Entering an Invoice - Terms Card
- Invoice Date
- Paste Special
Choose date
- The current date according to the computer's clock is entered as a default. This must be the same as the Transaction Date (below) and cannot be changed independently.
- Our Ref.
- Use this field if you need to identify the Invoice by means other than the Invoice Number. A default will be taken from the Our Reference field of the Person record of the current user.
- Payment Terms
- Paste Special
Payment Terms setting, Sales Ledger/Purchase Ledger
- Default taken from Contact record for the Customer (Sales Pay Terms)
- Payment Terms entered here will be used to calculate the Due Date (below), in addition simply to ensuring that the correct Payment Terms appear on the printed Invoice document.
- Specifying Payment Terms for each Invoice provides the basis for the debt-chasing reports provided in Standard Accounts.
- Payment Terms are also the means by which Cash Notes and Credit Notes are distinguished from ordinary Invoices. Using 'Paste Special', select a Payment Term record of the "Cash" or "Credit Note" Type respectively. When you then approve and save the Invoice, the appropriate Nominal Ledger Transaction will be created. In the case of Cash Notes, this will debit the Cash Account (as specified in the Payment Term record) rather than the Debtor Account, while in the case of Credit Notes, the Transaction will be a reversal of the original Invoice Transaction.
- Cash Notes are immediately treated as paid and so will not appear in your debtor reports. There is no need to enter a payment against them. If you need to reverse a Cash Note, use a negative Cash Note, not a Credit Note.
- When you enter a Payment Term of the "Credit Note" type, a crediting message will be entered in the first row of the grid area. Enter the number of the Invoice to be credited, using 'Paste Special' if necessary to bring up a list of open (unpaid) Invoices.
- If an Invoice has a "Cash" or "Credit Note" Payment Term, the Invoice will not use the standard Invoice document when it is printed. Instead, the Cash Note or Credit Note (respectively) document will be used. Please refer to the Printing Invoices page for more details.
- Attn.
- Paste Special
Contact Persons in Contact register
- Default taken from Contact record for the Customer
- Record here the person for whose attention the Invoice is to be marked. 'Paste Special' will list the Contact Persons belonging to the Customer.
- Due Date
- Paste Special
Choose date
- This is the date on which the Invoice becomes due for payment. It is calculated by Standard Accounts using the Invoice Date and the Payment Term.
- You can change the Due Date after you have approved the Invoice. This will be useful if you agree with the Customer that they will pay the Invoice on a particular date.
- Service Del. Date
- Paste Special
Choose date
- Use this field to record the date when you delivered the goods or services listed in the Invoice. The Invoice Date will be placed here when you save the Invoice for the first time. You can change the date if necessary.
- Transaction Date
- This date will be used as the Transaction Date in the Nominal Ledger Transaction that will result from the Invoice. This must be the same as the Invoice Date and cannot be changed independently.
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