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.
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.
Accounts Payable is seemlessly integrated with
the vendor files, jobs and tasks. This means that
once a payable is saved, many things are updated
at once: the vendor balance increases and the invoice's
cost and gross amounts increase the job's totals.
This tutorial
video shows how to add a job
cost invoice, and check its net and gross amounts.
To use the Accounts Payable window
1 From the Home page, choose Accounting > Accounts
Payable.
The Accounts Payable window opens, displaying
the last added payable.
Use the Accounts Payable window's toolbar buttons
to add, edit, delete, and print reports.
Click the next or previous buttons to select
the next or previously added invoice. You can find
a payable by entering its invoice number then clicking
the find button.
To add a payable
When a payable is distributed to jobs and tasks,
the amount distributed must equal the invoice's
total amount. If not, the user will be prompted
to adjust the payable's distribution amounts until
they balance.
1 From the Accounts Payable window, click the
add button.
2 Use the vendor pull-down menu to select the
vendor you want to add this payable for.
3 Enter the invoice number for this payable.
4 Enter the terms and due date.
5 Enter the total amount due to the vendor.
6 Enter a description for the payable.
7 Enter the distribution for the payable.
Each distribution amount should have a job number,
task, net cost amount, markup, and gross amount.
8 Click Save.
Once saved, the payable will appear in the Accounts
Payable window. The Days Until Due counter will
show when the payable needs to be paid.
To edit an invoice
1 From the Accounts Payable window, find an invoice.
2 Click the edit button.
3 Make your changes, then click Save.
To delete an invoice
1 From the Accounts Payable window, find the invoice.
2 Click on the delete button.
Once the payable is deleted, its number can be
used again.
To print reports
1 From the Accounts Payable window, click on the
print reports button.
2 Choose which report to print.
3 Click Print. |
