Sales transactions in the Accounting Package

This is an overview of the Sales transactions process in the Accounting Package.

Sales Transactions

The Sales process in the Accounting Package starts with a Sales Quote which can then be copied to a Sales Invoice. You need to ensure that you have setup all required information for your Customers, Payment Terms, Tax codes etc.

Sales Quote – this is a proposal of services to your customer but does not affect the accounting posting. Once created this can then be copied to a Sales invoice to complete the sales process.

Sales Invoice – this is the only legally required document as it is proof of goods/services supplied to your Customer. It will affect your accounting values for Tax, Profit & Loss and Balance sheet (Aged Debtors). This is your request for payment from your customer. A Sales invoice can be added on its own without a Sales quote being linked to it.

Sales Credit Note – this is created from a sales invoice when you need to cancel the invoice or credit the customer account on agreement. This will be automatically reconciled against the invoice, otherwise if it is added on its own you can reconcile when making a payment.

Sales Transactions flow chart:

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