Payment Due Tracking

Payment Due Tracking

Payment due tracking helps you monitor when supplier payments are due, identify overdue payments, and manage your accounts payable effectively. EquiBillBook provides various tools and reports to track payment due dates and ensure timely payments to suppliers.

What is Payment Due Tracking?

Payment due tracking is the process of monitoring purchase bills and their payment due dates to ensure payments are made on time. It helps you avoid late payment penalties, maintain good supplier relationships, and manage cash flow effectively.

Understanding Payment Terms and Due Dates

Payment due dates are typically calculated based on:

• Payment Terms: Terms agreed with suppliers (e.g., Net 30, Net 15, Due on Receipt)
• Purchase Bill Date: The date when the purchase bill was created
• Due Date Calculation: Bill date + Payment terms = Due date

Common payment terms:

• Due on Receipt: Payment due immediately
• Net 15: Payment due within 15 days
• Net 30: Payment due within 30 days
• Net 45/60/90: Payment due within specified days

Viewing Payment Due Information

Method 1: Purchase Bills List

To view payment due information:

1. Navigate to Purchase → Purchase Bills
2. The list shows purchase bills with payment status
3. View columns for Due Date, Payment Status, and Outstanding Amount
4. Sort or filter by due date or payment status

Method 2: Supplier Details

View due payments for a specific supplier:

1. Go to Suppliers → Suppliers
2. Select a supplier
3. View outstanding bills and their due dates
4. Check payment status and amounts due

Method 3: Payables Reports

Use reports for comprehensive due tracking:

• Navigate to Reports → Payables Reports
• Select reports like "Aging Analysis" or "Outstanding Payables"
• View bills grouped by due date ranges
• See overdue, due soon, and future due payments

Payment Status Indicators

EquiBillBook uses different statuses to indicate payment due status:

• Paid: Payment completed, no amount due
• Partially Paid: Partial payment made, balance due
• Due: Payment due but not yet overdue
• Due Soon: Payment due within a short time (e.g., within 7 days)
• Overdue: Payment past the due date

Outstanding Payables Report

The Outstanding Payables report provides comprehensive due tracking:

• Access: Reports → Payables Reports → Outstanding Payables
• Shows: All unpaid and partially paid purchase bills
• Displays: Bill date, due date, amount, outstanding amount, days overdue
• Filters: By supplier, date range, payment status, branch

Aging Analysis Report

Aging analysis categorizes payables by age:

• Current: Not yet due
• 0-30 days: Due within 30 days or overdue up to 30 days
• 31-60 days: Overdue 31-60 days
• 61-90 days: Overdue 61-90 days
• 90+ days: Overdue more than 90 days

This helps prioritize payments and identify long-overdue bills.

Payment Due Reminders

Set up reminders for due payments:

• Configure reminder settings in system preferences
• Set reminder periods (e.g., 7 days before due, on due date, after overdue)
• Receive notifications for upcoming due payments
• Use reminders to plan payment schedules

Filtering and Sorting Due Payments

Filter and sort to focus on specific payments:

• Filter by Status: Show only overdue, due, or partially paid
• Filter by Date Range: View payments due in specific periods
• Filter by Supplier: Focus on specific suppliers
• Sort by Due Date: See earliest due dates first
• Sort by Amount: Prioritize larger payments

Dashboard Payment Due Overview

Many dashboards show payment due summaries:

• Total outstanding payables
• Overdue payments count and amount
• Payments due this week/month
• Quick access to due payment lists

Best Practices for Payment Due Tracking

• Review due payments regularly (daily or weekly)
• Prioritize overdue payments for immediate attention
• Plan payment schedules based on due dates and cash flow
• Set up payment reminders to avoid missing due dates
• Communicate with suppliers about payment schedules if needed
• Review aging analysis regularly to identify trends
• Take advantage of early payment discounts when possible
• Maintain a payment calendar for important due dates
• Document reasons for any delayed payments

Managing Overdue Payments

When payments become overdue:

1. Review overdue payment reports regularly
2. Prioritize payments based on amount and supplier relationship
3. Contact suppliers to communicate payment plans if needed
4. Record payments as soon as they're made
5. Update payment status to reflect current situation
6. Document any payment arrangements or agreements

Payment Planning

Use due tracking for payment planning:

• Review upcoming due payments weekly or monthly
• Align payment schedule with cash flow forecasts
• Prioritize critical suppliers or large amounts
• Plan for peak payment periods
• Consider early payment discounts

Exporting Due Payment Reports

Export reports for further analysis:

• Export to Excel for custom analysis
• Create PDF reports for management review
• Share reports with finance team
• Use for payment planning and budgeting

Payment Due Tracking Workflow

Recommended workflow:

1. Daily/Weekly: Review due payments dashboard
2. Weekly: Run outstanding payables report
3. Weekly: Review aging analysis
4. As Needed: Filter and focus on specific suppliers or date ranges
5. Before Payment: Verify due dates and amounts
6. After Payment: Verify status updates correctly

Related Articles

Learn more about:

• Recording Supplier Payments
• Supplier Payment Reports
• Payment Reconciliation
• Partial Payments to Suppliers

Effective payment due tracking helps you maintain good supplier relationships, avoid late payment penalties, and manage your accounts payable efficiently. EquiBillBook provides comprehensive tools to track payment due dates and manage your payment schedule.