When making purchases for your company or receiving supplies, you will receive an invoice from your supplier.


Invoice Received data entry is necessary to ensure that the Input Tax paid will be recorded accurately, especially for the purpose of reclaiming Input Tax Credit (ITC).


Required account: Inventory / Cost of Goods Sold / Overhead (Debit) and Creditor (Credit)


To enter data receipt of the invoice, please follow these steps:


1. Go to Expenses ->Received Invoices ->Add New menu. You will be shown a display as follow:



2. Please select supplier / biller and enter the required data.


3. Mandatory field: : Receive From (Creditor Account), Invoice Number, Date Received, Date Due, Subject


4. Non-mandatory field: Address, Import Document No


5. When finished entering data, click the Save button at the top right of the page. A similar display will be shown but when you scroll down, you'll see a new column that is the Transaction Details which contains selections of Debit and Credit accounts.



6. Please ensure the selected Account is the right account for Debit and Credit purpose.


7. Should there be any changes, you will need to click the Save button again.


8. Go to “Approve Transaction” menu to approve the transaction. This is because only approved transaction will appear in the accounting report.


Note:

  • Opening Balance Invoice: Select this if you are entering invoice data BEFORE opening balance date.