Settle invoices and bills from a bank payment

When a customer pays an invoice by wire or ACH, LedgerIt now matches the deposit to the invoice and lets you settle it in one click. The invoice is paid, the receivable goes to zero, and the sale is counted once, not once when you issued it and again when the cash landed.

Settle a payment from the bank

When a bank line names an open invoice or bill, the Inbox shows an item such as "Pays INV-0001 from Initech" with a Settle button. LedgerIt matches on the invoice number in the description, however the bank wrote it (INV-0042, inv 0042 or INV0042), or on a customer whose one open invoice is for exactly that amount. It never settles anything on its own, and a line in a foreign currency is never proposed.

Settle files the line under Accounts receivable, or Accounts payable for money out, and pays the invoice or bill. A payment that covers several invoices from one customer pays all of them, and what they do not take stays as that customer's unapplied cash. Bills paid from the bank work the same way.

On a transaction, an Open invoices it may pay section lists the candidates when more than one fits, so you pick. To undo a settlement, send the line back to review or file it somewhere else: the invoice is owed again. See transactions for the steps.

Bills that come every quarter or every year

The close used to expect a bill only from a vendor that had billed in each of the last three months, so a quarterly insurance premium or a yearly audit fee was never missed until after the close. Close now learns each vendor's rhythm from its bills: every month, every 3 months or every 12 months. It asks about a bill in the month it is due, and the row carries an Every quarter or Every year badge.

A vendor's page on Counterparties has a new Next bill stat, for example $4,500.00, every quarter, due Dec 28, 2026. A vendor that sends bills is now read by its bills, so paying last month's bill no longer makes this month look billed. Bills missing at month end can be accrued from the same screen.

Name a new payroll department once

When Gusto, Rippling or Deel files people under a team your books do not have, such as Platform, the Inbox asks once: "Platform, Gusto files 4 people under it". The department it belongs under is already picked, and Add team adds it. Not a team in the row menu dismisses it for good. A team your books already have also decides where its people's wages post, so the account and the department agree.

Fixes and improvements

• On Close, Bills not in yet now shows Accrue all with the total on the button, and the estimate on each row can be changed in place before you accrue.
• Each card spend row in the Inbox that needs a receipt has an upload icon, and you can drop a file on the row. Whose card it is now reads on the same line.
• A payroll department called "Accounting" is no longer read as account management.