Updating Payment Methods

Feature

Starting with Goldenseal accounting software version 3.7, you can have your billed expenses be automatically updated with the actual payment method, when the bills are paid.

This is an optional new feature that you can set in Expense Preferences.

Suggested By

User feature request.

How to Use

To tell Goldenseal what to do with the Payment Method fields, when you pay for a billed expense, follow these steps:

1. Choose Preferences from the Options menu, and choose Expenses from the submenu.
2. Set the value of the Update Payment Method When Paid checkbox.
3. Click OK.

If you turn the option on, Goldenseal will fill in the actual payment method, when you pay for a billed expense. For example, if you pay for a billed purchase by check, Goldenseal will replace Vendor Invoice with Check, in the Payment Method field. In the Details field, it will replace the payment terms with the name of the bank account used to pay the invoice.

If you turn the option off, Goldenseal will not change the Payment Method, when you pay for a billed expense. That way you can still see the original payment terms, and you'll know that the expense was billed, instead of being paid immediately. HINT-- To see the bank transaction used to pay for an expense, choose Payment Transaction from the View menu.

Technical Details

If you do nothing, the Goldenseal accounting software program will still act the way that it did in versions 3.6 and earlier. When you pay for a billed expense, the Payment Method will not change. You only need to change the Preferences option if you want to have Goldenseal start marking expenses with the actual payment method.