Account payable issue
Andriy
Member Posts: 6
Hi All. Anyone had issue with account payable? When I am creating new bill and adding new item into it, I can not categorised that as account payable, simply because in the drop-down menu does not exist 
All what I can do is just to select from expense category. For previous entry no issue, account payable is there.
Same thing happening, when I am creating in Purchases->Products & Services-> add new product->buy this->ticked - in the drop-down menu NO Account Payable. HOW??? 
I have sent request to help center, apart from automated replies - NOTHING 
Please, advise how to sort this out.
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Hey @Andriy, my apologies about the lack of clarity here, and that we haven't responded directly to you via tickets yet. So, essentially, all bills marked as unpaid are already tracked in your Accounts Payable account, which is why this does not show up as an option when you are assigning an account to a product. Rather, when assigning an account to a product, you're essentially tagging it with a descriptor (travel expense, rent, promotion, etc).
Once you've created a bill with that (or any item), but leave the bill as unpaid, the value of that bill will be tracked as part of your Accounts Payable account. You can confirm this by heading over to Reports > Account Balances (or Transactions) and narrowing it down. Aged Payables will also show this information, but only for those items which are overdue in this last report case.
Once a bill is marked as paid however, Wave automatically creates a transfer in the background from Accounts Payable to whichever account you want the expense withdrawn from.
Hey @Samd, unfortunately, you did't get my point at all. I'm not having issue with travel expenses, rent, promotion, etc, this is pure expenses and is simple. Please, give me solid advise, how to deal with bills from the supplier, which is my Liabilities??? When you are buying products from the supplier for reselling, I have to categorise it in the bill as liability! not expense. That is why need account payable
Why I cannot create a bill and my goods in inventory, that is I have to select a expense account to create a purchase bill but I need to select a inventory asset account when I purchase my goods and create my bill. previously I could do that but the list shows only expenses accounts
most of my purchases are asset (Inventory) not expenses, but when I create category for bill the purchase I have to select an Expense Account not an Inventory account, that is one of the main problem using wave, previously I could select the Inventory category when I created the bill but now the Inventory list does not show in the list.
my three months bills post are pending for this problem, and don't have an update accounting, please help
@Andriy In the case that you are wanting to categorize a Bill in Wave as a liability account (accounts payable) .. it's not something that's currently possible (only expense accounts can be categorized within the bill itself). With that being said, you will need to make sure that you create an expense transaction on the transactions page itself and categorized this as the particular liability account you are looking at.
Same situation here @cetustone. Since you are unable to select an asset account when creating a bill in Wave, you will need to make sure that you create the expense transaction on the transactions page, and categorize this as the asset account you create for your inventory (the fixed asset account).
Hi,
I'm doing an accrual basis for my inventory, which means I'll need to use Accounts Payable.
I've tried both ways of either creating a new 'Bill' for my inventory, and also a 'Transactions'.
For the 'Bill', it's quite fitting to link up the PO, Bill# and with Vendors with allocation to 'Asset', and more importantly the 'Due Date'. However, every single time a bill was created, even with a later Due Date - 1) the status was classified as Paid, and not sure how we can amend that. OR 2) Can we put up the expense into 'Accounts Payable', despite I have it on the liability, it's not showing in the Expense Category.
If I use the Transactions method - it's quite confusing on the 'Account' Side, which do I'll put as 'Inventory', and in the deposit or withdrawal, I'll put Withdrawal, and Expense Category is the easy one here which is Accounts Payable. After adding the Vendor and saving the transactions - I won't be able to know the 'Due Date' of the payment (which perhaps this is not a function yet), but the display of transactions is only on 'Description' but without the Vendor's name, in the view mode.
So the questoin that I have is
1) Can the 'Bill' section be used to track 'accrual basis' inventory?
1.1) If yes, how is the status managed?
1.2) If yes, how do I show it's in the 'Accounts Payable' category.
2) If the above doesn't work, which means we have to use the Transactions
2.1) Is due date of the payment recordable, or net due payment ie. credit terms included? Yes or No is fine for now.
2.2) How do we manage the view that the payment will have our Vendors & Description which we will use as Bill No.?
Thanks