Till now we have studied about various useful features present in Accounts Receivable module, in today’s blog we will discuss about Invoice type feature in the Accounts Receivable invoices.
If you are service type of industry which do not involve physical inventory, in this case you will be using directly AR invoices to generate the customer invoices. In which you have 2 options of creating AR Invoices:-
- Summary Invoice
- Detail invoice
1. Summary Invoice: When the case in service industry where the service cannot be physical defined you will not be able to create AR item for those service or define price list in AR, you can use Summary invoice type, where user has facility to select directly the revenue GL Account which is assigned to the service.
2. Item: Item invoices include details about AR items. Using the Item type invoices you can update receivables records as well as the revenue, inventory, and cost of goods sold general ledger accounts for the AR Items created.
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