Contractor Payables Section of Soluno Userid

Q;  I have an associate who works as a contractor and is charging us an hourly rate.  I notice that Soluno has a feature allowing a payable to be created for that type of timekeeper.  What do I have to do to setup this feature properly?  Is there anything he needs to do when entering his hours on the system? 

A:  To get Soluno to create payables based on what a specific user has billed to a client, you would first need to create a Vendor for that user.  

When creating that vendor please make sure to enter an Account # and GL Account. 

Save the new Vendor contact. 

The next step is to update the user.  Click on ADMIN -> USERS -> USER TAB.  Edit the user.   

In the Payables section ensure the “Payable Creation Type” is set (Hourly Rate or Percentage of fees). 

Specify the actual hourly rate.  Enter the Vendor number of the contact that was previously created.  

The Maximum amount is optional.  

Make sure to press “Save”. 

From there, start entering time for this timekeeper.   

Once the invoice is billed and finalized a new Payable will automatically be created and can be viewed using the “Payable Listing” Report or in “Batch Pay Payables”. 

***Note that it doesn’t matter what rate they actually entered on the timesheet for the file.  The number of hours that were recorded on the file is what will be used to create the Payable.  It will take the number of hours on the invoice and multiply it by the hourly rate setting in the User setting. 

This payable was added to “Batch Pay Payables” automatically when the invoice was finalized.