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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

Application Service Providers for Accounting

The What, Why, and How of

Internet Accounting

Carol Yacht & Susan V. Crosson

what are application service providers
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
cd installed software lab network or hard drive application service providers company s web server
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.
why use application service providers
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.
drawbacks to application service providers
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
course possibilities using internet delivered software
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)

qb online edition vendor overview
QB Online Edition: Vendor Overview
  • On the QB Online Edition menu bar, select “Vendors.” From the drop-down list, select Vendor Overview.
qb online edition vendor transactions for a service business
QB Online Edition: Vendor Transactions for a Service Business
  • Purchase of Supplies: Enter Bills
  • Vendor Payments: Pay Bills
qb online edition enter bills
QB Online Edition: Enter Bills
  • You use the “Enter Bills” screen to record purchases from vendors.
qb online edition purchase of supplies from a vendor
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.
qb online edition pay bills
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.
qb online edition transaction list by vendor
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.
epeachtree example of help screen
ePeachtree – Example of “Help” screen
  • Help screens explain the details of creating a new transaction.
epeachtree vendor transactions for a jewelry store merchandising business
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.
epeachtree vendor transactions
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.

epeachtree purchase register
ePeachtree – Purchase Register
  • Here is how ePeachtree records the October 1, 2001 purchase of inventory from a vendor.
epeachtree purchase journal
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.
epeachtree purchase register23
ePeachtree – Purchase Register
  • The Purchase Register shows a list of the jewelry store’s purchases, returns and total vendor transactions.
epeachtree vendor payment
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.
epeachtree payment register
ePeachtree – Payment Register
  • ePeachtree’s Payment Register shows vendor payments and returns.
netledger vendor transactions for a merchandising business
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.

netledger october 2 transaction
NetLedger –October 2 transaction
  • The “Bill” screen shows the purchase of six rings at $50 each.
netledger accounts payable register
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.
netledger vendor payments
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.

netledger bill payments
NetLedger: Bill Payments
  • NetLedger’s “Bill Payments” screen shows the October 6 transaction for payment of Invoice 66JE, less return and discount.
asps financial statements
ASPs Financial Statements
  • QuickBooks Online Edition, ePeachtree, and NetLedger include the full range of financial statements.
review of application service provider software
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

urls publishers for asps
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/

comparison charts
Comparison charts
  • Compare QuickBooks products

http://www.quickbooks.com/choosechart.html

  • Compare Peachtree products

www.peachtree.com/peachtree2003/product_matrix.cfm

additional asp resource
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”)