Record and transaction settings

Go to Settings, then Business settings and then select Record and transactions settings to enter your default settings and preferences.

Customers >

Choose when your sales invoices are due

Here you can set default Credit Terms for your customers. This is useful if your credit terms are the same for most of your customers. You can still set different credit terms for individual customers where required, or change the due date on individual invoices and credit notes.

Once set here, we use this as the default on all new customer records. When you enter a sales invoice and select a customer, we calculate the due date based on the credit terms and print this on your invoices.

If you change this, we don't update the Credit Terms for existing customers. You must manually change any relevant customer records.

Choose one of 3 ways to calculate the due date

Number of days after invoice date - Enter the required number of days - We add that number of days to the invoice date to work out the due date. For example, for 30 days, an invoice with a date on 1 May has a due date of 31 May
End of next month (net monthly) - We automatically set the due date to the last day of the following month. So all invoices with invoice dates in June have a due date of 31 July
Immediately - We automatically set the due date to the same date as the invoice date. An invoice with an invoice date of 2 June has a due date of 2 June

Choose how to age your sales transactions

We use ageing periods to group your transactions together to show you the total amount you are due to be paid in for each period. This helps with your credit control as you can easily see which debts are the oldest.

We use ageing periods on your Aged Debt report and show the age of transactions at the bottom of your customer statements.

We set default ageing periods of 30, 60. 90 and 120 days as this is common for most businesses.

Set different ageing periods here

Ageing period (in days) -
Enter the number of days you require for each ageing period - The total of unpaid transactions shown in each period based on their invoice date
For example, if today's date is 10 July, invoices dated between 11 June and 10 July show in the < 30 days column, invoices dated 11 May to 10 June show in the < 60 days column.
Ageing periods by month - The total of unpaid transaction shown in each column based on the month. The first column is the current month. Subsequent columns show outstanding transactions for the previous months

For example, if today's date is 10 July, invoices dated anytime in July show in the Current column, and invoices dated anytime in June show in the 1 Month column.

Choose default ledger accounts

Chose the ledger accounts to use by default on the sales transactions.

Sales ledger account

We use this as default ledger account on all new customer records - When you enter a sales invoice and select a customer, we prefill with the ledger account saved on the customer record. You can still change this when entering transactions and when creating new records

If you change this, we don't update the ledger account for existing customers. You must manually change any relevant records:

Sales discount ledger account - We use this ledger account when you add a discount to sales invoice or credit note
Carriage ledger account - We use this ledger account when you add carriage to a sales invoice or credit note

Suppliers >

Payment terms

Here you can set default Credit Terms for your suppliers. This is useful if most of your suppliers offer you the same credit terms. You can still set different credit terms for individual suppliers where required, or change the due date on individual invoices and credit notes.

Once set here, we use this as the default on all new supplier records. When you enter a purchase invoice and select a supplier, we calculate the due date based on the credit terms and print this on your invoices.

If you change this, we don't update the Credit Terms for existing suppliers. You must manually change any relevant records.

Choose one of 3 ways to calculate the due date

Number of days after invoice date - Enter the required number of days - We add that number of days to the invoice date to work out the due date. For example, for 30 days, an invoice with an date on 1 May, has a due date of 31 May
End of next month (net monthly) - We automatically set the due date to the last day of the following month. So all invoices with invoice dates in June have a due date of 31 July
Immediately - We automatically set the due date to the same date as the invoice date. An invoice with an invoice date of 2 June has a due date of 2 June

Choose how to age your supplier transactions

We use ageing periods to group your transactions together to show you the total amount you are due to be paid in for each period. This helps with your credit control as you can easily see which debts are the oldest.

The Aged Creditor report tells you the total amount you owe per period, and per supplier.
By default, we set ageing periods to 30, 60. 90 and 120 days as this is common for most businesses.
Set different ageing periods here and choose from ageing by days or by calendar months.

Ageing period (in days) -
Enter the number of days you required for each ageing period. The total of unpaid transactions shown in each period based on their invoice date
For example, if today's date is 10 July, invoices dated between 11 June and 10 July show in the < 30 days column, invoices dated 11 May to 10 June show in the < 60 days column
Ageing periods by month - The total of unpaid transactions shown in each column based on the month. The first column is the current month. Subsequent columns show outstanding transactions for the previous months
For example, if today's date is 10 July, invoices dated anytime in July show in the Current column, invoices dated anytime in June show in the 1 Month column.

Choose default ledger accounts

Chose the ledger accounts to use by default on the sales transactions.

Purchase ledger account - We set this set this as default ledger account used on all new supplier records. When you enter an invoice and select a supplier, we prefill with the ledger account saved on the supplier record. You can still change this when entering transactions and when creating new records

If you change this, we don't update the ledger account for existing suppliers. Instead manually change each relevant supplier record.

Purchase discount ledger account - We use this ledger account when you add a discount to an invoice or credit note

Payments and receipts >

Set default ledger accounts

Here you can set the ledger accounts we use by default when you enter payments and receipts.

For discounts and interest payments, we use the ledger accountset here automatically. You cannot change it individual transactions.

For the Other Receipt and Other Payment ledger account, we prefill with the ledger account saved here. You can change this when entering transactions.

Default receipt and payment types

When entering payments and receipts, you can choose whether the payment is for a customer or supplier or simply money in and out of your bank account.

Choose here which tab you want to open by default when entering payments and receipts

Default payment type - Choose from Supplier Payment or Other Payment
Default receipt type - Choose Customer Receipt or Other Receipt

Products and services >

Product prices

You can set up to 10 different sales prices for your products and stock items.

Enter a name for each price. Then select the In Use check box .

If you don't want to use a sales price types, clear the In Use check box. You can then delete it if required.

Once set here, you can choose the sales price to be used by default on each customer record. We then prefill the sales price when you select the product on an invoice or credit note.

Service rates

Similar to product prices, you can also set up to 10 different rates for your service records.

Enter a name for each rate. Then select the In Use check box .

If you don't want to use a rate, clear the In Use check box. You can then delete it if required.

Once set here, you can choose the rate to be used by default on each supplier record. We then prefill the rate when you select the service on an invoice or credit note.

Default ledger accounts

Set the default ledger accounts used on all new product and service records. When you select a product or service, we prefill with the ledger account saved on the product or service record. You can still change this when entering transactions and when creating new records.

Choose the ledger accounts to use for sales and purchases of the different types of items

Non-stock records and services
As you are not tracking the purchase of individual items, we recommend that you use a cost of sales ledger account here. The value of products bought is then deducted from your gross profit on your Profit and Loss report. Our default cost of sales ledger account is 5000 Cost of Sales -Goods.
Stock records
As well as keeping track of the number of items you have in stock, it’s also important to record their value. The value of your stock is usually shown as a business asset on your Balance Sheet. We recommend that you record the purchase of your stock as an asset and record it on your balance sheet. Our default stock ledger account is 1000-Stock Raw materials.

Weight measurement type

Choose whether you use metric or imperial weight measurements for your stock items.

If you have already added weights to stock items and want to change the unit of measure, you muse remove all the weights from the stock items first.

Sort items by code or description

Choose from the Sort order for Product/Service menus drop-down.

The is determines how we display products and services in the menus and drop-down lists.

Accounting settings >

Sort ledger accounts by name or nominal code.

The is determines how we display ledger accounts in the menus and drop-down lists.

Choose from

Ledger name -
Lists ledger accounts in alphabetical order followed by the nominal code. For example, Other income (4900)
Nominal code -
Lists ledger accounts numerically by nominal code followed by the name. For example 4900 - Other income

Financial report options

Choose how values are shown on your balance sheet and profit and loss.

Show negative assets on Balance Sheet -
Choose whether a negative asset value appears on your balance sheet under Liabilities or Negative assets
Show Profit and Loss account value -
Choose whether to show your profit and loss value separately on the Balance Sheet report or within the calculated Profit and Loss report