PT 2005 - entering Vendors and Invoices - want to keep this new job

[Marie611]

Hi, thanks for letting me join in.

I started a bookkeeping position with a small outfit and there is no one to give me hands on assistance. I spent 3 hours on the tutorial. I was able, by the end of the first day, to apply payment to 5 checks paid as the invoices had already been entered to the system by the previous bookkeeper.

Now, it's my turn to enter a vendor invoice and after going back to the Turtorial several times, I'm still unable to do it. It's a basic PT operation and I cannot figure it out.

I also need to edit the previous bookeepers' entries and add a new vendor (i.e. Verizon). Is there anywhere I can look for answers to these very basic questions? My only software experience is Elite accounting software.
Many thanks. I hope someone sees this by 9:00 am tomorrow as Friday will be my second day.
Sorry this is so long.
Marie

[rick Prindivill]

To enter a Vendor Invoice, click on TASKS and PURCHASE/RECEIVE or BILLS (Peachtree 2006). Lookup the Vendor by clicking on the magnifying glass or with your mouse pointer in the Vendor ID window, right clicking will bring up a listing of vendors. Then enter data by starting from the top left of the screen and pressing ENTER or TAB, letting the program move the cursor from field to field in the order that it want you to go. Later, when you have some experience you will find that you can skip certain fields. When finished entering the Vendor Invoice, click on SAVE

You can setup a new Vendor by clicking on MAINTAIN, Vendors. Enter a new Vendor ID (1 to 20 characters), and then add the Vendor name etc. Check the setting on the GENERAL Tab and the PURCHASE Tab etc. and then click on SAVE.

You can enter a new vendor on the fly. When you enter a Vendor Invoice, and enter a new Vendor ID, the program will flash a blue Vendor ID a couple of times, but willl allow you to continue to enter the Vendor Name, Addresss, Invoice Number etc. When you click on SAVE the program will ask if you want to do a quick Vendor ADD, where the system will setup a new Vendor file based on the limited information entered on the invoice screen. Later, you can go to Maintain Vendors and edit the record to add additional information etc.

To see previous entries. go to TASKS, and PURCHASE/RECEIVE. With the Vendor Invoice screen open, click on the OPEN icon at the top of the screen. Look at the top of this screen to the right, select the accounting period that you want to see and then look to the same area but this time to the left and you will see a SORT criteria along with a drop down menu, that will give you choices.
Once you find the entry that you want to view or possibly edit, double click on the entry or if you prefer, click on the entry once and then click on OK. This will bring the transaction back to the screen.

Hope that I have addressed your concerns consistent with what you were expecting.

[Marie611]

Thank you ever so much Rick. You have addressed my queries. I'm very grateful and I'm off to work and will let you know how I get on.

I'm going to buy Peachtree for Dummies as well. I'm operating on PT 2005 (which I understand is an upgrade to PT 8?, further to the research I did on this forum last night).

Many, many thanks!
Marie

[rick Prindivill]

Peachtree Version 2005 is also known (internally) as Peachtree Version 12.0. So your program is 4 generations newer than Peachtree Version 8.0.

[Marie611]

Rick,

Thank you, thank you, thank you. Your directions were dead on. I never even opened the PT for Dummies Book! I breezed through the 12 hour day! I cannot ever thank you enough. You saved me at least 6 hours and for that I'm ever grateful as it's a part-time job (I'm raising a little girl).

I managed to void a check easily. My next task, once I catch up on the previous bookkeepers' untouched work of 1 year or so LOL, is to do bank reconiliations. Do you think I'll manage it easily enough? I hope so.

The drawback at this position is that they still manually cut checks, which I find to be time consuming. I wonder how difficult it would be to generate computer checks. I would assume I need checks and a printer. I've been out of the job market for 3 years. Currently, I'm adding invoices to the system, paying them and then applying payment (check number, etc.). Next week I need to learn Receipts/Deposits, but I am assuming that the book will guide me easily.

Thanks for you insight on PT 2005 being referred to as PT 12, good to know.

I'll be lurking on this site often, but apart from asking questions (post research), I doubt I'll have much to contribute - it looks to me like it takes a few months to be proficient at a bookkeeper level, never mind Financial Reporting ;)

Many, many thanks. I was so pleased to see your reply today. There are many wonderful people in this world.

[CATCHCLAW]

If they don't already have computer checks and are willing to shell out about $85 (Viking) for them, it's worth it!

We use generic checks so we can use both for payroll and accounts payroll. Go ahead and buy some that are designed "for peachtree" so you don't have alot of formatting to mess with.

When you do checks manually, then enter them, there's additional room for error - transposing, etc. When you print them from the computer, that's it. What you print and give out to whoever is what the check was written for. This makes reconciling much easier and removes that one chance for error.

Payroll subscriptions have to be bought ever year at about $200, unless you want to tackle manually entering the tax data. It's easier and worth the cost if there's money for it to buy the subscription.

After that, it's a matter of entering employees and their pay rates and w4 info. Once is all you have to do that part.

Then decide whether there is a need costing or if all payroll is costed the same. If you want your payroll allocated to various projects or jobs, you'll want to set up the time ticket based payroll. If everyone is paid the same rate and the payroll is not really allocated like that, then just hourly or salary is the way to do it, and it's really quite simple.

As to looking at the previous bookkeeper entries, you might consider running a "purchase journal, cash disbursements journal, general journal, cash receipts journal, or sales journal", etc., type reports for a period to see how she posted things. Depending on what type of insight you're looking for. Those types of reports show the whole transaction and what gl accounts they hit. Well, that portion, anyway. To see the whole sales flow, for instance, you would do a sales journal to see how the invoice posted, and a cash receipts journal to see how the payment was done.

And don't forget paper, pen & Mr. T! lol If you don't know what I'm talking about, try to find a book on beginning accounting - or maybe the accounting primer that comes with peachtree. Sometimes putting a transaction on paper with good old fashioned "T accounts" is the easiest way to figure out what's going on behind the screens.