Skip to main content

INTRODUCTION TO USE OF PEACHTREE

PEACH TREE ACCOUNTING

Peach tree now called Sage 50 is one of the most widely used accounting package.  It is easy to use and can be effectively used by both small and medium scale business enterprise.

This site is created to help train people for free how to use  the Peach tree Accounting Package.

This site will be beneficial to

  • Accounting graduates,
  • Accounting students,
  • Managers
  • Sole proprietors etc.
It is going to be very simple such that both accountants and other users will be able to carry out accounting activities on Peach tree.

WHAT PEACH TREE CAN DO FOR YOUR ACCOUNTING DEPARTMENT


Peach tree accounting package can be used to achieve the following:

  • Post accounting transactions relating to customers,
  • Post accounting transactions relating to suppliers,
  • Post accounting transactions relating to income, expenses, liabilities and assets.
  • Carry out auditing activities
  • Prepare Trial Balance, Trading Profit and Loss Account, Balance Sheet etc,
  • Post accounting transactions relating to employees
  • Post transactions relating to stocks
  • Post transactions for contracts and project.
  • It can be used to carry out financial analyses
  • It can be used to do bank reconciliation etc

Comments

Popular posts from this blog

UNDERSTANDING THE SAGE 50 (PEACH TREE) MENUS

UNDERSTANDING THE  PEACH TREE  ENVIRONMENT It is pertinent to understand the items in the menu bar and what you can achieve with them.   THE DIFFERENT MENUS IN  PEACH TREE  AND THEIR FUNCTIONS : FILE MENU S/N SUB MENUS OF THE FILE MENU FUNCTIONS 1 OPEN COMPANY Enables the creation of a new company 2 OPEN PREVIOUS COMPANY Enables you choose a company from the list of companies opened 3 NEW COMPANY Also enables creation of new company 4. CLOSE COMPANY Enables the closure of an opened company 5. SET UP GUIDE A step by step assistance in entering the information needed to set up your company 6. PRINT PREVIEW Enables the preview of what is to be printed 7. PRINT Enables you to have a hard copy of reports and forms 8...
LEARNING HOW TO SET UP CHARTS OF ACCOUNTS IN PEACH TREE (SAGE 50) BELOW IS THE DIAGRAMMATIC REPRESENTATION THE DIAGRAM ABOVE IS EXPLAINED THUS: The chart of accounts of an organization is the various ledgers created to capture accounting transactions as it relates to assets, liabilities, incomes, expenses and equity.   It enables easy classification of transactions under accounting heads to help in proper reporting.  An example of setting up a chart of accounts is creating an expense account called Diesel Account for capturing all diesel expenses of a company. The process is below:                      1.     CLICK Maintain Menu 2.     CHOOSE Chart of Accounts 3.     TYPE the Account ID (You can use the drop-down list to help create number for your account type: For instance, Account ID for ex...
ACCOUNTING SYSTEM SET UP MASTERY SKILLS Every professional accountant must be able to set up an accounting system for different types of business. WHAT IS ACCOUNTING SYSTEM? This is the act of recording business transactions in a systematic manner, analyzing what is recorded and bringing out reports that will help businesses make useful business decisions and planning.  Accounting system can be manual or computerized.  Due to the overwhelming advantage of computerized systems, it is advised that accounting systems should be computerized and cloud based.  The cloud-based feature helps not to lose your document even if you lose your system. ACCOUNTING SYSTEM INVOLVES THE FOLLOWING:  CREATION OF RELEVANT BOOKS OF ACCOUNTS :  these books of accounts include invoice, receipts, stock card, payslip,, payment voucher etc CREATION OF RELEVANT ACCOUNTS FOR REPORTING:  The following accounts can be created; petty cash schedule, cash book schedule, fixed asset schedul...