Vendor Payments

When a company orders goods from a supplier it raises a Bills, when the goods or services arrive they will receive an invoice from the supplier. If the goods or service matches the bills the details of the invoice are entered into the Vendor payment. Then payment is made to supplier. Vendor payment will keep track of how much money is going out of the business.

New Payment

Details which can be enter in New Payments are in three segments. Those are Vendor, Vendor payments and items.

Vendor

  1. Go to Purchases
  2. Click on Vendor Payments
  3. Then click on New Payment
  4. Click on Vendor field
  5. Select the Vendor from the dropdown menu

Payments

  1. Enter total amount
  2. Enter date by selecting from the calendar
  3. Choose the paid through by selecting from the dropdown menu
  4. If you need to withhold tax. Click on withhold tax
  5. Two fields should appear once clicked on withhold tax those are tax and tax account
  6. Update the tax from the dropdown. Tax will only appear if the tax was updated in settings
  7. Update the tax account from the dropdown menu
  8. Update the payment mode by selecting from the dropdown menu
  9. Give the reference
  10. You can upload documents by clicking upload filed

Line Items

  1. Once the Vendor is updated
  2. Open bills for that customer should appear
  3. Select the bills you wish to update payment
  4. Once the bills is selected, should be able to enter the tax and payment
  5. Click save to update the payment