Account Settings for Invoicing
Account Settings allows you to link and manage your accounting software, create and manage invoice types, statuses, payment terms and tax types.
In this article:
What Do These Account Settings Mean?
Setting Up Your Chart of Accounts
Accessing Account Settings
From the User Menu Panel, navigate to Settings > Accounting.
It is recommended to set these up in the below order:
- Integration
- Account Types
- Tax Types
- Accounts
- Invoice Types
- Invoice Statuses
- Payment Terms
- Invoice Item Types
These settings can be updated at any time, so don't be concerned if you need to make changes.
What Do These Account Settings Mean?
Accounts
Here you can add and manage the chart of accounts that your income and expenditure (invoices and bills) can be allocated against.
Account Types
This will allow your organisation to manage types of invoice accounts that will be needed for invoicing in Jobman.
Integration
Here you can connect Jobman to your accounting software and control the sync settings.
Read More: How to Connect to Your Accounting Software
Invoice Item Types
Manage the types of items that can be added to invoices. Here you can assign your accounting codes, account types and tax types.
Invoice Statuses
Create and define invoice statuses to track the progress of your invoices.
Read More: Invoice Types and Statuses
Invoice Types
Manage the types of invoices that your organisation can create.
Read More: Invoice Types and Statuses
Payment Terms
Set the default payment terms for your customer invoices and purchase order invoices.
Read More: Payment Terms
Tax Types
Set and manage the types of tax that will need to be applied to customer invoices and bills.
Setting Up Account Types
Account types must be applied to each entry in your chart of accounts (see below). You can either edit the existing account types already in your settings, or you can create new ones following these steps:
- Go to Settings > Accounting > Account Types.
- Click Create.
- Name your account type (e.g. Bank Account, Expense Account).
- Add a code (this must match the code in your accounting software exactly).
- Click Save Changes.
Setting Up Invoice Item Types
Invoice item types are allocated to the items in your catalogue, so that when you create a purchase order, your software will automatically apply the correct account code to the purchase. This will then show on the invoice and in your accounting software.
To set up your invoice item types, go to Settings > Accounting > Invoice Item Types.
Click Create, then fill in the following:
- Name
- Code (must match the code used in your accounting software)
- Account (e.g. Purchasing)
- Tax type
Then select the checkboxes if applicable.
To apply your invoice item types to the items in your catalogue, go to Settings > Catalogue > Categories and click on a category to update it:
Setting Up Tax Types
Depending on which country/region your organisation is located in, you will be require to add or update the tax types to be allocated to invoice line items. You can either edit the existing tax types already in your settings, or you can create new ones following these steps:
- Go to Settings > Accounting > Tax Types.
- Click Create.
- Name your tax type (e.g. GST on Income).
- Add a code
- Add a rate (e.g. 10.0000%)
- Click Save Changes.
Please Note: The name, code, and rate must match exactly to those in your accounting software.
Note: When adding items to invoices, you can set/update the tax type for each invoice line.
Setting Up Your Chart of Accounts
Your chart of accounts is the list of different accounts to which income and expenditure can be allocated. To create a new account:
- Go to Settings > Accounting > Accounts.
- Click Create.
- Enter the name (as listed in your accounting software).
- Enter the code (as listed in your accounting software).
- Choose the account type.
- Choose the tax type.
- Tick or untick the rounding option (see below).
- Click Save Changes.
To make changes to any of your accounts, click into it from the list, make any edits required, then click Save Changes.
Click Set as Default to choose one account to be the default applied to all invoices/bills. This can be changed at any time.
Please Note: You must ensure that the name and numeric code for your account matches exactly with the name and code in your accounting software. You must apply the correct account type and tax type to each of your accounts.
Rounding: Under Tax Type, you have the option to tick An adjustment entry to allow for rounding. Jobman and your accounting software will handle rounding on invoices slightly differently from each other. Having this option ticked will allow your accounting software to override Jobman and apply the required adjustment for rounding.
Important: For a rounding account to sync to your accounting platform, you will need the code in Jobman to match the code in your accounting software, and you will need the Rounding checkbox to be selected:
