How do I pay a supplier’s debt? (Business Obligations, Accounts Payable)

If your business owes a supplier (or another counterparty), Finmap will remember this information and remind you of your obligations. This requires you to make a Future Payment.

For example, you have already received the goods or service from the supplier, but you have received a week’s delay in payment. Enter the Expense in Finmap, specify the counterparty, set the transaction date as today, and in the Expense date field set the future date on which you plan to settle with the supplier.

Finmap will create a payment with a future date and prompt you at the right time to pay the debt. All you have to do is click the checkbox and make the payment at the right time.

You can see a list of all liabilities of your business in the Accounts payable report in the Analytics section.