Pay Bills

This screen is for paying the bills you have already created.  This screen lets you record the payment against the unpaid bills.

1. On the Vendors menu, click Pay Bills

To enter a payment for unpaid bills, you must select the vendor and the accounts payable.  The accounts payable is automatically selected if there is only one accounts payable available.  If more than one accounts payable available the default accounts payable is selected.

After selecting the vendor and the accounts payable, all the unpaid bills are displayed in the list.  The amount due column shows the bill balance.  Column Credits shows the credits you have applied using the Set Credits button.  To apply the credits, click Set Credits button.  The Payment column shows the amount you have applied to the bill.

You need to specify the bank account in which you are paying money from.  You also need to specify the payment method.  If the payment method is Cheque, you have the option to enter the cheque number, cheque date, and the cheque bank.

If you do not want the payment to be reflected in your general ledger and bank account, uncheck ’r;Post this transaction’ option.  If you check Post this transaction option the transaction will create records in general ledger, update your bank account, and update your vendor’s balance.  However if you uncheck the option only the vendor’s balance is updated.  There will be a reminder to remind you when the post-dated cheque is due and will reduce your bank account.