All About Processing Sale Invoices
“Sale Invoices” processing is now supported by EzzyBills for both MYOB and XERO users.
It is used by customers that generate their sale invoices using a third party software; EzzyBills is used to import them into XERO/MYOB.
EzzyBills provide two options to process sale invoices. Make sure to read the the detailed instructions for MYOB users and instructions for XERO users before you use it for the first time.
A quick note here on the option 1 – use the EzzyBills user setting “Accounts Receivable”. In the past, some users ticked the “Accounts Receivable” option in the EzzyBills user setting. This led all their invoices, including purchase invoice, be treated as sale invoices. To avoid this problem – only tick this option when you are about to process some sale invoices and untick it afterwards.
A quick note on option 2 – let EzzyBills determine sale vs. purchase invoices. This option is excellent if your sale invoices are consistent, with a unique text, i.e. keyword, on all your invoices and this text does not appear on your purchase invoices. Tip: make sure the keyword you use shall be within the same text block – a long keyword with many words and punctuation in it may not be a good candidate because these may not be recognized as one single text block by the EzzyBills invoice processing engine. The bank account number in the example below is a good candidate.
One of the key aspects to process sale invoices is to get the correct customer. EzzyBills has many ways to achieve this. It is good to read information provided in the Customer Identification on Sale Invoices web page.
The best practice for processing sale invoices is to:
- Make sale invoices consistent so that you can let EzzyBills automatically determine Sale vs. Purchase invoices using a keyword.
- Have your customers in your MYOB cards list or XERO contacts.
- Have the words “Sold To” or “Client” or “Invoice To” near the customer name.
- **Provide “My ABN/GST No:” in your EzzyBills user setting
** The ABN/GST No is the number of your company‘s ABN, GST or VAT number. With this, we will avoid identifying your company as the customer.
One company’s sale invoice is another company’s purchase invoice. Paradox or not, at EzzyBills we will make the determination right for you!
Recent Tech Changes
Revisit: Best Practice to Get Supplier Right
In the last newsletter, we went through details on the best practice to get supplier right all the time. In this newsletter we summarise them and add one last point.
The best practices include
- On your XERO Contact or MYOB cards list for suppliers, provide ABN/GST/VAT number (no space between numbers).
- In Xero Contact for a supplier, it is also the best practice to provide a “default purchase account” code; in MYOB cards list for suppliers, provide “expense account” under “buying details”
- If multiple suppliers with the same ABN/GST/VAT number, or the number is difficult to read on the invoice, other data for the such suppliers such as bank details, BSB and account number, email or other data shall be provided in your XERO contact or MYOB cards list.
- And last but not the least, it is necessary in your EzzyBills user settings that you provide data for “My ABN/GST NO” (which is the ABN/GST/VAT number of your company).
For the last point, “My ABN/GST NO” is the ABN/GST/VAT number of your company. It is best that you put it in, no space between numbers or in a typical format. This is used by EzzyBills to make sure that your company is not chosen as a supplier or customer.
If it is a new supplier, EzzyBills will use the ABN/VAT number to look up for business name and this will be used and a new supplier will be created. There is no GST number lookup in New Zealand.
What is coming up:
EzzyBills will have a exhibitor booth in Melbourne and Sydney in Feb and March this year:
- Melbrourne on 15 Feb 2017 to MYOB INCITE roadshow at Melbourne
Convention & Entertainment Centre
- Sydney on 21-22 March 2017 to attend Accounting Business Expo at Darling Harbour International Convention Centre.
See you there and then in person!