Receivables and payables, with the aging that matters

Invoices you can actually send

Raise a customer invoice, pick lines from your product catalogue or type them free-hand, post it, and download it as an ordinary commercial invoice — the word INVOICE with a unique number, who is billing and who is billed, issue and due dates, itemised lines with quantity and rate, tax on its own line, the total in figures and in words, and the payment terms. Settled invoices print stamped PAID and cancelled ones VOID, so a reprint can never be mistaken for a demand for payment.

• Nothing internal appears on it — no unit costs, no ledger account codes
• The tax percentage is derived from the figures on the document, not from your current tax rate
• A customer’s default payment terms pre-fill the due date
• Only posted invoices can be downloaded, because a draft carries no computed total

Aging and statements of account

Both subledgers age into current, 1–30, 31–60, 61–90 and 90-plus buckets, and any party can be opened as a statement of account showing every document and payment against them. Unapplied credit and debit notes are netted off, so the aging and the control account agree rather than showing a permanent phantom difference.

Payments that settle more than one document

A single payment can be allocated across several invoices or bills, with the allocation recorded per document. Withholding tax deducted at source is handled as three separate figures — what settles the bill, what actually leaves the bank, and what is held as a payable — because conflating any two of them misstates either the bank or the liability.

Credit and debit notes

Issue a credit note against a customer or a debit note against a vendor, post it to move the ledger, then apply it to specific documents when you know which. Posting and applying are deliberately separate: the credit reduces what is owed the moment it is posted, whether or not anyone has said which invoice it relates to.