Record Payments

All the payments made to a vendor for various bills will be recorded in the Payments Made module. The total bill amount can be paid at once or in various installments and every payment will be recorded individually and associated with the appropriate Bill.

For example, a retail store has created a bill for the following items:

They split the bill into three and pay the vendor. Now, all three payments will be recorded for the bill in Zakya.

Record Payments Made

Payments made to vendors can be recorded in the following ways:

• Adding manually
• Importing

Recording payments manually

In the Payments Made module, the following fields have to be filled in order to register a payment in Zakya.

• Amount: The total amount paid to the vendor for all the unpaid bills can be specified here.
• Amount used for payments: It is the amount that is paid for individual bills
  For example, say you have four unpaid bills for three purchase orders with a vendor and the total amount to be paid is Rs. 66,000.00. There might be scenarios where you would like to pay half the total amount immediately and the rest later. In that case, you can specify Rs. 33,000 in the Amount field and split them across various unpaid bills you have with a vendor.
• Amount in Excess: If the amount is greater than the amount used for payments, it will be classified as excess amount that is being paid to the vendor.
  Say you have paid a total of Rs. 70,000.00 to the vendor instead of Rs. 66,0000.00. There is an excess of Rs. 4,000.00 that will be saved as store credits for the vendor. This amount can be deducted whenever payments are made to that vendor.