There are three sets of debits and credits for each transaction in the bank report as there can be 3 currencies involved in the transaction - the currency of the (bank) account, the currency of the business and the currency of the transaction. The debits/credits on the bank report show the impact of the transaction on the bank account.

The drilldown (click on the +) will show the impact of the transaction on all accounts

This functionality enables Fusion to support businesses who wish to transact in other (foreign) currencies.

Within the VAT section under VAT reports I have completed a VAT breakdown report.  I have noticed that each transaction is listed four times, just wondering why?

The report “VAT Breakdown” shows an entry for each account that the transaction impacted (including the customer's account) - hence 4 rows for each transaction.

However the "VAT Transactions" report which can also be found within the VAT reports section will show one row per transaction but will allow you to "drill down" and see the splits (account transactions).

Please note you can also review previous VAT returns - getting the BOX amounts and Transaction breakdown - by selecting the VAT returns page from the VAT menu.  Select the ‘completed returns’ tab, followed by the ‘return’ you are interested in and then select ‘review’.

This is a common question we get asked from many business owners and the answer is ‘Yes’. Fusion Accounts provides businesses with simultaneous multi-user access. A business can create multiple users within Fusion Accounts. There is no restriction on the numbers of users they can have.

The most important thing to remember is that when you create a new user you must remember to assign them ‘roles’. The ‘roles’ you assign to a user will determine the level of access they have within Fusion Accounts.

Typically businesses grant their business partners and accountants full access to their accounts so they can view financial reports and see how well the business is performing year on year. However not all users will require this level of access so a business can restrict access levels to suit the person viewing the information. For instance a business may decide to grant their sales people access to Fusion. They can provide them with a login that only allows them only to create sales orders and sales invoices. The benefit of granting sales staff the ability to do this is that once the sale has been made they can create their own customer invoices. This reduces the need for double entry of data and will reduce any mistakes being made at the time of creating the invoice, e.g. incorrect product being selected, incorrect quantity being entered.

As Fusion Accounts is web-based it means that users can access the data at any time and from any location. One of the main benefits of using an online accounting system is that no installation of software is required. A user can access the data via an internet connection.

Should you need any help selecting ‘roles’ for your ‘users’ contact our support team!

Business Need - I am looking for a system where the invoice does not require me to enter quantity and unit price

Within the 'Business Details' section of Fusion Accounts a business can choose not to 'Show quantity and unit price on invoice'.  If this is not required the business simply unselects this option and then clicks on the 'save' button to update the changes. The business details page can be found under the 'Business' menu.

If you choose not to show quantity and unit price on invoices, at the time of creating the invoice having chosen a sales account the business will only be asked to enter in a price for the invoice. 

So yes, Fusion Accounts does support service invoices.

This morning we received a call from a potential client.  The client has three business locations, London, Dublin & Dubai.

What the client wanted to know was could Fusion Accounts provide them with a set of consolidated financial reports across each of the three businesses alongside individual financial reports.

Also did Fusion Accounts have multi-currency to support the various currencies of each location.

Fusion Accounts can support all of the above.

Foreign currency is offered as a free upgrade to businesses within Fusion Accounts.  When a Business activates foreign currency they can invoice in any currency and accept receipts and make payments in any currency.

With Fusion Accounts being web-based it can be accessed anywhere in the world.