A Sales Invoice is a bill that you send to your Customers against which the Customer makes the payment.
Sales Invoice is an accounting transaction. On submission of Sales Invoice, the system updates the receivable and books income against a Customer Account.
To access the Sales Invoice list, go to:
Home > Accounting > Accounts Receivable > Sales Invoice
Before creating and using a Sales Invoice, it is advised to create the following first:
A Sales Invoice is usually created from a Sales Order or a Delivery Note. The Customer's Item details will be fetched into the Sales Invoice. However, you can also create a Sales Invoice directly, for example, a POS invoice.
To fetch the details automatically in a Sales Invoice, click on the Get Items from. The details can be fetched from a Sales Order, Delivery Note, or a Quotation.
For manual creation, follow these steps:
These are the statuses that are auto-assigned to Sales Invoice.
Accounting Dimensions lets you tag transactions based on a specific Territory, Branch, Customer, etc. This helps in viewing accounting statements separately based on the selected dimension(s). To know more, check help on Accounting Dimensions feature.
Note: Project and Cost Center are treated as dimensions by default.
You can set the currency in which the Sales Invoice order is to be sent. This can be fetched from the Customer master or preceding transactions like Sales Order.
If you select a Price List, then the item prices will be fetched from that list. Ticking on 'Ignore Pricing Rule' will ignore the Pricing Rules set in Accounts > Pricing Rule.
Read Price List documentation to know more.
Note: From version-13 onwards we have introduced immutable ledger which changes the rules for cancellation of stock entries and posting backdated stock transactions in OneOfficeERP. Learn more here.
If you want to bill Employees working on Projects on an hourly basis (contract based), they can fill out Timesheets which consists of their billing rate. When you make a new Sales Invoice, select the Project for which the billing is to be made, and the corresponding Timesheet entries for that Project will be fetched.
If your Company's Employees are working at a location and it needs to be billed, you can create an Invoice based on the Timesheet.
To know more, visit this page.
The Taxes and Charges will be fetched from the Sales Order or Delivery Note.
Visit the Sales Taxes and Charges Template page to know more about taxes.
The total taxes and charges will be displayed below the table.
To add taxes automatically via a Tax Category, visit this page.
Make sure to mark all your taxes in the Taxes and Charges table correctly for an accurate valuation.
A Shipping Rule helps set the cost of shipping an Item. The cost will usually increase with the distance of shipping. To know more, visit the Shipping Rule page.
If the Customer is enrolled in a Loyalty Program, they can choose to redeem it. To know more, visit the Loyalty Program page.
Any additional discounts to the whole Invoice can be set in this section. This discount could be based on the Grand Total i.e., post tax/charges or Net total i.e., pre tax/charges. The additional discount can be applied as a percentage or an amount. Visit the Applying Discount page for more details.
In many cases, the discount given on Invoices on the grand total amount is not an itemized discount. Its a cash or a non-trade discount, means that this type of discount doesn't affect the tax value applied on the items.
If this is unchecked the discount applied on grand total will still be considered as an temized discount since its affecting tax values
For high-value Items, the seller can request an advance payment before processing the order. The Get Advances Received button opens a popup from where you can fetch the orders where the advance payment was made. To know more, visit the Advance Payment Entry page.
The payment for an invoice may be made in parts depending on your understanding with the Supplier. This is fetched if set in the Sales Order. To know more, visit the Payment Terms page.
Write off happens when the Customer pays an amount less than the invoice amount. This may be a small difference like 0.50. Over several orders, this might add up to a big number. For accounting accuracy, this difference amount is 'written off'. To know more, visit the Payment Terms page.
There may be certain terms and conditions on the Item you're selling, these can be applied here. Read Terms and Condition documentation to know how to add them.
If you outsource transporting Items to their delivery location, the transporter details can be added. This is not the same as drop shipping.
The details are usually fetched from the Delivery Note.
The following details can be recorded:
You can print your Sales Invoice on your Company's letterhead. Know more here.
'Group same items' will group the same items added multiple times in the Items table. This can be seen when your print.
Sales Invoice headings can also be changed when printing the document. You can do this by selecting a Print Heading. To create new Print Headings go to: Home > Settings > Printing > Print Heading. Know more here.
There are additional checkboxes for printing the Sales Invoice without the amount, this might be useful when the Item is of high value. You can also group the same Items in one row when printing.
The following Sales details can be recorded:
If the sale took place via one of your Sales Partners, you can add their commission details here. This is usually fetched from the Sales Order/Delivery Note.
Sales Persons: OneOfficeERP allows you to add multiple Sales Persons who may have worked on this deal. This is also fetched from the Sales Order/Delivery Note.
If you are selling an Item from a Batch, OneOfficeERP will automatically fetch a batch number for you if "Update Stock" is checked. The batch number will be fetched on a First Expiring First Out (FEFO) basis. This is a variant of First In First Out (FIFO) that gives the highest priority to the soonest to expire Items.
Note that if the first batch in the queue cannot satisfy the order on the invoice, the next batch in the queue that can satisfy the order will be selected. If no batch can satisfy the order, OneOfficeERP will cancel its attempt to automatically fetch a suitable batch number.
Consider a scenario where the retail transaction is carried out. For e.g: A retail shop. If you check the Is POS checkbox, then all your POS Profile data is fetched into the Sales Invoice and you can easily make payments.
Also, if you check the Update Stock the stock will also update automatically, without the need for a Delivery Note.
On submitting a Sales Invoice, the following documents can be created against it:
All Sales must be booked against an “Income Account”. This refers to an Account in the “Income” section of your Chart of Accounts. It is a good practice to classify your income by type (like product income, service income, etc). The Income Account must be set for each row of the Items table.
Tip: To set default Income Accounts for Items, you can set it in the Item or Item Group.
The other account that is affected is the Account of the Customer. That is automatically set from “Debit To” in the heading section.
You can also mention the Cost Centers in which your Income must be booked. Remember that your Cost Centers tell you the profitability of the different lines of business or product. You can also set a default Cost Center in the Item master. See also: Accounting Dimensions.
When booking a sale (accrual):
To see entries in your Sales Invoice after you “Submit”, click on “View Ledger”.