Bookkeeping

How to record inflow on Tyms Book

Updated 5 months ago by Praise Arannilewa

Help Center Bookkeeping How to record inflow on Tyms Book



Inflow, also called Sales is the amount of money you receive from a customer for a particular sale or service delivered. This could include money from selling a physical product like a bag of rice or offering a service (intangible item) like a generator repair.

 

Below is a brief guide on how to record sales.

Steps in recording sales on Tyms web application:

  1. Begin by signing in to your Tyms Book account

  2. Click on the "Sales" section and select the "General Sales" page.

  3. Select the “Record Sales” button and you’ll be directed to a record form. 

  1. Select the currency for this particular  from your list of already added currencies.

  2. Enter the title of the sales record. 

  3. Select the Chart of account for which this sale will be categorized under.

  4. You can select the department, branch and projects that this particular sale would be associated with.

  1. You can also click on the "Add Customer" button to add the details of the customer involved in the transaction as this can help foster debt tracking especially when payment made hasn’t been completed.

  2. a. Click on the "Add Item" button and enter the details of the item you want to record for your sales (including item type, name, quantity, unit, and price) 

b. Enter the product name or select from the existing product by clicking the dropdown by the right hand side.

c. Select the currency this product is to be recorded in. 

d. Select if it’s a product - tangible item or a service - intangible item being offered.

e. You can enter the product description to describe the details of the item. 

f. You MUST enter the unit of the item if it’s a product and quantity of the item available.

g. Enter the transaction price for a unit of that item and save.

  1. Click on "Save" and the item would be added to the record.

  2. You can add the details of the sales by: 

a. Entering a “Percentage Discount” if you’re reducing the price for any reason over a particular period of time. This could be for customer retention, boosting sales, etc. 

b. You can also select tax for this sale from your list of taxes or create a new tax. 

c. Select the Sales Date, and enter the shipping fee if there’s a cost of logistics or transportation. 

d. You can also choose to leave a note to help keep memory of this sale.

  1. You can also enter the details of the payment as relating to the sale record by entering the amount received out of the total cost of the sale.

Click on "Submit" and your record will be saved to your Sales Record page.

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Tyms accounting and finance automation software is suitable for any industry irrespective of your mode of financial operation.