Controlled Online Accounting

1. Controlled Online Accounting Customers and Sales

2. Customers and Sales Main Page Clicking the “Sales” tab displays the Customers and Sales Main Page. This page provides navigation to forms and functionality related to customers, sales and accounts receivable. Normal (daily) sales activities include creating, editing and approving customer invoices, and recording customer payments. Reports of sales and accounts receivable aid in customer collections and sales analysis. Existing invoices can be voided or adjusted only by users granted the Sales Approval permission, and such changes are recorded in the general ledger, thus preserving an audit trail and the integrity of the accounting transactions.

3. Customer Invoices Creating a customer invoice records revenue and an account receivable from a customer. Users can be given only the ability to create and/or approve customer invoices, making it easy to delegate these roles to sales or operational personnel. Select the customer Select the approver for this invoice (this can be the same person entering the details, if they have been granted the Sales Approval permission) Select a preset sales Item or the appropriate income account Enter the description, quantity and price per unit for each item Users can also record a customer PO number, sales representative and memo for each invoice. Invoice details can be associated with specific departments and an invoice can be set up to recur multiple times in the future. The date can be modified to record sales from prior periods.

4. Edit and Approve Invoices Saved invoices and invoices submitted for approval are accessed from the “Edit/Approve Sales” tab. Customer invoices must be approved before they can be printed or emailed, and before they have an impact on the company’s revenues. Saved (not submitted or approved) invoices can be accessed by anyone with Sales Entry or Sales Approval permissions.

5. Customers Users with permission to Add/Modify Customers can create or modify customer details from the “New Customer” and “Modify Customer” tabs. Enter the customer name Select the payment terms (this determines when customer balances are considered overdue) Optional information for customers can be stored to aid in communication and collection of outstanding balances, including address, contact name, telephone and email. While a credit limit does not prevent new invoices from being issued, users see current balances and credit limits when creating invoices, enabling them to withhold sales if a customer is exceeding their credit.

6. Customer Payments Users with permission to Apply Customer Payments can do so from the “Payments” tab. Enter the payment amount Enter the payment date Select the appropriate cash account Payments can be recorded as having been deposited in one of many bank accounts. Partial payments can be recorded, resulting in a reduced ‘Unpaid Amount’ remaining outstanding.