Navigating to Financial Transactions

Explaining Financial Transactions  Fields

Invoices 

Credit note

Payment

Refund 

Creating & Saving, Validations & Restrictions

Creating an Invoice

1. Navigate to Financial Transaction page and from the top menu click on the NEW > INVOICE to open the Invoice data entry page
    

2. MAIN INFORMATION

   1. Accounts Receivable: Search and add the account for which the invoice is for
   2. Type: Select a type of invoice from the drop down list, if different than the default
   3. Due On: Click on the Calendar icon to select the due date (if not defined it will be automatically calculated by the system)
   4. Category: Search and add a category

3. ITEMS

   1. Click on ADD to open Products modal and search for a product to add as an item of the invoice
   2. In the record added provide the following information
      1. Product Code: Automatically added by the system
      2. Quantity: Set the quantity to charge for the product
      3. Unit Price: Set the cost of the product
      4. Discount: Select whether you would like to add a discount amount or a Discount Percentage
         
      5. According to the selection the respective field will be made editable while the other will remain read only
         
         1. Discount percentage: Apply a percentage discount
         2. Discount amount: Apply a fixed amount
      6. VAT rate: The VAT rate that is default for the selected product will be loaded by the system. If you would like to change the rate then you can choose another one from the drop down list.
         The default VAT rate is specified on each product
      7. VAT percentage:The VAT percentage that is applied, based on the selected VAT rate
      8. VAT Amount will be automatically calculated based on the Selected VAT rate
      9. Sub Total:The total amount that will be invoiced for the specified product
         Every time an item is added and its details completed the system will automatically calculate the following aggregate amounts based on the information provided in the items fields
   3. Discount amount: Total Discount Amount
   4. VAT amount: Total VAT amount
   5. Net amount: Total NET amount
   6. Total amount : Sum of all of the Subtotals in the section
      
4. From the Action Menu click on SAVE or SAVE AS DRAFT

5. LOG INFORMATION

   The following information is automatically set by the system on saving the Financial Transactions

   1. Log information section keeps all the logging information related to the specific record

      • Basic set of information available in all entities
        • Created By User: The user that created the entity
        • Created By Unit: The unit of the user that created the entity
        • Updated By User: The user that last updated the entity
        • Updated by Unit: The unit of the user that last updated the entity
        • Date Created: The date the account was entity
        • Date Updated: The date the account was last entity
          

Creating a Credit Note

1. Navigate to Financial Transaction page and from the top menu click on the NEW > CREDIT NOTE to open the Credit Note data entry page
   

2. MAIN INFORMATION

   1. Accounts Receivable: Search and add the account for which the credit note is for
   2. Type: Select a type of credit note from the drop down list, if different than the default
   3. Category: Search and add a category
   4. Issue Reason: Provide the reason the credit note is created

3. ITEMS

   1. Click on ADD to open Products modal and search for a product to add as an item of the credit note
   2. In the record added provide the following information
      1. Product Code: Automatically added by the system
      2. Quantity:Set the quantity to charge for the product
      3. Unit Price: Set the cost of the product
      4. Discount: Select whether you would like to add a discount amount or a Discount Percentage
      5. According to the selection the respective field will be made editable while the other will remain read only
         
         1. Discount percentage: Apply a percentage discount
         2. Discount amount: Apply a fixed amount
      6. VAT rate:The VAT rate that is default for the selected product will be loaded by the system. If you would like to change the rate then you can choose another one from the drop down list. 
         The default VAT rate is specified on each product
      7. VAT percentage:The VAT percentage that is applied, based on the selected VAT rate
      8. VAT Amount: will be automatically calculated based on the Selected VAT rate
      9. Sub Total: The total amount that will be invoiced for the specified product
         Every time an item is added and its details completed the system will automatically calculate the following aggregate amounts based on the information provided in the items fields
   3. Discount amount: Total Discount Amount
   4. VAT amount: Total VAT amount
   5. Net amount: Total NET amount
   6. Total amount : Sum of all of the Subtotals in the section

4. INVOICES TO CREDIT

   1. Click on ADD to open Invoices modal of the specified account and search for an invoice to add
5. From the Action Menu click on SAVE or SAVE AS DRAFT

6. LOG INFORMATION

   The following information is automatically set by the system on saving the Financial Transactions

   1. Log information section keeps all the logging information related to the specific record

      • Basic set of information available in all entities
        • Created By User: The user that created the entity
        • Created By Unit: The unit of the user that created the entity
        • Updated By User: The user that last updated the entity
        • Updated by Unit: The unit of the user that last updated the entity
        • Date Created: The date the account was entity
        • Date Updated: The date the account was last entity
          

Creating a Payment

1. Navigate to Financial Transaction page and from the top menu click on the NEW > PAYMENT to open the Payment data entry page
   

2. MAIN INFORMATION

   1. Accounts Receivable: Search and add the account for which the payment is for
   2. Type: Select a type of payment from the drop down list, if different than the default
   3. Category: Search and add a category
      
   4. Amount: Enter the amount of the payment
   5. Received on: Select the date that the payment was received. It defaults to the issued date if not specified
   6. Received by user: Search and add the user who actually received the payment. It defaults to the logged in user if not specified
   7. Received by unit: Add the he unit who actually received the payment. 

3. PAYMENT INFORMATION

   1. Bills to Pay
      1. Click on ADD to open Bills modal of the specified account and search for a bill to add
   2. Invoices to Pay
      1. Click on ADD to open Invoices modal of the specified account and search for an invoice to add
4. From the Action Menu click on SAVE or SAVE AS DRAFT

5. LOG INFORMATION

   The following information is automatically set by the system on saving the Financial Transactions

   1. Log information section keeps all the logging information related to the specific record

      • Basic set of information available in all entities
        • Created By User: The user that created the entity
        • Created By Unit: The unit of the user that created the entity
        • Updated By User: The user that last updated the entity
        • Updated by Unit: The unit of the user that last updated the entity
        • Date Created: The date the account was entity
        • Date Updated: The date the account was last entity
          

Creating a Refund

1. Navigate to Financial Transaction page and from the top menu click on the NEW > REFUND to open the Refund data entry page
   

2. MAIN INFORMATION

   1. Accounts Receivable: Search and add the account for which the refund is for
   2. Type: Select a type of refund from the drop down list, if different than the default
   3. Category: Search and add a category
      
   4. Amount: Enter the amount of the refund
   5. Issue Reason: Provide the reason for the refunding
3. From the Action Menu click on SAVE or SAVE AS DRAFT

4. LOG INFORMATION

   The following information is automatically set by the system on saving the Financial Transactions

   1. Log information section keeps all the logging information related to the specific record

      • Basic set of information available in all entities
        • Created By User: The user that created the entity
        • Created By Unit: The unit of the user that created the entity
        • Updated By User: The user that last updated the entity
        • Updated by Unit: The unit of the user that last updated the entity
        • Date Created: The date the account was entity
        • Date Updated: The date the account was last entity
          

System Processing

Invoice

• SAVE AS DRAFT
  • Life cycle state is set to draft
  • Issued date is set
  • Reference number is set
  • Invoice Items sub amounts and total amounts are calculated
  • Back Office Code Validation - AVAILABLE FROM CRM.COM R9.0.0
    • If the back office code is specified then:
      • System will validate that the back office is unique for that kind of financial transaction type
    • If a back office code is not specified then
      • No validation is applied
• SAVE (POSTED)
  If the invoice is created and posted at the same time then 
  
  • Life cycle state is set to posted
  • Posted date is set
  • Transaction number is set
  • Due date is calculated and set, if not set
  • Unallocated credit notes are allocated against this invoice based on the allocation principle specified in the active accounts receivable definition
  • Invoice Items sub amounts and total amounts are calculated
  • Back Office Code Validation - AVAILABLE FROM CRM.COM R9.0.0
    • If the back office code is specified then:
      • System will validate that the back office is unique for that kind of financial transaction type
    • If a back office code is not specified then
      • No validation is applied

Credit Note

• SAVE AS DRAFT
  • Life cycle state is set to draft
  • Issued date is set
  • Reference number is set
  • Credit Note Items sub amounts and total amounts are calculated
  • Invoice Items sub amounts and total amounts are calculated
  • Back Office Code Validation - AVAILABLE FROM CRM.COM R9.0.0
    • If the back office code is specified then:
      • System will validate that the back office is unique for that kind of financial transaction type
    • If a back office code is not specified then
      • No validation is applied
• SAVE (POSTED)
  If the credit note is created and posted at the same time then 
  
  • Life cycle state is set to posted
  • Posted date is set
  • Transaction number is set
  • Credit note is allocated against any unallocated invoices based on the allocation principle specified in the active accounts receivable definition
  • Invoice Items sub amounts and total amounts are calculated
  • Back Office Code Validation - AVAILABLE FROM CRM.COM R9.0.0
    • If the back office code is specified then:
      • System will validate that the back office is unique for that kind of financial transaction type
    • If a back office code is not specified then
      • No validation is applied

Payment

• SAVE AS DRAFT
  • Life cycle state is set to draft
  • Issued date is set
  • Reference number is set
  • Invoice Items sub amounts and total amounts are calculated
  • Back Office Code Validation - AVAILABLE FROM CRM.COM R9.0.0
    • If the back office code is specified then:
      • System will validate that the back office is unique for that kind of financial transaction type
    • If a back office code is not specified then
      • No validation is applied
• SAVE (POSTED)
  If the payment is created and posted at the same time then 
  
  • Life cycle state is set to posted
  • Posted date is set
  • Transaction number is set
  • Payment is allocated against any unallocated invoices based on the allocation principle specified in the active accounts receivable definition
  • Invoice Items sub amounts and total amounts are calculated
  • Back Office Code Validation - AVAILABLE FROM CRM.COM R9.0.0
    • If the back office code is specified then:
      • System will validate that the back office is unique for that kind of financial transaction type
    • If a back office code is not specified then
      • No validation is applied

Refund

• SAVE AS DRAFT
  • Life cycle state is set to draft
  • Issued date is set
  • Reference number is set
  • Invoice Items sub amounts and total amounts are calculated
  • Back Office Code Validation - AVAILABLE FROM CRM.COM R9.0.0
    • If the back office code is specified then:
      • System will validate that the back office is unique for that kind of financial transaction type
    • If a back office code is not specified then
      • No validation is applied
• SAVE (POSTED)
  If the refund is created and posted at the same time then 
  
  • Life cycle state is set to posted
  • Posted date is set
  • Transaction number is set
  • Invoice Items sub amounts and total amounts are calculated
  • Back Office Code Validation - AVAILABLE FROM CRM.COM R9.0.0
    • If the back office code is specified then:
      • System will validate that the back office is unique for that kind of financial transaction type
    • If a back office code is not specified then
      • No validation is applied