Bills and Purchases Flashcards
Pathway to enter new Bill / supplier invoice
Business > Bills to pay > New Bill
How do you change currency of a bill?
You can change this to any of the currencies supported by Xero by clicking on the drop-down option and + Add Currency.
What does the purchase overview give you?
a complete overview of your bills and purchase orders and helps you to understand and manage your cashflow
What does a BLUE bill signify ?
unpaid bills with a due date that day or a planned payment that day.
What does a GREEN bill signify?
A bill paid that day or with a future payment dated that day
Under new in the purchases tab you can create 4 things, what are they?
Bills
Repeating bills
Credit note
Purchase order.
Save a repeating bill as a draft if…?
The amount changes with each bill
Save repeating bill as approved if the bill is…?
The same every month
All bills that have been entered have a particular status, as seen on the purchases dashboard. They are either
Draft,
Awaiting Approval,
Awaiting Payment
Overdue.
How can you add an inventory item with in the purchases/bills function of Xero?
add a new inventory item directly when creating the bill from the Item column. click on item line, select new item.
Pathway to pay an awaiting bill / supplier invoice is?
Business > Purchases overview (or Bills to pay) > Awaiting Payment.
Bills that have been partially paid, i.e. have an amount outstanding, will remain where?
Awaiting payment tab
Since partial payments can be recorded directly onto an invoice or bill, the payment transaction is then likely to
match the bank statement line (and be automatically suggested as a match) during bank reconciliation
If an over payment is made to a bill / invoice Xero notice will pop up and ask you for what?
An explanation / note about why you’re over paying
The overpayment transaction on a bill will go to the?
Awaiting Payment tab. It will stay there until you refund the overpayment or use it as a credit on another bill.
