Each time a transaction is made for the purchase-related transaction, the system will always prompt for a vendor. These transactions are captured in a vendor journal where a user can view and settle them using various methods.
Settling Vendor Invoices
- Navigate to Purchases > Vendor Settlement.
- Search for a particular vendor either by Vendor Code or Vendor Name; Alternatively, you can press search without any values to list all vendors.
- The grid will display the Total Purchase amount, Total Payment Amount, Open amounts, and the Current Balance for each vendor retrieved.
- Click on a vendor and the RHS (Right Hand Side) will populate with the current creditor’s information and balances, along with three buttons ( SHOW INVOICEWISE DETAILS, SHOW LEDGER, PAY) and a checkbox (Show Allocated Invoices).
a) Show invoice wise details
The grid will populate with all open invoices, simply tick all the invoices you would like to settle and press PAY; Alternatively, you can tick one invoice and enter the payment amount in the PayAmount field.
When making a partial payment, enter the amount in the PayAmount field and make sure to set the discounts to 0 as the system automatically writes off the unpaid value to the discount field.
b) Pay
when using the pay functionality, you can capture a payment not relating to any invoice. This payment will appear as an entry in the Previous Overpayments section. To allocate this payment to an invoice/s, tick the entry in the Previous Overpayments section, tick all the invoices in the Open Invoices section you would like to allocate this payment to and press Allocate.
c) Show ledger
Posibolt allows you to quickly view all the vendor’s invoices. For a particular vendor, click on Show Ledger. As for any reports, you can add filters and sort the information to identify exactly what you are looking for.
d) Show Allocated Invoices
This will display all the invoices which have payments allocated to them.
