Every financial transaction in BMP360 is linked to a specific Payment Source. Recording payments correctly keeps your accounts balanced and your invoice statuses up to date.
Recording a Customer Payment
- Open the invoice you have received payment for.
- Click Record Payment.
- Select the Payment Source (bank account or cash drawer) where the payment was received.
- Enter the amount received and the payment date.
- Click Confirm.
If the payment amount equals the invoice total, the invoice status changes to Paid automatically. Partial payments change the status to Partially Paid.
Understanding Payment Sources
Payment Sources are your company's financial accounts within BMP360. The three types are:
| Type | Description | Example |
|---|---|---|
| Cash Account | Represents a physical cash drawer or petty cash fund | Main till, petty cash |
| Bank Account | Represents a company bank account | Current account, USD account |
| Credit Account | A virtual account for tracking supplier credit lines | Supplier credit facility |
View the full transaction ledger for any payment source by navigating to Financial Accounts and selecting the account.
Recording a Supplier Payment
- Navigate to Suppliers, then select the supplier.
- Open the supplier invoice you wish to pay.
- Click Record Payment.
- Select the Payment Source from which the payment will be deducted.
- Enter the payment amount and date.
- Click Confirm Payment.
Once confirmed, the supplier invoice is locked and the payment source balance is automatically reduced.