CherryBank University Training: accounting, invoices, VAT, expenses and AI finance workflows
CherryBank Money Training
Log in Open account

Module 5

Quotes, Invoices And Getting Paid

Run the full sales cycle from quote to invoice, sending, payment tracking and correction.

Start module Simulator practice Sign in to take training

Learning Goals

By the end of this module, learners should be able to complete the workflow in CherryBank and explain the accounting reason behind each important step.

  • Create a quote and convert it into an invoice.
  • Create a direct invoice with correct dates, line items, VAT treatment and payment terms.
  • Record full and partial payments.
  • Use credit notes for corrections instead of deleting issued records.

Lesson Plan

Use these lesson blocks for lecture delivery, live demo and class discussion.

Quote lifecycle

A quote records proposed work before approval. Once accepted, it can be converted into an invoice.

Invoice creation

Invoices combine client, date, due date, template, line items, VAT treatment, notes and payment instructions.

Payment tracking

Payment records turn unpaid invoices into partial or paid records and improve cash-flow visibility.

Corrections

Credit notes preserve the original document and create a clear correction trail.

Step-By-Step Lab

This is the student-facing sequence for the practical class. Complete the steps in order, then capture the evidence listed below.

  1. Open Manage Quotes and create a quote using an existing client and product.
  2. Mark the quote as accepted and convert it into an invoice.
  3. Open Manage Invoice and create a direct invoice with date, due date, line items and VAT treatment.
  4. Preview the invoice PDF or template view before saving or sending.
  5. Record a partial payment, then record the remaining payment.
  6. Create a credit note for a correction and confirm the original invoice is not deleted.
  7. Review the invoice status, payment status and customer balance.

Classroom Run Sheet

Use this structure to teach the module in a repeatable classroom or lab session.

Explain
Explain this module Introduce the accounting concept first: customer, invoice, VAT, expense, fund, role or audit trail.
Demonstrate
Demonstrate this module Trainer performs the workflow once in CherryBank using a projected simulator account.
Practise
Practise this module Students complete the same workflow in their own VM tenant using seeded records.
Review
Review this module Students compare system outputs with expected accounting treatment and discuss errors.
Evidence
Evidence this module Students submit screenshots, exports, PDFs or short explanations for assessment.

Simulator Practice

These are the VM practice tasks for this module. They are written as student-facing tasks and can later be wired into a guided simulator checklist.

Practice Brief

  1. Create a quote for a consulting service and convert it into an invoice.
  2. Create a standard UK sale invoice and preview it before sending.
  3. Create an EU goods sale invoice and confirm VAT remains zero.
  4. Record a partial payment and then a final payment.
  5. Create a sales credit note for an overcharge and review the customer balance.

Knowledge Check

Use these questions for in-class review, a short quiz or a reflective workbook entry.

  1. When should a quote be used before an invoice?
  2. What fields must be checked before sending an invoice?
  3. Why should corrections use credit notes instead of deleting records?

Assessment And Evidence

Students should submit proof that the workflow was completed and a short explanation of the decisions made.

Student Evidence

  • Submit one completed invoice, one converted quote and one payment record.
  • Explain how an invoice moves from draft to unpaid, partial and paid.

Trainer Notes

  • Make students preview before saving final documents.
  • Include one scenario where the due date makes the invoice overdue.

Continue The Course

Move through the modules in order for a complete accounting, invoicing, compliance and AI finance workflow.

Module 3 3 hours

UK Identity And Organisation Onboarding

Teach students how different UK organisation types affect records, statutory fields, people records and filing reminders.
Module 4 2 hours

Clients, Products, Services And Templates

Build the master records that make invoice and quote creation accurate and fast.
Module 6 4 hours

Expenses, Purchases, Receipts And Data Intake

Capture expense and purchase records through manual entry, receipt capture, CSV import and review controls.
Module 7 3 hours

AI-Assisted Bookkeeping And Review

Use AI suggestions to classify records while keeping review, correction and audit controls.