Inomial Billing News – July 2018

It will take us a bit longer to update the Smile interface itself, our support documentation and online presence with the name change. This will happen over the coming weeks. If you have any questions regarding the name change please do not hesitate to contact us.

• If an error occurs accessing Doxy, Inomial Billing will now attempt to render the document locally
• Optus Wholesale Gateway CDR importer now supports zipped files

• generate invoices, including manual invoices
• send the invoices to customers
• accept payments
• track overdue payments
• control debt

The following topics explain how Inomial’s accounts receivable features work.

Open item accounts
Inomial Billing is an open item accounts receivable system.

Open item accounting is different to balance-forward accounting. An open item accounts system allocates every payment to an open item (a transaction with an outstanding balance). Transactions are allocated to open items until the item has a balance of zero and is closed.

In an open item accounts system, you can specify the invoices that a payment is allocated to. For example, you can allocate the customer’s payments to specific invoices and leave a disputed invoice unpaid.

More information

Transaction overview
A transaction is a financial event that affects an account. Transactions are the basis of Inomial Billing’s accounts receivable system. Inomial accounts have an account history that lists every transaction raised against each account throughout the account’s lifecycle.

Allocated transactions
Because Inomial Billing is an open item accounts system, each transaction can be allocated to another transaction. An allocated transaction does not have to pay an open item in full, and a transaction can have more than one transaction allocated to it. Inomial automatically allocates transactions to each other, with some exceptions.

Debit and credit transactions
In Inomial Billing, credit transactions have negative values because they decrease the account balance, that is, decrease the amount the customer owes. Debit transactions have positive values because they increase the account balance, that is, increase the amount the customer owes.

Itemised transactions
An itemised transaction lists the charges within the transaction. For example, an invoice contains a list of the invoice items that make up the invoice balance.

More information

Account types help you report on different groups of accounts in your company. For example, an organisation that owns several companies may have a different account type for each company, or your company may have different account types for GST exempt and non-GST exempt accounts.

Account types apply to some financial and credit control reports, including the sales report, trial balance report and aged debtors report. You choose the account type to report on when you generate the report, or you can generate a report for all account types.

An account’s account type is defined in the package you use to order the account. You can change this default account type after the account is created.

How to change an account type