Accounts Payable


J

Joey

Is there a way I can move an amount in a liability account to a vendor
in accounts payable. The only way I seem to be able to do this is by
doing a journal entry, but that way I cannot associate the amount with
a Vendor.

Cheers

Johann
 
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R

Ralph A. Jones

Johann -

Bring up the Accounts Payable interface. Enter your vendor. In the
invoice "number" area, enter something like "X-fer to A/P 021604". On
the first line of the invoice, enter something like "Transfer from
Liability Account xxxxx to Vendor Ledger". Make sure the offsetting
posting account is your liability account containing the amount you want
to transfer (instead of the normal expense or COGS account) (Depending
on your version, you may need to go to the "Journal" button to do this.)
Enter the amount you are transferring and "Post" or "Save" it
(depending on whether you are using batch or real-time).

Done.

HTH
 
J

Joey

Thanks very much Ralph this sent me on the correct path.

Second, do you have a simple way of doing progress billing on stock
items/manufactured assemblies.

Regards

Johann
 
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R

Ralph A. Jones

Johann -

I do not have experience in manufacturing environments. Sorry. I can
imagine there are about a zillion issues pertinent to proper income
reporting (based on percentage completion, allocation of labor costs,
timing of income/expense, valuation of inventories, etc., etc.) that you
would need some solid advice on from your CPA. That said, and if I
understand correctly what you are asking, the *most* simple way would be
to ignore the stock items/assemblies for the progress billings. Simply
set up a liability account called something like "Work-In-Progress
Billings", then do progress invoices with a single line item (non-stock)
posting to "W-I-P Billings". On the final invoice enter all of your
stock items/assemblies, but also enter a line with a negative amount for
the total of all of your progress receipts (making sure that this line
posts to "W-I-P Billings"). All fine, right? Wrong. What happens when
your W-I-P traverses a fiscal year end? Your taxing authorities will
likely want a bite at a portion of the earned and paid revenue on those
progress payments. So simple has just become not-so-simple.

You may want to start a new thread with your question in order to
attract the attention of people who are using Peachtree in a
manufacturing environment. They would likely be more helpful than I.

But while I am rambling, if you have decided to use stock
items/assemblies (which, of course, you don't have to -- you make this
choice only if you want Peachtree to do "behind the scenes" cost
accounting for you instead of doing the cost accounting manually
yourself), then it occurs to me you have at least two choices:

1) Figure out how many widgets, do-dads and bobblywonks it takes to
complete 'x' percent of your job at each level or percent complete you
issue a progress billing -- "sell" them this many widgets, do-dads and
bobblywonks in the progress billing.

2) Do the same figuring as in one, but create an assembly called
something like "GIZMO-25" (representing the totality of widgets, do-dads
and bobblywonks necessary to complete 25% of the job), then "GIZMO-50"
and "GIZMO-75" and so on -- you get the picture.

And now let's say you want to keep track of income/revenue by job,
particularly for those pesky fiscal year-end traversals. Enter
Peachtree's Job Costing and a new level of not-so-simple (but completely
'do-able'). And so on, and so on. It's never easy. But that's why our
bosses are willing to issue us paychecks each week, at least in theory.
;-{)>

Good luck!
 

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