A vendor bill is an invoice received for products and services that the company purchases. There are several ways to create vendor bills. Here, you can create a new vendor bill either by entering the appropriate services and products provided by the vendor or from its unbilled time and expenses entries. You can also create a vendor bill from the Receive Items screen. Here, you can also edit the details of the existing vendor bills.
A vendor bill lists the quantity received for each line item on the purchase order. In the Vendor Bills form, you can record vendor bills for payment by entering the vendor, items and expenses.
Key Fields
Vendor ID:
ID of the vendor for whom the vendor bill is to be created. Select from a list of Vendors by clicking 
. Click the Filters. . . link to view Filters screen to restrict the data visible in the drop-down.
Bill No:
It is the unique value assigned to the newly created vendor bill. This field is auto-generated by Web Suite whenever a new vendor bill is created. It is always pre-filled with a value, one more than the previous bill number.
Reference:
A Reference number can be entered here to track the method of payment. For example, a routing number from a personal check might be typed here. The field size should not exceed 60 characters. This is a drop-down list and holds list of distinct Payment Reference.
Date:
The date on which the vendor bill is created. By default, it is the current system date.
Payment Term:
You can set the payment term for the vendor by selecting it from the drop-down list. The available options are Net 30, Net 45, Net 60 and Net 90.
Due Date:
The date when the vendor bill is sent to the vendor. By default, it is the current system date.
Accounts Payable:
The A/P account you want to use for the vendor bills in Web Suite for the selected vendor. All the payables for this vendor bill will be posted to this account. Web Suite supports multiple A/P accounts.
Paid/Balance:
You will see a paid stamp if the vendor bills are paid and a balance stamp if there is an outstanding balance on vendor bills.
Bill Memo:
Memo is recorded here to provide additional information for a specific vendor bill. You can enter text of unlimited size.
Vendor Bills Item Details (Edit Mode)
You can also view these fields in the PO grid.
Accounts Tab
The Accounts tab allows you to specify the accounts to which a vendor bill is posted. It is used when you want to directly post the vendor bill to your accounts, say Miscellaneous account for reimbursable expenses. The following are descriptions of fields on the Vendor Bills-Accounts screen:
Account:
This is the account to which the vendor bill is posted. It can be a bank, an income, an expense or any other account.
Memo:
You can enter additional information or note about the vendor bill or its account.
Amount:
This is the bill amount to be posted against the selected account.
Class:
You can select a class for the vendor bill from the drop-down list. It displays classes in the drop-downs only if they are available in the Class List screen in Web Suite or transferred from your accounting software. Classes are assigned at the item level (activity and expense) or project level but can be overwritten here.
Items Tab
Project ID:
ID of the project for which the product or service has been received. Click 
to view a list of projects. You can restrict the items to be displayed in the drop-down by clicking the Filters... link that opens up the Filters screen.
Units/Hours:
Enter the number of expense units or service hours that are received from the vendor.
Item ID:
ID of the service or expense item received from a vendor. Click to view a list of items. You can restrict the activities or expenses to be displayed in the drop-down by clicking the Filters...link that opens up the Filters screen. You can also click 
to choose to view Expense Items Only, Service Items Only or Both. Both is the default setting.
Rate:
Displays cost per unit of the product/service fetched from the Expense/Activity screen. When the vendor bill is unpaid, you can change the cost rate of the selected records.
Mark Up:
This value determines the percentage by which Web Suite increases the cost of the expense to determine the Amount. This value is brought forward from the Expense screen when an expense item is selected. If the markup percentage varies, this field is usually blank and you can enter it here while creating a vendor bill. For example, if
Rate = 10
Units = 1
MU = 10
Then, markup will be taken as 10% and Amount= $11
You can enter negative markups.
Description:
Description of the service or expense item selected. This is automatically filled based on your selection in the Item ID field.
Amount:
Displays the total amount charged for the service or product received from the vendor. It is automatically calculated based on the cost per unit/hour and the number of units/hours received.
Purchase Tax:
This is the tax paid by the company on an expense item and is subtracted from the charge amount to avoid double-taxation for the client. Web Suite uses the Purchase Tax Rate to segregate the actual cost of an expense and its tax amount (Cost Amount = Net Cost Amount + Purchase Tax Rate). For example, you can set up an expense with a purchase tax of 10%. Later, Web Suite will accordingly split the cost amount.
Cost with Purchase Tax = Amount without Purchase Tax / (1 + Purchase Tax Rate / 100)
Is Service:
It indicates whether an item received from the vendor is a service or an expense. It is checked if you select service in the Item ID field. It is unchecked if you select expense in the Item ID field.
Xtra:
Checked, will mark the service/expense provided for a specific project as extra. Billable expenses are marked extra by default.
Billable:
Selected, indicates the service/expense will be charged to a client.
Memo:
Click to type your memo for each line item of the vendor bill. Click 
to add a date/time stamp to the memo.