2 questions/accrual acctg & aut withdrawals

[Michelle]

Hi.
I was wondering, how are automatic withdrawals from a checking account supposed to be handled in peachtree?
Also, in working with the accrual accounting system, what do you do when an invoice is dated say 9/27/01, but the service given is for October? Which period do you enter the purchase invoice in? Would you enter it in October, making up an October date for the invoice date or do you put it in September just because the invoice date was in that month?

[Unregistered]

answering second question.

The aim of the date is :
primarly to record the date you wish the transaction /purchase or sale to reflect in your accounts. If you feel the service is given in october post in Oct date .
The utimate effect is to see that you are paying
or receiving payment on the date due( which you will agree)say 30/90/120 days from the invoice. therby making your ageing correct. Terms of payment. most suppliers will agree that the terms
apply from the date the service is executed or the
goods are delivered than the date the invoice was raised.

SYDNEY

[Baytek]

If you use the Account Reconciliation Task, you can enter your automatic withdrawals through the Adjust button of the screen when you are reconciling your bank account.

If the withdrawal is repeated monthly, weekly, semi-monthly, etc. you can set up a recurring transaction in Tasks, General Journal Entry.

Vendor invoices are usually entered in the month of the invoice date.

For more information, email support@baytek.com.

Baytek
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California Colorado Nevada
www.baytek.com
800-487-3224