Entering Sales data
Similar to other accounting systems, there are a few ways that sales data can be recorded in Ambrook.
Tagging a deposit: when a deposit hits the bank, you can simply categorize the deposit as income. An example for income from a point of sale like Square is here.
Creating a sales receipt: If the customer pays at the time of sale, you can record the sale via an invoice as in the example of Square data here.
Using a sales invoice: If you have not yet collected payment from a customer, you can create and send an invoice directly to the customer. You can also offer several payment method options, including (1) check or cash; (2) ACH, or (2) credit card. Options (b) and (c) will have customers pay directly into your Ambrook Wallet and will be matched to invoices automatically. Invoices paid with check or cash will need to be matched to the invoice when payment is received.
If you send recurring invoices or pay monthly bills, you can use the “duplicate” option to future date bills or invoices and later send.
Paying bills
You can read about the basics of creating and paying bills in our support library. Below are a few additional common workflows on Ambrook and how best to handle them.
Uploading bills
If you have digital copies of your bills, you can drag and drop them onto the Bills page to generate drafts for your review. You can drag and drop as many as you want, which makes it easy to handle many bills at once. Alternatively, on mobile, you can snap a picture of a physical bill by clicking New on the Bills tab. This will create a draft that you can later review on your desktop. Our system will read in the amounts and line items. Because formats can vary, it is best to review the numbers once it’s been uploaded.
Duplicating bills
If you have recurring bills or invoices, you can use the Duplicate function to create a copy of a bill with the same amount, vendor, and date. You can then edit the details as needed. This is also helpful for any recurring bills; simply duplicate the bill, and set a future date so that you remember to make regular payments. You can access this function from the overflow menu on any bill from the Bills page, or on the overflow menu from an individual bill.
Recording and clearing expected payments
For bills and invoices, making and receiving payments through Ambrook Wallet automatically matches and clears payments for you. For other payment methods, Ambrook lets you record payments on your bills and invoices, which are then cleared when payments actually post to your bank account.
Recording a payment on a Bill or Invoice will mark it as paid, reducing your Accounts Payable or Accounts Receivable. In the case of checks and expected payments, these will be recorded as balances on system accounts that Ambrook generates for you:
Check payments on bills are recorded to Outstanding Checks
Check payments in invoices are recorded to Undeposited Checks
Expected payments on bills are recorded to Expected Bill Payments
Expected payments on invoices are recorded to Expected Invoice Payments
Once the payment shows up on the user’s bank account, the payment will be cleared when you link the recorded payment to the posted withdrawal or deposit. Doing this will reduce the balance of your Undeposited Checks or Outstanding Checks account and link the payment in your ledger to the invoice or bill you recorded the check on.
A more detailed walkthrough of recording payments on Ambrook can be found here.
Up Next
Learn more about reconciliation workflows here.