The accounts payable report provides a list of suppliers who are owed money, the amount owed and how old the debt is. This report is a tool for prioritizing supplier payments, providing contact information, adding notes and contact tags.
Using the accounts payable report
Find the report at Suppliers > Accounts Payable or Aged Creditors, or via Reports > Accounts Payable or Aged Creditors.
The accounts payable report will automatically list all suppliers which have an account balance, and by default convert all values to base currency. Suppliers with zero or negative account balances can be included or excluded using the filters.
Click on the column headers to sort the data, for example, sort by balance to view the suppliers with the largest debt at the top of the report and help with prioritizing debt collection.
The report displays the supplier company, name, email and telephone number - everything you need to quickly work your way through a payables list. If further information is needed then it is possible to drill down into the supplier record and financial history. If payment is received then a quick link takes you directly to the supplier payment allocation screen. If notes about conversations with the supplier are needed, use the batch actions to add them to their timeline.
Foreign currency accounts payable
All supplier balances are held in base currency. This report will only show base currency values.
This report provides a complete view of all accounts payable in base currency (matching the balance sheet value) but can be filtered by currency to view only the accounts payable in a particular currency.
The conversion to base currency is made on a transaction basis using the exchange rate applied at the time of entry (as seen on the accounting journal). Since exchange rates are always changing then it is likely that any outstanding accounts payable balances will need to be adjusted for the end of year.
Revaluing accounts payable
Foreign currency accounts payable are recorded in both the foreign currency and base currency. The base currency valuation is calculated using the transaction exchange rate - the rate applicable at the time the transaction occurred, which is saved on the accounting journal. Exchange rates are always changing, so the value of those foreign currency transactions at today's rate may mean that the base currency value of those transactions has changed. For this reason accounts payable will need to be revalued, particularly at year end.
Brightpearl does not provide an automatic revaluation tool for accounts payable. An adjustment at year end will need to be made using a manual journal.