Accounts Receivable Tutorial - Sage 50 Accounting

Learn the different ways to enter Accounts Receivable tranasctions using Sage Peachtree.

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the next topic is accounts receivable
accounts receivable transactions can be
entered in a number of different ways
we're going to learn how to enter quotes
and how to convert them into sales
orders and sales invoices will also take
a look at creating sales orders creating
sales invoices and entering receipts and
customer prepayments customers and
prospects often request pricing
information about goods and services a
company sells since they are not
actually purchasing products or services
yet they can be provided with a quote
quotes do not affect the general ledger
and they can be converted into a sales
order or sales invoice when the customer
accepts the quote to enter a quote
select quotes and proposals from the
customers and sales navigation center by
default the good through date of a quote
is set to one month passed the quote
date if necessary you can enter a
different date if you plan to print a
quote leave the quote number field blank
you'll enter it during the printing
routine if the quote was manually
written interac wote number in the quote
number field before saving the quote the
unit price displays the sales price of
the item selected for items tracked
through inventory you can select a price
level from the drop-down list if the
item is not tracked through inventory
you can manually enter cells pricey
after a customer accepts a quote it can
then be converted to a sales order or a
sales invoice simply by clicking the
convert button on the convert window
select the type of cells transaction
that you would like to convert the quote
to and then click OK
next let's enter cells order select
cells holders from the customers
themselves navigation center sales
orders are usually created when a
customer agrees to purchase items or
services but the items cannot be
immediately shipped the sales order
window allows partial orders to be
shipped and back orders to be tracked
the sales order number field displays
the sales order number assigned by sage
50 this number can be changed but you
cannot post duplicate sales order
numbers select the closed sales order
checkbox to manually close a sales order
a sales order is automatically closed
after all items are shipped next let's
take a look at sales invoices to enter
invoices select cells and voices from
the customers and sells navigation
center in addition to creating invoices
and bills for customers the cells
invoicing window is also used to invoice
customers for items that were entered on
sales orders
unlike quotes and sales orders invoices
do update the general ledger if the
selected customer has open sales orders
the applied to cells order number tab
appears select the cells order to be
filled from the apply to sales order
number drop-down list all open sales
orders for the customer are listed here
the remaining field displays the number
of items that remain outstanding on the
cells older this field cannot be changed
on this window enter the quantity to be
shipped to the customer in the ship to
filled this is also the number of items
that the customer will be invoiced the
amount field displays the value of the
ship qty times the unit price when
shipping an item not tracking inventory
enter the total price of the item in
this field you can quickly invoice a
sales order in full by clicking the
shift button and selecting all
if the selected customer does not have
any open cells orders the applied to
cells tab will appear by default believe
the invoice number field blank if you
plan to print the invoice later
otherwise entry number in the field and
click the Save button
to enter customer payments select
receive money from the customers and
sales navigation center when customers
pay invoices the amount they pay is
entered on the receipts window cash
cells can also be entered on this window
if a customer does not require a printed
invoice select the apply to revenue tab
to enter receipts for items not
associated with invoices when a customer
without open invoices is selected this
tab automatically displays the GL
account field displays the income
account for the customer or item
selected if necessary you can enter a
different account here if you do not see
the general ledger account column on an
accounts receivable task window you can
unhide it using the setting located in
the global options area of sage 50
accounting select the prepayment check
box to enter a deposit from a customer
after a prepayment has been posted it
can then be applied to one or more of
the customers outstanding invoices
select the apply to invoices tab to
receive payments against outstanding
customer invoices the discount field
displays the amount of the discount if
the invoice qualifies for one if
necessary the amount in this field can
be changed the discount amount cannot be
entered for a partially paid invoice
enter the amount to apply to the invoice
into the amount paid field when you
enter an amount you paid checkbox will
be selected automatically otherwise
simply click the pay check box to pay
the invoice and full if you accept
credit cards using a sage payment
solution
click the process button to swipe or
enter the customers credit card
information if you're not a subscriber
you can click the record button to save
important credit card information about
the cell including the transaction
authorized ation number and any
necessary comments
accounts receivable reports provide
information about your customers and
their associated transactions to preview
or print these reports select view all
customers and sales reports from the
customers and sells navigation center
the H receivables report shows open
unpaid invoices or unapplied credits by
customer invoices are listed in the
appropriate aging column as of the
selected report date this report helps
to resolve questions regarding
individual customer activity and
balances it is also useful for
determining customer bad that so the
proper year and adjustments can be made
the cash receipts journal list cash
receipts and the related general ledger
distributions for a selected date range
it displays individual amounts that make
up a cash receipt and other information
that a bank statement may not provide
the customer list report lists the name
address telephone number and resale
number of each customer as with all
peace tree reports you can add
additional information to this report by
selecting the columns button at the top
of the report this report is commonly
used as a customer contact list
the invoice register report
chronologically lists all invoices and
their amounts for a selected date range
it is useful for keeping track of daily
invoices
the cells Journal report lists all sales
invoices and credit memos for the
selected date range with related general
ledger distributions it can be useful
for reconciling cells and for verifying
general ledger postings
in addition to the reports shown here
there are several customers and sales
forms including cells order forms
packing slips invoice forms and receipts
these forms can be found in the forms
tab in the reports informs window and
each form can be customized with your
choice of fields styles and logos using
the form design window