IOU Process User Manual
Version: 1.0.29.1
Prepared by: Issac
Date: 24/05/2025

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Table of Contents

• Introduction

• System Requirements

• Logging In

• Main Features and Functions
  4.1 Creating an IOU Payment
  4.2 Raising IOU Vendor Invoice
  4.3 Matching IOU Payment with Invoice

• Troubleshooting Common Issues

• FAQs

• Support

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1. Introduction

The IOU (I Owe You) Process in the Zealit system manages advance payments made to employees and their subsequent settlement through vendor invoices. This ensures accurate tracking of advances, proper invoice recording, and seamless account reconciliation. It involves three main steps—creating an IOU payment, raising a vendor invoice with IOU tagging, and matching/unmatching the payment and invoice.

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2. System Requirements

• Browser: Chrome 90+ or Firefox 85+

• User Role: Accounts, Finance, or Admin Access

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3. Logging In

1. Navigate to the Zealit System login page.

2. Enter your username and password.

3. Access the relevant modules from the dashboard (Payments, Vendor Invoice, Payable Matching).

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4. Main Features and Functions

4.1 Creating an IOU Payment

Screen: Payment

1. Select the Other Payment option.

2. In Payment Mode, choose IOU Payment.

3. In the Paid Through field, all cash accounts will be fetched; select one.

4. Enter the Payment Made amount (amount being paid to the employee).

5. Add a Reference in the Reference field, if necessary.

6. Choose the appropriate Payment Date as per access level.

7. Navigate to the Transaction Details tab and click Add New.

8. In the Transaction Code dropdown, select Payable.
   
   

9. A popup will appear:

   • Select the Employee to whom the payment is being made.

   • If multiple recon accounts exist, select the appropriate AP Group.
     
     

10. In Rate Per Quantity, enter the same amount as in Payment Made.

11. Ensure both amounts match to proceed.

12. Once all data is filled, click Submit.

13. For users with appropriate access, two levels of approval can be done via the More button.

14. After L2 Approval, the payment entry will be posted to accounts.
    
    

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4.2 Raising IOU Vendor Invoice

Screen: Vendor Invoice (BL, Transport, Warehouse)

1. When executing any job (TMS, WMS, CHB, NVOCC, FF), add the IOU cost under the Cost Tab.

2. Raise a vendor invoice for the same cost using the appropriate Vendor Invoice screen.

3. Enable the IOU Flag to initiate two levels of approval.
   
   

4. Create the vendor invoice against the employee who received the IOU payment.

5. After submission, the invoice will go through two levels of approval before posting to accounts.

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4.3 Matching IOU Payment with Invoice

Screen: Payable Matching / Unmatching

1. Ensure both the Vendor Invoice and the IOU Payment have been approved.

2. Go to the Payable Matching screen.

3. Select the Vendor (i.e., the employee to whom IOU was paid and invoice was raised).

4. Click the To Be Matched tab to view unmatched vendor invoices and credit notes.
   
   

5. Select the required Invoice.

6. A popup will show all Unmatched Payments made to the vendor.

7. Select either Full or Partial Matching based on the requirement.

8. Click Save to complete the match.

9. A Unique Match Number will be generated.

   • Use this number to search for matched entries.

   • It can also be used to Unmatch entries if necessary.

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5. Troubleshooting Common Issues

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6. FAQs

Can I pay an IOU to any employee?
Yes, as long as they are configured in the system with a recon account using the vendor financial conditions.

What if I paid the wrong employee?
You can reverse the IOU or raise a corrective journal entry after unmatching the transaction.

Is IOU available for non-job-related transactions?
IOU can be done for general use and matched with manual vendor invoice ( Screen name : Vendor invoice ).

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7. Support

For further assistance, contact the IT Help Desk at helpdesk@aggrandizeventure.zohodesk.in