CLIENT BOOKKEEPING SOLUTION ACCOUNTS PAYABLE. Getting Started. version 2007.x.x

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CLIENT BOOKKEEPING SOLUTION

ACCOUNTS PAYABLE

Getting Started

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TL 20745 (06/08/09)

Copyright Information

Video display images copyright 1997 – 2009 by Thomson Reuters/Tax & Accounting. All rights reserved. Thomson Reuters hereby grants licensees of CS Professional Suite® software the right to reprint this document solely for their internal use.

Trademark Information

The trademarks used herein are trademarks and registered trademarks used under license.

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1 Welcome!

Client Bookkeeping Solution® (CBS) Accounts Payable is an optional

module that adds data-entry options to your CBS software, allowing you to enter payables, track deadlines, and control discounts taken or lost. It also allows you to produce several different kinds of accounts payable reports. You can print detailed or summary information for each of your vendors, determine current cash requirements, review aging information for overdue amounts, and total purchases within a specified period. CBS also offers a direct deposit feature that can enhance your Client Bookkeeping Solution software package. If your accountant enables this feature and you have established a relationship with InterceptEFT Corporation, you can use CBS to process and make electronic payments to your vendors.

At the end of each CBS processing period, you export your CBS CheckWriter™ and CBS Accounts Payable transactions to your accountant.

Where to begin

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Welcome!

each field or option. For more complete information on using your CBS software, open the Client Bookkeeping Solution help topics.

Once you have a basic understanding of the CBS CheckWriter and CBS Accounts Payable modules, you may find it helpful to step through the detailed exercises in the Client Bookkeeping Solution Tutorial. The CBS tutorial is available in portable document format (PDF) in CBS. To view this tutorial, choose Help / PDF Guides / CBS CheckWriter / CBS

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2 CBS Accounts Payable Program

Features

If you and your accountant decide that the CBS Accounts Payable module is appropriate for your company’s accounts payable needs, and you add this optional module to your CBS software, you can perform the following tasks when processing payables from your company’s vendors: Customize your CBS Accounts Payable windows and dialogs. Define and set up discount and payment terms based on timely

payment.

Maintain payable records for vendors. Add new vendors on the fly.

Record both a primary address and a mailing address for your vendors, if desired.

Handle payments to businesses or individuals where only a portion of a payment is reportable on Form 1099.

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CBS Accounts Payable Program Features

Calculate and track critical payables information, including due dates, discount dates and availabilities, open-item balances for each vendor, calendar and fiscal year-to-date information for vendors, cash requirements and aging information for overdue payables, and more.

Print accounts payable checks and enter handwritten checks, EFT payments, cash payments, and vendor-issued credit memos to maintain an accurate checkbook balance and up-to-date payables information.

Create mailing labels for your vendors using the Vendor List report. Export your CBS Accounts Payable transactions with your CBS

CheckWriter transactions to your accountant.

CBS Accounts Payable reports

Cash Requirements

Cash Requirements Projection

Aging Schedule

Payable / Payment List

Purchases Journal

AP Transactions List Vendor Activity Vendor List

For more information about each report, search on Accounts payable

reports from the Index tab of the Help Topics dialog, and then select a

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CBS Accounts Payable Program Features

CBS direct deposit feature

If your accountant has enabled the direct deposit feature for your CBS program, you can take advantage of the direct deposit capabilities for vendor checks entered in CBS CheckWriter or CBS Accounts Payable. InterceptEFT (intercepteft.com) is a third-party processing agent that specializes in transferring funds electronically through the Automated Clearing House (ACH) network. InterceptEFT provides a service that converts electronic payment system (EPS) records generated in CBS into ACH-format files and then transmits the ACH files to the appropriate financial institutions. You must first establish an account with

InterceptEFT before you can submit EPS records to InterceptEFT. For detailed information on setting up and using the direct deposit feature in CBS, please refer to the help topics in the program and to the direct deposit guide. To view or print this guide in PDF, choose

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3 Program Overview

This chapter of the getting started guide provides a brief overview of the main features in the CBS Accounts Payable software.

Menu options

When a company database is open, the menu bar across the top of the CBS application window includes options that allow you to perform various tasks or access different program features. The following table lists the CBS functions that are accessible from the menu commands.

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Program Overview

Edit menu Searching through a drop-down list or listview pane; cutting, copying, and pasting text; specifying fields to skip; restoring information in the current field or record; deleting, adding, copying, and pasting selected text; adding a note to your accountant to attach to any transaction; specifying filters; finding a specific record within a data-entry window; switching to Quick Add mode.

For CBS Accounts Payable: Switching between historical and

regular data-entry mode; recording a payment memo; setting an export date override; taking discounts that have expired; removing payments; removing the historical status of a selected record; viewing vendor details (1099 totals, YTD and open balance amounts, mailing address).

Checkbook menu

Opening a checkbook to enter checks, deposits, other bank items, and checkbook adjustments (if directed by your accountant to do so); setting up a new checkbook, including checkbook-specific security; consolidating regular checks when multiple checks exist for a single payee or vendor; choosing a default checkbook for each licensed module; viewing bank transactions downloaded from your financial institution (if enabled by your accountant).

Tasks menu

Recording journal entries; voiding / deleting multiple checks; creating on-demand transactions; submitting transactions to your financial institution and updating the transaction submit status (if enabled by your accountant).

If your accountant has enabled the direct deposit feature: setting up and transmitting electronic payment system (EPS) records to InterceptEFT.

For CBS Accounts Payable: Entering payables and payments;

applying payments to open payables.

Setup menu

Adding or updating information for the Chart of Accounts, employees, vendors, memorized transactions, and financial institutions; defining filters, user-defined lists, and report groups.

For CBS Accounts Payable: Setting up payment terms. Utilities

menu

Opening the Layout Editor for check and form layouts; displaying the CBS shortcut bar; setting administrator options; choosing options for using CBS (including data-entry options and folder locations); customizing the display of toolbars; resetting view defaults; importing spreadsheet data.

Window menu

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Program Overview

Help menu Opening the Client Bookkeeping Solution help topics; viewing PDF guides; viewing custom help from your accountant (if provided by your accountant); accessing the Adobe website to install Adobe Reader; viewing frequently asked questions; using the Internet to upload data to the software vendor; viewing CBS diagnostic files; viewing information about your CBS software.

Predefined check and form layouts

When you set up a new accounts payable checkbook in CBS, you need to select the default layout for each selected transaction type for all CBS checkbooks. You can select layout(s) on the General tab of the

Checkbook / Setup window.

A number of predefined check layouts and form layouts are included with your CBS software:

Transaction type Filename extension

CBS CheckWriter vendor checks VLY Noncalculating payroll checks NLY

Deposit slips DLY

CBS Accounts Payable vendor checks PLY

To view a PDF with descriptions of each of the predefined layouts that are included with the CBS Accounts Payable software, choose Help /

PDF Guides / CBS Accounts Payable / CBS Accounts Payable Predefined check layouts. For information on CBS CheckWriter

layouts, choose Help / PDF Guides / CBS CheckWriter / CBS

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Program Overview

Filtering the list of transactions

You can define filters to limit the list of items displayed in the Tasks / AP Transactions window and in the Tasks / Apply AP Payments dialog. You can open the Payable Filters dialog using any of the following methods. Choose Setup / Filters / Payables.

Choose Tasks / AP Transactions. In the AP Transactions window,

click the Filters button.

Choose Tasks / Apply AP Payments. In the Apply AP Payments

dialog, click the Filter button.

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4 CBS Accounts Payable

Procedures

If your accountant has customized your Client Bookkeeping Solution software to include the features of CBS Accounts Payable, many more menu commands and window options are available for selection. This chapter provides a brief overview of special setup and data-entry procedures that are unique to CBS Accounts Payable. As you are reading this section of the getting started guide, and as you are

reviewing the CBS Accounts Payable topics in the help, we recommend that you open and work with the CBS Sample Company.cbs database that is provided with your CBS software and licensed for CBS Accounts Payable.

All of the windows, dialogs, and procedures available in CBS Accounts Payable are fully documented in the Client Bookkeeping Solution help topics.

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CBS Accounts Payable Procedures

For details about using the fields on this tabbed page, search on

Company Properties:Accounts Payable tab from the Index tab of the

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Setting up payment terms

CBS allows you to set up payment terms to automatically calculate the payable’s due date and discount date (the last date on which the discount is available) and the discount amount. Once you set up a payment term in CBS, you can select it for any vendor while adding vendor information. Payment terms are normally defined by the vendor.

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Setting up vendors

In CBS, a vendor is anyone for whom you have assigned a vendor ID and a vendor name. Please consult with your accountant if you have questions about whether you need to track Form 1099 information for a specific vendor.

To create or modify a vendor record, choose Setup / Vendors.

Tips

If you previously used CBS CheckWriter to process vendor transactions, any vendors previously listed in CBS CheckWriter automatically become vendors in your new AP Vendors database. Accounts payable reports and vendor totals (except Form 1099

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the Checkbook data-entry window unless your accountant has set up your program to display these vendors as payees.)

If you are licensed for the optional CBS PayCheck module, the program automatically creates accounts payable records for payroll liabilities (such as the taxes withheld from payroll checks) as they are incurred.

If you deal with a particular vendor only once (or on rare occasions), and you do not need to maintain year-to-date balances or Form 1099 information for that vendor, you can set up that vendor as a

temporary vendor. If you mark the Temporary vendor checkbox in the AP Vendors window, CBS deletes all records for the vendor if there are no open payables when you export to your accountant. Note: The Temporary vendor checkbox is available only when the 1099 checkbox (on the General tab) and PayCheck Vendor checkbox (on the Payable Setup tab) are unmarked.

For more information on AP vendors, search on Vendors (accounts

payable) from the Index tab of the Help Topics dialog, and then select

the help topic to display.

Entering a vendor mailing address

If your vendor has more than one address, you can enter a second or alternate mailing address for that vendor. CBS uses the address on the General tab of the AP Vendors window to populate the mailing address. The predefined AP check layouts use the mailing address. When setting up the check layout to use for your accounts payable checks, you can select either address.

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Entering payables and payments

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Tips

You can add vendors on the fly from the Tasks / AP Transactions window by entering a unique ID in the Ven ID field.

You can use the Tasks / AP Transactions window to record payables, payments, prepayments, credit memos, and electronic funds transfers.

To distribute the gross amount of a payable to more than one general ledger account, enter the distribution on the Distributions tab.

Use the Tasks / Apply AP Payments dialog to apply payments to one or more payables, consolidate multiple payables for payment with a single check, and select the payables to pay.

To print a check for a specific item in the Tasks / AP Transactions window, highlight the item in the Payables listview and click the Print button.

To record a future-period AP transaction, simply enter an invoice date beyond your company’s next export date. CBS will not transfer future-period items to your accountant until the end of the period in which they become current.

Setting up a recurring accounts payable transaction

CBS Accounts Payable includes a special timesaving feature that allows you to set up a recurring payable or payment for any non-temporary AP vendor. This is especially useful for handling periodic fixed expenses such as rent or loan payments.

To set up a recurring transaction for a vendor, choose Setup /

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CBS will create transactions from these memorized transactions, based on the frequency you specify. After the program has created the

transaction from the memorized transaction, you can edit that

transaction, delete it, pay it (payable), or apply it (payment) just like any payable that you’ve entered manually.

Creating on-demand payable transactions

Once you set up a memorized payable transaction, you can manually create a payable from that transaction at any time.

AP Transactions window

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Select memorized transactions to use

To view a list of available memorized payable transactions, choose

Tasks / Create On Demand Transactions / Payable transactions. In

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For more details, search on Memorized transactions:working with

memorized transactions in CBS from the Index tab of the Help Topics

dialog.

Applying payments

When you’re ready to pay your payables, you can use the Apply AP Payments dialog to select open payables for full or partial payment. To open this dialog, choose Tasks / Apply AP Payments.

If you marked the Automatically consolidate selected checks to the

same vendor checkbox on the Accounts Payable tab of the File /

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If there are any unapplied payments available, you can apply them to any open payables for the same vendor. Select a payment group number in the Apply Pmt column for the payment, and then select the same payment group number for each payable to which you want to apply the payment.

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For more details on applying payments, search on Applying AP

payments from the Index tab of the Help Topics dialog. Tip

To have CBS apply payments to the oldest payables first, mark the

Apply payments balance forward checkbox on the Accounts Payable

tab of the Company Properties dialog. If you also mark the Use best

match checkbox, CBS will apply payments to payables with the amounts

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Printing AP checks

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For additional information, search on Checklist:for printing checks and

deposit slips from the Index tab of the Help Topics dialog.

Printing AP reports

When your company’s CBS software is licensed for the CBS Accounts Payable module, you will see an Accounts Payable tab in the File / Queue Reports dialog.

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Click the Options button associated with a report to choose print

options for that report.

You can define vendor groups for reporting purposes by choosing Setup / Groups / Vendor.

You can preview the selected reports (but not checks) by clicking the Print Preview button. From the Preview window, you can save these reports in a variety of file formats or save them as attachments to email messages by clicking the Export button on the toolbar. For details on report printing, search on Checklist:for previewing or

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5 Exporting Files to Your

Accountant

At the end of the CBS processing period, you export all CBS Accounts Payable transactions with the CBS CheckWriter transactions to your accountant. During the export, CBS deletes vendor records for any temporary vendors with no open payables.

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CLIENT BOOKKEEPING SOLUTION ACCOUNTS PAYABLE. Getting Started. version 2007.x.x