When you create a new company, you do not necessarily have to add the company details at the same time. However, if you are going to be printing invoices for your customers, it is advisable to add your details since Accounting uses these details on the documents.
You can edit your company details by clicking on the Company Settings (Gear Icon) link at the top of the page or go to Company…Change Company Settings.
If you do not want to use your registered email address for communication purposes, enter an alternative email address and check the Use this Email for Communication check box.
The Company Settings screen has the following tabs:
- Company Details
- General Settings
- GST Settings
- Documents and Statements
- User Defined Fields
- Email Signatures
The Company Details tab has the following sections:
- Company Details
- Additional Company Information
- Customer Zone
- Online Payment Gateways
Company Details Section
This section allows you to enter your company contact information, postal address, physical address or other company details.
Additional Company Information Section
In this section, you will add your company registration, tax registration details and entity type.
Customer Zone Section
In this section, check the “Enable your Accounting Customer Zone” check box. This will allow your customers to view invoices and make payments online by clicking a link in their email.
Online Payment Gateways Section
In this section you will set up your Accounting account to accept credit cards so that your customers can pay you online. You will get paid faster and payments will be automatically reconciled next time you import your bank statement.
Click on the Add Payment Gateway button to add your payment gateway. Please request documentation on adding an Online Payment Gateway from the Support Team.
The General Settings tab has the following sections:
- Financial Years
- Regional Settings
- Customer and Supplier Settings
- Item Settings
- Outstanding Balances
Financial Years Section
Here you will select the year that you are working in. The current year will be selected by default for you.
Your financial year will usually be set for you by your local GST authority or company registrar. Check with your accountant on the dates for your financial year end.
You are able to add or remove financial years by clicking on the or buttons on each year. You can also edit the start year and end year dates by clicking in the date fields. Bear in mind though that the year end date and the next year start date must be consecutive dates.
Setting a Lockdown Date means that no transaction can be processed or edited with a date up to and including this date.
Select the check box and enter the date when transactions cannot be processed.
In the Rounding section, you can select a rounding system for your customer invoices. You can select one of the following:
- Round up – always round up;
- Round down – always round down;
- Normal rounding – round either up or down to the closest value as set; or
- No rounding – do not round values at all.
The value that you set in the Round To Nearest field is in cents.
Regional Settings Section
In the Regional Settings section, you will select the options that you want to use in your company. You can set how many decimal places you want to use in your stock quantities and for your prices. You can also change your currency symbol if need be. This tab is also where you can set the way in which your date displays. The options that you have are displayed in the screen shot below.
Customer and Supplier Settings Section
You can set Accounting to warn you when item quantities fall below zero. The system can also:
- Warn when duplicate Customer References are used on Customer Invoices
- Warn when duplicate Supplier Invoice numbers are used on Supplier Invoices
- Display inactive Customers for selection when processing
- Display inactive Suppliers for selection when processing
Item Settings Section
You can also create unlimited price lists in Accounting.
When you create items, you can link them to all the price lists that you have set up. You can give each price list a unique name. For example, you could have a trade price, a retail price and a distributor price. Accounting also lets you assign a default price list per customer.
You are also able to copy your selling prices from one price list to another by using the Adjust Item Selling Prices wizard on the Items menu.
To add a new price list, click on the green plus next to a price list. You can delete and add as many price lists as you want. You cannot delete the Default Price List which stores your current Item prices. You also cannot delete a price list that has been linked to a customer or where a price has been assigned in the Item Masterfile.
Outstanding Balances Section
Accounting has two methods of treating outstanding balances. Ageing refers to the number of days that a Customer or a Supplier balance is outstanding. Customer and Supplier ageing can work monthly or based on the number of days from the date of the invoice. Use the Monthly ageing option if you want the Balances – Days Outstanding Report, or Statements and Balances – Days Outstanding Graph on the Dashboard to display unpaid invoices outstanding by calendar month. The Current value will be the total of all unpaid invoices processed in the current month. The 30 Days value will be the total of all unpaid invoices processed in the previous month, and so on.
Deselect this option if you want ageing to work on the actual number of days that the balance has been outstanding since the date of the invoice.
In the Tax Settings section, you will select all the options relating to your company’s BAS settings.
There are three Tax systems available in Accounting, namely:
|Accruals Method||Use this option if you are submitting your BAS on an accrual basis. As you process sales, the system accumulates the GST liability. If there is a requirement, the system offsets the liability with any GST you pay on purchases. This option records tax payments on an accrual basis as the invoices get generated.|
|Cash Method||Smaller businesses are able to defer the payment of taxes on sales until the customer actually pays them (please check with you accountant to see if you qualify). GST credit or liability only occurs when you receive a payment from a customer or make a payment to a supplier. The system holds the provisional liability / GST credit until you process a receipt or payment, after which it transfers the provisional amount to the GST Payable account.|
|No Tax||The system will not ask for tax codes, nor will it ask for exclusive and inclusive amounts. This option is used by tax exempt businesses. (Please check with your accountant)|
Enter all your company’s BAS details in the respective fields.
You are able to add or remove GST types by clicking on the and buttons on each line, and you are able to edit the GST percentages of GST types that are not in use. However, because GST is regulated, you should only makes changes on the advice of a financial professional.
Please note that there are laws governing GST. We recommend that you ask your local GST authority for accurate information.
Should you wish to use the Simpler BAS option, select the Simpler BAS option in the BAS Reporting System drop down menu:
All your Custom Tax Types will remain when switching between Standard BAS and Simpler BAS.
Only 2 tax types will be available for Simpler BAS reporting. Any transactions processed previously will fall in either of these 2, if these weren’t processed using custom tax types and manual tax types.
The Documents and Statements tab has the following sections:
- Statement Messages
- Document Numbers
- Document Descriptions
- Customer Document Messages
- Supplier Document Messages
- Invoice and Statement Layouts
Statement Messages Section
On this section, you can enter messages that you would like to appear on your monthly statements to customers. It is not mandatory to enter messages.
You can enter different messages for different aging periods, as shown below:
Document Numbers Section
You can set your document numbering using this section. This function allows you to set your own numbering structure. You will usually use this to continue your numbering structure from a previous accounting package or spreadsheet. After setting your new numbering structures, the system will automatically increment the next document numbers when they are processed.
If you are processing documents in a multi-user environment, the system will automatically allocate a number to the document when the document is saved. This will eliminate duplicate document numbers caused by various users processing transactions at the same time. When you process documents in a multi-user environment the number will display as NUMBER until the document is saved and a number is allocated by the system.
If you work in a single user environment, the system will also allocate the next document number, but it will display the number immediately because there is only one user processing transactions.
Document Descriptions Section
The Document Descriptions section allows you to rename the different documents available in Accounting.
The “Original Name” and “Copy Name” can be edited. The Original Name will be used when printing/emailing a document for the first time. When a document is re-printed/re-emailed, the Copy Name will be used.
Customer Document Messages Section
In the Customer Document Messages tab, you can enter standard messages to appear on each of your customer documents. It is not mandatory to enter messages. On each document, there is a space to enter messages for the specific document that you are processing. If you enter a message, as you process a document, that message will appear instead of the message entered in this screen.
Supplier Document Message Section
You can enter default messages for supplier documents. These messages can be edited on the documents when you process them.
Invoice and Statement Layouts Section
Select the default, customised or modern report layouts using the drop down menus.
You can import your layout that you have created in the Custom Layout Designer by clicking on the Import button.
If you want to personalise your documents with your logo, you will set the position for the logo and the logo itself on this tab. In the Position of Logo field, you can select to place your logo in the top left or top right of your documents.
Click on the Choose File button to search for your logo.
You can also choose whether to include your logo on emails and the customer zone.
Click on the Preview button to view your logo on an invoice:
The User Defined Fields tab has the following sections:
You may wish to store additional information about your customers, suppliers, items and assets. To do this, the system allows you to name 12 additional fields for each of these record types. You name the fields in the User Defined Fields function.
Once you have set the User Defined Fields here, you can add extra information when editing your customers, suppliers, items and assets.
There are four types of fields:
- Text – You can enter an alphanumeric description, of up to 50 characters.
- Numeric – You can enter numbers.
- Date – You can enter dates.
- Yes / No – This is a check box, which you can check or uncheck.
In the screen above, you can see some examples of information where you may want to use User Defined Fields for in customer accounts.
User Defined Fields are unique to the company that you create them in.
You can add additional document user defined fields for the different processing documents. These extra fields must be added onto your documents using the Custom Layout Designer.
The Email Signatures Tab allows you to create different email signatures for documents that you will email from Accounting.
Click on the Add Signature button to create a new email signature:
Click on the Save button to save the email signatures that you have changed.