Before you can post your first sales invoice, you must carry out the following tasks:
- Ensure that when you built your chart of accounts
A collection of general ledger accounts, entities, and analysis dimensions, organized into a reporting structure., that you designated at least one general ledger account The general ledger will normally include general ledger accounts (GLAs) for items such as income, expenses, assets, liabilities, and reserves. as the accounts receivable control. - Set up your saleable items and services (Products).
- Set up your customers as Accounts.
You may also want to carry out the following optional tasks:
- Set up a text definition A predefined, reusable snippet of text that can be included on an invoice or credit note. for each item of reusable text that you want to print on your sales documents.
- Set up an income schedule Used to spread the income (revenue) from a sales invoice across a range of accounting periods. definition for each method of revenue recognition that you use.