Saturday, December 22, 2012

Taxes for Accrual Expenses

There are taxes for Accrual Expenses also.  AccountingGuru has come up with this option now.

Let us see how we can assign Taxes for Accrual Expenses.

For Ex. We'll take telephone bill.  Telephone bill has to be paid every following month.  The bill may be generated by the service provider by the mid of the month and the due date will fall on the following month.  So we will create an Accrual expense.

To create this Accrual Expense,  Go to -> Accounting - > New Accrual Expense as shown below.

Feed in the following details as shown in the below screen.

Date           -   21.11.2012 (Accrual Expense creating date)
Due Date    -  04.12.2012 (Payable date)
Comments   - Airtel telephone bill for the period 15th Oct 2012 to 14th Nov 2012(Narration on the  
Select the Expense - Telephone and Other communication
Ref No             -  123456 ( Bill No)
Amount            -  1340.00 (Excluding Taxes)
Tax                  -   VAT 4 (Select the VAT percentage which already created)
To                    -  Bharti Airtel ( Services Provider)

Click on Create as shown below

On successful creation, the below screen appears.


Monday, December 3, 2012

Adding UOM (Unit of Measurement) to the Products

When creating invoices, sometimes, UOM has to be assigned for the products.  Now, you can assign UOM to the products.  Let's how to create UOM.

Load your company, go to -> Products -> UOM as shown below.

The below screen appears, select Add Simple UOM

The below screen appears.  Feed in your required UOM as shown below and click on Save
Ex. Nos
  1. Symbol                               - Nos
  2. Formal Name                     - Numbers
  3. Number of Decimal Places  - 2

On successful creation, the below screen appears.

Now let's see how to assign UOM to Products. 

For existing products which is not under any transactions, Go to -> Products -> List Products
UOM can not be assigned for the Products which is under transactions.

The below screen appears.  Click on Edit as shown below.

The below screen appears, select the UOM by clicking on the drop down menu and click on Update as shown below.  If you create multiple UOM's, everything will be displayed in the drop down menu.  You can select which ever is required.

On successful creation, the below screen appears.