← All Modules/Operations/7 min read

Sales & Accounts Receivable

Complete order to cash lifecycle with native IRD compliant tax invoices, customer ledgers, and automated payment receipts.

SB
SyncBooks Product & Compliance Team
Colombo, Sri Lanka • Updated 2026-09-04
SyncBooks Sales Invoice, Tax Breakdown & Customer Ledger
The Sales workspace covers the complete commercial cycle from initial customer quotation to confirmed sales orders, statutory IRD Tax Invoices, dispatch receipts, and payment settlements. Every sales transaction enforces customer TIN verification, applies standard 18% VAT and 2.5% SSCL rates, and posts atomic double entry records directly to your general ledger.

Delivered Submodules & Capabilities

In depth breakdown of the 11 native components forming the Sales & Accounts Receivable workspace:

11 active submodules
01

Customers

/sales/customers

Centralized directory of customer accounts with verified statutory tax identifiers (IRD Taxpayer Identification Number, Business Registration number, and VAT registration certificate). Configures distinct payment terms, credit limits, multi currency default billing rules, and multiple delivery addresses.

Core Operational & Compliance Controls:
  • ✓Automated IRD TIN and Business Registration (BR) validation
  • ✓Credit limit enforcement with hard stop transaction controls
  • ✓multi currency billing profiles with automatic exchange rate conversion
  • ✓Contact person hierarchy and statement delivery preferences
02

Quotes

/sales/quotes

presales price estimates and commercial proposals with customizable validity periods, itemized tax previews, and multi currency quoting. Customers can accept estimates online via the client portal, triggering instant conversion into sales orders or invoices.

Core Operational & Compliance Controls:
  • ✓One click conversion to Sales Order or IRD Tax Invoice
  • ✓Configurable expiry dates with automated reminder notifications
  • ✓Client portal online viewing and digital acceptance
  • ✓Version history and quote revision audit trails
03

Sales orders

/sales/orders

Formal commercial commitments bridging sales agreements with warehouse fulfillment. Confirmed orders automatically reserve physical stock in designated warehouses to prevent stockouts and generate warehouse dispatch pick lists.

Core Operational & Compliance Controls:
  • ✓Automatic physical inventory allocation and reservation
  • ✓Partial fulfillment and back order tracking across deliveries
  • ✓Warehouse pick list and dispatch schedule generation
  • ✓Prepayment matching against order commitments
04

Invoices

/sales/invoices

Legally binding Sri Lankan Tax Invoices compliant with Section 20 of VAT Act No. 14 of 2002. Enforces non resettable sequential numbering, automatic amount in words conversion in English, and itemized 18% VAT and 2.5% SSCL calculations, posting atomic journal entries directly to the general ledger.

Core Operational & Compliance Controls:
  • ✓Statutory eight field IRD compliance with non resettable serials
  • ✓Automatic amount in words conversion in English for legal validity
  • ✓Atomic double entry postings (DR Accounts Receivable, CR Revenue, CR VAT/SSCL)
  • ✓Direct RAMIS electronic invoice integration and QR code verification
05

Payments received

/sales/receipts

Captures inbound settlements across bank transfers, cash, credit cards, and local cheques. Supports multi invoice allocation, partial settlements, settlement discounts, and automated credit note application, instantly updating customer running balances.

Core Operational & Compliance Controls:
  • ✓multi invoice settlement with automated FIFO matching
  • ✓Post dated cheque (PDC) recording and maturation tracking
  • ✓Instant customer payment receipt PDF generation
  • ✓Automated discount journal creation on early settlements
06

Recurring invoices

/sales/recurring

Automates recurring billing schedules on daily, weekly, monthly, quarterly, or annual intervals. Automatically generates compliant IRD tax invoices on scheduled dates, issues PDF copies to billing contacts, and logs every execution.

Core Operational & Compliance Controls:
  • ✓Custom recurrence schedules with start and end conditions
  • ✓Automated email dispatch of generated invoices with payment links
  • ✓Smart prorated billing for mid cycle customer onboarding
  • ✓Batch generation audit logs with failure notifications
07

Credit notes

/sales/credit-notes

Handles sales returns, billing discrepancies, and post sale rebates. Automatically reverses revenue and tax postings (DR Sales Returns, DR VAT Output Liability, CR Accounts Receivable) with full audit traceability to the original tax invoice.

Core Operational & Compliance Controls:
  • ✓Statutory VAT and SSCL reversal compliance
  • ✓Original invoice linkage and partial item returns
  • ✓Warehouse restock integration with inventory adjustments
  • ✓Refund payout or credit balance allocation to open invoices
08

Delivery notes

/sales/delivery-notes

Generates warehouse dispatch notes and transport gate passes. Confirms physical inventory departure, updates warehouse bin balances, and provides proof of delivery tracking before final tax invoicing.

Core Operational & Compliance Controls:
  • ✓Warehouse dispatch gate pass and packing slip printing
  • ✓Batch number and serial number assignment at dispatch
  • ✓Partial delivery tracking against open sales orders
  • ✓Customer delivery signature and acknowledgment recording
09

Statements

/sales/statements

Comprehensive running ledger statements showing opening balances, invoiced charges, payment receipts, credit notes, and running balance due. Supports custom date ranges and One click batch emailing to clients.

Core Operational & Compliance Controls:
  • ✓Chronological statement generation with running balance ledgers
  • ✓Aged debt categorization (Current, 30, 60, 90, 90+ days)
  • ✓Batch PDF statement distribution via email
  • ✓Integrated online payment link embedding
10

Salespersons

/sales/salespersons

Assigns sales representatives to customer accounts and specific transaction lines. Computes tiered sales commissions based on invoiced sales or collected cash receipts, providing transparent audit reports.

Core Operational & Compliance Controls:
  • ✓Sales representative attribution per invoice or line item
  • ✓Commission calculations on invoiced revenue or collected cash
  • ✓Performance tracking against monthly sales quotas
  • ✓Commission expense accrual journal automation
11

Analytics

/sales/analytics

Interactive revenue intelligence tracking Days Sales Outstanding (DSO), monthly recurring revenue (MRR), product sales velocity, and customer concentration risks with drill downs to source invoices.

Core Operational & Compliance Controls:
  • ✓Days Sales Outstanding (DSO) trend and collection efficiency
  • ✓Top customer revenue concentration analysis
  • ✓Product category and SKU profit margin reporting
  • ✓Real time revenue projections based on confirmed orders

Core Capabilities & Accounting Logic

Statutory eight field IRD Tax Invoices

Meets every legal requirement of the Sri Lanka Inland Revenue Department and RAMIS portal specifications.

  • Sequential non resettable serial number generation
  • Customer TIN, Business Registration (BR), and VAT registration checks
  • Amount in words conversion in English for legal compliance

order to cash Workflow Automation

Convert quotes into sales orders, reserve stock in designated warehouses, and generate tax invoices upon delivery.

  • Zero duplicate data entry between commercial steps
  • Automated escalating email reminders on overdue invoices
  • Prepayments and advance deposits matching against final invoices

Sri Lanka Statutory & Accounting Standards

Value Added Tax Act No. 14 of 2002VAT 18%

Enforces 8 statutory tax invoice fields and output VAT netting.

Social Security Contribution Levy Act No. 25 of 2022SSCL 2.5%

Computes 2.5% turnover levy on eligible supplies.

Standard Reports Generated

Report NameFrequencyDescription
Aged Receivables DetailReal timeOutstanding customer debt categorized by 30, 60, 90, and 90+ days.
Customer Statement of AccountOn demandComplete ledger history of invoices, receipts, and running balance.
Monthly Sales Tax RegisterMonthlyItemized sales turnover, exempt revenue, and output VAT collected.

Legal Requirements for Sri Lankan Tax Invoices

Under Section 20 of the Value Added Tax Act, a registered person making a taxable supply is legally required to issue an official Tax Invoice to any recipient who is also registered for VAT.

SyncBooks generates fully compliant invoices containing the supplier's registered name, address, and VAT registration number, recipient credentials, serial number, and explicit item by item tax breakdowns. non registered buyers automatically receive standard commercial invoices without statutory VAT claiming headers.

Statutory Practice

Always verify that your customer's registered business name matches their IRD TIN certificate to prevent rejected input VAT claims.

Accelerating Receivables & Eliminating Bad Debt

In the Sri Lankan high interest commercial environment, delayed customer payments directly erode operating cash flow. SyncBooks solves this through scheduled dunning ladders.

Automated payment reminders can be dispatched at invoice due date, +7 days, +14 days, and +30 days, complete with digital PDF statements. When a payment receipt is logged, the reminder schedule ceases automatically.

Frequently Asked Questions

Does SyncBooks support the new IRD tax invoice format?↓

Yes. SyncBooks Tax Invoices strictly comply with all IRD criteria, including verified customer TIN, serial numbers, amount in words, and explicit 18% VAT and 2.5% SSCL splits.

Can I generate recurring invoices for subscription clients?↓

Yes. You can schedule daily, monthly, or annual recurring invoices that automatically generate and email PDF invoices to clients on the designated dates.