Journals > Journal Entries - Processing Payables

In the finance & administration module > general ledger > journals you can allocate payments that you’ve made to creditors.

This applies to payments you haven’t included in a payment proposal.

You can find more information on creating journals here - Creating Journal Entries

ON THIS PAGE YOU WILL FIND:

ON THIS PAGE YOU WILL FIND:
1 BEFORE ALLOCATING CREDITOR PAYMENTS 2 CREATING THE JOURNAL ENTRY 3 CHECKING THE BALANCE 4 DIFFERENCE IN PAYMENT AMOUNT

BEFORE ALLOCATING CREDITOR PAYMENTS

Make sure that the creditor invoice is posted
Check that all credit notes have been allocated to invoices

CREATING THE JOURNAL ENTRY

There are 2 ways to enter a journal, you can do a single line entry or a multi-line entry. This is down to your preference.

1. Single Line Entry:

In the finance and administration module > GL sub menu> journals
In the journal entry tab > enter the booking date and comment (this is what appears on your bank reconciliation for easier matching)
In the first type field > select creditor
In the account field > select the creditor you’ve paid (you may need to push enter to apply)
In the panel at the bottom, the invoices on the creditor will appear > select the invoices that the payment is for

Make sure that the amount matches the payment received
In the second type field > select holding
In the offset account field > select the bank account

2. Multi-Line Entry

Follow the instructions for creating a journal
In the journal entry tab > enter the booking date and comment (this is what appears on your bank reconciliation for easier matching)
In the first type field > select creditor
In the account field > select the creditor you’ve received the payment from (you may need to push enter to apply)
In the panel at the bottom, the invoices on the creditor will appear > select the invoices that the payment is for (as above)
To create a second line > click the create new journal entry button:

Enter the booking date and comment
In the first type field > select holding
In the offset account field > select the bank account
In the amount field > enter the credit amount

CHECKING THE BALANCE

Once you’ve made your transactions, check the balances in the header are 0.00

Depending on your setup, you may need to select dimensions on your transactions before you can approve.

DIFFERENCE IN PAYMENT AMOUNT

Sometimes the amount paid to the creditor differs to the invoice amounts. This can be due to bank fees or currency differences. There are 2 ways to handle this:

1. Remainder Handling on Creditor Level

Once you’ve selected the invoices > override the payment amount on the journal line
This will leave a balance on an invoice in the bottom panel

Once you’ve posted the journal > follow the instructions here to handle the remainder

2. Add Another Journal Line

Add another journal line with a finance type
Select the GL account > enter the amount

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