Recording a purchase of goods on credit

1. Click the plus sign (+) in the orange banner at the top right of your screen and select Payable Charge. You can also select Expenses, Transactions, and choose New transaction – Payable Charge from the left menu options.

2. Choose the Supplier.

3. Select the Date.

4. Add a Reference (optional) – This could be a cheque number, invoice number, or any other way you want to identify the transaction.

5. Add a Payable charge total (optional)

6. Under Type select EX Expense.

7. Select the expense Account.

8. Add a Description (optional) – Descriptions become important in reports.  Without a good description, some reports won't make a lot of sense.

9. Enter the Total.

10. Select the Tax option as applicable.

11. Click Add a row or press the tab button on your keyboard until a new row appears. Repeat steps 5 through 9 for each additional expense line as applicable.  

12. Review the information.

13. Click Save.

Returning an item purchased on credit

1. Click the plus sign (+) in the orange banner at the top right of your screen and select Payable Charge. You can also select Expenses, Transactions, and choose New transaction – Payable Charge from the left menu options.

2. Choose the Supplier.

3. Select the Date.

4. Add a Reference (optional) – This could be a cheque number, invoice number, or any other way you want to identify the transaction.

5. Add a Payable charge total (optional)

6. Under Type select EX Expense.

7. Select the expense Account.

8. Add a Description (optional) – Descriptions become important in reports.  Without a good description, some reports won't make a lot of sense.

9. Enter the Amount

10. Select the Tax option as applicable.

11. Click Save.

Recording payable payments

1. Click the plus sign (+) in the orange banner at the top right of your screen and Withdrawal. You can also select Expenses, Transactions, and choose New transaction – Withdrawal from the left menu options.

2. Choose the Supplier.

3. Select the Date.

4. Add a Reference (optional) – This could be a cheque number, invoice number, or any other way you want to identify the transaction

5. Add a Withdrawal total (optional)

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6. Under Type select PP Payable Payment.

7. Under Detail select the expense appropriate invoice.

8. Add a Description (optional) – Descriptions become important in reports.  Without a good description, some reports won't make a lot of sense.

9. Enter the Total.

10. Select the Tax option as applicable.

11. Select the invoice you need to pay.  You can also enter the amount you need to apply for each invoice.  .  

12. Review the information.

13. Click Save.

Last updated on October 18, 2023 by FCC AgExpert