Finance
Here you can set the operating currency your business uses. This will be used as the currency for financial reporting as well as the default billing currency for a quote/consignment. Costs can be set to default to their original currency or be converted to the billing currency.
You can set the default tax rates that apply to costs and revenue.
Default tax rates for costs and revenue can be set independently to support external financial management systems.
You can also set the date for your company’s financial year end date.
General Finance Settings
Here you can set the default currency and tax rate that is automatically applied to rates that you attached to quotes and consignments.
You can also set the date for your company’s financial year end date.
You also set the default payment terms for consignments here.
You are also able to set the default state (Estimate/Actual) of rates that are entered.
Target Markup %
This is used to set the target percentage (%) markup on costs to be made on consignments, based on transport mode that is selected for a consignment.
Markup % = ( ( Total Revenue - Total Costs ) / Total Costs ) x 100
Target Profit Margin %
This is used to set the target percentage (%) profit margin on revenue to be made on consignments, based on transport mode that is selected for a consignment.
Profit Margin % = ( ( Total Revenue - Total Costs ) / Total Revenue ) x 100
Quotes
Set how the reference for quotes is constructed when a new quote is raised.
Set the number of days a quote is valid for and how many days after it is created should it be followed up.
You can also choose whether documents attached to a quote are transferred to a consignment when a quote is won.
Purchase Orders
Here you can configure the reference number if you are not using an external system to generate reference numbers.
Only {ref} and {date:date-type} codes are valid for use in the purchase order reference configuration.
All other tags will be ignored!
Invoices
You can configure how an invoice reference is constructed.
Here you can set the lead time on an invoice and a duty/VAT invoice. After this time, the invoice is considered overdue if not paid in full.
Payment terms options:
Options | Description |
days after invoice date | add the number of days specified to the invoice date |
days after end of month | add the number of days to the last calendar day in the month of the invoice date. 0 will set the date to the last date of the month |
of next month | a specific day of the next month after the invoice date |
of current month | a specific day of the month of the invoice date. If the date has already passed, the same day of the next month will be used. |
When calculating the due date of an invoice, if the specified date does not exist, the earliest actual date will be used.
You can also configure the email settings for invoices that are automatically issued to customers.
This includes:
- The email address used to send invoices
- The name that the emails come from
- Adding an email address to CC when sending an invoice
This only applies when invoices are set to approved and then automatically sent out.
QUICKBOOKS INTEGRATION
For CocoonOPS to be able to create a product/service in Quickbooks you need to specify the name of the account in the Chart of Accounts that the new item will be linked to. This must be identical to the name of the account in Quickbooks and is case sensitive.
Bulk Invoicing
Bulk invoicing requires the BULK INVOICING addon!
Bulk invoicing allows you to group charges from multiple consignments into a single invoice.
When then bulk invoicing is scheduled to run, any revenue in the Actual state attached to consignments that are Ready For Billing will be invoiced.
The billing schedule set here is use or billing accounts that have not had a billing schedule set or disabled.
You can to select:
- Billing Frequency
- Disabled
- Daily
- Weekly
- Monthly
- Which day the bulk invoices are created
If the billing frequency is set to Disabled bulk billing will not be run unless explicitly turned on for a billing account.
Invoices will automatically be created in the DRAFT state at 06:00 (Europe/London) based on the selected schedule.
Once approved, invoices will be automatically issued to customers.
Credit Notes
You can configure how a credit not reference is constructed.
Related Articles
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