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A bill is money you owe. Recording it matters even before you pay it, because it puts the cost in the right month, not whenever the cash happens to leave. “Accounts payable” is just the accounting term for the same question: what do we owe, to whom, and when is it due?

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Example

A subcontractor sends a $4,200 invoice for work finished this month. You haven’t paid it yet, but the cost belongs in this month. Equated records the bill now and links the bank payment later.

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Two ways to do it

1

Create or upload the bill

Upload a file, email it to books@in.equated.co, or enter the details by hand. The bill enters Equated with the vendor, amount, date, due date, and line details when available.
The Add document dialog for uploading or forwarding a bill

Add a bill by upload, by email, or by hand

2

Confirm it

Confirming the bill records the payable in your books.
3

Pay it

When the payment shows up in your bank feed, link that transaction to the bill. Equated marks the bill paid and records any currency difference for you.
Bill detail showing an open payable awaiting payment

An open bill, confirmed and awaiting payment

The Apply payment dialog linking a bank transaction to a bill

Link the bank transaction that paid it

4

See what's left

Equated marks the bill open, partly paid, or paid based on the linked payments.

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Wrong type?

Vendors label almost everything “Invoice”, so a receipt sometimes lands as a bill, or the reverse. Convert the document to the right type and Equated rebuilds its accounting entry. Two rules: convert before you confirm (unconfirm first if it’s already on the books), and re-link anything the old type carried, such as a linked transaction or a recorded payment.

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Why it matters

Bills keep costs in the right month, and you can see what’s coming due before the money leaves the bank.