On occasion it becomes necessary to pay an Accounts Payable bill using multiple installments over time. Thankfully Intacct makes it easy to process partial payments! Simply locate the bill you wish to pay, enter the amount to be paid and cut the check. Next time you wish to make another installment, simply repeat the process.
In order to make the first payment navigate to Accounts Payable > Tasks > Select bills to pay as shown below or use the menu to go to Accounts Payable > All > Activities > Select bills to Pay.
The Select Bills to Pay screen is filter rich, enter as many or as few search criteria as necessary to locate the bill you wish to pay. As our bill is entered for Vendor VEN-0504 we simply entered that into the vendor filter area and then clicked ‘view’.
You will want to confirm the payment method and bank selection at the top of the Pay Bills screen prior to continuing. In this example we will be paying by Check. The payment date field will be auto populated with today’s date, but feel free to change that should you wish for the payment to be dated a different date, be sure to change that here.
Once you have located the bill you will need to select it by placing a checkmark in the ‘Select’ box to the left of the line item. You will then want to enter the payment amount into the ‘Amt to pay’ field. In our case we will be paying $150 of the $500 bill. The action of tabbing out of the ‘Amt to pay’ field will update the Balance field to show the difference between the bill amount and the payment amount. In our case the outstanding balance is $350.
Once all payment amounts have been applied to the lines required click the ‘Save’ button. You will be taken back to the Select Bills to Pay filter screen in order to allow you to select more bills for payment.
Now that your bill is marked for partial payment and since we are paying this bill by check we will go into the Print Checks screen found under Accounts Payable > Activities and select our check for payment and click ‘Print’.
After the check has been successfully printed it must be marked as confirmed by clicking the ‘Confirm’ button at the top of the Print Checks screen. The act of confirming the check will record the bill payment in the General Ledger.
Now that the payment for $150 has been applied, the next time you go to the ‘Select bills to pay’ screen you will see the same bill but instead of showing the full amount due, it will show the amount outstanding of $350. When the time comes to make another payment on this bill you can now pay off the remaining balance by placing a check mark in the ‘Select’ box and clicking the ‘Pay Full’ button or do another partial payment as detailed above.
