I'm so confused. (A long wenting and question at the end.)

[akunthita]

I'm so confused about Peachtree. Ready to give up. Peachtree's website says that you don't have to be an accountant to use their software, but I don't think this is true. There are all these words and concepts I have never even heard of before.

My husband has a very tiny, one person mortgage company. Working from home. He helps people with purchases and refinances. Basically getting the funding done. Just paperwork.

I have been using Microsoft Money to manage our household accounts and the activities of the business. Basically it just means that once or twice a month the business receives a check from lenders after a deal is closed, I pay the business bills, which is phone, shipping, processing, internet, and a couple of other small things, and also transfer some funds over to the household account to pay our household expenses.
Microsoft Money is so nice for this. I had absolutely no problem understanding, learning, and using the program after opening it the first time.

However my husband found out that Money is not really proper for a business. He was told that it is not auditable (whatever that means) and that if any authorities ever want to check his records Money is not going to be acceptable.
We were recommended Peachtree and that it is going to be easy to use.

Well, I have been struggling with this suftware for 3 months now. I have read the entire manual, I listened to some classes at Online University, and still cannot do even the most basic things. I don't understand any of this stuff.

I followed the Setup Wizard to start a company. That was also quite confusing, but I figured that my husband must be in the financing business and felt comfortable choosing that one. Now I have this giant thing called "Chart of Accounts" that I have no idea what to do with. Depreciations, and discounts, cash, cash on hand, money market, inventory and a zillion different kind of taxes............what is all this?

All I wanted to know is how to keep using the two accounts that we have for the business; one checking, one credit card, and pay the bills!

I strongly feel that this software was misrepresented. I don't think I'm that stupid; I have figured out many different softwares by myself, I'm confortable using the computer, and I like to learn new things. I think that perhaps there should be a separate manual or training CD for very simple businesses (so the pros don't get bored and the newbies don't feel stupid), or they shouldn't be advertising it as something that a non-accountant can learn and use.

Sorry for this long wenting. I'm really fried. What I would like to know is that are there any chances that this program can be actually learned by a non-accountant, and if it is a practical program for a small business, and if yes, where in the world can one get real help with it? Or should I just return it and forget about the Peachtree experience. (I would love to forget about it! It has been a nightmare!) I have been very-very disappointed with this one despite all of my good intentions and eagerness to learn.

Please let me know what you guys think. I just heard a few days ago that now Money also has a software that is acceptable by CPAs, and I also heard that Quickbooks is a much eaesier program then Peachtree. But I just hate to be defeated like this...........

[mandyp]

It does sound like you have real issues with this program. There are many different Peachtree programs. The simplest program they sell would be sufficient for your small business. I do think that accounting knowledge is a huge benefit for trying to learn the program. The program does do the double entry for you when writing checks (you chose the cash account). Years ago, I went from the DOS version of Peachtree to the Windows version. I purchased a video published by "Fast Class Productions" called Peachtree Accounting for Windows. It was a complete step-by-step video instruction. I'm sure someone out there publishes something similar. If I knew your address, I would mail this older one to you. The basics are still the same. Their phone number as listed on the back of the video was 1-800-732-2485. Address was 220 West Lamme, Suite B9, Bozeman, Montana 59715.

As for the Chart of Accounts, the program provides sample ones and you can edit (delete unused accounts), add or create your own chart. If you look at the sample, you could use 1000 numbers for your cash accounts, 1200-1300 numbers for any office furniture/fixtures(fixed assets), 1400 for depreciation, 2000 numbers for current liabilities (short term loans, payroll taxes owed - if any), 2700 for Beginning Capital(equity-retained earnings), 2800 for owner withdrawals (equity-gets closed)
3000 numbers for income accounts, 4000 numbers for purchases and labor (cost of sales) and 5000 numbers for expenses. You can define your own accounts. If you use the sample chart of accounts you can edit/change/add anything as long as you haven't posted to any of the accounts yet.

I don't know where you are located but there are colleges that teach the basics on Peachtree. I wish I could help more but if you can just get a start, this is a wonderful forum and I have always received good information. Good luck.

[akunthita]

Thank you for your repsonse. It was encouraging. I will call that 800 number and check witht them if they still have the video.
I think what I'm going to do is that I will post here one question at a time as they come up while trying to figure out Peachtree.
I definitely don't want to go back to school just to learn a computer program. If Peachtree is that difficult then it has no use to us. It's like putting on adult shoes on a tiny kid. It is way too big and simply cumbersome and restricting. One should choose one's battles wisely. I have no time to waste.
So I will give this program one more month of a chance to proove itself to be useful.

My first question is; although the Peachtree Manual says that you can set up your own chart of accounts, it never explains you how, and it strongly advises you not to do so. In fact it says that you should only do it if you are an expert both with Peachtree and with accounting in general. That is why I choose to follow a sample company. But now I have a chart of accounts that include items that I don't even know what they mean.

Okay, I can delete accounts, but I'm afraid to do so, as it seems that in Peachtree acocunts are all tied together in mysterious ways, due to the double (or triple? or quadruple?) entry system. (Which I don't understand at all, and as I learned very few people actually understand.)

My question is, is there some kind of a chart where you can check what account is tied together with what?

The manual also says that to start out with Peachtree you don't have to set up all your vendors and customers, use your chart of accounts and this and that. You can just set up one checking account and pay your bills, and later, as you become more familiar with the system, you can add other things. But it never explains how to do things in the simple way.

Also, is a simple way (if it exists) acceptable by a CPA? In otherwords is it possible to use Peachtree in the wrong way?

Okay, that's all for now. Thank you all for your support.

[cohee25401]

I use Peachtree at work and Quickbooks for our business at home. Both software are friendly user. I just think your chart of accounts in PT needs to be modified for your purposes. PT has a few different functions and so does QB. If you need any help I will be glad to walk you through. I am not sure why your husband was told that MS Money wasn't acceptable, I have friend that is an accountant and uses MS Money. Well anyway if you need any help you can contact me at cohee_newsgroups@hotmail.com

[LauraG]

Peachtree does assume that you have some accounting background to use the software effectively. But all that is needed are some real basic info. Your staring point is your chart of accounts and how it is structured. When you use the start company wizard it gives you the option of choosing a sample COA based on your type of business. Once you have done that you can either delete the others, ignore them or make them inactive by using the Maintain Chart of accounts menu. You'll want to keep or add Asset accounts for any bank accounts, an Accounts Receiveable account for monies owed to you by customers, an Acccounts Payable account for monies you owe to Vendors, an income account for your sales and expense accounts for all of your bills. Certain accounts can not be deleted by PT: A/P, A/R, Retained Earnings, Income and certain accounts used by Payroll. PT will certainly tell you which ones you can not delete. If you are unsure of what accounts will be used then just ignore them for now and next year revamp your COA based on how your 2004 expenses are categorised.

For more PT help, find a copy of PT for Dummies by Diane K??? (I can't remember her last name at the moment). This book is an excellent resource. PT also sells training manuals with sample companies on their website. And of course this website is a great source of help so ask away.

[TheWolf]

An easy fix and one well worth the time and expense is a weekend accounting course in the continuing education department at your local college. Especially if you are running a mortgage company you will want to make sure the books are correct due to federal regs on those types of companies.

I understand your frustration and have heard this many times but you will find it worth it to get just a basic accounting course under your belt.

[mandyp]

I found the following information at the bottom of the home page of this site.
Perhaps it would be helpful to you: (mandyp)


Learn Peachtree Accounting: A Step-by-Step Audio Guide
Wish you had somebody there who could explain Peachtree to you, step by step?
Someone who would tell you what you need to know, rather than handing you a
book? And who would work on your timetable, at your convenience?

Learn Peachtree Accounting is an audio/visual CD course that will teach you
Peachtree Complete Accounting for Windows.

The course walks you through setting up a sample company, running a company,
and printing financial statements. You get practice data, and a test when you've
completed the course, to determine your comprehension.

The course is packed full of annotated Peachtree screens and audio explanations.
You'll learn how to use Peachtree so your accounting work gets done right.

Ships on one CD-ROM. Only $69.95.

or call free (800) 256-1786.

[Lisa_p]

You may also want to try to find a Peachtree consultant in your area and invest in a couple of hours of one-on-one training.

If your business model is a simple as you describe, that should be all it takes to get you going in the right direction. The program can be very complex, or it can be very simple, depending on how you use it. A good consultant should be able to understand how your business works and tailor Peachtree to be easy for you to use.

Good luck and hang in there!