FAQs

Here’s how you can divide customer ledgers into Route 1 and Route 2 and generate individual and consolidated outstanding reports for both groups in InvoiceNet.

Method 1 : Using Prime Location in Customer Contact Details (Pro/Erp Version only)

• Use InvoiceNet’s Master->Area/Route/Location  functionality to create two groups: “Route 1” and “Route 2”.

(Sample)

Name : Route 1

Primary Group : Y

• Assign  each customer ledger to the appropriate prime location based on their route. You can do this during customer creation or edit existing customer ledgers(Master->Ledger Accounts->Contact Details Tab)

• Individual and consolidated outstanding reports
  • Users can generate individual outstanding reports in InvoiceNet by using the Reports > Outstanding Analysis > Amount Receivable > Location Wise >
  • Users can generate consolidated outstanding reports in InvoiceNet by using the Reports > Account Status > Group-wise Closing Balance >Sundry Debtors

Method 2 : Using Ledger Group (Lite/Lite Plus/Pro/ERP)

• Use InvoiceNet’s Ledger Group (Master->Ledger Group) functionality to create two groups: “Route 1” and “Route 2.”

Sample

Name  :  Route 1

Primary Group : N

Under Group : Sundry Debtors

Primary Group Category: Customers

• Assign each customer ledger to the appropriate group based on their route. You can do this during customer creation or edit existing customer ledgers(Master->Ledger Accounts)

• Individual and consolidated outstanding reports
  • Users can generate individual and consolidated outstanding reports in InvoiceNet by using the Reports > Account Status > Group-wise Closing Balance feature.

A GST return is a comprehensive document summarizing your business’s sales, purchases, collected output tax, and paid input tax during a specific period. Here’s a simplified guide to generating GST returns in InvoiceNET:

Steps:

• Navigate to the GST Tools: Locate the “Transactions” menu and find the “GST Tools” submenu. Within this submenu, select “GST Return” to access the return generation interface.
• Choose the Required Form: From the available tabs, select the relevant GST return form based on your tax filing requirements. Here’s a brief overview of common forms:

1. GSTR-1: Outward supplies details (interstate/intrastate B2B and B2C sales, reverse charge purchases, interstate stock transfers)
2. GSTR-2: Inward supplies details (interstate/intrastate B2B purchases including reverse charge claims)
3. GSTR-3B: Summary of outward supplies, input tax credit claimed, and tax payment
4. GSTR-9: Annual return for regular taxpayers

• Select the Reporting Period: Specify the tax period for which you want to generate the return (e.g., month, quarter, year).
• Generate the Report: Click the “Run” button to initiate the report generation process.
• Review and Edit (Optional):  you might be able to review and edit the generated report before finalizing it.
• Export & Submit : InvoiceNET might allow exporting the formatted data in Excel for finalization and submission on the government portal.

Additional Tools and Reports:

• GSTR-2B Reconciliation Tool: This tool aids in reconciling input tax credit (ITC) with your accounting records, simplifying information compilation.
• Other GST Reports: Explore these reports for detailed breakdowns by tax rate, HSN code, etc

Click Here For More Details

Steps to Create a Transaction Class for B2B local sales with prices excluding tax

• Access the Transaction Class Master: Navigate to Masters > Transaction Class.
• Open the Creation Window : The creation window typically appears by default upon accessing Transaction Classes. If not, click the designated button to initiate it..
• Fill in the Details:
  • Name: Unique name (50 alphanumeric characters, no single quotes).
  • Nature of Transaction: Outward Supply – Registered (B2B)
  • Adjust Unit Price from Tax Rates: None
  • Affect Books of Account?: Put Tick
  • Inventory Column Properties: Tick if separate column properties are required.
  • Compulsory GST Number Verification?: Put Tick
  • Item-Wise Tax Calculation Options:  put tick on the below options
    • Is Required to Calculate SGST?
    • Is Required to Calculate CGST?
  • Print Format: Assign a default print format if needed.
  • Enable E-Invoice: Tick for E-Invoice capability.
  • Allocation Account Settings: Specify posting ledgers
  • Auto-Sundry Item Settings: Define auto-sundry items if needed.
• Save: Click “Save” to create or update the transaction class.
• Additional Notes:
  • Use the “Set Transaction Class” command in Voucher Manager to link transaction classes to vouchers.

Here’s how to record a customer paying ₹1,000 in cash with a ₹50 discount in their ledger balance using InvoiceNET:

Entry 1: Receipt Voucher:

• Create a Receipt Voucher for cash collection: Navigate to Transactions >Accounting>Voucher Entry-> Receipt.
• Enter Details:

Dr./Cr.            LEDGER ACCOUNTS       DEBIT                        CREDIT

Cr.                   Customer Ledger                                                     1000.00

Dr.                   Cash Ledger                         1000.00

Narration : Being cash received from the customer

• Post the Voucher: Save the voucher to record the transaction.

Entry 2: Journal Voucher

• Create a Journal Voucher for discount  allowed: Navigate to Transactions >Accounting>Voucher Entry-> Journal
• Enter Details:

Dr./Cr.            LEDGER ACCOUNTS       DEBIT                        CREDIT

Dr.                   Discount Allowed Ledger               50.00

Cr.                   Customer Ledger                                                     50.00

Narration : Being discount allowed

• Post the Voucher: Save the voucher to record the transaction

Additional Notes:

• Create Discount ledger if not available through Master->Ledger Accounts

(Ex.) Name : Discount  Allowed Account

Group Name : Expenses (Indirect/Admn.)

• Check Customer ledger statement through Reports->Account Status->Ledger Account – View

Here’s how to post the entries for the shop paying an employee ₹10,000 for their January salary with a ₹2,000 advance received in January.

Entry 1: Payment Voucher:

• Create a Payment Voucher for advance salary payment: Navigate to Transactions >Accounting>Voucher Entry->Payment.
• Enter Details:

Dr./Cr.            LEDGER ACCOUNTS       DEBIT                        CREDIT

Dr.                   Employee Ledger                 2000.00

Cr.                   Cash Ledger                                                             2000.00

Narration : Being January month advance salary paid

• Post the Voucher: Save the voucher to record the transaction.

Entry 2: Journal Voucher

• Create a Journal Voucher for posting January salary payable amount to employee ledger: Navigate to Transactions >Accounting>Voucher Entry-> Journal
• Enter Details:

Dr./Cr.            LEDGER ACCOUNTS       DEBIT                        CREDIT

 Dr.                   Salary Account                     10000.00

Cr.                   Employee Ledger                                                     10000.00

Narration : Being January month salary payable

• Post the Voucher: Save the voucher to record the transaction

Additional Notes:

• Create employee ledger if not available through Master->Ledger Accounts

(Ex.) Name : Employee Name

Group Name : Employee

• Create salary account ledger if not available through Master->Ledger Accounts

(Ex.) Name : Salary Account

Group Name : Expenses (Indirect/Admn.)

• Check employee ledger statement through Reports->Account Status->Ledger Account – View

Here’s how to record a special discount of ₹1,000 received from a supplier using InvoiceNET

Journal Voucher

• Create a Journal Voucher for discount received: Navigate to Transactions >Accounting>Voucher Entry-> Journal
• Enter Details:

Dr./Cr.            LEDGER ACCOUNTS       DEBIT                        CREDIT

 Dr.                   Supplier Ledger                   1000.00

Cr.                   Discount Received Ledger                                                1000.00

Narration : Being discount received

• Post the Voucher: Save the voucher to record the transaction

Additional Notes:

• Create Discount ledger if not available through Master->Ledger Accounts

(Ex.) Name : Discount  Received Account

Group Name : Income (Indirect/Admn.)

• Check supplier ledger statement through Reports->Account Status->Ledger Account – View

Here are two ways to add a ₹500 loading charge to a purchase in InvoiceNET:

Method 1: If tax applicable for loading charge

• Create a Purchase Voucher: Enter the usual details like supplier, items purchased, and their individual prices.
• Add Loading Charge Item:
  • Select if “Loading Charge” item is already available or Look for an option to add new items in the purchase Voucher (Press F1 in item name column in item details table/Go to Master->Products).
    • Create a new item named “Loading Charge” or similar with Affect Stock->N. Depending on your tax rules, you might need to choose the appropriate tax rate for the loading charge item
  • Set the quantity to 1 and price to ₹500. Appropriate tax amount will be calculated automatically
• Post the Voucher: Save the voucher to record the purchase with the added loading charge reflected in the total amount.

Method 2: Using Sundries:

• Create a Purchase Voucher: Similar to Method 1, enter the regular purchase details.
• Add Sundry: Select if “Loading Charge” sundry is already available or Look for an option to add sundries in the purchase Voucher(Press F1 in sundry name column in sundry table/Go to Master->Sundry Item(s)).
• Create a Loading Charge Sundry:
  • Name : Loading Charge
  • Operator : +
  • Calculation Type : On Basic Amount
  • Adjust In Account Itself : No
  • Account Head To Post: Choose an appropriate account head for loading charges (e.g., “Transportation Charges,” “Loading & Unloading Expenses”) or create new by pressing F1
  • Save the Sundry
• Set the sundry amount to 500
• Post the Voucher: Save the voucher to record the purchase with the loading charge included as a separate sundry item.

Here’s how to achieve the desired recording in InvoiceNET:

Method 1: Using Expense Voucher:

• Create a Expense Voucher (Transactions->Accounting->Expense/Adv. Receipt/Refund Vouchers->Expense Voucher)
  • Select the supplier from whom the computer was purchased. If supplier not available in the list, Press F1 to create
  • Set Transaction Class-> EXP-VCH-LOCAL-RGD
  • In the items section:
  • Select if “Computer” item is already available or Look for an option to add new items in the Expense Voucher (Press F1 in item name column in item details table/Go to Master->Products).
    • Create a new item named “Computer” or similar with Affect Stock->N. Depending on your tax rules, you might need to choose the appropriate tax rate for that item
  • Set the quantity to 1 and price to ₹10000. Appropriate tax amount will be calculated automatically
  • Verify the transaction and click on save
  • Choose an appropriate “Fixed Assets” account for the computer in the “Head Of Account” field while saving.
• Post the Voucher: This will record the purchase, affect the fixed asset value, and allow input tax credit claim.

Method 2: Using Journal Vouchers:

• Create a Journal: Navigate to Transactions >Accounting>Voucher Entry-> Journal
• Enter Details:

Dr./Cr.            LEDGER ACCOUNTS       DEBIT                        CREDIT

 Dr.                   Computer Fixed Asset Acc 10000.00

(After above HsnCode & Tax Editor popup window appear. On that update appropriate hsncode, tax details  and put tick on “Auto post tax entries?” check box. That will insert tax account and amount automatically based on our input like below)

Dr.                  SGST Acc                              900.00

Dr.                  CGST Acc                              900.00

Cr.                   Supplier Ledger                                                       11800.00

Narration: Being Computer Purchase for fixed asset

• Additional Notes:
  • Fixed Asset ledger must be created like below

Name: Unique Name for the Ledger

Group Name: Fixed Assets

Statutory Classification: Assessable Value

• Upon clicking Save, a “Tax Details” window will pop up. Enter the required information: Nature of Transaction, Supplier Address & GST No., Document No. & Date. Click OK to finalize the voucher entry.
• Post vouchers: This achieves the same financial impact as Method 1

InvoiceNET offers features to add custom fields to transactions, allowing you to capture additional information specific to your business needs. Explore InvoiceNET’s Master > Voucher Manager > Select Desired Voucher settings to add a custom field named “Vehicle Number” on your sales invoices.

The specific impact on stock levels can vary depending on voucher configuration.(Master>Voucher Manager). The vouchers which set Affect Stock? To “Yes” only have stock impact based on “stock type” value

1. Sale Voucher(Affect Stock-Yes; Stock Type-Outward):

• Reduces product stock: When you create a sale voucher, the quantity of the sold product is deducted from the available stock. This reflects the product being delivered to the customer.

2. Purchase Voucher(Affect Stock-Yes; Stock Type-Inward):

• Increases product stock: When you create a purchase voucher, the quantity of the purchased product is added to the available stock. This reflects the product being received from the supplier.

3. Credit Note(Affect Stock-Yes; Stock Type-Inward):

• Increases product stock: When you create a credit note for returned goods, the quantity of the returned product is added back to the available stock. This reflects the product being received back from the customer.

4. Debit Note(Affect Stock-Yes; Stock Type-Outward):

• Reduces product stock: When you create a debit note for additional items charged to a customer, the quantity of the additional items is deducted from the available stock. This reflects the product being sent to the customer with an additional charge.

InvoiceNET does indeed allow achieving tax calculations based on specific price ranges within a single product. Here are the steps to achieve this multi-tax functionality:

1. Explore Master Item Group and Create an Item Group:

• Navigate to Master > Item Group in InvoiceNET.
• Create a new Item Group with a suitable name, for example, “Mobile Phones with Multi-Tax.”
• Set Primary Group to Y, Define Custom Price to N, and tick the Require Multi Tax checkbox.

Multi-Rate Tax Settings:

• As soon as you save this group, a “Multi-Rate Tax Settings” popup window will appear. Define multi-tax ranges by entering values in the following format:

2. Assign the Created Item Group to the Product:

• In the product master data, locate the field for assigning Item Groups.
• Select the “Mobile Phones with Multi-Tax” group you created.

Method 1: Enabling the E-Invoice Option in Transaction Class Settings

To enable e-invoicing for specific transaction classes in InvoiceNET, follow these general steps:

1. Navigate to Master > Transaction Class.
2. Locate the Enable E-Invoice option or checkbox within the settings for the desired transaction class.
3. Activate the Enable E-Invoice option.
4. Save the changes to the transaction class settings.

Once enabled, users can create e-invoices directly upon saving invoices within that transaction class, streamlining the process.

Method 2: Utilizing the E-Invoice/E-Way Bill Manager Tool

To generate e-invoices for saved invoices in InvoiceNET, follow these general steps:

1. Navigate to Transactions > GST Tools > E-Invoice/E-Way Bill Manager.
2. Within this tool, select the saved invoices for which you need to create e-invoices.
3. Initiate the e-invoice generation process using the available options within the tool.

Click Here For More Details

Here are two approaches you can use in InvoiceNET to achieve your desired product classification for reports

Method 1: Utilize Item Groups (Lite/Lite Plus/Pro/ERP)

• Create Item Groups:
  • Navigate to Master > Item Group.
  • Create separate item groups for each brand (Acer, Samsung, LG) and one for “Monitors”.

Sample

1)Name : Monitor

Primary Group : Y

Define Custom Price : N

2)Name : Acer

Primary Group : N

Under Group : Monitor

Define Custom Price : N

3)Name : LG

Primary Group : N

Under Group : Monitor

Define Custom Price : N

4)Name : Samsung

Primary Group : N

Under Group : Monitor

Define Custom Price : N

• Assign Brands & Groups to Products:
• • Go to the product master data for each computer accessory product.
  • Locate the field for assigning item group.
• • Assign each relevant computer accessory product Group name to its corresponding brand group.
• Generate Reports:
  • When generating individual reports, use filters based on the assigned item groups.
  • For the consolidated monitor report, use the filter for the “Monitors” group.
  • You can access various inventory reports through Reports menu.

Method 2: Utilizing Item Groups and Brands(Pro/ERP Only)

This method allows you to achieve the desired product classification by combining item groups and brand options.

Steps:

1. Create an Item Group for Monitors:

• • Navigate to Master > Item Group.
  • Create a new item group named “Monitors”.

2. Create Brands for Different Manufacturers:

• • Navigate to Master > Brand/Manufacturer.
  • Create separate brands for each manufacturer, such as “LG”, “Samsung”, and “Acer”.

3. Assign Brands & Groups to Products:

• • Go to the product master data for each computer accessory product.
  • Locate the field for assigning item group.
  • Select the appropriate item group based on the product’s type(e.g., “Monitor” for monitors).
  • Locate the field for assigning brands.
  • Select the appropriate brand based on the product’s manufacturer (e.g., “LG” for LG products).

Benefits:

• This method offers clear organization and easy report generation.
• You can filter reports based on the “Monitors” item group for a consolidated view and use brand filters for individual brand reports.

The Stock Information Panel in the ERP shows both the Total Stock and the stock for the logged-in branch. The first line indicates the Total Stock, and the second line indicates the stock for the logged-in branch. This is the default setting of the ERP and cannot be altered.
If there is any mismatch between the Total Stock and the branch stock in the case of a single-branch company, it is usually due to discrepancies in the opening stock. To avoid such discrepancies when a product has an opening stock, follow these steps:
1. Go to Master.
2. Select Products.
3. Click on Advanced.
4. Navigate to Define Br/Dept Stock.
5. Set the option to Y.
6. Ensure that the branch-wise stock matches the total opening stock.
By ensuring the opening stock is correctly allocated branch-wise, you can avoid stock discrepancies.

Checklist for Software Client Login Issue:
1. Server Name/IP Address:
Ensure the server name of the client PC matches the server PC name or IP address (the IP must be static).
2. SQL Instance Protocol:
Verify that the TCP/IP protocol for the respective SQL instance is enabled.
3. Unique Port Numbers:
If more than one SQL instance is present and the TCP/IP protocol is enabled for both, ensure that the port numbers are unique.
4. Network Connectivity:
Confirm that the network connectivity between the server and client is proper, meaning the server can be accessed from the client PC.
5. Firewall Settings:
Disable the firewall or enable the SQL port number through the network on both the server and client PCs.

To obtain the outward details of products supplied by a specific supplier, categorized by party, follow these steps:
1. Group Items by Supplier: Ensure that items are grouped (item group) based on the supplier.
2. Navigate to Outward Analysis: Select the category Reports -> Outward Analysis -> All Party – One Item Group.
3. Apply Voucher Type & Item Group Filter: Apply the filter for the specific voucher type and item group.
4. Generate the Report: Run the report to generate the required details.
5. Select Voucher Types: Choose the voucher types used for the sale of the item group.
6. Select Party Grouping: Choose one of the following options:
=>All party
=>Multi party
=>Group of parties
7. Select the Group Name: Choose the specific group name.

In the Invoice Net Profit statement, the cost amount for a product or voucher is calculated based on FIFO Basic Cost or FIFO Net Cost.
Here is how the system approaches this calculation on a Net Cost basis:
1. FIFO Basis: The system follows the First In, First Out (FIFO) method to determine the cost of stock used in sales.
2. Purchase Net Cost: The system considers the purchase net cost (including tax and other costs) of the corresponding stock purchase in FIFO order.
3. Average Purchase Net Cost: If the stock used in a sale depends on more than one purchase, the system calculates the cost using the average purchase net cost of those purchases.
4. Opening Stock: If there is no purchase and the stock used depends on the opening stock, the system uses the opening value for the cost calculation.
5. Standard Cost Price: If a sale is made without any purchase and no opening stock, the system defaults to using the standard cost price set in the Master data (Master -> Std. Cost Price).
Here is how the system approaches this calculation on a Basic Cost basis:
1. FIFO Basis: The system follows the First In, First Out (FIFO) method to determine the cost of stock used in sales.
2. Purchase Basic Cost: The system considers the purchase basic cost (basic purchase-discount) of the corresponding stock purchase in FIFO order.
3. Average Purchase Basic Cost: If the stock used in a sale depends on more than one purchase, the system calculates the cost using the average purchase basic cost of those purchases.
4. Opening Stock: If there is no purchase and the stock used depends on the opening stock, the system uses the opening value for the cost calculation.
5. Standard Purchase Price: If a sale is made without any purchase and no opening stock, the system defaults to using the standard purchase price set in the Master data (Master -> Std. Purchase Price).

To set up cess calculation in addition to the GST rate for specific products in InvoiceNET, follow these steps:
1. Create a Tax Class (Master ->Tax Class):
=> Define a Tax Class in InvoiceNET. This Tax Class should include the corresponding SGST, CGST, IGST rates applicable to your products.
=> Additionally, specify the cess rate applicable in the “General Tax Rate” field within the Tax Class settings.
2. Assign Tax Class to Products(Master->Products)
=> Assign the created Tax Class to the specific products for which cess calculation needs to be applied.
3. Enable Cess Calculation in Transaction Class:
=> Navigate to the Transaction Class settings (Master -> Transaction Class).
=> Locate the relevant Transaction Class that applies to your invoices or transactions involving products subject to cess.
=> Enable cess calculation by checking the ‘Is required to calculate general tax?’ checkbox within the Transaction Class settings.
=> Adjust Unit Price from Tax Rate Options:
1. Depending on your Transaction Class type (whether IGST or SGST+CGST), set the ‘Adjust unit price from tax rate options?’ to either ‘From IGST + Tax’ or ‘From SGST + CGST + Tax’. This setting ensures that the cess is calculated correctly based on the chosen tax structure.
=> Assign Posting Ledger for Cess:
1. In the allocation account settings of Transaction class, assign a separate ledger account for posting the cess amount.
4. Enable Tax and Tax Amount Columns:
=> Ensure that the Tax and Tax Amount columns are enabled in the transaction column properties of your vouchers (Master->Voucher Manager) or transaction classes (Master->Transaction Class).
By following these steps, you can effectively set up cess calculation in addition to the GST rate for specific products in InvoiceNET.

Yes, You can set up employee incentives based on their sales performance in InvoiceNET. Here’s a breakdown of the process:

Setting Up Incentives:
1. Create Employee Ledgers: Go to Master > Ledger Accounts. Create a separate account for each employee. You can use their employee code for easier identification.

2. Enable Employee Allocation: Navigate to Master > Voucher Manager. Enable “Employee Allocation” for sales vouchers.

3. Choose Allocation Method: Decide on the appropriate method based on your sales flow:
=> Per Bill: Suitable for shops where one employee handles a complete customer purchase (one bill). Enable this through Master > Voucher Manager > Enable Employee Allocation.

=> Per Item: Suitable for shops with multiple employees contributing to a single customer bill. Enable this through Master > Voucher Manager > Transaction Column Properties. Here, enable “Allow Focus” and “Allow Visible” for the “EmpAccount” column.

4. Auto-Posting Incentives (Optional): If you want the incentive amount automatically posted to employee accounts, enable the following:
=> Go to Master > Voucher Manager.
=> Enable “Allow Post Sales Commission to Employee.”
=> Set the commission amount posting ledger through Tools > Settings > Inventory Settings.

Additional Features:
• Product-based Incentives: Set commission rates for specific products through Master > Products.
• You can also set incentive rates based on barcode/product group/Invoice amount,etc…
• Barcode Scanning & Printing for Employee selection (Optional): InvoiceNET allows selecting employees by scanning barcodes.

Benefits of Invoice Net-based Incentives:
Using invoice net allows you to design various incentive schemes that motivate and reward employee performance based on sales results.