Preferences

A number of screens can be used to specify the options for your application. Click on the icon to gain access to the Preferences section.

Accounting Period

This section allows you to specify the start of your three main accounting/reporting periods:

• the start of your financial tax year (where corporation tax and income tax are based on)
• the start of your company reporting year (where your balanced sheet is based on)
• the start of your VAT quarter (where your VAT calculations are based on)

Application Look and Feel

Various options relevant to the look and feel of your application

Invoices

Options related to the processing of invoices. You need to specify a ledger account which is designated your invoice account. This application will then be able to identify transactions which are related to your invoices. This is necessary for the purpose of invoice tracking and reporting. If you look at the ledger accounts section in your Book Explorer, you will see the ledger accounts configured  to be invoice related will be shown with the icon instead of the usual icon.

Under the Company Details section, you can enter the particulars of your company. This information will be printed at the top of each generated invoice.

Tax Bands

The tax bands are used to calculate the tax amounts for each transaction. The bands are preconfigured for the UK Value Added Tax (VAT) bands, but can be modified for other countries. These tax bands are available as a convenient drop down in the invoice and some other screens to facilitate the automatic calculation of taxes on each transaction.