How To Maintain Coustmer Accounts

“MAINTAIN CUSTOMER RECORDS “

To maintain customer records we will open the Peachtree Software. Then open the existing company and go to the maintain option and select the customer/prospectus option as shown below:

A new window will appear showing the information in which we can, change and store all information about companies and people to whom you sell goods and services. You can also enter information about companies and people with whom you would like to do business. For customers, this includes information such as:

·        General

·        Sales draft

·        Payment details

·        Custom fields

·        History

To see any customer information we will write the customer “ID” in the Customer header fields that are located above the folder tabs of the Maintain customer/prospectus window. This is where you enter lookup information about the customer such as the customer ID, name, and status as shown below:

In this we give customer information like

Address

Contact number

E mail address, fax, beginning balance etc

 

.

 The next head that is sales defaults.

In this we have to fill the information about

1       Sales Rep: If buyer is dealing through any sales person then this option will help you to fill out by sales representative name.

2.       GL sales Acct: This is general ledger sales account. In order to fill this option you have to select “Sales Account” by clicking on the search button which is next to the filling row and before this you need to verify that Sales account is already exist in “Charts of Accounts”.

3.       Open. P.O: This is the purchase order number of the customer.

4.       Ship Via: here you can select the shipping medium that would be use as a primary shipment to the relative customer.

Now we will select the payment tab:

In the payment tab customer is willing for payments through Credit Card, then this tab needs to be filled at least by the info Cardholder’s Name, Credit card Number and Expiration Date.

After completing we will go to the custom fields tab in which we can give the second contact, reference, mailing list, multiple states.

After that we will go to the history tab and the following window will appear showing the following information:

Customer Since: It is the date when you first made a sale to the customer.

Last Invoice Date: This is the date of the last invoice you sent to the customer.

Last Invoice Amt: This is the amount of the last invoice submit.

Last Payment Date: This is the date of the last payment you received from the customer.

Last Payment Amount: This is the last payment amount you received from the customer.

Last Statement Date: This is the date of the last statement you sent to the customer.

HOW TO MAINTAIN DEFAULT INFORMATION

First we open the Peachtree software and open our existing company. Then click on the option “MAINTAIN”

.

Then open “COUSTMERS” by clicking on” DEFAULT INFORMATION. This will appear.

In “PAYMENT TERM”

Choose due in number of days.

Fill the necessary option. Credit limit will be according to due date. Like 2\10, n\30

As costumers is related to sales fill the last option by sales.

Then ACCOUNTING AGING

Click on option due date and move on.

Then costumer field

Fill the first blank with second contract and rest will remain same and move on.

Then in FINANCE CHARGES

Fill the finance charges according to you and due date.

How to maintain a chart of accounts

HOW TO MAINTAIN A CHART OF ACCOUNTS?

Chart of Accounts:

           “ System of accounting records developed by every organization to be compatible with its particular financial structure, and in agreement with the amount of detail required in its financial statements. It consists of a list of ledger account names and numbers showing classifications and sub-classifications, and serves as an index to locate a given account within the ledger.”

Why we want to maintain a chart of account?

Setting up a chart of accounts is one of the first, if not the first, task you perform when setting up an accounting system whether a manual or computerized system.

A business needs and should want to know where the money is coming from and where it is going. Your chart of accounts is a tool for gathering and organizing this type of information.
A business must have useful information in order to be able to survive in today's competitive business world. You notice that I said information - raw data is not very useful until it has been "massaged" and summarized into meaningful information. Your accounting system should be designed and used to provide much of this detailed, summarized, and needed information. The information available for your financial reports (summary and/or detailed) often depends on how well you designed your chart of accounts.
Modifying Chart of Accounts:
To maintain the chart of accounts we go through the following process.
We have opened the Peach tree software where we have already created the company. The very first window which was opened was:

The chart of accounts will maintain automatically in software when you create a company.

We have selected the option “open existing company”. Then we pressed the browse button. Then we have selected the drive where our company is located. We have selected the Z drive, and opened our company. The following window was appear:

From this window we have selected the “maintain” option from the toolbar:

After selecting that we have selected the option out of all “chart of accounts”.

The list of chart of accounts were appear:

Now we want to delete the any account id from the list of accounts. Let assume you want to delete the petty cash accounts you will type the account id or search it by pressing the “search” option.

After selecting that we will select the delete option from toolbar and delete this account.

And if you want to change the id we will select the option “change id” from tool bar.

After selecting that the following screen will appear:

The red circled image you can see above would appear. And here you will add your new account id.

HOW TO ADD BEGGING G BALANCE

First create a new company as you do before. Then by giving information of CHARTS OF ACCOUNTS, create charts of account.

Go in option maintain then click charts of accounts.

Then by giving information save one by one charts of accounts.

Then how to add beginning balance:

When you open charts of accounts through maintain option it will appear like:

At the rite side of charts of accounts there is an option of “BEGINNING BALANCE”. Click it will appear:

If giving information of charts of accounts is given like
as on 1^st January 2012, then you must chose the starting and ending month of last year.

By choosing the rite option of year, press OK.

It will appear you this chart. By adding all values given in charts of account and if the balance is equal then press OK at the left side the top.

This is how you entered the beginning balances.