Accounting Options


  • Lock overdue accounts
    Select yes to prevent sales to customers that have gone over their credit limit.
  • Lock matched bank transactions
    Prevent edit of bank transactions matched to imported statements (recommended).
  • Last invoice reference
    Your next invoice will be SI- 100469
  • Use "Cost of sales" accounting
    Choose yes: If you use Cost of Sales accounting, then every sale containing inventory items will include accounting entries to reduce your asset accounts and increase your "cost of goods sold". Receiving Goods from a Purchase Order on the Goods-in screen will add value to your asset accounts, and put a provisional balance on "Stock received not invoiced". Receiving a Purchase Invoice against the Purchase Order will clear the balance on the "Stock received not invoiced" account. This is the more accurate method, and allows you to report Profit & Loss over any time period accurately.
    Choose no: If you don't use Cost of Sales accounting, then your Purchase Invoices will be recorded directly against your Purchases codes. No "cost of goods sold" entries will be made when sales are made. You'll need to run a stock take regularly to record opening and closing inventory balances. This method requires regular stock takes, and is less accurate.
    Changing your inventory accounting method once you've started to enter transactions will probably require help from your accountant. We strongly suggest you read the documentation on inventory management.
  • Use today as tax date when invoicing
    Setting this to "yes" will always use todays date as the tax date on orders when posting to accounts.
  • Use today as due date when invoicing
    Setting this to "yes" will add the customer credit terms to todays date to give the due date when posting to accounts.
  • Use default email address for billing email
    If no accounts email address exists for a contact, use the main email address as the billing email address when creating Quotes and Orders. If set to "no", then the billing email address on the order will be blank.