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Invoice and Payment Posting

Wikis > Invoice and Payment Posting

Posting of invoices ensures that the transaction has been recorded in the Finance general ledger of the company. If the organisation operates on a cash basis or on an accrual basis, the invoices and payment can be posted at any given time. Whenever invoices are posted, accounts receivable and sales-related ledger entries are created in the system. Similarly, when payments are posted, payment-related debit and credit ledger entries are created in the system automatically. One must ensure that all invoices are posted with a date for the current year to ensure the accounts receivable are created for the correct period of the year.

Posting Invoices:

  • Navigate to the Order Management app >Sales Order tab.
  • Select the sales order whose invoice must be posted.invoice1
  • On the related tab, click on the invoice number to open the invoice record.
  • Click the “Edit” button and select the “Posted” checkbox.invoice2
  • Click the “Save” button to apply the changes. Upon saving the record, a finance general ledger entry is created for accounts receivable and sales accounts.

Posting Payments:

  • Navigate to the Order Management app > Sales Order tab.
  • Select the sales order whose payments must be posted.
  • On the related tab, click on the payment number to open the payment record.payment1
  • Click the “Edit” button and select the “Posted” checkbox.invoice2
  • Click the “Save” button to apply the changes. Upon saving the record, credit and debit entries are automatically created in the system for the posted payment.

Posting Supplier Invoices:

  • Navigate to the Order Management app > Purchase Order tab.
  • Select the purchase order whose supplier invoice must be posted.
  • On the related tab, click on the purchase/supplier invoice to open the invoice record.invoice3
  • Click the “Edit” button and select the “Posted” checkbox.invoice2
  • Click the “Save” button to apply the changes. Upon saving the record, a finance general ledger entry is created for accounts payable and asset accounts.

Posting Supplier Payments:

  • Navigate to the Order Management app > Purchase Order tab.
  • Select the purchase order whose payments must be posted.
  • On the related tab, click on the supplier payment number to open the supplier payment record.payment2
  • Click the “Edit” button and select the “Posted” checkbox.invoice2
  • Click the “Save” button to apply the changes. Upon saving the record, credit and debit entries are automatically created in the system for the posted payment.