What is Accounts Payable (AP)?
Accounts payable is the money owed by a business to its suppliers/vendors. In this section we learn how to navigate through Payables Tab.

A. Key Metrics gives you the information about the Total Purchase, Opening Balance, Average Paying Period and the three major items bought

B. Actions allow you to either edit or delete the payable which was created earlier

C. This is the auto generated number for the Accounts Payable against the Purchase Order (I)

D. The Record Type shows the entry is either Bill or Purchase Order

E. The Vendor's/Supplier's name is shown to whom the Payable is related to

F. The Status shows at what stage the transaction is in via Final, Non-Posting or Post

G. Amount shows the how much money is been paid or needs to be paid to the vendor/supplier

H. The date of transaction is recorded

I. Purchase Order Number is an auto generated number for the transaction made

To record the new Payables transaction click on New Payable button.

Select the appropriate record type from the dropdown menu and click on Continue button to open a new payable page which is either a Bill or Purchase Order

Now let us understand the line items one by one.

Information related list

A. Here you can select the Vendor from the lookup menu if you have already created an account or you need to create one before proceeding with the payable

B. The contact detail which you need to add or you need to create if you have not created and select it from the lookup list

C. In the Status field you need to select the Scheduled, if you are the maker of the payable or should select Post from the dropdown menu if you have the right to checker's privilege

Billing Shipping Information related list

All this information is auto populated when you select Vendor in the Information related list (refer A)

Other Information related list

A. Contract number is auto populated if you have selected the accounts from the information related list

B. Due date needs to be selected by you or should be as per the agreed terms with the Vendor

C. FOB means Freight On Board or Free On Board. If terms of delivery of a transaction is on FOB that means, the cost of movement of goods on board of Airlines or on board of Ship or any other mode of transport to be borne by the seller

D. Vendor message is to be saved in here

E. Terms define the agreement about the amount and the timings to repay the amount within the specific date, if not, the purchaser will charge certain percentage of interest and that is defined in the Terms. In short, the agreement between two or more parties concerning the amount and timing of payment for goods or services

F. By default the shipping date is the date of bill, you can change the Shipping Date as per your convenience

G. This is the mode to Shipment of goods, you might select by the dropdown list. May be by freight, ferry, rail, FedEx, DHL, US Mail, etc

DBSync related list

Datas can be integrated into AccountingBook through DBSync to provide easy synchronization for Accounts, Products, Opportunity Closed to Customer, Jobs, Products and Invoice, Estimate or Sales Order in AccountingBook. These integrations can be done through the different accounting packages like Intacct, Cloud Accounting, QuickBooks, etc.

The Error box shows you the errors occurred during the synchronization process.

Credit Card Information related list

A. Though this is called as the credit card information listed under the Payment Type; in the dropdown list you can see Credit Card, Cash and Check. Pick-up one of those to continue and select the card type if the customer is paying from credit card

B. Card Code in the space provided

C. Enter the month of Card Expiry in the space provided

D. Enter the Card number in the space provided

E. Enter the year of Card Expiry in the space provided

System Information related list

System Information gives you the information about who had created or last modified the payable page

Transaction Line Items and Balance and Payment

A. Pickup the product from the dropdown list

B. Usually the product description is blank and you can add as per your choice

C. Enter the quantity of item in the space provided

D. Once the product is selected, the cost is auto populated

E. Total cost is auto populated when the quantity is entered

F. By default the Tax field is non-taxable if the items are taxable you need to change it to taxable from the dropdown menu

G. On clicking on Add new row a new row is created to enter multiple products

H. Shows the total Amount and Balance Amount Payable

Click on Save button to conclude the transaction.