Touchstone Golf

Procedures to Enter Accounts Payable into Peachtree WebAccounting

Entering Invoices

  1. Go to Tasks, Purchases/Receive Inventory.
  2. Enter Vendor ID. If your vendor is not there, you will need to add it on a different screen. (See Below) You can look up the vendor from the pull-down list.
  3. Enter Purchase Date. This will normally be the date printed on the invoice. Exceptions will occur sometimes, usually at month-end. (See Below)
  4. Enter Purchase No. This is the invoice number printed on the invoice. This must be a unique number for that vendor (i.e. no duplicates) or Peachtree will not import that invoice. When you have an invoice that does not have an invoice number on it (most utilities), you can use the account number, but make it a unique number by adding the date after the account number. Example – 12345-011708, where 12345 is the account number and the invoice date is 1/17/08. If there is no account number (usually small companies), just use the invoice date for the invoice number.
  5. On the Line Items tab, enter a short description, the amount, and the G/L account #. There will be a default account number, but make sure it is correct each time. Use as many lines as needed if the invoice needs to be broken out into more than one account #. You can look up the account number from the drop-down list.
  6. You don’t need to enter anything into the Default Info tab, but the first time you enter an invoice, make sure the A/P Account number is 00.3010 – Accounts Payable.
  7. On the Payment Terms tab, enter the due date, discount amount, and the discount date. The discount date is the date by which it must be paid in order to receive the discount. We try to take discounts whenever we can.

Note: You cannot enter credit invoices in WebAccounting. Code and fax credit invoices to corporate for entry into Peachtree.

Adding Vendors

  1. Go to Maintain, Vendors.
  2. The Vendor ID is just the vendor’s name. Don’t worry about Type.
  3. On the Address tab, enter as much information as you have, starting with Company Name.
  4. On the Purchase/Payment tab, enter the default Purchase Account, which can be found on the drop-down list. This is the account number that Peachtree will try to use each time you enter an invoice for that vendor.
  5. On the Terms tab, enter the information under Due Date. Don’t enter a discount %. The discount amount has to be entered separately on each invoice, because Peachtree doesn’t usually figure it correctly. The default terms are Net 30. If that is correct, you can leave the Terms tab as is.
  6. Use the Custom tab if any of that information is available.

Dates

The invoice date will usually be the one printed on the invoice. However, after we close the books at month-end, we don’t want any invoices posted into the closed month. For instance, on February 15, you may get an invoice with a January date. If we have already closed January’s books, use February 1 as the invoice date. You can continue entering January dates until we close the books. Keep in mind that Peachtree will use the invoice date entered and the default terms to calculate a due date. If the above invoice was dated January 25 and the terms are net 30, the due date is February 24. Peachtree will calculate the due date as March 2, so you will have to be sure and change that when you enter the invoice. Also, when you receive inventory shipments right after month-end, be sure those invoices are entered into the new month, regardless of the printed date. Otherwise your cost-of-sales percentages will be way off.

When you finish entering invoices, fax them to the corporate office at 512-756-6611 and keep the originals. You will get a cash disbursements journal and an A/P aging from time to time so you will know what has been paid and what is still due. Be sure and reconcile the vendor statements regularly so you know if something has been missed.

Page 1 of 2