1 Reply by bailey86

(31 replies, posted in Accounts Receivable)

So - recurring invoices in advance.  How's this for a plan.

A tick box is added so that a recurring invoice is marked as being in advance.  Then, in create_recurrent_invoices.php the message which is added to the comments depends on whether the tick box has been ticked or not.  In arrears should show:

$doc->Comments .= sprintf(_("Recurrent Invoice covers period %s - %s."), $from, add_days($to, -1));

in advance should show:

$doc->Comments .= sprintf(_("Recurrent Invoice covers period from %s."), $to);

with hopefully the end date of the period being worked out as well.

Cheers,

Kevin

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2 Topic by bailey86

(4 replies, posted in Report Bugs here)

In the notes/wiki it says about setting days to -1 to get pas day of previous month - I don't see this working at all.

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3 Topic by bailey86

(1 replies, posted in Report Bugs here)

1.  If you fill in both days and months when setting up the recurrng transaction they will both be added to the Last date when an invoice is created - looks a bit odd odd.


$to = add_months($from, $myrow['monthly']);
$to = add_days($to, $myrow['days']);

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4 Reply by bailey86

(31 replies, posted in Accounts Receivable)

OK.

Recurring invoices.  Breath deep, breath deep...

They are set up to generate regular invoices - and these can be every certain number of days - or every certain number of months.

The 'Last Created' date is the key one here - badly named probably - it should be 'first day of next period to be charged'.  It sets the date for the beginning of the 'period' being charged for.

When opening the recurring invoice page is opened FA looks through the recurring transactions - and looks at the Last Created date.  It then adds the number of months or days to the Last Created date.  If the current (today's date) is greater than what has been calculated then the system says - 'ha!  I have to create an invoice'.

An invoice is then created (by clicking the button) with the current (today's) date as the invoice date - the 'Recurrent invoice covers period' set to show the period  from the Last created date - it then adds the period months/days to the Last created date - and then outputs that date minus one day.

This is so that if you have 1st Feb - and it's a monthly transaction - the end date of the covered period is not 1st March - but 28th (or 29th possibly) of Feb.  The Last Created date gets reset to the Last date plus the period - i.e. 1st March - and this makes sense again because it is the first day of the next period to be charged.

OK - so pretty much FA is set up to always generate invoices in arrears. 

We need to charge in advance - and this is the only simple/easy way I've seen how to do this.

In create_recurrent_invoices.php there is a line which has:

$doc->Comments .= sprintf(_("Recurrent Invoice covers period %s - %s."), $from, add_days($to, -1));

In our install this is changed to:

$doc->Comments .= sprintf(_("\nRecurrent Invoice covers period from %s."), $to);

and this indicates that the period is being charged in advance.

I'm sure there must be a more comprehensive way to do this - but it may get messy as recurring invoices would need to be set up to indicate whether they are in arrears or in advance.  It may be a global setting might be the way forward.

BTW - there are two buggy looking bit I saw.

1.  If you fill in both days and months when setting up the recurrng transaction they will both be added to the Last date - all looks odd.

2. In the notes/wiki it says about setting days to -1 to get last day of previous month - I don't see this working at all.

HTH

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5 Topic by bailey86

(2 replies, posted in Accounts Receivable)

This has probably been asked before but...

We're looking to have the 'Recurrent invoices covers period' to show dates in the future.  I.e. if we send out an invoice on 1st April 2015 we would like the period to show 1st April 2015 to 30th March 2016.

Is this possible on the current version of FA?  We're running 2.3.24.

It may be that we can remove the 'Recurrent invoices covers period' line from the invoices/templates - and just add to the invoice/template in the comment that 'This invoice is to cover the period from the invoice date onwards." or something similar.

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6 Topic by bailey86

(3 replies, posted in Banking and General Ledger)

Hiya,

OK - so we receive a cheque and pay it in with a bunch of other cheques from other clients.

So, this shows up as a credit on the statement and so we mark the invoice as having been paid.

Then we get another statement a couple of days later which takes the funds back out of our account and says that the cheque has bounced.

Obviously, the first statement is nicely reconciled - what is the best way to handle this scenario.  The invoice needs to show that it is still due - and we need to be able to handle a new cheque being sent which clears the invoice.

Thanks,

Kev

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7 Topic by bailey86

(0 replies, posted in Banking and General Ledger)

Hi,

Seems a simple problem - we have entered payements as usual - but for August 2013 the entried are not showing on the reconciliation screen.

Any ideas of why or why not the payements would not be on the reconciliation list would be gratefully received.

Thanks,

Kevin B

Go to forum: Banking and General Ledger

8 Reply by bailey86

(1 replies, posted in Wish List)

Has this been answered with https://frontaccounting.com/punbb/viewtopic.php?id=4042

Has anyone in the UK tested the extension - and how easy is it to sort out the liabilities etc.

Cheers,

bailey86

Go to forum: Wish List

9 Reply by bailey86

(27 replies, posted in Banking and General Ledger)

Has this been answered with https://frontaccounting.com/punbb/viewtopic.php?id=4042

Has anyone in the UK tested the extension - and how easy is it to sort out the liabilities etc.

Cheers,

bailey86

Go to forum: Banking and General Ledger

10 Topic by bailey86

(1 replies, posted in Wish List)

In the UK businesses can register for 'Cash Based' VAT.  Basically this means that businesses only pay VAT on payments received and payments made.

It can get pretty complicated and I'm sure that if someone had thought it through properly in the first place it would not have been created - but we're stuck with it for now.

There is a discussion about this at:

https://frontaccounting.com/punbb/viewtopic.php?id=1119

I would say that the suggestion on the post at https://frontaccounting.com/punbb/viewtopic.php?pid=9091#p9091 is fairly close to how the data can be extracted.

At the end of the day - all payments against sales/purchase invoices which have VAT applied should be reported in the report.  How the liability is added should be set out in the wiki somewhere.

By being able to use FA for cash based VAT should open it up to a much wider market in the UK (and other countries like Austrlia) especially to the SME market.

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11 Reply by bailey86

(5 replies, posted in Reporting)

Thanks for the fix.

Please note that also the message output is not quite correct - but the emails are being sent out OK.

The message has the first letter put in front of the email address - for example:

'INVOICE 2004 has been sent by email to destination. Email: a abailey@example.com'

Cheers,

Kevin B

Go to forum: Reporting

12 Topic by bailey86

(0 replies, posted in Accounts Payable)

Under 'Purchases' - 'Supplier Transaction Enquiry' and choose 'Overdue Invoices' from the dropdown.

On our system the list of invoices shown includes invoices which have been paid.  Our thinking is that paid invoices should not be listed.

Also, as a Brucie bonus, could we possibly add in a column for 'Amount Outstanding' so we can easily see what is left to be paid on invoices which have been part paid?

Cheers,

Kevin B

Go to forum: Accounts Payable

13 Reply by bailey86

(20 replies, posted in Reporting)

Just to be clear...

We pull the Supplier Balances report out as a spreadsheet.  Then go down the 'Charges' column and delete all 'Totals' and 'Open Balances'.  Then get the spreadsheet to total up the invoices in that column.

We then look for all the Credit notes (which are in the Credits column) and total them up.  These are then deducted from the invoices total.

In the UK we also need to deduct any invoices which are generated from suppliers who are outside the EU.

Lastly - IMPORTANTLY - we then deduct the VAT on purchases (from the tax report) from the total.  This then gives us the amount which is suitable for Box 7.

NB - for this to be correct all purchase transactions which should be in box 7 should be entered under the Purchases section via a supplier.  This would include bank charges, rent etc.  All transactions which should NOT be in the VAT purchases total (MOT, Local authority charges, bridge tolls, etc) should be entered directly as GL transactions - this means they will not show in the total for the Supplier Balances report.

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14 Reply by bailey86

(20 replies, posted in Reporting)

What would be nice is either:

1. On the Sales side we have a Sales Summary Report.  It would be great if we had the equivalent on the Purchases side.  This would give us a total of the purchases.

What I have done is put all of the purchases which should be in the UK VAT Box 7 on the Purchase ledger (includes Bank charges, rent etc).  Anything which should not be in Box 7 (Road tolls, MOT payment etc) goes on as GL transactions.

That way the total of the Purchases report would be fine for us.

2. On the tax report have the following option.

'Include all purchase invoices (including ones with no VAT) in the Outputs/Inputs.


Currently we are pulling out the Supplier Balances report, going through all the listings and totally up the invoices and deducting credit notes and IMPORTANTLY deducting the VAT from the total - this gets us the Purchases total for Box 7.

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15 Reply by bailey86

(20 replies, posted in Reporting)

Currently the only way I've found is this.

Pull up a Supplier balances report for all suppliers and all currencies.

Go through the whole report and mark all the transactions which are invoices - and mark all credit notes.

Total up all the invoices.  This may not be too bad - the total for charges should just about be correct - may need a couple of adjustments.

Total up all the credit notes.

Deduct the credit notes form the invoice total.

THEN IMPORTANTLY.

Deduct the VAT on purchases as worked out in the tax report.

You should then have the total purchases without VAT for box 7.


NB - VERY IMPORTANT ALSO.

This method assumes that you have all your transactions which should be added up for box 7 as supplier invoices.  So, for example, you should put your bank charges as supplier invoices as they should be totalled into box 7.  Box 7 should contain all VATable, zero rated and exempt transactions.  All transactions which are 'outside scope' (bridge tolls, MOT charges) should be entered as general ledger transactions so they don't get included in the Suppliers balances report.

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16 Reply by bailey86

(20 replies, posted in Reporting)

Tried this and it didn't seem to work.

All the non-vat suppliers were already in a group called NON-VAT.  I added a 0% tax and added it to that group but it looks like the total is still coming out with the non vat transactions missing.

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17 Reply by bailey86

(20 replies, posted in Reporting)

Ahh...

So are you saying that the amount which is in the Outputs/Inputs for taxes paid only includes the amounts from suppliers who have a TaxType set?

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18 Topic by bailey86

(20 replies, posted in Reporting)

Hi,

Could someone advise me RE getting the total for the UK VAT return box 7?

I think the best way currently is to get a Supplier Balances report to get the purchases total - and then deduct the VAT paid from the VAT report.

The only problem is that this is not correct if there are any credit notes etc.

Or is there anyway to get the Tax Inquiry report to include transactions which do not have any VAT on them?

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19 Reply by bailey86

(1 replies, posted in Accounts Payable)

To respond to my own post...

It looks like the closest to what we need is the 'Supplier Balances' report.  This has everything in there including the payments but can be output as a spreadsheet for further processing.

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20 Topic by bailey86

(1 replies, posted in Accounts Payable)

Hi,

I'm looking for a transaction report which shows all the supplier transactions in a single report.  Ideally it would have columns showing net, vat and gross amounts for the transactions.

Does anyone have such a report or any SQL which will produce this sort of report?

Thanks,

Kevin B

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21 Topic by bailey86

(20 replies, posted in Accounts Payable)

Hi,

Say we buy something for £100.00.  A supplier invoice is raised - and a payment is created and allocated to the invoice.

Say the we find out much later that the supplier has made a mistake - and we're due to get a refund of half the amount. 

So - they send us a credit note for £50.00.

They also put the £50.00 back in our bank account.

Am I right in thinking that we enter the deposit from the 'Banking and General Ledger' screen via 'Deposits'? This seems to work well as the payment can then be allocated to the credit note via 'Purchases' and 'Allocate Supplier Payments or Credit Notes'.

It might be worth flagging up in the wiki as we can't enter a negative supplier payment in the 'Purchases' - 'Payments to suppliers'.  So a bank deposit is the only way to do it.

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22 Reply by bailey86

(3 replies, posted in Accounts Payable)

After consulting with our accountant this is what she wants us to do.

Under payments.  Leave them on the system and then later they will be dealt with as bad debts.  Of course we could put in a small petty cash payment to clear any little underpayments to keep our books tidy.

Overpayments.

These are not supposed to be allowed.  This is due to money laundering rules.  These should stay on the accounts and be moved forward year to year.

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23 Reply by bailey86

(5 replies, posted in Accounts Receivable)

I've tried to replicate what our admin did - but can't recreate the same problem.

Will look carefully at what you are suggesting to delete and will feedback the results.

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24 Reply by bailey86

(2 replies, posted in Banking and General Ledger)

They seem to still be in the system.  E.g a voided payment will still list under the reconciliation screen - although it can be ticked and therefore reconciled out.

Also, voiding an invoice which has a payment allocated will de-allocate the payment.

I was hoping we could get some details on how voiding worked and then add them to the wiki.

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25 Reply by bailey86

(18 replies, posted in FA Modifications)

OK - this is where we've gotten to.

A couple of points were clarified by our accountant.

RE over/under payments.

If there is an underpayment then it should be treated as a bad debt and accounted for as such.  It is actually tax deductable.  Of course, you can pay the outstanding amount with petty cash if you want to tidy up the accounts and clear out the aged debtors etc.

Overpayments are not allowed due to money laundering rules.  They need to be kept on the accounts and carried over from year to year.  Of course, if you do any further work for that client you can deduct the overpayment from the amount they owe.

RE Foreign currency transactions.

Overpayments or under payments need to be handled as foreign exchange gains or losses.  Therefore, we are going to get the rate right.

Say we're using GBP - here's are procedure for adding an invoice and payment for an invoice we have received in a foreign currency (EUR) and where the payment was made after the invoice.

Look up on the bank system or statement to see the actual amount in GBP which was used to pay the invoice.

Divide the amount paid by the amount in EUR on the invoice.  This gives us the exact rate which was used by the bank when making the payment.  Write this amount down.

Look up online the exchange rate for the date of the invoice.  Add this into the exchange rate table under 'Banking and General ledger'.

Enter the invoice.

(At this point we're all fine - invoice has been added and the system has worked out the equivalent in GBP which has been added to expenses).

Enter a payment - and overwrite the exchange rate with the calculated exchange rate.

Then allocate the payment - the amounts should match.

NB - it might be an idea to switch rates to six decimal places to get a better response.

If the calculated amount is wrong then void the payment and add a new one with a slightly tweaked rate.  Then use the new payment to pay the invoice.

The voided payment can be cleaned out from reconciliation by ticking the (voided) transaction when reconciling the next statement.

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