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Application Service Providers for Accounting

Application Service Providers for Accounting The What, Why, and How of Internet Accounting Carol Yacht & Susan V. Crosson What are Application Service Providers? Internet-delivered software: QuickBooks Online Edition (formerly called QuickBooks for the Web); ePeachtree; NetLedger

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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 & Susan V. Crosson

  2. What are Application Service Providers? • Internet-delivered software: QuickBooks Online Edition (formerly called QuickBooks for the Web); ePeachtree; NetLedger • 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 Online Edition; 14 days NetLedger • Computer Accounting course QuickBooks or Peachtree CD software and one of the ASPs (QB Online Edition; ePeachtree; or NetLedger). • Computer Accounting course  three ASPs (QB Online Edition, ePeachtree, and NetLedger)

  8. Application Service Provider Specifics

  9. Application Service Provider Specifics (continued)

  10. Application Service Provider Specifics (concluded)

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

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

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

  14. QB Online Edition: 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 Online Edition: 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 Online Edition: 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 Online Edition, ePeachtree, and NetLedger include the full range of financial statements.

  35. Review of Application Service Provider software “Web-based Accounting Vendors Struggle to Find Innovative Ways to Provide Solutions,” by Brent Dirks http://www.cpasn.com/articles/2002/webbased.shtm

  36. URLs/Publishers for ASPs • QuickBooks Online Edition (Intuit) http://oe.quickbooks.com • ePeachtree (Peachtree Software) www.peachtree.com/epeachtree • NetLedger (Oracle Corp.) www.netledger.com/

  37. Comparison charts • Compare QuickBooks products http://www.quickbooks.com/choosechart.html • Compare Peachtree products www.peachtree.com/peachtree2003/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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