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Invoice [MIGRATED]

Migrated to http://wavelet.asia/customer-portal/2011/02/25/create-invoice/

This function is available under Trading > Transaction > Invoice

1. CREATING AN INVOICE

To create an invoice, you could fill in the form in the following sequence:

a) Select a customer account or contact. If you choose a contact, the invoice would fill in the delivery address with the contact address.    This is useful for company with one central billing address, and multiple delivery locations (chain stores and franchises).

b) Start adding inventory items, packages or multi-code / pseudo-code packages.

c) Modify other details, including remarks, terms, salesman etc if required.

d) Confirm and Save.

2. CREDIT CONTROL

Wavelet build in the credit control feature in the screen. When a customer is black listed, or its credit terms or credit limit have busted the pre-set values for this account, users will not be able to save the invoice.

Users could contact the HQ or personnel with the permission to modify the status from "Black Listed" to "OK" and change the credit limit.

The list of outstanding invoices will also be displayed on the screen alerting the person issuing the bill.

3. INTEGRATION WITH INVENTORY

When invoice is saved, the system will deduct the stock in the inventory module. The moving average cost of the stock is captured at the point the invoice is issued. Hence, if there's a back dated invoice, the current average stock value is used, instead of the back dated average stock.

4. OTHER FIELDS

No

Field Name

Description

1

Deliver To

By default, delivery is assumed to be the same as the billing address. For customer with multiple branches or locations, users could add "Contact Person" to the account, and click on it when selecting the customer. When a contact person is selected, the invoice will change the "Delivery Address" to follow that of the contact person, and this could be different from the billing address.

2

Remarks

Any additional instructions or note could be recorded here.

3

Terms

By default, the terms of each invoice follow the terms recorded in each customer account, however, if the terms for this specific invoice is different from that, user could modify the terms here.

4

Salesman

By default, the salesman is the user, however, should the invoice be issued on behalf of other salesman, users could modify it.




5. PACKAGES

A package consist of a set of items as specified by the Bill of Material in the inventory module. After pulling out a package, users could modify the content of the package while creating an invoice.

6. PSEUDO CODE (MULTI-CODE)

Pseudo Code means fake code or nickname for a product. For some businesses, they are require to print different product code and product description in the invoice, even though they deduct the stock from the real inventory item code behind the scene upon saving of invoices.

7. CONVERTING JOB SHEET TO INVOICE

By keying in the job sheet number, users could pull out all details in the job sheet into an invoice for billing purpose. This function is extremely useful to reduce the waiting time. Invoice saved could not be modified, but job sheet could be modified until it has copied to an invoice, and the invoice is saved.

8. REPRINTING INVOICE

There is a box for re-printing of invoice.

9. PRINTING FORMAT

Users could change the printing format when necessary while creating invoice.

10. VIEWING GROSS PROFIT / COST

Before saving, users could click on the "Gross Profit" button, and a table will appear to show the gross profit of this invoice (total amount - total cost).

If the gross profit is negative, a warning will appear, alerting the users to double check the pricing.

11. TAX

When users enter the price for each item, they could include the Tax amount. The system will calculate the net sales as amount after tax. For the tax to take effect, there are 2 things users should check:

a) Item Code maintenance

  • Please make sure the tax rate is specified, and tax option is selected.

b) System Admin -> Tax Configurations

  • Select the GL Code for tax, as well as specifying other options.

12. JOURNAL TRANSACTION

No

Description

Debit

Credit

1

Sales


Net Sales Amount

2

Tax


Tax Amount

3

Account Receivable

Net Sales Amount + Tax Amount


4

Inventory


Cost of Stock

5

inventoryCost (Cost of Goods Sold)

Cost of Stock


13. EDIT INVOICE

Only certain information like salesman, remarks could be edited. If there is a mistake in pricing, users will have to do a sales return and re-issue a new invoice. Permission could be set to ensure only people with certain authority has access to this function.

14. DELIVERY ORDER

In Wavelet, Delivery Order is just another printable document/form that is based on the invoice, it shares the same running number. The only difference is the title of the document, printing format, and the price is not shown at the delivery order.

15. SETTLEMENT

An invoice would remain outstanding until the user perform a settlement / collection at the CUSTOMER > SETTLEMENT. If an invoice is not settled after the preset credit terms of this customer account, the account will be "Black Listed" or suspended.

16. DEPOSIT (Official Receipt)

If the customer has previously paid a deposit, upon selecting the customer account, the system would allow the user to choose the previous deposit that would be used to knock off this invoice upon saving of the invoice. The deposit is entered in the Customer > Settle Documents / Deposit. This will save the user one step of going to the "Deposit Settlement Screen" to pull out the deposit (official receipt) to knock of the invoice.

17. SELLING BELOW COST

When users sell below cost, the system will display red colors on items that are below cost. Since it is common that some users prefer to lump the total amount into one item, instead of keying in per item pricing, thus, the system provides an additional button 'Selling below cost permission' at the top of the screen to allow the creation of invoice if the total cost of goods sold is less than the total amount of the invoice.




ċ
createinvoice.bs4
(358k)
Nurul Ifah,
Aug 25, 2009, 1:00 AM
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createinvoice2
(276k)
Nurul Ifah,
Aug 25, 2009, 1:00 AM
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