How to Record Payment of Bills

Once you have entered any outstanding bills into your MonkeyPod, you can record the payment of those bills here. This facilitates the record-keeping process by helping you document the bill and the payment transaction, and linking them together in your MonkeyPod.

How do I record payment of bills in my MonkeyPod?

After you have entered your bills, select Finance from the main menu. Under "Income & Expenses", select Pay Bills.

MonkeyPod displays a list of your outstanding bills, along with a form at the top to enter payment details. Bills are sorted by their due date and any past-due bills will have an overdue alert shown in red.

Enter Payment Information

Begin by selecting whether you're paying a particular bill from your checking account or credit card. (The Check option refers to various forms of payment from your checking account, including checks, EFT/ACH or debit card.)

Next, enter the payment information including the account from which the bill is being paid and the payment date.

If you're paying by check, you'll also need to specify whether you'll be printing checks from MonkeyPod or assigning your own check numbers. (The option to "Assign check numbers" also includes payment by EFT/ACH or debit card—select the appropriate option there.)

Select which bills you want to pay and enter the amount you will be paying

Click the checkbox at the start of a line to select the bills you are paying. For example, if you have multiple bills from a vendor that you'll be paying with the same check, you would select those bills. If you're writing a check that applies to just one of the bills, select just that one bill here.

Next, under "Amount To Pay" enter the amount you'll be paying for that bill. If a bill is only partially paid, it remains in the list of outstanding bills, but the amount owed gets updated to reflect the partial payment.

To quickly select or deselect all bills in the list, use the checkbox in the heading.

Record the payment

Once you have your payment information entered for the selected bill(s), click the Pay button at the bottom of the page to record your payment. The bill will move to the top of the list in a new "Bills Paid" area.

If paying by check, verify the check number. MonkeyPod defaults to showing the next available check number, but this can be edited. Just enter the appropriate check number and select the check mark to save it.

Repeat the process to record payment for each bill as you make your payments. Each payment transaction in your MonkeyPod will be linked back to the related bill:

How do I print checks from my MonkeyPod?

If you are printing checks directly from MonkeyPod, you'll want to choose choose Print checks from the Finance menu to select and print the checks to pay your bills. Check out How to Print Checks for details.

Frequently Asked Questions

Can I export a list of unpaid bills?

Absolutely! Use the Download Excel button at the top of the Pay Bills page. The resulting Excel file will include the vendor, reference number, bill date, due date, original amount, paid amount, remaining due, split accounts, and memos for each bill.

I always write checks to pay bills, can I set a default so I don't have to choose that option each time?

Good question! Yes, you can set your default by choosing My MonkeyPod > Organization Settings from the main menu. Select the Accounting tab and then Check writing defaults and select your preference there.

Can I also pay a bill directly when viewing it?

Yes! On the bill's page, you'll see an option to make or record a payment there.

Is it okay to skip the recording of bills, and just upload the bill as an attachment to the recorded transaction used to pay the bill?

Accounting requirements and needs will vary for each organization. If your organization does not need to record all bills on your books, then you could skip the recording of the bill and just enter the payment transaction in your MonkeyPod. Then you can upload a copy of the bill to the transaction to keep a record of it in your MonkeyPod.

Can I change the default accounts used for my checking and credit card accounts?

Sure! MonkeyPod relies on default accounts to execute a lot of basic accounting and reporting logic. Choose Finance > Automated Bookkeeping from the main menu to manage the default settings for your organization.