select the appropriate depreciation method. Only valid methods are listed
as determined by the date placed in service and property type.
• Est Life: Enter the estimated life of the asset in MM/YY format.
• ADS Life: Enter the life in the tax books for any asset using MACRS Alternative
Depreciation System.
• Bus Use %: Indicate the amount of time the asset is used for business purposes as a
percentage.
• Salvage: Enter the amount estimated to be the selling value of the asset at the end of its
life.
• ITC Amt: Indicate the amount of Investment Tax Credit. Note that this credit usually
does not apply to assets acquired before 1985.
• Beg Date: Enter the date through which depreciation was calculated prior to using FAS
for Peachtree.
• Beg YTD: Enter the current year-to-date depreciation.
• Beg Accm: Enter the total depreciation from the placed-in-service date.

ACTIVITY 52 - ADDING ASSETS


Several existing assets need to be added to the database. These assets have been
depreciated using another system, so the historical balances will need to be entered.
The New Asset Wizard will be used to enter these assets.

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Maintaining Assets

1 Select File, Enable Wizards. If there is no checkmark next to New Asset


Wizard, click to enable it. If there is a checkmark, click outside the menu box
to close the menu.
2 Choose Asset, New. This opens the Detail View and overlays it with the New
Asset Wizard.
3 Click Next.
4 You will not be using a template, so leave it set to None, and click Next.
5 On the General Information window, enter the following data, and click Next:

Description Desks (4)

Co Asset No 001

Class FF

Location Office

Custodian Bentley

6 On the G/L Information window, enter the following data, and click Next:

G/L Asset Acct No 15000

G/L Expense Acct No 64000

G/L Accum Acct No 17000

7 On the Acquisition Information window the last four fields will not be used
for this asset. Enter the following data in the first three fields, and click Next:

Acquisition Value 2147.86

Acquisition Date 01/02/2007

Placed In Service Date 01/02/2007

8 On the Depreciation Information window, leave the default settings as they


.. are, and click Next.
9 On the Status window you should have no warnings. If there are no warnings,
click Finish. If there are warnings, a field was skipped or data was entered
incorrectly. Use the Back button to go back to the appropriate window to make
any necessary corrections.

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10 The Detail View of the asset should appear as shown below:

11 Now, the accumulated depreciation amount that was recorded prior to using
FAS for Peachtree needs to be recorded. Enter the following data for each book
in the designated field as shown in the following table. Depreciation was not
calculated using mid-quarter convention, so when prompted, click No.

Tax Internal State Local

Beg Date 01/2007 01/2007 01/2007 01/2007

Beg YTD 43.83 17.90 43.83 17.90

Beg Accm 350.67 125.29 350.67 125.29

12 Click the Save icon to save the record.


13 Using these steps as a guide, add the following assets. Remember to click Save,
then New after each asset.

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Maintaining Assets

Asset 1 Asset 2 Asset 3

Description Computer Computer Color Printer

Co Asset No 002 003 004

Class CE CE CE

Location Office Office Office

Custodian Bentley Davis Bentley

G/L Asset Acct 15100 15100 15100


No

G/L Expense 64000 64000 64000


Acct No

G/L Accum 17100 17100 17100


Acct No

Acquisition 4022.70 3068.70 847.92


Value

Acquisition 01/02/07 01/02/07 01/02/07


Date

Placed In 01/02/07 01/02/07 01/02/07


Service Date

Tax Beg Date 01/07 01/07 01/07

Tax Beg YTD 107.27 81.83 22.61

Tax Beg Accm 911.81 695.57 192.19

Internal Beg 01/07 01/07 01/07


Date

Internal Beg 67.05 51.15 14.13


YTD

Internal Beg 469.32 358.02 98.92


Accm

State Beg Date 01/07 01/07 01/07

State Beg YTD 107.27 81.83 22.61

State Beg Accm 911.81 695.57 192.19

Local Beg Date 01/07 01/07 01/07

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Asset 1 Asset 2 Asset 3

Local Beg YTD 67.05 51.15 14.13

Local Beg 469.32 358.02 98.92


Accm

DISPOSAL TAB
When you sell, retire, exchange, or abandon an asset, it must be disposed of. On this tab,
each book is displayed along with fields pertinent to disposals. If the asset has been
disposed of, the previously entered data will be shown.

• Disposal Date: Enter the date of the asset disposal in MM/DD/YY format.
• Disposal Method: Select the appropriate disposal method.
• Cash Proceeds: Enter the dollar amount of all cash received and any debt assumed by
the buyer.
• Non-Cash Proceeds: Enter the dollar value of any non-cash items received.
• Expenses of Sale: Enter the dollar amount of any direct expense incurred in disposing
of the asset.
The first eight rows of data are for reference purposes only and are explained in the Main
tab descriptions.

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• Gain/Loss: Displays the gain or loss on the asset after making the calculation. The
amount can be overwritten, and a loss should be entered with a preceding hyphen or
negative symbol.
• Recog G/L: Select Yes, No, or Defer. If you want the system to report a gain or loss in
the tax and company books, specify Yes. Select Defer to choose to report the gain or
loss at a later date. A new row will appear, allowing you to enter the date.

ACTIVITY 53 - DISPOSING OF AN ASSET


The color printer in the office was destroyed by water damage during a storm. It can
no longer be used and must be disposed of.
1 Select Asset, then Group View.
2 From the Group View, select the color printer by double-clicking it.
3 From the Detail View, choose the Disposal tab.
4 In the Disposal Date field, enter 02/15/08.
5 Select Casualty in the Disposal Method field.
6 In the Cash Proceeds field, enter 548.50.
You may have to maximize FAS for Peachtree to see the buttons at the bottom of the
screen.
7 Click the Worksheet button at the bottom of the screen. This opens the
Disposal Worksheet. Page one displays the Tax Book data.
8 On page one of the Disposal Worksheet the Net Gain(Loss) should be 62.59.
9 Use the right arrow button in the top left to view page two. This displays the
Internal Book. The Net Gain(Loss) should be -115.71.
10 Close the worksheet by clicking the x button in the Disposal Worksheet title bar.
11 Click Save to save the disposal.

H I S T O RY T A B
The History tab displays in summary or detail the history of processes and events that
affected the asset. FAS for Peachtree automatically records and displays the events,

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including the date and time they occurred. The following table gives you descriptions of
all processes that are tracked.

Event Code Description

ACTIVE Activated an inactive asset

ADJUSTMENT Depreciation adjustment amount calculated

BACKUP Backed up copy of company data

CHANGE Changed asset information

COPY Company data copied to another company and/or


database

DEPRCALC Depreciation calculated through date

DISPOSE Asset disposed, Gain/Loss Calculated as of date

IMPORT Asset data imported from another source

INACTIVE Asset inactivated

NEW Asset created

RESETBEGIN Depreciation reset to beginning date

RESETSERV Depreciation reset to placed-in-service date

RESTORE Backed up company data that has been restored

NA No history information available

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NOTES TAB
Use the Notes tab to record any type of detail that should be retained for the asset. The
program will supply the date, time, and space for you to type any notes you need.

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Customizing the System 11
CUSTOMIZING THE SYSTEM
........................................
FAS for Peachtree allows you to customize your system. When customizing, you have
many options from which to choose to better suit your needs. You can change field
descriptions and field entry order, set up SmartLists, and create specific sort orders.
Groups can be created to categorize your assets in a manner pertinent to your business.

Cust omi ze Fi el ds Wi ndow


Fields of interest in the Customize Fields window are described below:

• View: Limit the access rights to the field using one of the four available options:
- Allow Entry: Choose this option to allow an entry to the field while not requiring
the entry.
- Require Entry: Select this option to require an entry to the field.
- View Only: Select this option to disallow entry to the field while allowing the users
to see the data.
- Hide: Choose this option if you do not use the field and would prefer not to see it at
all. It can be changed at any time.
• Entry Mask: Define the type of character, alpha or numeric, and the number of
characters you want to use for the field. Use X’s to change the number of allowed
characters. This field is only available for certain field types.
• Entry Order: Use this option to change the order in which the field appears in the
Detail View.

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Customizing the System

• Message: Enter a descriptive phrase that will appear in the status bar when data is
entered in the field.
• Activate SmartList containing Valid Entries?: Select this option to enable the
SmartList Manager. It is not available for fields in which you cannot create SmartLists.

ACTIVITY 54 - CUSTOMIZING FIELDS


Abracadabra does not track purchase order numbers or vendors on a per-asset basis.
Because these fields are not needed, they will be hidden. Also, the Custodian field is
used more often than the Mfg Serial No field. So the entry order will be changed to
make data entry more efficient. Finally, to place the G/L account fields together, the
Location field entry order will be changed.
1 Select Customize, Fields from the Menubar.
2 From the Field list, select Purchase Order No.
3 In the View field, select Hide from the drop-down list.
4 From the Field list, select Vendor/Mfg.
5 In the View field, select Hide from the drop-down list.
6 From the Field list, choose Custodian.
7 In the Entry Order field, select 7th.
8 From the Field list, choose Location.
9 In the Entry Order field, select 6th.
10 Click OK to save the changes.

SmartList Window
SmartLists allow you to specify the data that can be pulled into a field. This prevents data
entry error and can save you time as well. To access the Smartlist window, select Fields

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from the Customize menu, then choose any field for which a SmartList can be created.
Fields of interest are described below:

• Name: Enter the name of the SmartList you want to create. Remember the entry mask
field determines the maximum number of characters you may use.
• List Attributes: Click any of the options to activate or inactivate them.
- Display Description: Displays the description along with the name of the
SmartList.
- Auto Drop List: Opens the drop-down list automatically when the cursor is placed
in the field.
- Quick Lookup: Fills in the field with the nearest match, taken from the drop-down
list, to the first three characters you enter.
- Restrict Entry: Requires you to select an entry from the SmartList. If not selected,
it allows you to enter data that is not in the SmartList. Choosing this option disables
the Auto Add feature.
• Auto Add Options: Click any of the options to activate or inactivate them.
- No Auto Add: Allows users to enter data not in the SmartList but disallows an
automatic addition to the SmartList.
- Confirm Auto Add: Prompts the user to allow or disallow an automatic addition to
the SmartList when entering data not in the existing SmartList.
- Auto Add Always: Adds data not already in the existing SmartList automatically
with no prompt.

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Customizing the System

• Replace Button: Use this option to replace an existing SmartList with a new
SmartList. Selecting this will open the Replace Field List Entry window with the
following options:
- Keep the Original Entry: Replaces the entry in the SmartList but keeps the
original entry in the field for existing assets.
- Blank the Original Entry: Removes the entry from the field for existing assets and
leaves the field blank.
- Globally Replace the Original Entry With the New Entry: Changes the field to
the new entry for all existing assets.
• Delete Button: Removes the SmartList, giving you two options for any assets
currently using the entry you are deleting.
- Keep the Original Entry: Deletes the entry from the SmartList but retains the
original entry for existing assets.
- Blank the Original Entry: Removes the entry from the field for all existing assets
and leaves the fields blank.
• Fill Button: Creates a SmartList using the data entered in the field for all assets in the
company.
• Delete All Button: Removes all SmartList entries, giving you the same options as seen
in the Delete Button description above.
• Print Button: Prints the SmartList report, allowing you to select to print to a printer or
to a file.

ACTIVITY 55 - CREATING A SMARTLIST


Abracadabra will be using three types of classes when tracking its assets. To decrease
the number of incorrect entries, you will create a SmartList for the Class field.
1 From the Menubar, select Customize, Fields.
2 Choose Class from the Field list.
3 In the View field, select Require Entry.
4 Change the Message field to Select the appropriate class from the drop-down
list.
5 Click the Activate SmartList containing valid entries? box.
6 Click the SmartList Manager button.

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7 Because entries have already been made to the Class field, click the Fill button
to pull those entries in automatically.
8 Choose Yes when asked if you wish to continue.
9 With CE chosen, enter Computer Equipment in the Description field.
10 Select each of the List Attributes options.
11 Click Replace.
12 Choose FF, and enter Furniture & Fixtures in the Description field.
13 Click Replace.
14 A new class needs to be added. Enter CS in the Name field.
15 Enter Computer Software in the Description field.
16 Click Add; then click OK twice.

Group Manager
The Group Manager gives you the ability to track your assets. You can work with or
report on specific groups of assets. You can also use groups to dispose several assets at
one time.

GROUP MANAGER WINDOW


There are two windows when creating or editing groups. In the Group Manager window,
select an existing group or enter the group name for a new group. You can also choose to
rename or delete an existing group. To use this process, select Group Manager from the
Customize menu.

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11 MAINTAINING ASSETS
Customizing the System

G R O U P M A N A G E R CR I T E R IA W I N D O W
The Group Manager Criteria window allows you to define the characteristics that make
up the group you are adding. You can also change the characteristics of existing groups.
Choosing the criteria is a three-step process.
- Select the field on which the criteria will be based.
- Establish the operator, such as IS, IS GREATER THAN, IS LESS THAN.
- Define the data or range of data for the operator to base its response on.
You can also create a more complicated set of criteria. To do this, you add the first
selection, then choose another field, operator, and data (or range of data).
To open this window, from the Group Manager window select Add to create a new
group or Edit to change an existing group.

GROUP CRITERIA TAB


This tab allows you to specify the characteristics of the group. Fields of interest are
described below:

• Field Selector: Choose the asset field you want to use to define the group.
• Operator Selector: Select the operator you want to use when defining the group.
• Data Selector: Indicate the data you want included or excluded based on the chosen
operator. This is a case-sensitive field. Also, if you choose an operator that requires a
range, enter the first value in this field.
• Range: Enter the second value in this field when you use an operator that requires a
range, such as IS BETWEEN.

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MAINTAINING ASSETS
Customizing the System 11
• for book: Specify the book you want to use when defining the group. This field is
available only when a book-related field has been chosen from the Field Selector list.

SORT CRITERIA TAB

FAS for Peachtree lists assets in the Group View by the System Number. In reports, they
are listed by the System Number and Book. The Sort Criteria tab allows you to change
the way the system lists assets in the Group View and in reports. You can also indicate
whether you want subtotals in reports.
The program sorts by number, then by uppercase letters, and finally by lowercase letters.
If you select descending order, this order is reversed.
The order of the sort is important. The first field creates the primary sort order. The next
field creates a sort order within the primary group. The third field creates a sort order
within the secondary group, and so on. If you do not select a secondary sort field, the
system lists the assets within the primary sort group in order by System Number.

ACTIVITY 56 - CREATING A GROUP


Create a group so you can sort reports and categorize certain assets.
1 From the Menubar, select Customize, Group Manager.

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11 MAINTAINING ASSETS
Customizing the System

2 In the Group Name field, enter Equipment, and click Add.

3 Select Class from the drop-down list in the first field.


4 Select is from the drop-down list in the second field.
5 In the third field, select CE Computer Equipment.

6 Click Add, and then OK twice.

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P ROCESSING D EPRECIATION
................................... 12
F AS for Peachtree allows you to calculate depreciation for past,
present, and future periods. For this reason, the program uses any of
three dates when calculating depreciation. The program will
calculate depreciation from either the placed-in-service date, the beginning
date, or the through date.
• The placed-in-service date is the date that the asset was
placed in service for the company.
• The beginning date is the date through which depreciation
was calculated for the asset at the time you entered it in the
system.
• The through date is the date through which the system last
calculated depreciation.
The program uses whichever of the three dates directly precedes the date you
enter when processing depreciation calculations. Therefore, if you chose to
run depreciation for a past period and then ran depreciation for a current
period, the depreciation reported as "this run" would be based on all periods in
between. For example:
• Depreciation is current through May 31, 2002.
• Prior-period depreciation is run through February 28, 2002.
• Depreciation is run through June 30, 2002.
The amount of depreciation reported for "this run" would be the total of all
depreciation from February 28 to June 30, 2002. The amounts would be
correct, but the reported figures could cause some confusion if not properly
interpreted. For this reason, it is suggested that when you run depreciation for
prior or future periods, you then run it again for the current period.

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12 PROCESSING DEPRECIATION
Depreciate Assets

DEPRECIATE ASSETS
........................................
You can select from one of two methods to calculate depreciation.
• Select Depreciate from the Depreciation menu.
• Click the Depreciation icon.

Using the Depreci at ion Icon


To use the icon, click the Depreciation icon in the toolbar.

Using the Depreciation Menu


To use the menu option, select Depreciate from the
Depreciation menu.

Depr eciate Window


Use the Depreciate window to select options to depreciate assets. You can select to
depreciate a specific group and any or all books. You also have various options for
printing the report, such as whether you want to show detail or simply totals and subtotals.

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PROCESSING DEPRECIATION
Depreciate Assets 12
ACTIVITY 57 - CALCULATE DEPRECIATION
Depreciation needs to be calculated for the month of February. Use the following
steps to calculate the depreciation and view the report.
1 Select Depreciate from the Depreciation menu.
2 Click Select All to calculate for all active books.
3 In the Calculate depreciation through: field enter 0208, and press TAB. Note
that the program changes the field to 02/2008.
4 Select the Window check box in the Send to section to view the report.
5 Click Execute. The program calculates depreciation and allows you to view the
report. You can maximize the report window to better view the detail shown.
If you receive a warning message asking if you want to overwrite the file, click Yes.
6 When finished viewing the report, close the report window, and click Cancel to
close the Depreciate window.
7 The Thru Date field on the Detail View for each asset now shows 02/2008.

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12 PROCESSING DEPRECIATION
Reset Depreciation

RESET DEPRECIATION
........................................
To reset depreciation, you must first choose the asset or assets
for which you want to reset depreciation. Then select Reset
Depreciation from the Depreciation menu.

You may select multiple assets or an individual asset in the Group View. You may also set
up a group of assets and select that group while in the Group View.
You should not need to reset depreciation under normal circumstances. However, there
are instances in which you may need to reset your calculations, for instance, if short tax
year information was not entered prior to calculating depreciation or the estimated life
was entered incorrectly for a group of assets.
When you choose to reset depreciation for a disposed of asset, the disposal is canceled.

Reset Depreciation Window


On the Reset Depreciation window you will choose the book for which you want to reset
depreciation and indicate the date from which you want the reset to occur. Each field is
described below:

• Books: Select the book or books you want to reset. Click Select All if you want to
choose all of the active books.
The inactive books will appear, but you cannot select them.

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PROCESSING DEPRECIATION
Reset Depreciation 12
• Service date: Select this check box to reset to the asset's Service Date. This option
resets depreciation amounts to zero and should be chosen if critical depreciation
values, such as the acquired value or depreciation method, were entered incorrectly.
You should enter the beginning amounts and other values after resetting and before
calculating depreciation again.
• Beginning date: Select this check box to reset to the beginning date of the asset. This
option resets depreciation to the amount entered in the asset's beginning depreciation
fields and should be chosen if the beginning amounts are correct but the amounts for
current depreciation are not. After you reset, change asset data as necessary, and
recalculate depreciation.
• Period Close Date: Select this check box to reset to the last period close date. This
option resets depreciation to the amount that existed when the last Period Close was
performed and should be chosen if the amounts at the last Period Close are correct but
the amounts for current depreciation are not. After you reset, change asset data as
necessary, and recalculate depreciation.
• Clear MACRS Conv?: Select this check box to change the averaging convention on
qualifying MACRS property (property types P, Q, and A). You must change the
averaging convention on the Book Overrides page of the Edit Company window before
you recalculate depreciation.

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12 PROCESSING DEPRECIATION
Post Depreciation

POST DEPRECIATION
........................................
To post depreciation, select Post Depreciation from the
Depreciation menu.
This process allows you to post depreciation amounts directly
into the general journal in Peachtree. There are three things that
should be done prior to posting:

- The company in FAS for Peachtree must be mapped to the company in Peachtree.
This can be done in Edit Company.
- The company must be open in Peachtree.
- The depreciation must have been calculated for the period in which you want to
post.
When you post, the program uses the amounts reported on the Depreciation Expense
report as This Run. If depreciation has been calculated for any date other than the last
day of the prior month, the amounts will be incorrect. To ensure correct amounts, you may
want to calculate using the last day of the prior period; then calculate again using the last
day of the current period.

Post Depreciation Window


In the Post Depreciation window you will preview a report showing the amounts to be
posted in journal format; then post the amounts. Fields of interest are described below:

• Group: Select any group of assets for which you want to post depreciation.
• Period Posting Date: Enter the date through which you want to post. The amounts
posted will include This Run figures for only the assets for which depreciation has been
calculated through this date.
• Journal Entry Date: Enter the date on which you want the depreciation posted in
Peachtree.

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PROCESSING DEPRECIATION
Post Depreciation 12
ACTIVITY 58 - POST DEPRECIATION
Depreciation has been calculated and now must be posted for the month of February.
Before posting, you will ensure that your company has been mapped to the
appropriate company and that company is open in Peachtree Complete Accounting.
You will also ensure the correct amounts will be posted by calculating for the end of
January, then the end of February.
1 Select File, Edit Company from the Menubar.
2 Click Map to Peachtree. Ensure that Abracadabra Web Services is highlighted
in the box on the left and click OK, then OK.
3 Open Abracadabra Web Services in Peachtree.
4 In FAS for Peachtree, select Depreciation, Depreciate.
5 Leave the Group field set to Active Assets.
6 Choose the Internal book.
7 Enter 01/08 in the Calculate depreciation through: field.
8 Send the report to the Window, and click Execute.
9 Close the report, and change the Calculate depreciation through: field to
02/08.
10 Click Execute. The amounts shown in the column for This Run will post to the
general journal in Peachtree when you post depreciation.
11 Close the report, and click Cancel on the Depreciate window.
12 Choose Depreciation, Post Depreciation.
13 Select <All FAS Assets> in the Group field.
14 In the Book field, choose Internal.
15 Enter 02/29/08 in the Period Posting Date: field.
16 In the Journal Entry Date: field enter 02/29/08.
17 Click Preview to view the report. FAS for Peachtree opens your Web browser
to view this report. The amounts should coincide with the amounts you viewed
on the Depreciation Expense report.
18 Close the browser, and click Post.
19 To view the journal entry, display Peachtree on the computer desktop.
20 Select Reports & Forms, General Ledger.

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12 PROCESSING DEPRECIATION
Post Depreciation

21 Highlight General Journal, and click Display.


22 Click OK.

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INDEX

I NDEX
......................
B adjusting 54
billing
contracts 150
cost plus 150, 154
cost process 150, 158
budget
A job cost 133
building assemblies 47
accounting periods 170
changing 172 C
Accounts 59
accounts changing
hiding 163 accounting periods 172
accounts payable inventory item prices 55
job cost applied to 138 charge items 95
overview of tasks 23 checks
Accounts Receivable 150 group of employees 76
invoices 152 job cost applied to 145
sales orders 150 memorized 176
accounts receivable Color Scheme 165
hiding accounts 164 contract billing 150
overview of tasks 59 cost codes
activity items 95 adding 129
adjustments cost plus billing 150, 154
job cost applied to 147 cost process billing 150, 158
applying credit memo window 61
reimbursable expenses 155 custom fields
time tickets 155 jobs 122, 124
assemblies customers
bill of materials 41, 54 billing 141, 145, 148
building 47 finance charges 65
unbuilding 47 prepayment 65
assets customize fields window 201
depreciating 210 customizing FAS 201
maintain 191, 192
automatic purchase order creation 31 D
decimal
B number of places 163
batch posting 169 options 163
beginning balances deductions
job cost 131 calculated 82
bill of materials 41 flat rate 80

217
..... INDEX

garnishment 88 G
default information garnishment 88
jobs 121 General Journal
deposit job cost applied to 148
customer 65 memorized transaction 176
depreciate assets 210 General Ledger
depreciate window 210 overview of tasks 5
depreciation global options 162
posting 214 Peachtree partners tab 166
resetting 212 group manager 205
Detail View 192 group manager criteria window 206
detail view group manager window 205
disposal tab 197
history tab 198 H
main tab 192
notes tab 200 handling serialized inventory items 47
disposal tab hide
detail view 197 accounts 163
history tab
E detail view 198
employees I
garnishment 88
paying a group 76 inventory
paying with time tickets 105 activity items 95
time ticket 93 changing item prices 55
entering company information 185 charge items 95
expense tickets 92 job cost applied to 147
applying to invoices 112 overview 39
charge items 95 invoices 152
entering 108 applying tickets 112
using 93 applying to sales order 63
memorized 176
F item attributes tab 42
FAS J
customizing 201
FAS for Peachtree 183 job cost
starting 183 accounts payable 138
finance charges adding cost codes 129
applying 65 adding jobs 122
find transactions 180 adding phases 127
formulas 84 beginning balances 131

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INDEX

defaults 121 O
estimates 133 options
General Journal 148 global 162
inventory 147 overhead 148
labor distribution 145
overhead 148 P
overview 119
payroll 145 payments
reports 159 employees 76
time tickets 141 memorized 176
jobs selecting for 28
adding 122 vendors 28
custom fields 122, 124 payroll
selecting 137 job cost applied to 145
overview of tasks 75
L payroll fields
calculated 82
labor distributed to jobs 145 flat rate 80
formulas 84
M garnishment 88
main tab Peachtree partners tab 166
detail view 192 phases
Maintain menu for FAS 185 adding 127
maintaining assets 191, 192 post depreciation 214
master stock item 42 posting method 168
memorized transactions 176 batch 169
entering 176 real-time 169
saving 177 predefined
selecting 177 templates 173
using 177 preferences
menu global options 162
Maintain prepayment
for FAS 185 customer 65
Processing Depreciation 209
N purchase order
New 185 auto creation 31
New Company Setup purchase orders
for FAS 185 auto selection 35
notes tab memorized 176
detail view 200 purchases
jobs applied to 138

219
..... INDEX

Q introduction 74
quotes Smart Data Entry 164
memorized 176 SmartList window 202
spell check options 166
R Spelling tab 166
starting FAS for Peachtree 183
real-time posting 169 substock item 42
receiving serialized inventory items 47
reimbursable expenses T
applying 155
reports tax tables 82
groups 13 templates
job cost 159 customizing 174
time and expense 116 predefined 173
reset depreciation 212 selecting 175
tickets
S applying to invoices 112
expense 92, 108
sales invoices 152 job cost applied to 141
sales orders 150 time 92, 98
entering 65 types 92
filling 63 using 93
search time and billing
for transactions 180 activity items 95
select for purchase orders 35 charge items 95
select for purchase orders-filter selection 36 reports 116
selecting time tickets 92
jobs 137 activity items 95
memorized transactions 177 applying 155
templates 175 applying to invoices 112
selling serialized inventory items 49 entering 98
serial numbers tab 46 job cost applied to 141
serialized assembly items 51 pay employees 93, 105
serialized inventory items using 93
assemblies 51 weekly entry 102
beginning balances 51 transactions
handling 47 finding 180
receiving 47 memorized 176
selling 49
set up 46 U
ship
items 63 unbuilding assemblies 47
shipments 74
220 Peachtree Quantum Advanced Self-Study Guide
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INDEX

V W
vendor credit memo window 25 weekly time ticket entry 102
vendors window
paying 28 credit memo 61
depreciate 210
select for purchase orders-filter selection 36
vendor credit memo 25

221

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