Bills in CustomBooks™

Bills in CustomBooks™

A Bill is a document used to record the receipt of goods or services and the associated liability to the vendor providing them. Bills are essential for managing payables and maintaining accurate financial records.

Viewing the List of Bills

To view the list of bills in the system:
  1. Navigate to Purchases > Bills.



From the Bills List View, you can:
  • Create a new Bill or Copy an existing Bill.
  • Generate subsequent documents, such as: Bill Payment, Vendor Credits and Vendor Refund Receipts.
  • Email or Print a Bill.
  • View related details, including: Transactions, General Journal, Inventory Journal, Recurring Templates and Audit Log
  • Attach files to a selected Bill.
  • Export the Bills List to Excel, PDF, or other formats.
  • Manage columns: add, remove, or reorder.
  • Refresh the Bills List.
  • Create multiple custom views using: Filters, Sorting, Ordering, Conditional Appearance Settings.

Viewing an Individual Bill

To view a specific Bill:
  1. Navigate to Purchases > Bills.
  2. In the Bills List View, double-click the desired Bill.



From the individual Bill, you can:
  • Edit the Bill.
  • Generate subsequent documents, such as: Bill Payment, Vendor Credit Memo and Vendor Refund
  • Email or Print the Bill.
  • View related details, including: Transactions, General Journal, Inventory Journal, Recurring Templates, Audit Log
  • Attach files to the Bill.

Creating a New Bill

To create a new Bill:
  1. Navigate to Purchases > Bills.
  2. Click Create > New, or generate a Bill from a Purchase Order or Item Receipt*.
  3. Fill in the necessary details:
    Main Tab:
    • Vendor: Select from the drop-down list (default address auto-fills).
    • Bill Date: Adjust as needed.
    • Bill Number: Enter manually or let the system auto-assign.
    • Due Date: Specify when the payment is due.
    • Terms: Select applicable payment terms.
    • A/P Account: Choose the relevant account.



  4. Shipping Tab:
    • Receipt Date (optional).
    • Update the Ship To address if needed.
    • Specify the Shipping Method.



  5. Project and Class Tab:
  6. URL Tab:
    • Add a URL for reference, such as a supporting document or vendor portal.



  7. Memo Tab:
    • Add an Internal Memo for internal use only.



  8. Line Details Table:
    • Items Tab: Adding Product/Service Items to a Bill.
      Items on a bill refer to goods or services provided for which payment is still pending.

      • Click Add to include items.
      • Select the Item from the drop-down list.
      • Enter the Billed Quantity, UoM (Unit of Measure), and the Cost.
      • Customize line details like: Ship To Location, Receipt Date, Project, Class



    • Expenses Tab: Adding Expenses to a Bill.
      Expenses on a bill are line items that are not inventoried and are recorded directly to an expense account.

      • Click Add to include an Expense/GL Account.
      • Enter the GL Account code or description, Amount, Line Memo (optional), Assign to a Project or Class (optional).



    • Landed Cost Tab: Adding Landed Costs.
      The Landed Cost feature allocates costs for transporting products to your warehouse to the cost of goods sold on a Purchase Order or Item Receipt.

      • Click Add to include a Landed Cost Item.
      • Enter the Item Code, Cost, Memo, Link or associate to a Landed Cost Bill. Learn more about Landed Costs.



  9. Save changes using Save or Save and Close.

Creating a Bill from a Purchase Order or Item Receipt

If the Bill is associated with a Purchase Order or Item Receipt:
  1. Navigate to the Purchase Orders List View or Item Receipts List View.
  2. Select the relevant record.
  3. Click Create > Bill. Fields will auto-fill based on the selected Purchase Order or Item Receipt.


Under-receiving and Over-receiving (Backordering)

There may be times when your vendor will send more or less than the quantity that was ordered on the Purchase Order. The system will allow for over and under-receiving on both the item receipt and the bill, so there is no need to change the original quantity on the Purchase Order in this event.

Under-receiving is when the total quantity received on the item receipt or the bill is less than originally ordered on the Purchase Order and there is no plan to receive the balance. In this case, close the Purchase Order by clicking the Status and choosing Closed.

Over-receiving is when the total quantity received exceeds the item receipt or the bill exceeds the original amount ordered on the Purchase Order and there is no plan to return the excess to the vendor. In this case, indicate the quantity received on the Item Receipt or the Bill and the Purchase Order will close automatically.

Info
To enable Backordering: Navigate to Admin Panel > Inventory Settings > toggle the 'Allow Under-receiving and Over-shipping' checkbox.



Accounting Impact of Bills

Recording a Bill creates the following transactions in the General Journal:

Debits:
  1. Expense Account for non-inventoried items or services.
  2. Inventory Account for inventoried items.
Credits:
  1. Accounts Payable.
These entries ensure accurate tracking of expenses, inventory, and vendor liabilities.


By using the Bills feature in CustomBooks™, you can efficiently track vendor liabilities, manage payables, and maintain accurate records, streamlining your purchase and payment processes.

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