Create payments for statements

Overview

The payment process in Payables helps you track payments to remittance vendors. After you reconcile statements, you can create payments for statements individually or pay statements in bulk. After you make a payment, use the payment record to reconcile your bank statements and to manage your business's overall spending.

Create a payment for a statement

1. Go to the navigation bar and click Accounting.

2. In the side menu, click Statements.

3. Click the Reconciled tab if it's not already selected.

4. Click the statement you want to pay.        

   Tip: Use the filters to quickly find a statement.

   The statement record opens.    

5. Click Pay Statement.          The Create Payment Record screen opens.    

6. In step 1, select the Pay through your accounting software payment method to create a payment record in ServiceTitan and update the payment status of the statement to Paid.        

   Note: Select Mark this payment as Print Check if you want to print a check from your accounting software to make a payment.

      

7. In step 2, add details for your payment:        

   1. Payment name: Name of the payment record.

   2. Payment Date: The date of the payment record. Today's date is automatically entered if you select the Pay through ServiceTitan option.                

      Note: Enter the Payment Date if you used your accounting system to process the payment.

   3. Bank Account: The bank account from which you remit your payment. The payment record journal entry will include a credit entry against this account. 

8. In step 3, add a discount or credit:        

   1. Term Disc. to Apply: The discount you want to apply to each bill in the statement.

   2. Credit to Apply: The amount of credit from the credit record you want to apply to the payment.

9. Note: The Suggested Term Discount is calculated from the payment term attached to the statement.

   Note: Click the bill number or credit number in the Document Number column to view its details.

10. When you're done, review payment details, and click Create Payment Record. 

Want to learn more?

See other articles in Payables.