Quick_Start_Guide_-_SB_v.3.9.doc. Table of Contents

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2 Table of Contents How to Use This Guide...3 System Requirements...3 Need Assistance?...4 Welcome...4 B-free Products...5 Overview...6 Step by Step Guide to B-free...8 Creating a Bank Account...9 Selecting Categories...11 Downloading Bank Transactions...12 Manually Importing Bank Transactions...13 Transaction List...14 Transaction List Tools...15 Identifying Transactions...16 Add Quick Business...16 Rules for Creating a Search Phrase...18 Quick Identify...20 Quick Edit...21 Bank Transfers...21 Cheques...22 Adding a Cheque Book...22 Entering Cheques...24 Cheque Transactions with B-free Cheque Book...25 Cheque Transactions without B-free Cheque Book...25 Jobs...26 Completing Your BAS...27 PAYG Options...27 Audit Transactions...28 Finalise BAS...29 Invoicing...30 Invoice Settings...30 Creating an Invoice...32 Invoice Management...34 Credit Notes...35 Invoice Reports...37 Budgeting...38 Enter a Budget...38 Budget Report...40 Budget Graphs...41 Budget Groups...42 Need Assistance?

3 How to Use This Guide The B-free product range listed in the section B-free Products will be referred to as B-free in this and any other guides. Before reading this guide it is important to understand the Notational Conventions used. Bold Title Case Italics NOTE: Items displayed in bold text within a sentence denotes an item within the B-free software, such as a button or a field which must be used. Used to refer to the name of any window, program or group of items. When you are prompted to enter information into a field, the example text will appear in italics. Supplementary information. System Requirements Minimum OS: Windows XP, 2000, Me, NT 4 (Service Pack 6) or 98 Monitor: 16-bit colour 1024x768 screen resolution. Internet Browser: Microsoft Internet Explorer Internet Connection: 56Kbps dial-up internet connection. Hard Disk Space: Approximately 160MB free. Recommended OS: Windows XP or Internet Browser: Internet Explorer 6.0. Microsoft.NET Framework 2.0 Internet Connection: High-speed Internet connection. Other: Microsoft Office 2000 or later (for viewing exported reports) Adobe Flash (for viewing graphs). Adobe Reader (for viewing exported invoices). Both Adobe products listed above can be downloaded from 3

4 Need Assistance? B-free offers multiple levels of support, should you face any difficulties or have any questions, the following support services are available: Help Modules are available on every screen which describe elements of each screen and can provide help in most situations. Documentation and user guides, such as this. Online FAQ s (Frequently Asked Questions) located on our website - Telephone Support: Available Monday to Friday 9:00 am to 5:00 pm EST (Australia) (International). Support: support@b-free.com.au. This document may be updated periodically. To check whether this has been updated, type the following link into your web browser: Welcome There is nothing like the freedom of running your own business but the paperwork and account keeping can drain your enthusiasm, time and energy. B-free is tailor made for small businesses and contractors. All you need is access to internet banking and the intuitive B-free software. No need for double entry book-keeping, no confusing accounting jargon and no previous experience required! If you can read your bank statements then you can successfully prepare a basic set of accounts using B-free. Best of all, B-free is an online product that eliminates data entry by allowing you to download and directly import your own bank and credit card transactions from your financial institution. This guide is designed to teach you the basics and get you started. 4

5 B-free Products Personal No GST Small Business Multi-Business Accountants / Financial Advisor Advanced Budgeting Track Your Finances Reporting Exporting to Documents Unlimited Technical Support Multi User Multi Site Cash Flow & Loan Forecasting Invoicing Track GST BAS Preparation Multi Client/Business Exporting to MYOB & Quicken For more information on the entire range of products from B-free, please visit our website or contact our sales team on (Australia), (International) or sales@b-free.com.au. 5

6 Overview Identified below are the major elements which will feature on screens within B-free. This section provides an introduction and explanation of these elements and how to use them. Screen Tabs Current Period Top Menu Side Help Workflow Tabs Screen Tools Working Screen Loading Indicator Screen Tabs The Screen Tabs appearing at the top of the screen show which window you are currently working on. This is useful when downloading bank transactions from multiple internet banking sites. The small red cross on the far right of the screen will close the currently selected tab. Top Menu Appearing at the top of every screen, these menus allow you to navigate within B-free. Clicking on a menu will display the options available to select and clicking on a menu option will open the screen. Workflow Tabs Most screens you will encounter within B-free display these Workflow Tabs towards the top of the screen, as shown below. These tabs may change depending on the function you are performing or the screen you are working on. The workflow helps you to navigate important sections within B-free. 6

7 Current BAS Period The menu appearing on the top-right of the screen controls the date range of data you wish to display. You can change to a different BAS period by clicking on the menu and selecting another period. Side Help Appearing on the right of every screen, the topics displayed provide help with the current screen you are working on. Clicking on a heading will display the help text, to close the help topic click on the heading again. You can show/hide the Side Help information by clicking on Show/Hide Help located just below the Current Period menu. Working Screen This area will display your data and screens for you to interact with, such as displaying transactions, reports and graphs. Loading Indicator The Loading Indicator at the bottom of the screen is a green bar which will appear when pages are loading or when the software is performing calculations. If the software appears to be doing nothing, look for this loading indicator or wait a short time and the screen will load. Screen Tools Refresh Clicking on this button will refresh the information displayed on the screen. This is important when you have added information and you wish to update the list. Printing To print a copy of the information on this screen, click on the printer icon. A new window will open showing you exactly what will be printed. Export When this option is available on a screen it will appear as one of three icons displayed above. This button allows you to export information within the current period to a spreadsheet, document or PDF. 7

8 Step by Step Guide to B-free The steps below will guide you through the process of setting up and using B-free for the first time. If this is your first time using B-free, it is advisable to follow this guide from beginning to end. Otherwise, if you are familiar with B-free, this guide can be used to quickly refresh yourself on a particular section or concept. And don t forget, if you are not sure how to proceed, contact our friendly support staff. STEP 1 Create bank accounts in B-free. STEP 2 Import categories. STEP 3 Download your bank transactions. STEP 4 Review and categorise transactions appearing in the Transaction List. STEP 5 Enter cheques. STEP 6 Manage jobs. STEP 7 Completing your BAS. 8

9 Creating a Bank Account When using B-free for the first time, you will be prompted to create a bank account. All bank accounts used for your business must be created on this screen before you can download transactions into B-free. There are no limitations on how many accounts you can create or how many transactions each account can hold. NOTE: The only information B-free requires is the name of the financial institution. No other information such as account numbers will ever be requested by B-free. If you do receive such a request please call our office and report the incident. To create a bank account in B-free, follow the instructions below: 1. If you are not currently viewing the screen shown above, select New Bank Account from the Set Up menu. 2. Select your financial institution from the Bank Name menu. If your financial institution does not appear in the list, please contact our office. Once we have investigated the financial institution to ensure their services are compatible with the B-free, we will add the financial institution. 3. Enter the name for the account you are creating in the Account Name field. For example, John Smith Savings. 9

10 4. Select the Account Type from the menu. 5. Enter a Short Name for the bank account you are creating. This is a simplified name which allows you to quickly and easily identify this account. For example, Savings. 6. Optional The Opening Balance and Date can be used in certain reports to track account balances. If this information is not readily accessible, you may return at anytime and enter these details. To enter these details, view your transactions on your internet banking website. Select a date which is within the period you wish to download and one which is at least one week old. By choosing a date which is at least one week old, you can be confident all transactions have been processed by your financial institution. Using the example below, the transaction on 17/05/2006 is the last transaction for that day. This amount will become the Opening Balance for the next day. Therefore the Opening Balance will be $ and the Opening Balance Date will be 18/05/ Once you are satisfied with the information entered for this bank account click on the Add Account button to save the details. If you wish to create additional bank accounts, repeat the process listed above. The details entered for your created bank accounts can be edited at any time, by selecting Edit Bank Account from the Set Up menu. 10

11 Selecting Categories A list of preloaded categories has been provided which cover a broad spectrum of income and expenses. The categories listed on this screen can be imported or if you wish to create your own categories, select Add/Edit Category from the Go To menu. To import categories, follow the instructions below: 1. If you are not currently viewing the screen shown above, select Import Categories from the Set Up menu. 2. Select the categories you wish to use by placing a tick next to each category. Alternatively, place a tick in the first box at the top of the list which will select all categories. 3. Click on the Import button at the bottom of the list to import the selected categories. The selected categories can be viewed by selecting Add/Edit Category from the Go To menu. All imported categories can be edited and if required, new categories created. 11

12 Downloading Bank Transactions There are two processes available to download transactions into B-free software. The automated process which automatically loads the transactions into the B-free software will be described in this section. The second process is a manual method and will be described in the next section. By downloading your transactions directly from your internet banking website, you can virtually eliminate tedious data entry and speed up the process of preparing your accounting records. 1. If you are not currently viewing the screen shown above, select Download Bank Transactions from the Go To menu. 2. Select your Bank Account from the menu. 3. Clicking on the image of your internet banking website will load the banking website. A new window will open, this is your internet banking website and can be securely accessed as you normally would in your internet browser. 4. Log into your internet banking and export the transactions you wish to load into B-free. If you are unsure how to export transactions, a walkthrough is located on the right side of the screen in the Side Help. Select either QIF or Quicken AUS as the file format for the exported transactions. You will receive a prompt to save the file, click on Save and the B-free software will capture the file and import the transactions. 12

13 NOTE: Remember to select the Screen Tab for your internet banking website and logout as you would normally. 5. Should you wish to download transactions for another bank account, repeat the process outlined above. If you experience any difficulties during this process, help modules on the Download Bank Transactions page can guide you through the process for exporting from your internet banking website. Alternatively, if you wish to have someone guide you through the process, please contact our support staff. Manually Importing Bank Transactions The automated process is the second method as mentioned in the previous section. This process is available if you are concerned about security or if you have multiple accounts with the one financial institution. 1. To use the manual process, open your web browser and browse to your internet banking website. 2. Log into your internet banking and export the transactions you wish to load into B-free. If you are unsure how to export transactions, a walkthrough is located on the right side of the Download Bank Transactions screen in the Side Help. Select either QIF or Quicken AUS as the file format for the exported transactions. You will receive a prompt to save the file, click on Save and the B-free software will capture the file and import the transactions. 3. Open B-free and log in. Select Upload Quicken File from the Advanced menu. 4. Select your bank account from the menu. The bank account selected should correspond with the transaction file you wish to load into B-free. 5. Click on the Browse button, locate the transaction file previously saved and double click on the file. 6. Click on the Upload File button. 7. Your bank transactions will now be loaded into the Transaction List for you to categorise. 13

14 Transaction List The Transaction List displays all transactions which have been downloaded or entered manually for the current viewing period. All transactions are colour coded for quick identification. Red Transactions are transactions which the B-free software does not recognise and will need to be identified by you. For more information on identifying transactions, see the section Identifying Transactions in this guide. Black Transactions are identified withdrawal transactions. Once a transaction has been identified (assigned to a business or category), the transaction will change from red to black. Blue Transactions are deposit transactions which are recognised by the B- free software. You may have other transactions which are deposits in your Transaction List; however they will only be coloured blue once they have been identified. 14

15 Transaction List Tools The Transaction List Tools icons appear on several screens displaying your transactions. Displayed to the right of every transaction, these icons provide functionality to features within the B-free software. Add Quick Business Add Quick Business allows you to quickly create a business within the B-free software. By assigning a search phrase to the business, the software can automatically assign transactions when they are downloaded from your internet banking website. For more information on Identifying Transactions, see the section Identifying Transactions in this guide. Split Transaction Splitting transactions gives you the flexibility to separately categorise elements of a transaction. For instance, if you have a $197 Telephone bill, you could split $80 for the broadband internet, $62 for the home phone bill and $55 for the mobile phone. This gives you greater flexibility in tracking your expenses. Edit Transaction Editing a transaction allows you to modify the details of a particular transaction, such as the Business Name or Category Name, or to write a memo against the transaction. 15

16 Identifying Transactions Now that you have transactions displayed in the Transaction List, the next step is to identify the Red Transactions. There are three processes available to identify your transactions in B-free. Add Quick Business is the first process and will be described in the following section. The other processes are Quick Identify and Quick Edit; these will be described in subsequent sections. Add Quick Business Add Quick Business provides a powerful feature in B-free, the ability to quickly create a business and teach the B-free software to automatically identify your transactions. 1. Change the Current Period to view the earliest loan transaction which you have loaded into B-free. Then select Transaction List from the Go To menu to review the transactions. 2. To begin identifying your transactions, locate a Red Transaction in the Transaction List. Red Transactions are called Unknown transactions in B-free, as the software does not know how to assign the transaction. Click on the Add Quick Business button, which is located on the far right of the transaction. 3. Select a Category Name from the menu. The category you select should closely match the usage of the transaction. If you do not find a category in the list which is appropriate, you can create your own 16

17 category. Categories can be created by selecting Add Category from the Go To menu. 4. The text displayed in the Business Name field is the description of the transaction for the business we are creating. This description can be deleted and replaced with the actual name of the business. 5. The search phrase is a crucial element when identifying transactions using Add Quick Business. All electronic transactions conducted with businesses will contain items which uniquely identify the business. This is the key to creating a useful Search Phrase for a business. For more information on creating search phrases, please see the section Rules for Creating a Search Phrase in this guide. 6. Once you are satisfied with the information entered for this business click on the Add Business button to save the details. You will now be returned to the Transaction List and any transactions from the business you just created will be automatically identified. 7. Continue the process above for the next Red Transaction until all transactions have been identified. NOTE: If you have a cheque account or receive cheques, a different process should be used. As cheques have no description other than a cheque number, there is no way to automatically identify them. To categorise cheques, see the section Quick Identify and Cheques in this guide. NOTE: If you intend to create and monitor your loan in B-free, do not identify any loan transactions at this point. Loan transactions will be covered in detail in the Loans section in this guide. 17

18 Rules for Creating a Search Phrase When creating a business, it is very important to correctly create a search phrase. Use the following rules to correctly create a search phrase for your businesses. This section will provide examples of the search phrase. Rule 1 Change the Text Appearing In the Search Phrase Field Transaction Description: TRANSFER FROM ABC COMPANY WAGES Incorrect: WAGE Although the word WAGES does appear in the description, this is too generic to be used. Other businesses may have this word appearing in their transactions and therefore those transactions would be incorrectly identified. Correct: ABC COMPANY WAGES This search phrase will correctly identify only the transactions from this business as it consists of a block of text which is unique to the business. Rule 2 Dealing With Single Word Transaction Descriptions Transaction Description: INTEREST Incorrect: INTEREST The text appearing as the search phrase has not been changed. Therefore an error will appear prompting you to change the search phrase. Correct: INTERES Occasionally you will receive a transaction which has a very short description or consists of only a single word. By deleting the last character from the end of the description, you will create a usable search phrase. Rule 3 Leave Any Spacing Before or After the Search Phrase Transaction Description: EFTPOS BP CONNECT 1933 UPPER COOMERA Incorrect: BP If BP is used as a search phrase, the software will identify the characters BP appearing in any transactions descriptions. For instance, any transaction with BPAY appearing would be assigned to the business as BP appears in the description. Correct: BP You should be very careful when creating a search phrase as a single word. If you have no choice but to use a single word as a search phrase, include any spacing which naturally appears before and/or after the word in the transaction description. This will force the software to only match the exact text string and prevent incorrect identifications. 18

19 Rule 4 Only Delete Text, Do Not Add New Text Transaction Description: PAYME INTERNET BANKING BPAY TELSTRA BILL Incorrect: PHONE BILL Although the transaction you are viewing is for the payment of a phone bill, the selected text does not actually appear in the transaction description and thus will not create a valid search phrase. Correct: TELSTRA Only use the text which appears in the transaction description. This will create a search phrase which uniquely identifies the business. Also, as this is a single word search phrase, don t forget to include any spaces which appear before or after the word. Rule 5 Use a Search Phrase Which is One Block of Text Appearing in the Description Transaction Description: PAYMENT TO HUTCHISON 3 DIR Incorrect: PAYMENT HUTCHISON Although these two words selected appear in the text, they do not appear next to each other or as a block of text. As such the text shown will never be identified against the business. Correct: HUTCHISON 3G This block of text will be identified correctly, as the text is taken as one block. Nothing has been added or removed from the block selected. Rule 6 The Business Name and Search Phrase Do Not Have To Be the Same Transaction Description: INTERNET BANKING FUNDS TFER TRANSFER 5678 TO Incorrect: Barry White The search phrase entered is a duplicate of the Business Name. In some instances this may be applicable as a search phrase. In this instance the search phrase would not work, as the search phrase entered does not appear in the transaction description Correct: TO This is an example of a bank transfer and as such will always display the account number to which the funds are being transferred. Therefore the selected search phrase will correctly identify all transactions going to this bank account. 19

20 Quick Identify Quick Business Identify is the second method to identify transactions within B-free. This screen allows you to easily view all transactions that the B-free software does not recognise. This method is useful for quickly assigning oneoff transactions for a particular business, rather than adding a new business for that single transaction. Quick Identify is also useful for assigning cheques to a particular business or category. 1. If you are not currently viewing the screen shown above, select Quick Identify from the Go To menu. 2. To identify your transactions using Quick Identify, you must first decide if you wish to assign the transactions directly to businesses or to categories. The selection you choose will cause either a business or category menu to appear beside each transaction. If you have a lot of one-off transactions you will find it best to assign the transactions by categories. The tick boxes beside each transaction offer an easy way to select Owners Funds. Any transaction which can not be identified should be assigned to the Owners Funds category. An example would be any ATM transactions. 3. To assign a transaction, make a selection from the menu for each transaction you wish to assign. When working on the Quick Identify screen, it is important to save your changes before changing to another 20

21 page, as no selections are saved until the Update List button is pressed. 4. Continue the process above each Red Transaction until all transactions have been identified. When you wish to save the changes, click the Update List button at the bottom of the screen. Quick Edit Quick Edit is the third method available to identify your transactions and can be easily located on the Transaction List. The Quick Edit icon pictured below is located to the right of the Business and Category name. Clicking on the Quick Edit icon, will cause a menu to appear. This menu will allow you to quickly assign the transaction to a different business or category. Once a selection has been made, click on the OK button and the transaction will be immediately updated. Bank Transfers When categorising transactions, you may discover transfers between your bank accounts. Any business transaction which represents a transfer between one bank account to another should be assigned to the category Bank Transfer. Both transactions, the withdrawal from account 1 and the deposit to account 2 should be assigned as bank transfers. Unless the first withdrawal transaction is a payment, for instance a credit card payment. Then the withdrawal should be categorised as a business expense and the deposit appearing on the credit card will be assigned as a bank transfer. If your accountant is going to transfer your accounts and transactions into QuickBooks or MYOB, a new category will need to be created for each bank account. 21

22 Cheques Cheque transactions are handled differently than standard transactions. As cheque transactions do not contain a detailed transaction description, a search phrase cannot be used to identify these transactions. There are two processes available to identify your cheques in B-free. Using the Cheque Book function is the first process and will be described in the following section. The other process managing your cheques transactionally and will be described in the subsequent section. Adding a Cheque Book The first step in managing your cheque book in B-free is to create the Cheque Book, you can then start entering your cheques. Follow the steps below to create a cheque book. 1. Before creating a cheque book, ensure you have created your cheque bank account in B-free. To view your bank accounts, select Edit Bank Account from the Set Up menu. If your cheque account is not displayed on this screen, click on the Add Account workflow tab at the top of the screen. Once you have created the account, proceed to the next step. 22

23 2. If you are not currently viewing the screen shown above, select Add Cheque Book from the Set Up menu. 3. The Bank Account selected should be the one which you cheque book is linked to. 4. Enter a name for the cheque book. For example, ABC Business Cheque Book. 5. Enter the first and last cheque number as it appears in your cheque book. 6. Once you are satisfied with the information entered for this bank account click on the Add Cheque Book button to save the details. If you wish to create additional cheque books, repeat the process listed above. The cheque books created can be edited by selecting Edit Cheque Book from the Set Up menu. When editing a cheque book, all details of the cheque book can be changed as long as no cheques have been created for the cheque book. If cheques have been created, only the name of the cheque book can be changed. If an error is discovered after a cheque has been written, the cheques created will need to be cancelled and the cheque book deactivated. 23

24 Entering Cheques After creating your cheque book in B-free, the next step is to enter any cheques which have been written. By managing your cheques in this manner within B-free, you can monitor which cheques have been presented and which are still outstanding. Begin by having your cheque book beside you and if you are just starting to use the cheque book section of B-free, start at the beginning of the cheque book. Otherwise, if you have previously entered cheques, then continue from the last cheque entered. To enter your cheques into B-free have your cheque book beside you and follow the instructions below: 1. If you are not currently viewing the screen shown above, select Add/Edit Cheque from the Go To menu and click on the Add a Cheque button. 2. Select your Cheque Book from the menu, the cheque number will automatically appear as the next available cheque. 3. If required, select a job from the menu. For more information on jobs, see the Jobs section in this guide. 4. Enter the Date on which the cheque was originally written. 24

25 5. Select the business for which this cheque was written from the Pay to menu. When a business has been selected the Private Use Percentage will automatically be displayed. 6. Enter the Amount of the cheque which was written for the business. The GST will automatically be calculated if applicable. 7. Enter a Memo to describe the nature of the cheque. 8. Once you are satisfied with the information entered for this cheque click on the Save Cheque button to save the details. If you wish to create additional cheques, repeat the process listed above. The cheques created can be edited by selecting Add/Edit Cheque from the Go To menu. NOTE: When editing a cheque, all details of the cheque can be changed as long as the cheque has not been cancelled or presented. Cheque Transactions with B-free Cheque Book Once your cheques have been entered into B-free, you can now download your transactions. This process occurs as it would for any other bank account, for more information on downloading transactions, see the section Downloading Bank Transactions in this guide. When viewing the cheque transactions in the transaction list, the transactions will automatically be linked to the corresponding cheque in B-free. This provides the ability to automatically reconcile your cheque book and view any cheque which has not been presented. Cheque Transactions without B-free Cheque Book Managing your cheque transactions manually is the second method to manage your cheque transactions. Download your transaction as you would normally and using the steps outlined in the sections Quick Identify and Quick Edit, assign the transactions to a particular business or category. When assigning the cheque transactions, you should have your cheque book beside you to know where to assign the cheques. 25

26 Jobs Creating a job in B-free facilitates the tracking of income and expenses for a particular job or project. Transactions, cheques and invoices can be assigned to a particular job and the profitability of the job viewed by selecting Jobs Report from the Reports menu. To create a job in B-free, follow the instructions below: 1. If you are not currently viewing the screen shown above, select Add/Edit Jobs from the Go To menu and click on the Add Jobs button. 2. Enter a Job Name which can be easily identified. 3. Enter a Description for the job. 4. Enter a Start and End Date for the job. This information is used as a guide to see if a job is on time. 5. Enter a Contact Person. If you wish to create additional jobs, repeat the process listed above. The job created can be edited by selecting Add/Edit Jobs from the Go To menu. 26

27 Completing Your BAS PAYG Options After identifying all of your transactions, you can begin to prepare your Business Activity Statement. The first step is to enter any additional tax data, this information entered and displayed will be used when calculating your BAS. For further information refer to the help menu on the right hand side of this screen or your tax advisor. Certain fields on this screen may have figures appearing to the right. These figures are derived values, which are calculated based on transactions within the B-free software. If needed, you can enter a different value into the field; this new value will over-write the derived value for calculation on your BAS. 1. If you are not currently viewing the screen shown above, select PAYG Options from the Finalise BAS menu. 2. If you are required to enter any information on this screen, make the appropriate entries. 3. Once you are satisfied with the information entered, click on the Continue button to save the details. 27

28 Audit Transactions Before you can finalise your BAS, B-free will automatically check your entries for any potential errors. Transactions appearing on this screen may need to be rectified; otherwise they could cause errors in your BAS. Red Transactions are transactions which will need to be identified by you. For more information on identifying transactions, see the section Identifying Transactions in this guide. If you see a Blue Transaction or a Black Transaction appearing on this screen, the transaction may have been assigned to an incorrect category. For instance a deposit transaction assigned to a withdrawal category. Once you have reviewed the transactions displayed on this screen or if you wish to proceed with the errors, click on the Continue Anyway button at the top of the screen. 28

29 Finalise BAS Finalising your BAS is the final step in the preparation of your Business Activity Statement. The options on this screen allow you to either preview or finalise your BAS. To preview your BAS, click on the Preview BAS button. This option allows you to view the current state of your Business Activity Statement. Before finalising your Business Activity Statement, please review the checklist on the screen. Once you are satisfied you have completed the necessary items you can then finalise your BAS. 1. If you are not currently viewing the screen shown above, select Finalise BAS from the Finalise BAS menu. 2. Click on the Finalise BAS button. 3. The Finalised Business Activity Statement will then be displayed, at which point you can either print the statement or transcribe the figures onto your BAS paperwork. Once your BAS has been finalised, all records within the selected BAS period will be locked against further editing. To unlock a BAS period, select Unlock Finalised BAS from the Advanced menu. Select the BAS Period to be unlocked and complete any necessary changes. Once you are satisfied with these changes, you can finalise your Business Activity Statement again. 29

30 Invoicing Invoice Settings The options appearing on this screen allow you to customise the look and information appearing on your invoices. When first using B-free invoicing it is advisable to complete these details and enter information about your business. If you are not currently viewing the screen shown above, select Invoice Settings from the Invoice menu. After entering your business details and customising the layout of the invoices, click on the Submit button to save the information. Logo Image Your business logo can be uploaded and displayed on the invoices. Click on the Browse button and locate the image you wish to use. NOTE: Only JPG, GIF and PNG images can be accepted. Credit Term Entering a value for the Credit Term allows the due date to be calculated for the invoice. Show Date For Each Row By default the date will be displayed, if you do not require the date to appear for every item. 30

31 Show Hours or Qty The option selected from this menu, customises how your invoice items will appear. You can select to have either Hours or Qty appearing against each invoice item. Business Address The address entered here, will appear on your invoice. Bank Details If you accept direct bank transfers, you can enter your bank account details in this section. Remittance Details This can include the methods of payment your business accepts and options for payment of the invoices. Subject Enter the subject which you would like to appear on any s which are sent to businesses. Body Text Enter the text of the which will appear in s sent by your business. When you select the option to your invoices, the following two options will be used. Specific formatting can be used, such as having the invoice number, the business name, etc. For more information regarding this formatting, see the Side Help on the Invoice Settings screen. 31

32 Creating an Invoice B-free provides an easy to use and informative invoicing section. These invoices can either be printed and posted to your clients or ed directly from the B-free software. To create an invoice, follow the instructions below: 1. If you are not currently viewing the screen shown above, select Create an Invoice from the Invoice menu. 2. Select the business you wish to send the invoice to from the Business Name menu. If the business does not appear in the list, click on the Add Business button to create the new business. When a business has been selected the address and address of the business will be displayed. Details of the selected business can be changed by clicking on the Edit Business button. Once you have completed the necessary changes, click on the Refresh button to update the details on the invoice. 3. The Options appearing on the screen provide the ability to the invoice directly to the business, to do so place a tick in the box next to Send to this business. By placing a tick in the box next to Send me a copy, a copy of the invoice can also be sent to you, confirming the invoice has been ed. 32

33 4. Enter the details for each item you wish to add to the invoice. Click on the Add Item button to have the invoice item added to the invoice. Repeat this process for every other item if needed. 5. Once you are satisfied with the information entered for this invoice, click on the button labelled Click Here to Save Your Invoice. If you wish to create additional invoices, repeat the process listed above. Created invoices can be viewed and edited by selecting List Invoices from the Invoice menu. 33

34 Invoice Management Invoice management can be performed using the functions on this screen. By default only Pending invoices within the current BAS period will be displayed. To search invoices, follow the instructions below: 1. If you are not currently viewing the screen shown above, select List Invoices from the Invoice menu. 2. Select an option from the Invoice Status menu. 3. Enter a date range for the invoices you wish to display. 4. Click on the Search Invoices button. All invoices matching the search criteria will then be displayed, if no invoices appear, try changing the date range or the invoice status. The displayed invoices can then be viewed, edited, deleted or paid. 34

35 Credit Notes Credit Notes can be created for Pending and Semi-Paid Invoices when you wish to refund a portion of an invoice which has been created. To create a credit note in B-free, follow the instructions below: 1. If you are not currently viewing the screen shown above, select Create Credit Note from the Invoice menu. 2. Select a business from the Business Name menu. All paid and semipaid invoices for the selected business will then appear in the menu below. 3. Choose an invoice from the Select an Invoice menu for which you wish to have the credit note assigned to. The details of the invoice will be displayed, including any existing credit notes assigned to the selected invoice. 4. Enter the Date for the credit note. 35

36 5. Select the Credit Note Type from the menu. Cash, Electronic and Forward credit notes can be created to the value which is no more than the Remaining Paid Amount. This type of credit note is considered to be a refund to the customer and is therefore deducted from any amount the customer has paid on the invoice. Adjustment credit notes can be created to the value which is no more than the Unpaid Balance. An adjustment is a change to the total value of the invoice, rather than editing the actual invoice. 6. Enter the Credit Note Amount and select whether or not the credit note should Include GST. 7. Enter a Memo to describe the reason for the credit note. 8. Click on the Create Credit Note button. If you wish to create additional credit notes, repeat the process listed above. Created credit notes can be viewed and edited by selecting List Credit Notes from the Invoice menu. Once a credit note has been created, it cannot be edited. If you have discovered an error in a credit note, the credit note will need to be deleted and re-created. 36

37 Invoice Reports Invoice reporting for a business can be performed using functions on this screen. All invoices and credit notes for the selected business and date range will be displayed, giving you a complete breakdown of the balance owed to you. To view invoices for a particular business in B-free follow the instructions below: 1. If you are not currently viewing the screen shown above, select Invoice Report from the Invoice menu. 2. Choose a business from the Select Business menu. 3. Specify a date range for the report. 4. Click on the Search Invoices button. 37

38 Budgeting Enter a Budget The starting place for any successful investment plan is to budget your hard earned money. By entering monthly budgets for items such as living expenses and entertainment, you can take charge of your finances. Before starting your budget, please ensure you have identified all transactions which have been downloaded into B-free. This will ensure your budget will be as accurate as possible. When working through the budgeting sections, try not to skip ahead as the work completed in each section builds towards entering and accurately monitoring any loans you wish to enter. 1. If you are not currently viewing the screen shown above, select Enter Budget from the Budget menu. 2. To create a budget, select a Category from the menu. All categories displayed in this menu are those which are used within the B-free software. Totals displayed beside each category represent the total value of transactions assigned to the categories within the current financial year. 38

39 3. Once a category has been selected, you should enter budget amounts for each month. To make this process easier, click on the Get Actuals button to display your total spending for each month. Now you have an idea of your spending and can create an accurate budget. Enter budget amounts for each month or you can enter one amount and using the Copy Across button, will copy the amount to every subsequent month. 4. Once you are satisfied with the information entered for the bank account, click on the Add Budget button to create the budget. 39

40 Budget Report After entering your budget, you can view comparative reports for your budget periods to track your progress. A budget must be entered for the period you are viewing; otherwise the report will not display accurate results. 1. If you are not currently viewing the screen shown above, select Budget Report from the Budget menu. 2. By default the date range appearing for the Start and End Date will correspond with the Current Period. To change the reporting period, enter the date range you require or change the Current Period and then click on the Generate Report button. The report displayed is the Summary Report view, which displays three groups of figures, the Actual, Budget and Variance figures: The Actual column displays the total for the transactions which have been assigned to the category. A Detailed Report can be viewed which will display all transactions contributing to the Actual Amount. The Budget column represent the amount budgeted for each category. To change the budgeted amounts, return to the Enter Budget screen and adjust the budget for the category. The Variance column displays the difference between the actual and budgeted amounts for the selected period. 40

41 Budget Graphs Graphing your budget amounts against actual spending gives you a realistic view of your current financial position. When a budget has been set for a category in the current financial year, the category will be available for selection on this screen. If no budget has been set, Budget Groups can still be selected and the data displayed. 1. If you are not currently viewing the screen shown above, select Budget Graphs from the Budget menu. 2. To view a budget graph, select either to Graph By a Budget Category or Budget Group from the menu. Groups allow you to have similar categories bundled together to allow you to track your income/expenses. 3. Select a Category/Group to display from the menu 4. Select a date range to view from the menus. 5. Click on the Create Graph button to display information for the selected period. The graph will display the Budgeted Amounts and Actual Amounts, as well as a break down for each month on the right side of the screen. 41

42 Budget Groups Similar categories can be grouped to track income and expenses. Some Groups are automatically created when categories are imported into B-free. Budget Groups can be edited or deleted at any stage and individual categories can be removed from a group. 1. If you are not currently viewing the screen shown above, select Budget Groups from the Budget menu. 2. To create a new Budget Group, enter a Name for the Budget Group you wish to create. 3. Select a Group Type from the menu, whether you wish to create a Deposit or Withdrawal category. 4. Select the Categories you wish to include in this Budget Group. Categories displayed are of the same group type as selected in the previous step. For example; only deposit categories will be displayed if the deposit group type was selected. Once a category is assigned to a group it cannot be assigned to another group, unless removed from the group in which the category resides. 5. Once you are satisfied with the information entered for this Budget Group, click on the Add New Group button to save the details. 42

43 Need Assistance? B-free offers multiple levels of support, should you face any difficulties or have any questions, the following support services are available: Help Modules are available on every screen which describe elements of each screen and can provide help in most situations. Documentation and user guides, such as this. Online FAQ s (Frequently Asked Questions) located on our website - Telephone Support: Available Monday to Friday 9:00 am to 5:00 pm EST (Australia) (International). Support: support@b-free.com.au. This document may be updated periodically. To check whether this has been updated, type the following link into your web browser: 43