Start with the accounting cycle and then build a new company file the way a real business would, including the choices that are hard to change later.

• How double-entry bookkeeping maps onto Peachtree’s ledgers and subledgers
• Creating a new company and entering name, address and business type
• Choosing between cash and accrual accounting and understanding the difference
• Setting the fiscal year and posting periods so entries land in the right month
• Navigating the main areas: Customers & Sales, Vendors & Purchases, Inventory, Banking and reports
• Setting up users, backing up the company file and restoring it safely

A clean chart of accounts is the foundation of every report. This module shows how to design one for a Pakistani trading or service business and how to start the books without carrying errors forward.

• Account types: assets, liabilities, equity, income, cost of sales and expenses
• Creating, editing and numbering general ledger accounts in a logical order
• Entering opening balances for ledger accounts, customers, vendors and stock
• Checking that the opening trial balance agrees before posting any transaction
• Making general journal entries for adjustments, accruals and corrections
• Common set-up mistakes, such as wrong account types and duplicate accounts, and how to fix them

Learn the full sales cycle from the first quote to the money arriving in the bank, and see how each document updates receivables automatically.

• Creating customer records with contact details, terms and credit limits
• Recording quotes, sales orders and sales invoices
• Receiving payments and applying them to specific invoices
• Issuing credit memos for returns and discounts
• Printing customer statements and following up overdue balances
• Reading the aged receivables report to decide who to chase first
• Sales tax set-up and how it appears on invoices and reports

Control what you owe and when you pay. This module covers purchasing from order to payment so that supplier balances are always accurate.

• Creating vendor records with payment terms and default expense accounts
• Recording purchase orders and receiving goods against them
• Entering vendor bills and linking them to inventory or expense accounts
• Paying bills by cheque and recording partial payments
• Handling purchase returns and vendor credits
• Reading the aged payables report to plan cash outflow
• Matching vendor statements with your own records

Stock is where many small businesses lose track of profit. You will set up items properly and understand how quantity and value move through the books.

• Creating inventory items with item class, description, price and cost
• Choosing a costing method and understanding what it does to cost of sales
• Recording purchases that increase stock and sales that reduce it
• Making inventory adjustments for damage, shortages and stock-take differences
• Assembly items for simple manufacturing examples, such as combining parts into a finished product
• Reorder levels and reading inventory valuation and stock status reports

Cash is the first thing an owner or auditor checks. Here you practise the routine that proves your books against the bank statement.

• Writing cheques and recording deposits
• Transferring funds between bank and cash accounts
• Recording bank charges, mark-up and other items that appear first on the statement
• Reconciling the account to the statement, one transaction at a time
• Investigating differences caused by uncleared cheques or wrong amounts
• Printing the reconciliation report as proof for your accountant

Reports turn daily entries into decisions. You will learn which reports to run, what they show and how to confirm they are consistent.

• Trial balance and general ledger report for checking postings
• Income statement and balance sheet for management and tax advisers
• Aged receivables and aged payables for credit control
• Customer, vendor and inventory reports for operational review
• Filtering reports by period and customising columns
• Exporting reports so they can be sent to owners or accountants

Closing a month properly is a discipline. This module gives you a checklist you can reuse in any business and any software.

• A month-end checklist: unposted entries, unreconciled banks, open orders and stock counts
• Reviewing the audit trail to see who posted what and when
• Correcting wrong invoices, wrong dates and wrong accounts the right way
• Understanding what closing a fiscal year does to income and expense accounts
• Backing up before any major step and keeping dated copies

Put everything together in a complete exercise for a small trading business, from setup to the final reports.

• Set up the company, accounts and opening balances from a given trial balance
• Post a month of sales, purchases, receipts and payments
• Handle returns, discounts and a stock adjustment
• Reconcile the bank account and review aged balances
• Present the trial balance, income statement and balance sheet

A second exercise adds the extra thinking that manufacturing and assembly businesses need.

• Buying raw materials and recording them as stock
• Assembling finished goods from component items
• Selling finished goods and checking the margin
• Reviewing inventory valuation before and after production
• Explaining the results in plain language as you would to an owner