We are thrilled to introduce an exciting new feature called Charge Notes, designed to streamline your accounts receivable process. Charge Notes function similarly to invoices but with a key difference – they are not VAT compliant. This makes them a good solution for transactions that don't require VAT.
Key Features:
Numbering Sequence: Assign unique numbers to your charge notes for easy tracking.
Line Items and GL Codes: Add line items and assign general ledger (GL) codes for accurate itemisation.
Non-VAT Compliance: Charge notes are not VAT compliant, catering to transactions exempt from VAT requirements.
Draft and Issuance: Create charge notes as drafts, review them, and finalise them as official records.
PDF Generation: Automatically generate PDFs of charge notes for easy sharing and storage.
Usage:
Exempt Supplies: Charge notes are commonly used for VAT-exempt supplies while still allowing VAT supplies if needed.
Internal AR Transaction: Consider charge notes as internal accounts receivable transactions, particularly when integrated with an accounting system.
Workspace Configuration: Choose between charge notes and invoices for different transaction types within your workspace.
Down Payment Invoice Process: If using the down payment invoice process, it will continue to function as invoices, even with the use of charge notes for other transactions.
Upcoming Enhancements:
Credit-Charge Note and Corrective-Charge Note: Soon, we will introduce these features to facilitate charge note corrections.
Payment Allocations and Accounting Periods: Charge notes will seamlessly integrate with payment allocations and accounting periods.
Charge notes offer a simplified accounts receivable option specifically designed for non-VAT transactions. They provide similar functionalities to invoices, including line items and GL codes, empowering you to manage your finances efficiently.
For any questions or concerns, our dedicated support team is always here to answer any questions via the in-app messenger.
All the best,
Team Lavanda