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3 Select the Add button. A new (third) transaction line displays.

Type 8 in the Quantity field and press e. Select AVRY-10100 (Bird House
4
Kit) from the Item lookup list and press e until you reach the Unit Price
field. Accept the unit price of $129.99.
The Amount for the eight bird house kits should display as $1039.92.
The SO Total should now display $1440.06.
We need to give the sales representative credit for the sale.
Place your mouse pointer in the Sales Rep ID box. Press ? and double-click
5
the first sales rep, DBECKSTROM-01.

Select the Post button to record the sales order, and then press q to close
6
the Sales Orders window.

You can also print sales orders. One copy of the sales order can be sent to the
customer as a packing slip. A second copy of the sales order can be marked up
by warehouse personnel as verifying what was shipped to the customer and
what needs to be put on order. The marked-up copy could be given to your
accounting clerk prior to invoicing the customer for items shipped.




120
Lesson V”Accounts Receivable
Entering the Sales Invoice


Entering the Sales Invoice
We are ready to deliver and install the bird bath at Armstrong Manor.
1 From the Tasks menu, select Sales/Invoicing.




The Sales/Invoicing window is similar in many ways to the Purchases
window. Freight and Sales Tax fields have been added along with the
presence of the Apply to Sales Order tab and Apply to Sales tab.
Apply to Sales Order: When you select a customer who has open

sales orders, the Apply to Sales Order tab displays, allowing you to
select which order to receive items against.
Apply to Sales: If you select a customer with no open sales orders,

this tab displays. You can enter a direct sale that did not originate on
a sales order or quote. In addition, even if you have selected a sales
order and shipped items against it on the Apply to Sales Order tab,
you can also select the Apply to Sales tab to enter additional sales not
included in a sales order.
If you followed along in Lesson IV”Accounts Payable, the procedure
here is very similar.
With the cursor in the Customer ID field, type A and press e. The
2
customer Armstrong Manor displays.

3 Leave the Invoice # field blank; we want Peachtree Accounting to assign
the invoice number when we the print invoice. Press e.



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3 Tutorials
Getting Started Guide


With the Date field selected, type 25 and press e. The date formats to
4
Mar 25, 2003.

5 In the Apply to Sales Order tab, select 9001 from the drop-down list.

6 We plan to deliver all items ordered. Select the All button from the toolbar.
If you started this tutorial with a clean copy of our sample company,
Bellwether Garden Supply, you should receive the following warning
message:




Press e to close the warning message. Look at the line items. The only
7
items that show no shipment are the Bird House Kits.

8 With the Sales/Invoicing window still open, select Inventory Items from the
Maintain menu.

In the Item ID field type AV and press e. The record for Bird House Kit
9
displays.

10 Notice the Quantity on Hand field. This window shows that we currently
have only three in stock. The Sales Order calls for eight kits. We need to
order some more from the vendor. For now let™s return to the sales invoice.

11 Press q to return to the Sales/Invoicing window.

12 Knowing that you are low in stock, type 8 in the Shipped column for the
Bird House Kits, and then press e.
A second warning message displays identifying that we are currently
attempting to ship/sell the item over the current stock level.




122
Lesson V”Accounts Receivable
Entering the Sales Invoice


We just demonstrated two methods of signaling that you are selling
beyond the current stock level. Both messages are an optional setting in
the Maintain Global Options window.
Global Out of Stock Warning Message: This message warns that you

are selling one or more items that are out of stock when you select
the All button. The item is not identified. The quantities (for items
out of stock) in the Shipped column are set back to zero.
Individual Item Out of Stock Warning Message: This message

warns that you are selling a particular item and displays the item and
its current stock level. This is a system-generated message. If you
proceed, the item will be sold beyond the current stock level.


These two warning messages will not display if you do not have the “Warn if
inventory item is out of stock” option activated in the Maintain Global
Options window.
Note

13 Select OK on the item warning message.



Note: Depending on how you want to invoice a customer, you have the option of
invoicing the customer for all items on order (no matter how many items are
in stock) or invoicing the customer as the items are shipped.
The quantity shipped still reflects eight bird house kits shipped. You
should change this to reflect three items because that is what you have on
hand. You will invoice the customer later for the remaining kits when
they are in stock.
14 Press s+e to move back to the Shipped field. Type 3 and press
e.
The Invoice Total should display $751.12.

15 Select the Post button to save the invoice and record account information
to the General Ledger.
Remember that quotes and sales orders are saved to their respective
journals and that no account information is recorded to the General
Ledger. When you post a sales invoice, account information is then
recorded to the general ledger.




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3 Tutorials
Getting Started Guide


Sales Transactions
In an accrual-based company, most entries made in the Sales/Invoicing
window are credits posted to the General Ledger. The offsetting debit is
made to the Accounts Receivable account displayed on this Sales/
Invoicing window.
There are also other accounts which might be affected including cost of
goods and inventory.
Debit: Accounts Receivable, Cost of Goods Sold

Credit: Income, Sales Tax Payable, and Inventory


Printing Invoices
There are three ways to print invoices.
From the Task window, select the Print button: This prints the

current invoice displayed. If the reference number field (Invoice #) is
left blank, Peachtree Accounting assigns a reference number and
prints the form. If the invoice number field already has a reference
number, Peachtree Accounting prints the form displaying the word
“Duplicate” next to the invoice number.
From the Select a Report window, select the invoice form: This

prints a batch of invoices at one time. You have the option of printing
“printed invoices” (those with reference numbers already assigned)
and “non-printed invoices” (those which need to be assigned
reference numbers and then printed).
From the Sales Navigation Aid, select Print Invoices: This prints a

batch of invoices at one time. Only “unprinted invoices” (those
which need to be assigned invoice numbers and printed) will be
printed using this method.
This basic procedure is the same whether you are printing a batch of
purchase orders, quotes, or sales invoices. From the Reports menu, select
the module area, open the form folder, select the form, and enter the last
date for which to print the form.


Invoices only print when the date of the invoice is less than or equal to the date
set for the Last date for which invoices will print, on the Filter window.
Note
1 From the Reports menu, select Accounts Receivable.

2 Scroll down the report list and open the Invoices/Credit Memos/Packing
Slips forms folder by double-clicking it.




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Lesson V”Accounts Receivable
Understanding Backorders


3 Scroll down and single-click on the Invoice Plain w/ Freight w/BO form.
This will print a plain paper invoice that includes freight and backorder
information.

4 Select the Print button. The Filter tab of the Invoice Plain w/Freight w/BO
window appears.

5 Make sure the Unprinted Invoices option is selected. For tutorial purposes,
assign the first invoice number as 9901. In the Last date for which invoices
will print field, type 3/25/03 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
sales invoices.
After the invoice 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 sales invoice numbers and flags the
sales invoice as printed, so that it will not print again.
8 Select Yes.
Notice that the invoice states we have five bird house kits on backorder.
This will be explained in a moment.
Press q to close the Select a Report window.
9


Understanding Backorders
Peachtree Accounting uses sales orders and invoices you have entered to
determine if you have over-sold stock or assembly items. When you enter a
sales order, all items are placed on order. Once you invoice items that are in
stock, the remaining items (if any) remain on order. These items are
considered to be on backorder. Once you purchase and receive these items,
you can sell them, closing the sales order.
To determine what items are still on order after an invoice is posted, look at
the Sales Backorder Report or the Sales Order Report.
In our previous example, we entered Sales Order #9001 for eight bird house
kits when we only had three in stock. Therefore, we should still have five kits
on backorder. Once we receive these items, we can invoice and ship the
remaining five bird house kits; Sales Order # 9001 is then closed.




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3 Tutorials
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1 From the Reports menu, select Accounts Receivable.

2 From the Select a Report window, scroll down, single-click the Sales
Backorder Report, and click the Screen button.
The Sales Backorder Report window displays with the Filter tab selected.

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