The help file says to setup credit card accounts as Accounts Payable. I've done that. But then it says to choose the cash account when making payments. I chose make Payments from the main menu and can't get it to display a credit card choice because the credit card account is a payable, not a cash account. What is the way to work around this and be able to choose a credit card account?
Bob
If you have never accessed the payments screen you will get a list of cash accounts to pick from. Once you have picked a cash account and the actual payments screen appears you will see a cash account drop down that lists all of the accounts in your chart of accounts.
OK, thanks. I notice it has a place for items and they can be charged to inventory. If I enter all of the individual items here, are those items automatically entered into inventory or do I need to do payment as one step and then go somewhere else to enter the items into inventory? Guess you can tell I'm somewhat new at this.
Bob
To enter items into inventory you will need to fill out the Payments screen or the Purchase/Receive Inventory screens under Tasks with the the item ids, quantities and unit prices. If you fill out the Purchase/Receive Inventory screen the the totals will become open payables (Reports | Accounts Payable | Aged Payables) that can be marked paid by checking the appropriate lines on the Apply to Invoices tab of Tasks | Payments after selecting the appropriate vendor.
Use the Purchase Orders screen under tasks to enter items into inventory that you have ordered, but have not yet been billed for. When you pull up the appropriate vendor under Purchases/Receive Inventory the open purchase orders will appear so you can receive against them.
Use Sales/Invoicing under Tasks to take items out of inventory and create open receivables (Reports | Accounts Receivable | Aged Receivables). Use the options under Quotes/Sales Orders under Tasks when you need to provide a quote or remove items from inventory prior to billing a customer. When you pull up the appropriate customer under Sales/Invoices any open sales orders which may contain information from a quote will appear so you can issue an invoice for the ordered goods.
If in taking a physical inventory you find that because of spoilage, damage, theft or other reasons your Peachtree inventory quantities on hand do not match your actual quantities on hand use Inventory Adjustments under Tasks to adjust them.
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