PAYMENTS - INPUT

(Payments window text boxes explained continued)

payments form - Peachtree Accounting Software

The "Cash Account" is our Credit Union checking account from our Chart of Accounts.
Our "Balance" is $3.34. We are struggling and independant. Our agency insurance could
be paid from an invoice using the "Apply to Invoices" but for now we have not decided to
do it that way. We are applying it as a simple payout by check on the "Apply to Expenses"
tab. This is not an inventory item so no "Quantity", "Item" or "Unit Price" needs inputting.
This is the "Payments" form continued from the previous "Payments" page.

Quantity

At present we are not using this field very often. When we keep closer track of
our purchases we will use the Purchase Order screen. Quantity works with the
"Item" field and the "Unit Price" field to calculate the "Amount" field. The
"Item" field is selected from inventory items. Thus, unless we are inventorying
the item this field should not be used.

Item

Used for inventory items. At present we are not inventorying supplies other then
T-shirts. We will deal with T-shirt inventory issues elsewhere. Tracking supplies
is a policy issue that merits further discussion in the near term.

Description

Identify the item or items being paid for on this line. Separate frequently
purchased items used up in our programs onto separate lines. For example,
staples, duct tape, screw drivers. Indicate the number of units.

GL Account

This Chart of Account number relates to the program that will use the items
or the cost category the item or service belongs to. The default is set in
the vendor's setup window. It is not always correct. While it is true that
Naz-Dar is always a screen print workshop supplier, Crafty Beaver may supply
not only our screen print workshop but our general agency needs or our
AOT (Art of the T-shirt) exhibit needs. Copies serve all categories of our
activities. We track expenses for general operating (M00), AOT exhibits (M01),
Screen Print Workshop (M02), Screen Printing (M03), Computer Workshop (M04)
and Fund Raising (M90). It is the Executive Directors job to identify invoices
and store receipts as to their categories.

Unit Price

This works with Quantity. It also may be used with item to track inventory.
We are not presently using it. It may be a policy discussion item in the near
future as we study how best to track supplies usage and costs.

Amount

The total cost of the line item described

Job

Not used presently. It may be used later to track supplies related to print jobs
and to track costs related to restricted grants.

Manual Contents Page

Uptown Multi-Cultural Art Center (UM-CAC). Click here for contact Info or to E-mail UM-CAC at umcac@art-teez.org click here. Ph.773/561-7676

SPW Art

T-shirts Sold