Lesson 18 of 64
Stock, finance & operations
Manage vendors, supplier payments and statements
Keep supplier master data, opening payables, purchases and payments in one traceable account.
Before you begin
Prepare supplier identity, invoice references and payment evidence. Use permitted cash or bank accounts.
Step by step
- Open Vendors and search existing records before adding the supplier's contact and identity details.
- Open Vendor Ledger, choose the supplier and set statement dates.
- Review opening balance and source purchases, returns and payments. Investigate an invoice mismatch before adjusting a balance.
- Record actual payment date, amount, method and paying account. Add the invoice or bank reference when available.
- Reopen the statement and use the available print or export. Check the ending payable against supplier records.
Check the result
Each payment should appear once against the intended supplier and paying account.
Common question
Should an old supplier balance be entered as a fresh purchase?
Use the supported opening-balance workflow for pre-existing payables; a duplicate purchase can overstate stock or debt.