Sales Invoices - File Updating and Ledger Controls

When a sales invoice is posted to the ledger the following actions occur:

The Outstanding Balance on the account is increased by the total including tax, unless the invoice is also paid in which case it remains unchanged.

The Turnover Figures on the account are increased by the total excluding tax.

The last transaction date, last invoice date and, optionally, the last payment date, for the account is updated

The cost figures for the account are updated

The debtor control total is increased by the total including tax, unless the invoice is also paid in which case the debtor total is unchanged.

An invoice transaction is written to the transaction file, followed by an analysis line for each invoice line.

A payment transaction is written to the transaction file if the invoice is marked as paid.

If the stock files are updated, the following actions occur for each stock item used on the invoice:

The current stock level is reduced by the quantity invoiced

Period and year demand figures are increased by the quantity invoiced

Period and year sales figures are increased by the total excluding tax invoiced

Period and year cost figures are increased.

The last transaction date is updated

A sales issue transaction record is written to the stock transactions file

If the job costing files are updated, the following actions occur:

The amount invoiced on the job is increased by the total excluding tax.

The last invoice reference, amount and date is updated

An ‘invoiced’ transaction is written to the job transactions file.