PEACHTREE -- Payments

Payments

We click on ‘Task’ in menu bar and click on “PAYMENTS”.

As we select payments, the following prompt window will appear:

In the above prompt window we will have to select a cash account for the use of particular payment transaction. Now as we click ‘OK’ the below default payment window will appear:

The above displayed payment window includes two tabs:

1.     Apply to Expenses

2.     Apply to Invoices

First in the tab of ‘Apply to Expenses’ payments will be for expenses. Here,  

Ø Enter the name of expense in ‘Pay to the Order of’.

Ø Enter check number.

Ø The date of payment is entered.

Ø In case of Apply to Expenses we don’t enter quantity, item, and unit price. But we enter detail of an expense in description.

Ø Enter GL account of particular expense.  salaries expense account.

Ø Enter total amount of expense and click ‘SAVE’ button.

In this way the payments are made for expenses.

Now in the tab of ‘Apply to Invoices’ when we select a vendor then ‘Apply to Expenses’ tab automatically shifts to ‘Apply to Invoices).

Now here ‘invoice’, ‘due date’ and ‘amount due’ will automatically be displayed because we have made purchase already from the particular vendor. So we have to enter description.  

Now we enable pay box in the pay column.

After this we click ‘SAVE’ button.

In this way the payments are made for invoices.-