Entering Vendor Beginning Balances


Purchasing information–such as the purchase rep, tax ID numbers, and shipping terms–is entered on the Purchase Info tab. Fields of interest are described below:

• Purchase Rep: Select an employee who is the purchasing representative for this vendor.

• Tax ID #: Enter your vendor’s tax number if you plan to send a 1099-MISC or 1099-INT form.

• Terms: The current terms settings appear here. Click the arrow button to change the terms. To override the default terms, select Customize terms for this vendor from the drop-down list. Then, change the settings as needed.

• Form Options: Use this box to select whether or not the vendor will automatically be sent a paper form or an e-mail when creating a Purchase Order. You can also have Peachtree automatically send a copy to the Purchase Rep.

• Replace Item ID with: You can specify if you want inventory Item IDs printing on forms or whether or not you want to replace the Item ID with either the UPC/SKU or Part Number for this vendor.


You can keep track of insurance information on your subcontractors with this tab.


­Beginning balance invoices are vendor invoices that are outstanding as of the date you began to use Peachtree. Since these bills were recorded to the appropriate accounts in your previous accounting system, they should not affect the General Ledger in Peachtree. The balance of the Accounts Payable account in the General Ledger should equal the total amount of the vendor beginning balances as long as no other payable transactions have been made.

Vendor Beginning Balances Window

The Vendor Beginning Balances window is used to enter information regarding outstanding purchase invoices/bills you have not entered in Peachtree. Each tab is described below:



This tab displays your list of vendors and amounts. If you want to adjust beginning balances for a vendor, double-click the vendor’s name.


The Purchases From tab is used to enter information for each beginning balance invoice. Beginning balances are not posted to the General Ledger. However, you should enter an Accounts Payable account in the right-hand column to ensure that the program will decrease the Accounts Payable account balance when the payment is made for the invoice. Fields of interest are described below:

purchases from vendor

• Invoice Number: Enter the number that identifies the outstanding invoice.

• Purchase Order Number: If a purchase order is related to the invoice, enter the number in this field.

• Amount: Enter the dollar amount of the invoice.

• A/P Account: Enter the account that this invoice’s value is tracked in. If your company uses the cash-basis accounting method, this field will not be available.
Back to Table of Content