Stage 1 - Sales
In many businesses the majority of transactions are
made on credit. Any credit transactions that you need to record are
entered via the Sales and Purchase Ledgers.
Credit Sales
Credit sales are entered in the Sales Ledger through the
different types of sales invoices. Click on the Customers menu and select one of
the Sales Invoice options:
- Sales Manual
Invoice - For posting invoices onto the ledgers,
where the invoices are manually produced elsewhere, or where no
physical invoice is required. A Manual Invoice does not produce a
printed invoice. For example, this may be used by a travelling
sales person who wants to go round with an invoice book and sell on
the spot. They would then come back to base and manually enter the
day's invoices into the system.
- Sales Trading
Invoice - Used by people who are selling a range of
products (e.g. pots, pans, nails and screws) where each item
needs to itemised and priced individually.
- Sales Service
Invoice - Used by people like solicitors who want
to put a lot of detail in for a single price (e.g. for consultation
fees).
- Trading and Service invoices will be printed on completion and
can then be sent out to the customer. These can be printed
individually, as you enter each invoice, or in batches if you
prefer.
- Any transactions entered in the Sales Ledger will automatically
be posted to the appropriate Nominal Accounts.
Cash Sales
- Unlike credit sales, there is no need to keep detailed customer
records with cash sales. Cash sales can, however, still be entered
in the same way as credit sales (via the sales ledger) but using a
customer account named Cash
Sales.
- To record cash sales, simply click on the Customer menu and select the
relevant sales invoice that best meets your requirements. For
instance, if either you or your customer require a printed invoice
select Trading or
Service Invoice (making
sure that you select Cash
Sales as the account). Alternatively, you can
select the Manual
Invoice option and enter Cash Sales as the account; this way
no invoice will be produced.
- Any transactions entered in the Sales Ledger will automatically
be posted to the appropriate Nominal Accounts.
Notes
For any sales of stock items recorded on a Manual Invoice, you
will also need to make manual adjustments to the Stock Records via
the Stock Ledger. This is done via the Dispatch
Goods window. The reason for this is that a manual invoice
simply records the amounts of any sales rather than the stock items
which make up that sale.
Returns Inwards/Sales
Returns
- If goods are returned to you from a customer (for example, if
the goods you supplied were of the wrong size, type or colour etc)
you will need to issue a Credit Note for that customer. The process
for issuing a credit note is the same as that for issuing a sales
invoice - only once you are in the invoice window simply select the
Invoice Type as 'Credit
Note' instead of 'Invoice'.
- Credit Notes affect the stock levels in the same manner as the
corresponding invoices - so credit notes entered as trading or
service invoices adjust stock records automatically, but manual
credit notes require a manual adjustment to amend stock levels as
appropriate.
