Introduction to Debitors and Creditors

This is an overview of debtors and creditors on Simplebks. In the realm of finance and accounting, debtors and creditors are vital components that require careful attention to maintain healthy cash flow and financial stability. On the left navigation menu, click on Debitors and Creditors Page.> Click on each Customer's Name to view entity details.

Overview of the Transaction Page

1. Outstanding Payables: This feature provides a detailed list of these unpaid bills, allowing businesses to track and manage their outstanding liabilities.

2. Outstanding Receivables: These are unpaid amounts owed to a company by its customers or clients. This feature provides a detailed list of these unpaid invoices, enabling businesses to track and manage their outstanding assets.

3. Past Due Receivables: These are unpaid invoices or amounts that are not settled by customers or clients within the specified payment terms. This feature provides a detailed list of these outstanding invoices that have exceeded their due dates.

4. Customer Name: This shows the name of your Debtor or Creditor.

5. Total Amount: Total debts owned by a customer or client

6. Outstanding balance: Total amount that remains unpaid or unsettled for a specific account, invoice, or financial transaction

7. Actions: Click on action > Record Debt Payment