Working With Vendor Records and Bills - Step-by-Step Transcript
Step 1
Working with vendor records and bills in SoftLedger
SoftLedger can manage all your accounts payable needs. In this walkthrough we’ll import our vendors and perform a bulk upload of bills, and then review the income statement.
Often customers will work with third party AP processing software such as Bill.com, Airbase and Cratoflow.
All of these AP activities – and more – can be performed by leveraging our APIs. Access our API documentation here.
Step 2
Vendors is a dimension that can be added and updated manually, through an XLS upload or via API.
Navigate to Admin > Dimension Upload and select the XLS file to upload. The upload can include all of the vendor profile details (e.g. contacts information, addresses, terms, EIN, 1099 tracking, etc.) and type of vendor for reporting and analysis.
To learn more about working with structures and dimensions here.
Step 3
Vendor records are stored (and can be updated) under Accounts Payable > Vendors.
Review our support site here for more information about working with vendors.
Step 4
Left-click the vendor name to drill in. Each vendor record will store everything about that vendor, its profile and every bill and financial transaction and resulting journal entries processed, with a complete audit log.
When using inventory vendor’s parts/cost of sales will also be stored here.
Step 5
Upload bills when needed under Accounts Payable > Bill Upload.
Just left-click the upload button and select the source XLS file. You can also leverage our APIs for bills uploading and processing.
You can learn more about working with bill uploads here.
Step 6
SoftLedger supports setting up bill templates, and various bill types including recurring bills.
Bills can be entered manually.
Leverage SoftLedger’s purchase orders capabilities for full cycle bill management if required.
Step 7
Bills are listed for review, reporting and analysis.
Leverage views for filtering, sorting, reporting and analysis of your bills. Views can be saved for future repeated use.
Step 8
In this view we are filtering to Vendor A bills only.
We can create and combine as many filters as needed for our views (e.g. names, values, date ranges, search terms). Saved views are reusable.
Step 9
We’ve now filtered to all Vendor A bills. We could continue to fine tune the view.
From any view we can drill down into each bill.
Step 10
We’ve now filtered to all Vendor A bills. We could continue to fine tune the view.
From any view we can drill down into each bill.
Step 11
AP Aging is available for review, updating, filtering and reporting.
View and analyze by any vendor profile item.
The data can be used for cash flow analysis and projections.
Step 12
Navigate to Reports > Financials to select an income statement report.
Step 13
SoftLedger is a real time platform.
All financial transactions (draft and posted) are immediately reflected in your financial statements and reports.
Step 14
Our Abacus Global expenses are posted into the designated income statement accounts.
Step 15
Would you like to test drive SoftLedger?
Get started! We’ll give you an initial overview and introductory guidance on how SoftLedger will meet your requirements (and how to optimize a trial period!).
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