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Making a Purchase Journal Entry

Autosoft -

Use the Purchase Journal Entries screen to input entries to the Purchase Journal. Generally, you will enter the Purchase Journal entries from the vendor’s invoice. The system will post an automatic credit line for the Accounts Payable account you specified in the Operating Parameters in the Accounting System Setup. Generally, the debit lines you post will be to the Inventory or Expense accounts. You can post a single invoice with as many as 98 transaction lines (97 debits, plus one balancing line). If necessary, you can exit this screen with a partial entry posted.

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Step 1. From the Dealership Accounting main menu, select Journal Entries.

Step 2. The Journal Entries menu will open. Click General - Purchases - Receipts. This will open the Journal Entries submenu.

Step 3. Click Purchases.

Step 4. The journal number defaults to the journal number entered as the default Purchase Journal in the Operating Parameters in the Accounting System Setup. This should be 75.

Step 5. Type the invoice number from the vendor’s bill.

Step 6. Type the vendor’s control number. Press F3 to search for an existing vendor. If you enter a new control, you will have to enter the vendor information before you can complete the journal.

Step 7. Type the amount of the invoice.

Step 8. Use the Memo field to type any information about the entry you want to record.

Step 9. In Invoice Date, type the invoice date. If you press ENTER to advance through this field, the current system date automatically populates this field.

Step 10. The Days Until Due field defaults to the days entered in the vendor’s master file (from the Trade Vendor Payables menu). A default entry of 30 automatically populates if there is no entry in the vendor’s master file.

Step 11. In G/L Debit Account, type the account to which the debit amount should post. This is usually the Inventory or Expense account.

Step 12. If you entered a scheduled account, you will have to enter a control. Use the Schedules button to search for an existing control.

Step 13. Type the debit amount.

Step 14. In Description, type a description for the line. If you leave this field blank, the vendor’s name defaults as the description.

Step 15. The line is added to the right side of the screen, and the cursor returns to the G/L Debit Account field. Continue to add lines as needed. You can add multiple entries to multiple accounts.

Step 16. When you are finished with the entry, click Save or Post. The button description depends on the posting method you selected. (You can also press ENTER in a blank G/L Debit Account field).

Step 17. If you selected to post directly to the general ledger and schedules, click to select to post to the current month or next month, or select to batch the entry.

If you selected to batch post, click File It! when prompted to verify you want to file the entry. (Click No, Not Yet to continue working.)

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