We sometime incur costs on behalf of our clients. I have therefore created a Disbursements nominal code in the Debtors range (1110). I wanted to be able to post both Purchase Invoices to this code (when we incur the costs) and Sales Invoices (when we bill to the client).
This was easy in Sage as you could post to any nominal code, however QuickFile limits the codes you can post to. In the past I have needed to post various things to alternate nominal codes, including Sales to Purchase Code as well as both sales and purchase to the balance sheet. I would hate to have to post a journal every time - particularly when many of the transactions are fairly small.
Is it possible to control which codes are available in the drop down lists? Perhaps a check box on the âEdit Nominalâ screen to toggle visibility in the Purchases and Sales lists.
On the purchase side any new nominal account you create in the balance sheet range (0-2999) will be available to your purchase invoices. The sales invoicing side at present is however restricted to just the 4000-4999 range of ledgers.
We are considering adding more flexibility here in the future, but Iâm afraid I donât have any fixed time-frame on when this will be looked at further.
EDIT:
I have updated this post to a feature request for now, so we can track going forward.
While youâre considering changes in the nominal accounts, could you please consider giving the option of renaming and/or deletion/hiding of unused nominals, to allow a bit more customisation (obviously keeping the lock on control accounts, etc) and to allow those of us with relatively simple but different needs to âthin downâ the chart of accounts?
Iâll secpmd MoKaPetteryâs request. Working with volunteers with no book keeping experience who are used to spreadsheets with a fixed set of columns I find that they go into panic mode when presented with a large number of options that they donât need.
Hi Glenn is this correct? I have just entered accounts 1121-1126 and 2121-2126 to account for accrued costs and deferred revenues, respectively, but I cannot see or select them when posting a purchase invoice?
I presume there has been no changes on the sales side where you can post directly to the balance sheet?
I notice that the âmoveâ transaction facility also does not allow items to be moved to the balance sheet - this means that the only way is via journal?
Weâve not had a chance to look at opening up the option for new BS codes to appear on sales invoices as yet. Although it is still something weâd like to address.
You can re-code certain postings made to the BS that are attributed to non-system codes. For example you should be able to re-code between those custom accounts you created. If you are having a problem elsewhere let me know.
EDIT:
@bostin weâve now added an option that you can access by clicking on the settings icon for a particular nominal account. This will now allow you to mark particular nominal codes as âPurchase codesâ, so they can then be utilised within the new purchase invoice screen.
Iâd like to add my vote to this - weâve started selling gift vouchers recently, which I track using a holding bank account (credit when vouchers are sold, debit when they are redeemed). I have a workaround which basically consists of logging a sales invoice for the whole amount of a dayâs sales including voucher sales, applying payments from the Z reading, then going back into the invoice and adding an extra negative line for the value of vouchers sold and ârefundingâ the âoverpaymentâ from the voucher holding account. But it would be much simpler and have a clearer audit trail if I could simply list the sale of vouchers as a normal positive line on the invoice posted directly as a credit transaction in the holding account.
We have now updated the system to allow asset nominal codes to be used within sales invoice as well as purchase invoices. You can apply this setting from the Chart of Accounts screen by clicking on the relevant settings icon (a small orange cog).
You can then post any of your sales invoice items to the balance sheet code.
This has been possible with purchase invoices for some time, weâve just extended it to also work with sales invoices. Hopefully this will allow for greater flexibility on the invoicing side without having to perform extra journals.
##Limitations
Some system codes (e.g. debtor, creditor and VAT control accounts) will be unavailable within sales and purchase invoices. This is due to the way QuickFile handles other accounting routines which depend on the integrity of the entries going in and out of these control accounts.
If I have a liability nominal like this on one of my invoice lines, will that line still count as âturnoverâ when doing a VAT return? In my use case, I should not count the sale of gift vouchers as VAT-able turnover, but instead I should count it when the voucher is spent. I suppose that as long as I put the vouchers in to my EPOS as zero rated there wonât be any VAT to pay but technically they shouldnât really figure in box 6 either.
Yes any items allocated to sales invoices (irrespective of the nominal code) will be included as part of your VATable turnover. Zero rating the item will ensure that no VAT is collected, although you are correct, they will still appear on box 6 unless you manually adjust out.
