Accounting options

Review and set your accounting options at Settings > Company > Accounting: Options.

  • Lock matched bank transactions

    Select 'Yes' to prevent edit of bank transactions matched to imported statements (recommended).
    Selecting 'No' allows for more flexibility at the risk of invalidating statement matches that have been completed.

  • Lock overdue accounts

    Select 'Yes' to prevent sales to customers that have gone over their credit limit.
    If you select 'No', customer accounts can continue to raise new orders even if they are already over their credit limit.

  • Last invoice reference

    Your next invoice will be SI- 100469

  • Use "Cost of sales" accounting

    Choose 'Yes': If you use Cost of Sales accounting, then every sale containing inventory items will include accounting entries to reduce your asset accounts and increase your "cost of goods sold". Receiving Goods from a Purchase Order on the Goods-in screen will add value to your asset accounts, and put a provisional balance on "Stock received not invoiced". Receiving a Purchase Invoice against the Purchase Order will clear the balance on the "Stock received not invoiced" account. This is the more accurate method, and allows you to report Profit & Loss over any time period accurately.

    Choose 'No': If you don't use Cost of Sales accounting, then your Purchase Invoices will be recorded directly against your Purchases codes. No "cost of goods sold" entries will be made when sales are made. You'll need to run a stock take regularly to record opening and closing inventory balances. This method requires regular stock takes, and is less accurate.

    Changing your inventory accounting method once you've started to enter transactions will probably require help from your accountant. We strongly suggest you read the documentation on inventory management.

  • Use today as tax date when invoicing

    Setting this to 'Yes' will always use today's date as the tax date on orders when posting to accounts.
    'No' means the tax date will retain whatever value is already present in the field on the order when you invoice it.

  • Use today as due date when invoicing

    Setting this to 'Yes' will add the customer credit terms to today's date to give the due date when posting to accounts.
    'No' means the current due date on the order will be used instead.

  • Use default email address for billing email

    Select 'Yes' to use the main email address as the billing email address when creating Quotes and Orders if no accounts email address exists for a contact.
    If set to 'No', then the billing email address on the order will be blank.

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