PAYMENT

How to make payment to venodrs

The next step is to make payments to vendors after making the purchase order. We have to go Peachtree software to maintain the payment of vendor, we go to Task Menu which is written on the top of the window and click on the Payments

When we select the payment tab ,we must be enter required information .This important information includes

       Vendor ID     

·        Check no

·         Date

·         Quantity

·        Items

·        Description

·        General ledger account

·        Unit price

·         Amount

1- First of all we enter the Vendor ID. If we have vendor account it is well good and if not we firstly maintain vendor account in Maintain Vendor Tab

2- In the front of vendor ID , we click on the box then show a window on our screen and then we enter necessary information that required to record the vendor .

3-We also this item in inventory ,if we don't have we go to Maintain Menu and select the Inventory Item and enter necessary information and save the data.

4-When we enter the information like

·        ID

·        Check n0

·        date

We enter the  quantity and some other information  and click on the block the discount amount will be shown.

Note: Those items for which we are making  payments  is in the purchase order .those information of items will entered in APPLY TO INVOICE. The information of those items who is not in the purchase order ,the payments will entered APPLY TO EXPENSES.

Purchase Order

Purchase Order

We use purchase order for the purchase request of the items from the vendors. When we post a purchase order, when we receive the items through purchase/inventory task on the purchase order ,the accounting information is only updated .The accounting information is also updated when you use cash accounting method to pay the vendor. The accounting information is not automatically updated.

Note: Before enter the purchase order, it must be entered Maintain Vendors already. We don’t want to keep the record, if we enter one-time purchase .We use only payments and leave the vendor ID field blank.

If we use Template toolbar button, change the display of the Purchase Order window. Choose the standard template, one of your own templates, or the customize templates option.

Print a purchase order

We don’t enter a PO number if we plan to print the Po/. Select the print button or print purchase order through Account Payable Reports

Process Of Purchase Order

1-We go to Task Menu and selects the Purchase Order Tab

2-The Peachtree software shows the purchase order window

3- Then we enter and select the vendor ID.  Click on lookup button and choose the required vendor. To add new vendor ,double click on vendor ID field and shows the window of Maintain Vendor.

4 -Enter the number of purchase order .

5- Enter the date in date field.

6- Enter the date where the good through in the Good Thru field.

7- If necessary ,change the discount amount. The default terms automatically fills in Display Terms.

8- If we use accrual system, we select the accounts payable G/L account for the purchase. This will be your accounts payable liability account in financial statements. If we use cash basis system the field will display <cash basis>

10- Enter the information of each item which includes

·        quantity

·        item ID

·        description

·        G/L account

·        unit price

·        amount

11- Entering items until you have completed the purchase order.

12- If we want to print we select the print button and save the order.If we don't to print save the order.