If a supplier invoices you for some supplies or services but you don't pay them right away, you need to create a bill to recognize the liability in your books. That way your accounts will show how much you really have, remembering you need to pay this supplier in the future.
- Click Purchases in the menu on the left of your screen and select Bills.
- Click Create a bill on the right.
- The Add bill screen will open up. Here is an overview of all of the fields:
- Vendor — This is who you purchased the items from. If your vendors have already been entered in the system, they will appear on the list. If they are new, click Add new vendor and fill in the information.
- Currency — You can select a different currency if the items are in a different currency than your normal business currency.
- Date — The date on the bill you received.
- Due Date - When you have to to pay the bill.
- P.O/S.O. - Purchase Order or Shipping Order.
- Bill # — The number of the bill you received. This is good to keep on file for reference.
When creating a product item, enter the pre-tax amount. If you add a tax to the line item, it will be calculated and added on top of the product amount.
- When you have all of the information, click Save. This will automatically update your accounting!
- You will be brought to the Bills page, where you will see your bill listed. Click the arrow button to the left of the bill date if you would like to View/Edit this bill, to record a Payment or to Delete it.
You're done! You have now entered your first bill.
A small but important FYI regarding deleting things in Wave:
If you delete data in Wave, you won’t be able to recover it. Because you own your financial information, if you delete it, you’re telling us you don’t want us to store it anymore. So we won’t! Anything you delete (invoices, bills, manually created or imported transactions, journal entries, and pretty much anything else you can add) is gone forever once it’s deleted. This includes your entire Wave account, should you choose to close it; you can read more about that here.
If you do delete something you realize you need back, you’ll need to enter it or create it again. You can reference information from outside Wave to help with this, like bank statements, bills, or receipts. We don’t store any of your old data or older versions of your account, so make sure you definitely want to delete something before you hit that button!