Peachtree Journal Entries

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Peachtreesoftware is a mainstream system used by small-business owners to perform simple accounting tasks. A journal entry must be made each time your business earns income, incurs expenses, acquires assets or generates liabilities. Your entries may affect one or several of your company's financial statements. Your business may have several activities each day that require a journal entry to be made.

Click the magnifying glass icon by the "Account Number" field. Select the account you want to debit. Accounting debits work differently from common-use debits. Your journal entry debit increases the value of the account you select.

With a background in taxation and financial consulting, Alia Nikolakopulos has over a decade of experience resolving tax and finance issues. She is an IRS Enrolled Agent and has been a writer for these topics since 2010. Nikolakopulos is pursuing Bachelor of Science in accounting at the Metropolitan State University of Denver.

While many transaction types can be entered into specialized windows in Peachtree, there will always be a need to have a general journal to be able to record entries that do not fit into specialized fields. Such entries include infrequent transaction types as well as adjusting entries. This topic shows you how to use the General Journal Entry window to record an entry into the general journal in Peachtree.

This opens the General Journal Entry window where you can enter the details of the journal entry into Peachtree. The following screenshot and reference table show step-by-step instructions on how to enter information into the General Journal Entry window in Peachtree. Note that each step is assigned a reference number to help you identify the appropriate field or icon in the screenshot of the General Journal Entry window.

Remember, all other transaction types should be recorded in their appropriate window. This is because these other windows are designed to record the details relating to the specific customer, vendor or inventory item used in the transaction. These details are not able to be captured in the general journal, so are unable to be tracked if the transaction is recorded in the general journal.

My question is this: How do I get the recorded entries into the Journal? I entered everything in manually, through Expense entry and where ever else I could figure to get the data stored. I have seen the error of my ways and would like to know how I can get everything in to the journal. Is it too late for that? Is it necessary to do that?

You can open the Expense transaction and check the Transaction Journal to check the affected accounts. It displays the information for the current transaction you open including the accounts affected by the assembly. The entries displayed on the report determine the posting of the transaction for auditing and report purposes.

I'm not sure if I should just pick up the journal entries from this point forward, or if I need the prior entries. I want to have all of the entries in the Journal, if possible. I want to know if I could get all of the existing data to the Journal by some means.

This is great, going forward. It is what I found out yesterday. I'm hoping to get the data that I've already entered by the manual expense entries into the Journal. How may I accomplish this? And, is it necessary to do so, or just start Journaling from this point forward.

I think I'm misstating the issue. I have a new business that started in May of this year. I entered all expenses, since then, into QuickBooks. But, I did not enter them in via Journal Entry. I've learned that's not the proper way to enter transactions. So, I am wondering if I need to log all of those transactions in the Journal manually, or will QuickBooks pull that data by some function. Also, whether I need to have journal entries for the previous days, back to May, or should I just go forth and do better.

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While you can't change the column headings, you can change the order of the columns. For example, if you don't use analysis types or need to enter exchange rates, you can move those columns to the end. This makes it easier to enter only the data you need to create the journal entries.

When preparing your file, use the table below to ensure that your file format is correct. Remember that the header row in your CSV file must use the same headings as shown in the Field name column below.

When preparing your file, list all lines you want in one journal under the same reference number. Fill in columns A, B, and C once, and then list the details of each individual line in the remaining columns. The Debit and Credit amounts (columns J and K) for each line in the journal must match (or balance to zero).

Yes. By default, Peachtree automatically formats the information you enter when you type in an amount or other numeric field. You can choose Global from the Options menu and change the Decimal Entry setting to manual or automatic, or increase/decrease the number of decimal places.

As you type in an Account field, Peachtree will show the accounts in a drop-down list and will automatically attempt to complete the field for you. Choose Global from the Options menu, and change the Smart Data Entry options on the General tab to enable/disable these features.

Yes. You can activate the Use Audit Trail option by clicking this box on the Maintain Company Information window by using Maintain> Company Information. Peachtree will provide you with information, such as date and time, amount, transaction ID and reference, window name, action, and user ID.

You can easily hide or enable the Navigation Aid. Pull down the Options menu and choose View Navigation Aid. When the check box next to this menu item is checked, the Navigation Aid will appear on your screen.

Using the Chart of Accounts option in the Maintain menu, enter the general ledger account number, and press Enter. When the account appears, move to the Description field to change the account name. Click the Account Type drop-down list to change the account type. To delete an account, select it and then click the Delete button. If Peachtree will not allow you to delete the account because it has transactions posted, you can make the account inactive by clicking the Inactive box on the Maintain Chart of Accounts window.

You can edit/delete a general journal entry at any time unless you have closed the current period. To make a change, choose the General Journal Entry option from the Tasks menu. Click the Open button and select the entry you want to update. Make the changes and post the corrected transaction. Peachtree automatically applies the corrections. To delete an entry, click the Delete button when the transaction is displayed in the General Journal Entry window.

Peachtree shows only the transactions entered in the current period. Suppose the current period is 12 June 2010 and you enter a transaction dated May 15. If you choose to edit a record, this transaction would not appear in the list. Click the Show button in the Select General Journal Entry window and choose All Transactions, or select the desired period to display the transactions.

If you enter the wrong information for a sales invoice, you can correct it even if you have already posted the transaction. Choose the Sales/Invoicing option and click the Open button. Select the invoice (sales slip) you want to change. When the invoice appears in the Sales/Invoicing data entry window, make the necessary corrections and then post the updated transaction.

You can change any information on a cash receipt, unless you have closed the current period. To make a change, choose the Receipts option. Click the Open button and select the receipt you want to update. Make the changes and post the corrected transaction. Peachtree automatically applies the corrections.

Peachtree lets you hide the general ledger fields in the data entry windows. However, you will need to enter information in these fields to record certain kinds of transactions. To display the general ledger account fields, choose Global from the Options menu. Change the settings to show the general ledger accounts. Note: If the Sales/Invoicing or Receipts window is open, you must close the window and then choose the task option again before the new setting will take effect.

No. The information shown in the Accounting Behind the Screens window is provided so that you can review the accounts affected by a transaction. You can skip this step if you do not want to see this information.

To reinstate an account previously written off, choose the Sales/Invoicing option. Enter a new invoice for the customer. You can use the memo number (e.g., M1016) for the invoice number. Enter the Allowance for Uncollectible AccountsGL Account number on the Apply to Sales tab in place of the SalesGL Account number. Record the amount of the invoice. (Remember, you can use the Accounting Behind the Screens window to verify the transaction.) Post the transaction and then use the Receipts option to pay the invoice.

If you enter the wrong information for a purchase invoice, you can correct it even if you have already posted the transaction. Choose the Purchases/Receive Inventory option and click the Open button. Select the invoice you want to change. When the invoice appears in the data entry window, make the necessary corrections and then post the updated transaction.

You can change any information on a cash payment, unless you have closed the current period. To make a change, choose the Payments option from the Tasks menu. Click the Open button and select the payment you want to update. Make the changes and post the corrected transaction. Peachtree automatically applies the corrections.

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