Accounting Settings

Debited when a sales invoice is issued

Credited when a supplier invoice is received

Credited for the net amount on sales invoices

Credited for the service portion of an invoice (e.g. equipment rental)

Debited when a service is received on a purchase order (e.g. equipment servicing, professional fees)

Used for credit notes and discount amounts

Used when a confirmed invoice is cancelled, so the reversal shows as its own P&L line instead of reducing Sales Revenue directly

Debited when inventory is sold

Debited when stock is received from supplier

Debited on cash payments received

Debited on bank/cheque payments received

Holds cheques received but not yet deposited/cleared

Credited for tax collected on sales invoices

Credited when POS store credit is topped up or a gift voucher is sold; debited when redeemed