In Cosmolex, you can enter office bills when they arrive and pay as they become due or when firm approves to pay. Incoming bills can be posted to proper general ledger accounts at the time of bill entry.
To Record a Bill:
Go to Accounting > Accounts Payable > Add
In the Add New Bill window:
- Bill Date: Date of when you receive the bill
- Due Date: Date of when the bill is due.
- Pay To: Put in the payee name
- Amount*: Put in the bill amount
- Ref#: Put in a ref# for the bill, if necessary.
- Memo: Put in a memo about the bill
- Account*: Choose a Chart of Account for the bill
There are three flags that can be set when recording a bill for keeping track of specifics on certain bills:
- Discount for early payments
- Hold bill payment
Finance charge for late payments
Recurring Option: Select this option if you want to make the vendor bill recurring weekly, monthly, quarterly, and yearly.
This bill will show in the pending bills section on the next billing cycle date.
Notes Tab: You can enter notes about the bill that you can view internally.
When ready, click save and you will see your bill recorded.
Placing Hold Status on a Bill:
There are times where you need to place a hold on a bill for numerous reasons. (ex. for any disputes, or prevent a bill from being paid by mistake)
To do this:
- Go to Accounting > Accounts Payable Tab > Select the Bill > Click Edit
- In the edit bill window, under options > Check off hold bill payment > Click Save.
Your bill is now on hold.
Note: Make sure to remove the hold off the bill, when ready to pay the bill. If not you will receive the message below: