System Configuration and Setup MCQs on Peach Tree

1. What is the first step when setting up a new company in Peachtree?
   a) Entering company information and fiscal year
   b) Creating user accounts
   c) Importing inventory data
   d) Configuring tax settings
   Answer: a) Entering company information and fiscal year
2. Which menu option is used to configure company settings in Peachtree?
   a) Options menu > Global Settings
   b) File menu > Company Preferences
   c) Edit menu > Company Settings
   d) Setup menu > Company Configuration
   Answer: a) Options menu > Global Settings
3. How can you customize the chart of accounts in Peachtree during setup?
   a) By selecting a predefined template or creating custom accounts
   b) By importing accounts from Excel
   c) By copying accounts from another company file
   d) By downloading from the Peachtree website
   Answer: a) By selecting a predefined template or creating custom accounts
4. What is the purpose of setting up user roles and permissions in Peachtree?
   a) To control access to various features and data within the software
   b) To enhance software performance
   c) To automate financial reporting
   d) To simplify inventory management
   Answer: a) To control access to various features and data within the software
5. Which feature allows you to set default settings for new transactions in Peachtree?
   a) Defaults menu > Maintain Default Information
   b) File menu > Transaction Settings
   c) Edit menu > Default Configurations
   d) Tools menu > New Transaction Defaults
   Answer: a) Defaults menu > Maintain Default Information
6. What should be configured to ensure accurate sales tax calculations in Peachtree?
   a) Sales tax codes and tax agencies
   b) User permissions
   c) Inventory levels
   d) Customer credit limits
   Answer: a) Sales tax codes and tax agencies
7. How can you ensure that all financial reports are generated with the correct fiscal year settings in Peachtree?
   a) By setting the fiscal year in the company information during setup
   b) By manually adjusting each report
   c) By importing fiscal data from Excel
   d) By running a system update
   Answer: a) By setting the fiscal year in the company information during setup
8. What is the purpose of setting up vendor records during the initial configuration of Peachtree?
   a) To manage and track payments to suppliers and service providers
   b) To automate payroll processing
   c) To generate customer invoices
   d) To create financial reports
   Answer: a) To manage and track payments to suppliers and service providers
9. Which feature allows you to establish beginning balances for accounts during Peachtree setup?
   a) Beginning Balances Setup
   b) Account Initialization
   c) Balance Import Wizard
   d) Initial Data Entry
   Answer: a) Beginning Balances Setup
10. Why is it important to review and adjust system default settings during the initial Peachtree setup?
    a) To ensure the software operates according to your specific business needs and preferences
    b) To increase the processing speed of the software
    c) To simplify the user interface
    d) To reduce the number of required user accounts
    Answer: a) To ensure the software operates according to your specific business needs and preferences

More MCQs on Peachtree

• Main navigation areas (e.g., Customers & Sales, Inventory & Services)
• Using menus and icons
• Accessing and customizing reports
• Customer and Sales Management MCQs
  • Creating and managing customer records
  • Processing sales invoices
  • Handling sales returns and adjustments
• Inventory Management MCQs
  • Setting up and maintaining inventory items
  • Recording inventory purchases and adjustments
  • Tracking inventory levels and costs
• Vendor and Purchasing MCQs
  • Creating and managing vendor records
  • Recording purchase orders and bills
  • Handling vendor payments and adjustments
• Accounts Payable and Receivable MCQs
  • Managing accounts payable (AP) and accounts receivable (AR)
  • Generating and paying bills
  • Invoicing customers and receiving payments
• General Ledger and Journal Entries MCQs
  • Understanding the general ledger structure
  • Recording and adjusting journal entries
  • Managing and reconciling accounts
• Payroll and Employee Management MCQs
  • Setting up employee records
  • Processing payroll and employee deductions
  • Handling employee benefits and taxes
• Financial Statements and Reports MCQs:
  • Generating and interpreting financial statements (e.g., Balance Sheet, Income Statement)
  • Customizing and analyzing reports
  • Understanding key financial metrics
• Backup and Data Management MCQs
  • Performing and restoring backups
  • Managing data integrity and security
  • Handling data migrations and updates
• System Configuration and Setup MCQs
  • Setting up company information and preferences
  • Customizing forms and templates
  • Configuring system settings and user permissions
• Troubleshooting and Support MCQs
  • Common issues and solutions
  • Accessing help resources and support
  • Performing basic troubleshooting steps
• Integration and Advanced Features MCQs
  • Integrating with other software or systems
  • Using advanced features like job costing or project management
  • Exploring additional modules or functionalities MCQs