Transaction Journal Entries source

pclaud0910 · ‎October 07, 2021

Question 1: how does a transaction like Purchase Order NOT interface to GL. I can view a transaction journal entry but does not interface. Question 2: on a Bill I see where the transaction journal has an entry for the receivable and line items. There is also and entry for, in my case, Freight In, that does not have a debit or Credit. I assume it is in setup somewhere but can't find how. How are GL account numbers assigned to a transaction outside of line items and receivable, payable, bank.

BigRedConsulting · ‎October 07, 2021

@pclaud0910 RE: How are GL account numbers assigned to a transaction outside of line items and receivable, payable, bank.

You assign the accounts. They can be assigned directly on purchases and expense transactions like bills, credit cards charges, and checks, or indirectly using items, for most all transaction types.

For inventory items and sales three accounts are used, the accounts set up on the inventory item. Usually on purchases only the inventory account is used.

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Rustler · ‎October 07, 2021

A PO is just a memo of what was ordered, it is non posting.

If there is an entry for an expense you did not list there, the most likely reason is that in company settings you have it set to recall previous transactions. And freight in for inventory type items is part of the item cost, it does not post separately

The back end creates journal entry numbers, no one knows the how or why it is done

BigRedConsulting · ‎October 07, 2021

@pclaud0910 RE: How are GL account numbers assigned to a transaction outside of line items and receivable, payable, bank.

You assign the accounts. They can be assigned directly on purchases and expense transactions like bills, credit cards charges, and checks, or indirectly using items, for most all transaction types.

For inventory items and sales three accounts are used, the accounts set up on the inventory item. Usually on purchases only the inventory account is used.

pclaud0910 · ‎October 12, 2021

Thank you for your response. I see the answer. On the Bill, the Items tab list only the item, but when i click on the expense tab, I see the the Freight in account line item which was unware was there. Never clicked on it before.

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Transaction Journal Entries source