Transaction entries: invoices, receipts, and pay slips
How to record the amount, line items, taxes, and currency of invoices, receipts, and pay slips in ReChive.
Transaction entries are ReChive entries that involve money: invoices, receipts, and pay slips. When you choose one of these types in the entry form, ReChive asks for the amount of the document and its currency. For invoices and receipts, you can enter only the grand total or the full breakdown of line items and taxes. For pay slips, you enter the gross and net salary.
Invoice, receipt, or pay slip?
- Invoice: a request for payment for goods or services, usually paid at a later date. ReChive keeps track of whether a received or sent invoice has been paid. Unpaid received invoices appear in the "Payable invoices" card on the "Home" tab, and unpaid sent invoices appear in the "Receivable invoices" card.
- Receipt: proof of a payment that has already been made, such as a till receipt or a confirmation of an online purchase. If you already have an invoice entry for the same purchase, add the receipt to that invoice instead of creating a new entry. See Recording a payment for an invoice.
- Pay slip: the salary statement you receive from your employer. Pay slips are only available in personal workspaces, are always received, and are always saved as done.
The type and the direction of a transaction entry cannot be changed after the entry is saved.
Entering the amount of an invoice or receipt
Below the basic fields of the form, choose how detailed the amount should be:
- "Summary": enter only the grand total of the document. The line items are not saved.
- "With line item": enter each line of the document. ReChive calculates the subtotal, the taxes, and the grand total for you.
Line items
When you choose "With line item", click "Add an item" for every line of the document and fill in:
- "Description": what was sold or bought.
- "Qty": the quantity.
- "Rate per unit": the price of one unit.
- "Product" (optional): one of the products of your workspace, which lets you find all the entries for a product later.
At least one line item is required. To remove a line, delete it from the list. You can restore it before saving if you change your mind.
Taxes
Click "Add tax" to add a tax line, such as VAT or sales tax, with its own description and amount. Tax lines are shown separately under "Tax", so the entry shows the "Subtotal", the "Taxes", and the "Grand total" of the document.
Entering the amount of a pay slip
For a pay slip, enter the "Gross salary" and, optionally, the "Net salary". The net salary cannot be larger than the gross salary. The entry then shows the gross salary, the deductions, and the net salary.
Currency and exchange rate
Every transaction entry has a currency. By default, it is the main currency of your workspace. If the document is in another currency, select that currency in the form:
- ReChive fills in the "Exchange rate" between the document's currency and your workspace's currency for the date of issue. You can change the rate if your bank used a different one.
- The form also shows the grand total converted to your workspace's currency.
- The entry itself keeps its original currency. The converted amount is only used for display.
When you record the payment of a foreign currency invoice, you enter the actual amount you paid or received in your workspace's currency, and ReChive updates the exchange rate of the entry to match. See Recording a payment for an invoice.
Due dates for invoices
For invoices, the "Due date" is the payment deadline. Unpaid invoices with a due date appear in the "Pending" list and on the "Home" tab, and the members who receive workspace notifications get an email on the due date.
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