Qlomack CFO: invoices, payments and collections

Step 1: Numbering and defaults

Set the Invoice number prefix (INV by default), Default payment terms (days), default notes and terms, and the Payment instructions printed on every invoice. Choose Save settings.

Step 2: Tax codes

On the Tax codes tab, choose Set up tax codes for your country to add its usual codes (check the rates with your accountant), or Add tax code to make your own: a Name (for example VAT 20% or GST 18%), what kind it is (tax charged, zero-rated, exempt, out of scope or reverse charge) and its Rate %. A tax made of two parts, such as GST and PST, can have each part with its own account. Tick the default code for new lines and choose Save. Once a code is on a document its rate is fixed: archive it and add a new one when the rate changes.

Step 3: Logo, bank details and signature

Upload a Logo (PNG or JPEG, up to 500 KB) and fill in your Bank details for payment (account name and number, IFSC, bank, branch, UPI ID), the Authorised signatory and an optional Footer. They are printed on invoices, quotations and credit notes. Choose Save GST & branding.

Step 1: Turn on GST

Switch on Issue GST tax invoices, enter your GSTIN and State of registration, and optionally the Legal name on tax invoices. Choose Save GST & branding. The GSTIN is checked for typing mistakes.

Step 2: Add your customers’ GSTINs

On a new invoice or quotation, the GST card shows the customer’s GSTIN (or Unregistered) and their default place of supply. Choose Edit GST details to enter or correct the GSTIN; the state is taken from it. A valid GSTIN already saved as the customer’s tax number is used automatically.

Step 3: HSN and SAC codes

Each line has an HSN / SAC field. It fills in from the product’s HS code, and you can change it on the line (4, 6 or 8 digits).

Step 4: Place of supply and tax split

The Place of supply defaults to the customer’s state. When it is your own state the tax is split into CGST and SGST (half the rate each); for another state it is IGST. Totals are rounded to the paisa on each line.

• For customers abroad the Supply type is Export. Tick Under LUT / bond, without payment of IGST for a zero-rated export, or leave it clear to charge IGST. Supply to SEZ works the same way.
• Tick Tax payable on reverse charge when the customer pays the tax: it is shown on the invoice but not added to the total.

Step 5: The printed tax invoice

Print / Save as PDF shows “Tax Invoice” (or “Bill of Supply” when nothing is taxed), your logo, GSTIN and state, the customer’s GSTIN and the place of supply, HSN/SAC per line, CGST and SGST or IGST, a tax summary by HSN and rate, the amount in words (in lakh and crore for rupees), your bank details, a declaration and Authorised Signatory. The customer’s online link shows the same page.

Step 6: GST summary

Pick a period to see outward supplies on GST invoices by section (B2B, B2C, exports, SEZ) and rate, by HSN/SAC and rate, and the credit notes issued. Choose Export CSV for your own checks; the GSTR-1 JSON and GSTR-3B figures are under GST returns.

Step 1: Create a quotation

Choose New quotation, pick the Customer, check Valid until (30 days by default, set in GST & branding) and add the lines as on an invoice. Choose Create quotation. It is numbered QUO-YYYY-00001.

Step 2: Send it

Choose Send quotation to email it with a link to view it online, or Mark as sent from More actions if you sent it another way. Print / Save as PDF gives the printed quotation.

Step 3: Record the answer and invoice it

Choose Mark accepted or, from More actions, Mark declined. A sent quotation past its date shows as Expired; edit it to extend the date if the customer still wants to go ahead. On an accepted quotation, choose Convert to invoice to create a draft invoice with the same lines, GST details and terms.

Step 1: Create a draft

Choose New invoice and pick the Customer; their terms and currency fill in. Add a Reference if they gave you one. Add lines with Add line, choosing a product or typing a description, with quantity, price, discount and tax. Choose Create draft.

Step 2: Issue it

Open the draft and choose Issue invoice, check the Issue date, then choose Issue invoice again. The next number is assigned, the lines are locked and the due date is set from the payment terms. Leave Email the invoice to the customer now ticked to email it to the customer’s email address with a link to view it online.

Step 3: Send it to the customer

On an issued invoice, choose Send invoice. Check To (separate several addresses with commas), add any CC addresses, edit the Subject and Message, and keep Include a link to view the invoice online ticked. Choose Send invoice.

• Sent to customer on the invoice lists every email with its delivery status: queued, sent, failed or not sent because email isn’t set up.
• The online link opens a read-only copy of the invoice with your payment instructions, without signing in. Choose Copy link to share it yourself, or Revoke link to stop it working at once.
• Payment reminders include the link while the invoice has one.

Step 1: Record a payment you’ve received

On the invoice, choose Record payment. Enter the Amount (a part payment is fine), Payment date, Method (Cash, Bank transfer, Cheque, Card, UPI, Online or Other) and a Reference such as the UPI or cheque number.

• The invoice shows Partially paid until the balance is cleared, then Paid.
• A payment recorded by mistake can be voided with a reason.

Step 1: See who owes what

Receivables by customer lists outstanding and overdue amounts, with a Statement link for each customer. Aging report groups balances into current, 1–30, 31–60, 61–90 and 90+ days.

Step 2: Send a reminder

On an issued invoice, open More actions and choose Send reminder. Check the recipient and template and choose Queue reminder.

Step 3: Record a promise or a follow-up

From More actions, Record promise to pay saves the promised date and amount; it is marked broken automatically if the date passes unpaid. Create follow-up task adds a task in Tasks & Approvals.

Step 4: Turn on automatic reminders

Under Automatic reminders, switch on Send automatic reminders and set the days before and after the due date (3 before, and 1, 7 and 15 after, by default).

Step 1: Issue a credit note

Issued invoices can’t be edited. On the invoice, open More actions and choose Issue credit note. Enter the Reason, Amount before tax and Tax %, and it reduces the balance due. On a GST invoice the credit note’s tax is split the same way as the invoice (CGST and SGST, or IGST). Choose Print next to a credit note to print it.

Step 2: Or cancel the invoice

Cancel invoice is for invoices raised in error. Void its payments and cancel its credit notes first.

Step 1: Create a schedule

Choose New schedule. Enter a Name, the Customer, Frequency, Next issue date and an optional End date, then add the lines. Choose Create schedule.

• Invoices are created as drafts for you to review, or issued straight away if you switch on Issue automatically.
• With Issue automatically on, switch on Email each invoice to the customer to email every issued invoice, with its online link, to the customer’s email address. Customers without an email address are skipped.
• Use Pause and Resume on the schedule, or Run due now to create due invoices immediately.

Step 1: Record what you owe

Choose Record bill. Enter the Supplier, Supplier invoice number, Bill date, amounts and optionally the purchase order. Record payments to suppliers the same way as customer payments.