How to record vendor expense?

Mygate offers a feature that allows the society to record vendor payments efficiently. This feature allows admins to log payment details, monitor expenses, and maintain a transparent record of all financial transactions with vendors, ensuring accurate financial management and reporting.

Please follow the steps below to record Vendor payment.

A. Society can create a Book expense to record vendor payments.

1. Go to Accounts and select Vendor Bills and Payments under Purchasing.

2. Click on Book Vendor Bill.

3. Fill in all the required details and select the Bill Type (Expense / Asset / Inventory).

4. Click Submit to save the entry.
   

B. Society can create a General Payment to record Petty Expenses.

1. Go to Accounts and select General Payments under Purchasing.

2. Fill in all the required details and click on Save to record the entry.