Introduction

The heart of the accounting processes is the Accounting sub-module which is part of each service order.  This document describes how to generate an invoice for a service order in RedSky, including the pre-setting required for making it workable.

Before generating the invoice, make sure that the user has input all required details and created the accounting lines. For a service order, depending on the requirement, more than one accounting line can be invoiced together.

Accounting Screen Overview

The Accounting list view gives a summary of all the accounting lines currently in the system and provides access to the related accounting functions. The view has two tabs on the top i.e. “Active List” and “All List”. In “Active list” only active account lines will appear whereas in “All List” all lines include de-active lines and active lines will appear.  On clicking any account line, the details of the particular account line appear.

Receivable: 

Receivable is money owed to a business by its clients and shown in its accounts as an asset. It is what a company is expecting to receive as payments from clients. In RedSky users generate invoices for clients referred as “bill-to-code”. These generated invoices are uploaded for financial processing in Navision.  Receivables are also referred to as Sales Invoices.

Pre-settings: 

If a company is using an accounting system interface, RedSky Technical team assigns the accounting package option using the System Default option under Security Menu. The Accounting System is a drop-down saying: NAVISIONS, SOLOMON, MAMUT, etc. The posting date setting in the System Default table is controlled by Financial Executive accounting based on current accounting posting deadlines– for invoice generation and payable posting.

Actual revenue column in the account line represents the amount mentioned in the Receivable Details section. Receivable details can be visible only if a charge code is selected; the system is validated if a charge code is not selected.  Users can select different currencies for billing and the system will retain the foreign currency amount and the company’s base currency converted amount.

Generate Invoice

To generate invoices, the user needs to perform the following sequence of steps:

• Click the Accounting tab on the Service Order page. The Accounting tab page opens, if pricing lines are already entered with the actual revenue amount, the invoice can be generated.

• Click the Generate Invoice button located at the bottom of the screen.

When a user clicks the Generate Invoice button, the application confirms the following details for the existing accounting invoice lines of the selected Service Order:

• It will find all active account lines that match the following:

• Active Flag is yes

• Recv. Actual amount <> 0, 

• The posting date is blank, and 

• Invoice #s is blank.

• Next, the system will check if the bill-to code is entered for the selected lines, otherwise gives an error message and stops processing. 

• If all the lines selected have the same bill-to #s, then the program auto-generates an invoice #  for all the selected lines 

• The system updates the information for all the invoice lines e.g. invoice # = auto-generated, invoice date = system date, and posted_date = recv. Posting date from System Default table.

If the above checks complete successfully, an invoice will be generated for the accounting invoice lines. It will also cause the following fields (under the Accounting Details section) to be populated for each accounting invoice line:

• Invoice Number: The generated invoice number.

• Invoice Dated: Invoice generation date.

• Posting Date: Populated from the system default.

Once the Invoice has been generated, the receivable amount will be marked as ORANGE and has invoice # assigned to it as shown below. The ORANGE colour implies that for the recv. Amount invoice has been generated it has but not been transferred to the accounting system:

Reverse Invoices

When users click the “Reverse Invoice” button following should happen:

• A pop-up with a list of all the invoices for that s/o# appears.

• User selects one of the invoices or can cancel the process

• Select the Reverse Selected Invoice button to reverse the invoice. A confirmation message box appears. Click OK to continue. Otherwise, click Cancel to stop the current operation.
• Once the user selects the invoice user asks for a confirmation to reverse that invoice, once confirmed do the following:
  • New account lines will be created with identical data except:
  • The actual revenue amount will be multiplied by -1 as well as the sell rates.
  • System will ignore all data in the payable or expense section so that expenses are not duplicated or reversed.
  • System will not transfer any posting or “transfer to accounting” related entries.
  • Thus only revenue or receivables data will be reversed.

Credit Invoice

The credit memos are invoices created by a company to give credit against a previous invoice for either a commission or an adjustment. If actual revenue amount < 0 like highlighted below:

After clicking the generate invoice button, a pop-up will come like below. Pop up will display the list of all invoices generated with radio buttons to select the invoice #, against which the user wants to adjust this amount:

Once generate invoice button is clicked, the invoice is generated. The receivable section for that account line will capture the original invoice # for credit amount under credit invoice#.