1. Chapter 13: Customers & Sales
McGraw-Hill/Irwin
Copyright © 2013 by The McGraw-Hill Companies, Inc. All rights reserved.

2. Customers & Sales
In Chapter 12, you learned how to use Peachtree’s Purchases/Receive Inventory and Payments features.
Now that you have purchased merchandise from vendors, you are ready to sell that merchandise. To do that, you need to use Peachtree’s Customers & Sales Navigation Center.
Before using the Sales/Invoicing and Receipts windows, you set up customer defaults, sales tax information, and customer maintenance information. After these defaults are set up, Peachtree uses that information when a sale is recorded.
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3. Peachtree’s Accounts Receivable System, p. 504
Record, then print a sales invoice.
The customer sends a check to pay for the credit sale.
Select the invoice that applies to the customer's check, then select the pay box.
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4. The Customers & Sales Navigation Center
On the Customers & Sales Navigation Center, Peachtree illustrates the accounts receivable system.
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5. Peachtree Tips
You must complete Chapter 12 before you start Chapter 13.
Restore the Chapter 12.ptb file made on pages
If the general ledger account (GL account field) is not displayed on the Sales/Invoicing window, check the global options. In the Hide General Ledger Accounts section, all boxes must be unchecked (refer to pages xvi-xvii, Setting Global Options).
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6. Backing Up and Saving Files Chapter 13, pp. 427-428
Backup Name (.ptb)
Excel (.xlsx)
Kilobytes
Page Nos.
Chapter 13 Begin.ptb
1,052 KB
510
Chapter 13.ptb
1,082 KB
538
Chapter 13_SJ_CRJ_CL_GLTB.xlsx
24 KB
539
Exercise 13-1.ptb
967 KB
544
Exercise 13-2.ptb
984 KB
546
Exercise_SJ_CRJ_CL_GLTB.xlsx
23 KB
Exercise 13-2.Sales Journal.pdf
6 KB
Exercise 13-2_Cash Receipts Journal.pdf
Exercise 13-2_Customer Ledgers
Exercise 13-2_General Ledger Trial Balance.pdf
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7. Glossary of Terms Chapter 13
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8. Accounts receivable, p. 497
Money that is owed by customers to the business.
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9. Accounts Receivable transactions, p. 497
Credit transactions from customers.
When Cynthia's Service Merchandise sells merchandise on account to customers, the transactions are known as accounts receivable transactions.
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10. Invoice, p. 498
A bill that shows an itemized list of goods shipped or services rendered, stating quantities, prices, fees, and shipping charges.
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11. Sales journal, p. 510
Sales on account are recorded in the sales journal.
In Peachtree, all the information about a sale is recorded in the Sales/Invoicing window. Then, Peachtree takes the necessary information from this window and automatically journalizes the transaction in the sales journal.
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12. Sales/Invoicing window, p. 512 Sales Journal
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13. Cash Receipts Journal, p. 510
A journal used to record all inflows of cash.
Peachtree takes the necessary information from the Receipts window and automatically journalizes the transactions in the cash receipts journal.
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14. Receipts window, p. 523 Cash Receipts Journal
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15. Accounts receivable ledger, p. 511
The accounts receivable ledger shows the account activity for each customer.
In Peachtree, this is called the customer ledger.
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16. Customer Ledgers, p. 536 Accounts Receivable Ledger
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17. Service invoice, p. 518
An alternative to the standard invoice. Use it when you want to create an invoice without inventory items.
Cynthia's Service Merchandise sells and repairs household items. When repairs are done, a service invoice is used.
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18. Sales/Invoicing window, p. 519 Service Invoice
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19. Going to the Net, pp
Access the Business Owner’s Toolkit website at Read the accounts receivable page, and then answer the following questions.
What is the common abbreviation for accounts receivable?
What is the control account for customer sales on account?
How is the ending accounts receivable total computed?
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20. Analysis Question, page 546
What is the balance in the Accounts Receivable account, Cynthia’s Service Merchandise? Why?
The balance in the Accounts Receivable account of Cynthia’s Service Merchandise is $381. This balance reflects the customer account balance for Joann Poe. The Customers Ledgers subsidiary account balance is the same as the Accounts Receivable controlling account balance in the general ledger.
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21. Navigation Center/Module
Assessment Rubric, p. 547
Date
Transaction
Navigation Center/Module
Task
Window
Journal
Dr./Cr.
1/6
Sold five tool kits on account to Alan Clark, Invoice 101
Customers & Sales; Sales Invoice, New Sales Invoice
Accounts Receivable
Sales/Invoicing
Sales Journal
Dr , Cost of Sales, Tools, $150
Dr , Accounts Receivable/Alan Clark, $459
Cr , Sales Tax Payable, $34
Cr , Sales-Tools, $425
Cr , Merchandise Inventory, $150
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22. Assessment Rubric (continued), p. 547
Date
Transaction
Navigation Center/Module
Task
Window
Journal
Dr./Cr.
1/10
Alan Clark returned one of the tool kits purchased on 1/6, Invoice No. 101, CM101. Mr. Clark also paid the balance of Invoice 101.
Customers & Sales, Credits and Returns, New Credit Memo
Accounts Receivable
Credit Memos
Sales Journal
Dr , Sales Tax Payable, $6.80
Dr , Sales-Tools, $85
Dr , Merchandise Inventory, $30
Cr , Cost of Sales-Tools, $30
Cr , Accounts Receivable/Alan Clark, $91.80
Continued
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23. Assessment Rubric (concluded), p. 547
Date
Transaction
Navigation Center/Module
Task
Window
Journal
Dr./Cr.
1/10
Mr. Clark paid the balance of Invoice 101.
Customers & Sales; Receive Money from Customer
Accounts Receivable
Receipts window
Cash Receipts Journal
Dr , Caliber Bank, $367.20
Cr , Accounts Receivable/Alan Clark, $367.20
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24. Online Learning Center
Go online to for additional resources. Link to Student Edition, select Chapter 13.
Interactive Testing
Glossary of Terms
Feature Quizzes
Two Flash Videos: Demonstrations of sales invoice and customer payments.
PowerPoints
Assessment Rubrics
Going to the Net
QA Templates
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