Example:
Creditor purchases increases the amount outstanding to your creditors while reducing your profit. The default ledger account that is populated into the grid is that attached to the creditor under Creditor Sourced Purchases. A transaction can also be dispersed across multiple ledger account codes.
Where a Job Costing code is attached, then the creditor purchases ledger is changed to the Work in Progress account attached to that Job Code when the journal is posted.
Example:
Invoice for 220.00 Inc GST of which Default Purchases account is 165.00 Inc GST the balance to Ledger Account 2
| Ledger | BAS Code | Debit | Credit |
|---|---|---|---|
| Creditor Value - Creditor A | No Code | 220.00 | |
| Creditor Sourced Purchases - Creditor A | G11 | 150.00 | |
| Creditor Purchases - Ledger Account 2 (selected from search windows) | G11 | 50.00 | |
| GST - Tax Maintenance > GST Inwards | G11 | 20.00 |
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