The accounts payable module handles the bills and payments for the company. Bills can be entered using the Enter Bills form and then they can be paid by using the Pay Bills form. Accounts Payable tracks the expenses incurred during the daily business activities.

Default Accounts (Any of these accounts can be chosen from the chart of accounts list by typing in the number, pressing F2 or by clicking on the button in front of each account field.)

Cash (Required)
Enter the account number of the cash account to be used in the accounts payable module. This bank account will be the default bank account for the Pay Bills screen. You will be able to change to another bank account at the time you pay bills if you need to pay them out of another account.

Accounts Payable (Required)
Enter the accounts payable account number.

Discounts Taken (Required if vendors give you discounts for early payment)
Enter the account number to post discounts that you receive from vendors for paying their invoices early.

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See also

General Ledger | Accounts Payable | Accounts Receivable | Check Printing | Reporting | Miscellaneous | Rev Dist / JIB Posting | AFE Management | Land Management | House Gas