Purchase Invoice Payment

If your entity buys on credit from a number of suppliers, you will want to keep close track of the amount owed and the due dates of the bills. If you pay the bills too early, you lose the interest that you could be earning on the cash. If you pay too late, you could lose a cash discount, or injure your credit reputation. Also, you need to know which bills are due in order to have the cash needed to pay them. Artemis Accounts has a Purchase Invoice Payment function that provides this information. The Purchase Invoice Payment function provides the summary information needed for the entry that credits Creditors and debits the various asset and expense accounts that the supplier invoices represent.