| | Supplier payments and payments on account |
| Description | This article shows how to record supplier payments and match them with invoices. This helps track unpaid invoices and supplier balances.
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| Resolution | How this works - Only use this for money paid to a supplier on account or to pay a purchase invoice
- To pay one or more invoices, enter the details of the payment and choose the invoices that it is paying
- If you don't know which invoice the payment is paying, save the receipt as a Payment on Account. You can then allocate the payment to an invoice later
- If you have overpaid the supplier:
- You may be keeping the money on account to pay another invoice later. Save the overpaid amount as a Payment on Account and allocate it to another invoice later
- The supplier may be planning to send you a refund. Save the remaining amount as a Payment on account and then allocate it to the refund when you receive it
Read more about Supplier Refunds - For cash purchases and expenses where you do not have an invoice, use the Other Payment tab instead
If importing transactions directly from a bank feed or from your bank statement, you can: - Save the payment as a payment on account and match it to invoices later
- Match the payment to purchase invoices
- Save any overpayment as a payment on account to match it to a refund later
 NOTE: If you can't find the ledger account you want to use, go to Settings > Business Settings > Chart of Accounts > Select the ledger account > Go to the Visibility section > Select the check box next to the area you want the ledger account to be found > Select Save.
Save as a payment on account - From Banking, select the Transactions link on the relevant bank account.
- Find the payment.
- Choose the supplier from the For drop-down list.
- Choose Payment on Account from the What drop-down list.
- Select Create.
This saves as a Payment on Account. You can match this to purchase invoices later. Match a payment to invoices - From Banking, select the Transactions link on the relevant bank account.
- Find the payment.
- Select Match.
- Select the invoice or invoices you want to pay.
- If you are part-paying an invoice, change the Payment amount in section 2.
- When the receipt is fully allocated, select Match.
Save an overpayment - From Banking, select the Transactions link on the relevant bank account.
- Find the payment.
- Select Match.
- Select the invoice or invoices you want to pay.
- Select New Transaction in section 2.
- Choose Payment on Account - This allows you to match to another invoice or refund later.
- When the receipt is fully allocated, select Match.
- From Banking, open the required bank account.
- Choose New Entry then Purchase / Payment, then select the Supplier Payment tab.
- Complete the details of the payment.
- For a new supplier, choose Add a Supplier from the drop-down list
- To change to a different bank account, choose the new account from the Paid From Bank drop-down list
- Add a Reference to help you track the payment and match it with your bank statement
- Enter the Amount paid.
Leave the amount blank, to calculate the total payment amount from the invoices paid. - Select the check box next to each invoice that you want to pay.
To pay all outstanding items, select the check box in the top left.
As you select each invoice, the Left to allocate value updates.
NOTE: The Left to allocate value must be 0.00 to save the allocation. - Save the payment.
Part pay an invoice - Select the Paid column for the invoice you want to part pay.
- Enter the amount of receipt as the Amount to pay.
- Choose Apply.
Add a discount If the supplier has offered you a discount, you can record this when allocating your payment: - Select the Edit icon next to the Outstanding amount.
- Enter the amount to pay less the discount and choose Apply.
- Select the Edit icon next to the Discount amount.
- Enter the amount of the discount and choose Apply.
This explains what to do when you overpay a supplier. You can either save the remaining amount as a Payment on Account. Use this to pay a future invoice. If your supplier sends you a refund, record this as a refund transaction and match it to the overpayment. Save the overpayment - Choose the invoices you want to pay and Save.
- Choose Yes when asked to save as a Payment on Account.
Records a refund If the supplier sends you a refund, create a Refund for the overpaid amount and match it to the Payment on Account. - From the Bank account, choose New Entry, then Sale / Receipt.
- Select the Supplier Refund tab.
- Choose the Supplier and complete the remaining details.
- The details of the Payment on Account show in the rows at the bottom. Choose the check box for the Payment on Account and Save.
Read more about Supplier refunds You’ve successfully recorded the supplier payment and discount. The invoice now shows as either paid or part-paid if there is anything left to pay. [BCB:299:UKI - Personal content block - Dane:ECB][BCB:303:UKI - Search override - Accounting IE:ECB][BCB:276:UKI - hide back button:ECB] |
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