Peachtree: Maintain Vendor Default Information

Peach-tree: Maintain Vendor Default Information

After maintain vendor we maintain vendor default information. In which we set

Ø  Payments terms

Ø  Discount period

Ø  Credit limit of particular customer etc.

Following procedure will be follow.

Step No. 1

Open Peach-tree go to maintain menu click on the default information sub menu appear then click on vendor following window will appear.

    

There are five radio button.

1.    Payment terms.

C.O.D

It means cash receive when goods are deliver.

Prepaid

It means customer made advance payment before receiving goods.

Due in number of days

It means you deliver the goods to customer but he will pay within some days. you also mention day of payments. And the discount you giving him on payments within days.

Due on days of next month

It means the payment days is due on any day of next month that you selected.

Due at the end of month

It means the payment is due at the end of on going month.

2.    Account aging tab.

User can age the receivable either from the invoice or from due date.

Age Invoices by:

If age invoices by “Invoice date” then aging calculation will be made from invoice issuing date and if age is invoiced by the “Due date” then aging calculation will be made from the due date of the payment from customers.

Aging categories:

 There are different categories you can select the categories according to the agreement.

3.    Custom fields.

  User field use to enter some extra information about the vendor. Change the name of the vendor etc. the enable box must be checked for text to be entered.

4.    1099 Settings.

1099 setting tab is used to determine how the software will calculate each account created in the chart of accounts of company.