An income, simply put, is money that business receives in exchange for providing a good or service or through investing capital.
On Seegad, when an income is received, the Accountant adds the income. To add an income, hover on the Activity Menu, and click on Incomes (See image above). When the pages loads, please click on the ADD INCOME button, a pop-up box will appear with the income details to be added.
Let us quickly explain a few things;
INCOME: This refers to the money received for an engagement, for example, it could be 30% upfront payment.
ENGAGEMENT: This refers to project/engagement the incomes was received for. Please select the engagement from the list.
AMOUNT DUE: The amount due for payment for the engagement/service offered to the client.
DUE ON: This is referred to the date and time the amount of the income to be received is due.
SALES REPS: This is the salesperson liaising with the client. Please select the employee’s name from the list.
STATUS – PENDING: This simply tells us that the invoice is pending, and it is dependent on a Milestone/Key deliverable to be achieved.
STATUS – INVOICED: This tells us that the income has been invoiced and the date it was invoiced.
STATUS – PAID: This tells us that the income has been paid, the amount paid and the date it was also paid.
When you are done, please click on the ADD INCOME button, and your income will be added successfully.