Setting up Invoices

There are various settings that can be applied for invoicing in IRIS Financials Purchasing. If you prepay any invoices (prepayments are required when goods or services have already been paid for, but the full benefit of these goods or services is realised in the future), you also need to set up prepayment invoices as described in Setting up Prepayment Invoices.

This setting is used to determine whether VAT is calculated and posted on an item line basis. For example, if the invoice contains 3 item lines, if Yes is selected, the POIN is posted with 3 separate VAT lines stamped with the tax type. This allows you to analyse expenditure by tax type.

Bar codes and QR codes can be generated and attached to physical paper documents once they have been posted into IRIS Purchasing. This is typically carried out for supplier invoices. If you use bar codes or QR codes, the URL is displayed here.

Specifies the document type to be posted within the accounting system. Defaults to POIN. This rarely needs to be changed.

Determines whether purchasing documents are posted directly to Books or if they are posted to the Register until they have been checked and authorised.

Setting up Prepayment Invoices

Prepayments are used when goods or services have already been paid for, but the full benefit of these goods or services is realised in the future. For example, an annual insurance policy could be paid as a lump sum, but the policy typically covers 12 monthly periods. In this circumstance, you need to ensure that the cost is correctly reflected across the accounting periods when the benefit is received. This is achieved by posting a prepayment. For more information, refer to Overview Of Prepayments.

If prepayment invoices are required, you need to define the following user fields:

  1. In the Detail Userfields section of the Invoice tab, select Userfield 1.

  2. Enter Date Range in Title, select Text from the Validation Type drop-down list, then select Carry Forward.

  3. Next, select Userfield 2. Enter Prepayment in Title, select Text from the Validation Type drop-down list, then select Carry Forward.

Carry Forwardmust be selected to ensure that the information is subsequently posted in the POIN document in IRIS Financials.