“Maintain default information of customer-Peachtree”

“Maintain default information of customer-Peachtree”

First go to the main menu of Peachtree software and click on the maintain menu in the top of menu bar and then select default information as you can see in the image below:

Now select the customers, from the side bar and click on it, the following window will appear when you click on the customers:

Now go to the first tab in the window which is of “payment terms”, there you will see the following terms written:

v C.O.D (Cash on delivery).

v If you receive the payment or cash exact on delivery time then choose this option.

v The next terms is “prepaid”, if you received the payment in advance then select this option.

v Next term is “due in number of days” when you click on this option, the following points will appear as shown in the figure below:
Following are mentioned the options for “due in number of days”,

:

v Net due in:  Here you select the due time for payment.

v Discount in:  Here you will write the no. of days, and if customer will make the payment within written days you will give the customers discount. You may also regret this option.

v Discount:  here the rate of discount will be mention.

v Credit limit:  Here you will mention credit limit, if amount of credit exceeds you will receive a warning message. It helps you memorize about your creditors.

The next standard term is “due on day of next month”, if you want to linger on the amount on any other day of next month then choose this term and mention the day on which you want to collect the amount, as you can see in the following window:

v The next standard term is “due at end of month”, if you want to collect the amount at the end of a specific month in which you making sales then choose this option.

The next tab is of “account aging” when you click on this option the following screen will appear:

Account aging means to make provision for bad debts.

v If you want to age accounts by invoice date, then choose the option “invoice date”.

v If you want to age accounts by due date, then choose the option “due date”.

The next tab is “custom fields”, when you click on this tab the following screen will appear:

In the custom fields there is some information which you can make enable or disable by clicking on the check box.

The next option is “finance charges” when you click on this tab the following window will appear:

There are following options in this tab:

v Charge finance charges: if you want to charge finance charges then click on check box and make it “enable”.

v On invoices: here you will provide the grace days.

v Day’s overdue, up to: here you will mention the amount on which you are charging interest.

v Annual interest rate: The annual interest rate will be mentioned.

v On balances above that: the balances if exceed over then you will provide the rate of interest in this empty field.

v Minimum finance charge: here you will mention the minimal interest rate.

v Charge interest on finance charge: if the customer does’ not pay interest charges and you are willing to re-charge interest on the total sum, and then click on following option.