Peachtree 2010 Family of Products: Frequently Asked Questions about Reports
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Support Question: Frequently Asked Questions about Reports
Support for Peachtree Family of Products Peachtree 2011 Family of Products Peachtree by Sage Quantum 2011 Reports & Forms Peachtree by Sage Premium Accounting Reports & Forms Peachtree Premium Acctg Accountants Edn Reports & Forms Peachtree Premium Acctg / Construction Reports & Forms Peachtree Premium Acctg / Distribution Reports & Forms Peachtree Premium Acctg / Manufacturing Reports & Forms Peachtree Premium Acctg / NonProfit Reports & Forms Peachtree Complete Accounting Reports & Forms Peachtree by Sage Pro Accounting Reports & Forms Peachtree First Accounting Reports & Forms Peachtree 2010 Family of Products Peachtree by Sage Quantum 2010 Reports & Forms Peachtree by Sage Premium Accounting Reports & Forms Peachtree Premium Acctg Accountants Edn Reports & Forms Peachtree Premium Acctg / Construction Reports & Forms Peachtree Premium Acctg / Distribution Reports & Forms Peachtree Premium Acctg / Manufacturing Reports & Forms Peachtree Premium Acctg / NonProfit Reports & Forms Peachtree Complete Accounting Reports & Forms Peachtree by Sage Pro Accounting Reports & Forms Peachtree First Accounting Reports & Forms Peachtree 2009 Family of Products Peachtree by Sage Quantum 2009 Reports & Forms Peachtree by Sage Premium Accounting Reports & Forms Peachtree Premium Acctg Accountants Edn Reports & Forms Peachtree Premium Acctg / Construction Reports & Forms Peachtree Premium Acctg / Distribution Reports & Forms Peachtree Premium Acctg / Manufacturing Reports & Forms Peachtree Premium Acctg / NonProfit Reports & Forms Peachtree Complete Accounting Reports & Forms Peachtree by Sage Pro Accounting Reports & Forms Peachtree First Accounting Reports & Forms Peachtree 2008 Family of Products Peachtree by Sage Quantum 2008 Reports & Forms Peachtree by Sage Premium Accounting Reports & Forms Peachtree Premium Acctg Accountants Edn Reports & Forms Peachtree Premium Acctg / Construction Reports & Forms Peachtree Premium Acctg / Distribution Reports & Forms Peachtree Premium Acctg / Manufacturing Reports & Forms Peachtree Premium Acctg / NonProfit Reports & Forms Peachtree Complete Accounting Reports & Forms Peachtree by Sage Pro Accounting Reports & Forms Peachtree First Accounting Reports Peachtree 2007 Family of Products Peachtree by Sage Quantum 2007 Reports Accounts Payable Accounts Receivable Account Reconciliation Company Crystal Reports for Peachtree Daily Register Financial Statements General Ledger Internal Accounting Review Inventory Jobs Payroll Time/Expense Write Letters Peachtree by Sage Premium Accounting Reports Accounts Payable Accounts Receivable Account Reconciliation Company Crystal Reports for Peachtree Daily Register Financial Statements General Ledger Internal Accounting Review Inventory Jobs Payroll Time & Expense Write Letters Peachtree Premium Acctg Accountants Edn Reports Accounts Payable Accounts Receivable Account Reconciliation Company Crystal Reports for Peachtree Daily Register Financial Statements General Ledger Internal Accounting Review Inventory Jobs Payroll Time & Expense Write Letters Peachtree Premium Acctg / Construction Reports Accounts Payable Accounts Receivable Account Reconciliation Company Crystal Reports for Peachtree Daily Register Financial Statements General Ledger Internal Accounting Review Inventory Jobs Payroll Time & Expense Write Letters Peachtree Premium Acctg / Distribution Reports Accounts Payable Accounts Receivable Account Reconciliation Company Crystal Reports for Peachtree Daily Register Financial Statements General Ledger Internal Accounting Review Inventory Jobs Payroll Time & Expense Write Letters Peachtree Premium Acctg / Manufacturing Reports Accounts Payable Accounts Receivable Account Reconciliation Company Crystal Reports for Peachtree Daily Register Financial Statements General Ledger Internal Accounting Review Inventory Jobs Payroll Time & Expense Write Letters Peachtree Premium Acctg / NonProfit Reports Accounts Payable Accounts Receivable Account Reconciliation Company Crystal Reports for Peachtree Daily Register Financial Statements General Ledger Internal Accounting Review Inventory Jobs Payroll Time & Expense Write Letters Peachtree Complete Accounting Reports Accounts Payable Accounts Receivable Account Reconciliation Company Crystal Reports for Peachtree Daily Register Financial Statements General Ledger Internal Accounting Review Inventory Jobs Payroll Time & Expense Write Letters Peachtree by Sage Pro Accounting Reports Accounts Payable Accounts Receivable Account Reconciliation Company Crystal Reports for Peachtree Daily Register Financial Statements General Ledger Internal Accounting Review Inventory Jobs Payroll Write Letters Peachtree First Accounting Reports Accounts Payable Accounts Receivable Account Reconciliation Daily Register Financial Statements General Ledger Peachtree (pre-2007) Premium Accounting Reports Peachtree (pre-2007) Accountants Edition Reports Peachtree (pre-2007) for Construction Reports Peachtree (pre-2007) for Distribution Reports Peachtree (pre-2007) for Manufacturing Reports Peachtree (pre-2007) for NonProfit Reports Peachtree (pre-2007) Complete Accounting Reports Peachtree (pre-2007) Accounting Reports Peachtree (pre-2007) First Accounting Reports*
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How to use the reports
The reports inside the Peachtree program are designed to show balances and multiple entry overviews. The purpose of these reports is to help you manage your business by providing information concerning its financial transactions and state in a variety of ways. Comparing and auditing these reports is sometimes a tricky process. This document is to help you understand which reports match others and to allow you to use them more fully.My Reports don’t match. Why?Some common reasons reports don’t match:Some reports aren’t designed to match. For example, the Aged Receivables and Aged Payables reports shouldn’t match; they’re reporting on different information. Other reports may seem to be reporting the same information, but are not. A good example is the Taxable/Exempt Report and the Sales Journal.General journal entries impact the general ledger directly. If you create a general journal entry that affects the accounts receivable or accounts payable accounts, those entries will not change the records of individual customers or vendors. This will cause the customer or vendor ledgers to differ from the amounts in the general ledger.Incorrect accounts may have been used in the original transaction. For example, if an invoice used the Accounts Payable account and not the Accounts Receivable account, the amount in Accounts Receivable would not match the Aged Receivables report.When comparing two reports, make sure their date range is exactly the same.Make sure the reports are standard, not customized. A customized report may not match other reports because of the way it is designed.Comparing ReportsOnce you have determined which reports are wrong, the next step is to find out why. When you get ready to compare the reports, choose the right ones. Make sure the dates are accurate and choose Standard Reports. Be careful not to select reports that are not designed to match.If the need arises to compare the Trial Balance and the General Ledger to each other, always pull them at the end of the month. Pull the Trial Balance for the last date of the month and pull the General Ledger for that same time frame. For example, pull the Trial Balance ending on June 30th, 2008 and then pull the General Ledger for June 1 to June 30th, 2008.Comparing the reports is not an easy process. It is recommended that you consult with your accountant or local accounting firm if the reports look confusing to you. Once you have determined where the discrepancy is, Peachtree Customer Support can point you in the right direction to solve it.Common Reports may not matchThe Aged Receivables report does not match Accounts Receivable on the Balance Sheet.The Aged Receivables report shows all open invoices and their aging through the dates selected. General Journal entries to the A/R account do not affect individual invoices and therefore won’t affect the Aged Receivables report. They will, however, affect the Balance Sheet since the Balance Sheet shows all assets, liabilities, and capital for the selected period.The Aged Payables report does not match Accounts Payable on the Balance Sheet.The Aged Payables report shows all open invoices and their aging through the dates selected. General Journal entries to the A/P account do not affect individual invoices and therefore won’t affect the Aged Payables report. They will, however, affect the Balance Sheet since the Balance Sheet shows all assets, liabilities and capital for the selected period.Cost of Goods Sold Journal report does not match the Cost of Sales on the Income Statement.The Cost of Goods Sold Journal shows every entry where a cost of goods sold was calculated in journal format to show all of the entries balance. Inventory Adjustments and General Journal entries do not show on the Cost of Goods Sold Journal but will affect the Income Statement since the Income Statement shows all income, cost of sales, and expenses for the selected period.Another situation that may cause the Cost of Goods Sold Journal to be inaccurate is if inventory items were set up with incorrect accounts for Cost of Goods Sold. If an item was accidentally set up with the Supplies Expense account in the Cost of Goods field instead of the correct Cost of Goods Sold account, the amount would still show on the Cost of Goods Sold Journal, but would not be in the correct account on the Income Statement. The Taxable/Exempt Sales Report does not match the Sales JournalThese two reports were not designed to match one another. The Taxable Exempt Sales Report totals the invoiced amount by the sales tax authority where the Sales Journal shows the totals of all debits and credits for all sales in the selected time period.The Earnings Report does not match the 941 Quarterly ReportThe Earnings Report shows the actual taxes withheld on each paycheck.. The 941 Quarterly Report calculates the Social Security tax and Medicare tax based on the current setup. If the difference is only a few cents, it is generally due to rounding. If you find the difference is more, either the paychecks were miscalculated or the Social Security and /or Medicare were manually entered at a different percentage than what is currently setup in the payroll system..941 Quarterly Report does not match the 941 Schedule BThe 941 report shows what should have been withheld for Social Security and Medicare while the 941b report shows what was actually withheld. If the difference is only a few cents, it is due to rounding. If you find the difference is more, either the paychecks were miscalculated or the Social Security and /or Medicare were purposely entered at a different percentage than what is currently setup in the payroll systemSome examples of reports that will or will not match:This report should match this report:General Ledger Trial Balance General Ledger Income Statement General Ledger Balance Sheet Aged Receivables Customer Ledger Aged Receivables General Ledger Aged Payables Vendor Ledger Aged Payables General Ledger Account Register Trial Balance This report should not match this report Cost of Goods Sold Journal Income Statement Taxable Exempt Sales Report Sales Journal
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