How to pay a supplier and read the ledger
Pay the balance of a supplier's purchase, confirm the purchase is marked Paid, and read the supplier ledger with every purchase and payment.
In this video
- Find the purchase with a payment due
- Record the payment
- Read the supplier ledger
Step by step
- Find the purchase with a payment due in the purchase list.
- Choose Add Payment, enter the amount, the date and the method, and save.
- Check that the purchase now shows Paid.
- Open the supplier ledger to see every purchase, return and payment with the running balance.
Why it matters
Paying suppliers on time protects your terms and your name in the market. The supplier ledger is what you compare with the statement the supplier sends you; when the two agree, your payables are right.
All Purchases videos
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2:10
Lesson 1
How to create a purchase order
Order goods from a supplier with a purchase order: pick the supplier, add the products and quantities, set a delivery date, and track the order until it is received.
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2:17
Lesson 2
Receiving goods against a purchase order
Receive a delivery by creating the purchase from the purchase order: the lines fill in automatically, stock goes up, VAT is added, and a part payment is recorded.
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2:29
Lesson 3
How to enter a supplier invoice with VAT
Enter a supplier's invoice directly: the supplier's reference number, the products with the invoiced cost, VAT, and full payment by bank transfer.
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1:53
Lesson 4
How to return goods to a supplier
Send goods back to a supplier with a purchase return, which issues a debit note against the original purchase and takes the items out of stock.
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