Create and manage vendor bills
To help you keep track of how much you owe your vendors and any outstanding amounts, when you receive an invoice from them, you can record this in Accounting. Before you can record the bill, if you haven’t already done so, create a record for the vendor.
Note: If you regularly purchase the same products, you can create a product record to save time when entering invoices.
About creating vendor bills for stock items
Your stock movement is tracked by recording the buying and selling of stock items. Each stock movement has a type which records whether stock was bought or sold. For example, if you create a vendor bill that includes a stock item, a Goods In transaction is created and automatically increases your count for the item.
To create a vendor bill
Note: The information for the chosen product or service appears on the next available invoice line. If necessary, you can change this information. If you need to create a new record, click Add Product. Enter the relevant information and Save.
- From Expenses, click Vendor Bills.
- Click New Bill.
Enter the following information:
Vendor. Enter the vendor name. As you type, a list of vendors appears. Choose the vendor from the list.
Tip: To add a new vendor, click Add a vendor. Enter the relevant information and Save.
- Bill Date. Enter the invoice date.
- Due Date. This date automatically calculates from the payment terms entered in the vendor's record. If you haven’t entered any custom payment terms, it calculates based on the default number of credit days in your business' default settings. If required, you can overwrite this date.
- Vendor Reference. If required, enter a reference from your vendor, for example, their invoice number.
- Reference. If required, enter an additional reference, for example, a purchase order number.
To record the purchase of a specific product, enter the name of the product in the Search for Product field and then choose the relevant product.
To add more products to the bill, repeat the step above.
If you don’t want to add a product to the bill, enter the following information:
- Description. The description for the purchase.
- Ledger Account. Choose the ledger account.
- Qty/Hrs. Enter the quantity of items purchased or number of hours.
- Price/Rate. Enter the net value of the item.
The total gross value of this item line is shown under Total.
If you’ve created transaction analysis types, for example departments, click the Finder (arrows icon) and choose the relevant analysis category.
To add more transactions, on the next line, repeat as above.
If required, enter any notes.
If you want to attach a file (for example, a copy of a receipt), click the Attachment button, click Upload files, and then browse to and double-click the file. Learn more about attachments
Choose one of the following options:
- Save as draft. To save the bill as draft select the Save as draft check box and click Save. Use this option if you’re not ready to finalize the bill yet to prevent posting to the ledger accounts. When you’re ready to post, open it, make any changes as necessary, clear the Save as draft check box, and then click Save.
- Save. To save the bill only.
- Save & New. To save the current bill and then enter a new one.
The bill displays in the vendor's activity.
To manage an existing bill
- From Expenses, click Vendor Bills.
Click an unpaid bill. You cannot edit paid bills but you can void them.
You can record a payment against the bill. From More, you can create a credit note or indicate that the bill is now Set as Disputed.
Note: If you dispute a bill, the values remain in your accounts. You can clear the dispute status from a bill by opening it and then selecting Clear Dispute from More.