Last week we learned how to create a vendor advance, this week we will discuss applying vendor advances AP Bills. Once the vendor advance is keyed into Sage Intacct the next step is to enter the AP Bill itself. The AP Bill may be received immediately after the Vendor Advance is disbursed or months later.
The first step to applying the Vendor Advance to your AP Bill is to navigate to the Accounts Payable > All > Pay Bills screen. The easiest way to locate your AP Bill and Vendor Advance on this screen is to filter by Vendor ID using the Vendor range dropdown boxes. Once your vendor range is selected, be sure to click ‘Apply filter’ in order to display only the transactions for the vendor specified.
After ‘Apply filter’ is clicked we recommend scrolling down to the bottom of the Pay Bills screen in order to be sure the bill you wish to pay is displayed. If the bill isn’t being displayed simply double check your vendor range and click ‘Apply filter’ again.
If, after modifying the filter range, the bill is still not showing up, navigate back to Accounts Payable > All > Bills and confirm that the state of your bill is ‘Posted’. If the bill is in the Draft state, be sure to Edit and Post the bill so that you will then be able to apply the advance to it.
After locating the bill in question on the Pay Bills screen you should see the Vendor Advance showing up in the credit column for your bill as shown below:
To apply the credit simply enter the Vendor Advance value in the Credits to apply field on your line item. Occasion may arise where the vendor credit exceeds the value of the advance that you wish to apply. This can occur when multiple advances have been made to a company for various reasons, or if a credit has been issued on a past bill. For that reason it is useful to be able to key the credit amount in yourself.
Once you are satisfied with the credit amount being applied click ‘Pay Now’ at the top of the screen. The credit will be applied and the Pay Bills screen will update to display only the outstanding bill amount.
Navigate back to the Bills list screen located at Accounts Payable > All > Bills and locate your bill. The bill state is no longer Posted, it is now Paid or Partially Paid depending on what amount the Vendor Advance was for.
