Accounting Settings for Invoicing (GENERAL)
IMPORTANT: This article is intended for users who have not connected Jobman to Xero, MYOB, or QBO. If you are intending to connect Jobman to one of these three platforms, please see the relevant documentation below:
Accounting Settings for Invoicing (Xero)
Accounting 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 Accounting Settings Mean?
Setting Up Your Chart of Accounts
Accessing Accounting Settings
From the User Menu Panel, navigate to Settings > Accounting.
It is recommended to set these up in the below order:
- Account Types (OPTIONAL)
- Tax Types
- Accounts
- Invoice Types
- Invoice Statuses
- Payment Terms
- Invoice Item Types (OPTIONAL)
Note: Integration is not required if you are not using Xero, MYOB or QBO.
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
If you are using Xero, MYOB, or QBO, you can connect your accounting software to Jobman to enable automatic data syncing.
Read More: How to Connect to Your Accounting Software
Invoice Item Types
These are used to link invoice items to specific accounts and tax types.
Read More: How to Create and Use Invoice Item 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 can be the same as the name).
- Click Save Changes.
Setting Up Tax Types
Depending on which country/region your organisation is located in, you will be required 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 (this can be the same as the name).
- Add a rate (e.g. 10.0000%)
- Click Save Changes.
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.
- Leave the rounding option unticked, as this is for accounting platforms that are synced to Jobman.
- 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.