Journal Preset Examples

Prepayment Example

This is an example of the Journal Preset that might be defined for a prepayment journal.

The total prepayment amount (line 1) is debited to account 65600 and credited to account 81600 (line 26), for the period entered on line 1.

In lines 2 to 24 the prepayment amount is divided evenly over 12 periods. One twelfth of the total is credited to the prepayment account (65600) and debited to the expense account entered on line 14, in each period.

Line No/Base No Prompt Account Debit/ Credit Period Amount Tx Date
1/blank Total prepay amount 65600 D blank    
2/1 Prepayment month 1 65600 C +0 1R +1N
3/1 Prepayment month 2 .. C +1 1R +2N
4/1 Prepayment month 3 .. C +2 1R +3N
v v v v v v v
13/1 Prepayment month 12 .. C +11 1R +11N
14/2 Expense A/c Month 1 35600 D +0 100% +0
15/3 Expense A/c Month 2 .. D +0 100% +0
16/4 Expense A/c Month 3 .. D +0 100% +0
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25/13 Expense A/c Month 12 .. D +0 100% +0
26/1 Creditor A/c 81600 C +0 100% +0

Purchase Invoice Example

This preset journal is used to enter an invoice and calculate the tax automatically.

The total (gross) value of the invoice is entered on line 1 and posted to the Creditor account entered, in the accounting period entered. The tax value is calculated and entered automatically as line 2 and debited to account 94200. The net expense or goods value is calculated automatically on line 3 and posted to the expense or stock account entered on this line.

Line No/Base No Prompt Account A/c Type Debit/ Credit Period Amount Tx Date
1/1 Total Creditor   Creditor C      
2/1 Calculated Tax Line 94200 Balance Sheet D .. 17.5% ..
3/1 Expense or Inventory Account     D .. Transaction Balancing Amount ..