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In integrated invoicing, invoices are created and recorded in the same file. Regarding accrual-based accounting, invoices must be recorded at the time of issuance.
In accrual-based invoicing management, it is necessary to set up the customer subaccount in the Accounts table as shown in the balance sheet.
- All customer accounts must have complete data (first name, last name or company name, address), because when creating the invoice, the program uses this data for the invoice header.
It is possible to create and record invoices with or without VAT.
Accrual-based Invoice
In the accrual-based system, the invoice is created to be sent to the customer, and it is recorded at the same time.
Therefore, with a single transaction, both the invoice is created and recorded:
- In the Date and Doc. column, enter the date and any document number.
- In the Invoice column, enter the invoice number.
- In the Description column, enter the items to be invoiced that should appear on the invoice.
- In the Debit column, enter the customer's account from the subaccount.
- In the Credit column, enter the revenue account.
- In the Amount column, enter the gross amount.
Accrual-based Invoice and VAT – Effective Method
The standard procedure in Banana Accounting for VAT management requires entering the VAT code on the same row where the income is recorded.
Issued invoices are immediately recorded and posted. Income is recognized at the time the invoice is issued.
Therefore, in accrual-based VAT management, the VAT code is added when the invoice is created.
The invoice data is entered in the Transactions table. For each new invoice, enter a new transaction row.
- Enter the date of the transaction
- The invoice number
- In the case of invoicing with Swiss QR with IBAN account, use only numbers or letters, without spaces, separators or other characters. The maximum length allowed is 7 characters.
- In the case of invoicing with Swiss QR with QR-IBAN, use only numbers, without spaces, separators or other characters. The maximum allowed length is 7 digits.
- If Swiss QR is not used, the invoice number can be freely chosen.
- Each invoice must have a unique invoice number, even across multiple accounting years. This is important because using the same invoice number over several years is still considered a single document. If you want to repeat the same invoice number, you must add the year to the invoice number or another identifier to distinguish it from invoices from previous years (e.g. 1234524, 1234525).
- The description text (products, services, consulting...) that will appear on the customer invoice
- In the Debit account, enter the customer account number
- In the Credit account, enter the counterpart (Sales account, Consulting or other)
- Enter the amount
- In cases subject to VAT, enter the VAT Code with the applicable VAT rate. See Print invoices and VAT management.
