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moves to the Amount field.
Peachtree Accounting calculates the quantity multiplied by the unit
price and enters it in the field.
11 Press e to move to the Job field.
The Job field is also a lookup box. It contains a list of jobs and their
descriptions. For this part of the tutorial, we are going to skip entering a
job. To learn more about jobs, refer to “Lesson VIII”Job Costing” on
page 157.
12 Press e. The cursor moves to a new transaction line.
Next we will order Pansy Seeds.
13 Type 12 and press e.

14 Find item SEFL-31160 Pansy Seeds (Pastel Mix) from the lookup list and
press e.
The PO Total at the bottom should now display a total of $12.00.




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Lesson IV”Accounts Payable
Printing Purchase Orders


Saving and Posting
Always save your entries before exiting a task window (in this case the
Purchase Order window). The Post button is displayed because the sample
company uses real-time posting. When you select the Post button, Peachtree
Accounting saves and posts the purchase order. (You could also select the
Print button here to both print the purchase order and post it to the Purchase
Order Journal.)


When purchase orders and sales orders are posted, the account information
is not recorded to the General Ledger”just recorded to the Purchase Order
Journal or Sales Order Journal, respectively. Once you receive or ship
Note
inventory, the orders are changed to invoices. When you enter a purchase
invoice or sales invoice, Peachtree posts the account information to the
General Ledger (in an accrual-based company).

15 Select the Post button.

16 Select the Close button or press q to close the window.


Printing Purchase Orders
Now let™s print the Arbor Wholesale Suppliers purchase order we just entered.
There are three ways to print purchase orders.
From the Purchase Orders task window, select the Print button:

This prints the current purchase order displayed. If the reference
number field (PO number) is left blank, Peachtree Accounting
assigns a reference number and prints the form. If the PO number
field already has a reference number, Peachtree Accounting prints the
form with the word “Duplicate” on it.
From the Reports menu, select Accounts Payable. Select a form

from the Purchase Orders folder, and then click the Print button:
This prints a batch of open purchase orders (those without PO
numbers assigned) at one time based on a date you enter.
From the Navigation Aid, select the Purchases folder, and then the

Print Purchase Orders icon: This prints a batch of open purchase
orders (those without PO numbers assigned) at one time.
This basic procedure is the same whether you™re printing a batch of Purchase
Orders, Quotes, Sales Invoices, or Packing Slips. From the Reports menu,
select the module (for example, Accounts Receivable). Then double-click the
form folder, select the form you want to print, and filter the last date for which
to print the form. All transactions without reference numbers (for example,
invoice or order numbers assigned) will print.

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1 From the Reports menu, select Accounts Payable.

2 Scroll down the report list and open the Purchase Orders forms folder by
double-clicking it.

3 Scroll down and single-click the PO Plain form to print a plain paper
purchase order.
If you purchased preprinted forms, you might select the PO PrePrinted
form.

4 Select the Print button. The PO Plain filter window appears.

5 For tutorial purposes, assign the first PO number as 8111. In the Last Date
for which PO will print field, type 3/27/03 and press e.

6 Select OK to accept the filter options.

7 The Print window displays. Confirm the print setup and select OK to print
purchase orders.
After the purchase order is printed, a message box displays asking if it
printed properly. In real life, this is a very important question. When you
answer Yes, Peachtree Accounting updates PO numbers and flags the PO
as printed, so that it will not print again.
8 Select Yes.

Press q to close the Select a Report window.
9


Purchases/Receive Inventory
In the Purchases/Receive Inventory task, you apply purchase orders to
purchases or enter direct purchases (invoices you receive from your vendor
without a PO).
We have just received a shipment from Arbor Wholesale Suppliers for the
purchase order we previously entered.




96
Lesson IV”Accounts Payable
Purchases/Receive Inventory


1 From the Tasks menu, select Purchases/Receive Inventory.




Notice the similarities with the Purchase Order window. The only major
difference is the presence of the Apply to Purchase Order tab and Apply
to Purchases tab.
Apply to Purchase Order: When you select a vendor who has open

purchase orders, this tab appears, allowing you to select which
purchase order to receive items against.
Apply to Purchases: If you select a vendor with no open purchase

orders, this tab appears. You can enter a vendor invoice that did not
originate on a purchase order. In addition, even if you have selected a
purchase order and received items against it on the Apply to
Purchase Order tab, you can also select the Apply to Purchases tab to
enter purchases not included in any open purchase orders.
With the cursor in the Vendor ID field, type ARBOR-01 and press e.
2
The cursor moves to the Invoice # field.
Included in the Arbor Wholesale Suppliers shipment is Invoice 15777,
dated 3/29/03, responding to our Purchase Order # 8111. They shipped
us 12 packs of Cilantro Seeds and 12 packs of Pansy Seeds.




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3 Tutorials
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Type 15777 and press e. In the date field, type 29 and press e.
3

The date should format as Mar 29, 2003. The cursor moves to the
Waiting on Bill from Vendor field. Since our shipment included the
invoice, we can skip this field.
Press e five times. The cursor should now be on the Apply to Purchase
4
Order tab.

You should see a drop-down list displaying <No PO Selected>. This
displays all the current open POs for the particular vendor.
5 Select the down arrow, and then choose 8111 from the drop-down list.
You cannot apply more than one open purchase order to an invoice.
Press e twice. The cursor should be on the first transaction line in the
6
Received field. We ordered 12 packs of Cilantro Seeds and only received 6.
The remaining 6 packs have not been received yet.

Enter 6 and press e. The cursor moves to the Description field.
7

The description has not changed, so press e to move to the Unit Price
8
field.

9 The vendor has reduced the price to $.40 a pack, so enter .40 and press
e. The Amount field should calculate and display 2.40.

10 Press e to accept the amount. The cursor moves to the Job field.

11 Let™s skip the Job field for now. Press e to move to the second
transaction line which displays the Pansy Seeds.

12 Enter 12 and press e.
The unit price did not change and remains $.55. That™s all we need to
complete this invoice. The invoice total should display as $9.00.




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Lesson IV”Accounts Payable
Purchases/Receive Inventory


Discount Information
We began this lesson by changing the payment terms for Arbor
Wholesale Suppliers. Let™s check the discount information for the
purchase invoice we just entered.
13 Select the arrow button to the right of the Terms. This information is just
below the Ship To address.




The Date Due is the date by which the invoice should be paid. The
Discount Amount is the invoice total multiplied by the discount
percentage you entered in the Maintain Vendor record. The discount
date is the date by which we must pay to receive the purchase discount.
The Displayed Terms are the percentage of discount, the time in days for
receiving the discount, and the number of days before the invoice is due.
14 Select OK to exit this window.

Accounting Behind the Screens
Let™s examine the journal entry that will be made to the Purchases Journal
before posting it.

15 Select the Journal button from the toolbar.




You can edit the
account number
for each line item
you entered. The
other fields cannot
be edited in this
window.




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The Accounting Behind the Screens window displays journal entries that
will be posted if this transaction is saved; it provides a preview of what
will happen when the transaction is recorded.
The default account that is selected for each line item is 12000”
Inventory. This default comes from the inventory item list and or default
information set up in Maintain Inventory Items. The accounts payable
account also appears. You have the opportunity to change these account
IDs, if necessary, but usually you would accept the default.
The Accounting Behind the Screens window displays debit and credit
information for each line item. Since Peachtree is a double-entry
accounting system, all the accounting distributions are automatically
done for you, behind the scenes. Whenever you need to see this
accounting information, select the Journal button.

16 Since we do not need to make any changes, select the OK button to return
to the Purchases/Receive Inventory window.

Posting Purchase Transactions
Most entries made in the Purchases/Receive Inventory window are debits.
The offsetting credit is made to the Accounts Payable account (in accrual
accounting). The credit to Accounts Payable is made to the A/P account that
appears on this Purchases/Receive Inventory window.

17 Select Post to record the Purchase invoice.
The purchase is recorded and the proper accounts are distributed to the
General Ledger. Inventory is also updated.

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