Ph4IP2_Journal Entries and Transactions

Ph4IP2_Journal Entries and Transactions - Phase 4...

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Phase 4 Individual Project 2 1 Running Head: PHASE 4 INDIVIDUAL PROJECT 2: JOURNAL ENTRIES AND TRANSACTIONS Phase 4 Individual Project 2: Journal Entries and Transactions Chris Normand Colorado Technical University Accounting 210-01 Prof. Antoinette Callistro August 1, 2010
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Phase 4 Individual Project 2 2 Phase 4 Individual Project 2: Journal Entries and Transactions Peachtree Complete Accounting 2010 can be described as a financial relational database (Callistro, 2010). The software takes the old way of accounting and places all the information in a database where the user can query that information based on a certain criteria. The program is set up into “Modules,” which represent the most used types of criteria in the database people use. One instance is “Customers and Sales.” Since customers and sales go hand-in-hand, Peachtree has joined them together in one module for convince. Let us say you come from the old school of accounting and you make all your entries in a double-entry journal. You enter sales to customers by debiting either cash or accounts receivable and you credit revenues. You can make a note in the description section as to what the transaction was for or what is was about. However, you still need to have that customer’s name, address, phone number, product they purchased, and other pertinent information stored somewhere else. In Peachtree, it is all done for you
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This note was uploaded on 08/22/2010 for the course ACCOUNTING ACCT342 taught by Professor Curt during the Spring '10 term at Colorado Technical University.

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Ph4IP2_Journal Entries and Transactions - Phase 4...

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