 zero accounting software invoice center and customer information get ready to be an office hero with zero here we are in our custom zero homepage we set up in a prior presentation holding down controls support accounting instruction by clicking the link below giving you a free month membership to all of the content on our website broken out by category further broken out by course each course then organized in a logical reasonable fashion making it much more easy to find what you need than can be done on a YouTube page we also include added resources such as Excel practice problems PDF files and more like QuickBooks backup files when applicable so once again click the link below for a free month membership to our website and all the content on it rolling up a bit on the mouse wheel to 175% zoom in I'm gonna be opening up the demo company file within the demo company will open up our major two financial statements the balance sheet and the income statement in new tabs by right-clicking the tab up top duplicating it right-clicking the duplicated tab and duplicating again I'm gonna go to the middle tab and then go to the accounting drop down look at the reports we want to be opening the balance sheet report open up the balance sheet the tab to the right gonna go to the accounting drop down reports again this time opening up the income statement or profit and loss back to the balance sheet changing the date I'm gonna change it to 2022 is the period we are working in update it and then go back to the first tab this is where we're gonna be working that's the setup process we do every time I'm scrolling in a bit once again to get to that 175% so now we're looking at that customer cycle we looked at last time at the flow of the customer cycle so in other words this will be dependent upon the kind of industry that you are in and we talked about the fact that you might have not only a cash-based system but even an easier system where you're reliant possibly on the bank feeds for that end result of the customer section or the flow or the revenue cycle which is generally cash going into the checking account if you have gig work or something like that you might just be able to use a deposit form for that but if you have a cash-based system which is a normal cash-based system like a cash register you're gonna enter the transactions as they are made and then make the deposit and check them to the bank feeds or bank reconciliation and if you have an accrual system you're gonna go into the invoice create an invoice increase in the accounts receivable then collect the payments on them and then make the deposit and then check that to the bank feeds in a bank feed system or bank reconciliation and if you have inventory that also means we're gonna have to track the inventory along that process too which is generally determined when we make the point of sale so if I go back on over then and consider the forms that's gonna be an invoice form if we have an accrual basis increase in the accounts receivable and the receive money form down here if we're selling and we're getting paid at the same point so this form and then and then of course we've got just the the deposit form which is still kind of basically a receive money form if we're just gonna wait till something like clears the bank and use the bank fees to record say the deposit so I'm gonna go into the check-in account here and just take a look at the easiest more of a cash-based system where we would enter something like this I'll make up a customer AAA in the customer side this time December 2nd and if we're selling an item we can pick the item if it has inventory related to it then we're gonna have inventory related to that item and so on and we can make the sale this then will be increasing the if I was to record it which I won't it would be increasing the accounts receivable the other side then going to the sales typically driven by the item that will have to set up which will talk more about in future presentations and then if there's inventory involved it would be decreasing the the inventory on an automatic kind of basis and again we'll talk more about the inventory later when we dive into this forms or these forms individually in more detail so the other form which will look similar is the invoice this would be the accrual form that has a better way to invoice I'm gonna close this out so note that here we have a similar kind of layout on the invoice but the invoice is going to increase the accounts receivable instead of the checking account that would happen by industry if you're in like an industry where you have to do the work first and then invoice you would have this this issue in that case that would result in the balance sheet account over here of accounts receivable that you would have to track if I go into the detail of the accounts receivable by clicking on it we're gonna see the activity is gonna be going up when we invoice and they and it's gonna go down when there's a payment from the invoice so we got receivable invoice and then the receivable payment so these are kind of like the form types that you can see in the source they're gonna go up when we issue the invoice for the work that we had done or goods that we provided and then we're gonna have the payment when we get paid on those items I'm gonna go then back up again let's go back to the balance sheet we can also see the sub report for accounts receivable in a similar way as we had with the accounts payable in other words I want to see that number also broken out by who owes us the money so we can collect on it now typically you'll be working in that kind of system well on this side by looking at the actual invoices by going to the business drop-down invoices or by going to the contacts and go into the customers but just from a conceptual standpoint to see a report that should tie out to that balance sheet I'm gonna right click on this tab to the right duplicate it so we can open up another report in the new tab here and the accounting drop-down reports and then I'm gonna go down to financial information reports payables and receivable so here's the age payable payable aged receivable let's just do the summary and take a look at that so I'm gonna go into the receivable summary report as of December let's just make it the end of the year we'll say December custom date end of the year update and so then we've got our information now it gives us a little added information that's why we have an aging here but for now I just want to note that we've got the people that owe us money and the total down here 9172 9172 6 3 should tie up to the balance sheet 9172 6 3 now we're we oftentimes when we're working in practice are gonna find that same information discussing with customers and trying to send out more information or collection notices by going inside the system here and then going down say to the business and invoices these would be the invoices kind of center that we can track all of them here we've got the draft items so if we open an invoice and we put it as draft we'll experiment with that later we can put it here we've got the awaiting approval so if we have the added approval process they would be in here meaning they had not yet been recorded as an invoice no effect on the financial statements from these two items then if we made the invoice but it was a waiting payment we would then find it here and if I go into a particular invoice for example we have this this invoice then you have the amount paid which you can kind of tack to it down below let's go back you can also do that by clicking here and say that you you have a deposit so I can click it here and say deposit and if we had multiple invoices we can use like a batching kind of process and that way so I'm gonna then go back I'm not gonna record that I don't believe I recorded it I didn't record it and then of course we can we can also copy it which isn't as we saw that with the purchase order you're probably not as often gonna copy the invoice but maybe that you're copying the invoice for you know a purchase order or a bill or something like that but not as often as you would see when you're copying over say a purchase order for the request of inventory to to the bill for example and then once you pay them you've got the paid items over here and then if there's repeating items you can kind of automate the process in some cases if you've got those repeating invoices so then up top here you've got the new repeating invoices new invoice so you could go into your invoices here notice you have that same option so there's gonna be multiple places you can go into the same kind of stuff as with most accounting software although I believe zero is a little bit more clean in that because if you have too many kind of things it gets a little bit confusing to get to the same spot I mean and then you got the new credit note you've got the send statements so if you wanted to you know select your items down here for most likely a waiting payment and you wanted to send statements related to them so that you can you know try to get the collection on them then you can have the statements so I could you know select all the statements down here and either email them or print them and I could check them out standard format special project we'll keep the standard format just to get a look at it and then obviously if you're working in the accounts receivable area you're gonna be spending a lot of time trying to collect trying to collect on the outstanding balances and track who owes you money did they pay you and so on and so forth and sending out statements to follow up is a part of that all right so then the other con the other areas in the contact area if we go to all or I can just go directly to the customers here so remember in the contacts you have the drop-down up top if you're scrolled out a little bit you're gonna have the tabs and then if I'm scrolled in just to touch more that's gonna give me the drop-down so I go from all to some to customers here we've got our customers down below notice it's given you the the outstanding balances here which is giving you a pretty a similar kind of look as our actual report but it doesn't give us that total that's why the added report is necessary to really tie in you want to imagine in your mind you're looking at the information that ties into the major financial statement of who owes you the money the amount of money that's owed to you by customers is kind of broken out here when you're conversing with an actual customer then it's useful to go into this area and say okay here's your you know you're asking a question Ridgeway about a invoice I sent you or so on then we can see the detail of the invoice sent and the activity that that has happened for a particular customer in this area which can be obviously that would be quite useful when actually conversing with an individual customer now within here you've got the search field up top so you could search for more you can add groups so you can select multiple items here and add to a group you can merge if you need to you can archive which means that you know if you had these customers that were no longer being used at this point in time in the future you're not doing business with them anymore you might not want them to show up on this list but you can't really delete them because you've had activity or transactions with them in the past so you might archive them and then we could add a new customer so if I went up to the new customer up top you've got the similar information we saw with the vendors but oftentimes with customers you want to have that as much information you can have or get with them whereas with vendors if they're a normal vendor like a utility company you just really need the name but and if they're a customer and you do like a food truck thing or something like that then you probably still just may not have any information on them but if you if you deal with customers regularly with repeat business then more and more than you're gonna want to have as much detail as you can contact information email business information and so on so that you can send them and tell them what you're doing and try to continue repeat business so financial details we have the billing address and delivery address we've got the sales defaults so then we have the sales defaults so the sales accounts now the sales oftentimes are driven by the items but in some cases you might then have have the sales driven here when you're dealing with a particular customer so so that's gets a little bit more detailed usually driven by the item invoice due date of the following month so you could try to standardize the due date for a particular customer and make it a little bit different than it possibly your default in other words if you invoice is it doing 30 days or so on then you're gonna have the defaults possibly but then you might have a specific invoice due date here amounts are used original settings tax exclusive tax tax inclusive tax exclusive for example so are there gonna be taxes applyable possibly sales tax and then sales tax we can use the organization settings for the sales tax so the sales tax is another one gets a little bit complex because you can say that you're subject to sales tax possibly might have different areas that have different sales tax that are going to be subject to if you are then you want to be turning the sales tax on that's the first thing and then usually the item the thing you're selling will drive the sales tax allocation but you also might have to deal with the fact that you have different sales tax so the look up here could be possibly helping you to determine which sales tax you know that you're going to be imposing or applying to it so also you could have a situation where most people are going to be subject to sales tax on the item but this particular customer possibly because they're not selling to the end user or something is exempt from sales tax possibly tax on purchase tax on sale so you've got your sales tax we might dive we're gonna dive in at least a little bit to sales tax in the future clearly taxes add a big wrench into the complication of things and differ from location to location but once you get the general idea then you know the sales taxes are not new there's nothing really new under the sun they just kind of do the same thing who's gonna house whatever you're at how are they gonna do their tax then a discount you could set a discount here item and have that automatic apply credit limit amount you could set at the credit remit limit which could be useful I'll use organization setting for branding themes and then the region so if you have different regions that are set up you have that information purchase defaults purchase account bill to date amounts so we've got tax exclusive and so on on the purchase side of things and so we'll keep that here and I'm gonna say cancel so that is that if I go back into a particular customer then so this is what their information looks like we have the item up here so we can add upload files if we want some data to be uploaded within the system for that particular customer we have the options to add to a group merge archive and then if I wanted to edit we go back into the edit field and this will look just like the edit field we were looking at but with an actual customer filled out in it so we've got the address we've got the information here we've got the purchase default so I'm gonna go ahead and cancel and so then then you just got a kind of a summary of the information here the activity down below most likely the most important area because if we have questions from the customer this is probably where we're gonna go about the invoices we sent out payments and so on and then we have notes and the email tab so that's the general layout here future presentations we'll get into some of these actual forms and see the flow of the forms and the impact of them on the financial statements specifically