Distributed Cost Center
Distributed Cost Center Using a Distributed Cost Centre in ERPNext, you can post expenses across multiple Cost Centres based on predetermined percentages. This is convenient when costs are shared among departments, branches, or projects, such as when IT expenses are posted across Sales, Support, and R&D Cost Centres. You can post shared expenses accurately and avoid the […]
Accounting Dimensions
Accounting Dimensions In ERPNext Introduced in Version 16 This ERPNext accounting dimensions documentation explains how businesses can use dimensions to organize financial data more efficiently. Accounting Dimensions enable you to assign each transaction with your own custom dimensions like Branch, Business Unit, or Department. This concept is also known as ERPNext dimensional accounting […]
Cost Center and Budgeting
Cost Center and Budgeting In ERPNext, Cost Centers are essential for both financial management and budgeting. They represent the divisions, initiatives, or business units where costs are incurred. You can better examine budget performance and get a complete picture of spending patterns by connecting transactions to Cost Centres. With ERPNext, budgeting allows you to set Financial goals […]
Payment Order
Payment Order Bulk payments against suppliers are entered into an internal document called a Payment Order. The Purchase Manager usually decides which suppliers should receive payments in large organisations, and the Accountant (Accounts User) actually makes the payments. These roles communicate with each other through the Payment Order, which instructs the accountant to make the payments. A Payment […]
Payment Gateway Account
Payment Gateway Account The configuration for integrating ERPNext with third-party payment gateways such as Stripe, PayPal, Razorpay, and others is stored in a Payment Gateway Account. It contains the credentials (API key, Client ID, and Webhook secret) and other data required for ERPNext to process invoices, Website Checkout, and Payment Requests for online payments. Features Manage several gateway […]
Payment Ledger
Payment Ledger The Payment Ledger in ERPNext is a dedicated ledger that only holds transactions of Receivable and Payable accounts. A transaction is shown in the Payment Ledger only if the Account Type of the ledger account is Receivable or Payable. Example Assume a Sales Invoice of $1000 is posted, and a Payment Entry […]
Accounts Receivable and Payable
Accounts Receivable and Payable In the ERPNext Accounting Module, Accounts Receivable and Payable are the key to keeping a company’s finances in check. Accounts Receivable (AR): Monitors funds due to the company from customers for credit sales of products or services. Facilitates invoicing and payment monitoring and maintains positive cash flow. Accounts Payable […]
VAT or GST for multiple branches
VAT or GST for multiple branches In case your organization has different branches in the UK for VAT or GST for multiple branches, with different VAT Registration Numbers (VAT Reg Nos.) for each branch, ERPNext allows you to automate tax (VAT/GST) computation branch-wise. Step 1 – Update Branch-Wise Addresses Enter every branch address in […]
Additional Charges in Payment
Additional Charges in Payment Question: A Sales Invoice of a total amount of USD 177, including: Base price of the item = USD 143 Some additional transportation cost = USD 34 When a customer pays through a payment gateway, the gateway charges (let’s assume) USD 7 as a service Charge. How can […]
Include Tax or Charge in Valuation or Total?
Include Tax or Charge in Valuation or Total? In the Purchase or Sales transaction Taxes and Charges table, the “Consider Tax or Charge for” field (previously titled “Include Tax or Charge in Valuation or Total”) determines whether a tax or charge is included in the Item Valuation and the Transaction Total. There are three […]
