Payments
Payments is where you record money received from customers and money paid to suppliers, and match each amount to the bills it settles.
Why and when you use it
An invoice shows what a customer owes; it only becomes paid when you record the money. Payments does this for both sides: receipts from customers and payments to suppliers. Matching the money to specific bills keeps the Balance on each invoice right, so Receivables, reminders and your cash position are correct. The accountant or cashier uses it every day.
Before you start
- Customer or supplier already added
- The invoice or purchase bill already saved
- Your bank accounts set up if you take money by bank
Step by step
- Open PaymentsOpen 🏢 Stockivio ERP and choose Payments. The list shows Payment No, Date, Type, Party, Amount and Mode.
- Start a new entryPress Record Payment. Choose Receipt (from Customer) for money coming in, or Payment (to Supplier) for money going out.
- Pick the party and amountChoose the customer or supplier and enter the amount received or paid, the date and the mode (for example cash, UPI, bank transfer, card or cheque).
- Match it to billsThe party's open bills appear. Enter how much goes to each, or press Fill oldest bills first to settle the oldest bills first.
- SavePress Save Payment. The invoices or bills now show the amount as Paid and a lower Balance.
- Find and filterUse the Receipt, Payment and Refund filters to see each type, and Refresh to reload.
- Correct a mistakeOpen the payment and change details with Save Changes where allowed. If the payment was wrong, reverse it with Confirm Reversal and record it again correctly.
Worked example
Gupta Kirana Store owes Sharma Traders ₹62,300 on three invoices: ₹18,000 (2 Oct 2026), ₹21,800 (16 Oct 2026) and ₹22,500 (30 Oct 2026). On 12 Nov 2026 salesman Imran collects ₹40,000 by UPI.
- Press Record Payment and choose Receipt (from Customer).
- Customer: Gupta Kirana Store; Amount ₹40,000; Mode UPI; Date 12 Nov 2026.
- Press Fill oldest bills first: ₹18,000 and ₹21,800 are fully settled and ₹200 goes to the 30 Oct invoice.
- Press Save Payment.
Result: The first two invoices show Balance ₹0, the third shows ₹22,300 still due, and Receivables shows Gupta Kirana Store at ₹22,300.
💡 Tips
- Record payments the same day; reminders and Receivables depend on it.
- Put the UPI or cheque reference in the payment so bank reconciliation is easy.
- If a customer pays before an invoice exists, use Advance Payments instead.
⚠️ Common mistakes
- Recording a receipt without matching it to bills. The money is in, but invoices still look unpaid. Match it or use Fill oldest bills first.
- Choosing the wrong type. A supplier payment recorded as a receipt doubles the error; reverse it with Confirm Reversal.
- Taking cash but selecting a bank account. Bank Reconciliation will show an extra unmatched entry.
Questions
Can one payment cover many invoices?
Yes. Split the amount across bills, or press Fill oldest bills first.
Where do refunds go?
Money paid back to a customer is recorded in Refunds and appears here under the Refund filter.
🎬 Video walkthrough (script — recording coming soon)
- Scene 1: Open Payments and show the list.
- Scene 2: Record Payment, choose Receipt (from Customer).
- Scene 3: Pick Gupta Kirana Store, ₹40,000, UPI.
- Scene 4: Press Fill oldest bills first.
- Scene 5: Save Payment and open the invoices to show Balance.
- Scene 6: Show a supplier payment the same way.
- Scene 7: Show Confirm Reversal for a mistake.