Lesson Eight Using Accounts Payable (Suppliers)

Transcription

1 Lesson Eight Using Accounts Payable (Suppliers) Accounts Payable transactions can be entered in a variety of ways. Purchase Orders can be entered and printed to request products or services from your vendors. The Purchases/Receive Inventory task allows you to fill purchase orders or enter bills directly. Purchase invoices/vendor bills can be paid using the Payments task. You have the option of paying one vendor at a time or paying a group of vendors. Each transaction updates the journals, which in turn update the General Ledger. However, the Purchase Orders Journal does not update the General Ledger. Accounts Payable reports organize the transactions entered and display the information in a way that helps you better manage your vendor-related tasks. The flow of Accounts Payable tasks is illustrated below: Purchase Orders Purchase Orders Journal Purchases/ Receive Inventory Credit Memo Purchases Journal General Ledger Payments Cash Disbursements Journal Void Checks

2 Entering Purchase Orders On the Purchase Orders window you can enter and print purchase orders for your vendors. Purchase orders can be edited by adding or removing line items. Sage 50 automatically closes a purchase order when all the items on it have been received, but also gives the option of manually closing it if necessary. To enter a purchase order Click Tasks Menu Button - Click Purchased Orders Or Click Vendors and Purchases Navigation Bar Button Select Purchase Orders Button Click New Purchase Order

3 Purchase Order Window The Purchase Orders window is used to enter and print purchase orders for inventory and supplies ordered from vendors. How to Enter the Information to Purchase Order Window Select Vendor ID from the list that you are expected to purchase the goods Then Computer Automatically Take Remit To and Ship To information s from early set defaults - Select the Purchase Order Date from the calendar Select Expected date of Goods Thru Enter the Purchase Order No (If you planed to print the PO then leave this box blank) Enter Customer Invoice No (this should be the vender invoice no) - Select Accounts Payable Account Code Select Product Item from Item List Enter the Quantity Select GL Cost of Sales Account - Click Print Select Print Preview Click Save Class Activity Select Vendor ID (EWIS001) Select PO Date (02/04/2015) Select Expecting Date (10/04/2015) Enter PO No (PO1163) Ship Via (Company Delivered) GL Account Payable (20,000) Item (HPLASP) Quantity (2) GL Inventory Account (12,100) Unit cost (Rs.20,000) - Click Save Select Vendor ID (DIGIT001) Select PO Date (30/05/2015) Select Expecting Date (11/06/2015) Enter PO No (PO1164) Ship Via (Company Delivered) GL Account Payable (20,000) Item (BLMP2 WEB CAM) Quantity (30) GL Inventory Account (12,150) Unit cost (Rs.3,000) - Click Save

4 Editing Transactions Posted transactions can be fully edited throughout Sage 50 if the following conditions are true: 1. The transaction is posted in one of the currently available accounting periods. 2. The transaction is a purchase order or sales order not yet filled. 3. The transaction is an invoice with no associated payments. To edit a transaction, Or Click list in the menu bar Select relevant area (Customers & Sales, Vendors & Purchases or Inventory & Services) - Select relevant transaction type Select List from any transaction window The associated list window opens, listing the transactions. - You can either select the transaction you need to edit and click Open, or simply double-click the transaction you need to edit. - The transaction opens in the window. - Make any changes necessary - then click Print to reprint the transaction or click Save to save changes. Class Activity Edit (PO1163) New Quantity (4) Click Save Purchasing and Receiving Inventory / Entering Bills The Purchases/Receive Inventory window allows you to receive items on a purchase order and enter vendor invoices and bills.

5 How to enter the Bills Click Tasks menu Button - Select Purchases/Receive Inventory Or Click Vendors and Purchases Navigation Bar Button Select Enter Bill Button Click New Bill

6 Purchases/Receive Inventory Window The Purchases/Receive Inventory window is used to enter bills from vendors and to receive inventory that arrives from suppliers. Entering the Bills against Purchase Orders Select the Vendor ID Select Invoice Date - Enter Purchase Invoice No Select Apply to Purchase Order No. from the List - Select the Shipping Method - Select the Account Payable Account No Enter the Received Quantity (Full or Part) Select Apply to Purchases Tab Enter the VAT description Select the GL VAT Control Account Enter the total VAT amount Click Save Entering the Bills without Purchase Orders Select the Vendor ID Select Invoice Date - Enter Purchase Invoice No Select Apply to Purchases Tab from the List - Select the Shipping Method - Select the Account Payable Account No Select Item - Enter the Quantity Select GL Inventory Account No Go to the next raw Enter the VAT description Select the GL VAT Control Account Enter the total VAT amount Click Save Drop Ship Check Box - Select this check box to specify a drop shipment from a vendor directly to a customer.

7 Waiting On Bill Check Box - Select this check box if a shipment of inventory is received without a vendor invoice. This allows the receipt to be recorded and inventory to be updated. The invoice is not available for payment until the transaction is edited by selecting this check box and saving again. Class Activity 1. Creating bills against POs i. Select the Vendor ID (EWIS001) Select Invoice Date (11/04/2015) - Enter Purchased Invoice No (PI0455) Select Purchase Order No (PO1163) - Enter the Received Quantity (4) Select Apply to Purchases Tab Enter the VAT description (Purchase VAT EWIS) Select the GL VAT Control Account (23,100) Enter the total VAT amount (Rs. 8,800) Click Save ii. Select the Vendor ID (DIGIT001) Select Invoice Date (15/06/2015) - Enter Purchased Invoice No (PI0456) Select Purchase Order No (PO1164) - Enter the Received Quantity (20) Select Apply to Purchases Tab Enter the VAT description (Purchase VAT DIGIT001) Select the GL VAT Control Account (23,100) Enter the total VAT amount (Rs. 6,600) Click Save 2. Create a New Bill without a PO: i. Select the Vendor ID (SOFT001) Select Invoice Date (13/04/2015) - Enter Purchase Invoice No (PI0457) Select Ship Via (Customer Pickup) Select GL Account payable Account No (20,000) - Select Item (15LEDMO) - Enter the Quantity (15) Select GL Inventory Account No (12050) Enter the VAT description (Purchase VAT SOFT001) Select the GL VAT Control Account (23,100) Enter the total VAT amount (Rs. 27,000) Click Save ii. iii. iv. Select the Vendor ID (SOFT001) Select Invoice Date (08/05/2015) - Enter Purchase Invoice No (PI0458) Select Ship Via (Customer Pickup) Select GL Account payable Account No (20,000) - Select Item (CPU) - Enter the Quantity (25) Select GL Inventory Account No (12000) Unit cost (Rs.25,000) Enter the VAT description (Purchase VAT SOFT001) Select the GL VAT Control Account (23,100) Enter the total VAT amount (Rs. 68,750) Click Save Select the Vendor ID (MC001) Select Invoice Date (13/05/2015) - Enter Purchase Invoice No (PI0459) Select Ship Via (Customer Pickup) Select GL Account payable Account No (20,000) - Select Item (WIN 8.1) - Enter the Quantity (30) Select GL Inventory Account No (12,200) Unit cost (Rs.10,000) - Enter the VAT description (Purchase VAT S MC001) Select the GL VAT Control Account (23,100) Enter the total VAT amount (Rs. 33,000) Click Save Select the Vendor ID (SK001) Select Invoice Date (12/06/2015) - Enter Purchase Invoice No (PI0460) Select Ship Via (Customer Pickup) Select GL Account payable

8 Account No (20,000) - Select Item (KBD) - Enter the Quantity (50) Select GL Inventory Account No (12,150) Unit cost (Rs.1,000) Enter the VAT description (Purchase VAT SK001) Select the GL VAT Control Account (23,100) Enter the total VAT amount (Rs. 5,500) Click Save v. Select the Vendor ID (SOFT001) Select Invoice Date (20/06/2015) - Enter Purchase Invoice No (PI0461) Select Ship Via (Customer Pickup) Select GL Account payable Account No (20,000) - Select Item (MOUSE) - Enter the Quantity (100) Select GL Inventory Account No (12,150) Unit cost (Rs.500) Enter the VAT description (Purchase SOFT001) Select the GL VAT Control Account (23,100) Enter the total VAT amount (Rs. 5,500) Click Save vi. Select the Vendor ID (SOFT001) Select Invoice Date (20/06/2015) - Enter Purchase Invoice No (PI0462) Select Ship Via (Customer Pickup) Select GL Account payable Account No (20,000) - Select Item (MOUSE) - Enter the Quantity (100) Select GL Inventory Account No (12,150) Unit cost (Rs.500) Enter the VAT description (Purchase SOFT001) Select the GL VAT Control Account (23,100) Enter the total VAT amount (Rs. 5,500) Click Save Editing/ Deleting Entered Bills If you want to edit the saved bills; Click Vendors and Purchases Navigation Bar Button Select Enter Bill Button Click View and Edit Bills Select necessary Bill from the list Double Click the Bill or Click Open tool button Do the necessary changes and Click Save If you want to delete the saved bill; Click Vendors and Purchases Navigation Bar Button Select Enter Bill Button Click View and Edit Bills Select necessary Bill from the list Double Click the Bill or Click Open tool button - Click Delete Button Confirm the Deletion Click OK Class Activity 1. Edit Purchase Invoice No (PI0455) Change Invoice Date (15/04/2015) 2. Delete Purchase Invoice No (PI0462) Entering Vendor Credit Notes Vendor Credit Memos are used to record goods returns to Creditors How to enter the Vendor Credit Memos Click Task Select Vendor Credit Memos Or

9 Click Vendors and Purchases Navigation Bar Button Select Credits and Returns Button Select New Vendor Credit Memo Vendor Credit Memo Window Vendor Credit Memo window is used to enter credit memos for returns to a vendor. You can enter a credit memo as an open credit, or you can apply it to an existing invoice. Create Credit Memos against existing Purchase Invoices Select Vendor ID Select Date Enter Credit No Select Relevant Invoice No from Apply to Invoice No. Tab Enter Returned Quantity Enter VAT Amount relevant to the returned quantity Click Save Create Credit Memos as an Open Credit Select Vendor ID Select Date Enter Credit No Select Apply to Purchases Tab Enter Item Enter Returned Quantity Enter VAT Description (If VAT is Applicable to the Returns) Enter GL VAT Control Account No Enter VAT Amount Click Save Class Activity 1. Select Vendor ID (SOFT001) Select Date (15/04/2015) Enter Credit No (VCM001) Select Relevant Invoice No (PI0457) Enter Returned Quantity (1) Enter VAT Amount (Rs.1,540) Click Save

10 2. Select Vendor ID (SK001) Select Date (14/06/2015) Enter Credit No (VCM002) Enter Item (KBD) Enter Returned Quantity (2) Enter VAT Amount (Rs.220) Click Save