Lesson 6.1: Activity

Practical Activity: Recording Two Types of Payments

Objective: Record a bank fee (CD) and a partial payment to a vendor (CD-AP).

1. Record Bank Fee:

    ◦ Navigate to Transactions > Cash > Cash Disbursements.

    ◦ Cash Account: Select your main checking account.

    ◦ Payee: Select (or create) an Other Name called “City Bank.”

    ◦ Reference: “ServiceChg”.

    ◦ Amount: “15.00”.

    ◦ Distribution: Select your “Bank Fees” expense account.

    ◦ Click Save & New.

2. Record Vendor Payment:

    ◦ Click the Vendor Payments button.

    ◦ Vendor: Select the vendor “Smith Consulting” (created in Module 4).

    ◦ Reference: Enter a check number (e.g., 1001).

    ◦ Amount: Enter “500.00”.

    ◦ Apply: In the bottom grid, locate an open invoice and type “500.00” in the Payment column (even if the invoice total is higher).

    ◦ Click Save.