Peachtree Complete Accounting 2002

Errata Sheet

The following changes/corrections have been discovered during the first use of the textbook. Most have little impact on the actual accounting but may cause some confusion. As a general statement, it has been discovered that there are sequences that can be followed which result in Peachtree assigning check numbers, invoice numbers and other program assigned numbers differently depending on how the input was accomplished. These number assignments impact neither the accounting nor the dollar amounts on the final reports. As such, I will not attempt to specify all the variations. Do warn your students that these number assignments may occur but are not relevant to the accounting. The same applies to the use of items such as descriptions, GL references, etc. They need not match the solution manual exactly.

Chapter 2

Page 53- Memo box belongs at top of page 54.

Page 59- The 4th line of the DO reads Click on the Preview. Should read Click on the Options.

Page 78- Between the 3rd and 4th line of the DO, add Click Preview.

Page 80- Transaction in Memo box is not on transmittal.

Chapter 3

Page 130- Screen capture of check register shows the amount of the last check as $350.00. Should be $250.00.

Chapter 4

Page 155- Account 1350 Prepaid Insurance is actually 1340 Prepaid Insurance.

Page 156- Screen capture shows amount as $325.00. Should be $350.00.

Page 167- Screen capture of additional transactions shows dates of Jan 30, 2001. Should be Jan 31, 2001.

Page 198- First income Statement should read " for Five Months Ended…". Second one should read for "Six Months Ended…".

End-of-Section 1 Handy Helpers

Page 204- Last line has date February 3. Should be February 4.

Chapter 5

Page 274- Line 10 identifies account 4011 as a GL Cash Acct. Should be GL Sales Acct.

Page 274- Line 14 & 30, dress should be Dress, 2 piece.

Chapter 6

Page 280- Screen capture shows 4 items on reorder report. Should show 6 items. GLO10 and POL10 will also be included.

Chapter 7

Page 328- Screen capture has incorrect beginning balances for accounts 1120 and 3050. They should be $50,300.27 and $40,210.77 respectively.

Page 360- In the last section of the page describing the adjusting entries required, remove the capitalization on Supplies Used. These are instructions and not account names.

Page 361- Bank Statement. In order to match answer key, reverse the principle and interest amounts for both of the loan transactions on 1/30/02.

End-of-Section 2 Planet Golf

Page 374- Remove transmittal item Invoice No. 12 Wilson Johnson

Chapter 8

The data files for Brekners Co. seem to be set in their completed rather than start positions. A simple restore to the start backup file contained in the company folder will solve this problem. Simply select Restore from the File menu and choose "Brekners Co_-Start.ptb". This will return the company data files to their start position. You can accomplish this before loading the file on a network precluding each student from needing to do so.

A number of instructors have reported that they are not getting any payroll deduction calculations. This is due to the need for the Payroll tax tables, contained on the student disk and located at the support web site. The install routine on the CD-ROM for those tax tables was not set up to actually install the tax tables. It merely unzips the files to a subdirectory called Peachtree. In order to install them, Setup must still be run from that subdirectory where the files were unzipped. That opens up a Peachtree Install Wizard and it will correctly place the files where they need to be. There will be a separate installation instructions file on the web site to assist you in installing the program, data and tax table files.

Page 413- The bi-weekly pay period under July 28,2000 shows January 17 - January 28,2000. Should read July 17 - July 28, 2000. Under July 31, 2000, January 28 is July 28.

Page 413- In order to match the answer key, Leo Lyons pay frequency must be set up as weekly in the Maintain Employees. While this is not the intent, it is the only way to match the answer key. Using the correct bi-weekly designation will result in no withholdings and will change a number of reports.

Chapter 9

Page 441- When setting up the $75.00 and $35.00 employee benefits deductions, use a negative amount instead of a positive amount eg, -75.00 and -35.00

Page 466- Reorder quantity for PA102 should read 15 and not 25.

Page 467- Last line of page reads Check No. 501. Should read Check No. 129.

End-of-Section 3 The Paint Can

Page 464- Account number 39006 in the GL set up table should be 39005.

Page 474- To the last sentence on page add: Close the Drawing account to the Capital account. Note that this will slightly impact the appearance of the Balance Sheet in the solutions manual but not the totals.

Some helpful installation instructions courtesy of Jean Insinga

Installing Peachtree 2002 Program Files

  1. Insert CD in drive
  2. Opening window displays

Note: If opening window does not display then you will need to start your CD by:

Click the Start Button

Click Run

Type Start.exe.

  1. Click Install
  2. Click Peachtree Complete Accounting 2002
  3. The installation will require you to click Next and Accept as you go through the setup wizard.
  4. The program installs in the folder PCW9EDU. (Please take note of the folder name. You can change the name of the folder before installing as well.

Installing Peachtree 2002 Data Files

After the Peachtree program is installed, then click Company Files. The unzip window will display and you will be asked to select the folder to extract the files to.

  1. The default folder is C:\Peachtree\Company Data Files. If you would like to change the location, click Browse and select the folder.
  2. Click Unzip. The files will be copied to the folder.
  3. Click Close.

Installing Peachtree Accounting Tax Update

The tax update must be installed to process the payroll for specific company data files. Click the Peachtree Accounting Tax Update. The unzip window will display and you will be asked to select the folder to extract the files to.

  1. The default folder is C:\Peachtree\Tax Update. If you would like to change the location, click Browse and select the folder.
  2. Click Unzip. The files will be copied to the folder.
  3. Click Close.
  4. Open Windows Explorer or My Computer. Locate the C:\Peachtree folder.
  5. Double click C:\Peachtree and the tax files will display.
  6. Double click the setup.exe file and the files will be installed in the PCW9EDU folder with the program files.

Opening a Peachtree data file

  1. Click Start
  2. Click Programs
  3. Click Peachtree Complete Accounting
  4. Click Open an Existing Company
  5. If the companies do not appear, click the Browse button.
  6. Double click the C:\.
  7. Double click Peachtree.
  8. Double click Company Data Files.
  9. The data file folder, C:\Peachtree\Company Data Files will display.
  10. Select a data file and click Open.

You are ready to work in Peachtree.