Overview of Tyms revenue management

Tyms' revenue management empowers businesses to effortlessly track and manage their revenue streams across diverse financial records, including sales receipts, invoices, prepaid income, quotes, and recurring invoices, generating accurate reports for effective decision making. This feature is available on the revenue module on Tyms.

 

 

To access the revenue module, follow these steps:

1. Log in to your Tyms account.

2. Navigate to the “Revenue" module.

3. Select the menu you want to visit. 

 

The following sales types on the revenue module are:

1. Sales Receipt: A document capturing full payment received from customers for purchase of goods or services.

2. Invoice: A sales document requesting payment from customers for purchase of goods or services.

3. Prepaid Income: Payment received in advance of delivering goods/services, when the goods or services haven’t been earned yet.

4. Quote: A sales document outlining proposed services/goods and prices to be sent to a customer.

5. Recurring Invoice: Invoice automatic generation at regular intervals over a specified period of time for recurring payments.

 

Functions

The Revenue Management feature allows you to:

1. Create, manage and send sales receipts.

2. Generate and issue invoices.

3. Record and allocate prepaid income.

4. Create and manage quotes.

5. Set up and manage recurring invoices.

 

FAQs

1. What’s the difference between a sales receipt and an invoice on Tyms?

A sales receipt is captured as a sales record which is fully paid, while invoice can contain partial or no payments at all.

2. How do I track prepaid income?

Prepaid income is recorded and allocated in the revenue section, preview on the sales page to see the prepayment schedule.

3. Can I customize document templates?

Yes, you can customize your document templates to suit your business needs from the settings page.