Payments

Overview

Manage payments to suppliers and customers. Process payments, track payment status, and maintain payment records.

Accessing Payments

1. Click on "Accounting" in the main menu
2. Select "Payments"
3. You will see payment options for suppliers and customers

Supplier Payments

Recording a Supplier Payment

1. Go to "Accounting" > "Payments" > "Suppliers"
2. Click "Record Payment"
3. You will see the payment form

Payment Details

• Supplier: Select the supplier
• Payment Date: Date of the payment
• Payment Method: Check, Bank Transfer, Credit Card, Cash
• Amount: Payment amount
• Reference: Check number, transaction ID, etc.
• Bank Account: Account to debit
• Description: Purpose of the payment

Applying to Invoices

1. Select the supplier
2. View outstanding invoices
3. Select invoices to pay
4. The payment amount will be applied to selected invoices
5. Any overpayment will be recorded as a credit

Partial Payments

• You can make partial payments on invoices
• The remaining balance will be due
• Track partial payments in the invoice details

Customer Payments

Recording a Customer Payment

1. Go to "Accounting" > "Payments" > "Customers"
2. Click "Record Payment"
3. You will see the payment form

Payment Details

• Customer: Select the customer
• Payment Date: Date of the payment
• Payment Method: Check, Bank Transfer, Credit Card, Cash
• Amount: Payment amount
• Reference: Check number, transaction ID, etc.
• Bank Account: Account to credit
• Description: Purpose of the payment

Applying to Invoices

1. Select the customer
2. View outstanding invoices
3. Select invoices to apply payment to
4. The payment will be applied to selected invoices
5. Any overpayment will be recorded as a credit

Partial Payments

• You can receive partial payments on invoices
• The remaining balance will be due
• Track partial payments in the invoice details

Payment Methods

Supported Payment Methods

• Bank Transfer: Direct transfer between bank accounts
• Check: Payment by check
• Credit Card: Payment by credit card
• Cash: Payment in cash
• Other: Other payment methods

Recording Different Payment Methods

Each payment method is recorded differently:

• Bank Transfer: Debit bank account, credit accounts payable/receivable
• Check: Record check number and date
• Credit Card: Record credit card account
• Cash: Record cash account

Payment Status

Payment States

• Draft: Payment not yet recorded
• Pending: Payment recorded but not cleared
• Cleared: Payment cleared by the bank
• Cancelled: Payment cancelled
• Reversed: Payment reversed

Tracking Payment Status

1. Go to "Accounting" > "Payments"
2. View the payment list
3. Check the status column for each payment
4. Click on a payment to view details

Batch Payments

Processing Multiple Payments

1. Go to "Accounting" > "Payments"
2. Click "Batch Payment"
3. Select multiple invoices to pay
4. Review the total amount
5. Click "Process Batch"

Benefits of Batch Payments

• Process multiple payments at once
• Save time on data entry
• Reduce errors
• Generate batch payment reports

Payment Reconciliation

Matching Payments to Bank Transactions

1. Go to "Accounting" > "Banking"
2. Reconcile your bank account
3. Match payments to bank transactions
4. Identify any discrepancies

Uncleared Payments

• Payments that haven't cleared the bank yet
• Common for checks and transfers
• Will clear within a few business days

Payment Reports

Available Reports

• Payment Summary
• Supplier Payment History
• Customer Payment History
• Outstanding Payments
• Payment Aging Report

Generating Reports

1. Go to "Accounting" > "Payments"
2. Click "Reports"
3. Select the report type
4. Choose the date range
5. Click "Generate Report"

Reversing Payments

When to Reverse a Payment

• Payment made in error
• Duplicate payment
• Payment to wrong supplier/customer

Reversing a Payment

1. Go to "Accounting" > "Payments"
2. Click on the payment to reverse
3. Click "Reverse Payment"
4. Confirm the reversal
5. A reversing entry will be created

Best Practices

• Record payments promptly
• Use consistent payment methods
• Keep payment documentation
• Reconcile payments regularly
• Review payment aging reports
• Follow approval procedures
• Maintain audit trail of all payments

Next Steps

After recording payments:

1. Reconcile bank accounts
2. Generate payment reports
3. Manage invoices