Accounting options

There are a number of settings that can be configured for Brightpearl's accounting module. Review them under Settings > Company > Accounting: Options.

Lock overdue accounts

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This setting prevents you from raising sales for customers who are over their credit limit.

If set to 'Yes', you will not be able to raise a sale for a customer whose account balance exceeds their credit limit. A screen will display stating the customer's account balance and credit limit:

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If set to 'No', you can raise sales for customers regardless of their account balance.

Warning: This setting does not prevent you from raising a sale that will take the the customer over their limit. For example, if their credit limit is £1000 and their current account balance is £900, you will still be able to raise a sale for any value.

Lock matched bank transactions

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This setting allows you to lock transactions that have been matched using an imported statement. 

Select 'Yes' to prevent further edits to matched bank transactions, and 'No' to allow edits.

Learn more about bank matching here.

Last invoice reference

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Use this setting to determine your invoicing sequence.

The number in the box must be no lower than the last reference to be used in your account.

Allow un-invoicing?

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Choose whether sales, purchases, sales credits and purchase credits can be uninvoiced.

If set to 'Yes', staff members will still need the invoice permission for sales and purchases to be able to perform the task.

Use 'cost of sales' accounting

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Enabling 'Cost of sales' accounting means every order containing a stock tracked item will generate accounting entries to affect an inventory asset account. Sales also affect a 'cost of goods sold' code, while purchases use a 'stock received not invoiced' or 'stock in transit' code. This is a more accurate method of inventory reporting and allows you to report on the income statement over any time period.

Disabling this setting means inventory transactions will not create accounting. Instead, cost will be calculated using the traditional periodic method of inventory accounting, where an opening inventory balance is added to purchases for the month, and the closing balance subtracted.

Changing your inventory accounting method once you've started to enter transactions should only be done after consulting with your accountant.

Learn more about the difference between having cost of sales accounting enabled and disabled here.

Use invoice date as posting date for cost of goods sold

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Note: This can only be enabled if 'Use cost of sales accounting' is set to 'Yes'.

Enabling this setting means that in the event an invoiced order is marked as shipped, the goods out journal will be dated to the order's invoice date instead of the date the order is marked as shipped.

Disabling the setting means the goods out journal will use the date the order is marked as shipped.

Learn more about why this should be enabled here.

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Defer cost of sales for orders shipped not invoiced

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Note: This can only be enabled if 'Use cost of sales accounting' is set to 'Yes'.

Enabling this setting means that in the event an uninvoiced order is marked as shipped, the goods out journal will use a 'deferred cost of sales' code instead of a cost of sales code. Then, on invoicing, another journal will post to move the value from 'deferred cost of sales' to 'cost of sales'.

This means the cost and revenue will be recorded in the same period.

Disabling the setting means the goods out journal will post directly to the cost of sales code.

Learn more about why this should be enabled here.

Use today as tax date when invoicing

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The tax date is the date a transaction affects the accounts.

Enabling this setting will update the order's tax date on invoicing to the current date, meaning invoicing an order will always affect the accounts on the day it's invoiced.

Disabling the setting will use the tax date on the order's tax date field.

Recalculate payment due date when invoicing

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The payment due date is set based on the order's tax date and the customer's credit terms, but can also be set manually.

This setting controls whether the payment due date is recalculated by the system when an order is invoiced.

Year end warning

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If your financial period is open and you are posting to a date that falls outside of it, a warning will pop up to let you know the transaction is not inside the financial period.

Change this setting to 'No' to prevent this message from appearing.

Have more questions? Submit a request