A bill is created when your business needs to pay a supplier for goods or services. 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 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 a 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 a 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.