Recap Activity ~AR~

Time to explore and get creative

Setup

Be creative with what you call each of the of the following....

1. Add a new income account

2. Add an item that you sell for $500 (GST exclusive)

Using Business Insights

1. Find out what your customer's owe you?
2. Find out how much you owe your supplier's
3. Find out what your current bank balances are?
4. Find out what your GST position is?

Sales

1. Create a quote which you then will convert to an invoice 

   1. 1. add a customer on the fly (name only)

      2. use the next invoice number and Today's Date

      3. you sold 10 units of the item you created above to the customer (includes GST)
           

Purchases

1. Upload the supplier document by dragging and dropping it into your In Tray.
2. Create the bill

Reporting

1. Run the Profit & Loss report for TODAY_What is your Profit or Loss for today?  

Back to Business Insights

1. Find out 
   1. what your current bank balances are,
   2. how much money your customers still owe you.
   3. what your GST position is?