Creating a bill

Create a Bill

Watch this video on how to create a bill or read on below:

Go to the Bills section on the left side menu, then click on the '+' button in the top right corner to start creating a bill.

1. Indicate the Bill Number.
2. Choose the Currency in which you've received the invoice.
3. Choose the Contact corresponding to the supplier from your contact list, or create the contact directly in the billing form.
4. (Optional) Assign the bill to its specific Project. This allows you to track the profitability of your various projects.
5. Set the Date on which the bill is created and then its Due Date.
6. In the Bill Line Item:
   • (Optional) Choose the Item for which you are billing, or create it directly.
   • Write a short Description indicating the details of the item you're buying.
   • Choose the Account where you'd want the expense to be categorized, this is usually your Operating Expenses.
   • Indicate the Quantity of the item bought and its Price
   • (Optional) Add a VAT Rate and a Discount if it applies in your case.
7. (Optional) In Notes, you can include details on how you would like to make the payment. Wafeq will automatically re-use this field the next time you create a bill.
8. Click Save for Wafeq to automatically change the status of your bill to authorized and create an expense in the P&L report, and an increase in the accounts payable in the balance sheet. 

Important: Only when recording the bill payment that a cash event in the cash flow statement and a reduction in the accounts payables in the balance sheet will occur. 

Note: You can import your bills using the import feature.