Recording other income & revenue

Quick invoices are used to raise invoices for anything not relating to a sale of products or services; where you do not need to monitor inventory or require an invoice document. It is used to quickly post an accounting journal to record revenue, tax and accounts receivable. Quick invoices are typically used when you are recording accounting data from another software program to transfer open accounts receivable (debtors).

Quick credits can be used for recording bad debt. By using a quick credit you can easily reverse your tax liability and move the sale value to your "bad debt" nominal code. All you need to do then is allocate the credit to the unpaid invoices to clear the customer's account.

A quick invoice or credit may also be used to post VAT only transactions, for example, a customer was charged VAT when they are VAT exempt, a quick credit can easily reverse the VAT accounting and reduce what they owe/be refunded.

Note: If you are invoicing/crediting a customer for items or products and require an invoice/credit note document you should always create a sales order or sales credit.

How to enter a quick invoice for a customer

  1. Go to  Customers > Quick Invoice .
  2. Search for the customer (only primary customer contacts are searchable) or add a new customer.
  3. Select the invoice date and due date. Automatically calculate a due date by clicking  +30 Days .
  4. Enter any further details.
  5. Enter the net amount.
  6. Select the tax code to calculate the tax and total values.
  7. Select the nominal code the charge relates to (e.g. Rent).
  8. To add more rows using a different tax rate or nominal code click the  Add row  button and then enter the details.
  9. To simultaneously create a bank receipt and mark this invoice/credit as paid, select the Mark as paid at the same time checkbox.
  10. Click the  Extra Options  link if you want to associate this invoice with a department, project or lead source.
  11. Click the  Enter Invoice  button. 

The journal is created and posted and the reference displayed in a green message box.

How to enter a VAT only quick invoice / credit

  1. Go to Customers > Quick invoice/credit .
  2. Search for the customer.
  3. Enter details of the transaction.
  4. Unselect the Autocalculate tax checkbox.
  5. Enter the tax amount to be invoiced/credited, but leave the net amount as zero.
  6. Select the relevant tax code; this is used to ensure the amount displays in the correct place on the VAT return. (When crediting a tax overcharge on a sale ensure you use the same code as the original sale, to reverse the original entry).
  7. Select the relevant nominal code. (When crediting a tax overcharge ensure you use the same sales code as the original sale, this will reverse the original entry).
  8. Ensure the total is only the tax amount to be invoiced/credited.
  9. To simultaneously create a bank receipt and mark this invoice/credit as paid, select the Mark as paid at the same time checkbox.
  10. Click the Enter journal button to finish.

The invoice/credit journal will be posted to accounts and the customer account balance adjusted accordingly. The invoice/credit will be displayed on the customer's payment allocation screen until it is paid or matched/allocated.

 
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