We have some great new features in AutoEntry between July and August. Here's a summary and a link through for more information on each topic:
Tax categories and Auto Calculations
We have had many requests to improve how AutoEntry handles the tax on purchase and sales invoices where the tax amount might not actually be on the invoice. Firstly, we have a new layout for the single invoice view where the tax category has now moved to beside the net/vat/totals:
Now, several automated functions will happen:
- Where no tax code has been previously saved, AutoEntry can suggest a tax code where a match is found (the tax is 20% of the net, then the 20% code is suggested as above). This can now be setup under the company settings page:
- Where no tax value is present on the invoice, selecting the relevant vat code will calculate the tax amount and total (on a tax exclusive basis only).
- If a previously saved tax code does not match the tax amount on the invoice, an error will be shown to alert you.
- If Line Item extraction is used, selecting a vat or category code in the main header drop-down, this will apply that code to all line items together if required.
- If the Net/Vat/Totals change when selecting a new tax rate, a reset button appears that you can reset the values to the extracted values.
Specific addition for Australian Xero and QBO users
For all new integrations, AutoEntry will populate the auto-suggest tax rates for the 0% and 10% GST values. For current companies and integrations, you can still add the rates manually as above. AutoEntry will simply auto-populate them going forward. As there is essentially only two GST rates (0 and 10%), AutoEntry will assume the rate to use but this can be edited at any stage.
Tax Inclusive/Exclusive for line item extraction
When line items are extracted for an invoice, you can now select if the invoice is tax inclusive or exclusive whereby the net or total will be automatically recalculated when the relevant tax code is selected for that line. See more HERE.
Billable Expenses for Xero and QuickBooks Online users
When publishing an invoice to QuickBooks Online or Xero you can now assign that invoice as a billable expense to a specific customer either at a header level for the complete invoice or on a line item/tax summery level. See HERE