Introduction/Purpose: 

Payable Others is a category or account that is used to record and track miscellaneous payables that do not fit into any of the specified categories. 

Dependency:

• Expense classification: Correct expense classification and categorization are critical dependencies for “Payable Others.”

• Integration with accounts: Payable Others should be integrated with the Financial Accounting system’s accounts payable function, and other financial accounts should be integrated as well. 

How To Navigate To Payable Other: 

The navigation includes the following steps for viewing the payable other in the Financial Accounting system.

• Click on the transactions tab: The transactions can be accessed by clicking on the transactions tab on the side menu.

• Click on the payable other: The payable other can be accessed by clicking it from the payable section.

Listing:

A payable others listing in a Financial Accounting system is a feature that provides a list of all payable others.

• Users can view the following information in the payable others listing
  • Voucher and date 
  • Inv/ref and customer 
  • General ledger and currency 
  • Exchange rate and taxable 
  • Net amount and net amount (lc)
  • Attachment, payment, and status 

User can perform the following actions 

• Add new: The “Add new” function allows you to create and add new payable others or entries to the system.

• Show all listing: The “Show all listing” function is to display and update a list or collection of payable others within the system.

• Clear cache: The “Clear cache” function clears the cached data associated with the payable other.

• More options: The “More options” function provides the user with more actions or functionalities.

• Print records: The “Print records” feature allows users to print content by opening a print dialogue or displaying a preview of the content to be printed.

• Search & Quick search: The “Quick search” refers to the option that allows for detailed searches based on multiple parameters such as vendor name and date range, while the ” Search” option allows for short searches based on keywords or selective terms.

Recording & Update:

Add New Payable Other: 

• Choose an option: The “Choose an option CoA” refers to the option where the user must select the chart of accounts with which this specific payable is related.

• Supplier/Vendor: “Select a vendor/supplier” refers to the option that allows users to choose the vendor or supplier who is engaged in the payment transaction.

• Account type: The “Account type” refers to a field that is linked with the payable transaction, such as accounts payable or a specific category inside “Payable Others.”

• Select a Vendor/Supplier: “Select a vendor/supplier” refers to the option that allows users to choose the vendor or supplier who is engaged in the payment transaction.

• Currency: The “Currency” refers to the type of money used in the transaction.

• Exchange rate & date:  The “Exchange rate” refers to the exchange rate applied to convert the transaction amount from one currency to another, while the “exchange date” refers to the day that the currency exchange rate was determined.

• Prefix voucher number & date: The “Prefix voucher number & date” refers to the reference number allocated to the payment transaction, and the voucher date associated with the transaction 

• Billing address: The “Billing address” refers to the address to which the invoice or billing statement for the payable transaction is mailed/sent.

• Order No. & date: The “Order no & date” refers to a payment transaction that is related to a purchase order, the order number and date represent the purchase order’s data.

• Ref date & no & receipt date: The “Reference date, number, and date” refers to the file linked with the payment transaction as well as the date when the transaction’s receipt was issued.

• Shipping & RCM: “Shipping” refers to the transportation or delivery information associated with the payment transaction, whereas Reverse Charge Mechanism) refers to a specific tax arrangement in which the recipient is responsible for paying the taxes rather than the provider.

• Input tax credit & term: The “Input tax credit” refers to the credit received for taxes paid on purchases that can be used for future tax liability, and the terms agreed upon for the payable transaction are represented by terms.

• Due date: The “Due date” refers to which payment for the due transaction is expected to be made.

• Deal master, Profit centre, Cost centre, Quantity, Unit rate, Amount, Tax calculation, Tax group & so on: These terms refer to various details and attributes related to the receivable transaction, such as a transaction description, deal master information, allocation to profit centres or cost centres, quantity, unit rate, amount, tax calculation method, tax group, and other relevant information.

• Attachment, Narration, Tax breakup & Payment summary: These elements provide additional details and supporting information for the receivable transaction, such as attachments of relevant documents, narrations or comments, a tax breakup that shows tax components, and a payment-related information summary.

Users can perform the following actions 

• Submit: The “Submit” function allows the user to submit the required information while creating a new payable other.

• Discard: The “Discard” function allows the user to cancel the submission of information provided at the time of creating a new payable other.