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Paying suppliers, and purchases in your books

Record what you pay against each order, with an optional payment plan. Switch on purchases in the books and payments wait on Supplier deposits until the stock arrives.

Payments on an order

Where in the app: Inventory → Purchase orders → an order → Payments

  • Add a payment plan (optional): parts as a percentage or a fixed amount, such as 30% upfront and the balance before shipping.
  • Record a payment: a percentage or an amount, to the supplier or to anyone else (a freight forwarder, a customs broker).
  • A new payment adds it to Transactions; Already in my books links one that came in from the bank.
  • One bank payment can be split across orders.

A payment to someone else for a delivery also goes on that delivery's landed cost, at the rate you actually paid.

Purchases in the books

Where in the app: Inventory → Purchase orders → Put purchases in the books (admins)

  1. 1

    Payments go to Supplier deposits

    Paid, but not in stock yet: an asset, not an expense.

  2. 2

    Each delivery moves its landed cost into Inventory

    On the day it arrived. A cost or rate changed later posts the correction.

  3. 3

    Settle the difference

    Once everything has arrived, what's left (usually exchange rates that moved between paying and receiving) goes to exchange gains or losses. Undo reverses it.

Tip: Choose the date to start from. Orders before it stay as they were.

What you should see

What you should see

  • The order shows paid, still to pay, and a progress bar
  • "Supplier deposits for this order" shows paid in, into stock, and what's left
  • After settling, nothing is left on deposits for the order

Read next

  • Purchase orders and deliveries

    Draft an order to your supplier, send it, and record each delivery as it arrives. Fill one in from an Alibaba.com receipt, and type the cost of one, the line total or the order total.

    Read the guide

  • Landed cost and FIFO stock lots

    What a unit really cost you: the supplier's price plus its share of freight, duty, brokerage and prep. Each delivery becomes stock lots, and sales use the oldest first.

    Read the guide

  • Currencies, exchange rates and transfers between currencies

    Your books are kept in one main currency. Accounts, marketplaces and entries in other currencies are converted at each day's rate, and a transfer between currencies records what the bank really gave you.

    Read the guide