Description
Review this article and video for a high level overview of paying Bills in AP with SoftLedger.
Below breaks out all the steps from creating a Bill and approving it, to creating a credit for a vendor, and applying that credit against the Bill. The below diagram illustrates the whole process:
Step 1: Create the Bill
For any Vendor, you can create a Bill as a Document to show you are expecting to pay for goods or services. Create a Bill from AP>Bills and filling in the required fields:
Once entered and reviewed, you will need to Approve the Bill so that it is ready to be paid.
Step 2: Pay the Bill
A Bill can be paid from under Cash Management>Pay Bills in three different ways (see the options in detail below):
Manual Payment or Printed check
Manual payments are a way to mark Bills as paid and potentially print the associated check to send to the Vendor. You can mark a Bill as manually paid from the Cash Management>Pay Bills page.
Each Bill payment creates a payment object. From here you can approve or delete the payment object under Cash Management>Pay Bills>Payments(AP)
Once approved you can print the check or void the payment from the Actions menu:
Vendor Credit
Create a Vendor Credit from the Cash Management>Pay Bills>Vendor Credits page by entering the required details. (Note: A vendor credit can only be applied to bills with the same currency.)
Once a Vendor Credit is applied to a Bill, a payment object is created.
Approve the Payment under Cash Management>Pay Bills>Payments (AP) to finalize the Bill Payment.
Batch Payment
Select and group bills together to be paid by one payment (batching those bills together). This can be done for the same vendor if paying multiple bills at once, or across vendors if using a cash disbursement type of application to pay more than one vendor at once.