Invoices/Bills

Navigation: Accounting - Invoices/Bills

Purpose: To enter invoices received from vendors into the system.

If you had previously entered a Purchase Order, this can also be attached to the Bill.

• Select the Vendor (you can use the dropdown or type in the vendor name)
• If the Vendor is not on your list, once you type in the name and navigate to any other part of the form you will be asked to add the vendor.

• If there is a Purchase order for the vendor you are creating the Bill for you can attach it.

When entering the information in the Bill form:

• The
• "Date "date is the date on the Invoice
• "Bill Due date" is when the Bill is due to be paid
• "Posting Date" is the date that the Bill is posted to your Financials (General Journal)
• "Amount due" is the total amount on the Invoice
• "A/P Account" is the Accounts Payable account you would like to use for the Bill.  The system will put in the default A/P. if this is a Bill for your Reserve, you can change it to your Reserve Accounts Payable account
• "Terms" is the Invoice due in i.e. 15 days, 30 days, etc.
• "Invoice No." is the invoice number on the invoice
• "Memo" is what is posted on the Cheque Stub
• "Account" is the Expense Account
• "Amount" is the total amount on the Invoice
• "Tax Code" i.e. HST, PST, Etc. calculates the tax for the bill if the Corporation is Commercial or mix
• "Tax Amount" is the tax calculated (This amount should be the same as it shows on your Invoice)
• "Memo" is what's posted to the General Journal particulars (If you leave this blank, it will default to what you entered in the first Memo)
• "PO #" is the purchase order that was selected
• "Reverse Remaining Accrual" is left checked when you know that you will not be receiving any more invoices and will reverse the entire amount of what was accrued from the Purchase Order.

NOTE: If there is more than one bill then you should uncheck this and leave the PO accruing.  The next time you enter a Bill for this vendor you will be able to attach the Bill again until there is nothing more to accrue or you selected to reverse the remaining accrual.