Learning Peachtree Accounting

Peachtree Accounting is not be the easiest accounting program to learn. The software is very comprehensive as well as complex. However, the benefit to Peachtree over other similar programs is that it works equally well for small and large businesses.
Learning Peachtree is a matter of focus and determination. Hopefully, the tips below will make the process much easier.

Instructions

Finding the Right Peachtree Program

1. Determine the accounting system components that you want your Peachtree software to handle. These could include inventory, payroll, accounts receivable and payable, spread sheets, check development, bill management and more. Know the needs of your business in order to better decide which Peachtree program will work best for your type of business.

2. Choose the appropriate Peachtree program based on the decisions made in Step 1. Peachtree comes in basic, advanced and premium versions with updates available every year. Install the program onto your computer following the software's instructions.

3. Read the instructional manual that comes with the software. Be sure to focus on those sections that apply specifically to your particular kind of business. Come back to read the other sections at a later time so that you will have a clear understanding of the entire program.

4. Activate the program within your computer. Complete the warranty information.

5. Go through the Preparation Checklist, making sure nothing is missing. Check out the Wizard helpful hints before beginning the program. Also make yourself aware of Peachtree's Navigation Center.

6. Complete the Tutorial before making any account entries. Continue until you are very comfortable with the program and how it operates. If necessary, complete the tutorial more than once.

7. Review the Instructional Demos that apply to the program as you intend to set it up. Peachtree has more than 20 such demonstrations to choose from. They can be invaluable because they answer many of the most common questions about the software system. Sample demos include learning how to backup the system, change accounting periods, and closing out the year.

8. Convert an old accounting system like Quick Books to Peachtree by following the Conversion utility.

Getting Started with Peachtree

1. Determine the accounting method to be used - - cash or accural.

2. Enter the general startup business information required such as your business name, address, phone number, business form (sole proprietorship, corporation, limited liability company, partnership) federal, and/or state identification number.

3. Determine your business' accounting period, both monthly and yearly. Input that information into the program, as requested during setup.

4. Set up your beginning business "Chart of Accounts." This establishes the various functions that the program will keep track of and process for your business. This could include "Accounts Receivable and Payable," "Inventory," "Office Supplies" and "Equipment Depreciation," "Sales Tax" and much more. You can pick and choose those aspects that pertain directly to your type of business.

5. Set up the remaining system information that will be needed for general ledgers, the development of sales receipts, inventory lists, and more.

6. Choose the tasks to be tracked within the General Journal. These might include, but would not necessarily be limited to, sales orders, invoices, or receipts; purchase orders and payment information, and running payroll.

7. Establish the Accounts Receivable information. This will include customer names, terms, and any other additional information needed such as current amounts due, beginning balance, outstanding debts, and more.

8. Enter the accounts payable information. This will include the vendor's names, your business's terms, current inventory on hand, cost of goods, and any other information your business might require including accounts not up to date, outdated inventory and more.

9. Establish inventory requirement information. You can pick and choose the information your business needs with regard to this aspect of the business, like number of items on hand, purchase date, monthly depreciation, and any other pertinent information.

10. Set up any additional reports within Peachtree that your business might require for payroll, bank reconciliation, or tax information.

11. Continue through the program to establish any and all business accounts and reports, following the step-by-step instructions provided.

Tips & Warnings

• Read everything more than once and use the tutorials and demonstrations. If necessary, seek out the assistance of a bookkeeper or accountant for help. If the Peachtree instructions seem too complicated, purchase "Peachtree for Dummies." The book breaks the pieces of the accounting system into smaller, easier to follow bites of information.