peachtree-software peachtree complete accounting 7.0 Quick Setup Guide

Before we can begin work on Torrance Country Club, we will purchase a 
building permit from the county licensing board.

An important point here is that you cannot purchase stock items or 
assemblies and apply them against a job. You can, however, apply non-stock, 
labor, or service items to a job. You can also record the purchase without 
using inventory; you would just include a description of the item.

If you need to apply a purchased stock item to a job, you can include it in the 
service you provide through Sales/Invoicing. Another way is to use the 
Inventory Adjustments window to decrease your inventory, and apply the 
adjustment to the job.

The cost of the permit can be charged to the job in one of three ways:

Record the purchase directly as a job expense using inventory. You 
can assign a non-stock or a description-only inventory item to a job 
when you purchase it, but not a stock or assembly item.

Record the purchase directly as a job expense without using 
inventory. You just record the expense by skipping the Item ID field 
and including a description of the expense. This method is best when 
recording time and expense transactions that you purchase on behalf 
of customer jobs.

Record the purchase into Inventory, without entering a Job. When 
you bill the customer, enter the item and the job. Peachtree 
Accounting posts the price as job revenue and the Cost of Goods 
Sold as job expense.

From the Tasks menu, select Purchases/Receive Inventory. Peachtree displays 
the Purchases/Receive Inventory window.

Type GWINLICENSE-01 for the Vendor and press 

e.

Type 888 for the Invoice #. 

Select the Apply to Purchases tab, if it is not already selected, and move to 
the first transaction line. 

Skip the Quantity and Item ID fields to move to the Description field. Type 
License for Torrance Landscape. Then, press 

e. 

Accept account number 69ØØØ for the Licenses Expense G/L account and 
move to the Amount field.