Record vendor invoices in Accounting to track amounts owed to vendors. Create vendor and product records before entering vendor bills to improve accuracy and speed.
Creating a vendor bill for a stock item records a Goods In transaction and increases the stock quantity. Sage Accounting posts a Credit to Accounts Payable for each line item with a positive amount.
To create a vendor bill
From Expenses, click Vendor Bills.
Click New Bill.
Enter the following information:
Vendor
Enter the vendor name and select from the list. To add a new vendor, click Add a vendor.Enter the information and click Save.
Bill Date
Enter the invoice date.
Due Date
This date calculates from the payment terms in the vendor's record. Overwrite if necessary.
Vendor Reference
Enter a reference from your vendor, like their invoice number.
Reference
Enter an additional reference, like a purchase order number.
Search for Product
Enter the product name and choose the relevant product. Repeat to add more products.
If not adding a product, enter:
Description
Enter the purchase description.
Ledger Account
Choose the ledger account.
Qty/Hrs
Enter the quantity or hours.
Price/Rate
Enter the net value.
Total
The gross value of the item line.
If using transaction analysis types:
Click the Finder and choose the relevant category
Repeat to add more transactions
Enter any notes if required
To attach a file, click the Attachment button, click Upload files, and select the file.
Select Save.
Managing an existing bill
Go to Expenses and select Vendor Bills.
Open an unpaid bill.
Choose an action:
Record a payment against the bill
Select More to create a credit note or mark the bill as disputed
Clear a dispute
Open the bill, select More, then select Clear Dispute.