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An overview of invoicing

From: MYOB AccountRight 2013 Essential Training

Video: An overview of invoicing

Three types of sales transactions can be These transactions are entered through the sales command center. A quote enables us to record estimates of items or services. A quote does not impact stock levels and We use an order to record items or services An invoice can be created before or An open invoice in one that is not yet paid in full.

An overview of invoicing

Three types of sales transactions can be entered into AccountRight Live, quotes, orders and invoices. These transactions are entered through the sales command center. Before recording any sales transactions, let's understand the difference between the types. A quote enables us to record estimates of items or services. A quote does not impact stock levels and can be converted into an order or an invoice. We use an order to record items or services ordered by customers but not actually sold or completed.

If the order includes a deposit payment then a transaction will appear in the sales journal. An invoice can be created before or after the goods or services are actually delivered. Stock levels and accounts are updated when an invoice is entered, including the debtors account. An open invoice in one that is not yet paid in full. A closed invoice is one that has been paid in full. We can choose between five different sales layouts in AccountRight Live. Service, item, professional, time billing, and miscellaneous.

The sale layout chosen will be determined by the type of business. For example, manufacturing, retail, or service, and whether a printed invoice is required. Let us start by viewing the sales preferences.

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This video is part of

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MYOB AccountRight 2013 Essential Training

65 video lessons · 623 viewers

Elizabeth Haverfield
Author

 
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  1. 2m 40s
    1. Welcome
      43s
    2. The benefits of AccountRight Live in the cloud
      1m 57s
  2. 29m 5s
    1. Case study overview
      4m 30s
    2. Creating a company file
      4m 0s
    3. Opening an existing data file
      1m 25s
    4. Understanding libraries and where your data file is stored
      3m 20s
    5. Setting up user access and passwords
      4m 59s
    6. Setting up preferences
      3m 5s
    7. Navigating the MYOB AccountRight Command Centre
      4m 34s
    8. Setting up tax codes
      1m 38s
    9. Using the Help Centre
      1m 34s
  3. 17m 49s
    1. Designing the Accounts Lists
      2m 44s
    2. Changing account details
      3m 19s
    3. Creating an account
      1m 53s
    4. Moving accounts to different levels
      57s
    5. Deleting an account
      1m 19s
    6. Linking accounts
      3m 42s
    7. Entering account opening balances
      2m 50s
    8. Viewing and printing a Trial Balance report
      1m 5s
  4. 14m 12s
    1. Overview of cards
      1m 12s
    2. Adding customer cards
      6m 49s
    3. Adding supplier cards
      5m 2s
    4. Deleting cards
      1m 9s
  5. 6m 0s
    1. Searching and finding cards
      1m 49s
    2. Customer historical balances
      3m 30s
    3. Supplier historical balances
      41s
  6. 8m 28s
    1. An overview of reconciling
      1m 43s
    2. Preparing for initial bank reconciliation
      3m 49s
    3. Performing the initial bank reconciliation
      2m 56s
  7. 5m 25s
    1. The importance of backing up
      1m 18s
    2. Backing up a company data file
      1m 44s
    3. Restoring a company data file and closing a data file
      2m 23s
  8. 16m 29s
    1. Various ways of spending money
      1m 36s
    2. Banking preferences
      1m 50s
    3. Recording Spend Money transactions
      1m 54s
    4. Memorizing frequently used transactions
      3m 28s
    5. Recording bank charges
      3m 27s
    6. Viewing transactions
      4m 14s
  9. 26m 19s
    1. An overview of invoicing
      1m 27s
    2. Sales preferences
      3m 55s
    3. Creating service invoices
      8m 55s
    4. Creating service quotes and orders
      5m 14s
    5. Changing the status of sales
      4m 48s
    6. Viewing sales information
      2m 0s
  10. 9m 21s
    1. Ways of recording payments
      1m 5s
    2. How much do customers owe?
      1m 46s
    3. Recording full customer payments
      1m 30s
    4. Recording a partial customer payment
      1m 10s
    5. Reviewing customer payments
      2m 3s
    6. Customer statements
      1m 47s
  11. 20m 19s
    1. Types of purchase transactions
      1m 38s
    2. Purchase preferences
      3m 10s
    3. Entering purchase orders and converting them to bills
      4m 29s
    4. Recording bills to be paid
      2m 43s
    5. Viewing supplier balances
      2m 16s
    6. Paying bills
      3m 4s
    7. Sending remittance advices
      55s
    8. Finding purchase transactions
      2m 4s
  12. 4m 29s
    1. Recording cash sales
      2m 42s
    2. Viewing cash receipts
      1m 47s
  13. 12m 31s
    1. Why reconcile?
      1m 36s
    2. Preparing a bank deposit
      3m 32s
    3. Matching transactions, entering interest, and reconciling the account
      6m 2s
    4. Printing the reconciliation report
      1m 21s
  14. 7s
    1. Next steps
      7s

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