Payments Made

Payments Made

The payments you make to your Vendors in exchange for a supply can be recorded in the Payments Made module of Zoho Books. Each time a payment is made to your Vendor, you record a receipt for the payment with details such as date, payment mode and amount. This lets you track the money moving out of your organization. 

You can also view the payments made to your vendors from the Bills tab. Click the particular Bill and navigate to the Payments Made tab present near the Comments and History tab to view details of the payment alongside the Bill.  

Recording Payments

Recording the payments in Zoho Books is easy. Even if you forget how much you owe to your vendor, Zoho Books gives you the exact log of payments to be made and keeps you updated. 

Payments to vendors can be in 2 forms. It can be either a regular bill payment or an advance payment. Let’s see how you can record them both in Zoho Books.

Recording Bill Payments:

You can record the payments you make to vendors against bills. There may be cases where you might have received a Bill from your vendor and you can choose to make partial payments for the same. So each time you record a payment in Zoho Books, the amount due gets automatically adjusted. So, while Zoho Books takes care of your cash, you can take care of your business. 

To record a Bill Payment:

Payments Made

Fields Description
Vendor Name The vendor to whom the payment is made.
Amount  The amount paid.
Payment Date  The date on which the payment is recorded.
Payment Mode  The mode of money payment.
Paid Through The account from which money is paid.
Reference# Reference number for the payment, if any. 

Bill Payment

Recording Advance Payments:

Generally, payments are made to vendors after one receives the supplies. In some instances, you might make advance payments to trusted vendors in advance for the supplies that you are yet to receive.  At such situations, it is necessary that you record an Advance Payment for the same.

In the GST regime, when you record an advance payment towards a bill, it is mandatory to pay GST on the advance amount. In cases where a registered buyer pays an advance amount to an unregistered business owner, then the transaction is also applicable for reverse charge.  

So, when you receive a Bill from your vendor for the goods you made the advance payment, you can choose to either apply the advance to Bills or record a refund based on the circumstances. Let’s see how you can do these actions in Zoho Books.

To record a Vendor Advance:

Vendor Advance

Fields Description
Vendor Name The vendor to whom the payment is made.
Source of Supply  Auto-populated from the contact details. 
Destination of Supply  Auto-populated from the contact details. 
Description of Supply  Details about the supplies to be received and amount paid.
Amount  The amount paid.
Reverse Charge  Check this option if a registered business owner receives supplies from an unregistered vendor.
Payment Date  The date on which the payment is recorded.
Payment Mode  The mode of money payment.
Paid Through The account from which money is paid.
Reference# Reference number for the payment, if any. 

Once you have recorded the vendor advance, you might receive a Bill for the same after some days from your Supplier. In that case, you can apply the credits from Vendor Advance to your Bills. To apply, 

Apply to Bills

Bill Amount

Refund Vouchers

In some cases, the advance payment made to the vendors may be refunded to us due to cancellation of delivery of goods, low stock availability. In such cases, it is mandatory to record a Refund Voucher against the Advance Payment.  The Refund Voucher and Vendor Advance appear on the GSTR-2. To record it in Zoho Books:

Refund

Refund Details

Refund Voucher

Other Actions

The other actions that you can do in this module of Zoho Books are as follows. You will be able to find the other actions section at the top of every transaction, and in case of the Refund Voucher, you will be able to find them adjacent to the Refund Vouchers in the refund history section. 

Edit - Click the Pencil icon to edit a payment. 

Attach file- Click the Paperclip icon to attach any documents to the receipts. 

Print - Print a copy of the payment receipt by clicking the Print icon.

PDF - Download and save a copy of the payment receipt simply clicking the PDF icon. 

Custom Views

Custom Views are specific views to list your payments, based on your criteria. For example, you might want to view just the advance payments or any payment on a selected date. With Custom Views, you can simply create this filter, set criteria and use it to classify data.

To create one, 

Custom View

Edit View

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