peachtree-software peachtree complete accounting 7.0 Quick Setup Guide
Converting Quicken Data to Peachtree Accounting
Getting Started Guide
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Setting Up Necessary Accounts
Because Peachtree Accounting uses a full chart of accounts, there are some
accounts you must set up that you may not have set up in Quicken. The
accounts required to use each of these features in Peachtree Accounting are
shown in the following table:
accounts you must set up that you may not have set up in Quicken. The
accounts required to use each of these features in Peachtree Accounting are
shown in the following table:
All of these accounts must be set up in your chart of accounts (COA).
Additionally, some of the accounts must be set up as defaults (DEF). Refer to
the list to see which accounts must be set up as defaults. Follow these steps to
set up the necessary accounts.
Additionally, some of the accounts must be set up as defaults (DEF). Refer to
the list to see which accounts must be set up as defaults. Follow these steps to
set up the necessary accounts.
Feature
Account Description
COA
DEF
Customers
Accounts Receivable (accrual method)
Cash Received
Discounts Allowed
Sales Tax Payable
Interest Income from finance charges
Cash Received
Discounts Allowed
Sales Tax Payable
Interest Income from finance charges
✓
✓
✓
✓
✓
✓
✓
✓
✓
✓
✓
Vendors
Accounts Payable (accrual method)
Cash Disbursed
Discounts Taken
Cash Disbursed
Discounts Taken
✓
✓
✓
✓
✓
✓
Employees
Cash Account
Gross Pay Account
Tax Liability Account
Tax Expense Account
Gross Pay Account
Tax Liability Account
Tax Expense Account
✓
✓
✓
✓
✓
✓
✓
✓
✓
✓
✓
✓
General Ledger
Retained Earnings
Rounding (if desired)
Rounding (if desired)
✓
✓
✓
✓
Inventory
Inventory Sales Revenue
Inventory
Cost of Sales
Inventory
Cost of Sales
✓
✓
✓
✓
✓