What is an Outgoing Payment?
An outgoing payment is any payment that is going toward a Vendor, Customer, or Third Party. Use this module to create or update the Outgoing payment.
The Outgoing Payment module.
Outgoing Payment Fields
Outgoing Payment Header
- Payment Method: The method of this outgoing payment.
- Date: The transaction date of this outgoing payment.
- Payment Account: This account will get credited for the outgoing payment. Click to automatically calculate this value.
- Payment Amount: This is the total payment amount, it must be equal to the sum of all payment lines below.
- Payee: The entity this outgoing payment is going to.
- Exchange Rate: If the payee is foreign, enter an exchange rate here.
- Address: The Shipping and Billing addresses of the payee, scroll through the to/fro button to change the addresses. You can also edit the address.
- Cheque Number: This field applies if the payment method is Cheque. Enter a number, or click to automatically generate the next cheque number from the system – it is incremented from the previous number, or check “Print Later?” to print the cheque number later from the queue.
- Project/Class: You can select either Project or Class to assign the specific outgoing payment or leave it as Nothing selected
- Ref Number: If required, enter a reference number for the outgoing payment.
- Memo: If required, enter a memo for the outgoing payment.
Outgoing Payment Lines
- Store: If required, select a store for the payment line.
- Expense Account: Select an expense account for the payment line.
- Amount: Enter an amount for the payment line.
- Entity: If required, search and select an entity to associate with the payment line.
- Tax: If required, select a tax for the payment line.
- Memo: If required, enter a memo for the payment line.
- Add: Click this button to add the payment line.
The descriptions below refer to the column heading of the Item.
- Store: The store of the payment line, click it to edit.
- Account: The account of the payment line, click it to edit.
- Amount: The amount of the payment line, click it to edit.
- Tax Code: The tax of the payment line, click it to edit.
- Entity: The entity associated with the payment line.
- Memo: The memo of the payment line, click it to edit.
Video tutorial:
