horse bidness

[rpcassingham]

I am a new Peachtree user, not an accountant, my only previous experience is using Quicken for personal finances.
I am trying to set up my horses in Peachtree as a way of learning to use the program. Once I set up the accounts and expenses for the "stable", should I set up each horse as a customer, or a job, an asset, or some combination? Thanks.

[LauraG]

You don't say what your business is.

Here are some things to think about:

-your customers are people that you are selling your service or product TO.

-your vendor are people that you are buying your product or service FROM

-Assets are things you OWN (horses fit in this category)
-Liabilities are things that you OWE (bills/payables)

You might go to a bookstore and get a book to help you learn the program. "Peachtree for Dummies" is a good one.

[isee]

Hi,
I have used the pcw100.ini file in PT2003 to map my multiuser version. I have a seperate company using a single user 2004 pt but want to have the data mapped to the server for backup purposes only. I can't find the pcw100.ini file, how is this done in the 2004 without going through the install process??
thanks.

[dringstrom]

Use pcw110.ini.

[rpcassingham]

Laura: these are racehorses and as such they are depreciable assets that also generate expenses (and how!) and occasionally income. I was looking for a sample company to use to set up a chart of accounts and finally chose a rental property management company as an analogy. Haven't completely set it up yet but am struggling through it. Thanks for your reply.

[LauraG]

Go into the PT help files and do a search on "sample". You will see lots of sample charts of accounts by business type. Take a look at those and find one that is similar to yours. Then add extra accounts as necessary.

I would add an asset account plus the corresponding Accumulated Depreciation (asset) and Depreciation expense accounts for the horses. You can either do one per horse or total horses and track the individual horses outside of PT. You need to keep track of each horse separately so that you can calculate the depreciation each year. You probably also need asset accounts for the stables and other equipment that they own.

List the typical types of expenses that the business incurrs and make sure they are all covered in the COA.

You can always add new accounts as necessary. At some point in time you can always go in and delete any unused accounts that you have. Don't think of the COA as a permenant set of accounts. It is always being modified.