Also see:
A/P Features
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Everything you
buy from a vendor on account, whether for a job or for
the shop, is an accounts payable entry
These purchases, which are usually
recorded from vendor invoices, are added into Accounts
Payable. Since Accounts Payable is integrated with the
General Ledger, there's no double-entry, and no need to enter information twice. Information
entered on invoices becomes part of the G/L. The A/P file
tracks everything about your purchases:
What you've bought
From whom it was purchased
How much it cost
When the invoice should be paid
The purchase's markup and gross amount
When the invoice was paid
Vendor invoices should be added daily,
to keep your accounting files and job cost reports timely
and accurate. Invoices with job costs can be billable or
unbillable, or any combination. They can contain one or
more jobs and tasks for flexible job costing. Invoices
for overhead (which are unbillable by nature) can debit
any number of G/L accounts.
To add a job cost invoice
Adding the invoices is a relatively easy process, since
you'll be entering information right from the invoice. An
invoice can have one or many invoice line items. Each
line item is a separate job cost, and contains a job
number, task, net amount, and gross amount. Invoice line
items can also account for overhead expenses, such as
office supplies, but don't get a job number. Click
here for step-by-step instructions.
Cloning A/P Invoices
Cloning duplicates an existing accounts payable invoice
creating a new invoice. The cloned invoice has all of the
descriptions, instructions, options, and line items of
the original. Cloning is especially useful when you're
purchasing the same kind of products or services
routinely. Since cloning copies an invoice completely,
you'll spend much less time keying in the details.
Any job cost or overhead invoice can be cloned. The
cloned invoice has the same vendor, but it can be
changed. In fact, anything about the cloned invoice can
be changed. The cloned invoice gets its own unique
invoice number.
Cloning an accounts payable invoice is simple: First,
find the invoice you wish to copy. Choose Clone from the
Edit menu, enter any changes, then save the new invoice.
The original invoice's line items will be copied, too,
but they can be changed. The original accounts payable
invoice is unaffected by cloning. An invoice can be
cloned any number of times.
The Clone window closely resembles the Add Job Cost
Invoice or Add Overhead Invoice window (depending on
which type of invoice you are cloning). Information from
the original invoice, including the vendor, description,
and amounts is copied automatically from the original
invoice. Changing the new invoice doesn't affect the
original invoice.
To edit a vendor invoice
Vendor invoices in Accounts Payable can be edited once
they've been saved. Invoices are easily edited before
they are posted, since they haven't updated the vendor,
job, or General Ledger yet. But once an invoice is
posted, changes are limited to descriptions and notes,
unless you unpost it. Click
here for step-by-step instructions.
To distribute an invoice to many jobs and
tasks
Vendor invoices can contain many line items. Each line
item is a separate cost entry on job cost reports, and
creates a debit journal entry in the General Ledger.
Every line item can have a job number, task, net amount,
billable amount, and a debit G/L account number.
Click here for
step-by-step instructions.
To remove an amount from an invoice
1 From the Accounts Payable window, find an
invoice.
2 Select the line item you wish to remove by
clicking on it once to highlight it.
3 Click the remove
amount button.
To view a vendor's diary
The vendor diary does not keep an automatic log of every
vendor activity. That would create an immense number of
entries. Instead, the vendor diary is used like a daily
log. Anyone who works with one vendor account can make
notes about phone calls, meetings, etc. Click
here for step-by-step instructions.
To view an invoice's payments
The dates on which Accounts Payable invoices are paid are
updated automatically from posted checks. You can see the
check number and check date on the invoice by using the
View Payments command. Click
here for step-by-step instructions.
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