Features

Introducing flexible Chart of Accounts numbering

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on June 27, 2011 by Gidon@AccountsPortal

You can now specify your own numbering convention for the Account Codes in your Chart of Accounts. The code can consist of any alphanumeric up to a maximum of 10 characters. The customisable code will give you more flexibility in reporting and allow you to align your Chart of Accounts with the requirements of your accountant.

Account Code

To complement the new feature, we have also enhanced the Account drop down list in the transactions to allow searching by the Account Code.

Please read the help documentation for more information on Chart of Accounts usage and settings.

EU VAT Reporting for UK Organisations

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on May 09, 2011 by Gidon@AccountsPortal

These changes affect all VAT Registered users, regardless of your country, so please take a moment to find out how they may impact you.

New functionality has been introduced allowing full reporting of EU transactions for UK organisations. All transactions in which you specify a VAT Code will now have a new field called VAT Treatment. This field allows the user to indicate whether the VAT transaction relates to dealings with UK, EU or other International Customers/Suppliers. The VAT Treatment is then used to correctly compile your VAT Report and update the reporting Boxes relevant to transactions with non-UK parties.

EU VAT

How does this affect you? Well, that depends on your situation:

1. I am not registered for VAT
Jackpot! You are not directly affected by these changes. You will, however, need to download the new Import templates if you import Customers, Suppliers or Invoices.

2. I am registered for VAT but don't transact with EU Customers or Suppliers
Don't sweat, you'll hardly even notice! As above, you will need to download the new Import templates. There is one very important change you need to be aware. The new VAT Treatment field will be available on certain transactions and in most cases you can just leave the default. The one exception is if you are processing a refund or return using the bank transactions Receive Money or Spend Money (with Type 'General'). In such cases, you will need to change the default VAT Treatment. Please read more about this at the top of VAT UK - Box by Box.

3. I am registered for VAT and transact with EU Customers or Suppliers
Double jackpot! AccountsPortal now provides for full EU VAT Reporting. You are also affected by the items mentioned in 1. & 2. above so please review these before reading about the new EU VAT features.

  • Transactions relating to an EU or International Customers/Suppliers can be identified by selecting the appropriate VAT Treatment.
  • Customer VAT Numbers are now printed on Invoices and Credit Notes.
  • EC Sales List introduced as a new report.
  • Bank Import Rules have been updated to store VAT Treatment. Please edit your existing rules where necessary.
  • Import templates have been updated. You will need to download the new templates before importing any data.
  • Recurring Invoices for EU and International Customers/Suppliers will need to be updated regarding VAT Treatment.

If you have the time, we recommend you visit the HMRC website to find out more about VAT reporting requirements for international trade. VAT Reporting requirements for International trade can be quite complex and will depend on the nature of your business as well as the nature of your Customer/Supplier (are they individuals or VAT registered entities?). Our recommended approach is that you first determine your requirements and then review them against our VAT UK - Box by Box help document to get clarity on how these transactions should be entered.

Default Text for Invoices, Credit Notes & Statements

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on February 06, 2011 by Gidon@AccountsPortal

Previously, a single text box was available in the PDF Options of your Organisation's settings to specify the text that appeared on the bottom of Customer Sales Invoices, Credit Notes & Statements. This was a bit limiting as these documents are used for different business purposes. To address this, we have split the text box into three separate boxes, one for each business document.

 

PDF Options

Set the Currency printed on Customer PDF Documents

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on January 19, 2011 by Gidon@AccountsPortal

You can choose the symbol or code of the currency that will print on your Sales Invoices, Credit Notes and Customer Statements. The control for this feature is in the Organisation Settings. For example, you could specify either £ or GBP if your organisation is operating in the United Kingdom.

 

Navigate to Settings, Organisations and then click on the appropriate Organisation.

Insert  the appropriate symbol or code, for example £ or GBP or  € or EUR etc.

Currency

Click on the Save button.

Customer and Supplier Terms Enhanced

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on January 10, 2011 by Gidon@AccountsPortal

We have responded to a suggestion by one of our accounting partners regarding the determination of the Due Date in Sales and Purchase Invoices. You can now save unique 'Sales Terms' and 'Purchase Terms' for each Customer and Supplier. Whenever you create a new Customer/Supplier, these fields will default the values that are saved in the Organisation's settings.

This means that when you create a new invoice, credit note or recurring invoice, the Due Date will be automatically calculated for you once you have selected the Customer or Supplier's name.

Thanks for the suggestion Andrew. We are sure many other users will be grateful too!

Customer/Supllier Terms

Price List Items Extended to Purchases

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on December 05, 2010 by Gidon@AccountsPortal

We are glad to announce that we have extended the popular Price List Item functionality to Purchases. This means you can now set default quantities, prices, descriptions, accounts and VAT codes for all your Purchases. The Price List Item is reportable in the Transaction Line Item report allowing you to keep track of all your Sales and Purchases of a particular item (service or product). Read the Price List Item help document for more information.

Price List

Import PayPal files

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on November 14, 2010 by Gidon@AccountsPortal

We have enhanced the power of the existing Bank Statement Import feature by adding specific functionality to manage the import of PayPal files. Login to your PayPal account, export your transactions in CSV format and then import them into AccountsPortal. Its that simple! Your PayPal fees associated with certain transactions will be automatically split into separate transactions during the import process.

For more information, refer to our help document on Importing a PayPal file.

Track Departmental or Job-specific values by using Categories (Cost Centres)

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on October 21, 2010 by Gidon@AccountsPortal

Categories can now be created to represent divisions, departments, people or any other classification required for reporting purposes. Categories can be specified in the line item of any transaction and the results analysed in the Profit and Loss or Transaction Line Items report.

P&L by Category

For more information, refer to the help documentation on Categories.

Batch print multiple Customer Statements

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on September 14, 2010 by Tracy@AccountsPortal

You can now batch print multiple customer statements to PDF - simply select individual customers or use the Select All option. A single PDF file will be generated containing the customer statements.

Print Multiple Customer Statements

More information is available in our help documents.

Import Invoices and Credit Notes

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on September 06, 2010 by Jon@AccountsPortal

You can now import your invoices and credit notes from a CSV file. This is a very efficient method for quickly entering large volumes of data into AccountsPortal, or if you are transferring from another accounting system.

Simply download our template file, copy in your invoice data and hit the upload button - AccountsPortal takes care of all the rest for you. Easy and fast.

For more information, refer to our help document on Importing Invoices and Credit Notes.

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