Creating a purchasing and sales journal

Use this procedure to report on transaction totals for several solutions, including credit and debit memos, prepayments, and transaction distribution details. The transactions list is for these solutions:

Payables
Cash Management
Billing
Receivables
Tax

The report is useful during VAT auditing to ensure that no purchase or sales transactions are omitted and that the transactions are correctly taxed.

Before running the purchasing and sales journal report, you must run Journal File Create, to create a tax file. Then run Purchasing And Sales Journal to list transaction totals. Finally, run Journal Detail Purge to purge the data so that you can report on different transactions the next time. When purged from the file, these records are no longer retrieved by Journal File Create.

Run Journal File Create. The input and output transactions are written to new tax files that are used as input to the PurchasingAndSalesJournal, VatPurchaseSaleDistribution, and VatPurchaseSaleTransaction.
Input transactions originate from Payables, Cash Management, or Tax. Output transactions come from Receivables, Billing, Contract Management, and Tax.
Select the company, process level, transaction source, and tax period range.
Select Financials > Payables > Payables Processing > Process Month End > Purchasing and Sales Journal to create a purchasing and sales journal.
Specify this information:

Process Level

Select the process level to include in the report.

Source

Select whether to include input transactions, output transactions, or both.

<Dimension>

Select a general ledger accounting string.

Account

Select a general ledger account.

Tax Period Range

Specify the tax year and tax period. If you only specify a From tax period, only one period shows.

Distribution Lines

Select whether to include distribution lines in the report.
Run Journal Detail Purge. Select the company, process level, source, and tax period range.