System Values - Accounts - General

System Values associated pages pages icon System Values overview pages icon System Values "How Tos"

Page approved.




WARNING icon
WARNING: Changing these settings may cause unforeseen issues. If in doubt please check with KCSL's Support Team before making changes.

Miscellaneous


System Values - Accounts - General - General

  • Post header totals only (Sales):
    • a tri-state checkbox, set to the "on" setting.: The system posts one account entry per sales invoice to the Stock and Stock – COS nominals.
    • a tri-state checkbox, set to the "off" setting (default): The system posts an entry for each stock item line on the sales invoice to the Stock and Stock – COS nominals.
  • Post header totals only (Purchases):
    • a tri-state checkbox, set to the "on" setting.: The system posts one account entry per purchase invoice to the Stock nominal.
    • a tri-state checkbox, set to the "off" setting (default): The system posts an entry for each stock item line on the purchase invoice to the Stock nominal.
      Note: If post header Totals for sales or purchases is enabled, then the following nominal mappings cannot be used:
      1. Manufacturer
      2. Level 2 Stock Type
      3. Stock Item
  • Show Payment Date :
  • Stock Received not invoiced:
    • a tri-state checkbox, set to the "on" setting.: When stock is received on a delivery note, the value will be posted to the Stock and Stock - Received not Invoiced nominals. Subsequently, when the purchase invoice is posted, the system will reverse this posting and post the purchase invoice as normal to the stock account.
      Notes and Caveats:
      1. If more than one invoice is associated with a Delivery Note, then these should be consolidated into one Purchase Invoice.
      2. The value journaled will use the value from the delivery note at the time the items are delivered in.
    • a tri-state checkbox, set to the "off" setting (default): The stock nominal is not updated with the value of delivered stock until the purchase invoice has been posted.
  • Defer cost-of-sale:
    • a tri-state checkbox, set to the "on" setting. (default): When a sales invoice is issued in the Sales Invoice Manager, the Stock – COS and Stock nominals are not updated. This enables the user to review the stock cost of sales values and amend them before the posting is made.
      Notes and Caveats
      1. The date that the entries are posted is as per the option ‘Invoice Date Basis’ in [ Edit System Values | Sales | Invoice Management ].
      2. The user can view the stock value when the invoice was issued and the current stock value when determining the value that should be posted to the accounts. They can amend the values if required before they are posted to the accounts.
      3. This option is particularly useful if you buy items and sell them before you post the purchase invoice that relates to them, or if you use BO/POs.
    • a tri-state checkbox, set to the "off" setting: The Stock – COS and Stock nominals are updated with the value of the stock at the time the sales invoices are issued in the Sales Invoice Manager.
      See also Defer Cost of Sales.
  • Use Issued Stock Value: This option is only applicable if the Defer cost-of-sale option (above) is ticked.
    • a tri-state checkbox, set to the "on" setting.: The system will use the stock value at the point the sales invoice was issued when the Deferred Cost of Sales report is created.
    • a tri-state checkbox, set to the "off" setting (default): The system will use the current stock value when the Deferred Cost of Sales report is created.
  • Monthly Debt Periods:
  • Fixed Weekly Periods:
  • Include Credits and Payments in Debt Periods:
    • a tri-state checkbox, set to the "on" setting. The ‘Include Credits in Periods’ checkbox will be displayed in the [ Accounts |Debt Management ] screen, which by default will be unticked. This will allow the user to view the balance for each period in the grid, taking into account payments and credit notes. The Unalloc column will display the total value of any unallocated payment and credit notes. This does not affect Statements and LP Value calculations.
    • a tri-state checkbox, set to the "off" setting (default): The ‘Include Credits in Periods’ is not visible.
  • Profit and Loss: Order by Nominal Code:
    • a tri-state checkbox, set to the "on" setting. (default): The Profit and Loss report in Accounts will be ordered by Nominal Account Code within each section.
    • a tri-state checkbox, set to the "off" setting: The Profit and Loss report will be ordered by the Account Name within each section.
  • Exchange Rates Popup Updates System Data :
    • a tri-state checkbox, set to the "on" setting. (default): The ‘Update System Data’ checkbox in the Exchange Rates dialog will be ticked by default. Any currency conversion rates entered here will update the rate in [ System Data | International | Currnecy Conversions ] and will then be the system default conversion rate for that currency.
    • a tri-state checkbox, set to the "off" setting: The ‘Update System Data’ checkbox in the Exchange Rates dialog will be unticked by default. However, the user can tick (or untick) the checkbox as required.
  • Profit and Loss: Nominal Account Budgets:
  • Future Payment Days (default=14 days): this option limits the number of days in the future that a payment can be posted into the nominal accounts, preventing users from trying to post entries beyond a reasonable time frame.
  • Xero Integration
    • a tri-state checkbox, set to the "on" setting.: Khaos Control can be setup to allow invoices and specific simple payments to be exported to Xero. Once enabled, Xero and not Khaos Control should be used to maintain your accounts including debt chasing and bank reconciliations.
    • a tri-state checkbox, set to the "off" setting (default): The options for setting up Xero are not enabled.
      Notes and Caveats: Transactions, including reconciliations that have been entered in Xero will not be imported into Khaos Control.
  • Intrastat - Include Delivery Charge
    • a tri-state checkbox, set to the "on" setting.: The delivery charge for each Sales Order (Net) is added proportionally to the totals for that order.
    • a tri-state checkbox, set to the "off" setting (default): Delivery charges are not included in the Intrastat report.
      Notes and Caveats: In the [ Accounts | Tax (VAT) | Intrastat ] screen, a checkbox option Include Delivery Charge will include the delivery charge as if the option is ticked.

Sales

This is where you define how you wish the system to behave when selling goods to customers.

System Values - Accounts - General - Sales

  • Edit Exchange Rates when issuing Sales Invoice:
    • a tri-state checkbox, set to the "on" setting.: When issuing a sales invoice that is for a non-base currency, the system will ask the user if they wish to review the exchange rates before issuing. If the user selects Yes, the Exchange Rates dialog will be displayed enabling the user to update the exchange rates before posting foreign currency invoices to accounts.
    • a tri-state checkbox, set to the "off" setting (default): The system will issue the sales invoices and the accounts will be updated using the current conversion rate as set up in [ System Data | International | Currency Conversions ] .
  • VAT based on delivery address (default=ticked):
    • a tri-state checkbox, set to the "on" setting. (default): VAT inclusion/exclusion is calculated based on delivery address.
    • a tri-state checkbox, set to the "off" setting: VAT inclusion/exclusion is calculated based on the customer's country.
      Notes and Caveats:
      1. In cases where an overseas customer is collecting goods direct from yourselves, the Sales Order's Delivery Address should be called something like "Customer Collection" and set to "United Kingdom" for VAT to be correctly charged (similar considerations apply when you are sending the goods to the Customer's own shipping agent).
      2. Please refer to HM Revenue & Customs website "VAT refunds for visitors to the UK” for details of the process you need to follow if your customer is to successfully obtain a VAT refund.
  • Override Delivery Rate:
    • a tri-state checkbox, set to the "on" setting.: If a sales order contains ONLY non-vatable, i.e. Zero or Exempt, items, the system will treat the Delivery Amount on the sales order as zero rated for VAT purposes. For example, if delivery is normally £3.50 including VAT when an order contains vatable items it will be £2.92 if the sales orders only contains zero rated items.
    • a tri-state checkbox, set to the "off" setting (default): VAT will be applied to the delivery rate, even when all the sales order items are Exempt and/or Zero rated.
  • Charge credit cards in native currency :
    • a tri-state checkbox, set to the "on" setting.: when charging a credit card, all transactions with the bank are charged in GBP (converting from the customer's currency as required).
    • a tri-state checkbox, set to the "off" setting (default):

Purchases

This area is where you configure the behaviour of the system when dealing with the accounts side of purchasing goods.

System Values - Accounts - General - Purchases

  • Purchase invoice created from Purchase Order (or Delivery Note) :
    • a tri-state checkbox, set to the "on" setting.: Purchase invoices will be created from purchase orders, so you will be paying for goods you may not have received.
    • a tri-state checkbox, set to the "off" setting (default): Purchase invoices are created from delivery notes, so you are paying for what has been delivered.
  • Create purchase invoices (default=ticked):
    • a tri-state checkbox, set to the "on" setting. (default): The system will create purchase invoices from purchase orders or delivery notes.
    • a tri-state checkbox, set to the "off" setting: The system will not create purchase invoices from purchase orders or delivery notes, instead purchase invoices must be manually posted via [ Accounts | SP Ledger ] section.
  • Edit Exchange Rates when posting Purchase Invoice: when BtnTriStYesXP.jpg ticked a dialog will be displayed before posting foreign currency invoices to accounts, allowing you to alter the exchange rates.
    • a tri-state checkbox, set to the "on" setting.: a dialog will be displayed before posting foreign currency invoices to the accounts, allowing the user to change the exchange rates.
    • a tri-state checkbox, set to the "off" setting (default):

Note: new systems are normally supplied with (default) values shown.

See Also

Visit KhaosWikiX at http://wiki.keystonesupport.net/wiki_kcx/ to see the following:

Contact the Khaos Team