Jessica: I just bought 100kg of squid and 10 kg oysters, and the vendor just sent me an invoice to pay. What can I do about it? 


Just as you would invoice your customers, you will receive invoices from the vendors when buying goods/services from them as well. Vendor invoices, or vendor bills as we call them for better distinguishment, specify the products, quantities, and agreed prices that you have to pay within a certain amount of time. To keep a good practice, be sure to record all vendor bills as accounts payable right up receiving them, and this way you will be able to plan the company cash flow in advance and clearer.


Go to Expenses > Vendor Bills and click on the "New" button.

 


Fill the header

  1. Enter the bill (invoice) number of the bill you received. 
  2. Set Date and Due Date to remind yourself of the future payment. 
  3. Check "Currency" and "Currency Rate". You can specify whatever currency you need,  and the latest exchange rate will be adopted as default. You can specify your actual rate. 
  4. Specify PO/SO # if the bill relates to existing purchase or shipping orders. 
  5. Select a vendor or click "Add" to create a new vendor, or "Edit" to update vendor's information. 

 


Fill the items

  1. Select products listed in the bill .You can click "Add" to create a new product. 
  2. Specify quantity/price of products. 
  3. Click "+  Line Item" to add more items in this quotation. To remove an item, click the "x" icon. 
  4. If prices are discounted for some of the items, input the final price in the Unit Price field. 

 


Fill the additional information

  1. Set an overall discount percent if applicable. 
  2. Enter Memo for internal use. 
  3. Pymlo has calculated total amount for you automatically. Click "Save". 


Manage your vendor bill list

Now you will be re-directed back to the vendor bill list screen, where you can find the new bill marked as "Outstanding".

You can "Edit", "Add a payment", or "Delete" in its "Action" or use the filters to find other bills in a certain period and/or with certain number/vendor.

 



The bill amount will be kept as an account payable in your book. Be sure to tend to future payments to retain good connections with your vendors.