Supplier Ledgers and Transactions


E

Einstein

(Also posted to uk.finance)

I'm thinking of moving to some accounts software but I have a general
question that I was wondering if anyone who had used similar software before
could answer for me. In software such as Sage and QuickBooks, etc, do you
tally a transaction to a supplier's ledger, or do you tally a transaction to
a supplier's invoice. The problem I've got is we sometimes pay off general
amounts of credit accounts, for instance

Invoice 1 £5000
Invoice 2 £7000
Invoice 3 £8000

We might then pay £6000 which obviously covers invoice 1 but only part of
invoice 2.

Basically what I'm saying is, we sometimes pay multiple invoices with one
cheque, and sometimes multiple cheques for one invoice !

How do software accounts package work this? Do you just have a general
ledger with transactions and invoices, and no way to actually tally
payment(s) to an invoice(s) ?
 
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D

Dave

(Also posted to uk.finance)

I'm thinking of moving to some accounts software but I have a general
question that I was wondering if anyone who had used similar software before
could answer for me. In software such as Sage and QuickBooks, etc, do you
tally a transaction to a supplier's ledger, or do you tally a transaction to
a supplier's invoice. The problem I've got is we sometimes pay off general
amounts of credit accounts, for instance

Invoice 1 £5000
Invoice 2 £7000
Invoice 3 £8000

We might then pay £6000 which obviously covers invoice 1 but only part of
invoice 2.

Basically what I'm saying is, we sometimes pay multiple invoices with one
cheque, and sometimes multiple cheques for one invoice !

How do software accounts package work this? Do you just have a general
ledger with transactions and invoices, and no way to actually tally
payment(s) to an invoice(s) ?
There are basically two ways to allocate payments to invoices:

a) payment on account of 6000 against the three invoices, followed by
full or part payments until all invoices cleared.

b) 6000 allocated to: Invoice 1 = 5000 : Invoice 2 = 1000 (leaving 6000
outstanding).

Dave
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P

Peter Saxton

(Also posted to uk.finance)

I'm thinking of moving to some accounts software but I have a general
question that I was wondering if anyone who had used similar software before
could answer for me. In software such as Sage and QuickBooks, etc, do you
tally a transaction to a supplier's ledger, or do you tally a transaction to
a supplier's invoice. The problem I've got is we sometimes pay off general
amounts of credit accounts, for instance

Invoice 1 £5000
Invoice 2 £7000
Invoice 3 £8000

We might then pay £6000 which obviously covers invoice 1 but only part of
invoice 2.

Basically what I'm saying is, we sometimes pay multiple invoices with one
cheque, and sometimes multiple cheques for one invoice !

How do software accounts package work this? Do you just have a general
ledger with transactions and invoices, and no way to actually tally
payment(s) to an invoice(s) ?
They have a purchase ledger.
 

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