Bills are notices of payment sent from Vendors and also act as documents of Received Goods. They are converted from Item Receipts or can be manually entered.
Prepayments, Payments, discounts, and Vendor Credits can be applied to the Bills.
The Bill Payment module
A Bill can be in one of the following statuses:
- Open: A Bill that has no Prepayments/Payments/Deposits/Credits applied to it.
- Partially Paid: A Bill that is partially paid by Prepayments/Payments/Deposits/Credits.
- Paid: A Bill that has been paid in full.
Bill Fields
Use the Bill module to create or edit an existing Bill.
Bill Header
- Select Store: This is the store where the items are received or the store for which the bill is for.
- Vendor: Select the vendor you are purchasing from. Click for more details on the selected vendor.
- Payment Terms: The payment term of the vendor. This automatically gets fetched when a vendor is selected.
- Receipt Date: The date the Items were received, is also the transaction date.
- Bill Date: The date the vendor issued the bill, from this date the discount and due date are determined.
- Discount Date: The discount date, if a bill is paid before this date then it is eligible for a discount. This date is automatically determined from the Payment Terms and Bill Date.
- Due Date: The due date for this bill. This date is automatically determined from the Payment Terms and Bill Date.
- Select Account: Select the Accounts Payable.
- Packing Slip#: Enter the packing slip # from the vendor here.
- Vendor Bill#: The vendor’s bill# can be entered here.
- Total: The total amount of the bill.
- Project/Class: Select a project or class to associate this bill with..
Bill Details – Items
- Add Item (Alt+A): Clicking this button opens a new window where you can add items.
- Reconcile: Clicking this button opens a wizard to reconcile freight/shipping/service charges into the cost of items.
The descriptions below refer to the column headings of the items:
- Description: An item’s description that can be edited by clicking on it.
- PO#: If this item was received on a PO (through the warehousing system or converted directly), its number will be listed here.
- Unit Cost: An item’s unit cost that can be edited by clicking on it.
- Qty: An item’s quantity that can be edited by clicking on it.
- Project/Class: Select a project or class to associate this item line with.
- Amount: Unit Cost * Qty
- Tax: The tax code applied to this item.
- Landed Unit Cost: The item’s unit cost after any reconciliation (if there is no reconciliation, this will be the same Unit Cost)
- Landed Amount: Landed Unit Cost *Qty
Bill Details – Expense
- Account: Select an account for adding an expense line.
- Tax: Select a tax code for adding an expense line.
- Amount: Enter an amount here for adding an expense line.
- Project/Class: Select a project or class to associate this expense line with.
- Memo: Enter a memo here if required for adding an expense line.
- Add: Click this button to add the expense line.
Bill Details – Tax Adjustments
- Tax Adjustment Item: Select the tax type to adjust.
- Adjustment Amount: Enter the amount to adjust by, negative or positive.
- Memo: Enter a memo for the adjustment if required.
- Add: Click here to add the tax adjustment line.
- Memo: A memo for the bill can be written here.
- Address: The Vendor’s Address (This can be edited here).
- Exchange Rate: For a foreign Vendor. The exchange rate can be edited here.
Video Tutorial:
Related Articles:
