How to record Bills Entries

Overview:

Recording Bill Entries is essential for tracking your company’s payables to suppliers or vendors. In QNE AI Cloud Accounting, the Bill Entries module under Accounts Payable allows users to record expenses that are not directly linked to purchases of inventory (e.g., utilities, services, rentals, etc.). This ensures accurate financial reporting and expense management.

Scenario:

You received a utility bill (e.g., electricity or internet) from your service provider and need to record it in QNE AI Cloud Accounting as a payable item to be settled at a later date. The expense is not related to inventory purchases but must be reflected in the company’s books.

Solution:

1. Go to Account Payable > Bills

• Navigate and select Account Payable, then click on Bills. This is where all Bill Entries transactions are managed.
  
  

2. Open the Bills Module

• Once inside the Bills module, you’ll see a list of all previous Bill Entries transactions. Click the Add button to begin creating a new Bill entry.
  

3. Fill in the Bills Form

• Supplier Field: Select the name of the supplier recording the bill. QNE will automatically fill in default values such as Purchaser and Term.

• Reference No.: (Optional) Enter a reference number, such as the invoice number of the supplier.

• Tax Inclusive: Tick the Tax Inclusive checkbox if the entered amount already includes taxes.

• GL Accounts Selection: In the details section, click on the blank field under the GL Account column to display the list of available accounts. From there, select the appropriate GL account to be debited.

• Amount: Input the total value of the Bills.

• Once all details are correctly encoded, click Save.
   

4. Preview the Bill Voucher.

• After saving, click the Preview button to view the Bills Voucher Form. This can be printed or exported as needed for documentation and audit.
  
  

Application:

The Bill Entries module helps your organization manage operational expenses and track outstanding payables efficiently. By properly recording each bill:

• You ensure accurate expense reporting in the GL.

• You maintain up-to-date accounts payable records.

• You streamline payment scheduling and audit trails.

This feature is especially useful for non-inventory-related payables, ensuring your financial statements reflect real-time obligations and expenses.