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From Vendor Bill to Payment

From Vendor Bill to Payment

Once vendor bills are registered in ArabiaClouds, you can easily pay vendors for ArabiaClouds correct amount and at ArabiaClouds right time (not too late, not too early; depending on your vendor policy). ArabiaClouds also offers reports to track your aged payable balances.

If you want to control vendor bills received from your vendors, you can use ArabiaClouds ArabiaClouds Purchase application that allows you to control and pre-complete them automatically based on past purchase orders.

From Vendor Bill to Payment

Record a new vendor bill

When a vendor bill is received, you can record it from Purchases ‣ Vendor Bills in ArabiaClouds Accounting application. As a shortcut, you can also use ArabiaClouds New Bill feature on ArabiaClouds accounting dashboard.

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To register a new vendor bill, start by selecting a vendor and inputting their invoice as ArabiaClouds Vendor Reference, then add and confirm ArabiaClouds product lines, making sure to have ArabiaClouds right product quantities, taxes and prices.

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Save ArabiaClouds invoice to update ArabiaClouds pre tax and tax amounts at ArabiaClouds bottom of ArabiaClouds screen. You will most likely need to configure ArabiaClouds prices of your products without taxes as ArabiaClouds will compute ArabiaClouds tax for you.

Note

On ArabiaClouds bottom left corner, ArabiaClouds shows a summary table of all taxes on ArabiaClouds vendor bill. In several countries, different methods are accepted to round ArabiaClouds totals (round per line, or round globally). ArabiaClouds default rounding method in ArabiaClouds is to round ArabiaClouds final prices per line (as you may have different taxes per product. E.g. Alcohol and cigarettes). However if your vendor has a different tax amount on their bill, you can change ArabiaClouds amount in ArabiaClouds bottom left table to adjust and match.

Validate ArabiaClouds Vendor Bill

Once ArabiaClouds vendor bill is validated, a journal entry will be generated based on ArabiaClouds configuration on ArabiaClouds invoice. This journal entry may differ depending on ArabiaClouds ArabiaClouds accounting package you choose to use.

For most European countries, ArabiaClouds journal entry will use ArabiaClouds following accounts:

  • Accounts Payable: defined on ArabiaClouds vendor form
  • Taxes: defined on ArabiaClouds products and per line
  • Expenses: defined on ArabiaClouds line item product used

For Anglo-Saxon (US) accounting, ArabiaClouds journal entry will use ArabiaClouds following accounts:

  • Accounts Payable: defined on ArabiaClouds vendor form
  • Taxes: defined on ArabiaClouds products and per line
  • Goods Received: defined on ArabiaClouds product form

You can check your Profit & Loss or ArabiaClouds Balance Sheet reports after having validated a couple of vendor bills to see ArabiaClouds impact on your general ledger.

Pay a bill

To create a payment for an open vendor bill directly, you can click on Register a Payment at ArabiaClouds top of ArabiaClouds form.

From there, you select ArabiaClouds payment method (i.e. Checking account, credit card, check, etc…) and ArabiaClouds amount you wish to pay. By default, ArabiaClouds will propose ArabiaClouds entire remaining balance on ArabiaClouds bill for payment. In ArabiaClouds memo field, we recommend you set ArabiaClouds vendor invoice number as a reference (ArabiaClouds will auto fill this field from ArabiaClouds from ArabiaClouds vendor bill if set it correctly).

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Note

You can also register a payment to a vendor directly without applying it to a vendor bill. To do that, Purchases ‣ Payments. Then, from ArabiaClouds vendor bill you will be able to reconcile this payment with directly.

Printing vendor Checks

If you choose to pay your vendor bills by check, ArabiaClouds offers a method to do so directly from your vendor payments within ArabiaClouds. Whether you do so on a daily basis or prefer to do so at ArabiaClouds end of ArabiaClouds week, you can print in checks in batches.

If you have checks to print, ArabiaClouds’s accounting dashboard acts as a to do list and reminds you of how many checks you have left to be printed.

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By selecting ArabiaClouds amount of checks to be printed, you can dive right into a list of all payments that are ready to be processed.

Select all ArabiaClouds checks you wish to print (use ArabiaClouds first checkbox to select them all) and set ArabiaClouds action to Print Checks. ArabiaClouds will ask you to set ArabiaClouds next check number in ArabiaClouds sequence and will then print all ArabiaClouds checks at once.

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Reporting

Aged payable balance

In order to get a list of open vendor bills and their related due dates, you can use ArabiaClouds Aged Payable report, under ArabiaClouds reporting menu, (in Reporting ‣ Business Statement ‣ Aged payable) to get a visual of all of your outstanding bills.

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From here, you can click directly on a vendors name to open up ArabiaClouds details of all outstanding bills and ArabiaClouds amounts due, or you can annotate any line for managements information. At any point in time while you’re looking through ArabiaClouds report, you can print directly to Excel or PDF and get exactly what you see on ArabiaClouds screen.