Bills and invoicing
I have a large amount of invoices from a supplier, I also have some bills from the same supplier.
how do I apply these bills owing to this supplier to their open invoices.
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Hi Mk2022
Here is the way I would deal with that situation:
- Go to Accounting>>Chart of accounts
- Select to create an account - give the account a number, a name, and set the account type to Bank...
- Once that account has been created, you would go to Sales>>Create invoice payment
- Select that newly created account as the bank account and process the payments for those invoices as per normal.
- Once you have recorded those payments, go to Purchases>>Create supplier payment
- Select that newly created account as the bank account and process the payments for those invoices as per normal.
The above process will put the funds from those invoices into a holding account and then use those funds again to pay off the purchases.
