Use Accounteer to organize your financial and accounting workflow
Why use Accounteer to organize your workflow?
The accounting workflow of a company starts at the creation of an invoice when a sale is closed.
Thanks to the Accounteer invoicing module, you can easily edit and format your invoice on the cloud.
For this example, let’s assume that you have a company selling electronics. One of your big clients just ordered 20 television sets.
In order to efficiently manage the administrative side of this sale, you can create and edit the sales invoice on Accounteer in 5 minutes:
On this screenshot, you can see all the information needed to format your invoice. The name of the client is in the upper section, and you can create a new one using the ‘+ ‘symbol.
All you have to do next is enter the sold products, their quantity and their price. Then you can choose the accounting ledger you want the accounting entry to go in. For our example, we choose the account linked to the revenue from the sale of goods.
Afterwards, you can visualize the total amount that the customer needs to pay as well as the separation between the different amounts (taxes, amount without taxes and amount with taxes).
You can then download the definitive invoice as a PDF file or send it directly to the customer as an attached file by e-mail.
Automatic accounting entry>
When the document is created and validated, the internal Accounteer accounting engine will then proceed to all the relevant accounting entries.
These accounting entries will differ from one country to another depending on the accounting organization and legislation of each one. Nevertheless and for the sake of this example, this transaction will generate three separate accounting entries:
- An accounting entry on the revenue account
- An accounting entry in the Tax account
- An accounting entry in the customer receivables.
Those 3 accounting entries are automatically generated by the internal engine of the cloud software depending on the accounting organization you chose during the creation of your account.
The following screenshots illustrate each one of these entries:
1st entry: Revenue account entry:
2nd entry: tax account entry:
3rd entry: customer receivables entry:
As you may have noted, the credit and debit totals are equal for these accounting entries. The global amount is registered in the client receivables accounts, this amount is then split between revenue and taxes.