Pay a Supplier and Clear the Payable

The buying chain ends when you pay. A supplier payment settles one or more open payables — purchase invoices that have been posted but not yet paid. You choose the cash or bank account the money comes from, decide how much of the payment goes against each open invoice, and post it. The ledger entry reduces what you owe and reduces your cash.

Who / when: the accounts payable clerk records supplier payments as bills fall due, settling the open invoices a supplier has against you. We will follow the AP clerk, paying down a supplier’s outstanding invoices.

1. AP clerk — open Procurement → Supplier Payments and press “Record Payment”. This is the list of payments made, each showing the supplier, amount and the invoices it covered.
2. AP clerk — pick the Supplier. Veona loads their Open Payables — every posted invoice with a balance still outstanding, each showing its due date and outstanding amount.
3. AP clerk — choose the Paid From (Cash/Bank) account the money leaves (an asset account — your bank or cash account), set the Payment Date and an optional Reference (the cheque or transfer number).
4. AP clerk — allocate the payment across the open invoices: type an amount against each invoice you are settling, or press “Full” on a row to pay it off entirely. The running total updates as you allocate.
5. AP clerk — press “Pay”. Veona posts Dr Accounts Payable / Cr Cash-Bank: the payable is reduced by what you allocated, and the cash/bank account falls by the same amount. Each invoice’s outstanding balance drops, and a fully-paid invoice is marked Paid.

Foreign-currency payments and realized FX

If you are settling an invoice that was booked in a foreign currency, the rate may have moved since the bill was posted. When the payment’s currency differs from your base currency, Veona shows an Exchange Rate field, seeded from the invoice’s booked rate; enter the actual rate at the payment date. If that rate differs from the rate the invoice was booked at, you will have paid more or less in base-currency terms than the debt was carried at — and Veona books the difference as a realized FX gain or loss:

• Pay more base currency than the booked debt → a realized exchange loss (a debit to Exchange Gain/Loss).
• Pay less base currency than the booked debt → a realized exchange gain (a credit to Exchange Gain/Loss).

The payment still clears Accounts Payable at the invoice’s booked value; the FX entry absorbs the rate movement, so your books stay balanced and the gain or loss is recognised in the period you paid.

Caution

A single payment can settle invoices in one currency only. If you allocate across invoices in different currencies Veona blocks the payment and asks you to do one currency at a time — so a payment is never an implicit mix of rates.

Note

Like the invoice post, the payment’s GL entry is best-effort: clearing AP and crediting cash needs those accounts mapped, and a foreign payment that produces a realized FX amount needs the Exchange Gain/Loss account mapped too. If it is not, the posting is skipped (the payment still records). Map the accounts in Finance Settings first — see the Finance & Accounting journey.

What happens next

With the payable cleared, the buying chain is complete for that purchase: requisitioned, sourced, ordered, received, matched, invoiced and paid. Two exception flows can still touch a closed purchase — applying a landed cost to value the stock at its true delivered cost, or returning goods to the supplier with a debit note. Both are covered in Apply Landed Costs and Process a Goods Return. The payable balances and the cash impact appear in the wider ledger — see the Finance & Accounting journey.

Follow the trail

• Previous: Three-Way Match and Post a Purchase Invoice
• Next: Apply Landed Costs and Process a Goods Return
• Related: Run an RFQ and Award the Winner