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Here we write tricks that make the accountant's life faster and easier.
If it is necessary to bulk import the transactions row date, you must also import Periodized - Row with the value 1.
Example :
If the account should have USD-s, but until now the transactions have been made in EUR-s, then in order to adjust the account, EUR-s must be written off and USD-s must be received.
Example: The account must have 1000 USD on 31.03.2021, but there is 852.88 EUR (which is worth 1000 USD).
Nominal ledger transactions as example
If the account has currency that has not been revalued, then currency revaluation transaction should be made first. Then in the future can use Maintenance > Currency rates > Currency rate converter
to convert currency rates.
If there is a red non-zero number in the DIFF cell, it means that the bank start balance for that day and the Directo account start balance are not equal. If the DIFF cell has a number for a long time, look at the previous days bank statements and find a bank statement with a start balance DIFF a zero and start checking from that day.
Start balance block contains information fields
If everything is correct, the DIFFERENT sum will be a 0.00 number in black colour.
If the day`s start balance does not equal to the bank start balance statement in Directo, DIFF will show a red number.
If the DIFF number is red on the bank statement, it means that the previous day's bank statement final balance is not the same sum in the financial account and in the bank.
Errors, that may occur
Find the error and fix it. DIFF sum is always 0.00 if everything is correct.
Financial transactions that are not created directly from a bank statement cannot be linked to a bank statement. When checking the bank statement, add Type “Not used” to these bank statement lines. When all actions related to the bank statement have been completed, mark the bank statement as closed.
If money is transferred between your own bank accounts and both bank accounts appear in the bank statement, you must check that only one bank statement has a financial transaction and on the other bank statement is marked “Not used”.
Example: Without a rule If both bank accounts appear on the bank statement, start with the account statement from which the money was withdrawn
If you don't want to create rules for the bank statement, can select a transaction and mark the account where the money goes to. To create a transaction, click Transaction option and Create transaction from the top bar to activate it.
Mark the row “Not used” on the money income bank statement, because the transaction has already been prepared.
2) Rules: option 1. If you have a lot of money moving between your bank accounts, you can create bank statement rules, that make transactions themselves.
Create a new rule from the bank statement row (Rule column - Add), where the necessary fields are filled in:
You can always test the rule by saving and if the transaction is not created as you want, you delete it. Open the rule and change until you get the desired result. Save the rule. Save the bank statement again - then transactions that have not been created are created based on the rules.
3) Rules: option 2. If you don't want to use the “Not used” rule, you must create a rule for both bank statements, where the account is the bank's suspense account “money transfer”, choose yourself whether to make a balance account or an off-balance account starting with a number 9!.
a) To the bank rule for withdrawing money, add bank's suspense account “money transfer” to the account field, the transaction is created like this
b) To the bank rule for the money coming in - add bank's suspense account “money transfer” to the account field, so you can always check that the bank's suspense account must be 0. The transaction is created like this:
If the state board pays for the customers and the receipts are not tied to the invoice, then
If for some reason the bank statement has not been automatically received in Directo (technical problem), the bank statement can be added manually.
Make a separate payment method for each bank account. We can limit the rights through payment visibility rights. Under user rights or user group rights, add the right to see restricted payment rights.
If empty, everything is allowed. List of codes with commas. If even one code is filled, only that code is allowed.
If an expense has rows in several different currencies and/or different expenses have expenses in different currencies and want to view the report by currencies. For example expense:
Expender report - options With rows, Currency shows the selected expenses sums in different currencies below
Daily allowances are reflected on the Expense document. Daily allowances are not part of the salary and are not reflected in the salary module.
Report purchase invoices - write in the account cell the fixed asset accounts you want in the report (comma-separated list). Choose “show rows”. In the Name/Asset column the rows show the asset numbers, when the asset cards have been created.
Searches only for fixed assets created from the purchase invoice lines.
Report - Asset list
Write in the time fields Date and Valid date 31.12.2019. Valid is a helpful field that also shows assets written off after the report date.
Can not. The car fringe benefit is calculated on the Asset Depreciation report and only fixed assets come into that report.
Car fringe benefit can only be calculated for cars on fixed asset cards.
In case the cars do not belong to the company, but is in the company's use on an operating lease or other agreement basis, then a separate fixed asset class for the car fringe benefit should be created under the fixed asset classes.
Fixed assets cannot be partially written off on the asset card. If you want to write off a part, then you should write off all and then take into account only the part that remained. On the new fixed asset card, you can partially write off the fixed asset proportionally from the acquisition cost.
If the income statement accounts are shown in the balance sheet description, then the income accounts balances are shown with a + sign and expense account balances with a - sign, i.e. expense accounts balances also appear in the report with a + sign.
Description of the used income statement :
Finance transactions can be negative → YES
==== Issuing a sales invoice if the customer is subject to VAT in several countries ====
If one and the same customer is subject to VAT in several countries, a separate customer card should be made for each different VAT register number and VAT country. When making invoices, the payer should always be the “main code” and the customer - the customer's card with the VAT information of the country to which the goods are delivered.
On both customer cards Multiple VAT zones must have a check mark.
===== RECEIPT =====
Directost saab otse kliendile raha tagastada. Mugav ekslike laekumiste, ettemaksude, deposiitide tagastamisek. Arveldusarve, kuhu raha kanda märgitakse kas kreeditarvele või kliendikaardile või otse laekumise dokumendile.
Raha tagastuse ekspordi õnnestumiseks :
===== SALES LEDGER =====
===== PURCHASE INVOICE =====
==== How to record a capital lease on a purchase invoice ====
The company purchased fixed assets with a cost of 100,000+VAT. In order to reflect the fixed asset purchase invoice in the purchase module, the following posting must be made:
Liability accounts are entered with a minus for the financial entry to be correct.
In the example, the capital lease obligation of the current year is also immediately reflected in the account „Repayments of long-term capital leases in the following periods“ and „Long-term capital lease liability“ sum reduced by this. The VAT code has been added to the fixed assets account.
When the invoice is confirmed, the following financial transaction is created:
After confirming the purchase invoice, a new fixed asset card can be created from the purchase invoice, under the third tab of the rows.
==== Confirming the prepayment on the purchase invoice gives an error message ===
A prepayment to the supplier is requested on the purchase invoice. The payment term is prepayment and the item in line is E2, confirming gives error:
* Set the default quantity to 1 on the purchase prepayment item card. Then the error will not appear.
==== If the company is not liable for VAT - how to enter purchase invoices ====
If the company is not liable for VAT, it is possible to enter purchase invoices.
=== 1. Put cost sum including VAT into the cost and VAT 0 ===
* Create VAT code
* Create purchase invoice
* Purchase invoice transaction
===2. Enter the cost sum without VAT in the cost and VAT 20 (proportion 0) ===
* Create VAT code
* Create purchase invoice
* Purchase invoice transaction
If purchase invoices are automatically sent to Directo with e-invoices, it is better to use this option.
==== How to report sums paid to the Tax Board and interest payments in Directo? ====
1) Make a supplier card to the Tax Office
2) Create a purchase invoice with the date when payment is due or if desired, e.g. 23.03.2021 and the payment term is 7 days
A transaction is created
3) Create payment
A transaction is created
All monthly payments to the Tax Office - VAT, TSD taxes - can be made on the same principles. Add the tax declaration as an attachment to the purchase invoice, then it is easy to check the payments later.
The same principle can be used to make loan payments and interest payments, it is necessary to create an off-balance subsidiary account “Loans and interest - subsidiary account” or create a separate subsidiary account for each type of payment - depending on your needs.
==== Can the payment schedule be copied from Excel to Directo? ====
Read the manual here: Maksegraafik
==== The purchase invoice displays a message “the purchase prepayment is smaller than the supplier's prepayment” xxx.00 ====
In our example the purchase invoice displays a message “the purchase prepayment is smaller than the supplier's prepayment 2160.00.
Actually the supplier does not have a prepayment. In order to correct it, you need to find the reason, why there is a message that the supplier has a prepayment, even though the purchase invoice does not have the prepayment.
To find the reason:
* Calculate the report Purchase prepayments
If there is a supplier in this report whose purchase invoices have such a mistake, then it is a prepayment in EEKs
* Suppliers prepayments report will open when clicking on the Prepayment sum in this report
* If the report shows that the Payments have negative payments in EEK, i.e. purchase prepayments, the report shows payment in EUR in the same sum and the balance is 0, must create a Netting on the Payment document.
* After confirming the Payment document, the purchase invoice error message should disappear.
==== Error message - account on the row 1 has missing corresponding account ====
If the purchase invoice is periodized
and confirming gives error message
Then the corresponding account is missing in the expense account, where the expense must be periodized in the balance sheet. Add the appropriate corresponding account (expense account for future periods) to the account card and confirm again.
==== The purchase invoice corresponding account would have other objects, projects than the expense account ====
If it is necessary that future periods account have other objects, projects than in the expense account, mark the objects, projects that go to the expense account row separately in the purchase invoice columns Correct object and Correct project.
==== Why does the comment not change on confirmed purchase invoice transaction ====
It is possible to change a confirmed purchase invoice, if “Confirm” is marked in the purchase invoice module under user group rights.
===== PAYMENT =====
==== Why payment have two currency exchange accounts when a foreign currency invoice is paid in EUR_? ====
==== Payment - why is the sum with a minus sign payable to the supplier red ====
If the supplier has credit invoices, the sum with a minus sign is coloured red so that negative payments are not unnoticed.
==== Company name on files sent to the bank and the Tax Office ====
If the accountant have several companies at the same time in Directo, it was difficult to understand exactly which file to upload to the bank or the Tax Office.
We have added the company short name to the file names, which appears in the Directo header
The short name can always be changed in the system settings
The payment file sent to the bank now looks like this:
The company short name is attached to the following documents files:
* VAT declaration
* TSD report
* Payments
* Salary payments
* Expense due
==== Why are purchase invoices not added up when creating a payment order from the payment to the bank ====
* setting in payment fine-tuning Export does NOT join same supplier payments
* The purchase invoices have reference numbers, in this case the purchase invoices are never joined
* The supplier's name is spelled differently on the purchase invoice, lines with exactly the same spelling are joined
==== Error message when importing payment to the bank - comment too long ====
If you pay many purchase invoices at once, the purchase invoice numbers will not fit in the comment field. Similarly, the payee cannot find out which purchase invoices have been paid.
If one supplier's purchase invoices are paid, then the xml file puts all one supplier purchase invoices rows together, when importing to the bank and the supplier's purchase invoice numbers are written consecutively in the comment field.
If many purchase invoices are paid at once and the reference numbers have not been used, the purchase invoice numbers will not fit in the comment field and the bank issues a warning that the comment is too long.
Possible solutions:
* use fine-tuning Export does NOT join same supplier payments
* create several different payments with less purchase invoices
* use purchase invoice reference numbers
* send to the supplier`s accounting a report Purchase - Reports - Payments
about payemnts.
==== Why can't the payment be confirmed, even though the row has object? ===
If the object level is mandatory on the account and the payment row has level object, check that in the system settings is indicated
* Finance setting - Payment uses Purchase Invoice object on rows - YES
* Payment settings - Payment uses header object for the Asset Accounts - NO
==== Why is it not allowed to use a prepayment in foreign currency? ====
When using an advance payment in a foreign currency, the exact same currency rate must be used when using it.
If you get an error message when saving a payment, it must be observed that USD has been added to the payment, but the currency rate is the day of the payment. There is a difference when making a prepayment and the currency rate must be exactly the same currency rate as on the payment document with which the prepayment was made to the supplier.
==== Why is there a difference in purchase ledger when using an prepayment on a purchase invoice in foreign currency? ====
The error is known and is being corrected
Such a situation can occur if the purchase invoice is in a foreign currency and the sum to be paid is settled with the prepayment directly on the purchase invoice through the Prepayment field. Since the currency rate on the prepayment date and the payment date has been different, a difference in the exchange rate occurs.
SOLUTION: If the purchase invoice is in a foreign currency, should be used a payment document to link it to the prepayment.
* Confirm the purchase invoice without using the prepayment
* Create a payment document with the purchase invoice date separately for the minus prepayment with the currency rate that is on the payment document.
* Create a separate payment document for the purchase invoice with the date of the purchase invoice
* Check the account balance of the payment method in the nominal ledger report
* Create a financial transaction and transfer the exchange rate difference to income, expenses
=== Example ===
Prepayment
Purchase invoice
Purchase ledger by supplier
Nominal ledger report
Solution
1) Do not use prepayment on the purchase invoice
2) Create a payment with the payment method of netting separately for the prepayment and the purchase invoice.
3) Check the netting suspense account account, the balance there should be zero.
4) Create a financial transaction to write off the exchange rate difference and check the account balance in the nominal ledger
5) Ostureskontros ei ole enam vahet
===== SUPPLIER =====
==== Automatic ====
=== How can I add leasing invoices to automation? ===
The leasing company sends e-invoices where each customer has the same reference number and line explanation. Vehicles could only be identified using the contract number field.
- Write on the Content field to a separate row “Interest” and “Instalment” and fill in the Fields that are filled in on all purchase invoices of the leasing contract if the rules match
- Write the lease agreement number to a separate row in the Content field and fill in the fields that are filled in differently depending on the rules
===== PURCHASE LEDGER =====
==== I delete the purchase invoice, but it is still on the purchase ledger ====
This situation occurs when the purchase invoice that is deleted has already been paid.
If a paid purchase invoice is deleted, the payment must also be opened and remove the
===== VAT =====
==== Posting of VAT accounts ====
Every month, the VAT payable should be transferred to the taxes prepayment account and once a year make an intermediate transaction, where, for example, on 01.01.202X all VAT accounts are set to zero. So only the sum that has to be paid to the tax office for December on 20.01.202X remains.
1)There is no need to reset all VAT accounts on a monthly basis
2)Transaction must be made by the 20th of the following month
* D Payment of VAT
* K Tax prepayments
If according to the VAT declaration there is a prepayment to the tax office, the transaction must still be made, but there is a minus sign in front of the sums.
3) When transferring money to the tax office is created a transaction
* D Tax prepayments
* K Bank account
4) At the end of the year all VAT account balances are written to zero, except the sum that remains to be paid to the tax office for December 20.01 and which transaction is made on 20.01.
Leave the sum in the “VAT payment” account. If, as of the new year, VAT remains to be paid in advance, then make an account “Prepayments to the tax office” – prepaid VAT”.
==== How to set up reverse sales tax that cannot be reclaimed ====
* Create a new VAT code
* Create an account - Reverse VAT on purchases - doesn't ask back
Purchase invoice with reverse VAT, which cannot be refunded
Description of financial transaction and VAT code
===== GROUP =====
==== Group - sold company removal ====
The company that has been sold or has left the group must be removed from the group base.
Select System Settings - write group.
Click Group settings and select the company whose participation has changed
Write on the next free row
==== Group - I would like to view the data of the consolidated company in a different currency in the group database ====
If we want to check whether the data of the consolidated company is the same as in the consolidated base, it is easy if the currency is the same. Select this company in the group report and look at the profit and loss statement numbers.
If the group member is in another currency (for example GBP), the report can be viewed for verification.
In the group basis must be selected “End of period” in the consolidated income statement fine-tuning. When consolidating data in the income statement “Period Average” is selected. When checking the data, you need to change the setting to “end of period”.
===== OTHER FREQUENTLY ASKED QUESTIONS =====
==== Documents do not fit on one page ====
Make sure that the Margins option in the print settings is marked None**.
The OSS declaration is not initially developed in Directo.
To start using OSS, create your own VAT country and VAT code for each OSS country. The customer decides whether to create a separate financial account for each VAT code. Data for the OSS declaration can get from the customer statistics report with the VAT country and VAT code filter.