Finance

Finance is where your money is recorded: what customers owe you, what you owe suppliers, and the books behind every report. Sales, purchases, payroll and assets from the other modules post here automatically.

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How Finance is organised

Finance has five sections along the top. Each has its own tabs underneath. Revenue Recognition, Provisions and Development Costs also appear under Accounting unless advanced accounting is switched off in the Finance settings (the gear). Books Health checks whether your books can be trusted and offers repairs for what it finds. It sits next to your figures under Dashboard, and under Accounting.

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Common tasks

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Create and send an invoice

For invoices that repeat, use Sales → Recurring Invoices → Create Template: weekly, monthly, quarterly or yearly, and paused or active.

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Record a payment

Open the invoice and choose Record Payment. Enter the amount, the method and the account it was paid into. If the customer has credit with you, the dialog offers Apply … of credit, and you can tick Email the customer a receipt. A part payment leaves the invoice Partially Paid; full payment makes it Paid. A payment larger than the invoice becomes credit for that customer.

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Bills from suppliers

Supplier bills reach Purchases → Bills from the Invoice Inbox (forwarded or uploaded) and from purchase orders (Create Bill in Procurement). Bills move through the stages Inbox, To approve, To pay, Paid (or Rejected). Pay takes you to Payment Runs, where you pay several suppliers at once or export a bank file.

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Log an expense

Purchases → Expenses → Record Expense. Pick a category and enter the total on the receipt: the net amount and the VAT are worked out at the right rate, and stay editable. Add a cost center or project if you like, and attach the receipt. Expenses that staff paid themselves and want back are under Reimbursements.

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Correct an invoice with a credit note

Open the invoice and choose Correct with a credit note, or go to Sales → Credit Notes → New credit note and pick the invoice. Write the reason in your own words. You can save it as a draft first, and record whether goods came back.

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Make a journal entry

Accounting → Journal Entries → New Journal Entry. Add the lines, and post when debit and credit balance. To undo a posted entry, use Reverse entry: it posts the mirror entry, so the history stays complete.

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Bring in your bank and reconcile

Connect your bank in Settings → Banking → Bank Feeds, or upload a statement file (OFX, QIF, CAMT.053 or MT940). Transactions appear under Accounting → Bank Feeds. To match them to invoices, bills and payments, open Reports → Recon Workbench and use Run Auto-Match, then confirm or reject each suggested match.

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Troubleshooting

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See also