Hello Indigo Business users,
We’re back with a strong set of Accounting updates, including automatic creation of the Provisional End of Year Entry and Accounting Periods for financial years, a flexible Nominal Transactions Customisable Report, and more detailed Sales Documents.
We’ve also refined the Nominal Trial Balance Report so information is shown in a clearer, more structured, standards-aligned order. Alongside that, a few behind-the-scenes improvements help make everyday transaction handling more consistent.
Got your iced coffee in hand? 🧊 Enjoy all of the details below. ⬇️
Table of Contents
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🧮 Accounting
Not all financial years are the same. Retail calendars, leap years, and business changes can create unique accounting requirements. You can now set up dedicated accounting periods for each financial year using the new button on the Financial Years screen.
We've also simplified financial year creation by automatically generating a Provisional End of Year Entry (EOYP) against your configured Retained Earnings account. This carries profit or loss balances forward while allowing further adjustments before final closure.
Need a different view of your nominal transactions? The new Nominal Transactions Customizable Report lets you create tailored reports by choosing the information, values, and grouping criteria you want to analyse, giving you greater flexibility over how your financial data is presented.
The Nominal Trial Balance Report now follows a hierarchical account structure aligned with accounting standards, improving the organisation and readability of report data.
A clearer VAT breakdown has been added to sales documents, with amounts and VAT totals grouped by VAT rate. VAT markers and their descriptions are also included where applicable, and invoices can display payment details configured in the Bank Instructions field of the relevant nominal account.
🛠️ Fixes and Improvements
🛠️ Fixes and Improvements
The De-allocate action for sales and purchase transactions has been refined to support a smoother transaction management process.
Generated sales and purchase documents now reflect the address and VAT registration details selected or amended during transaction posting, helping ensure consistency between transaction data and document output.
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