supplier processing (journals)

[YolandiN]

Good day,

in pastel, if you need to capture supplier invoices through the supplier journal, against what GL account do you post?

there is not inventory etc.



Also when capturing the previous years opening balances on the General journal, you post it against retained earnings.
how do you go to the next year again? do you need to update first?

Please can you assist?

Thank you
Kind regards

[Neville Bailey]

in pastel, if you need to capture supplier invoices through the supplier journal, against what GL account do you post?

there is not inventory etc.

The supplier journal does not give you access to inventory items, only to supplier accounts and general ledger accounts. The GL contra account will be whatever expense account the transaction relates to, for example, Purchases (2000/000) or Printing and Stationery, etc.

If you want to access inventory items, then you need to use the supplier invoice document (which gives you access to GL accounts as well, by the way).

Also when capturing the previous years opening balances on the General journal, you post it against retained earnings.
how do you go to the next year again? do you need to update first?

I presume, when you are capturing the previous year's opening balances, you have unticked the option "This Year Transactions" under Settings? If so, then you first need to update the batch to get it reset to this year. In other words, you cannot combine last year and this year transactions in the same batch.

[YolandiN]

Thank you Neville,

okay so when I capture for example the rates and taxes invoice on the supplier journal I will do the following:

capture against the supplier (Local Municipality) and the contra account will then be the water and electricity for example

of if it is stationary it will then be the supplier and the contra will then be stationary?

thank you
kind regards

[Neville Bailey]

Thank you Neville,

okay so when I capture for example the rates and taxes invoice on the supplier journal I will do the following:

capture against the supplier (Local Municipality) and the contra account will then be the water and electricity for example

of if it is stationary it will then be the supplier and the contra will then be stationary?

thank you
kind regards

Correct.

[YolandiN]

Thank you Neville,

sorry just another question.

when you capture the take on balances in your general journal, what will your contra accounts be.

say for example:

3000/000 Take on Balance - Accounting Fees R14 500 ? what will the contra account then be?
9990/004 (suspense acc) Take on Balance - Inventory R100 000 I cant use the control accounts here


thank you
kind regards

[Neville Bailey]

3000/000 Take on Balance - Accounting Fees R14 500 ? what will the contra account then be?

Generally you would use the default 9990/000 account, or a sub-account of it, depending on how you have set things up. The idea is that, once you have captured the entire take-on trial balance, the 9990/000 account balance will be zero.

9990/004 (suspense acc) Take on Balance - Inventory R100 000 I cant use the control accounts here

To take on opening inventory balances, you need to process via the inventory journal, at an item code level - this will then update the control account.