Company Details - settings to update before raising your first invoice
The following items can all be set up within the Company Details settings:
Step 1 - Go to the main Settings page.
Step 2 - Under Accounts > Select Company Details.
Registered Office
Step 3 - Enter you business details.
Invoicing Defaults
Step 4 - Tax Name - Enter your Tax Name this will vary by country. Example UK will be VAT and Australia GST.
Step 5 - VAT No. - Enter your VAT registration number or equivalent for your country.
Step 6 - VAT Rate - Enter your tax rate as a decimal. Example 0.2 for 20%
Step 7 - Payment Terms - Enter your default payment terms in days. Example 7, 14, 30 days
NOTE: the default setting can be overridden for individual clients by updating the Payment Terms field on the details tab of the client record.
Step 8 - Next Invoice No. - The default invoice starting number is 0000001. Update the field to change this to any other number.
NOTE: if you change the invoice number it should only be moved forward and not backwards.
Step 9 - Invoice No. Length - The default length is 7 digits. Example 0000001. Update the field to change the invoice length. Example when set to 5 the invoice number would appear as 00001.
Step 10 - Invoice Prefix - By default the invoice is numbers only. Update the field to add a prefix. Example when the Invoice Prefix is set to INV- the invoice number would appear as INV-19241 with the settings in the image below.
NOTE: If using a third party accounts package check if their API supports Invoice Prefixes.
Step 11 - Click Save.
Invoice & Invoice Email Document Templates:
When you create an invoice, MagManager will generate a pdf file for the invoice. Before invoicing for the first time, check that the invoice document template, and the invoice email document template, are personalised to suit your requirements.
Step 1 - Go to the main Settings page.
Step 2 - Under Admin > Select Document Templates > Select System Documents Tab.
Step 3 - In turn select Invoice and Invoice Email and update them as necessary.
Step 4 - Click Save.
Definition of the document templates:
Invoice - The ‘standard’ document type is the A4 invoice PDF, which is attached to the email message.
Invoice Email - The ‘email’ document type is the email message the client receives with the Invoice as an attachment.
Full details on setting up and editing document templates can be found here.
