Standard accounts payable catagories9/20/2023 ![]() ![]() ![]() All the new accounts that are created here will be reflected in the respective modules. Select the type of account under which you would like to classify your new account.Įnter a description about the account for handling any future references.Ĭheck on the Add to the watchlist on my dashboard box to have the account and its related transactions in your dashboard for quick reference. To create a new account in the chart of accounts, navigate to Accountant > Chart of Accounts and select +New Account.Įnter the name of the account you would like to create for your organization. The aged accounts payable report helps you manage your businesss cash flow by showing you all unpaid bills, grouped by how many days they are past due. The accounts payable process might be carried out by an accounts payable department in a large corporation, by a small staff in a medium-sized company, or by a bookkeeper or perhaps the owner in a small business. ![]() Record Transactions For Customers/VendorsĪny extra account that you add from the other modules, i.e, adding an account in the banking module, adding an inventory account, creating a new purchase account in the inventory module, will be reflected in the chart of accounts. The accounts payable process or function is immensely important since it involves nearly all of a company's payments outside of payroll. ![]()
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