Utilize the Open Bills Template to systematically track outstanding bills that your company needs to settle. Include pertinent information such as the bill number, date, due date, vendor name, total amount, and the unpaid amount. This template ensures an organized approach to managing and settling outstanding financial obligations.

Follow the step-by-step instructions to complete the Migration Account Payable Template from your AP summary.

Transaction Details:

1)  Bill outstanding with Vendor Robert & Co for USD 825 - Accounts Payable – Supplies

2)  Bill outstanding with Vendor Antony & Associates for USD 1250 - Accounts Payable – Consumables

3)  Bill outstanding with Vendor Excellent Trading & Co for USD 950 - Accounts Payable – Supplies

Here is the Sample Migration Accounts Payable  Register updated based on the above AP Summary

Let's delve into the details of the Migration Accounts Payable Template Fields and their corresponding information:

Bill Date: This field captures the specific date on which the bill transaction took place. It reflects when the user recorded the occurrence of the financial transaction.

Bill No: The bill number serves as a unique identifier for the transaction, enabling easy reference and tracking. It is a crucial element for organizing and categorizing bills.

Supplier Name: This field indicates the name of the supplier or vendor associated with the bill transaction. It provides clarity on the entity to whom the payment is due.

Amount: The amount field records the monetary value of the bill, indicating the total amount associated with the specific line item in the transaction.

Tax: If there is any tax applicable to the bill, this field captures the associated tax amount. It contributes to the accurate representation of the total financial obligation.

Terms: Terms refer to the agreed-upon payment conditions or aging of the vendor's account. It indicates the time frame within which the payment is expected to be made.

Related to the previous Year: This field helps determine whether the bill transaction is associated with the previous year. It aids in maintaining a historical record of financial activities.

Bill outstanding with Vendor Robert & Co for USD 825 - Accounts Payable – Supplies

Here is the Sample Account Payable Bank Register updated based on the above AP Summary

Bill outstanding with Vendor Antony & Associates for USD 1250 - Accounts Payable – Consumables

Here is the Sample Account Payable Bank Register updated based on the above AP Summary

Bill outstanding with Vendor Excellent Trading & Co for USD 950 - Accounts Payable – Supplies

Here is the Sample Account Payable Bank Register updated based on the above AP Summary

If you encounter any challenges, feel free to reach out to us at migration-support@saasant.com.