21st Century Accounting Help - Payables

Vendor Invoices

Use the Vendor Invoices window from the Payables menu to record—

Purchases for invoices that you receive from vendors for merchandise or services purchased
Credit memos you receive recording a credit (decrease) to your account by the vendor

You also use credit memos to record decreasing adjustments to vendor invoices that are generated within your company and not in response to a vendor credit memo; for example, what is sometimes called a "deduction memo."

Debit memos you receive recording a debit (increase) to your account by the vendor

Account Prompts

When you set up Payables, depending on your company's requirements, you can configure a single set or any number of sets of default account prompts. You assign each vendor a set of prompts. Then, when you enter an invoice, the G/L distributions box displays the affected vendor's account prompts for fast, efficient data entry.

Control Account Sets

The system automatically posts charge invoices to the vendor account and to the Payables control account set that you can select when you enter the invoice. Invoices you pay immediately by cash are posted to the cash and discount accounts that belong to the control account set you select. Invoices you pay immediately by chequecheck are posted to the bank account you indicate in the invoice window.

Manual Checks

If you pay the invoice with a manual check, you can enter the invoice and the manual check that pays it at the same time. (Use Payables/Quick Checks to enter an invoice and print the chequecheck to pay it immediately.)

Right-Click Menu Actions

You can perform several actions on vendor invoice batches by using the right-click menu in the pane that lists the batches and their entries, on the left side of the Vendor Invoices window. Place the cursor on a batch name in the left pane and click the right mouse button. Among the general commands like Rename, New entry, Make recurring, and so forth, the menu also lets you choose these special actions:

Print batch listing. Print a report on paper, if you wish, showing all of the data entered for each invoice in the batch. The listing allows you to review the invoices on paper and verify your data entry and the batch total before you post the batch. The batch listing is initially displayed in the report Preview window. To print on paper, click the printer icon at the top of the Preview window.
Review batch. Display a summary list of the invoices in the batch showing entry name, invoice number, transaction date, and invoice total for each invoice. Double-click or press F2 on an entry to review the invoice in the Vendor Invoices window. This listing allows you to review the invoices online and verify your data entry before you post the batch.