Purchases

In this section of the Easy Setup Assistant, you can set up default preferences about your vendors and other purchase-related information.

Layout   

AccountEdge offers multiple layouts for entering a new purchase transaction. Make sure you choose a layout that best fits your needs. The layout you choose will be the default selection when you create a new purchase from a vendor. You can change the layout selection when creating a new purchase.

Buying Details   

The details you enter here will be applied to new contact cards for your vendors and will be used when recording purchases. You can change these options for specific contacts after your vendor list is set up.

Sales Tax   

Enter the sales tax codes that you normally pay when purchasing from your vendors.

Payment Information   

The details you enter here will be applied to all new contact cards for your vendors. You can change these options for specific contacts after your vendor list is set up.

Linked Accounts   

In this step, select the default account for paying vendor bills. This should be the account you use to make most of your vendor payments. You can change this account when you record the vendor payment.

Vendor Cards   

In this step, you can add contact cards for your vendors. You can add your vendor information one at a time or via import.

Historical Purchases

You can enter information about any purchases that you haven’t paid in full as of your conversion month and fiscal year selection.

The total of all historical purchases should equal the opening balance of your payables linked account. If it does not, an out-of-balance amount will appear. Ensure that you have entered all of your historical purchases correctly and that the opening balance of your payables account is correct.