Sales, receivables and receipts

Step by step

1. 1Choose the appropriate sales type: a previously issued invoice, an individual or daily sale, or an external credit note.
2. 2Use the document or sales date for the sale and the actual receipt date for each payment. Revenue and cash flow can therefore fall in different reporting periods.
3. 3Check the customer, revenue account, VAT treatment and amounts. For an invoice, its number, date, supplier, customer, supply and amounts must meet the applicable invoice requirements.
4. 4Record a receipt through bank, cash, an account of a linked administration or current account. For current account, separately choose Who should this be settled with?: the shareholder and their administration, possibly through a linked administration. The customer remains unchanged. The account or configured current-account route determines the receipt currency.
5. 5Leave a partial payment visibly open. For an overpayment, decide whether the excess remains as customer credit or is handled through a separate refund. A credit shows the original refundable amount, the amount already refunded and the remainder. After a full refund, the remainder is zero.
6. 6Use a credit or correction document when revenue or VAT must change. A payment difference or customer credit does not change the original revenue or VAT.

What is on the screen?

• Sales type, customer and document details
• Revenue lines and VAT treatment
• Receipt date, account and amount
• Outstanding amount, customer credit or refund

What happens next?

After posting, revenue and any VAT appear in the period of the sales document, while receipts update the bank, cash or current account and the customer receivable on their own dates. Under invoice accounting, the invoice date generally determines the VAT period; where cash accounting applies, VAT follows actual receipts. A bad debt requires a separate assessment and correction rather than a silent payment-difference write-off.

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