Introduction
In the world of business, the ability to manage and track financial transactions effectively is crucial. Empress’s Accounting module provides a variety of account settings to help you tailor your financial management to your business needs. This guide will walk you through these settings and how to use them in a straightforward and user-friendly manner.
Transaction Settings
Transaction Settings are at the heart of your Empress experience. They allow you to control overbilling percentages, assign roles for overbilling and credit limit bypassing, check for unique supplier invoice numbers, and more.
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Over Billing Allowance (%): This setting lets you decide how much overbilling is permitted. For example, if an order is worth $100, and you set a 10% overbilling allowance, you can bill up to $110.
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Role Allowed to Over Bill: Here, you can assign the role that can overbill beyond the allowance percentage.
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Role Allowed to Bypass Credit Limit: This setting enables you to designate who can ignore the credit limits set for customers.
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Check Supplier Invoice Number Uniqueness: To avoid duplicate entries, enable this setting. It prevents the creation of Purchase Invoices with the same ‘Supplier Invoice No.’
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Unlink Payment on Cancellation of Invoice: If an invoice gets canceled, this setting will disconnect the payment from that invoice.
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Automatically Fetch Payment Terms from Order: To have payment terms pulled from linked Purchase/Sales Orders automatically, enable this setting.
Tax Settings
Tax Settings help you manage how taxes are applied to your transactions.
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Determine Address Tax Category From: This setting determines which address to use when applying the Tax Category.
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Automatically Add Taxes and Charges from Item Tax Template: To have the Taxes table in transactions populated automatically if an Item Tax Template is set, enable this setting.
Period Closing Settings
Period Closing Settings allow you to freeze accounting transactions up to a certain date and assign roles to manage frozen accounts.
Deferred Accounting Settings
Deferred Accounting Settings give you control over how deferred revenue is booked and whether these entries should be processed automatically.
Print Settings
Print Settings let you decide what information to display in print view, such as inclusive tax and payment schedule.
Currency Exchange Settings
Currency Exchange Settings allow you to determine whether Empress checks the age of records fetched from Currency Exchange in foreign currency transactions.
Report Settings
Report Settings give you the option to customize the appearance of your Cash Flow report.
In summary, Empress’s Account Settings offer a wide range of customizable options to help you manage your business finances more effectively. With these settings, you can control the flow of transactions, manage taxes, control the period closing, handle deferred accounting, and much more. For further assistance, please refer to Empress’s official support resources.