Why create sales invoices for sponsorship funds?
Your business may need to provide a sales invoice to recognise sponsorship funds, or for items related to a sponsorship deal from local businesses or providers.
How to create a sales invoice for sponsorship funds
1. Log in to Wiise from your mobile, tablet or any browser
2. From the role centre, which is the front page of Wiise, select the + Sales Invoice action. This creates a new sales invoice with blank details for you to complete.
3. Select the customer who'll receive the sales invoice. You can do this in a few ways:
- Type their name in the Customer Name field, or
- Select the down arrow to the right of the field to see a short list, or
- Click Select from full list on the bottom right of the list to search for and select the customer.
- If the customer isn't in the list, you can create a new customer:
a. Select +New.
b. Choose a Template type and enter the contact details in the customer page that opens.
Wiise will then take you back to the sales invoice.
4. Once you’ve selected the customer, their details will be filled in automatically, but you can change them if you need to be editing the fields. This information will show on the sales in-voice document.
5. Now check the Posting Date on the sales invoice. It will default to today’s date, but you can edit this, if the sponsor wants a specific date, or to recognise the sponsorship in a previous month, for example.
Note: You don’t need to use / or for dates in Wiise. For 1 June 2020, simply enter 010620 and Wiise will convert it to 01/06/2020 for you.
6. Wiise calculates the Due Date based on today’s date and the Payment Terms Code (the time that payment must be made in, such as 7 days or 14 days from receipt). If the sales invoice is not going to be paid immediately, check that the Payment Terms Code and Due Date (the date you want the customer to pay the invoice by) are correct.
Tip: You can track this easily using Wiise reporting. This will show unpaid invoices and their due dates.
7. Now select the right Sponsorship Code (these will be pre-configured for your sponsorship deals). This will help you keep track of your sponsorship related invoices.
8. Now enter the detail of the sponsorship items you’re selling. In the Lines section, select Item in the Type field.
9. Select the item in the No. field. You can do this in a few ways:
- Type the name of the item you’re selling, or
- Select the down arrow to the right of the field to see a short list, or
- Click Select from full list on the right of the list to search for and select the item.
10. When you select an item, the description will fill in automatically, but you can edit this if you need to.
11. Next, enter the Quantity of 1.
12. In the Unit Price field, enter the sponsorship amount provided, but don’t include GST. If GST is charged for the sale, Wiise will calculate it automatically.
13. Repeat steps 9—12 until you’ve added all items related to the sponsorship deal. Add each item on a new line.
14. If you want to add more information about your items, you can add a comment line — select Comment in the Type field, and then add your comments in the Description field.
15. If you need to delete a line, select the ellipses and select Delete Line:
- Wiise will ask if you want to Go ahead and delete? Select yes or no.
16. Wiise will calculate the sale Total for you — make sure you double check this.
17. Now select the Payment Method Code (this is how the invoice is paid, such as credit card or PayPal, and can be reported on later). Your customer can pay immediately if you select CASH or PAYPAL. By selecting CASH, the payment is recorded against the bank account right away, so you won’t have to enter it manually later.
18. Finally, select Release when you’ve finished entering all the details. If you do need to make any changes, you can select Reopen.