Properly recording payments for your invoices is crucial for maintaining accurate financial records. This guide will walk you through the process of marking invoices as paid in Banqup, ensuring your purchase invoices stay up-to-date and organized.
Go to Purchase Invoices.
Select the invoice(s) to mark as paid, then click on Mark as > paid.
A modal opens where you can indicate:
Payment method
Payment reference number (optional)
Payment amount
Payment date
Additional comment
After clicking on Mark as paid, the status of the invoice(s) will change to Fully paid or Partially paid, depending on the payment amount.
Refusing or disputing a purchase invoice
If an invoice from a supplier is not correct, you can act on it directly from the invoice:
Click Refuse if you will not pay the invoice as it is. Its status becomes Refused.
Click Dispute if you have a question and want to discuss it before deciding. Its status becomes Disputed.
For either action you choose a reason and can add an optional comment. The available reasons are: Incorrect VAT rate, Non-compliant, Incorrect recipient, Unknown transaction, Unknown issuer, and Contract terminated.
Once you and your supplier have settled it, click Resolve on the invoice to move it back to its payment status (usually Unpaid), where you can pay it.
Rules and limits
Partial payments: when you mark one invoice as paid, you can enter a partial amount. The amount cannot be more than the invoice's open balance. The open balance goes down by what you enter, and the status becomes Partially paid until the full amount is recorded.
Marking several invoices at once: when you select multiple invoices and mark them as paid, the system records a full payment for each one. Every selected invoice becomes Fully paid with an open balance of 0. To record a partial amount, mark that invoice on its own.
Mark as unpaid: you can only mark an invoice as unpaid if it is currently Partially paid or Fully paid. This removes the manual payment you recorded and recalculates the open balance.
FAQ
Can I undo a "Mark as paid" action if I made a mistake?
Yes, you can reverse this action by selecting the invoice and choosing Mark as > unpaid.
Can I set up automatic payment status updates?
Yes, invoices paid directly through Banqup are automatically marked as paid. For payments made outside the platform, you'll need to manually update the status as described in this guide.