Invoicing Concepts

The invoicing component in CAPITAL is designed to cover a range of sales and ordering scenarios. Different transaction types can be set-up in INSTALLATION Workshop. For details on changing the transaction type see Transaction Entry Solver.

The following are some of the different transaction types that can be used when invoicing:

Account Invoicing
Order/Invoicing
Lay-bys
Point of Sale Invoicing
Stock Transfers (Professional Edition)
Tax Adjustments (Credit Notes)
Cash Accounts Versus C.O.D. Transactions

Running a Cash Account is essentially a short-cut as you don't have to reconcile or balance a cash account. Every transaction is assumed fully paid, so a single transaction in fact serves the purpose of both an invoice and a cash receipt in a combined transaction.

A standard account with zero terms (a C.O.D.) is just a variation on a standard account with standard terms. The system assumes that you want the money right away, and will prompt for immediate payment. If no payment is forthcoming the payment is deferred, otherwise a separate payment transaction is generated by the system which is automatically linked to the initial invoice. Once the payment is created it has to be edited manually if you wish to change it. This is quite different from a cash transaction, but is similar in that it provides another form of short-cut. Unlike a cash transaction, however, in a C.O.D., the payment amount does not have to match the invoice total. It can be zero or even a part payment.

In order to create cash transactions you must designate a specific account as a cash type. The account code is usually also designated as "Cash".

In order to create a C.O.D. account you must enter zero (0) as the Terms of the account. The account type should be left set to Standard.

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