Creating Customers &Recording Journal Entry

Hammad Nangiana

HOW TO CREATE CUSTOMER RECORDS

• After opening the company in our Peachtree accounting software:

• The first thing we do in order to create the customer record is that we Click on “maintain” option at the top of the software’s toolbar and on clicking it, following window appears on our desktop screen

• From this window we select the first option which is “Customers/Prospectus….” In order to create our customer records

• On clicking it following window scheme appears on the screen.

• We fill this window for each of our client or customer

• Every customer will be allocated with a separate and unique ID which will be written in “Customer ID” portion

• This ID cannot be repeated for any other customer

• Every customer will have a unique and different ID as we allocated different ID for different accounts while preparing chart of Accounts in the beginning

• After this we write the name of the organization with which we are dealing in the “Name” portion in this window

• After writing the name of the organization we first fill the “General” part of the requirements

• We enter the name of that person or the post of that person as per the conditions with whom we are going to engage in

• This can be sales representative, salesman, Sales manager or any other person as per the requirements

• After this we enter the address of that customer in the “Address” portion

• Only 30 alphabets or numbers can be written in a single line in “Address” option

• If the address is longer than 30 alphabets then we can write the remaining address in the 2nd line for address

• Then we write the city and so on

• In “Customer Type” we mention which type of customer is he/she is according to our categorizations

• This Customer account is a subsidiary ledger account which will be entered in sales revenue account

• After filling the other required information in “General’ we move onwards on to Sales Defaults by clicking on it

• Customer ID, Name and GL Sales acct must be entered in order to create the record for any customer

• Here we enter all the required information• In the “GL Sales Acct” portion we write the

ID of our sales revenue account• If we do write any ID which doesn’t exist in

the chat of accounts then the blank area in “GL Sales Acct” start blinking

• After filling this information we move on to the “Payment Defaults” by clicking on it

• Here we enter all the required information regarding the payment to the client

• After filling this portion we move forward to Custom Fields by clicking on it

• Here we enter the Second contact if required, Reference if required and so…

• These Field labels can be changed easily on the customer default window

• After completing this “Custom Fields” we move forward to “History” by clicking on it

• This is the last window before completion of a single customer record

• After filling these all required information, we click on “Save” button in order to save the record which we have entered in the software for that specific customer

• After this we can again repeat our whole process in order to create more records for different customers

ENTERING BEGINNING BALANCES OF THE CUSTOMERS (IF ANY)

• If there are the beginning balances of the customers for which we have created the record in the software then we can also add this beginning balances in that customer’s account

• For this first we select the “Maintain” from the toolbar

From this we select “Customers/Prospectus….” And following screen appears on the screen

From here we select the option “Beginning Balances”

• To enter the beginning balances of the customers we will have to select any customer whom beginning balance is required to be entered in the software

• We will Double click on that customer and following window will appear on the desktop screen

On selecting this option following window appears on the desktop screen

• Here we enter the invoice number in “Invoice Number”, Date of that invoice in “Date”, “Purchase Order number” if any, “Amount” and finally ID of account receivable in “A/R Account” in the window

• After completing this we press on “Save” in order to save the beginning balances of the customers

• We will enter the beginning balances of the remaining customers in the same manner as we entered for the first customer

Review a Customer's Status• From the Maintain menu• Select Customers/Prospects• Peachtree displays the

Maintain Customers/Prospects window

• Enter or select the ID of the customer record you want to view

• To compare the customer's balance

to his or her credit line, select the

Current Balance button

• Peachtree displays a balance forward

and the transactions for the current

accounting period as shown in the

following window

To see the customer's history, select the History tab

HOW TO RECORD A JOURNAL ENTRY IN PEACHTREE SOFTWARE

• To record a journal entry in the Peachtree accounting software, we will first open our company in the software and after owning the company in the software we will click on “Task” and following window will appear on our desktop screen

• Now from this window we will select “General Journal Entry…” in order to pass a journal entry in the software

• On clicking this, following window will appear on our desktop screen

• This is the simple format of a general journal which is used to pass journal entries

• Here we will enter the date of the transaction in the “Date” area

• We can also give any reference ID to the recorded transaction by mentioning that ID in “Reference” area

• By mentioning this ID, searching transactions in the general journal will become easy

• In “GL Account” we enter the ID of the account which is involved in the transaction

• It can be any account like salaries expense account, wages account, commission account, discount account or any account according to the situation

• The first line is for debit while the second line is for credit

• If there are two items in debit then first two lines can be used for debit items while in contrary if there are two items of credit then two lines beneath the debit line or lines can be used to record the credit items in the general journal

• In “Description” we can enter any description related to the journal entry

• In “Debit” we enter the debit amount while in “Credit” we enter the credit amount of the transaction

• Like this the journal entry is passed and then saved by clicking on “Save” button at the top bar