Is the following true or false?
If a 401(k) plan is set up, the payroll fields and tax tables need to be manually updated.

At the end of the fiscal year, Peachtree automatically closes the year by posting the necessary journal entries.

There is a reminder message displayed to backup data if the specified number of days elapses since the last time the company data was backed up.

When should the check register be printed?

Peachtree Accounting 7.0 automatically calculates the aging for each balance based on the current date.

What is made to correct or adjust entries in the General Ledger when accounts already have transactions posted against them?

Which accounts do not have detailed ledgers maintained in the General Ledger,but only summary amounts?

Which inventory item class does not have quantity or costs calculated?

Since Peachtree Fixed Assets does not create journal entries,the financial information related to the disposal of a fixed asset needs to be provided to Peachtree Accounting.

Posting purchases and payments is necessary before posting sales and receipts if all journal entries are not posted at the same time and inventory is being used.

Transactions can be posted to any accounting period within the fiscal year by changing the accounting period.