Phase 2 Complete

💰 Sales & Customer Success

Master the complete revenue management cycle with Versoll Books. From organizing your customer directory to creating GST-compliant invoices and efficiently collecting payments—this comprehensive guide covers everything you need to keep your sales cycle running smoothly and your cash flow healthy.

🎯 What you'll master in this guide:

✓ Building and managing a complete customer directory
✓ Creating professional, GST-compliant invoices
✓ Recording payments and tracking outstanding balances
✓ Using aging reports to stay on top of collections

1

Managing Your Customer Directory

Your customers are the heart of your business. Versoll Books makes it simple to organize and track every customer relationship, from small one-time buyers to major recurring clients. A well-maintained customer directory saves time and improves accuracy when creating invoices.

1

👤 Creating a New Customer

Navigate to Customers > New Customer to add a customer to your directory. Think of this as creating a complete business profile for each customer.

Essential Information:

  • Customer Name: Legal or business name (exactly as per their records)
  • Display Name: Shorter name for internal use (optional)
  • Email: For sending invoices, payment reminders, and statements
  • Phone: Primary contact number for follow-ups
  • Billing Address: Complete address where invoices should be sent
  • Shipping Address: Delivery location (if different from billing)
💡

Pro Tip: Consistent Naming Convention

Use a format like "Company Name - Location" or "First Name Last Name - Business". This makes searching and filtering much easier when you have hundreds of customers. Example: "ABC Electronics - Mumbai" or "Rajesh Sharma - Retail Store"

2

🏛️ GST & Tax Configuration

For Indian businesses, accurate GST tracking is critical for compliance and tax filing. When creating or editing a customer, configure their tax details carefully:

Tax Settings:

  • GSTIN: Customer's 15-digit GST Identification Number (e.g., 27AAAPL1234C1Z5)
  • State: Customer's state for calculating inter-state vs intra-state GST
  • Customer Type: Registered (has GSTIN) or Unregistered
  • Place of Supply: Automatically set based on state, but can be overridden

⚠️ State Matters for GST! If the customer's state differs from your company state, Versoll Books automatically applies IGST (Integrated GST) instead of CGST+SGST (Central + State GST). Incorrect state = incorrect tax calculation = filing problems!

✓ Same State

Apply CGST + SGST
Example: 9% + 9% = 18%

✓ Different State

Apply IGST
Example: 18% IGST

3

💳 Credit Terms & Payment Preferences

Define how and when you expect to be paid. These settings help automate due date calculations and prevent overdue accounts:

Payment Configuration:

  • Credit Days: Payment due period (e.g., Net 30, Net 15, Due on Receipt)
  • Credit Limit: Maximum outstanding amount allowed before alerts trigger
  • Default Payment Method: Cash, Bank Transfer, Cheque, UPI, Card
  • Bank Details: Customer's bank account for reference (optional)
🔔

Automatic Alerts & Due Dates

Versoll Books automatically calculates due dates based on credit terms and alerts you when credit limits are exceeded. This helps prevent bad debts and keeps collections on track!

2

Creating Professional Invoices

Invoicing is where your hard work turns into revenue. Versoll Books ensures every invoice is accurate, GST-compliant, and professional-looking. Let's walk through the complete invoice creation process:

4

📝 Starting a New Sales Invoice

Go to Sales > New Sales Invoice. The invoice form is intuitive and guides you through each required field:

Header Information:

  • Customer: Select from your directory (or create new on-the-fly)
  • Invoice Number: Auto-generated with customizable format (e.g., INV-2024-001)
  • Invoice Date: Transaction date (defaults to today but can be backdated)
  • Due Date: Automatically calculated from customer's credit terms
  • Reference: PO number, project code, or internal reference (optional)

Example Header:
Invoice #: INV-2024-045
Date: 15/03/2024
Due Date: 14/04/2024 (Net 30)
Customer: ABC Electronics - Mumbai
Reference: PO-ABC-789

5

📦 Adding Items and Services

In the Items section, add the products or services you're selling. Each line item requires specific details:

Item Details:

  • Item Name: Select from Item Master or create new item
  • Description: Additional details about the item (optional)
  • HSN/SAC Code: For GST compliance (auto-filled from item)
  • Quantity: Number of units sold
  • Unit: Piece, Kg, Hour, Box, etc.
  • Rate: Price per unit (before discount and tax)
  • Discount: Percentage or fixed amount per item
  • Tax Rate: GST rate (5%, 12%, 18%, 28%) - auto-filled from item

🔢 Automatic Calculations

Versoll Books calculates in real-time:

1. Line Total = (Quantity × Rate) - Discount

2. GST Amount = Line Total × GST Rate

3. Grand Total = Sum of all Line Totals + Total GST

6

🎨 Invoice Customization & Notes

Make your invoices more informative and professional with additional details:

Additional Fields:

  • Terms & Conditions: Payment terms, return policies, warranty information
  • Notes: Special instructions, thank you messages, delivery info
  • Footer Text: Custom message at bottom of invoice
  • Signature: Upload authorized signatory signature image
⚡

Save Time with Defaults

Set default terms & conditions in Settings > Invoice Defaults. They'll auto-fill on every new invoice, saving you time while maintaining consistency!

7

💾 Saving and Submitting Invoices

Versoll Books uses a two-stage invoice lifecycle to prevent accidental errors:

📝 Draft Status

Invoice is editable but not recorded in books. Use while finalizing details. No GL entries created.

✓ Submitted Status

Invoice locked and recorded in ledger. Creates GL entries: Debit Receivables, Credit Sales, Credit GST Payable.

⚠️ Important: Submission is Final! Once submitted, an invoice cannot be edited. If you need to make changes, you must cancel it and create a Credit Note. Always double-check before submitting!

📤 Sharing Your Invoice

After submitting, you can distribute your invoice in multiple ways:

  • Print PDF: Generate professional PDF for physical delivery
  • Email Direct: Send to customer's registered email instantly
  • WhatsApp: Share via WhatsApp for faster delivery (coming soon)
  • Export: Save as PDF for your records or customer portals
3

Recording Payments & Managing Collections

Creating invoices is only half the job—collecting payments is where cash flow happens. Versoll Books makes payment tracking simple, transparent, and accurate. Let's master the payment collection process:

8

💵 Creating a Payment Entry

When a customer pays, record it immediately for accurate cash flow. Navigate to Sales > Payment Entry or click Receive Payment from the invoice view.

Payment Details:

  • Customer: Who is making the payment
  • Payment Date: When payment was actually received
  • Payment Method: Cash, Bank Transfer, Cheque, UPI, Credit Card, Debit Card
  • Amount: Total payment received (can be less than invoice total)
  • Received In: Bank account or cash account where money is deposited
  • Reference Number: Cheque number, transaction ID, or receipt number

Example Payment Entry:
Customer: ABC Electronics - Mumbai
Date: 20/03/2024
Method: Bank Transfer (UPI)
Amount: ₹59,000
Received In: HDFC Bank - Current
Reference: UTR-2024032012345

9

🎯 Allocating Payments to Invoices

In the Invoice Allocation section, Versoll Books automatically shows all outstanding invoices for the selected customer. You can allocate the payment in three ways:

💯 Full Payment

Check the invoice to allocate entire outstanding amount. Invoice marked "Paid".

📊 Partial Payment

Enter custom amount for installment payments. Invoice marked "Partially Paid".

📚 Multiple Invoices

Allocate one payment across multiple invoices. Oldest first recommended.

🔄

Real-time Balance Updates

As you allocate payments, Versoll Books shows remaining amounts in real-time. Invoices automatically marked as "Paid" when fully settled. Customer balance updated immediately!

10

💰 Handling Advances & Credits

Sometimes customers pay before the invoice is created (advance payments) or overpay. Here's how to handle these scenarios:

Advance Payments:

  • Record Payment: Create Payment Entry without allocating to any invoice
  • Track Credit: Versoll Books tracks this as customer credit automatically
  • Apply Later: When creating future invoices, apply the advance credit to reduce payable amount

Overpayments & Refunds:

  • Leave as Credit: Keep excess as credit for future purchases
  • Process Refund: Create Payment Entry with negative amount or use Refund option

📊 Tracking Outstanding Payments

To monitor who owes you money and when payments are due, use these powerful built-in reports:

📈

Accounts Receivable Aging

Navigate to Reports > Accounts Receivable Aging to see outstanding invoices grouped by age:

  • Current: Not yet due
  • 1-30 Days: Recently overdue
  • 31-60 Days: Requires follow-up
  • 60+ Days: Critical collection needed
👤

Customer Ledger

View complete transaction history with any customer:

  • All invoices (increases balance)
  • All payments received (decreases balance)
  • Credit notes and adjustments
  • Running balance after each transaction

💡 Payment Collection Best Practices

✓ Record Promptly

Enter payments as soon as received to keep cash flow reports accurate and real-time.

✓ Review Weekly

Check Aging report every Monday to identify overdue accounts early.

✓ Follow Up Early

Contact customers 5-7 days before due date to prevent late payments.

✓ Reconcile Regular

Match payment entries with bank statements monthly using Banking module.

🚀 Quick Reference Workflows

🆕 New Customer Sale

  1. Create Customer Profile
  2. Create Sales Invoice
  3. Review & Submit Invoice
  4. Share with Customer
  5. Record Payment when received

🔄 Existing Customer Sale

  1. Open New Sales Invoice
  2. Select Customer from list
  3. Add Items with quantities
  4. Verify GST calculation
  5. Submit & Share

📊 Partial Payment

  1. Create Payment Entry
  2. Select Customer
  3. Enter Partial Amount
  4. Allocate to Invoice
  5. Track remaining in Aging

🎉 Phase 2 Complete! You now know how to manage the complete sales cycle in Versoll Books—from adding customers to creating invoices to collecting payments. Next, let's explore how to handle the other side: purchases and expenses!

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