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      <blockquote>
        <div class="ho_OverviewHeading"><a name="824079">Purchases</a> Linked Accounts window</div>
        <div class="b_Body"><a name="818054">The </a>Purchases Linked Accounts window enables you to change the Linked Accounts assigned to your purchases. </div>
        <div class="b_Body"><a name="847576">These accounts are automatically linked when you create a new company file using the New Company File </a>Assistant. You may want to change the linked accounts to suit your business needs. </div>
        <div class="hp_ProcedureHeading" onclick="WebWorks_ToggleDIV(WebWorksRootPath, &quot;wwdd812688&quot;);">
          <span class="N_007eProcBullet"></span><a name="812688">Field Descriptions</a><script type="text/javascript" language="JavaScript1.2">WebWorks_WriteArrow(WebWorksRootPath, "wwdd812688", false);</script></div>
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        <div class="hps_ProcedureSubheading"><a name="812691">Liability Account for Tracking Payables</a></div>
        <div class="b_Body"><a name="847605">Enter or select a liability account that tracks the money you owe suppliers for purchases. </a></div>
        <div class="b_Body"><a name="847673">This account is credited whenever you enter purchases on account using the Purchases window. This account </a>is debited whenever you enter a payment for a supplier using the Pay Bills window. This account is referred to as your <span style="font-style: italic;">linked payables account</span>.</div>
        <div class="btF_TipHeadingFirst">
          <span class="N_007eNoteCautionWarning">tip : </span><a name="852211">You can use the Company Data Auditor to compare the total of your purchases with the linked payables </a>account balance.</div>
        <div class="hps_ProcedureSubheading"><a name="812695">&nbsp;</a></div>
        <div class="hps_ProcedureSubheading"><a name="852217">Bank Account for Paying </a>Bills</div>
        <div class="b_Body"><a name="812697">Enter or select an account for tracking payments to and refund cheques from suppliers. This account is referred </a>to as your <span style="font-style: italic;">payables bank account</span> and is usually a <span class="w_Widgets">Bank</span> account type.</div>
        <div class="b_Body"><a name="847702">When you enter a bill payment, this account is credited by the amount of the transaction, and your linked </a>Liability Account for Tracking Payables is debited. </div>
        <div class="hps_ProcedureSubheading"><a name="847676">I can receive items without a supplier bill</a>—Liability Account for Item Receipts</div>
        <div class="b_Body"><a name="845602">If you select the </a><span class="w_Widgets">I can receive items without a supplier bill</span> option, the Liability Account for Item Receipts field appears. Enter or select an account for tracking the cost of items you’ve received into your inventory, but for which you haven’t yet received a bill.</div>
        <div class="b_Body"><a name="847768">This is also known as your linked </a>A/P Accrual - Inventory account. </div>
        <div class="hps_ProcedureSubheading"><a name="847723">I pay freight on purchases</a>—Expense or Cost of Sales Account for Freight</div>
        <div class="b_Body"><a name="812701">If you select the </a><span class="w_Widgets">I pay freight on purchases</span> option, the Expense or Cost of Sales Account for Freight field appears. Enter or select an account that tracks the money you spend for the transport of items you purchase. This account is referred to as your <span style="font-style: italic;">freight paid account</span>.</div>
        <div class="b_Body"><a name="847803">This account enables you to see how much of your gross purchases amount is actually goods or services, and </a>how much is payment for shipping. This account appears on the Trial Balance, the Profit and Loss Statement and other reports.</div>
        <div class="b_Body"><a name="847810">If your suppliers don’t ship goods to your company, you do not need to select an account here.</a></div>
        <div class="hps_ProcedureSubheading"><a name="812703">I track deposits paid to suppliers</a>—Asset Account for Supplier Deposits</div>
        <div class="b_Body"><a name="812705">If you select the </a><span class="w_Widgets">I track deposits paid to suppliers</span> option, the Asset Account for Supplier Deposits field appears. This field allows you to enter an account that tracks deposit amounts you pay for purchase orders. </div>
        <div class="b_Body"><a name="818125">This account is referred to as your </a><span style="font-style: italic;">linked supplier deposits account</span>.</div>
        <div class="b_Body"><a name="847835">The amount is considered an asset for your company until the purchase actually is made, because all or a </a>portion of the deposit will have to be returned to you if the purchase isn’t made. This account appears on the Trial Balance, the Profit and Loss Statement and other reports.</div>
        <div class="b_Body"><a name="847839">If you never make deposits on purchase orders, you do not need to select an account.</a></div>
        <div class="hps_ProcedureSubheading"><a name="812707">I take discounts for early payment</a>—Expense (or Contra) Account for Discounts</div>
        <div class="b_Body"><a name="852312">If you select the </a><span class="w_Widgets">I take discounts for early payment</span> option, the Expense (or Contra) Account for Discounts field appears. Enter or select an account that tracks discount amounts that you’ve received from suppliers for paying your bills early. This account is referred to as your <span style="font-style: italic;">linked supplier discounts account</span>.</div>
        <div class="b_Body"><a name="852322">This account is used to track the discounts you take for early payment, based on the credit terms your suppliers </a>have extended to you. When you enter payments using the Pay Bills window, the discount amount you’re eligible for appears as a default entry and is tracked using the linked Expense (or Contra) Account for Discounts.</div>
        <div class="b_Body"><a name="847861">If you don’t take early-payment discounts to your customers, you do not need to select an account.</a></div>
        <div class="hps_ProcedureSubheading"><a name="812711">I pay charges for late payment</a>—Expense Account for Late Charges</div>
        <div class="b_Body"><a name="812713">If you select the </a><span class="w_Widgets">I pay charges for late payment</span> option, the Expense Account for Late Charges field appears. Enter or select an account for tracking finance charges that you’ve paid to suppliers. </div>
        <div class="b_Body"><a name="818131">This account is referred to as your </a><span style="font-style: italic;">linked supplier late charges account</span>.</div>
        <div class="b_Body"><a name="847876">This account is used to track the fees you pay when a bill payment is past due, or if you are charged a finance </a>fee on unpaid balances. This account is updated when you enter an amount in the Finance Charge field in the Pay Bills window.</div>
        <div class="b_Body"><a name="847877">If you aren’t required to pay late charges, you do not need to enter an account.</a></div>
        <div class="hps_ProcedureSubheading"><a name="847872">Terms </a></div>
        <div class="b_Body"><a name="812717">Click to open the Credit Terms window, where you can create a set of default credit terms for all suppliers in </a>your company file and specify a default tax code.</div>
        <div class="b_Body"><a name="812718">The terms and tax code you select will be automatically applied to every new supplier record you add to the </a>Card File. If you want, you can change these details for an individual supplier in the Buying Details view of the Card Information window.</div>
        <div class="hps_ProcedureSubheading"><a name="818181">OK </a></div>
        <div class="b_Body"><a name="818185">Click to save your changes and close the window.</a></div>
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        <div class="Sample_heading"><a href="50300c-03.htm#834098" name="821266">Tips for this window</a></div>
        <div class="href_ReferenceBlockHeading"><a name="851809">Related topics</a></div>
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                  <span style="color: Gray;">■</span>
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                <div class="bbi_BulletedIndented_inner"><span class="l_Link"><a href="companyfile.4.7.htm#1091721" name="853679">Enter account opening balances</a></span></div>
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                <div class="bbi_BulletedIndented_inner"><span class="l_Link"><a href="settingup.5.4.htm#1067872" name="853683">Set up purchases</a></span></div>
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