Suppliers > Spending money

Money spent in any way by a business is a payment. Before one can be recorded, at least one cash account must be established.

Basic payments

Once at least one cash account exists, payments are recorded in the Cash Accounts tab by clicking on Spend money:

The first stage of the entry screen appears, requiring selection of the cash account from which the money will be spent. If both bank and cash on hand accounts exist, selection options will be grouped accordingly:

When a cash account is selected, the full entry screen appears:

Complete the entry:

•	Date is automatically filled with today's date, but can be edited.

•	Reference is optional. This field can be used for bank confirmation numbers, internal sequences, or other helpful information.

•	Status is set to Cleared by default

•	Payee is the person or entity to whom money is being paid.

•	Description is an optional summary of the transaction.

•	Item field can be used to enter predefined inventory or non-inventory items. If you have no predefined items, this field will not appear. Making a selection here will prefill several other fields on the line.

•	Account is the account to which the payment will be posted.

Remaining fields are self-explanatory. The completed form can be given to the Payee as a remittance or payment advice:

Payments against purchase invoices

Payments to suppliers against purchase invoices can be entered two ways:

•	As a basic payment

•	From a purchase invoice

As a basic payment

To enter a payment against a specific purchase invoice, allocate it to Accounts payable, the Supplier, and the Invoice:

Partial payments

When paying only part of the balance due on a purchase invoice, allocate the transaction exactly as above, but enter only the amount actually paid. MYBOS will apply the partial amount against the purchase invoice and show a reduced balance due. No other special steps are necessary.

Payments for multiple purchase invoices

When paying a supplier for multiple purchase invoices, leave the Invoice dropdown box blank. MYBOS will allocate the payment against the oldest purchase invoice with a balance due first, then the next oldest, etc. However, if the payment is designated for specific purchase invoices, add lines and designate amounts for those invoices individually.

From a purchase invoice

To record a payment while viewing a purchase invoice, click on Spend money:

A payment entry form will appear. After a cash account is selected, the remainder of the form will be prefilled with information to enter the full amount due on the purchase invoice. If the payment is for only part of the balance due, edit the amount paid by adjusting quantity or unit price.

Other situations

You are not restricted to using only simple expense accounts to post payments. For example, if money is paid to a business owner set up under the Capital Accounts tab, select the matching capital account and subaccount:

If a fixed asset is purchased the transaction can be allocated as below:

Employees are paid by allocating payroll amounts as follows:

Inventory and non-inventory items can also be directly purchased using payment forms.