How to record Pay Bills

Overview:

Managing supplier payments efficiently is a critical part of your accounting workflow. In the QNE AI Cloud Accounting, the Pay Bills module allows users to settle outstanding bills or APVs (Accounts Payable Vouchers) with ease. This guide provides a step-by-step process on how to create a Pay Bills transaction to help maintain accurate financial records and ensure seamless supplier payments.

Scenario:

Your company has received goods and services from a supplier and already recorded the Purchase Invoice (APV). Now, it's time to settle the payment. You want to record the actual payment transaction in QNE to reflect it accurately in your books and ensure that the APV is properly knocked off.

Solution:

1. Go to Account Payable > Pay Bills

• Navigate and select Account Payable, then click on Pay Bills. This is where all supplier payment transactions are managed.
   

2. Open the Pay Bills Module

• Once inside the Pay Bills module, you’ll see a list of all previous Pay Bills transactions.    Click the Add button to begin creating a new payment entry.
   

3. Fill in the Pay Bills Form

• Supplier Field: Select the name of the supplier you are paying. QNE will automatically fill in default values such as Purchaser and Term.

• Reference No.: (Optional) Enter a reference number, such as the check number or transaction ID.

• Amount: Input the total value of the payment you are issuing.

• APV Selection: Below, you will see a list of open APVs (Purchase Invoices) for the selected supplier. Tick the checkbox under Match to knock off or offset the bill being paid.

• Ensure that the payment amount aligns with the total of the matched APVs.
   

4. Save the Transaction

• Once all required fields are completed and you've matched the APV(s), click Save to finalize the transaction.
  

5. System Prompt for Mismatched Amounts.

• If the Payment Amount doesn't match the selected APV(s), a confirmation will appear. Click Yes to proceed and save the transaction automatically.
  

6. Preview the Payment Voucher.

• After saving, click the Preview button to view the Payment Voucher Form. This can be printed or exported as needed for documentation and audit.
  

Application:

The Pay Bills function in QNE AI Cloud Accounting ensures proper handling of supplier payments by allowing users to directly apply payments to existing APVs. This minimizes human error, streamlines the accounting process, and keeps your accounts payable ledger updated in real time. Regular use of this module also improves financial transparency and supports better decision-making in managing company expenses.