Magaya Software Accounting Manual

More documents

Recommendations

Info

ACCOUNTS RECEIVABLE SPECIAL PROCEDURES HANDLING BOUNCED CHECKS The total will be updated automatically. Click the Close or OK button to save. Note: You can set payment terms for a customer for a customer in their profile. For details, see the section “Set Customer Payment Terms” in Chapter 6 of the Magaya Software Accounting Manual. Handling Bounced Checks Handling bounced checks in your Magaya system requires two transactions: One records the bank fee, and another creates a new invoice. Scenario: You have already received the payment, but the check bounced due to non-sufficient funds (NSF). 1) Create a Check to Expense: When you receive the bounced check from the bank, make a “Check to Expense” to record the bank fee. Make the check payable to the bank for the NSF fee amount ($20.00). 2) Now create another Invoice: Click the “Accounts” tab of the Invoice dialog box as shown here: 181
ACCOUNTS RECEIVABLE SPECIAL PROCEDURES PROCESSING WIRE TRANSFER FEES Include the amount that you will charge your customer to cover the fee that the bank charged you ($25.00), and the amount that the customer paid in the check that bounced ($1,500.00) that needs to be subtracted from the bank. The “Bank Service Fee” is the income account in the Chart of Accounts for bank service charges such as this bounced check fee of 20.00. This example shows a fee of $5.00 added for processing. Processing Wire Transfer Fees When you receive a payment via wire transfer, the customer sends the full amount, but the bank charges you a fee for the wire transfer. There are two options to process this: 1) The payment that you receive will show the fee; or, 2) process the payment in full and create a Check to Expense for the wire transfer fee. 182
Page 1 and 2:
MagayaSoftware AccountingManual Gui
Page 3 and 4:
7. Accounts Payable . . . . . . . .
Page 6 and 7:
1. HOW TO USE THIS MANUAL INTRODUCT
Page 8 and 9:
2. Magaya Accounting System Overvie
Page 10 and 11:
ACCOUNTING FOLDER OVERVIEW - Add Bi
Page 12 and 13:
3. ACCOUNTING WIZARD ACCOUNTING WIZ
Page 14 and 15:
ENTER INFORMATION IN THE ACCOUNTING
Page 16 and 17:
ENTERING OPENING BALANCES ENTER INF
Page 18 and 19:
ENTERING OPENING BALANCES ENTER INF
Page 20 and 21:
4. CHART OF ACCOUNTS INTRODUCTION 4
Page 22 and 23:
ADD TO THE CHART OF ACCOUNTS • Ex
Page 24 and 25:
CONFIGURE DEFAULT ACCOUNTS is usefu
Page 26 and 27:
5. ITEMS AND SERVICES INTRODUCTION
Page 28 and 29:
ADD ITEMS AND SERVICES • Other Fr
Page 30 and 31:
ACTIONS PERFORMED WITH ITEMS AND SE
Page 32 and 33:
6. ACCOUNTS RECEIVABLE INTRODUCTION
Page 34 and 35:
CREATE INVOICES will be visible to
Page 36 and 37:
CREATE INVOICES • Add Charges: Cl
Page 38 and 39:
CREATE INVOICES 3) Click OK when yo
Page 40 and 41:
ACTIONS FOR INVOICES The following
Page 42 and 43:
ACTIONS FOR INVOICES • Approve/Di
Page 44 and 45:
IMPORT INVOICES • Date of the tra
Page 46 and 47:
PRINT INVOICES TO A FISCAL PRINTER
Page 48 and 49:
CREDIT MEMOS Credit Memos Credit Me
Page 50 and 51:
ENTER PAYMENTS Enter Payments A Pay
Page 52 and 53:
ENTER PAYMENTS • The A/R Account
Page 54 and 55:
ENTER PAYMENTS time per invoice. Th
Page 56 and 57:
ACTIONS FOR PAYMENTS Actions for Pa
Page 58 and 59:
CUSTOMER PAYMENT TERMS Note: Only u
Page 60 and 61:
CUSTOMER PAYMENT TERMS 2) Click the
Page 62 and 63:
DEPOSITING PAYMENTS Click on the Ad
Page 64 and 65:
ACTIONS FOR DEPOSITS The payment is
Page 66 and 67:
REFUND CHECK for this check. This s
Page 68 and 69:
7. ACCOUNTS PAYABLE INTRODUCTION TO
Page 70 and 71:
CREATE BILLS account available in t
Page 72 and 73:
ACTIONS FOR BILLS When you access t
Page 74 and 75:
BILL CREDITS When you purchase a fi
Page 76 and 77:
BILL PAYMENTS Bill Payments To pay
Page 78 and 79:
PAY MULTIPLE VENDORS Pay Multiple V
Page 80 and 81:
PAY MULTIPLE VENDORS In the next sc
Page 82 and 83:
VENDOR REFUNDS A dialog box opens.
Page 84 and 85:
8. BANKING INTRODUCTION TO BANKING
Page 86 and 87:
WRITING CHECKS • The date is fill
Page 88 and 89:
WRITING CHECKS Pay Sales Tax: Use t
Page 90 and 91:
ACTIONS FOR CHECKS check fields suc
Page 92 and 93:
ACTIONS FOR CHECKS • Void a check
Page 94 and 95:
MAKING DEPOSITS • History: View r
Page 96 and 97:
MAKING DEPOSITS • Click on a line
Page 98 and 99:
BANK RECONCILIATION If you click th
Page 100 and 101:
BANK RECONCILIATION To view transac
Page 102 and 103:
BANK RECONCILIATION menu. Right-cli
Page 104 and 105:
9. ACCOUNTING REPORTS INTRODUCTION
Page 106 and 107:
OVERVIEW OF ACCOUNTING REPORTS A di
Page 108 and 109:
CUSTOMIZE REPORTS Customize Reports
Page 110 and 111:
CUSTOMIZE REPORTS You can change th
Page 112 and 113:
PROFIT & LOSS REPORT This is an exa
Page 114 and 115:
COMPARATIVE PROFIT & LOSS REPORTS T
Page 116 and 117:
COMPARATIVE PROFIT & LOSS REPORTS 4
Page 118 and 119:
SHIPMENT P&L REPORT • The detaile
Page 120 and 121:
BALANCE SHEET The following is an e
Page 122 and 123:
BALANCE SHEET A detailed Balance Sh
Page 124 and 125:
SALES REPORTS • The Investing sec
Page 126 and 127:
SALES REPORTS Compare Sales: The sa
Page 128 and 129:
PURCHASE REPORTS Purchase Reports P
Page 130 and 131:
PURCHASE REPORTS Reports by Carrier
Page 132 and 133: PROFIT REPORTS OVERVIEW Profit Repo
Page 134 and 135: CUSTOMER PROFIT REPORTS Customer Pr
Page 136 and 137: AGENT PROFIT REPORT Agent Profit Re
Page 138 and 139: MULTICURRENCY REPORTS Daily Journal
Page 140 and 141: 10. ADVANCED ACCOUNTING FEATURES 10
Page 142 and 143: ACCOUNTING CONFIGURATION MAIN ACCOU
Page 144 and 145: ACCOUNTING CONFIGURATION MAIN ACCOU
Page 146 and 147: ACCOUNTING CONFIGURATION COST CONFI
Page 148 and 149: ACCOUNTING CONFIGURATION ACCOUNTING
Page 150 and 151: ACCOUNTING CONFIGURATION MISCELLANE
Page 152 and 153: AVERAGE COST CONFIGURE AVERAGE COST
Page 154 and 155: AVERAGE COST ADDITIONAL CONFIGURATI
Page 156 and 157: AVERAGE COST SPECIFIC IDENTIFICATIO
Page 158 and 159: LANDED COST MANAGEMENT CONFIGURE YO
Page 160 and 161: SALES TAXES INTRODUCTION TO SALES T
Page 162 and 163: SALES TAXES STEPS: ADD A SALES TAX
Page 164 and 165: APPROVE/DISPUTE INVOICES APPROVE/DI
Page 166 and 167: JOURNAL ENTRIES STEPS: CREATE A JOU
Page 168 and 169: ADJUSTMENTS • Reverse a journal e
Page 170 and 171: MULTIPLE CURRENCIES HOW TO SET UP M
Page 176 and 177: MULTIPLE CURRENCIES MULTICURRENCY R
Page 178 and 179: RELATIONSHIP BETWEEN ACCOUNTING & O
Page 180 and 181: ACCOUNTS RECEIVABLE SPECIAL PROCEDU
Page 188 and 189: Index A Accounting and Operations r
Page 190: open invoices 125 sales tax liabili
show all

Magaya Software Accounting Manual

Create successful ePaper yourself

Delete template?

Save as template?