When you receive a bill from a vendor, you first enter the bill. When you are ready to make a payment on the bill, you need to record the payment. WorkingPoint records the payment in the Payments Made section of the bill. WorkingPoint also updates the Bills List to reflect any changes to the bill status: Paid in Full or Open if you made a partial payment.
To record a payment on a bill:
Click the Bills tab to open the Bills List.
Open the bill you want to record a payment on by clicking the link for the bill in the Description column.
On the bill, click the Record Payment button.
Choose the payment method: pay from your bank account or charge to your credit card.
If paid from a bank account:
Change the date, if you need to.
Choose the method: Cash, Check, Debit, or Online/EFT
Enter the check number if you are paying by check.
Choose the bank account to record the payment to.
Enter the amount of the payment.
Click Save.
If paid by credit card:
Change the date, if you need to.
Choose the credit card account you used to make the payment.
Enter the amount of the payment.
Click Save.
WorkingPoint updates the Bills List and changes the status. If you still owe money on the bill, the Bills List shows how much you paid and the amount you still owe. If you paid in full and you want to see the bill in the Bills List, click All in the Status section of the sidebar. You'll see "Paid in Full" in green text.
WorkingPoint also records the transaction in the Accounts Payable account and in the bank or credit card account, depending on which you used to make the payment.
If you are paying a contact that you have chosen to track for 1099 reporting, the payment will be reported on the 1099 report if the payment is for $600.00 or more or the total of all payments for the year to the contact equals $600.00 or more.
How do I see a list of payments made on a bill?
How to I select a contact to be tracked for 1099 reporting?