How to Apply Sales Invoice to Bills in Xero?

"How to Apply Sales Invoice to Bills in Xero?" Solution to this is little tricky. 

Some software do not follow this as they took both vending and supplying a different thing and generate the different bills for the same. For instance let's have a look on barter payment with a supplier.

Follow these steps to record a barter payment with a supplier (by a transaction of goods or services to reduce debt you owe to them), rather than paying money through a bank account. You might also refer to this as offsetting sales invoices with bills.

Barter invoicing should be treated the same as a normal invoicing situation. 

You'll need to firstly record the two transactions separately by raising a bill and a sales invoice. What you can then do in Xero is effectively show the sales invoice as being paid and recognize the reduction on the amount owing on the bill, by following these steps:

• Go into your Chart of Accounts, select the Suspense account and tick the box 'Enable payments to this account'.
• Go into the sales invoice and enter the payment details, instead of selecting the bank account, select the Suspense account. In the invoice payment Reference field you may want to enter 'offset bill' or other suitable note for yourself. 
• Go into the bill and enter the payment details (being the amount of the sales invoice), again select the Suspense account. This time in the Reference field you may want to enter 'offset sales invoice' or similar.

The net effect in the Suspense account for this transaction should be zero, the Sales outstanding balance should be zero and the Purchases balance is now reduced by the amount of the sales invoice.

You should check with your accountant or bookkeeper about offsetting any debt and check with them that this is the way they would like you to offset sales invoices and bills.

Hence, "How to Apply Sales Invoice to Bills in Xero?" is been easily be solved by using this.

Ved Paliwal 

Owner of GD Outsourcing Services

How to create and send Xero automated, repeating invoicing

If you are associated with a small B2B service start-up that is currently using excel spreadsheets, and manual invoicing. Then you faced many problems like:

• Getting invoices out on time
• Trying to recall what work was done when it comes time to produce the invoice
• Following up on overdue invoices
• Managing payments that don’t match invoice amounts – for example, when a payment is partial or spread across multiple invoices.

To get rid of this you should look for the software that automatically invoices companies on a monthly basis.

• This automated invoice sets up reminder and schedules which suits you.
• It automatically connects to your existing accounting application.
• Collect payment from your invoices right from the reminder.

Xero have the facility to generate repeating invoice.

Add or edit a repeating sales invoice or bill .For creating or editing a repeating sales invoice or bill:

• Go to accounts tab and click on sales.
• Go to "new" tab and scroll it to repeating invoice. click on it
• Fill the form according to your suitability.
• Save it and your invoice is created or edited.

If you need fully customizable schedule and scripts to the ability to collect payments right from the reminder. You can use InvoiceSherpa. It can integrated with Xero and you can use stand alone.

It can do these automatic task:

• Create Invoices
• Send due date reminder
• Invoices past due
• Thanks email when you receive payments
• Integrated with Paypal

ADD-ONs always saves the time increase your communication and efficiency. 

Ved Paliwal 

Owner of GD Outsourcing Services

How to connect old credit note to new invoice in Xero.

Connect old credit note to new invoice Xero.  

If you want to connect a old credit note with new invoice. First make a invoice when you click on approve button a message will popup to allocate credit. click on Allocate. Enter full amount of credit note or partial amount. click on Allocate credit to submit.

Now credit note balance show in invoice pending.

If you want to add a credit note in unpaid invoice it is easy. Open the Invoice Sales>Invoice click on Invoice Option and select Add credit note.

Now you can make and add credit note to particular invoice. you can see full video of making credit note.

Ved Paliwal 

Owner of GD Outsourcing Services