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Purchasing invoice for Accounting

hi there and this screencast we'll look at purchase invoices so I'm at the payables module I can quickly create a purchase invoice by simply clicking on the icon right here and then choosing my supplier I'm going to use Alphonse or I'm just gonna close this I can twirl Alphonse this is useful if you're at your home screen and create invoice so two ways to create an invoice Alphonse gets popped in in this situation and I'm gonna add their source document number this comes from their invoice it's on March 4th and we're buying some inventory items I'm just gonna stretch this out a bit so you can see what I'm doing a little better so I'll choose I'll get a list of all of my inventory items when I click on this little white field here this little a little triangle a drop-down or a twirl and I could choose the item I wish to purchase in this case we're gonna buy some brass instruments under the B one one five there and we're gonna buy five of those the price the average price that we pay have paid for this invoice to date is what gets popped in that price field if you'll remember back when we looked at inventory we were able to have the selling price but no purchase price the purchase price since age 50 is calculated with an average and it's only GST it's just G for the tax code so if it doesn't recognize the code that window will pop up inversely you can click on your little finder and choose the code there or you can just simply type in the code for the tax and we're also paying for Freight that also includes or GST is added on top of that and they're gonna give us 2 percent discount if we pay within 10 days net 30 so if you'll remember when we added shippers or sorry suppliers we added taxes and terms this supplier did not have those added that's why we had to populate those fields now we can look at what this looks like behind the scenes if we click on when I say behind-the-scenes I mean under the hood the actual bookkeeping I can click on report display purchases journal entry let me just make that smaller so you can see it there you go and you'll notice they use a standard a standard bookkeeping entry everything as you would expect now I'm gonna add a shipper to this invoice and that's the little little little yellow present flight's it here so if I just click on that and we only have to one it in my notes I use DHL but I only have the one shipper so I'm just gonna use fit a FedEx one two three and okay and to save this transaction we click on post if you see a different term here you may pick because you're using non accounting terms and okay now we recorded a memo for one of our suppliers that would create it in the daily business manager and you'll see that this invoice we just created also appears in the daily business manager and the daily business manager is located right here DBM we can also find it under business assistant I always just used the DBM so notice for March 14th notice its bold on the calendars it's because something happened on that day there a transaction or something was added to a memo so if you're if you're anywhere past the 14th note if notice as I click back on the 11th we don't see that memo that we added for the 14th so if you're on the 14th or any day pass you'll see all of the memos for those dates and we created an invoice with the pay later so if we if we look at payments do and scroll all the way down here you'll see that it tells us it's due on March 3rd that comes from our terms right sorry April 3rd we entered March 3rd for the date so the terms were 30 and it also tells us the discount date and that there's a discount available we can process the payment for this purchase right from the daily business manager which we'll see later on all right so that's one type of payables transaction let's quickly look at non inventory purchase there's a second purchase on account in my notes you can go ahead and enter that I'm just gonna jump ahead to the non immature inventory purchase so again I'm going to click on purchase invoice we have a vendor that doesn't yet exist in our list so we can add that vendor on this on the fly so I'm gonna click on purchase invoices and we've got a new supplier here loose stationery so we're buying some office supplies from Lou so when I hit tab because Lou stationery doesn't exist in my supplier list and asked me what I want to do as far as recording this record so the book has us do a full ad I'm gonna do a full ad but I'm not gonna have bother with the contact information we already saw how to add all of that I'm just gonna quickly jump over to options and again this is office supplies that we buy from them where the end consumer of office supplies they don't get any discounts and our tax is just TPMS t and we started working with March first on the address tab the supplier since field is on the address tab so you can add as much information as you like we're just gonna add those few bits so the point there is you can add a supplier on the fly as well as using our add suppliers here like we saw before alright so invoice number is 1 5 a 3 again that's their number that's why we have to enter it on it's not automatically generated when we sell items to customers those are automatically generated those invoices numbers by March 7th and we're buying and the Lopes and paper and the amount for that is 149 notice the account pops up because we added it to lose stationaries record and we're going to go ahead and post that and okay the next purchase invoice we'll look at is a co D purchase so we're paying for these items as we received them it's not going on account so transactions still an invoice notice that we have a few transaction types here we'll look at all of these later on and the method this time is check and we'll be using one zero six zero notice no check number pops in automatically so we want to add a check number to this bank account otherwise the check number won't increment as we write more checks we'll have to add a check number I'll basically have to look at our check stock and see the number there and then add it here but we can just do this once in a little increment automatically from that point so I'm just going to close my purchase invoice and go to setup settings and then under company under forms we're gonna make a few other changes while we're here we're going to add four sales quotes the next four number four numbers 50 so basically we would have a stack of free prints and we'd be looking at the next number on our stack of pre-pre prints purchase orders 100 these numbers will come up later that's why we're adding them now so that's where we add some numbers for some types of forms checks or forms as well but we add their numbers in a slightly different place so I choose okay I go to setup reports and forms and this is where we have the next check numbers this longer checks a little 1 0 6 0 and the next check number I'm gonna enter 3 1 3 and she's okay so now when I go to purchase invoices and I choose check the 3 1 3 it pops up and once I write a check it'll of course increment to 3 1 4 alright so now I'm going to add my vendor so this vendor we don't plan on ever seeing again their one-time vendor maybe they're rude to us or something like that so we're not talking going back so when I hit tab to leave this field again it get this little message this situation this is a one time supplier and okay notice once I choose my supplier here all of this changes back so that's a bit a little bit of a strange hiccup there so I have to go back and change this to check and then we're in business again be aware of that generally when I fill out a form I could work from top to bottom but with these purchase invoices you have to choose your supplier first and then go up to the line above it and now I'll add the rest of my information this adg 1937 is having a March 10th and we're buying some corner desk units for our own use and their 479 each for $39.99 we paid both GST an PST so you could just enter the code there or again you can click on your little finder and pick the code notice I enter a price I get no tax or amount until I enter a quantity so we saw the amount before but if you enter a pricey after I enter quantity and we added that vendor on the fly so the account doesn't automatically pop in as no way of knowing what account two effects so we're gonna go ahead and pick office furniture was just an asset I can write the depreciation off on that notice we have a create button here so you can actually create accounts on the fly as well if you don't have the account or if you require in your list already now we're paying at the time of purchase so they're gonna give us a $96 discount which is about 10% get after a percentage or a dollar amount in this field no Freight and if I look at the journal entry again it's under report purchase journal entry you'll notice accounts payable is not effective well there it is for GST paedo purchases but there's no sub ledger for a DG fresher Emporium accounts payable effective and I'll go ahead I'll go ahead and post and we'll do one more a recurring entry so it's the purchase invoice we're paying by check and we're using our landlord again notice when I picked that this changed back again we pay by cheque and notice the check number increments and this is March 2017 they don't need a source document number for a rent and let's say give us a receipt then we could use that number I guess we have to pay the rent on the first and they store rat Hey GST for commercial rent the amass 2250 and our account is ret expense 5,000 numbers or expenses and that's rent now we pay this every month so instead of keying this in we can just store this as a recurring transaction like we saw with a general journal the only thing that will change when we recall it is the date everything else will remain the same so that'll bar errors so I'm gonna go and use this little stores recurring transaction button if we saw before with their general journal and I'm gonna call this store rent monthly frequency but we have all of these options monthly is what we need for rent and she's okay and I'll go ahead and post and so that's a variety of different transactions we can handle with the purchase invoices pay later Zod and recurring thanks so much for watching talk to you soon