Sevo Biz App
Sign inStart free trial
Help centre · Finance

Supplier invoices and payments

Enter a supplier's bill against the goods you received, post it, pay it in full or in part, and void a payment that bounced.

Who can do this: Viewing needs the View accounts permission (Tenant admin, Store manager and Accountant roles by default). Making changes needs Manage accounts (Tenant admin by default).

Why match bills to receipts

When goods arrive, the receipt already puts their value into stock and into Goods received not invoiced. When the bill comes, you tick the receipt lines it charges for. This is called matching: the order, the receipt and the bill agree. Any price difference shows as Purchase price variance, so you can see when a supplier charged more than expected.

Finance → Payables shows Open payables (base), Overdue, and Suppliers with open invoices, then the invoice list with Supplier ref., Due, Total, Open and Status (Draft, Posted, Partially paid, Paid, Cancelled). Filter by supplier and status.

Enter a supplier invoice

  1. Open Finance → Payables and click New invoice.
  2. Choose the Supplier. Enter the Supplier invoice no. and Invoice date. Leave Due date empty to use the supplier's payment terms.
  3. If the supplier bills in a foreign currency, check the Exchange rate to your base currency.
  4. Under Goods received, not yet invoiced, tick the receipt lines this bill covers. Change Qty or Unit price if the bill differs, and pick the VAT rate (0% or 18%).
  5. Under Other charges (freight, services, …), click Add charge for costs that are not stock, choose the Account, and enter the amount and VAT.
  6. Check Net, VAT and Total, then click Save draft.

Post the invoice

  1. Open the draft from the list. Use Edit draft to change it, or Cancel draft to discard it and free its receipts.
  2. Click Post invoice and confirm. It gets an SI- number and the amount owed is booked.
  3. After posting the invoice cannot be edited. Its Journal entry link shows the accounting.

Record a payment

  1. Click Record payment on the Payables screen, on Finance → Payments, or on a posted invoice.
  2. Choose the Supplier, the Payment date and Paid from (a cash or bank account).
  3. Enter the Amount in the supplier's currency. For a foreign-currency supplier, enter the Exchange rate on the payment day.
  4. Add the cheque or transfer number as Reference.
  5. Under Apply to invoices, keep Oldest due first, or choose Open invoices and type how much goes to each bill. Any amount not applied stays on account for the supplier.
  6. Click Record payment. It gets a PAY- number.

If the rate on the payment day differs from the rate on the bill, the difference is booked to FX gain/loss for you.

Void a payment

Finance → Payments lists every supplier payment with the account it was paid from, the invoices it settled and its Reference. For a bounced cheque or a mistake, click Void and confirm. The journal entry is reversed and the invoices become open again.

More in this area