User'sGuideforPeachtreeCompleteAccounting2011

ByCarolYacht

ThePeachtreefilesthatcanbeusedwithCollegeAccounting13/ebyPrice/Haddock/Farinaareshown
below.RefertothischartfortheProblemTemplatefilesnames.Whensavingfiles,refertotheBackup
FilesNames.

Peachtree2011ProblemCorrelationwithCollegeAccounting,13e

Chapter
4

5
6

PeachtreeProblemTemplates
PTBextensions
Problem04.2A.WilsonAdams
Problem04.4A.FarmSupply&Repair
Problem05.4A.PalmerCreativeDesigns
Problem06.1A.EconomicResearchAssociates
Problem06.2A.TheWarriorGroup

MiniPracticeSet1.WellsConsultingServices

11
12
13

Problem07.1A.JaxAppliances
Problem07.2A.Armik'sFurniture
Problem07.4A.SpecialOccasionsFlowerShop
Problem08.1A.QwikPhotoClub
Problem08.3A.TheEnglishGardenShop
Problem08.4A.ProfessionalOfficeProductsCenter
Problem09.1A.MovieCourierService
Problem09.3A.UnlimitedSounds
Problem09.4A.HikerandBikerOutletCenter
Problem11.2A.FronkeConsultingCompany
Problem12.2A.ShawnSmith
Problem13.1A.WoodDesignCompany

Problem13.5A.VaughnCompany

MiniPracticeSet2.TheFashionRack

TOTAL

20ProblemTemplates

BackupFileNames
PTBextensions
Problem04.2A
Problem04.4A
Problem05.4A
Problem06.1A
Problem06.2A.Adjusted
Problem06.2A.Closed
MiniPracticeSet1.January
MiniPracticeSet1.Adjusted
MiniPracticeSet1.Closed
Problem07.1A
Problem07.2A
Problem07.4A
Problem08.1A
Problem08.3A
Problem08.4A
Problem09.1A
Problem09.3A
Problem09.4A
Problem11.2A
Problem12.2A
Problem13.1A
Problem13.5A.Adjusted
Problem13.5A.Reversed
MiniPracticeSet2.October
MiniPracticeSet2.Adjusted
MiniPracticeSet2.Closed
26Backups

TheproblemtemplatefileswerecreatedwithPeachtreeCompleteAccounting2011.Youcanrestore
thesefileswithPeachtreeCompleteAccounting2011orhigher.PeachtreeCompleteAccounting2010
andlowercannotbeusedtorestoretheproblemtemplatefiles.
1User'sGuideforPeachtreeCompleteAccounting2011
TheMcGrawHillCompanies,Inc.

ForeachendofchapterproblemthatcanbeusedwithPeachtree,refertothetextbookwhichincludes
informationaboutthecompany,theproblem'sinstructions,transactions,andanalyzequestion.
PeachtreeCompleteAccounting2011canbeusedwiththeWindows7,VistaSP1,orXPSP3operating
systems.Forcompletesystemrequirementsreferto
http://www.peachtree.com/productsServices/complete/system/.
GLOBALSETTINGSFORPEACHTREECOMPLETEACCOUNTINGSOFTWARE
FollowthesestepstosetPeachtreesGlobalOptions.TheseoptionswillbeineffectforallPeachtree
companies.
1.

StartPeachtree.OpenBellwetherGardenSupply.FromPeachtreesmenubar,selectOptions;
Global.Ifnecessary,selecttheAccountingtab.(Hint:IntheDecimalEntryarea,Manualand2
decimalplacesshouldbeselectedineachfield;theboxesintheHideGeneralLedgerAccounts
areamustbeunchecked;WarnifarecordwaschangedbutnotsavedandRecalculatecash
balanceautomaticallyinReceipts,Payments,andPayrollEntryshouldbechecked.)

2.

ClicktheGeneraltab.Makesureyourscreenmatchestheoneshownbelow.

2User'sGuideforPeachtreeCompleteAccounting2011
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3.
4.

Click
.Theselectionsmadeinglobaloptionsarenowsetforallcompanies.
ClickFile;ExittoexitPeachtree.

RESTORE(OROPEN)APEACHTREEPROBLEMTEMPLATEFILE

UsethefollowinginstructionstostartPeachtreeandrestoretheappropriateproblemfile.Inthisbook
theproblemdataiscalledthePeachtreeProblemTemplates.ThesestepsassumethatPeachtree
CompleteAccounting2011isinstalledonyourcomputer.
1. DoubleclickthePeachtreeicon.YoucanalsostartPeachtreebyclickingStart,AllPrograms,
PeachtreeAccounting2011.Then,selectPeachtreeAccounting2011.(Theseinstructionsare
consistentwithWindows7.IfyouareusingWindowsVistaorXP,yourstepswilldifferslightly.)
Thestartupwindowappears.

Note:Ifacompanyopens,fromthemenubarselectFile;CloseCompany.
2.

Therearefourmenubaroptions:File,Options,Services,andHelp
ClickFile;Restore.TheRestoreWizardSelectBackupFilewindowappears.

3.

Click
.TheOpenBackupFilewindowappears.IntheLookinfield,gotothe
locationofthePeachtreeProblemTemplatefileyouwanttoopen.Doubleclickorclick
.

4. TheSelectBackupFilewindowshowsthelocationofthefileyouwanttoopen.Click
.
TheSelectCompanywidowappears.ClickontheradiobuttonnexttoANewCompany.(These
instructionsassumeyouareopeningthefileforthefirsttime.)

3User'sGuideforPeachtreeCompleteAccounting2011
TheMcGrawHillCompanies,Inc.

WhenyouselectANewCompanytorestore,acompanyfolderissetupinPeachtreeandthe
companynameisshortenedtoeightcharactersorless.Theshortenedcompanynameisaddedto
Peachtreesprogramanddatadirectory.Ifthecompanyhasneverbeenrestored,theshortened
nameforWilsonAdamsiswiladams.
IfWilsonAdamshasalreadybeenrestored,Peachtreechangestheshortenednameofthe
companyandcreatesadifferentcompanyname.Forexample,thecompanysshortenedname
showswiladamt.Noticethatthelastletteroftheshortenednameischanged.Thismeansthat
WilsonAdamswasalreadyrestored.Ifthisisthecase,selectAnExistingCompany,thenclick
.DoubleclickWilsonAdams.AnExistingCompanyisselectedandyourLocationfield
showstheshortenedcompanynamewiladams.Continuewithstep5.

5. Click

.TheRestoreOptionswindowappears.Makesurethattheboxnextto

CompanyDataischecked.Click

6.

TheConfirmationwindowappears.VerifytheFromandTofields.Click
.Whenthe
RestoreCompanyscaleis100%complete,yourdataisrestoredandthetitlebarshowsWilson
AdamsPeachtreeAccounting.

DISPLAYTHECHARTOFACCOUNTS

Toreviewtheaccountsusedforrecordingjournalentries,displaythechartofaccounts.

1.

OnPeachtree'snavigationbar,select
,
,ViewandEdit
Accounts.TheAccountListwindowappears.
2. Afterreviewingtheinformation,click
.

Note:Inordertopostjournalentriestothegeneralledger,Peachtree'schartofaccountsmust
includeaRetainedEarningsaccount.

JOURNALIZEANDPOSTGENERALJOURNALENTRIES

UsethesestepstojournalizeandpostentriesrecordedinPeachtree'sgeneraljournal.

1. OnPeachtree'snavigationbar,select
,linktoGeneralJournalEntry.(Or,
fromthemenubar,clickTasks,thenGeneralJournalEntry.)TheGeneralJournalEntrywindow
appears.
2. TypetheappropriatedateintheDatefield.
3. IntheGLAccountfield,selecttheappropriateaccounttodebit.Typetheaccountname,ora
description,intheDescriptionfield.GototheDebitfield.Typethedebitamount.
4. IntheGLAccountfield,selecttheappropriateaccounttocredit.Ifyoutypedadescription,itis
repeated.Or,typetheaccountname.GototheCreditfield.Typethecreditamount.Pressthe
<Enter>key.TheillustrationbelowshowsProblem4.2A'sOctober1,2013generaljournalentry.
4User'sGuideforPeachtreeCompleteAccounting2011
TheMcGrawHillCompanies,Inc.


5. Click

toposteachgeneraljournalentry.

BACKUP(ORSAVE)AFILE
Whenyoucompletework,usethesestepstobackupafile.

1. FromtheNavigationBar,click
,linktoBackup.TheBackUpCompany
windowappears.MakesuretheIncludecompanynameinthebackupfilenamefieldis
unchecked.)\

5User'sGuideforPeachtreeCompleteAccounting2011
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2. Click
.
3. TheSaveBackupforXXXXXXXXaswindowappears.(SubstitutetheXsforthecompanyname.)
Acceptthedefaultforbackinguporselectanotherlocation.
4. Typeabackupfilename;forexample,Problem04.2A.Refertothechartonpage1forsuggested
backupfilenames.ObservethattheSaveastypefieldshowsthatyouaremakingPeachtree
Backup(*.ptb).
5. Click

.Awindowappearsshowingthesizeofthebackup.

6. Click
.WhentheBackUpCompanyscaleis100%complete,youhavebackedupto
thecurrentpointinthedata.

PRINTINGREPORTS
UsePeachtree'sReports&Formsmenuforprintingthefollowingreports:

Select

GeneralLedger:ChartofAccounts,GeneralJournal,GeneralLedger,GeneralLedgerTrial
Balance
AccountsReceivable:CashReceiptsJournal,SalesJournal,CustomerList,CustomerLedgers
AccountsPayable:CashDisbursementsJournal,PurchaseJournal,VendorList,VendorLedgers
FinancialStatements:<Standard>BalanceSheet,<Standard>IncomeStatement.
toviewthereport.Ifyouwanttoprint,select

INSTRUCTIONSFORINDIVIDUALPROBLEMS
TheseinstructionsandscreenillustrationsareprovidedforjournalizingandpostingselectedCollege
Accounting13/etransactions.

Problem6.1A

TheProblem06.1A.EconomicResourceAssociates.ptbfileincludestheadjustingentries.ForProblem
6.1A,journalizeandposttheclosingentries.

Problem7.1A:CreditSales

FromtheNavigationBar,select
;
,NewSalesInvoice.TheSales
Invoicingwindowappears.IfyoudonothaveanA/RaccountorGLAccountfield,refertoGlobal
SettingsforPeachtreeCompleteAccountingSoftware,page.2.
TheSalesInvoicingwindowshowsProblem7.1A'sJuly1,2013transaction.

6User'sGuideforPeachtreeCompleteAccounting2011
TheMcGrawHillCompanies,Inc.

Click
topost.

Problem7.2A:SalesReturns

FromtheNavigationBar,select
,
,NewCreditMemo.TheCredit
Memoswindowappears.TheCreditMemoswindowshowsProblem7.2A'sFebruary11,2013sales
return.

7User'sGuideforPeachtreeCompleteAccounting2011
TheMcGrawHillCompanies,Inc.

Click
topost.

Problem8.1A:CreditPurchases

FromtheNavigationBar,select
;
,NewBill.The
Purchases/ReceivableInventorywindowappears.IfyoudonothaveanA/RaccountorGLAccountfield,
refertoGlobalSettingsforPeachtreeCompleteAccountingSoftware,page.2.
ThePurchases/ReceiveInventorywindowshowsProblem8.1A'sJune1,2013transaction.

8User'sGuideforPeachtreeCompleteAccounting2011
TheMcGrawHillCompanies,Inc.

Click
topost.

Problem8.1A:PurchaseReturns

Tojournalizeandpostapurchasereturn,fromtheVendors&Purchasespage,select
VendorCreditMemo,theVendorCreditMemoswindowappears.

TheVendorCreditMemoswindowshowsProblem8.1A'sJune18,2013transaction.

9User'sGuideforPeachtreeCompleteAccounting2011
TheMcGrawHillCompanies,Inc.

,New

Click
topost.

Problem9.1A:Receivepaymentfromcustomeronaccount

Tojournalizeandpostacustomerpayment,select
,
,ReceiveMoney
fromCustomer.

TheReceiptswindowshowswindowshowsProblem9.1A'sFebruary3,2013transaction.Usethe
transactiondateintheDepositIDfield.

10User'sGuideforPeachtreeCompleteAccounting2011
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Click
topost.

FortheFebruary3transaction,intheGLAccountfield,selectAccount129,Supplies.

Problem9.1A:CashSales

FortheFebruary7cashsalestransaction,refertotheReceiptswindow.

11User'sGuideforPeachtreeCompleteAccounting2011
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Problem9.3A:PromissoryNote

RefertotheReceiptswindowfortheApril23,2013promissorynote.ObservethattheCashaccount
fieldischangedtoAccountNo.109,NotesReceivable.Thedistributionofthistransactionis:

AccountNumber
AccountName
Debit
Credit
109
NotesReceivable
5,500.00
111
AccountsReceivable/CountryMusic

Store
5,500

12User'sGuideforPeachtreeCompleteAccounting2011
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Whenthescreenprompts"Youhaveselectedanaccountwithanaccounttypethatsnottypicallyused
fortheCashaccount.",click<Yes>.RemembertochangetheCashAccountfieldtoAccountNo.101,
Cash,forthesubsequenttransactions.

Problem9.4A:Expensespaid

FromtheNavigationBar,select
appears.TheJune1,2013transactionisshown.

,PayBill.ThePaymentswindow

13User'sGuideforPeachtreeCompleteAccounting2011
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Problem9.4A:VendorPayment

UsethePaymentswindow,toissueacheckforavendorpayment.ThePaymentswindowfortheJune7,
2013transactionisshown.

14User'sGuideforPeachtreeCompleteAccounting2011
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Problem9.4A:NotesPayable

UsetheGeneralJournalfortheJune21,2013transaction.

15User'sGuideforPeachtreeCompleteAccounting2011
TheMcGrawHillCompanies,Inc.

Problem11.2A

PrinttheGeneralJournalfromApril8,2013toJune17,2013.(Reports&Forms,GeneralLedger,
GeneralJournal,

Problem13.1A

ThetextbookincomestatementisorganizedintomoresectionsthanPeachtrees<Standard>Income
Stmnt.ObservethatPeachtreesincomestatementincludescategoriesforRevenues;CostofSales;and
Expenses.
PeachtreesincomestatementincludesCurrentMonthandYeartoDatecolumnsaswellaspercentages
foreachitem.Theseresultsarederivedbydividingindividualamountsbytotalrevenues;forexample,
757,000/1,650,164=45.87percent(PurchasesdividedbyTotalRevenues).
AnotherdifferenceisthewaythetextbookcomputesCostofGoodsSold.Peachtreesincomestatement
doesnotincludebeginningandendinginventory.Peachtreesincomestatementreportsrevenuesand
expensesonlyMerchandiseInventoryisanassetandisreportedontheBalanceSheet.Forthat
reason,Peachtreesincomestatementreports$176,424astheNetIncome,whichis$10,000morethan
thetextbook.ThetextbooksworksheetshowsadebitandcreditintheIncomeSummaryaccount.The
differenceis$10,000,whichisalsothedifferenceintheNetIncomereportedbyPeachtree.

IncomeSummary,AccountNo.399
234,000
224,000

Difference10,000
234,000
234,000

$176,424(Peachtreesnetincome)
10,000
$166,424(NetincomefortheYear)

ThenetincomereportedonPeachtree'sIncomeStatementagreeswiththenetincomeonthebalance
sheet.

Onthebalancesheet,theCapitalsectionshowsabalanceforIncomeSummary($147,559
10,000=$137,559).ThedetailonPeachtree'sbalancesheetcanbeusedforthestatementofowner's
equity.
16User'sGuideforPeachtreeCompleteAccounting2011
TheMcGrawHillCompanies,Inc.

MiniPracticeSet2:TheFashionRack

1. Foradjustmentf.g.,journalizeandposttheentryshownbelow.Refertostep3belowforan
explanation.

AccountNo.
Description
Debit
Credit
399
IncomeSummary
8,596.00

121
MerchandiseInventory
8,596.00

2. Printtheadjustedtrialbalance.
3. Printtheincomestatementandbalancesheet.OnPeachtree'sincomestatement,beginningand
endingmerchandiseinventoryisnotshown.Merchandiseinventoryisanassetandisreportedon
thebalancesheet.OnPeachtree'sincomestatement,NetIncomeis$26,324.30.Thisdifference
occursbecauseMerchandiseInventoryisnotshownonPeachtree'sincomestatement.The
textbookorWorkingPapersreports$17,728.30asthenetincome.

Peachtree'snetincome
26,324.30
Textbook/WorkingPapersnetincome
17,728.30
Difference

$8,596.00

October1MerchandiseInventory88,996.00
October31MerchandiseInventory
80,400.00
Difference

$8,596.00

4. Backup.ThesuggestedfilenameisMiniPracticeSet2.Adjusted.
5. Journalizeandposttheclosingentries.RefertoPeachtree'sadjustedtrialbalanceandincome
statementtocompleteclosingentries.(Hint:RemembertoclosetheNetIncomereportedon
Peachtree'sincomestatement.ClosethebalanceinAccountNo.399,IncomeSummary,to
AccountNo.301,TeresaLojayCapital.Thisclosingentryisshownbelow.)

AccountNo.
Description
Debit
Credit
301
TeresaLojay,Capital
8,596.00

399
IncomeSummary
8,596.00

17User'sGuideforPeachtreeCompleteAccounting2011
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