If you sell stock items to your debtors (customers) you need to enter the transactions in the Input→Documents→Invoices→Enter menu option, and not in the Input→Batch Entry menu option. In this menu option, you may create new Invoices, which is a source document that is handed or sent to the customer, documenting the sales transaction. Invoices are automatically created when:

• Quotes have been confirmed and converted to an Invoice in the Input→Documents→Confirm menu option, or;
• Invoices may also be copied from the Invoice history in the Edit→Repeating Invoices menu option.

- These Invoices, including the newly created Invoices, may be edited, before they are updated (posted) to the ledger.

- You need to check that Invoices are correct (stock items, quantities, pricing, discounts, etc.), before they are updated (posted) to the ledger. Once Invoices are updated (posted) to the ledger, and there are any errors on the Invoices, you will need to process a Credit Note to correct any incorrect entries on the posted or updated Invoice.

- Cost Prices - Latest Cost (FIFO) or Average Cost:


Before you start to process and update any Invoices or other documents, you need to carefully plan and decide if you should use the latest cost or average cost method. This will drastically influence your gross profit (Sales less Cost of Sales), and consequently the net profit. If you are not sure which method to select, consult with your accountant.

TurboCASH defaults to an average costing basis. This means that if, when purchasing a stock item, the cost price has changed from the price you last specified, simply enter the new cost price. TurboCASH will then average the cost price for you (e.g. if you buy an apple for 1.00 today and tomorrow you buy another apple for 1.50, TurboCASH will calculate the average cost price to be 1.25 per apple).

If you wish to use the latest cost price, instead of the average cost price, you need to select the Latest Cost (Cost of Sales) in the Setup→System Parameters→Stock Information (Use Cost of Sales) menu option.

If you do not select Cost of Sales, TurboCASH will not update your cost of sales account, and you will not be able to view the gross profit (Sales less Cost of Sales) on your sales transactions. If no cost prices are reflected in the latest or average cost for your stock items, the Cost of Sales Account will be updated with a zero value.

- Quotes cannot be posted of updated to the ledger. Quotes must be confirmed and converted to an Invoice in the Input→Documents→Confirm menu option, if the Quote is accepted. Once the Quote has been converted to an Invoice, you may also edit the Invoice and update (post) the Invoice to the ledger.

- Should there be any discrepancies on the Quote, or the customer changes his / her mind (e.g. want more or less quantities of a stock item, does not want a stock item but wants something else instead), you may edit the Quote, and confirm or convert the Quote to an Invoice.

To Create or Edit an Invoice:

1. To access Invoices directly: You may also click on the Invoice icon.
   - Keyboard Access: Press the Spacebar, or press the F6 key on your keyboard. Alternatively, press the Alt+I+D+I+E keys on your keyboard.
   To access Invoices indirectly: Click on the down arrow of the Invoice icon, and select Invoices from the Sales Documents list.
   The Document Selection screen will be displayed. Select Invoice in the Documents field, if Invoice is not displayed.
   
   - If you create a new Invoice for the first time, no documents will be listed.
   
   - Once any documents have been created for the debtor (customer), the documents will be listed. You may then select a document (if not already updated (posted) to the ledger), and click on the Edit button to edit it, if necessary. You then need to proceed to step 5.
   
2. Click on the New button. The Debtor Accounts screen is displayed:
   
   
3. Select the Debtor Account for which you need to create the Invoice.
4. Click on the New button. The Invoice screen will be displayed for the selected Debtor Account.
   
   
5. Check that the correct Debtor (Customer) account is displayed in the title bar, as well as in the left bottom corner of the Invoice screen.
   - It is also advisable to check that the available balance on the credit facilities is sufficient to accommodate this Invoice. If this Invoice will exceed the credit limit, you may need to inform the debtor to make a payment before selling additional items on this Invoice. You may also wish to revise the debtors credit limit.
   - If you have selected an existing Invoice, the details of the transactions will be displayed. You may add any new items, comments, change selling prices, select stock items and edit the quantities and discounts.
   
   
6. The document number for a new Invoice will be displayed as NEW. TurboCASH will generate the Invoice number, once the Invoice is created.
   - If you select to edit the Invoice the Invoice number for the selected Invoice will be displayed. If you have selected to edit an Invoice, please check that the correct selected Invoice number is displayed.
   
   
7. Select and / or enter the applicable information for the transactions and / or comments in the following fields, if necessary:
   1. Your Reference - Enter the reference number as supplied by your Debtor, if available.
   2. Salesperson - The salesperson allocated on the Edit→Accounts→Debtor (General Information tab), or the salesperson selected on a Quote (converted to an Invoice), or selected on a previous Invoice, will be displayed. If no Salesperson has been allocated to the specific Debtor, unallocated should be displayed.
      You may also select any available Salesperson, added in the Setup→System Parameters→Salesperson menu option.
   3. Document Group 1 / Document Group 2 - You may select any of the available Document Reporting Groups, which you have created in the Setup→System Parameters→Groups menu option.
   4. Date - The current date in your system should be displayed. You may enter any other valid date, or select a date using the date picker.
      - If an existing Invoice is selected to be edited, or if an Invoice converted from a Quote is selected to be edited, the date when the selected Invoice was created, or the date when the selected Invoice was converted from a Quote, will be displayed. In the case of repeating Invoices, the date selected for Repeating Invoices will be displayed.
   5. Due Date - The due date will automatically be calculated by TurboCASH as the number of days entered in the Due Days field of the Edit→Accounts→Debtor (Accounting Information tab). If this field is left blank for the Debtor Account, or a value of (zero) 0 is entered, this due date will be the same as the date of the document.
   6. Postal Address - The address as entered on the Edit→Accounts→Debtor (General Information tab) for the specific Debtor will be displayed.
   7. Delivery Address - The address as entered on the Edit→Accounts→Debtor (Statements tab) for the specific Debtor will be displayed. You may also enter or over type the address in this field, if the delivery address is different.
   8. Message - The message you have entered in the Setup→System Parameters→Documents (Invoices tab) menu option will be displayed. You may enter or over type this message with another message for this specific Invoice.
      - The Quote Number will be displayed as a reference in the last (third) line of the message field, if a Quote is confirmed and converted to the Invoice.
      
      
8. Select the applicable Stock Item, or Service Item, from the Stock Item lookup facility, and TurboCASH will automatically display the Item No., Description and Unit Amount in the applicable fields.
9. Enter the Quantity in the Ship fields.
   - TurboCASH will automatically calculate the amount for the number of items entered on the line. If you are registered for VAT/GST/Sales Tax, and VAT/GST/Sales Tax is applicable to the transactions, remember to check that the amounts reflect inclusive or exclusive of VAT/GST/Sales Tax correctly.
10. When the cursor is in the Unit Amount field, the following screen, reflecting your three selling prices, is displayed:
    
    - If you use three different selling prices, the default selling price 1, 2 or 3 as selected on the Edit→Accounts→Debtor (Accounting Information tab) will be selected. You may select any other available selling price, for this Invoice, if you wish.
11. Check that the prices and discounts (if any) are correct.
    - If you have entered any percentage for Customer Discount on the Edit→Accounts→Debtor (Accounting Information tab), and the Apply Invoice Discount field is selected on the Edit→Stock Items menu option for the selected stock item, the customer discount percentage for the selected debtor account will be displayed.
    You may over type the discount with a (zero) 0 percentage, if you do not wish to allow discount for this transaction. If you wish to grant a lower percentage or higher percentage of discount, you may over type the percentage with the percentage of discount you wish to allow.
12. When you are finished with the Invoice, click on the OK button. The following confirmation message is displayed (if you did not select (ticked) the No Confirm print option (tick box) on the Setup→System Parameters→Stock Information menu option):
    
    
13. Click on the Yes button to print the document. The document will be printed to the output method, as displayed on the Document Selection screen.
    - If you click on the No button on the confirmation screen, you may print the Invoice later in the Input→Documents→Print menu option, the Document Selection screen, or on the Documents tab of the Edit→Accounts→Debtor menu option.
    - You may also re-print the Invoice, whether it is updated (posted) to the ledger or not, provided that the Invoice is not deleted.
    
    
14. You may proceed to create or edit another Invoice or another document, or you may click on the Close button on the Document Selection screen to close or exit the Documents facility.
    - You may need to use the speed buttons (icons) on the Document Entry screen to delete a transaction, insert a transaction, insert a comment, delete all the transactions in the Invoice.
    
    - Once the Invoice is correct, you may update (post) the Invoice to the ledger.
    
    - If an Invoice is for some reason issued incorrectly, you may delete the Invoice in the Edit→Delete→Documents menu option.

Invoices may be printed when you have finished creating and editing an Invoice in the Documents facility, in the Input→Documents→Print menu option or on the Documents tab of the Edit→Accounts→Debtor menu option. Printed Invoices may be edited, provided that they have not yet been updated (posted) to the ledger in the Input→Update Ledger menu option.

An example of a printed Invoice, based on the default layout file, is as follows:

- The presentation and layout of the Invoice may differ, if you have selected your own or any other layout file in the Document Selection screen, or on the Input→Documents→Print menu option.

- You may also select to print the company logo, instead of your address, on Invoices. If you select to print your company logo, make sure that your address and contact numbers are included in your logo.

Invoices consist basically of three sections, i.e. the heading, transaction details and the footer.

1. Header section - contains the details of your business, the postal and delivery addresses (if delivery address was entered) of the debtor (customer), the document number, date, number of pages, Tax reference number, and the reference number of the creditor for the transaction, and account number. The Exemption Reference number is the Tax number as entered on the Edit→Accounts→Debtor (Accounting Information tab).
2. Transaction section - contains the details of the transactions as selected, entered and edited in the Document Entry screen.
   It displays the code and description of the stock items invoiced, any comments, any discounts, etc. If you are registered as a VAT/GST/Sales Tax vendor, and you have selected a Tax code, the VAT/GST/Sales Tax amounts for each item (Exclusive amount, Tax amount and the Inclusive amount), will be displayed.
   Finally the total for all the transactions is displayed at the end of this section.
3. Footer section - contains the message as entered on the Setup→System Parameters→Documents (Invoices tab) menu option and the Company and Tax registration numbers, if entered on the Setup→System Parameters→Company Info (Address tab) menu option. This section also includes a place for the name and signature of the person who accepts the Invoice, and the date on which the Invoice is accepted.

- The Quote Number will be displayed as a reference in the last (third) line of the message field, if a Quote is confirmed and converted to the Invoice.

- If an Invoice have been updated (posted) to the ledger, you need to create a Credit Note to reverse or cancel the incorrect entries on the Invoice.

Documents may be updated (posted) as follows:

• Input→Update Ledger menu option.
• Auto-post documents on print (To use this feature, you need to select it in the Setup→System Parameters→Documents menu option.)

When Invoices are updated (posted) to the ledger, it will automatically generate the Batch (Journal) transactions in the Batch Type selected on the Setup→System Parameters→Documents (Invoices tab) menu option. It will automatically create transactions in the following accounts:

1. Debtor’s Ledger (full total of the document - Including VAT/GST/Sales Tax)
   
   - It will -
   
   - Create the debit transaction in the individual Debtor Account for the full total (including VAT/GST/Sales Tax).
   
   • Update the credit limit (current balance and available balance) for the individual Debtor Account.
   • Update the Debtor’s Control Account in the General Ledger.
2. Sales Account (Selling Price - VAT/GST/Sales Tax Excluded)
   
   - It will create the credit transaction in the Sales Account for the selling price (excluding VAT/GST/Sales Tax). If you have selected more than one stock item, it will display the total for all stock items (quantity x selling price).
   
   
   
3. VAT/GST/Sales Tax - Accounts
   
   It will
   
   
   
   • Create the credit transaction for the VAT/GST/Sales Tax in the VAT/GST/Sales Tax Account or Tax Code.
   • Update the VAT/GST/Sales Tax Control Account.
4. Cost of Sales - Cost Price Transactions
   
   
   - It will -
   
   
   • Create a debit transaction to the Cost of Sales Account.
   • Create a credit transaction to the Stock Control Account.
   • Update all Stock Reports (Activity, Back-Order, Re-Order, Movement Summary and Listing).

Debits - Debtor’s Ledger = Credits - Sales and Output Tax Accounts
Debits - Cost of Sales Account = Credits - Stock Control Account

- The quantities on hand for the individual stock items will automatically be updated, when the stock item is selected on the document.