How to Pay a Bill through Trade Loan

1. Select the purchase order which you want to make the payment through trade loan.   
 
As the first step you have to create an standalone payment. To do that, 

01. Go to Accounting module>> Vendors >> Payments 
 

02. Click the " New" button 

 

03. Next fill in the below details,
01. Payment type - Select  Send (This will be selected automatically as we are navigating through vendor>> payments) 
02. Choose the appropriate  Vendor 
03. Tick  Apply Manual Exchange - As we are paying through a foreign currency
04. Rate - This will be calculated once you fill the next two fields
05. Amount - Amount in your currency (here its NZD)
06. Destination Journal Amount - The amount your about to pay in foreign currency (Here its USD)
07. Choose the Date
08. Provide a  Memo 
09. Select the appropriate Journal - This should be Trade loan 
10. Payment method - Manual
11. Click " Apply" while ticking the check box - If you need to apply this rate for all transaction created on this date. (Here we can omit and just click only apply)
12. Click  Confirm. 



  04. Once you have created the payment, if you go to Trial balance, you can see that under Trade loan facility account in credit side
 
 
 


05. In order to recognize the final payment to the purchase order using the Trade loan facility go back again to the Purchase order and Click " Create Bill"  

 

06. Select the " Bill Date " and choose the " Bill Team ". If all other information are good, now click " Confirm "

 

07. After the " Confirmation"  click "  Approve". (Please note approval is subject to the approvers from bill team)



08. If you see the bottom of the bill you will have the stand alone payment you created earlier through Trade loan facility account. Now, Click " Add" , So the prepayment will be added to our bill.
 


and the exchange rate difference will be recognized accordingly.


09. Now in order recognize the final payment through Trade loan facility account Click on the " Register Payment "

 

10. Here, Select the 
01.  Journal - Trade Loan (ANZ)  
02. Amount & Currency - Balance amount in USD 
03. Payment Date
04. Tick Apply Manual Exchange
05. Rate - Update the Exchange rate as of payment date
06. Click the Apply
07. Click Create Payment 
 


11. Now the bill would update the tag as PAID