The term Income Bill pertains to the bills or expenses that one receives or incurs. It refers to the financial obligations that individuals or businesses have to pay. The term implies that these bills are related to the income or revenue that is generated. It encompasses various types of bills, such as utility bills, rent or mortgage payments, insurance premiums, and other expenditures that require monetary outflow.
Creating an Income Bill
- Navigate to the Finance
- Select the Income bill
- Click the Add Income bill
Basic Information
- Enter Income Note for the Income bill
- Enter Date
- Bill No is auto-generated
- Select the Payer
- Select Payee
- Select the Currency
- Enter Amount
- Select Status” Created, Credit Expense or Paid
- Select Account
- Assign to
- Upload Receipt (if applicable)
- Save the entry.