Maintenance of Customer Prospects

How to Maintain Customer Prospects:

·        Open Peachtree software from your desktop icons.

·        A window will appear, displayed by the name “Peachtree Accounting”. Click on “Open an Existing Company”.

·         A window will appear, displayed by the name “Open an Existing Company”. Browse the company whose Customer Prospects you want to maintain and click “Ok”.

·         Your Peachtree Company will be opened. Now click on “Maintain” on the top bar. First option will be “Customer/Prospects…” 

·         A window will appear, displayed by the name “Maintain Customers/Prospects”. Now, here we will enter some necessary information about our customer.

·         The upper portion is known as “Header Field” and the Lower portion of this window is “Tabs”.

       

·         Now will enter the “Customer ID” and “Name” of the customer whom you are selling the goods to. After entering that, if you press “Alt+S,” then a window will appear that will give you a warning.

·         Click “Ok”. And it will directly move to the 2^nd tab, and the cursor will start blinking on the “GL Sales Acct:” Now, here we will enter the General Ledger accounts we have already maintained for our company. Enter the Account ID and then press “Alt+S”, now it will be saved.

·         In the first tab, i.e., “General,” we will enter the contact information of the person we are dealing with. The second option is a Filter, i.e., we can choose different options to filter an address. Like we can enter an address to the “Bill to Address” option or other option, i.e., “ship to Address1 to 9”, and then in the address option, we will enter different addresses, like the address you are sending the invoice to.

·         Sales tax, the last option of the “General” requires different rates for different goods, and these are fixed and assigned by the Government. So here we will enter the tax with a lookup in case it is required.

·         In the “Sales Default” tab, we enter the address of the place where we are shipping and also information about the shipment.

·         In “Payment Defaults,” we enter the details of the person who will receive the shipments and invoice. And we also mention the payment in this tab.

·         In the “Custom Fields” tab, we enter the other information about the customer, and we can change these custom fields. 

·         In the “History” tab, we enter the previous history and transactions of the customer.

·         We can also change the “Custom Fields”. Click on the “Maintain” option and click on “Default Information”, and then select the Sub-option “Customer”.

·         A window will appear with the name “Customer Defaults” with the “Payment Terms” tab opened. In this tab, we select and enter the discount according to the credit term, depending on the option selected.

1.      "C.O.D.": It means Cash on Delivery. We receive the payment at the time we deliver the goods or services to the customer.

2.      Prepaid: In prepaid, we receive the amount of goods before delivering them to the customer.

3.      Due in number of days: In this option, we actually have to mention the days the payment is due within, and we also need to write the credit term and discount.

4.      Due on the day of next month: In this, we select any day of the next month to receive the payments. We can also give a discount on this option.

5.      Due at the end of the month: In this case, the payment is due on the end day of the month goods are sold and the invoice is issued.

In the payment terms, GL sales account, we mention the account in which we are giving a discount. And this should come from the accounts we are maintaining. 

·         In the “Account aging” tab, we select the limit for the payment.

a.      Invoice Date: The due date starts from the date on which the invoice is issued.

b.      Due Date: The date of payment becomes the due date and starts very after the due date passes.

Note: The date should be between the Aging categories, and this software doesn’t allow more than these days and categories.

·         The next tab in this window is “Custom Field”, here you can change the custom field labels that are already provided, and you can enable the 5^th one too, and then click ok to save it.

·         The next tab in this window is “Finance Charges.” If you click on it and enable the Charge Finance Charges, then you can charge some amount of money or a fine to the person who hasn’t paid you on time.  In “On Invoices,” we mention the due time. In “days overdue,” we mention the amount that should be charged. In “Annual Interest rate”, we type the amount in percentage that should be charged on the product. In “Finance Charge GL account,” If we enter the account, the software will set it as a default GL account, but you can change it over there.

·         The last tab is “Pay Methods.” We enter the method of payment here. We can use the already entered methods, or we can enter a new one. And then click on “ok” to save all the settings.