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brad
08-29-2001, 10:45 AM
Hi,

I am setting up Peachtree Accounting 2002 for a small business and have been asked to enter data for the past few months so when our fiscal year ends we may present the accountants with a disk rather than boxes of paper.

I am not familiar with accounting--I am a tech guy.

The data I have takes the form of several debit and credit entrys
for each account number for each month. These numbers do not balance so I cannot seem to enter them.

I have tried changing to a cash-based business, changing the date, and using general ledger entries. What simple thing am I not understanding?

thanks!
brad

Baytek
08-29-2001, 11:07 AM
In order to enter journal entries into Peachtree, they must be balanced. If you are entering beginning balances for your chart of accounts, then usually the off-setting account is the retained earnings account. However, it is not clear exactly what entries you are trying to make.

I recommend some training or phone support to help you get your company set up properly.

Baytek, an Authorized Peachtree Resource Center can train you, no matter where you are located. Please email support@baytek.com.

Baytek
Authorized Peachtree Resource Center
California Colorado Nevada

brad
08-29-2001, 12:25 PM
Thanks for the reply Baytek!

I have no problem entering beginning balances...my employer would like more information than that entered, however. I am supposed to give some indication of the activity within that account.

To simplify what I have been given, say I have a cash account and for that account I have two numbers...one being a credit and one being a debit amount for that account. Each debit total is the result of a month worth of debits for that account and the same for the credit total. I am, in other words, entering historical data, or trying to reconstruct the activity for an account for a period that has already passed.

We have certainly discussed hiring a consultant for this work, and your offer is appreciated, but as of today that doesn't appear to be the way we are headed.

thanks again!

brad

Baytek
08-29-2001, 04:15 PM
Peachtree is a double-entry accounting system. This means that for every debit amount entered there must be a credit amount for the same amount.

For example:

You paid your utility bill of $500.00 for the month of July.
The general journal entry would look like:

56000 (Utility Expense) 500.00

10200 (Cash) -500.00

Another example:
You paid a monthly loan payment for a company vehicle of $435.00:

23500 (Note Payable-vehicle) 300.00

57500 (Interest Expense) 135.00

10200 (Cash) -435.00

From your description of your problem, it sounds like you don't have the other half of all the entries.

For more information, email support@baytek.com.

Baytek
Authorized Peachtree Resource Center
California Colorado Nevada
www.baytek.com
800-487-3224

Unregistered
08-31-2001, 02:05 PM
Firstly you have to get a trial balance of your company that is balanced. i.e the debits=the credits. Aside adjustments in the retained earnings.It is difficult for a non accounting person to unearth the hidden entries or ask the right questions. SO.
Every company should have an auditor. Call on them and ask them to help you to draw up your trial balance. They may have a better idea historically of the company and will save a lot of un-needed
corrections later. They may have experience of working with Peachtree, which helps a lot. Some may ask a fee. If you can't afford that:advertise in your local rag for "Help wanted: a Peachtree accountant", I like to think that we Peachtree accountants are not all a" hungry" lot and will help out a beginner. Most you could offer to exchange your tech skills for some input or work, you could end up with some nice friends that could
benefit your portfolio or your company. Keep the
owner advised of your actions.

sydney@itismybusiness.com

myshahid
12-31-2005, 09:37 AM
PLEASE SEND ME YOUR SPECIMEN ENTRIES YU HAVE TO INSERT

I CAN HELP YU TO MAKE SPECIMEN CHART OF ACCOUNTS

MY SHAHID