An bill must be created for every transaction wherein your business receives (or plans to receive) money from a supplier. You can create an bill as follows:
Entering An Bill
The Bill Header
- If you are not already on the User View, click the Switch View hyperlink on the VersAccounts top menu bar and chose user view.
- Go to Bills / New Bill
- Select the Date for which on which the bill is to be issued. (This date will be used for aging the bill.)
- Choose the Supplier from the drop-down list of active suppliers.
- Enter the supplier's Sales Order Number related to the bill.(Optional)
- Enter your company's internal reference number.(Optional)
- Select the payment terms that apply for this particular bill.
- Select the currency in which the bill must be paid
- The default will be your company's base currency.
- The payment terms and currency fields will be populated automatically when you select the supplier from the drop-down list. You can change either of these fields if you want.
- Note: If the bill is payable in a foreign currency, then you will want to enter a multiplier for the current exchange rate. This is the number by which the foreign currency value will be multiplied to convert it to your firm's base currency.
- Enter a Message to be displayed on the bill.
- This message will be visible to staff when they view the bill.
- This will create the bill, with an automatically assigned bill number, and allow you to begin entering its line items.
- Click the Create Bill button.
Bill Line Items
- Select the General Ledger account to which you would like to post revenues for the bill.
- The drop-down list will include all G/L revenue accounts as well as an entry for supplier deposits.
- Complete the fields for the each line item of the bill. This must include:
- Item Description
- Either a Quantity & Unit Cost OR the Amount billed for the line item
- Applicable Taxes
- Here you can either apply calculated the taxes by ticking the relevant box OR override the calculations by ticking the box and entering the amount shown on your paper receipt.
- Select an Order Shipment from the "Link to Shipment Receipt" drop-down list. (This list will contain only shipment receipts for which no bill has yet been entered. When you select an Shipment Receipt, the Bill Line Item will automatically be populated with information from the corresponding Purchase Order. You can edit the line item as appropriate.)
- Select a Service Purchase Order Item from the "Link to Service Purchase Order Item" drop-down list. (This list will contain any service items on Purchase Order that have not been completely billed.)
- Optional: Select a project number from the "Link to Project" drop-down list if this bill item related to a project. (This list will contain any projects that are currently open.)
- Click the Create Line Item button.
Editing Line ItemsIf you need to edit a line item after it has been created:
- Click on the Item Number hyperlink to the left of the line item.
- This will bring the item into the editing area.
- Perform any required changes to the item
- Click the Update Line Item button.
Deleting Line ItemsIf you need to delete a line item after it has been created:
- Click on the [X] hyperlink at the right of the line item.
- Click OK on the pop-up confirmation box.
Posting The BillA valid bill will contain a header and at least one line item. Once a valid bill has been created, you will have the option of either posting or deleting it. The relevant buttons will be displayed at the bottom of the screen.
Post & PayIf you wish to post the bill and apply payment to it later, then click post. Alternatively, you can use the Post & Pay area to post the bill and pay it in full in a single step.
- Choose a date (the default is the bill's date)
- Enter a payment reference number.
- This field must be unique. Most people would use the supplier's cheque number.
- Choose the account from which you wish to make payment.
- Choose the Payment Method
- Click the Post & Receive Payment button.
Payment DisbursementIf you clicked on the "Post & Pay" button, the next view will be the Payment Disbursement screen, where you can see the details of the payment and, if necessary, print the related cheque. To print a cheque:
- Click on the "Print a Cheque" hyperlink. (A new window will pop up with a printable image suitable for a standard 3-section business cheque stock.