How do I use Accounts Receivable?

If you have been upgraded to Finance Manager already, please click here.

 

The accounts receivable section of the accounting tab is where you can create, manage and email your invoices to members. You are also able to manage your tax details and run reports on your account.  

IN THIS ARTICLE 

• How to create a new invoice 
• How to view your invoices 
• How to acknowledge receipt of payment 
• How to see who owes you payment 
• How to run a report on your account 
• What the padlock icon means on an invoice  

  

How to create a new invoice 

The Exchange makes it easy for you to create a new invoice instantly.  

Step 1) Click on the ‘Accounting’ tab at the top menu bar. 

 

Step 2) Under ‘Start working’, click ‘Add New Invoice’. 

  

Step 3) Select the biller and use the address book to search for the customer you are sending the invoice to. 

 

Step 4) Click the drop-down under ‘Select or add item’ to choose what item you’re invoicing for. 

 

Step 5) Fill in the correct quantity of the item you are billing the customer for.  

Next, enter the unit price. If you have any extra details for the customer about the item you are invoicing them for, you can write them in the box provided.  

If you’re invoicing your customer for a taxable item, click the drop-down under ‘Tax’ to select the VAT rate which will automatically be calculated in your invoice.  

 

Step 6) Complete the remaining details on your invoice. 

 

Step 7) If you are invoicing a customer for more than one item, click ‘Add additional items’.  

 

How to view your invoices 

To view a complete list of your invoices: 

Step 1) Click on the ‘Accounting’ tab at the top. 

 

Step 2) Under ‘Start Working’, click on ‘View My Invoices’.  

 

You’ll be presented with a list of your generated invoices.  

If you can’t find the invoice you’re looking for, try changing the filters in the top right-hand corner.  

By default, you’ll be shown invoices from ‘This Month’ only. You can choose to filter by ‘Last Month’, ‘This Week’, ‘Last Week’ or within a selected date range. 

 

If you want to view all your invoices at once, uncheck the box that says, ‘Filter by dates’. 

 

Step 3) To view the invoice, click the PDF symbol next to the invoice number in order to download a copy. 

 

How to acknowledge receipt of payment 

To mark an invoice as paid in the Accounting tab, you must process the payment in the system so our team can see if your customer has paid you for a completed load or not.  

Top Tip: Only process a payment once you’ve been paid and the money is reflecting in your account.  

 

There are 2 ways to process a payment: 

Method 1 

Step 1) Click on the ‘Accounting’ tab at the top menu bar. 

 

Step 2) Click ‘View my invoices’. 

 

Step 3) Search for the invoice you would like to process payment for. 

 

Step 4) Once you’ve found your invoice, click the green icon under the ‘Actions’ column to process the invoice payment. 

 

Step 5) Check that the details on the form are correct and click ‘Save’ to process the payment and mark the invoice as paid. 

  

Method 2 

Step 1) Click on the ‘Accounting’ tab at the top menu bar. 

 

Step 2) Click on ‘Process a payment’. 

 

Step 3) Use the drop-down to select which invoice you want to process. 

 

Step 4) Check the details on the processing form are correct and click ‘Save’ to mark the invoice as paid. 

 

How to see who owes you payment 

Here’s how to view your outstanding invoices: 

Step 1) Click on the ‘Accounting’ tab at the top menu bar. 

 

 Step 2) Click ‘View My Invoices’. 

 

Step 3) Click on ‘Outstanding Invoices’ located in the yellow bar. 

You can also filter invoices by ‘Paid’ or ‘Part paid’.  

 

How to run a report on your account 

Running reports is a great way to:

• See all your outstanding invoices.
• See how much profit you’ve made on the Exchange. 
• Provide your customer with a list of invoices for loads you have completed for them. 

 

There are three types of reports you can run on the Exchange:

1. Statement of Invoices report
2. Total Sales report
3. Debtors by amount owed report 

 

To run a ‘Statement of invoices’ report: 

Step 1) Click on the ‘Accounting’ tab at the top menu bar. 

 

Step 2) Under ‘Reports’, click the ‘Statement of Invoices’ button. 

 

Step 3) If you don’t need a statement on all customers, click the dropdown and select the customer. 

 

Step 4) Choose to run a statement on customers by invoice date, payment date or no date filter. 

 

Step 5) If you’re running a report on all customers. Select whether to be shown ‘customers with outstanding balances only’ or to ‘Show only unpaid invoices’ and then click ‘Run report’. 

 

To run a ‘Total Sales’ report: 

Step 1) Click on the ‘Accounting’ tab at the top menu bar. 

 

Step 2) Under reports, click ‘Total Sales’. 

 

To run a ‘Debtors by owed amount’ report: 

Step 1) Click on the ‘Accounting’ tab at the top menu bar. 

 

Step 2) Under ‘Reports’, click ‘Debtors by owed amount’. 

 

What the padlock icon means on an invoice 

You may have noticed a small padlock icon appear next to some of your invoices. 

This icon means the invoice is locked for further editing.  

 

The padlock icon appears for the following reasons: 

• The invoice you’re viewing has been submitted to your VAT return. 
• The invoice you’re viewing has been approved by your customer for payment. 
   

If an invoice is locked but you still needed to raise additional charges, you can raise a supplementary invoice.  

 

To raise a supplementary invoice: 

Step 1) Locate the invoice you require and click the edit button in the ‘Actions’ column.

 

Step 2) Click ‘Raise a Supplementary Invoice for this order’. 

 

The supplementary invoice will have the same invoice number as the original but will have a suffix attached to the end of the number, for example, “Invoice 101865-100-A”. 

The first time you raise a supplementary invoice you’ll be able to adjust the suffix to suit your preferences.