Making a Bill, how to add a downpayment

KARANPT

So I have to enter a bill for a vendor. I want to know how to add a down payment a part payment done at the time of the bill. Also there is an interest to be paid for the remaining amount. (that is after the downpayment) How to add all this in the same bill?

Barsin

Hey there @KARANPT

Unfortunately our bills section is not as intuitive as it seems like you might be hoping for. You definitely have the ability of creating a down payment for a bill if you wish! There are two ways to do this. Either head to Bills > Select the bill > Record a payment > And here you can select only a partial amount for that payment which will create a partial payment transaction in your transactions page.

Second you could wait for the partial payment expense transaction to appear in your transactions page and categorize it to your payments in Wave then select the appropriate bill. This will leave a balance still available on the bill.

Lastly interest is something that Wave doesn't have the automated ability to create but you could manually change this on the bill or create a new line item on the bill for interest gained if you wish!