How to record payments in Peachtree
In order to maintain payments we will first of all opens PAYMENTS from
task tab
And a window will open
As we have maintained the vendor we then will select a specific vendor
and we will enter the required data which includes
1.
Check number
2.
Date of payment
If the
payment is made within the discounting period, we then will receive a discount
according to the terms and that discount is our income. Well if the payment is
made after discounting period, our discount will be lost.
The moment
we select the vendor ID the invoice tab shifts automatically to the
payment window.
3.
As the discount is received now we need to select the revenue account.
4.
Discount received is shown in the figure as follows
If P.O Is not
maintained then we will add vendor information and inventory items.
if we are making payment against invoice then the tab changes. need to elaborate this case.
ReplyDeletethe invoice tab shifts to the payment tab the moment we enter the "vendor ID"
ReplyDelete