How to record payments in Peachtree

In order to maintain payments we will first of all opens PAYMENTS from task tab

And a window will open

As we have maintained the vendor we then will select a specific vendor and we will enter the required data which includes

1.     Check number

2.     Date of payment

If the payment is made within the discounting period, we then will receive a discount according to the terms and that discount is our income. Well if the payment is made after discounting period, our discount will be lost.

The moment we select the vendor ID the invoice tab shifts automatically to the payment window.

3.     As the discount is received now we need to select the revenue account.

4.     Discount received is shown in the figure as follows

If P.O Is not maintained then we will add vendor information and inventory items.

HOW TO MAINTAIN PURCHASE ORDER

In order to maintain purchase order we will select the purchase/receipt inventory from the task tab

And a window opens as follows

Well we will first of all enter the vendor id if we had maintained it earlier…if the vendor is not maintained we will double click the left mouse button in the vendor id tab and following window opens in which we will enter the id, name and purchase account number and save it shown as follows

As the vendor is maintained we, now, will select the item id from the inventory items if maintained earlier. And if it’s not maintained we then double click left button of the mouse and windows opens as shown below

We, then, will enter the required data and save it. As both vendor and inventory are maintained we now will start entering data which includes

1.     Vendor ID

2.     Date

3.     Purchase order number

4.     Quantity

5.     Item

6.     Per unit cost

And save it as shown in figure

After maintaining this we now need to enter data for purchase orders, and for that we will select the purchase/receipt inventory from the task tab and enter the vendor id and shows following window

We will select the purchase order number

After selecting the number, we then, will enter the received units and the invoice number and save it and purchase receive inventory is maintained henceforth.