Bill Payment
A Bill Payment is a payment that is made on a Bill that was issued from a Vendor for the goods and services bought. If any prepayment has been recorded on the purchase order, the bill generated for the order will be already paid.
However, in cases where no prepayment has been recorded, the bill is generated with an "Open" status, indicating that payment is pending.
There are multiple ways to make a bill payment:
Applying Vendor Credits/Prepayments
The bill can be paid off by using the vendor credit directly from the Bill module.
You will be navigated to the Bill Payment module.
Here, you can see the payment criteria, bill details and pay the bill.
Bill Payment Criteria
Accounts Payable
This field allows you to select the accounts payable for bill payment.
Bill Payment Criteria
Vendor
This field allows you to select the vendor to display the unpaid bills for.
Bill Payment Criteria
Search Bills
This field allows you to search for all the unpaid bills for the selected vendor.
Pay Bills
Payment Date
This field allows you to select a date for the bill payment.
Pay Bills
Payment Method
Select a payment method for the bill payment.
Pay Bills
Reference#
Enter a reference number here if required.
Pay Bills
Account
Select the checking/bank (asset )account from which the payment is made.
Pay Bills
Memo
Any additional information recorded for the bill is captured in this field.
Pay Bills
Exchange Rate
If the bill is in foreign currency, the exchange rate for its payment can be changed here.
Pay Bills
Amount Due
This field shows the amount left on the bill that is due for payment.
Pay Bills
Bill#
The bill number is captured in this field.
Pay Bills
Bill Date
The date on which the vendor issued the bill is captured in this field.
Pay Bills
Credit
The field shows the Vendor Credit amount to be applied on the Bill. Click this number to edit the Credit.
Pay Bills
Currency
The field shows the currency of the bill.
Pay Bills
Discount
This is an editable field that shows the discount to be applied toward the bill. Click it to edit and add the discount amount and discount account.
Pay Bills
Discount Date
This field shows the discount date of the Bill. From this date suggested discounts are calculated.
Pay Bills
Exchange Rate
This field shows the exchange rate of the Bill.
Pay Bills
On-hold?
This field shows if the bill is put on hold.
Pay Bills
Original Amount
This field shows the bill's original balance.
Pay Bills
Packing Slip#
The packing slip number associated with the bill is captured in this field.
Pay Bills
Pay Amount
This is the amount to be paid towards this bill. Click this number to edit the amount.
Pay Bills
Ref#
This is the reference number of the bill.
Pay Bills
Receipt Date
This field shows the transaction date of the Bill (the date the items were received).
Pay Bills
Status
This field shows the payment status of the bill.
Pay Bills
Store
This is the store associated with the Bill.
Pay Bills
Terms
This field captured the payment terms of the bill.
Pay Bills
Vendor
This field displays the vendor associated with the bill.
Options
Apply Batch Discounts
Use this option to apply any eligible discounts for the selected bills.
Options
Apply Amount To Pay
Use this option to enter the full amount to pay for the selected bills. This is handy for paying off many bills at once.
Options
Reset All
Resets all the amounts under the Credit, Discount, and Pay Amount columns.
Click the amount under the "Credit" column.
You will be navigated to the "Add Credit" module.
In the header section, you will find the details of the bill. In the bottom section, you will find the available vendor credits and prepayments.
Choose the desired tab (Vendor Credits/Prepayments). Select the credit/prepayment you want to apply to the bill. Click on the 'Tick' icon to utilize the entire credit/prepayment amount or input the desired amount in the 'Apply' column. Then, click on "Apply Credit" button to apply the credit to the bill.
Then, on the bill payment module, click on 'Pay Bill' button to complete the bill payment.
Paying Bill Manually
If the payment is to be made in cash or using credit card or debit card details, you can record the bill payment manually.
You will be navigated to the Bill Payment Module. From here you can select the payment method, put in the payment amount, and make the bill payment.
Last updated
Was this helpful?