Bills and vendor credits

A bill is what a vendor has invoiced you: the rental house, the caterer, the colorist. Bills keep track of what you owe and when it is due. They are part of Books in double-entry: see Switch to double-entry accounting.

Enter a bill

1. Go to Books > Bills and press New bill.
2. Choose the Vendor. Add the vendor in Vendors first if it is new.
3. Enter the Bill number (the number on their invoice), the Bill date and the Due date. A vendor's payment terms fill the due date for you.
4. Add a line for each part of the bill, each to the account the money was spent on: an expense such as equipment rental, or Equipment for gear you are buying to keep. A line can name a project.
5. Press Save and open, or Save as draft if you are still working on it.

A draft owes nothing yet. Once a bill is open, your books show that you owe it until it is paid.

You can also make a bill from a purchase order.

Pay a bill

Open the bill and press Record a payment. Enter the payment date, the amount (it shows the balance) and Paid from: the bank or card you paid with. If the payment has not reached your bank feed yet, choose Match it later; it waits in Payments to match on the Banking page until you match it to the bank line.

A bill reads as partly paid, paid or past due from its payments. Void payment puts the amount back on the bill.

Cutvey records the payment. It does not send money to the vendor.

Vendor credits

A vendor credit is money a vendor owes you back, such as a return or an overcharge. Press Add a vendor credit, then on one of that vendor's bills press Apply credit to pay less. Take credit off undoes it.

Change or void a bill

A bill with a payment or a credit against it can only change its number, due date and memo. To change anything else, void the payment first. Void bill cancels a bill.

Reports

Book Reports include what you owe by vendor and by how late it is, and a 1099 report of what you paid each vendor you marked as a 1099 vendor. These are worksheets for you and your accountant. Cutvey files nothing.