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Entering an Invoice - Items Card Part 3 (Footer)

This page describes the fields in the Footer of the 'Items' card of the Invoice record. Please follow the links below for descriptions of the other cards:
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Footer


In addition to the Currency, the Invoice Footer contains various running totals as described below. Whenever you add or change an Invoice row, these totals will be updated automatically.
Currency
Paste Special    Currency register, System module
Default taken from    Contact record for the Customer (Sales Currency) or Default Base Currency
The Currency of the Invoice: the exchange rate is shown on the 'Currency' card where you can change it for an individual Invoice if necessary. Leave the field blank to use your home Currency (unless you have set a Default Base Currency, in which case this will be offered as a default and should be treated as your home Currency).

If the Contact record for the Customer has a Sales Currency specified on the 'Pricing' card, you can only use that Currency. Otherwise, you can use any Currency.

If you change the Currency after adding Items to the Invoice, the prices of those Items will not be recalculated automatically. You will need to force a recalculation using the 'Update Currency Price List Items' function on the Operations menu (Windows/Mac OS X) or Tools menu (iOS/Android).

GP %
The overall gross profit for the Invoice, shown as a percentage.

In multi-user systems, you can prevent certain users from viewing the GP % in Quotations, Orders and Invoices using Access Groups, by denying them access to the 'View Item's Cost Price' Action. In an Invoice, this will hide the Cost field, the Total GP field immediately below, the Cost Price, Cost B2, GP and FIFO fields on flip C of the matrix and the Row FIFO field on flip D.

Total GP
The total gross profit for the Invoice. As with the GP % field above, this includes any profit in the Freight value, as set in the Freight or Freight/Weight Calculation settings.

Tax2
This field is used in Argentina.

If the Invoice has a Region on its 'Inv. Address' card, and the Region is one where a Regional Perception Tax is charged on at least one of the Items on the Invoice, the amount of that tax will be shown in this field, in the Currency of the Invoice. That amount will be recalculated as you add Items to the Invoice.

When you mark the Invoice as OK and save it, the Tax2 will be credited to the Account specified in the appropriate Regional Perception Tax record. If you have specified a Min. (minimum Regional Perception Tax amount), and the Tax2 in an Invoice is less than this minimum amount, this field will be blank. This field will also be blank if the Customer is one whose No Region Perceptions box has been ticked ('Terms' card).

Ext. Tax
When you define VAT Code records using the setting in the Nominal Ledger, you can use the fields on flip B to specify that an additional tax, such as an environmental tax, is to be levied. This additional tax is usually termed "Extra Tax".

If the VAT Code in any of the rows of the Invoice is one that you have configured to include Extra Tax, the amount of that tax will be shown in this field, in the Currency of the Invoice. That amount will be recalculated as you add Items to the Invoice.

When you mark the Invoice as OK and save it, this Extra Tax will be credited to the Tax Account specified for the appropriate VAT Code. The debit posting will depend on whether you are using the Total not including Ext. Tax option on the 'VAT / Tax' card of the Account Usage S/L setting. If you are not using this option, the Extra Tax will be included in the TOTAL of the Invoice and will therefore be included in the debit posting to the Debtor Account. If you are using this option, the Extra Tax will not be included in the TOTAL, and it will be debited to the Tax on Sales Account, also as specified on the 'VAT / Tax' card of the Account Usage S/L setting. You will therefore need to use this option if the Extra Tax is one that will not be paid by Customers.

If you have specified a Tax Min. (minimum Extra Tax amount) for a VAT Code, and the Extra Tax in an Invoice is less than this minimum amount, this field will be blank. This field will also be blank if the Customer is one whose No Extra Tax box has been checked ('Terms' card).

Please refer to the description of flip B of the VAT Codes setting for more details about how the Extra Tax figure is calculated together with examples.

VAT, Tax
The VAT total for the Invoice (or tax total if you are using the Use Tax Templates for Tax Calculation option in the Transaction Settings setting in Nominal Ledger).

This figure will be rounded up or down according to the Default for Calculated Values rounding rules set in the Round Off setting in the System module.

In the Nominal Ledger Transaction resulting from an Invoice, any amounts lost or gained in this rounding process will be posted to the Round Off Loss or Round Off Gain Accounts specified in the Account Usage S/L setting, as appropriate.

Base
The Base is the Invoice total including VAT in your home Currency (or in Base Currency 1 as defined in the Base Currency setting in the System Module). The field will not be used if the Currency of the Invoice is blank.

Subtotal
The total value of the Invoice rows (i.e. the total of the values in the Sum field).

This figure will include VAT (and TAX) if the Price List specified is one that is Inclusive of VAT or if you have specified on the 'VAT / Tax' card of the Account Usage S/L setting that Base Prices include VAT (or VAT and TAX).

The Subtotal will be rounded up or down according to the Default for Calculated Values rounding rules in the Round Off setting in the System module.

TOTAL
The total for the Invoice, including VAT.

This figure will be rounded up or down according to the Total rounding rules set for the Currency/Payment Term combination in the Currency Round Off setting in the System module. If that setting does not contain an entry for that combination, the Total rounding rules in the Round Off setting also in the System module will be applied. In the Nominal Ledger Transaction resulting from an Invoice, any amounts lost or gained in this rounding process are posted to the Round Off Loss or Round Off Gain Accounts specified in the Account Usage S/L setting, as appropriate.

If you are using the Disallow Negative Totals on Sales option in the Account Usage S/L setting, you will not be able to mark an Invoice as OK and save it if the TOTAL is negative.
Flips A and B of the 'Items' card are described in Part 1 here, and flips C-G are described here.

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The Invoice register in Standard ERP:

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