Basic Purchase Settlement

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Accounts Payable

Let us check how the Accounts Payable are tracked in POSibolt.

Track Unpaid PO

The unpaid PO (purchase orders) are listed in the Purchase Settlement menu.

Ps.png
Ps.png

Click on Purchase Settlement

Type the first three letters of the name of the vendor. All the vendors with those letters in their name will be listed.

Highlight the specific vendor

On right hand side, you can see the information of the vendor.

Click on Show Invoice-wise Details. You will be directed to the Invoice details of the vendor.

This page is divided in to five parts:

  • Open Items : Posibolt will return the open items which are the items delivered but not yet paid.

You can select any unpaid PO and quickly settle the amount due.

Send Payment To Vendor

  • Put a tick mark on the open items you wish to make a payment for.
  • In the Enter amount field, type in the amount paid to the vendor. As in the above fig, for the open amount of 539.40 the paying amount entered is 100.
  • If there are more lines and paying amount is entered for each one, then you can get the total of all the lines.
  • You will get the total of all the amount the vendor is paying.
  • Under Make Bulk Payments, enter the amount you are about to pay in the paying amount field.
Ps 1.png
Ps 1.png
  • The total amount entered in the Open Item table (refer fig 9), is listed here as Pay Amt Total.
  • This amount is to be entered in the paying amount field. If there is any mismatch in the amount you will get a warning pop up box, mentioning the same.
  • Enter Discounted amount, if any.
  • Select the payment method.
  • Enter the routing number if the payment mode is cheque or Direct deposit.
  • For any past date transactions, just enter the past date in the Date of Accounting.
  • Click on Pay.
  • Show allocated invoices will list all the invoices which are paid to the vendors.
  • The partially paid amount will be listed under the column paid amount.

Over Payments

  • To create an overpayment for a vendor, enter the amount (without selecting an open item) and click on Pay.
  • The paid amount will be added to the over payments table
  • If you wish to allocate a payment to an open item,

Select the open item to which you need to pay back

Select the allocate check-box. This is because if there are many overpayment lines,

you can choose which payment amount is to be allocated.

  • Click on Allocate button.

-->We also provide an option to allocate the over payments automatically to an open item. For example, if there are three to four open items, and an overpayment comes to the system, it will get allocated to the open items in a FIFO manner. That is the open item which is created first. This feature needs to be enabled from the Client Configuration menu, under miscellaneous section,

Drafted Payments

  • You can also draft payments and complete at later point of time or delete them.
  • If the role has the privilege to draft a document, the user will have the save button enabled.
  • To save a payment, enter the amount and click on save.
  • Click on the complete button, this payment will come under the overpayment table.
  • To delete a drafted payment, just click on the delete button.

Other Features

  • Show Allocated Invoices will display all the invoices that are completed.
  • Note that for goods returned items, Posibolt assumes that a credit memo was immediately issued to your store. The credit note can be allocated to any of the vendor's invoices.
  • If a vendor is using foreign currency, all the payments, except cash, will be in vendor currency. All cash payments will be in default currency.
  • Also if you make over payments in cash, this cash amount and open balance will be displayed in default currency.

Vendor's Ledger List

Posibolt allows you to quickly view all the vendor's invoices. For a particular vendor, click on Show Ledger. As for any reports, you can add filters and sort the information to identify exactly what you are looking for.


Generate Vendor Statement of Accounts

A vendor statement of account is a record of the transactions that have occurred on a vendor's account during a specified period of time. The line items on the account will record information about sales made by the vendor, any payments received by the supplier and any other miscellaneous adjustments that have been made to the current balance due on the account.

Vendor statement.png
Vendor statement.png

To generate a vendor statement of account, just select the vendor's name and specify the period of time over which you want to see this statement.

  • On the right hand side we can see the information of the vendor.
  • To view the statements of all vendor, put a check on All Vendors check box.
  • To view the statements of outstanding vendor only, click on 'All Outstanding vendors'.
  • In the option, Statement By, we select by month or by date range.
  • If selected the date range then you have to select To and From.

Basic User Manual



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