Modern Accountancy Practical Peachtree Training

Part 1: Practical Peachtree AccountingCompany Setup & Configuration: Creating a new company, defining fiscal years, and configuring default settings.Chart of Accounts: Designing, tailoring, and structuring a customized Chart of Accounts suited for local business operations. Daily Transactions: Recording customer and vendor transactions, including sales invoicing, purchases, vendor payments, customer receipts, and inventory tracking. Banking & Cash Controls: Performing routine bank reconciliations and managing petty cash within the software. Financial Reporting: Generating balance sheets, income statements, aging reports, and custom management reports required by employers.
Part 2: Ethiopian Tax System & ComplianceOverview of Ethiopian Tax Proclamations: Introduction to the legal framework, regulatory bodies (such as the Ministry of Revenues), and basic tax principles. Major Tax Types & Computations:Employment Income Tax (PIT): Calculating progressive income tax rates and handling payroll deductions.Business Income Tax: Understanding tax schedules, allowable/unallowable deductions, and profit tax computations.Value-Added Tax (VAT): Setting up VAT rules, tracking output/input VAT, and handling exemptions.Withholding Taxes: Applying withholding taxes on purchases, imports, and payments as mandated by local regulations.Integration with Peachtree: Setting up sales taxes, tax agencies, and tax codes inside Peachtree to automate local tax tracking. Filing & Compliance Standards: Preparing schedules, managing filing deadlines, and ensuring proper documentation for tax audits.