How to register payments.
To register payment, follow the steps discussed below in the accounting module as we create a bank statement:
Step 1. Search the bank in which you wish to record the transaction as shown below. Then click on the (3dots) as shown below.
Step 2. On the new page that opens up,Click on statements as shown below.
Step 3. On the new page that opens up, click on create to create new bank statements as shown below.
In this case, we paid the supplier using a cheque from the Co-Operative bank and we recorded the details as shown below.
Step 4. Indicate the maturity of the cheque as well as the cheque number as shown below.
Step 5. Continue to record all transactions relating to these bank accounts until you are done.
Step 6. When done, click on save button and reconcile button to reconcile the payment made and the invoice received from that particular supplier.
N.B: Reconcile on a daily basis.
On successful paying the supplier, the stage of payment will be indicated as paid as shown below.
Next: How to Reconcile Statements