This form displays the entire entry that has created the journal line. If you select a journal line on the Journal form, you can press CTRL+F5 to display the corresponding journal entry. The examples below show how the journal entries may look for part sales or purchases.
Example of sales journal entry
You have sold parts for a total of $ 7,000 (excluding VAT). The following journal entry will be displayed on the form:
|
LDGR |
Account description |
D |
C |
|
1000 |
Debtors |
$ 8,470 |
|
To |
1810 |
Tax payable |
|
$ 1,470 |
To |
8500 |
Stock turnover |
|
$ 7,000 |
|
7050 |
Parts cost price |
$ 4,000 |
|
To |
2040 |
Sales invoices |
|
$ 4,000 |
Example of purchase journal entries
You bought materials for a total of $ 4,000 (excluding VAT). The following journal entry will be displayed:
|
LDGR |
Account description |
D |
C |
|
2020 |
Goods to receive |
$ 4,000 |
|
To |
2000 |
Commitments |
|
$ 4,000 |
After you have received the materials, the following entry will be displayed:
|
LDGR |
Account description |
D |
C |
|
2000 |
Commitments |
$ 4,000 |
|
To |
2020 |
Goods to receive |
|
$ 4,000 |
After you have received and recorded the invoice, the following journal entry is displayed:
|
LDGR |
Account description |
D |
C |
|
1800 |
VAT to be reclaimed |
$ 840 |
|
|
1830 |
VAT suspense account |
$ 4,000 |
|
To |
1300 |
Creditors |
|
$ 4,840 |
|
2040 |
Received purchase invoices |
$ 4,000 |
|
To |
1830 |
VAT suspense account |
|
$ 4,000 |