Accounts Payable - Open Bills

Payables represent the amounts a you owe to your suppliers or vendors for goods or services received but not yet paid for. These liabilities are recorded on the company's balance sheet and reflect the company's obligation to make future payments. Managing accounts payable involves tracking these obligations and ensuring timely payments to maintain good supplier relationships and avoid late fees or penalties. Effective accounts payable management is crucial for maintaining the company's short-term financial health.

1. To go to Open Bills section go to Accounting Menu and Select Payables, you will be prompted to the Open Bills Tab.

2. Here you will see all your Open Bills towards your vendors. To pay a bill, simply select one of the bills or multiple or a batch. And click on Mark Paid. 

3. From here you will be prompted with a popup window to enter details.

4. You will be setting you Paid Date, and adding a Payment Reference.

5. Select your payment method from the drop down list. 

6. Select your founding account from which you want to pay this bill.

7. Set the amount that was paid for this bill. And click on the blue Mark Paid Button.

Success, you've paid your bill.

Please note: if you pay a less amount, it will stay in the Open Bills section, only the Open Balance will change. That means that there is still some amount to be paid. And you won't be allowed to pay more on this bill than the amount in the Open Balance.