Accounts Payable Summary

Accounts Payable Summary gives one row per supplier: total billed, total paid, debit notes and outstanding, with the outstanding placed in ageing buckets from the due date. It is the quick answer to how much the company owes in total and to whom, which a bank asks alongside the receivables summary when judging working capital. The Outstanding total must equal the Creditors balance in the Trial Balance; the demo shows Market mind investment group at Rs 1,40,000, all past due, and nothing else. Because it reads the Payment Ledger, an advance paid to a supplier appears as a negative outstanding until a bill is matched to it. Review it before month end to accrue bills that have not arrived.

Per supplier: Outstanding = Sum of billed - Sum of paid - Sum of debit notes; grand total = Creditors balance

1. 01Go to Financial Reports > Accounts Payable Summary.
2. 02Set Company, Report Date and Ageing Based On Due Date; optionally Supplier Group.
3. 03Read Total Invoiced, Paid, Debit Note and Outstanding per supplier with the ageing columns.
4. 04Market mind investment group shows Rs 1,40,000 outstanding in the over due columns.
5. 05Compare the grand total with Creditors in the Trial Balance for the same date.
6. 06Open the detailed Accounts Payable report for any supplier before preparing the payment run.

Open to see total creditors and which supplier you owe most.

Market mind investment group outstanding Rs 1,40,000, all past due date.