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Raising an invoice for Accounting

welcome back to another video I'm going to show you now how to raise invoices on Sage so if you want to use Sage to create invoices raise them perhaps email them or print them off for customers then you can't do that on this screen here the batch invoice feature will not create invoices for you it's just a feature to record the invoices on Sage so you need to go to modules at the top here here then go down to invoices and credits is the third option down on my Sage Software I'll click on that and the invoicing module will appear it's very blank at the moment because I haven't raised any invoices now to raise an invoice just simply click new invoice at the top here if you want to do a credit note then you can do that here so new invoice this box will appear which is basically just an invoice template so you can change the type up here invoice format is it a product you'll sell in or a service the template will change slightly depending if it's a product invoice or a service invoice put in the date of the invoice let's do today's date which is the 25th of the 4th 2017 you need to have your customer on Sage um you put in their account codee here so let's do the XY Z computers that we added okay the invoice number will be generated automatically but if you want to carry on an invoice number system that you've already started let's say you're an invoice 565 if you just put in 566 in the invoice number then the next invoice you do will be raised to 567 automatically then 568 569 570 and so forth you can put in an order number details so if you click here you can put in the invoice details let's say the service was on S maintenance of company computers so once that has been put in the details just tab across you can then put in the amount this is the net amount so let's say it was £1,500 tab across the vat will be added automatically um and so will the vat this will be posted to the 4,000 code and it's used in the t120 % tax code because that's the default for this customer XYZ computers if you want to change any of this information let's say this is going to be booked to a different sales code just click on this little arrow here that appears at the end of the details box and you'll have an edit item line box appear you can edit the details you can edit the cost the nominal code and the tax code so it's all pretty straightforward just click save and that will be saved on the system and you can see it appears at the back here so let's do AA now add a invoice so click no let's do a product this time of today's date let's use our other customer ABC Custom the number we will leave as Auto number so the next invoice will be 567 product code if you want to add them I'll cover product codes at a later time but you can enter product codes for products that you sell often it just saves you a bit of time it's kind of like a default line for a certain product but let's just put in S1 this box will appear you can put the description in the quantity let's say there was five of them and they were £50 each noral C 5,000 tax code is T1 that's fine click okay so have quantity of five at £50 each the net being 250 and then the vat on that is 50 just click save if you have a box appear saying the credit limit has been exceeded just click yes so that credit limit that we set for this customer which was 1,000 is actually being exceeded their balance is now £1,200 so Sage will let you know if credit limits have been reached so there's two invoices now on here 566 and 567 once your invoices have been raised you can double click on them and print them off if I go print layouts you can choose a layout that you like but I'll just preview this first one so this is the invoice and as mentioned previously this would be on headed paper or you can edit the invoice and any reports on Sage to show more information so you can print that off once you're happy with everything you then need to update the ledgers so currently if I go to the customer module these invoices that I've raised in the invoice module don't actually show yet so if I go to the activity tab they're not showing there's just that three original invoices that I entered using batch invoice I need to update the ledgers and post them to the accounts so I can go to module invoices and credits or go to the side here invoices and credits click on update ledgers click okay in the confirmation box and this invoice has now been posted let's highlight the next one and do that again great now in this column the posted column it says yes and yes it will just be blank if invoices haven't been posted so it's always worth just scanning through that just to make sure any invoices you've raised have been posted now if I go to the customer module you'll see that these balances have been updated and the invoices are now showing you'll also notice that ABC Custom is now shown in red because the credit limit that was set at £1,000 has has been exceeded so once again this is all pretty straightforward stuff pretty easy really you just need to practice and get to know the software but it's all pretty straightforward in the next video I will start looking at the supplier module