Note: The sales batch entry option is to record sales to customers without the need to produce an actual invoice. There is no option to create a printable invoice for a batch entry once posted. If a printed invoice is required, then one of the invoice production options should be used instead. If an invoice is subsequently required for the batch entry transaction the batch entry must be deleted and the sale entered under one of the invoice production options.

Sales>Batch Entry

1. Reference- This will be the sales invoice number, these numbers should work sequentially, once entered the system will automatically generate the next number on the next sales batch Entry/Invoice.  If you are entering invoices using all invoice entry screens this reference field is linked to all sales transaction screens and will run sequentially no matter which sales entry screen you use.
2. Date- Date of sale
3. Customer- Select a Customer name from the list of Customers (F2) to which the sale relates.
4. Set up New Customers during Transaction Entry- If the sale is to a new Customer which does not already exist within the Customer listing, then simply type the Customer name into the "Customer" field. The program will recognise that the Customer does not already exist within the Customer listing and give you the option to set up the Customer.
5. Narrative- The Narrative field is an optional entry which may be used to give an extra explanation or identify further the purpose of the sale.
6. Nominal Account- Select the relevant sales nominal account to which the sale relates:
   
   • • Sales at Standard Rate                                  VAT @ 23% 
       (normally relates to the sale of goods)
     • Sales at Low-Rate                                          VAT @ 13.50%
       (normally relates to services)
     • Sales at Zero Rate                                          VAT @ 0%
       (sales of goods between traders who are registered for VAT in different EU Member States are zero-rated Export sales (i.e. exports outside the EU) are completely relieved of VAT)
       
     • Sales VAT Exempt                                         VAT @ Nil
       (persons supplying such goods and services e.g. schools, universities and hospitals, are treated as being exempt for VAT purposes. This means that these persons must pay VAT on their purchases but they have no obligation, or entitlement, to register and account for VAT.)

   The above Sales Accounts are available to customise for your business - see Sales Accounts within this Help section for further details.

7. F5- The F5 function key will display a historical breakdown of the transactions on the Customer account (N.B. excluding any transactions within the current live batch as such entries have not been posted).
8. Amount- Enter the GROSS amount (bottom line figure inclusive of VAT)
9. VAT Rate- The VAT rate is automatically linked to the appropriate sales account used; e.g. is you choose Sales at a Standard Rate then a VAT rate of 23% will automatically be linked to the sale.  If you require a different VAT rate to be applied to the sale transaction entry, then you are more than likely required to change the nominal account applied. 
10. Post Entries- Once the transaction is complete on screen you may proceed to enter subsequent entries to build the batch on screen.  Once Post Entries is selected, only then, are these transactions processed and complete.

Before selecting Post Entries you may highlight an entry shown on the screen and amend it if necessary. 

An example entry posted from the above transaction is:

The Profit and Loss Account (P&L) records the actual income generated by the business on this particular sale, therefore the P&L can only ever reflect a particular sale once as the income generated on this sale is only generated once.

The Balance Sheet (B/S) records the amount payable/receivable and amounts paid/received.  In posting a sales transaction the amount of the invoice is recorded as a receivable so is therefore the total is automatically posted to the Trade Debtors account which represents amounts receivable from Customers.

In the above transaction, the entry relates to a sale so this will be credited to the Sales at Standard Rate account in the P&L, however as the business is VAT registered the business must pay the VAT element of the invoice to the Revenue therefore, they are not gaining the full income (Gross Amount) of the invoice only the amount excluding VAT (Net Amount).  The Net amount (excluding VAT) is posted as the actual P&L Income and the VAT element (Balance) is posted to the VAT account (B/S) as a credit meaning it is payable to the Revenue.

The VAT Report will capture the VAT element for inclusion in the appropriate VAT return.

The Total Gross Amount (including VAT) is receivable from the Customer, so this amount is posted to the Trade Debtor's account as a debit as it is receivable.

Note- Accounting works on a double-entry basis and must always balance.

Expense/ Payment/ Payable : 

Income/ Received/ Receivable :