peachtree-software peachtree complete accounting 7.0 Quick Setup Guide

QuickBooks allows you to set up a list of terms. When setting up customers, 
you can select any one of the terms from the list. Peachtree sets up a single set 
of “standard terms” in Customer Defaults. Then, when setting up a customer, 
you choose whether or not the customer uses standard terms. All QuickBooks 
customers are converted as using non-standard terms, with each set of unique 
terms based on the terms listed in QuickBooks. 

After the conversion is complete, you need to set up standard terms for 
customers in Customer Defaults.

Each customer is assigned a default sales tax code. Peachtree will select the 
sales tax code that matches the tax item listed in the QuickBooks customer 
record. For more information on what sales tax information is converted, see 

.

In QuickBooks, jobs are a subset of the customer list. In Peachtree Accounting 
jobs are maintained as a separate list. For more information on jobs, see 

.

Peachtree converts the open balance (the sum of all outstanding invoices) as 
the customer’s beginning balance. This beginning balance is entered as of the 
day before the first period you chose to enter data during the conversion 
process. When you receive payment from a customer, you can enter it against 
the beginning balance total.

If a customer has a job associated with it, then the job’s open balance is 
converted as a separate beginning balance. See also, 

.

 

Each customer will have its own beginning balance.

Note