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Simple Business Invoicing & Inventory 3.15 - User Guide and FAQ
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How to use Simple Business Invoicing & Inventory ?
OWL Simple Business Accounting (SBA) is an easy-to-use program that is designed to maintain complete and accurate accounting of income and expenses. In creating Simple Business Accounting, our objective was to produce a program that is intuitive and requires no prior knowledge of accounting. SBA uses the "single entry" bookkeeping method that is recommended by the IRS. This accounting method is easy to use and is equally suited for small businesses and individuals.
The first step in using SBII is to setup the program to reflect your preferences. Preferences are set using the options under the File / Preferences menu selection. Click the following setup options to set your preferences.
1. Stationary: Stationary preferences are used when printing invoices, bills and statements that are sent to your customers. If you will be printing these items on preprinted stationary, leave the logo file, company name and address blank and set the top margin large enough to drop below your letterhead.
a. If you choose to have SBII print your company logo on invoices, you must prepare the logo as a bitmap image (standard bmp file). Click the "Logo File" button and choose the name of the bitmap file containing your logo graphic. After choosing the file, enter the approximate dimensions of the graphic as you would like it to appear on the printed page. You may need to experiment with dimensions to achieve the results you want.
b. You may also choose to have SBII print your company name and address and/or other information. Fill in the text you wish printed in the Company Name and Address fields. If you are printing a logo file, this information will be printed below the graphic.
2. Invoice and Tax Setup: Here you will designate the title to be printed at the top of your invoices (e.g., Australia requires invoices to be titled 揟ax Invoice? as well as the title to be printed on quotes or estimates.
SBII has the capability to compute and display a maximum of two different sales taxes on invoices. These are defined on the tax setup screen as "Computed 1" and "Computed 2."
a. If your sales are subject to one sales tax:
Leave the Line Label for "Computed 1" as "Shipping" and the rate as zero. You can change the rate to something other than zero if you charge shipping as a percentage of item costs but this is not normally the case.
The Line Label for Computed 2 can be changed to more accurately express the type of tax being computed (e.g., Sales Tax, VAT, GST, etc.). Enter the percentage rate of the tax in the rate column.
Check the appropriate options for when sales tax is charged on shipping and for how sales taxes should be rounded. Click Save
b. If your sales are subject to two different sales taxes:
Enter the line labels and rates associated with the two taxes. For example, in Canada these would be "GST" (Goods and Services Tax) and "PST" (Provincial Sales Tax). Hint: When preparing invoices, items can be designated as subject to one, both or neither of the taxes.
If one of the taxes is a taxable item for the other tax (i.e., Tax 2 is computed on the sum of Tax 2 taxable items plus Tax 1) then enter it on the Computed 2 line. Otherwise, enter the two taxes in the order you want them to appear on the invoice. See Dual Tax Considerations for more information.
Check the appropriate options for when the Computed 2 tax is charged on the Computed 1 sales tax. Click Save
Note: If you also charge Shipping, the Shipping charges will have to be added to the invoice as a line item.
3. Label Forms: A variety of standard label forms have been predefined in the system.
4. Printer: Check that the "Default Printer" option is selected and the Orientation is set to Portrait. Click OK.
5. Report Font: Select the font and font size you prefer to use when printing. We highly recommend Arial or Times New Roman at a size of 10 - 12.
6. EMail Setup: This option lets you setup the program to send email messages via an SMTP email server (note that this does not work with most free email or web based email services nor does it work with proprietary services such as AOL or Compuserve). Check with your internet service provider to see if they support SMTP email. Leaving all fields blank will cause SBII to launch your default email program whenever email is to be sent. The fields to be setup are:
a. Outgoing Mail Host: The name or numeric designation of the SMTP mail host (e.g., smtp.yourisp.com, mail.yourisp.com, etc.).
b. Mail User ID: The User ID you use to send and retrieve email. For most internet service providers, this is your regular User ID or what goes in front of the @ symbol in your email address.
c. Sender's EMail Address: Your full email address.
d. Sender's Name: Your real name.
e. Reply To Address: The address where replies to your email messages should be sent.
Note: Most users should leave these fields blank to allow their default email program (Outlook Express, Eudora, etc.) to handle the email operations.
7. Customer Sort: This option sets up the order in which customers are displayed
on customer pick lists. If you normally identify your customers by name
then select Name. Alternatively, if you normally identify your customers
by their company name then select Company. Since version 3 has expanded
the Last Name field to accommodate company names, most users should
choose they name?option.
8. Inventory Method: Select the method you use for valuing inventory.
Creating an Invoice
Once you have completed the setup steps, you are ready to experiment with creating your first invoice. The following steps will guide you through the invoice creation process.
1. Choose the Invoice Processing button then click the button labeled Edit. This will display a pick list of existing invoices. Click the button labeled "New" to create a new invoice.
2. Click the Bill To button to select the customer for this invoice. This will display a pick list of existing customers. Click the button labeled "New" to add a new customer.
3. On the Customer Screen, enter the customer's name, address, telephone number, etc.
4. Click the Group button. This will display a pick list of existing customer groups. Click the button labeled "New" to add a new group.
5. Enter the name of the Customer Group to which this customer belongs then click the Save button. The group number is assigned by the system when the group name is saved.
6. Back on the Customer screen, enter any special comments in the large field at the bottom of the window then click the Save button. This will return to the invoice screen.
7. Note that the customer's name and address are now displayed in both the Bill To and Ship To boxes. If the shipping address is different than the billing address then click the Ship To button and repeat the steps above to enter the shipping name and address. Once completed, the invoice window will contain different billing and shipping addresses.
8. On the top right of the invoice window, note that the sale date defaults to your system date. Edit the sale date if necessary.
9. Enter a department code if needed. Sales reports can be generated and totaled by department.
10. Under "Credit Card/Check #" enter the form of payment used. If payment has not been received, you can use this field to enter payment terms (e.g., "Terms: 30 days net.").
11. Locate the box labeled "Line Items" and click the Add button. This will display a pick list of existing products and services. Click the button labeled "New" to add a new product or service. Enter a unique Product ID (up to 10 characters), Description and Unit Price. Update the check boxes to reflect if shipping or taxes are normally applied to sales of this product. If you wish to track inventories of this product also check the box labeled "Inventory Item." Finally, enter any Product Text and click the Save button. The Invoice Items screen will be displayed.
12. On the Invoice Items screen, edit the Quantity, Unit Price and the description if necessary. You can also change the "Taxable" status for the item on this invoice. Click the Save button.
13. Note that the line item now appears in the grid and sales taxes, totals and amount due have automatically been computed. Secondary description lines will appear on the printed invoice but do not appear on the Invoice screen.
14. Click the Line Items/Add button to add additional items to the invoice. Note that you can now select from pre-defined products or click the New button to define an additional product.
15. Locate the box labeled "Payments" and click the Add button. Enter the date the payment was received and the amount. Click the Save button.
16. Note that the total of payments is now displayed on the invoice and the amount due has been adjusted to reflect the payment.
17. Enter any discount percentage. This is a discount that applies to the total order. If the discount percentage is zero then the discount line does not appear on printed invoices.
18. Enter any shipping charges and adjustments to the automatically computed sales tax. Note that in the setup above, you may have re-labeled these lines.
19. Enter any Remarks in the large box in the lower left portion of the invoice screen. Any text entered will appear at the bottom of the printed invoice. It does not appear on bills.
20. Click the Print button to view the invoice as it will be printed. You can print the invoice from the Preview screen by clicking the Print option. Click the Done option to return to the invoice screen.
21. Click the Packing List button to view and print the packing list for the displayed invoice.
22. Click the Save button to save the invoice. Since this is your first invoice, a dialog box will be displayed allowing you to specify a starting invoice number other than one. Next, A dialog box will be displayed asking if you want to "Add another invoice?" Click Yes or No, as applicable.
Tracking Inventory
SBII has the capability of automatically tracking inventory by deducting items sold from those purchased or acquired for resale. In addition to generating invoices showing the sale of items in invoices as described above, you will also enter data to show the acquisition of those items that you resell.
1. Choose the Inventory Purchases button then click the Edit button. This will display a pick list of existing inventory purchases. Click the button labeled "New" to enter a new purchase.
2. On the inventory purchase screen, click the Product button to select the product that you are adding to inventory.
3. Enter the date the inventory was acquired, the quantity and total cost. Note: If the item is on order but not yet received, enter the date you expect to receive the item.
Why enter the total cost and not the unit cost? Your cost of goods includes the entire cost of acquiring items for resale which may include shipping and handling charges. Those charges above the unit price would go unaccounted for if you simply entered the unit price.
Once you have entered inventory purchases, you may run the Inventory Reports to check inventory valuations, quantities on hand and the cost of goods sold.
Routine Processing
The Invoice Processing button displays a panel which includes a series of buttons that are designed to facilitate routine batch processing of orders including creating invoices, printing daily invoices and printing mailing labels for daily invoices and emailing invoices.
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