Acc/250 Ticket Memo

Angela Williams

Week 7 Checkpoint

Ticket Memo

All companies need a way to track time and expenses. This could include anything from services performed for customers to the amount of labor performed on a job. Peachtree Complete Accounting provides two forms of tickets to track both of these: the time ticket and the expense ticket. Each type of ticket can be used specifically for a customer, job, or non-billable administrative tasks.

Time tickets are used for keeping track of activities that are time-based. These activities can include consultations or research, among others. Time tickets can record activities performed by the vendor or an employee and are recorded daily or weekly. There can be a billing rate for the activity or one can be entered by the one performing the activity.

Expense tickets are used to keep track of customer related expenses as well as try to recover some of these expenses that have not yet been paid. Expenses depend on the services being offered and can vary, but are not based on time.

The two tickets are different in that they each have a different purpose. Time tickets are for recording time activities and expense tickets are for tracking and helping recover of customer related expenses. They each have a special type of inventory item: charge item for expense tickets and activity item for time tickets.

You can find a lot of useful information on both of these tickets, such as tickets details, activity item and activity name(or charge item and name); time details, date service was performed and how much time it took; job name; invoice description; and billing details.