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Bills - Paying
If you've entered bills for payment later, or if you are using the Brokering functionality and a broker bill comes due the program will turn on the red BILLS DUE box. To review and/or pay the bills that are due click on the red box that says BILLS DUE. When you click the box the program will display any bills that are due. If there is more than one bill due the red box will say NEXT. When you get to the end of the bills due it was change to No More Bills.
On the screen displaying the bill it will say to "Select a payment account and save". So to pay this bill you would click the Payment Account drop down, select the account you want to use to pay this bill and then click SAVE. The program will then pay the bill -
ATTENTION! the program will automatically set the Type to EXPENSE. If your bill is for a credit card or charge account you will need to change that to PAYABLE. The program will remind you if you forget to do this and the Charge To Account is a Charge account.
If you are paying from a checking account the program will automatically use the next check number. If this is not correct you can change it manually.
You will now have two transactions for this bill. The original bill, which will now show that it was paid by Transaction 1094 (this transaction) and the current transaction which actually paid the bill.
Outstanding bills for Expenses are NOT EXPENSED until they are paid! This means that entering them as a bill does not make them show up on the P&L statement. They will not show up on the P&L until they are actually paid.
Outstanding bills will show up on your Balance Sheet under the Current Liabilities section.
Note: Bills should not be deleted after they are settled. There is no logic in the program to check for and reset the original bill if you delete the payment, and no logic to reset the payment if you delete the original bill which created it. We have made audits for some things, this is not one of them. Once Marked Paid a bill is considered paid and will not come up again even if the transaction that paid it is deleted! So if you delete one of the transactions you should delete both and start over with them.
