SedonaSetup - AR - Invoice Items

An Invoice Item is used for the individual line item charges entered on Customer Invoices and Credit Memos.  Each line on an invoice will be assigned an Invoice Item.  Definitions of each field on the Invoice Items setup form is shown below.

Invoice Items Field Definitions

  • Item Type:  Each Invoice Item is assigned to an Item Type, which is used to determine the tax-ability of the item.  For more information on sales tax, see Tax Groups and Tax Tables setup tables.  
  • Non-Deferred Income Flag:  If the Item Type selected is flagged as a Recurring Type Service, you may choose whether to defer the income for this invoice item code.  
    • If this option is checked, when generating an Invoice with this Invoice Item, instead of recording to the Income Account, the Deferred Income account will be used.  When you run the Deferred Income Recognition program (monthly), the amounts to be earned will be moved from the Deferred Income account into the Income Account associated with the Invoice Item.
    • If this option is not selected, when an Invoice is posted, amounts will not post to the deferred income account. 
  • Item (Code): The code you assign that users will be able to select from when creating lines on an invoice or credit memo.  The code does not print on the customer invoices.
  • Description:  Description for the Invoice Item; this will print on customer invoices.
  • Default Rate:  The default rate entered will be used on Invoices and Credits when selecting this Invoice Item, but may be overridden by the User if necessary.
  • Deferred Account:  If the Invoice Item will be deferred, most companies use one deferred income G/L account for the posting of all recurring services.  If you wish to post certain Invoice Items to different Deferred Income Accounts, then make a selection from the drop-down list.  You would first need to make certain you have more than one deferred income account created in the Chart of Accounts.
  • Account:  Each Invoice Item is linked to a G/L Account (typically an Income type account).  This is the G/L Account that will be credited or debited on invoice or credit memo transactions.  
  • Category:  The default category to be assigned to this invoice item. 
  • Job Costing:  If your company has purchased the integration with WeEstimate, this field is used to associate a cost type with the Invoice Item.  This field is for reporting purposes only.
  • Default Cost:  If a Cost Type was selected in the Job Costing field, you may enter the typical cost associated with this Invoice Item. 
  • Taxable Flag:  Determines if Sales Tax should be charged on this Item, if the item meets the sales tax rules for the taxing jurisdiction of the site location.  If this box is left un-checked, the Invoice Item will never be taxed.
  • Available for Sales Flag:  This flag is used in conjunction with third-party quoting software applications.  If this flag is selected, the invoice item will be exported to the quoting software.
  • Available for Service Flag:  If this flag is selected, this Invoice Item may be used to add charges to a Service or Inspection Ticket.