If you havenít already read the Vendor Payments Overview, see Entering vendor payments for more information.
In this step, youíll indicate which purchases will be affected -- what debt will be reduced or ìpaid off,î in effect -- by the vendor payment. Youíll make these entries in the scrolling list in the bottom half of the Vendor Payments window.
- Depending upon the selections youíve made in the Preferences window, the amount you entered in the Amount field may have been applied automatically to the transactions in the scrolling list, starting with the oldest open bill first. These entries, however, are merely suggestions; you can apply the payment to any transactions you want.
Keep in mind that the total amount you apply in the Amount Applied column must equal the amount that appears in the Amount field before you can record the transaction.
- Enter the amount you want to apply the vendor payment in the appropriate field in the Amount Applied column.
Note: If you overpaid a vendor
If you paid a vendor more than you owe him or her, simply enter the full amount in the Amount Applied column -- in effect, youíll be marking one or more of the transactions as overpaid. When you record the transaction, a vendor debit will be created automatically; you can either apply the debit to a future purchase or accept a refund check from the vendor.
See Vendor Debits Overview for more information.
- To apply the vendor payment to any unpaid finance charges you may have accrued, enter the amount you want to apply in the Finance Charge field.
Keep in mind that the Out of Balance field must equal zero before you can record the transaction.
- Mark the Already Printed option if youíre recording a paper check thatís already been written, or if youíre recording another type of transaction (such as a petty cash payment) that doesnít require a printed check at the end of the transaction.
Entering vendor payments - Step 3
