• joe
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Topic: Cash Sale Invoice. How to:

This is only for version up to 2.0.X. From 2.1 you DON'T set the AR account to a bank account, but you simply select Cash invoice in the selector Delayed / Cash in the Direct Invoice.

If you use cash sale invoices in your business, here are the guidelines for doing that (from release 2.0).

1. If you do not already have a cash account in your Bank Accounts, please create one (Banking and General Ledger tab).
2. If you do not already have a Payment Term that is set to Cash Only, please create one (Setup tab).
3. Create a Cash customer. Call him f.i. Cash Sales, select Retail sales and Cash Only in Payment terms. Leave other fields empty.
4. At the time create a customer branch. Also Cash Sales.
5. Enter relevant information.
6. Set the Accounts Receivable to your new cash Bank Account.
7. Leave the address fields empty or have a one liner info text.

Now you are ready to use your new Cash Sale.

1. Enter 'Direct Invoice' in Sales tab.
2. Select the Cash Sales customer. It will automatically choose the same branch.
3. Enter your item lines. You can use the address lines to enter your cash client info if you want to.
4. Process the Invoice.
5. Print out the invoice and give it to your client as a receipt.

What happens internally?
Instead of posting the GL to the normal Accounts Receivable account it would be debited to the cash account.
If this AR account is a bank account, the allocation will be set to the full amount, indicating the invoice as been settled. So it will never show upp in the allocation screens.

/Joe

BTW, You can do the same thing if this is a Cash Credit Note

  • From: Canada
  • Registered: 06/04/2008
  • Posts: 72

Re: Cash Sale Invoice. How to:

Hi Joe, I notice that with this case, the cash customer will always show balance in the aging and balance report. Also for foreign accounts after the invoice has been created and the AR is the bank account, the allocation of the full amount should take place but if this is the case then the exchange variance account should factor for the foreign gain/loss too no?

  • joe
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Re: Cash Sale Invoice. How to:

Yes, but the allocation is done immediately, so there should be no exchange variances.

/Joe

  • Registered: 08/18/2008
  • Posts: 18

Re: Cash Sale Invoice. How to:

Hi Joe,
The other thing I noticed was that while the debit is reflected correctly on the GL account, the bank account does not show the transaction! Any thoughts on solving that?

Thanks

Roger

  • joe
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Re: Cash Sale Invoice. How to:

The cash invoicing has changed in release 2.1. From 2.1 you simply select cash invoicing in the selector Cash / Delayed in Direct Invoice .

/Joe

  • Registered: 08/18/2008
  • Posts: 18

Re: Cash Sale Invoice. How to:

Hi Joe,
where is release 2.1 available? I can fin 2.06 only

Roger

  • joe
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Re: Cash Sale Invoice. How to:

Hello guys,
I understand that you are waiting for this wonderful release smile
We will ship release 2.1 Beta the first week in February on Sourceforge.net, so in 1-2 weeks. We just have to assemble various things.
But expect it do be a little buggy. But most of them have already been taken.

/Joe

  • Registered: 08/18/2008
  • Posts: 18

Re: Cash Sale Invoice. How to:

Great, I am really looking forward to it

Thanks

  • zedd
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  • From: Philippines, Davao
  • Registered: 03/23/2009
  • Posts: 33

Re: Cash Sale Invoice. How to:

i have problems in dealing with cash direct invoice. it says that i have no stocks available, in fact i have available.

i can do direct delivery, but not direct invoice. i have 3 locations, all of the have sufficient stocks.

  • Registered: 07/09/2012
  • Posts: 5

Re: Cash Sale Invoice. How to:

Hi,
I am using version 2.3.11

When trying to process a cash sale:
-  i use the direct invoice option
- there is no "Cash Invoice" in the selector Delayed / Cash in Direct Payment.

If I try set up a cash customer, i am not able to set AR to a bank account, making a true cash sale impossible.

Is there somewhere else i should be looking when setting up?

  • Registered: 12/25/2007
  • Posts: 2,446

Re: Cash Sale Invoice. How to:

Cash sales terms selection is blocked, when POS related to your user record does not allow for cash transactions.
Janusz

  • Registered: 07/09/2012
  • Posts: 5

Re: Cash Sale Invoice. How to:

what does that mean and how does one "unblock" it?

  • Registered: 03/16/2010
  • Posts: 4

Re: Cash Sale Invoice. How to:

Dear joe,
Thanks for all your help. In cash Sale Invoice or (Sales Quotation Entry, Sales Order Entry, Direct Delivery ,Direct Invoice ), I want to block "Deliver from Location:" for user I set up. How can I do?
I create 3 users, I assign to 3 Locations. When user login, "Deliver from Location:" is assigned for him. But I don't want them edit or change.
Can you help me. I don't want salesman of this Location sell products from other location.
Thanks so much!

14 Reply by Ean (edited by Ean 07/12/2013 09:32:17 am)

  • Ean
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  • Registered: 07/12/2013
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Re: Cash Sale Invoice. How to:

Most of my customers pay by cheque or Telegraphic transfer or by credit card and I would prefer to input deposit when actual amount is received. I have set my customers payment terms to cash but as soon as an invoice is issued the payment goes to my Cash account in GL. Is it possible to select Delayed / Cash?

  • bryan
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  • Registered: 01/21/2016
  • Posts: 6

Re: Cash Sale Invoice. How to:

I am currently using v2.3.24.

"6. Set the Accounts Receivable to your new cash Bank Account."

However, my cash Bank Account is not one of the options available in Accounts Receivable Account:

Only (i) 1060 Checking Account (ii) 1200 Accounts Receivable (iii) 1205 Allowance for doubtful Accounts
are available in drop-down list of pre-defined options.

Please help

  • joe
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Re: Cash Sale Invoice. How to:

you must first create a GL account to be used for the Bank Account.

/Joe

  • bryan
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  • Registered: 01/21/2016
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Re: Cash Sale Invoice. How to:

That was done. The cash account (and some other accounts I created) is found in the other three drop-down list, but not in Accounts Receivable Account.
ie.

Sales Account: (found)
Sales Discount Account: (found)
Accounts Receivable Account: (not found)
Prompt Payment Discount Account: (found)

  • bryan
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  • Registered: 01/21/2016
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Re: Cash Sale Invoice. How to:

I tried it on a new installation with similar results.

  • bryan
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  • Registered: 01/21/2016
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Re: Cash Sale Invoice. How to:

Got it.

joe wrote:

From 2.1 you DON'T set the AR account to a bank account, but you simply select Cash invoice in the selector Delayed / Cash in the Direct Invoice.

20 Reply by drgrumpy (edited by drgrumpy 12/22/2017 09:25:47 pm)

  • From: UK
  • Registered: 12/20/2016
  • Posts: 35

Re: Cash Sale Invoice. How to:

Using 2.4 followed above instructions, but generates redundant entries in the account that is set as the AR account:

e.g.
Customer = Cash, Branch = Cash
AR is selected as debtors control (as noted above can't select Petty Cash)

Result:
dr petty cash
cr sales account
dr debtors control
cr debtors control

Seems to me the two entries in debtors are completely redundant

drgrumpy's Website

  • From: Singapore, India, Chennai
  • Registered: 05/02/2009
  • Posts: 6,089

Re: Cash Sale Invoice. How to:

The concept here is that the GL Account for Cash is different from the Customer Cash Account where all cash customers get billed. Since it is immediate cash, the tracking of Accounts Receivable is not necessary but needed for turnover / transaction listing.

apmuthu's Website

  • From: UK
  • Registered: 12/20/2016
  • Posts: 35

Re: Cash Sale Invoice. How to:

Thanks  for responding apmuthu..., it seems you are following me around the forum !

So if I understand correctly - you are saying I should be setting up another 'cash sales' account and setting this as the AR ? but then to me I will still get redundant entries.... and I can track turnover from the income account for the service provided (or goods supplied).

drgrumpy's Website

  • From: Singapore, India, Chennai
  • Registered: 05/02/2009
  • Posts: 6,089

Re: Cash Sale Invoice. How to:

They are not redundant entries. They only appear so because they are named so. The customer is a different entity and the payment receipts go into a bankable account.

Following every unique assist request will help avoid requests in future on similar lines and fill the self service knowledgebase. It may also throw up errors or suggest improvements that will benefit the community at large when settled.

apmuthu's Website

  • From: UK
  • Registered: 12/20/2016
  • Posts: 35

Re: Cash Sale Invoice. How to:

Sorry to keep asking but I am still not clear (I want to make sure I follow the correct process to avoid issues later):

Should I be setting up another 'cash sales' asset account (separate from the petty cash 'bank account') and setting this as the AR ?

P.S. That wasn't a complaint about following me ! I am grateful. :-)

drgrumpy's Website

  • From: Singapore, India, Chennai
  • Registered: 05/02/2009
  • Posts: 6,089

Re: Cash Sale Invoice. How to:

Yes. Only then can you track all such transactions separately.

If someone comes to the shop and buys on cash sale and you prepare a cash invoice and then he says I'll pay you in the evening and if he does or doesn't - it will only be remembered in your mind (or in the memo field) till then!

apmuthu's Website