Some companies use “service” loans in their daily operations. Are you one of those who have to charge for loaning services from one sister company to another? Collabox allows you to do this. This is what we call inter-company billing.
How inter-company billing works
First, if it is two corporations, you must have two Collabox accounts as two separate income statements are required. Otherwise, a single account is sufficient. From there, it will be possible to carry out your inter-company billing very easily.
Next, you need to create a service invoice in Company A and send it to Company B for which it becomes a disbursement.
In short, you must use the income and disbursement functions of your companies to properly manage your billing. Thus, a service loan is a revenue for the first company, while it becomes a disbursement for the second, and vice versa.
Approval of disbursements is usually done by a superior, manager or administrator. You must give him access to the approval of disbursements in the employee configuration formmenu tab. Once the employee has access to this function, he/she will be able to approve the disbursements.
Then go to the Accounting module in the top main menu.
In the left menu, see the Disbursements function.
When the disbursement approval is up to date, you will not see anything new. However, if disbursements are pending approval, the new functionality will be present.
This is a red number in parentheses, like this one.
In this example, it indicates that there are 12 disbursements waiting for your approval in Collabox. Disbursements awaiting approval also have a red icon to make them easier to find.
When a disbursement is approved, the circle turns green.
Special situation
There may be times when a disbursement has several elements, but you are only able to approve one part. In this case, the circle turns blue.
Do you have several project managers preparing invoices? Others need to consult them, but should not modify them? Simply ask Collabox for an invoice approval to stay in control.
Access to billing
First, you decide who has the right to create and view your company’s invoices. Then, go to the employee record to give or remove access to the billing.
Select “Configuration” at the top of the page, then “Employees” in the left menu.
Choose an employee whose access is to be modified, then click on the “Menus” tab.
Scroll down the page until you see the “Billing and Accounting” module. Check the Billing box if you want to give access, or uncheck it to remove it. Save your work.
Now, still in the employee’s file, select the “Advanced configuration” tab.
Scroll down to the Accounting Module. There are several access options available to you. You can approve invoices for which you are responsible, or the entire company’s invoices. You can view the invoices in edit or view only the invoices for which you are the account manager. The choice is yours.
Invoice approval
When you are the approver of invoices, you have an action to take before you can send them to the customer.
First, open a new invoice and check the information. Make changes as needed. Then, at the bottom of the page, click on the “Approve Invoice” button.
In the list of invoices for the current month, a green check mark appears next to the approved invoices.
When they are pending approval, a red alert message is visible at the top of the invoice and no check mark is visible.
Collabox allows you to export to Sage 50 to facilitate your accounting with an external software. Contact us to take advantage of this option.
Exporting invoices
To access the Export to Sage 50 page, first go to the “Accounting” main menu.
Then, go to the left menu in the “Export” section and select the “Export to Sage 50” feature.
Then check all the invoices to be exported.
When you press “Export invoices”, it creates an .IMP file.
Save the file in an easy-to-remember location.
Importing into Sage 50
First, open the “File” tab and scroll down to the “Import/Export” option. Then select “Import Transactions…”.
Choose the second option presented since you want to import sales invoices.
The software recommends to make a backup of the data before importing, free to you.
Then browse your computer to find the .IMP file you saved earlier.
You will then be asked the following questions for each invoice to be imported.
If the client does not exist in Sage 50, you are asked to create it or associate it with an existing client. If a client of the same name exists, you will not see this step, because the client will be assigned to the one of the same name automatically.
Next, you will need to associate each invoice item with the corresponding items/accounts in Sage 50.
If you use the same product numbers in Collabox as your items in Sage 50, you can check the following box in your Sage 50 clients to skip this step:
Modify a client:
Your invoice items will be associated automatically, as long as they exist in Sage 50.
We present you the method to enter a disbursement in the Collabox “Accounting” module.
There are also other ways to keep track of your disbursements, such as in the timesheet or in the project sheet.
1- Click on the -Disbursements- function located in the left menu of your Collabox.
2-Click on the link -add a disbursement-.
3- Fill in the 4 mandatory required fields. Add a new supplier if needed. Don’t forget to select the right payment method, this will avoid problems during the bank reconciliation.
Thereafter, the other fields that appear on this page can be used as needed to enter a disbursement.
4- Then, you have to complete these 3 fields. Then click on the button – calculate taxes. Note that the Collabox calculates the taxes for you, but if you have a disbursement without taxes, you must uncheck the “taxable” box and press the button – Calculate total only.
Visionnez plusieurs vidéos sur notre chaîne Youtube et visitez notre section Trucs et Astuces dans le Blogue pour poursuivre votre configuration Collabox!
En tout temps si vous avez des questions, communiquez avec nous et il nous fera plaisir de vous répondre.
You are using the Time Sheet Module in Collabox and you do business with Nethris to do your payroll?
We can simplify your life by creating a file specific to your pay conditions (earning codes and others) thanks to the different data produced by the timesheet entries and displayed by the Report by employees.
This automatically created file is then sent to Nethris for payroll entry.
Get this service now!
In addition to Nethris, Collabox is also compatible with several other payroll software and systems, such as Employer D, Advantage, Quickbooks, Sage 50, Square, Dropbox and Paypal.
Dropbox compatibility offers instant project creation in both systems for quick sharing with your team.
Our dedicated team of programmers is here to help you make your digital shift with Collabox! We offer you a complete ERP and CRM service for the comprehensive management of your company. From timesheet entry to project or order preparation to invoicing, it’s all there. Customer follow-up is optimal with the CRM module, while your budget is properly managed with the Accounting module (including the general ledger and the balance sheet).
If you have any questions, you can contact us at any time and we will be happy to answer you.
The Collabox allows you to easily manage your employees’ expense and mileage accounts. You can also create reports related to these expenses for optimal management.
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The first step is to configure the mileage in the employee record, under the RATE tab. This step is necessary for the calculation of the expenses to be reimbursed to the employee.
Next, you need to define your types of expenses. To do so, you click on the “Accounting” tab in the main menu (top of the page). Then select – Define Expense Types – from the left-hand menu.
The Collabox allows you to choose your types of expenses, according to your preferences. You can also edit and add specific fields as needed.
When the configuration is complete, the expense and mileage accounts are filled in via the employee’s timesheet. It is up to him to enter his expenses in connection with the right project, customer or service.
In addition, you can add directly at the bottom of the timesheet, via a custom field, the invoices or any other document associated with the expense entered. This greatly facilitates the accounting management of your company.
For the efficient management of expense accounts, it is possible to create a complete report per employee. This report allows for theapproval of expenses by a manager (project manager, supervisor, etc.) and the transformation of the expense into a disbursement for the company. The expense is automatically displayed in the monthly list of disbursements.
To turn the expense into a disbursement, you must first ensure that the employee is a supplier to your company. Since the expense is always associated with a supplier, this step is crucial.
To do so, click on “add a supplier” in the configuration menu.
Then, fill in the desired fields so that your employee’s name is the supplier.
Now convert your disbursement via the expense report.
If you have any questions at any time, you can contact us and we will be happy to answer your questions.
Payments” in the Collabox, refers to receipts from services or products sold. Thus, for each invoice created in the system, a remittance entry must be created.
In order to correctly record these operations, an internal control of the receipts is necessary. It is therefore important that you assign a number to your invoices, which Collabox does automatically for you when you create the invoice.
Also, you should plan to create a list of payment methods that are normally accepted by your company. Like for example:
checks,
credit and debit card payments,
bank transfers,
direct debits,
bank deposits
cash,
Square,
Paypal, etc.
By exercising key Collabox principles, such as experience accumulation and single entry, Collabox has succeeded in simplifying the visualization and access to interdependent data. From the same environment (the same screen), Collabox offers you the possibility to view the invoice, payments (installments) and disbursements related to a product or service. A simple management tool that will enrich your business processes.
Create a payment
There are two ways to access the payment creation functionality. a) From the menu on the left of your screen under the link Payments b) From an invoice
a) From the menu on the left
Click on the Accounting icon
Go to the grey menu on the left and click on payments
Click on Add a payment
Enter the data
Register
Enter the data
b) From an invoice
Fill in the necessary information to find your invoice and once the list of results is displayed, you can click on the #invoice or the date. This action will give you access to the different tabs available. In particular and the one that interests us: payments.
Once on the tab, you will have the option to add a payment and also view if a payment has already been entered. According to your choice, you will have to indicate the terms of your payment as already explained in the images above or consult the payment already entered, if you need.
Internal control and liquidity
If compliance with your internal business policies, prevention and detection of fraud and errors, and ensuring the accuracy of your accounting records are important to you, the ease of use of Collabox will fulfill your need to exercise your internal control and decision-making processes with peace of mind.
Collabox has everything to help you manage your products and inventory.
It should be noted that depending on your sector of activity and your management tools already in place, your needs will be specific and different from a company that looks like you. Since Collabox is a customizable software that serves its customers, nothing is impossible!
Collabox adapts to your needs thanks to a team of dedicated programmers. We are also here to guide you and answer your questions.
Here are the main features of the “products” in the Collabox.
1- Establishing your budget items associated with your products and related to your billing. 2- The development of your service offer (tender) by products
3- The detailed “product” sheet
The product sheet allows you to manage the product specifications in addition to managing the inventory. In the same form, information about prices (minimum, list price), commissions and others.
5- Managing your inventory by product 6- The report “history by products” which gives you a display of everything that is active, among other things to manage the inventory.
Managing products is easy with Collabox!
If you have any questions, please contact us and we will be happy to answer you! info@collabox.com (418) 907-9274
Collabox makes year-end preparation quick and easy!
With the complete accounting module, you have everything you need to keep track of your company’s revenues, expenses, invoices and payments in real time. You can generate reports and keep an eye on your finances at all times. You gain in productivity and accelerate your fiscal year-end process.
Here’s how to do your year-end closing.
1- Bank reconciliation
First, perform your monthly bank reconciliation for each bank account through the “Transactional Account” tab on the left side of your screen.
Then select the account to be reconciled. For example, your bank account, your corporate credit card, your payment transaction accounts if you have them and any other accounts you use for your corporate operations.
Perform the bank reconciliation every month to better manage your bookkeeping.
2- Year-end audit
Perform the audit to balance your invoices and disbursements.
Go back to the “Accounting” menu and select the “Audit” tab at the bottom of the left-hand menu.
Select the month or year you want to check, then choose the invoice or disbursement option. You must also check accounts payable and payroll.
When disbursements or invoices to be verified appear, click on them to view them.
Most of the checks that need to be done are related to the budget item. Allocate the invoice amount to the correct line item to obtain a “remaining amount” of $0.00.
2.1. Expense report
Finally, check the disbursements of the employees via the expense report.
3- Manual verification of your accounts receivable and accounts payable
Before creating the reports for the end of the year, update your accounts receivable and payable via the “Accounting” module.
4- Verification of the income statement
Next, look at the income statement and make sure there are no recurring planned expenses, such as insurance.
5- Closing of month
Finally, close the months of the completed year to avoid unintentional data entry errors. Go to the “close month” tab.
Then select the month(s) to be closed. At any time, you can reverse your selection by deselecting and clicking on “Close Selected Months”.
6- Collabox – Year-end documents for your accountant
From the Collabox, you can create General Ledger, Balance Sheet, Line Item and all your transactional accounts. You also have access to the income statement, accounts receivable and accounts payable. Finally, the inventory of your products is available, if applicable.
To create PDF documents, simply press the “Control P” keys on your keyboard.
7- Other documents for the accountant
In addition to the documents from the Collabox, your accountant will need 13 bank statements for the 12 months of the year to be closed and the first month of the following year.
Then, if necessary, you will have to produce the company’s minute book, as well as the company’s letter.
Finally, depending on your situation, you may need to add the following documents:
Home office expenses (make an invoice and include it in the disbursements)
Access codes for Clic Séqur Express
A power of attorney for RQ, CRA and CNESST
These are the actions you need to take to complete your financial year-end. Of course, your financial advisor or accountant will guide you if you have more specialized questions.
If you have any questions at all, you can contact us, we will be happy to answer.
