Outgoing Payment

Okay, now we do the outgoing payment of 300 for purchase of 500 because since we have returned 200 worth of goods, the outstanding balance is 300 because we must deduct this from here. The outstanding balance is 300. We’re going to make the payment for 300 now. Let me show you. See, this minus this, the outstanding balance is 300, so we make a full payment of 300 to settle the balance. Let’s do it now.

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This is the screen you need to use. Accounting, financial accounting, accounts payable, document entry, and then, outgoing payment. Post. Let me just change to Sun Company. Choose the date. Outgoing bank account, cash in bank. Put the amount, 300. Choose the vendor account here. First vendor account, open items. You already have the credit memo for 200, right? So, the one that I’m going to pay, 300, so just choose this two, so this becomes zero. Simulate. Simulate.

 

Correct the marked line items. This is marked. Just double-click. See this, you see the check mark here? It’s a required entry. Just copy and paste. Simulate again.

 

 

Simulate in general ledger. 300 and, 300. Leave list. Yes.

There are two things here. When you simulate, this is only the entry view. Do you see 300, vendor? The payment is made from the bank to the vendor account. So if I go to simulate in general ledger, it’s a general ledger view. You can see the AP recon account.

Let me go back. This entry view. Now, let us post this. Posted. Then we go to vendor line items. See, it’s the first vendor. See this, I’ve made a payment of 300, so there’s no balance. In this original invoice, I have a credit memo of 200, so the balance is 300, and I made a payment of 300. All become zero, and this is turned to green.

 

 

Okay, let’s go to the next topic.

 

You may watch the full course on the following YouTube link

https://www.youtube.com/watch?v=ugCPXT_TIL8&list=PLN17Nn94liux88cwVwqbiRQQo1qK4sOdQ&index=21&pp=iAQB