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Application Service Providers for Accounting

Application Service Providers for Accounting. The What, Why, and How of Internet Accounting Carol Yacht WBITE/CBEA, February 16, 2002. What are Application Service Providers?. Internet-delivered software: QuickBooks for the Web; ePeachtree; NetLedger (Oracle Small Business Suite)

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Application Service Providers for Accounting

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  1. Application Service Providers for Accounting The What, Why, and How of Internet Accounting Carol Yacht WBITE/CBEA, February 16, 2002

  2. What are Application Service Providers? • Internet-delivered software: QuickBooks for the Web; ePeachtree; NetLedger (Oracle Small Business Suite) • Accessible anytime, anywhere by authorized users • Always current • Users rent software on a monthly basis instead of buying and installing software on their hard drive

  3. CD-installed software – lab network or hard drive Application Service Providers – company’s Web server • Instead of storing the application and data on a computer that resides in the classroom or on students’ computers, Application Service Providers (ASPs) reside on distant Web servers. • When using Application Service Providers users can work through any Internet connection. This new way to perform accounting tasks has advantages and disadvantages.

  4. Why use Application Service Providers? • Accessible from any Internet connected computer • Technology support always available • Software affordable  free trial! • Installation easy  just sign up with your email address and password - no computer lab involvement • Exposes students to integrated accounting systems that are ready for e-commerce and B2B.

  5. Drawbacks to Application Service Providers • High speed connection preferred all processing done on the Internet • User becomes vulnerable to integrity of Web server  power outages, system crashes, financial health, data security. • Once adopted, expensive to change to comparable computer-based software

  6. ASP Features

  7. Course Possibilities using Internet-delivered Software • Financial, Principles, or AIS courseFree trial period  30 days, ePeachtree & QuickBooks for the Web; 14 days Oracle Small Business Suite (NetLedger) • Computer Accounting course QuickBooks or Peachtree CD software and one of the ASPs (QB for the Web; ePeachtree; or NetLedger). • Computer Accounting course  three ASPs (QB for the Web, ePeachtree, and NetLedger)

  8. Application Service Provider Specifics

  9. Application Service Provider Specifics (continued)

  10. Application Service Provider Specifics (concluded)

  11. QB for the Web: Vendor Overview • On the QB for the Web menu bar, select “Vendors.” From the drop-down list, select Vendor Overview.

  12. QB for the Web: Vendor Transactions for a Service Business • Purchase of Supplies: Enter Bills • Vendor Payments: Pay Bills

  13. QB for the Web: Enter Bills • You use the “Enter Bills” screen to record purchases from vendors.

  14. QB for the Web: Purchase of Supplies from a Vendor • On 10/02/01, received Invoice 66JE and shipment from Gator Chemicals for the purchase of dry cleaning supplies that included the purchase of dry cleaning fluid on credit, Net 30, $300.

  15. QB for the Web: Pay Bills • On 10/06/01, paid two vendor invoices: Gator Chemicals, Invoice No. 66JE, $300; and Sales Products Supply, Invoice EX32, $245; for a total of $545.

  16. QB for the Web: Transaction List by Vendor • To check that vendor payments were made, you can display or print the Transaction List by Vendor report.

  17. ePeachtree – Example of “Help” screen • Help screens explain the details of creating a new transaction.

  18. ePeachtree – Vendor Transactions for a Jewelry Store (merchandising business) • Purchase Register is also the purchase journal. • Vendor payments and returns are reported on the Payment Register.

  19. ePeachtree – Vendor Transactions • You use ePeachtree’s Purchase Register to record credit purchases from vendors. ePeachtree’s Purchase Register is the Purchase Journal. • Purchase Register transaction: On October 1, 2001, received Invoice 66JE and shipment from Jewelry by Jason for the purchase of 20 rings on credit at $50 each, terms 1%, 10 Net 30, $1,000.

  20. ePeachtree – Purchase Register • Here is how ePeachtree records the October 1, 2001 purchase of inventory from a vendor.

  21. ePeachtree – Purchase Journal • The Purchase Journal on the next slide shows four purchases made from vendors for a total of $3,350. This is the amount owed to vendors as of October 5, 2001.

  22. ePeachtree’s Purchase Journal

  23. ePeachtree – Purchase Register • The Purchase Register shows a list of the jewelry store’s purchases, returns and total vendor transactions.

  24. ePeachtree – Vendor Payment • From ePeachtree’s navigation bar, select Vendors, then payments. Click on the “New” icon. • On October 6, 2001, paid Jewelry by Jason for Invoice No. 66JE, less the $50 return, and the discount.

  25. ePeachtree – Payment Register • ePeachtree’s Payment Register shows vendor payments and returns.

  26. NetLedger – Transactions screen

  27. NetLedger Help screen – How do I add transactions?

  28. NetLedger – Vendor Transactions for a merchandising business • You use the Enter Billslink to record vendor purchases. • Vendor transaction: On October 2, 2001, your jewelry store received Invoice 66JE and shipment from Jewelry by Justin for the purchase of six rings on credit at $50 each, terms 1% 10 Net 30, $300.

  29. NetLedger –October 2 transaction • The “Bill” screen shows the purchase of six rings at $50 each.

  30. NetLedger: Accounts Payable Register • The accounts payable register shows the four purchases and one return made by the jewelry store from October 1 through 5, 2001.

  31. NetLedger: Vendor Payments • Transaction: On October 6, 2001, your jewelry store paid Jewelry by Justin, Invoice 66JE, for the October 2 purchase, less a discount and the return of October 4, $247.50.

  32. NetLedger: Bill Payments • NetLedger’s “Bill Payments” screen shows the October 6 transaction for payment of Invoice 66JE, less return and discount.

  33. NetLedger’s October 31, 2001 Trial Balance

  34. ASPs Financial Statements • QuickBooks for the Web, ePeachtree, and NetLedger include the full range of financial statements.

  35. Article about ASPs “Employing an ASP: Making Your Payroll and Accounting Painless” by Wayne Kawamoto http://www.applicationplanet.com/money/accounting.html

  36. URLs/Publishers for ASPs • QuickBooks for the Web (Intuit) www.quickbooks.com/qb4web • ePeachtree (Peachtree Software) www.peachtree.com/epeachtree • NetLedger (Oracle Corp.) www.oraclesmallbusiness.com/

  37. Comparison charts • Compare QuickBooks products www.quickbooks.com/choosechart.html • Compare Peachtree products www.peachtree.com/html/product_matrix.cfm

  38. Additional ASP Resource • Computer Accounting Essentials newsletter and more information: http://www.mhhe.com/yachtessentials1e • Syllabi for ASP course: http://user.gru.net/susancrosson/sept/sept.htm#faculty (scroll down screen to “Syllabi Suggestions”)

  39. CD Software & ASP Costs

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