Expense / Bill / Miscellaneous

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An Operating Expense, or just Expense, refers to an invoice or bill from a Vendor for a good or service not related to a Project or Inventory Purchase Order.  Examples would be the company phone bill or rent for which a Purchase Order would not be created.  These expenses are usually connected with the general cost of operating the business rather than a particular purchase for a Client or for Inventory.

 

Vendor Invoice - Operating Expense

When adding an Operating Expense, the Vendor Deposit, Invoice, or Operating Expense Window has the following fields:

 

Pay With: The Pay With selection allows the user to choose the method of payment for the Vendor Deposit, either by Check/Wire Transfer or a Credit Card.  The "A Check" will be the only selection that can be made until a Credit Card Account has been defined in the Accounts Glossary or additional Accounts Payable Payment Type has been created.  For more information on defining Credit Cards in Design Manager, see Paying a Vendor with a Credit Card while adding additional A/P Payment Types is described in under Accounts Payable Payment Types and the Company Information Window - A/P Payment Types.

 

Vendor: This field displays the Vendor for which the Operating Expense is being recorded.

 

Invoice Number (Invoice #): Enter the Invoice Number that is printed on the vendor bill that is being recorded.  If the bill does not have an Invoice Number, enter the invoice date or current date or a short description such as "Rent 10/2008" into the field.  An Invoice Number of some nature, however, must be entered.

 

Invoice Date (Inv. Date):  Enter the date of the bill or invoice received from the Vendor.  If no date is available, use the current date or the date the bill was received.  An Invoice Date of some nature must be entered.

 

Due Date: The Due Date is the date by which the Check or other payment method needs to be received by the Vendor.  If the Payment Due Days is entered on the if the Vendor Window - Defaults Tab, the Due Date will default to the Invoice Date plus the amount of the Payment Due Days.  For example, if the Vendor has a Payment Due Days of 20, the Due Date will default to 20 days after the Invoice Date.  If no Payment Due Days has been entered for the Vendor, the Due Date will default to the Invoice Date.  A Due Date must be entered.

 

Transaction Description (Trans. Desc.): This is an optional field which allows the user to enter a brief description of the Operating Expense transaction.

 

Operating Expense Distribution Grid:  The Operating Expense Distribution Grid displays the Expense Distributions that comprise the Operating Expense.  The grid has the following columns:

 

Account Number (Acct. No.): This is the proper General Ledger Account Number into which the Expense will be recorded.

 

Account Name: The Name of the Account into which the Expense will be recorded.

 

Amount: The amount of the Expense attributed to the particular Account.

 

Project: If entering a Project Related Expense which will be joined to an existing Project for reimbursement from the Client, the Code of the Project will be displayed in this column.  For a full explanation on Project Related Expense, see Operating Expense or Miscellaneous Bill under Entering Vendor Invoices.

 

Description:  If entering a Project Related Expense, the Description of the Item that will be billed to the Client will be displayed here.

 

Add and Edit:  The Add and Edit buttons allow the user to enter a new Expense Distribution or revise an existing Expense Distribution on the Vendor Invoice Distribution Window, respectively.

 

Delete:  To remove an Expense Distribution, highlight the entry on the Operating Expense Distribution Grid and click the Delete button.

 

The following fields appear below the Operating Expense Distributions Grid:

 

Discount: The Discount field shows any cost reduction offered from the Vendor for early payment, if available.  The Discount will automatically be calculated if a Discount Percent has been entered on the Vendor Window - Defaults Tab.  Please note that the Discount does not reduce the merchandise amount!  The discount will reduce the amount of the Check, Hand Check/Wire Transfer or Credit Card payment when paying the Vendor.

 

Days To Take: This is the number of days from the Invoice Date that payment must be made in order to receive the Discount from the Vendor.

 

Amount Due: The Amount Due is the total of the Amounts from each of the Expense Distributions. This must match exactly the total amount of the Vendor Invoice or bill currently being recorded!

 

Notes:  Any internal information regarding the Operating Expense can be entered in the Notes field.  The Notes will be displayed on the Existing Vendor Payables Grid of the Vendor Deposits, Invoices, and Operating Expenses Window - Existing Tab and certain Accounts Payable reports.

 

Hand Check/Wire Transfer (Hand Chk / Wire Trans): If a hand written check, wire transfer, or debit card is used to pay the Vendor Invoice, click this button to open the Hand Check / Wire Transfer Window.  The Hand Check / Wire Transfer Window allows the user to enter a Check Number, or automatically create a Wire Transfer Number, and date to record the payment in the Checkbook.