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Account

Shinjinee Sarkar
  • Updated

Account Settings

The account settings allow you to set up various aspects of the business accounts such as default payment and cash types, bank accounts and invoice and credit notes identification formats. You can also set up a financial year and set up divisions and sub-divisions. To set up an account, you can perform various actions. To know more about these actions, click on the links below.

Accounts Settings

The account settings allow you to set up various aspects of the business accounts such as default payment and cash types, bank accounts and invoice and credit notes identification formats. To set up accounts, complete the steps below.

1. Log in to BrightBooks. The Business page appears.

2. On the Business page, locate the required business by completing either of the following steps.

      • In the Search box on the top right corner, enter the name of the business fully or partially and click the 'search' icon. The business summary will appear under the Select a Business heading.
      • The business summary is available under the Select a Business heading. If you cannot find it, at the bottom-right corner of the page, click 100 to increase the number of records to be displayed on the page. The business summary will be available under the Select a Business heading.

3. Under the Select a Business heading, click the name of the business.

4. The Customers page appears. On the Customers page, from the left panel, click Settings.

5. The Settings page appears. On the Settings page, under the ACCOUNTS heading, click Setup.

6. The Accounts Setup page appears. On the Accounts Setup page, enter the following details.

 

FIELD STEP
CURRENCY This refers to the currency of the business; it will be displayed on all printed Invoices, Statements, Credit Notes etc as well as reports.
VAT NUMBER Enter the Business VAT Number if applicable, the VAT Return, printed Invoices and Credit Notes.
VAT Registered Is the Business Registered for VAT, if so tick the box.
DEFAULT RECEIPT TYPE Select the default receipt payment method.
DEFAULT PAYMENT TYPE Select the default payment method.
QUICK PURCHASE INVOICE/CREDIT NOTE Select the appropriate method.
QUICK SALES INVOICE/CREDIT NOTE Select the appropriate method.
NON-SUPPLIER PAYMENT Select the appropriate method.
NON-CUSTOMER RECEIPT Select the appropriate method.
DISCOUNT METHOD Select the appropriate method.
DEFAULT BANK ACCOUNT Select the default bank account for the transaction.
AUTO-ALLOCATE RECEIPTS ON BANK FEED FOR CUSTOMERS This allows you to automatically allocate receipts on imported bank feeds to customer invoices. You have two options: All and Individual. The All option completely allocates the receipts to selected customer invoices. The Individual option allows you to allocate to select customer invoices.
AUTO ALLOCATE PAYMENTS ON BANK FEED FOR SUPPLIERS This allows you to automatically allocate receipts on imported bank feeds to supplier invoices. You have two options: All and Individual. The All option completely allocates the receipts to selected supplier invoices. The Individual option allows you to allocate to select supplier invoices.
Show Markup in Invoice edit Select if appropriate.
Show Total for Quantity Select if appropriate.
Sequential Ref. No. on Purchase Invoice Select if the invoice number should be shown sequentially.
Show Ref. No. on Invoice Browse Select to show the reference number on the invoice browse page.
Don't allow VAT on non-customer receipt Select if appropriate.
SALES INVOICE NUMBER Select AUTO if the numbering should be system-generated. To define a custom number, deselect the AUTO option.
SALES CR.NOTE NUMBER Select AUTO if the numbering should be system-generated. To define a custom number, deselect the AUTO option.
SALES ORDER NUMBER Select AUTO if the numbering should be system-generated. To define a custom number, deselect the AUTO option.
SALES QUOTATION NUMBER Select AUTO if the numbering should be system-generated. To define a custom number, deselect the AUTO option.
PURCHASE ORDER NUMBER Select the required value.
UPDATE PURCHASE PRICE FROM PURCHASE INVOICE

The user can choose out of three options:

Never- The user would not be asked to update the product price every time it is changed.


Ask Each time- The user would be asked whether they would want to update the product price every time it is changed. 

Always- The user would not be asked but the price would automatically be updated every time it is changed. 
RECEIPT NUMBER This field will be auto-generated as per the last existing docket number.
PAYMENT NUMBER This field will be auto-generated as per the last existing docket number.
INVOICE DEFAULT QUANTITY Enter the value of a default invoice quantity must be shown.
DEFAULT TRANSACTION DATE Select the appropriate value. The default value is Today. If you retain the default selection, all transaction dates, for example, the sales invoice dates will be the current date.
SALES INVOICE METHOD Depending on your selection, you can set up a service or product invoice or both for your customers. Your options are: for service invoice: Service Only; for product invoice: Products Only and for both: Products & Services.
PURCHASE INVOICE METHOD Depending on your selection, you can set up a service or product invoice or both for your suppliers. Your options are: for service invoice: Service Only; for product invoice: Products Only and for both: Products & Services.
PAYMENT TERMS Enter the payment terms.
Allow Line by Line Save in Invoice Select if appropriate.
Autofill Notes from Invoice Select if appropriate.
Don't allow VAT on non-supplier payment Select if appropriate.
Enable RCT Transactions Select if appropriate. Note that even if you add a custom RCT VAT code after enabling this option, you are allowed to use only system-defined RCT VAT rates.
7. To save the account settings, click [Save].
 

Accounting Settings

This setup allows you to define the financial period during which the accounting will be done. To set up, you can just complete the following steps.

  1. Complete steps 1 to 4 as given in Accounts Settings.
  2. On the Settings page, under the ACCOUNTS heading, click Accounting Periods.
  3. The Accounts period window appears. Configure the financial year on the Accounts period window, as required, and click [Save].
  4. You can lock/unlock future accounting periods by ticking the checkbox for the time you want to lock any transaction posting. 

Note: In the Settings > Accounts > Accounting Periods section, users can now edit the number of periods for Future Years, similar to editing Current Year Periods. While users can modify the number of periods, they are restricted from editing the Start/End Dates of Future Years. The display will include these dates, maintaining consistency with the Current Year view.

 

  
If your business is in Ireland and your accounting period encompasses across more than one year, 
you are not allowed to generate the VAT Return of Trading Details report.

Divisions and Subdivisions/Departments Settings

You can link divisions and subdivisions or departments to cost centres and their departments respectively. For example, a business can have branches or cost centres across the country or the world and each branch can have departments such as accounts, marketing, sales and logistics. Divisions and subdivisions allow you to measure financial records division and subdivision-wise. You can calculate the revenue from certain products or services cost centre and department-wise. You need to set up divisions, subdivisions, or departments and make them available on invoices or credit notes. To do that, complete the following steps.

  
If, at the time of setting up the business, you select Primary School or Secondary School as the business type, then you will be using Departments instead of Divisions.
  1. Log in to BrightBooks. The Business page appears.
  2. On the Business page, click the required business name.
  3. The Customers page appears. On the left panel, click Settings.
  4. The Settings page appears. On the Settings page, under the ACCOUNTS heading, click Divisions.
  5.  A new update has been introduced which comes in the format of the Order Divisions button. If a user needs to rearrange the current order of the created divisions, then they do so by rearranging the division by using the new Order Divisions button. Once clicked, a module opens where you can rearrange the list as per your choice and click Save. Going forward, you will be able to see the selected order displayed. 

Note

If, while setting up the business, you select Primary School or Secondary School as the business type, then the link name will be Departments instead. The Divisions page appears. On the Divisions page, enter the following details and click Save to set up divisions and subdivisions.

FIELD STEP
Divisions tab  
Use Divisions Select to make divisions and subdivisions available in transactions.
SHORT Short name of the division. You can use a maximum of five characters. This information will be available as a heading in transactions such as invoices.
LONG Description of the division. This is for your information and reference.
DIVISION 1 Name of the division. This will be available in a list of transactions such as invoices.
DIVISION 2 Name of the division. This will be available in a list of transactions such as invoices.
Other functionality

To add a row for additional divisions, click Add.

To remove a division row, click 'Delete'.

To make a division available by default, select the DEFAULT option.
Sub Divisions tab  
SHORT Short name of the subdivision. You can use a maximum of five characters. This information will be available as a heading in transactions such as invoices.
LONG Description of the subdivision. This is for your information and reference.
DIVISION 1 Name of the subdivision. This will be available in a list of transactions such as invoices.
DIVISION 2 Name of the subdivision. This will be available in a list of transactions such as invoices.
Other functionality

To add a row for additional subdivisions, click Add.

To remove a subdivision row, click 'Delete'.

To make a subdivision available by default, select the DEFAULT option.

  
If, at the time of adding a business, you chose Secondary Schools as the business type, then certain departments are already available. The departments are:
  • All other departments
  • Non-teacher pay grant
  • Non-pay grant
  • Transition year
  • Supervision & substitution
  • Book grant/rental
  • ICT grant
  • SSSF
  • The image below shows the divisions and subdivisions.

 

Intrastat Settings

The Intrastat settings allow you to set up the details for the Intrastat report that is to be generated by the user. If, while exporting or importing the document the details are not already updated on the Customer or Supplier page, it fetches the details from here. The user can change the required details as necessary. To set it up, the Intrastat settings complete the following steps:

  1. Complete steps 1 to 4 as given in Accounts Settings.
  2. On the Settings page, under the ACCOUNTS heading, click Intrastat.
  3. The Intrastat Settings Page appears. The user needs to select the details as necessary from the drop-down.

     

    FIELD STEP
    Intrastat Settings page  
    DEFAULT DISPATCH TERMS OF DELIVERY

    Select the default dispatch terms of delivery from the drop-down. The option becomes available only for Customers.

    1. If 'Not Required' is selected in settings then this tab becomes disabled under Customers>Intrastat Details.

    2. If another option from the drop-down is selected then that is saved as selected by the user. The options available to the user are Cost and Freight, Cost, Insurance and Freight, Carriage and Insurance Paid, Carriage Paid to, Delivered at Place, Deliver at Terminal, Delivery Duty paid, Ex-works, Free alongside the ship, Free Carrier, Free on Board.
    DEFAULT DISPATCH MODE OF TRANSPORT

    Select the default dispatch mode of transport from the drop-down. The option becomes available only for Customers.

    1. If an option is selected from the drop down then that is saved as selected by the user. The options available are Transport by Sea, Rail, Road, Air, Consignments by Post, Fixed Transport Installations, Transport by Inland Waterways or Own Propulsion.
    DEFAULT ARRIVAL TERMS OF DELIVERY

    Select the default arrival terms of delivery from the drop-down. The option becomes available only for Suppliers.

    1. If 'Not Required' is selected in settings then this tab becomes disabled under Suppliers>Intrastat Details.

    2. If another option from the drop-down is selected then that is saved as selected by the user. The options available to the user are Cost and Freight, Cost, Insurance and Freight, Carriage and Insurance Paid, Carriage Paid to, Delivered at Place, Deliver at Terminal, Delivery Duty paid, Ex-works, Free alongside the ship, Free Carrier, Free on Board.
    DEFAULT ARRIVAL MODE OF TRANSPORT

    Select the default arrival mode of transport from the drop-down. The drop-down is available only for Suppliers.

    1. If an option is selected from the drop down then that is saved as selected by the user. The options available are Transport by Sea, Rail, Road, Air, Consignments by Post, Fixed Transport Installations, Transport by Inland Waterways or Own Propulsion.
    DEFAULT NATURE OF TRANSACTION

    Select the default dispatch nature of the transaction from the drop-down.

    1. This option is available for both Customers and Suppliers.

    2. If an option is selected from the drop-down then that is saved as selected by the user The options available are Transactions involving sales/purchases, Returned or replacement goods, Change of ownership without compensation, Goods for processing, Goods after processing, goods for/after repair, Operations under joint defence projects, Building materials for construction contacts etc, Other transactions not included above.

Standard Notes

You can add the Standard Narratives in the Standard Notes section under Settings > Accounts. These Standard Narratives will be reflected in the following sections:

You can select single/multiple Standard Notes, add, edit or delete Standard Notes from Settings>Accounts>Standard Notes. You can also search for a standard note using the search bar that pops up once you click Standard Notes on the Settings page. You can access it from Settings>Accounts>Standard Notes. 

In guidance with the new update, you can now also add a Narrative to your note. You can thus replace the Note Description with the Narrative attached to it under Quick Receipt, Quick Sales Invoice, Quick Sales Credit Note, Quick Purchase Invoice and Quick Purchase Credit Note. You can add a Narrative by opening Settings>Accounts>Standard Notes and then add your Narrative under a Nominal Code and click Save.