Accounting and Invoicing

Xsellence Invoicing is a standalone invoicing app that allows you to issue invoices, send them to your customers, and manage payments, including online payments. It works as a “lighter” version of Xsellence Accounting, and you can upgrade it to Xsellence Accounting if you need more advanced accounting features.

Xsellence Accounting is a complete and strong accounting app. The automation of processes is at the core of its development with its perfect integration with all Xsellence apps and with features such as AI-powered invoice recognition, synchronization with your bank accounts, and automatic suggestions for a simplified reconciliation process.

 See also

• Xsellence Invoicing: product page

• Xsellence Accounting: product page

Double-entry bookkeeping

Xsellence automatically creates all the behind-the-scenes journal entries for each of your accounting transactions: customer invoices, point of sale orders, expenses, inventory moves, etc.

Xsellence uses the rules of the double-entry bookkeeping system: all journal entries are automatically balanced (sum of debits = sum of credits).

 See also

  Understand Xsellence accounting transactions per document

Accrual and Cash Basis Methods

Xsellence supports both accrual and cash basis reporting. This allows you to report income/expense at the time transactions occur (i.e., accrual basis), or when payment is made or received (i.e., cash basis).

 Multi-companies

Xsellence allows one to manage several companies within the same database. Each company has its own chart of accounts and rules. You can get consolidation reports following your consolidation rules.

Users can access several companies but always work in one company at a time.

 Multi-currencies

Every transaction is recorded in the default currency of the company. For transactions occurring in another currency, Xsellence stores both the value in the currency of the company and the value in the currency of the transaction. Xsellence can generate currencies gains and losses after the reconciliation of the journal items.

 Accounts Receivable and Payable

By default, Xsellence uses a single account for all account receivable entries and one for all accounts payable entries. You can create separate accounts per customer/supplier, but you don’t need to.

As transactions are associated to customers or suppliers, you get reports to perform analysis per customer/supplier such as the customer statement, revenues per customer, aged receivable/payables, …

 Wide range of financial reports

In Xsellence, you can generate financial reports in real-time. Xsellence reports range from basic accounting reports to advanced management reports. Xsellence reports include:

● Performance reports (such as Profit and Loss, Budget Variance)

● Position reports (such as Balance Sheet, Aged Payables, Aged Receivables)

● Cash reports (such as Bank Summary)

● Detail reports (such as Trial Balance and General Ledger)

● Management reports (such as Budgets, Executive Summaries)

Xsellence report engine allows you to customize your own report based on your own formulae.

 Import bank feeds automatically

Bank reconciliation is a process that matches your bank statement lines, as supplied by the bank, to your accounting transactions in the general ledger. Xsellence makes bank reconciliation easy by frequently importing bank statement lines from your bank directly into your Xsellence account. This means you can have a daily view of your cash flow without having to log into your online banking or wait for your paper bank statements.

Xsellence speeds up bank reconciliation by matching most of your imported bank statement lines to your accounting transactions. Xsellence also remembers how you’ve treated other bank statement lines and provides suggested general ledger transactions.

 Calculate the tax you owe your tax authority

Xsellence totals all your accounting transactions for your tax period and uses these totals to calculate your tax obligation. You can then check your sales tax by running Xsellence Tax Report.

 Inventory Valuation

Xsellence supports both periodic (manual) and perpetual (automated) inventory valuations. The available methods are standard price, average price, LIFO (for countries allowing it), and FIFO.

  Employee Information

Our HR software will keep all information about your employee. The HR department can find any necessary information within a few seconds. Information includes-

• Personal Information- Name, Address, Photo, contact number, private contact number, Education documents, marital states, Citizenship, Work permits, Working history, etc.

• Work Information- Department, job responsibilities, working time, work station, reporting Boss, Organization chart.

• Employee contact- It shows employee work contact with the organization and the current contract situation.

• Leave statistics- It shows employee leave statistics issued by organizations and using and remaining leave.

• Payslip- It indicates every payslip issued by the organization. 

• Attendance- It shows the attendance report of that particular employee.

• Working hours- It shows the working hour of that employee for that month.

 Employee directory

Company information if the organization has multiple office places.

The department organizes every department and which employees work in which department.

 Payroll

• Payroll is a very vital function for an organization. HR dept. spend a huge amount of time preparing payroll for employees. Preparing it takes time and cost. Our solution will help your organization to make it very quickly. It will save your organizations time and cost. Let’s see how it will help your organization

• Employee payslip- HR dept. can prepare an employee payslip within a few clicks

• Payslip batches- Creating many employees Payslips is easy.

• Employee Payroll 

• Employee Create

 Contact

• Configuration salary rules, salary structure.

 Attendance

• Check-in and check-out times of your employees.

• Reporting and attendance analysis of your organization.

 Recruitment

• Leave Management- You can manage leave and its policy in your organization. You can apply and approve your leave application. Find any particular employee’s leave information here.

 Get started

• Build a product page

• Customize my catalog page

 Manage my products

• Display several images per product

• Manage product variants

• Import Products with Categories and Variants

 Collect taxes

• Default Taxes

• Fiscal Positions (tax and account mapping)

• Taxes

• Get correct tax rates in the United States using Tax Cloud

• Manage prices for B2B (tax excluded) and B2C (tax included)

 Get paid

• Manage orders paid with Payment Acquirers

• Customers can access their customer account

 Launch my website

• Use your own domain name

• Geo IP Installation (On-Premises Database)

• Translate my website

 Maximize my revenue

• Sell pricier alternative products (upselling)

• Sell accessories and optional products (cross-selling)

• Enable comments & rating

• Adapt prices to website visitors

• Create & share promotional codes

 Amazon Connector

• Amazon Connector Features

• Configure Amazon Connector in Xsellence

• Manage Amazon orders in Xsellence

 eBay Connector

• How to configure eBay in Xsellence?

• How to list a product?

 Advanced Topics

• How to give portal access rights to my customers?

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