Peachtree works in many ways. Assume you are utilizing three ledger books. This ledger has three areas of record i.e. sales ledger, purchase ledger and general ledger. All sales are recorded in the sales ledger and any purchase is recorded in the purchase ledger book. These two ledgers also reflect the buyer and supplier’s payment. Also recorded is any outstanding balance.
The general ledger cross- checks the trustworthy of the information two books i.e. sales and purchase books. The second way is by using the charts of accounts. This is where all the transactional data is entered into its individual account using the account codes. An account professional is able to understand and use these account codes perfectly. The chart of accounts can be amended to suits the flexibility of the need. This chart of accounts allows the categorizing the accounts for easy work. Also one of the fastest growing areas of software development is in fund accounting as more organisations move to computerised methods to cut costs.
